About Shah Foils
Shah Foils is an Industrial Goods & Manufacturing company based in Ahmedabad (India) founded in 2001. Cold rolled stainless steel coils and strips are manufactured. Shah Foils has raised $1.93 million across 4 funding rounds from investors including suryakiranrollingmills.tcc.mode, Smitaexxim and Shah Kartik. The company has 325 employees. Its Indian entity Shah Foils Limited reported revenue of ₹744 Cr. Its focus areas include Industrial Goods and Manufacturing and Manufacturing Services.
Company details
Shah Foils was established in 2001 in Ahmedabad, India, within the manufacturing sector focused on metals. Cold rolled stainless steel coils and strips are produced as the primary output. Operations center on processing and supplying these materials to industrial clients. The company is directed by Managing Director Shah Kartik, with activities based in the Indian market.
- Headquarters Ahmedabad, India
- Employees 325
- SectorsIndustrial Goods & Manufacturing
- Website shahfoils.com
- Legal Name Shah Foils Limited
- Date of Incorporation 06 Apr, 2004
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹744 Cr
FY 2025 · -21% YoY
- Net Profit₹13.11 Cr
FY 2025 · 2% margin
- EBITDA₹37.40 Cr
FY 2025 · 5% margin
- Total Equity Funding$1.93M (USD)
in 4 rounds
- Latest Funding Round$630.89K (USD), Seed
Apr 2015
- Employee Count325
Associated legal entities of Shah Foils
Shah Foils operates through Shah Foils Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Shah Foils Limited CIN U27209GJ2004PLC043927 | Active | 06 Apr 2004 | Ahmedabad, Gujarat | ₹744 Cr | 325 | 4 | View details |
Funding Insights of Shah Foils
Shah Foils has successfully raised a total of $1.93M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $630.89 thousand completed in April 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.93M
- Total Rounds 4
- Last Round Seed — $630,892
- First Round $497,893
(Sep 2006)
- Investors Count 3
All 4 funding rounds of Shah Foils with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2015 | $630,892 | Seed | – | suryakiranrollingmills.tcc.mode | – |
| Sep 2008 | $672,766 | Seed | – | suryakiranrollingmills.tcc.mode | |
| Feb 2008 | $126,008 | Seed | – | – | |
| Sep 2006 | $497,893 | Seed | – | – |
3 investors in total: 2 institutional and 1 angel.
Investors in Shah Foils
Shah Foils has secured backing from 3 investors, including institutional and angel investors. Prominent investors backing the company include suryakiranrollingmills.tcc.mode, Smitaexxim and Shah Kartik.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
SK Shah Kartik | unknown_23e59fd700124f849 |
Investor details for Shah Foils
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Shah Foils Limited (Shah Foils)
Shah Foils Limited is the primary company behind Shah Foils. The board of Shah Foils Limited currently have 4 directors; the longest-serving is Kartik Ramesh Shah, appointed in 2004. 10 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Kartik Ramesh Shah DIN 00311690 | Managing Director | 06 Apr 2004 | 22 yrs 6 mo | Shah Foils Limited |
| Lekhraj Parasmalji Kanungo DIN 00256669 | Additional Director | 01 Apr 2010 | 16 yrs 7 mo | Shah Foils Limited |
| Nitisha Sharma DIN 08706207 | Director | 19 Mar 2020 | 6 yrs 7 mo | Shah Foils Limited |
| Ankur Rajnikant Patwa DIN 09451949 | Director | 07 Jan 2022 | 4 yrs 9 mo | Shah Foils Limited |
People of Shah Foils
1 people are tracked at Shah Foils (1 in leadership); the tracked headcount is 325.
| Name | Role | Group |
|---|---|---|
| Managing Director | Leadership |
Complete people profiles for Shah Foils
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Shah Foils
Figures of Shah Foils Limited, the primary company behind Shah Foils, for FY 2025. Revenue was ₹744 Cr (-21% year on year). Net profit was ₹13.11 Cr (2% margin). EBITDA was ₹37.40 Cr (5% margin). Revenue has grown at a compounded annual rate of +4% over three years and +8% over five years.
- ₹744 CrRevenue · FY 2025 · -21% YoY
- ₹13.11 CrNet profit · 2% margin
- ₹37.40 CrEBITDA · 5% margin
- ₹6.80 CrPaid-up capital
- 325Employees (provident fund records)
- +4%Revenue CAGR, 3 years
- +8%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Shah Foils Limited are on its company page.
Detailed financial statements for Shah Foils
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Shah Foils
3 dated milestones of Shah Foils across 14 years, from founding to its latest funding, stage changes and deals.
- Founded Shah Foils is founded.
- Funding First funding round of $498K.
- Funding Latest funding round, Seed, of $631K.
Top companies in Contract & Outsourced Manufacturing
3 companies that operate in the same segment as Shah Foils (Contract & Outsourced Manufacturing) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Industrial components, mould bases, and storage solutions are manufactured globally. | 1986 | Coimbatore, Tamil Nadu, India | USD 28 M | USD 853.09 M | 3,060 | |
Single- and three-phase transformers are manufactured in Mumbai. | 1993 | Mumbai, Maharashtra, India | USD 114.37 M | 618 | ||
Apparel and clothing are manufactured and exported on contract. | 1979 | Bengaluru, Karnataka, India | USD 400 M | 40,280 |
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Frequently Asked Questions about Shah Foils
Shah Foils was founded in 2001 and raised its 1st funding round 5 years after it was founded.
Shah Foils is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Shah Foils is a funded company, having raised a total of $1.93M across 4 funding rounds to date. The company's 1st funding round was a Seed of $497.89K, raised on Sep 2006.
Shah Foils has 325 employees.
The primary company behind Shah Foils, Shah Foils Limited, reported revenue of ₹744 Cr for FY 2025, down 21% year on year.
Shah Foils was established in 2001 in Ahmedabad, India, within the manufacturing sector focused on metals. Cold rolled stainless steel coils and strips are produced as the primary output. Operations center on processing and supplying these materials to industrial clients. The company is directed by Managing Director Shah Kartik, with activities based in the Indian market.
Shah Foils has 3 investors. Key investors include suryakiranrollingmills.tcc.mode, Smitaexxim, and Shah Kartik.
Shah Foils operates through Shah Foils Limited.
The legal entities of Shah Foils currently have 4 directors, including Nitisha Sharma, Ankur Rajnikant Patwa, Kartik Ramesh Shah and others.