About Swelore
Swelore is an Industrial Goods & Manufacturing company based in India founded in 2003, and was acquired by CIRCOR in August 2025. Provider of industrial motors, pumps, gears, and lighting. The company has 180 employees. Its Indian entity Swelore Engineering Private Limited reported revenue of ₹45.64 Cr. Its focus areas include Industrial Goods and Manufacturing and Manufacturing Services.
Company details
Swelore was founded in 2003 in India as a provider of industrial equipment. Energy-efficient motors, utility pumps, and gearboxes are supplied by the company for industrial uses. Genuine spare parts for these products are also offered to reduce downtime. Operations focus on the industrial sector, with emphasis placed on reliable partnerships with suppliers for mutual growth. The companys domain is swelore.com.
- Headquarters India
- Employees 180
- Stage Acquired
- SectorsIndustrial Goods & Manufacturing
- Website swelore.com
- Acquired by CIRCOR (Aug 2025)
- Legal Name Swelore Engineering Private Limited
- Date of Incorporation 20 Mar, 1981
- Jurisdiction Ahmedabad, Gujarat, India
Associated legal entities of Swelore
Swelore operates through Swelore Engineering Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Swelore Engineering Private Limited CIN U29199GJ1981PTC004202 | Active | 20 Mar 1981 | Ahmedabad, Gujarat | ₹45.6 Cr | 180 | 6 | View details |
Investors in Swelore
Swelore has secured backing from 1 investor. Prominent investors backing the company include CIRCOR.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Pump and valve systems are manufactured for severe-service applications. | 1962 | circor.com | Tulsa, United States |
Investor details for Swelore
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Board of directors of Swelore Engineering Private Limited (Swelore)
Swelore Engineering Private Limited is the primary company behind Swelore. The board of Swelore Engineering Private Limited currently have 6 directors; the longest-serving is Hirenbhai Rasiklal Gajjar, appointed in 1981. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Hirenbhai Rasiklal Gajjar DIN 00257186 | Whole-time director | 20 Mar 1981 | 45 yrs 7 mo | Swelore Engineering Private Limited |
| Chirantan Rohit Gajjar DIN 00295126 | Managing Director | 20 Mar 1981 | 45 yrs 7 mo | Swelore Engineering Private Limited |
| Royal Gajjar DIN 05271736 | Whole-time director | 01 May 2012 | 14 yrs 6 mo | Swelore Engineering Private Limited |
| Hiren Harshadrai Mistry DIN 10945042 | Director | 30 Sep 2025 | 1 yr 1 mo | Swelore Engineering Private Limited |
| Daniel Stirpe DIN 08555037 | Director | 30 Sep 2025 | 1 yr 1 mo | Swelore Engineering Private Limited |
| Matthias Probian DIN 10266736 | Director | 30 Sep 2025 | 1 yr 1 mo | Swelore Engineering Private Limited |
Financials of Swelore
Figures of Swelore Engineering Private Limited, the primary company behind Swelore, for FY 2024. Revenue was ₹45.64 Cr (-12% year on year). Net profit was ₹2.21 Cr (5% margin). EBITDA was ₹5.48 Cr (12% margin). Revenue has grown at a compounded annual rate of +3% over three years and -3% over five years.
- ₹45.64 CrRevenue · FY 2024 · -12% YoY
- ₹2.21 CrNet profit · 5% margin
- ₹5.48 CrEBITDA · 12% margin
- ₹4.00 CrPaid-up capital
- 180Employees (provident fund records)
- +3%Revenue CAGR, 3 years
- -3%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Swelore Engineering Private Limited are on its company page.
Detailed financial statements for Swelore
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Timeline of Swelore
2 dated milestones of Swelore across 22 years, from founding to its latest funding, stage changes and deals.
- Founded Swelore is founded.
- Exit Acquired by CIRCOR.
Top companies in Contract & Outsourced Manufacturing
3 companies that operate in the same segment as Swelore (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 Swelore
Swelore was founded in 2003.
Swelore is headquartered in India.
Swelore has 180 employees.
The primary company behind Swelore, Swelore Engineering Private Limited, reported revenue of ₹45.64 Cr for FY 2024, down 12% year on year.
Swelore was founded in 2003 in India as a provider of industrial equipment. Energy-efficient motors, utility pumps, and gearboxes are supplied by the company for industrial uses. Genuine spare parts for these products are also offered to reduce downtime. Operations focus on the industrial sector, with emphasis placed on reliable partnerships with suppliers for mutual growth. The companys domain is swelore.com.
Swelore has 1 investor. Key investors include CIRCOR.
Swelore operates through Swelore Engineering Private Limited.
Yes. Swelore was acquired by CIRCOR in August 2025.
The legal entities of Swelore currently have 6 directors, including Hirenbhai Rasiklal Gajjar, Royal Gajjar, Chirantan Rohit Gajjar and others.