MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-19-0036051
Badshah Masala Private Limited - food and beverages in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹312.66 Cr
▲ 12% YoY
Net profit · FY 2025
₹26.34 Cr
Net margin 8.4%
EBITDA · FY 2025
₹49.77 Cr
EBITDA margin 15.9%
Authorised capital
₹30 Cr
Registered with MCA
Paid-up capital
₹28.69 Cr
Issued & subscribed
Open charges
₹55 Cr
Satisfied ₹85 Cr
Company age
6 yrs
Est. 2020
Employees · EPFO
427
Provident fund records
About Badshah Masala Private Limited
Data last updated:
Badshah Masala Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Dabur India Limited. It operates in the spice manufacturing and distribution segment of the food and beverages sector. It was incorporated on 21 December 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U15490MH2020PTC352243. Its GSTIN is 27AAFCJ0494B2ZR (Maharashtra). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹28.69 Cr. It was formerly known as Jhaveri Industries Private Limited. It is led by directors including Hemant Jawaharlal Jhaveri (Managing Director) and Angelo George.
Its last annual general meeting (AGM) was held on 29 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Office No.504 Fifth Floor Neelkanth Corporate Park Kirol Road Vidyavihar (West), Mumbai, Maharashtra, India – 400086.
As per the financials filed for FY 2025, the company reported a revenue of ₹312.66 Cr, a growth of 12% compared to the previous year. For the same year it recorded a net profit of ₹26.34 Cr (net margin 8.4%) and EBITDA of ₹49.77 Cr (EBITDA margin 15.9%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years.
The company has about 427 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Badshah Masala. As per MCA filings, the company has open charges of ₹55 Cr and satisfied charges of ₹85 Cr on record. Court records list 2 cases involving the company, including 2 filed by the company; 2 cases are pending. The company has 2 deals on record (2 secondary share transfers); the latest was in January 2023. Its 6 peer companies in the Food and Beverages industry (Spices), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 3 larger and 3 smaller; the largest is Suruchi Spices Private Limited with revenue of ₹420.75 Cr. The company has 7 MSME Form 1 returns on record between 2021 and 2024, listing 325 overdue payments to 61 micro and small suppliers.
Badshah Masala Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0036051). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website badshahmasala.com.
Company details
CIN U15490MH2020PTC352243
Registration Number 352243
Incorporation Date 21 December 2020
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 July 2025
Date of Balance Sheet 31 March 2025
Parent Company Dabur India Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0036051
Recognitions & Rankings of Badshah Masala
Contact details
Badshah Masala Private Limited's registered office is in Mumbai, Maharashtra. Its website is badshahmasala.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOffice No.504 Fifth Floor Neelkanth Corporate Park Kirol Road Vidyavihar (West), Mumbai, Maharashtra, India – 400086
- IndustryFood and Beverages, Spice Manufacturing & Distribution
To see the full contact details of Badshah Masala Private Limited, buy the company report.
Comprehensive company report
Badshah Masala Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Badshah Masala operates one associated brand: Badshah Masala. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Blended, ground, and whole spices are manufactured for culinary applications. | badshahmasala.com |
Business activity
The main business activity of Badshah Masala is manufacturing. In detail, this covers food, beverages and tobacco products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products |
To see the full business activity and turnover split of Badshah Masala Private Limited, buy the company report.
Financials of Badshah Masala Private Limited
FY 2025 filings availableBadshah Masala Private Limited reported revenue of ₹312.66 Cr (up 12% YoY) for FY 2025.
Revenue · FY 2025
₹312.66 Cr ▲ 12%
Net profit · FY 2025
₹26.34 Cr margin 8.4%
EBITDA · FY 2025
₹49.77 Cr margin 15.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 12%
3 years · compounded
▲ 18%
EBITDA CAGR growth
1 year
▲ 40%
3 years · compounded
▲ 13%
Revenue has grown at a compounded annual rate (CAGR) of 18% over three years, including 12% growth in the latest year. EBITDA rose 40% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹49.77 Cr | ||||
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| Net Profit (PAT) | ₹26.34 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 15.9% | ||||
| Net Profit Margin | 8.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Badshah Masala Private Limited, buy the company report.
Board of directors and KMP of Badshah Masala Private Limited
Badshah Masala Private Limited currently reports 6 directors and 1 key managerial person. 12 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Angelo George | Director | 02 Jan 2023 | 3 Years 9 Months | Current |
| Rajiv Ishwarbhai Mistry Also directs: Ascent Meditech Limited, Flint Management Consultants LLP, Doms Industries Limited and 1 more | Director | 02 Jan 2023 | 3 Years 9 Months | Current |
| Rehan Hasan Also directs: Sesa Care Private Limited | Ceo | 02 Jan 2023 | 3 Years 9 Months | Current |
| Ajaykumar Gunvantrai Shah | Director | 02 Jan 2023 | 3 Years 9 Months | Current |
| Hemant Jawaharlal Jhaveri Also directs: Hemaja Advisors LLP | Managing Director | 21 Dec 2020 | 5 Years 10 Months | Current |
| Mohit Malhotra Also directs: Dabur India Limited, H & B Stores Limited. | Director | 01 Aug 2023 | 3 Years 2 Months | Current |
Showing 6 of 7 current directors and KMP. View all directors and KMP
Peer comparison
Badshah Masala Private Limited is compared with the 6 companies closest to it by revenue in the Food and Beverages industry (Spices), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Suruchi Spices Private Limited | ₹420.75 Cr (FY 2024) | -7.0% | Nagpur, Maharashtra, India | |||
| Pushp Brand (India) Limited | ₹411.99 Cr (FY 2025) | 3.0% | Indore, Madhya Pradesh, India | |||
| Sigma Spice Industries Private Limited | ₹339.87 Cr (FY 2025) | 6.0% | Jorhat, Assam, India | |||
| Badshah Masala Private Limitedthis company | ₹312.66 Cr (FY 2025) | ₹26.34 Cr | 8.4% | 12.0% | 427 | Mumbai, Maharashtra, India |
| Kitchen Xpress Overseas Limited | ₹300.61 Cr (FY 2025) | -10.0% | Ahmedabad, Gujarat, India | |||
| Empire Spices and Foods Limited | ₹295.28 Cr (FY 2024) | -1.0% | Mumbai, Maharashtra, India | |||
| Paras Spices Private Limited | ₹292.24 Cr (FY 2025) | 17.0% | Moga, Punjab, India |
To see the full peer comparison of Badshah Masala Private Limited, buy the company report.
Auditor
Badshah Masala Private Limited is audited by G. Basu & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| G. Basu & Co | FY 2023 | 301174E |
Shareholding
The shareholding of Badshah Masala Private Limited is on record for 2 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2021 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Badshah Masala Private Limited, buy the company report.
Charges & borrowings
Open charges
₹55 Cr
Satisfied charges
₹85 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Dec 2024 | 101019554 | The Hongkong and Shanghai Banking Corporation Limited | ₹20 Cr | Open | |
| 10 Jan 2024 | 100859995 | Axis Bank Limited | ₹35 Cr | Open | |
| 08 Jun 2022 | 100587785 | Others | ₹50 Cr | Satisfied | |
| 31 May 2022 | 100582495 | Others | ₹35 Cr | Satisfied |
To see the full charge records of Badshah Masala Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Badshah Masala Private Limited has 2 deals on record (2 secondary share transfers); the latest was in January 2023.
Total deals
2
Secondary share transfers
2
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2023 | Secondary share transfer | Undisclosed | Buyer: Dabur India Limited , Dabur India Limited & Dharmender Singh, Dabur India Limited & Chandan Agarwal Seller: 3 individuals |
| Jun 2022 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Badshah Masala Private Limited has 2 court cases on record: 2 filed by Badshah Masala. All cases are pending.
Total cases
2
Filed by the company
2
Pending
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 2 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Special civil application | Filed by the company against State of Gujarat and 2 others | Pending |
| High Court of Delhi | Court case (C.A.(COMM.IPD-TM)) | Filed by the company against The Registrar of Trade Marks & Anr. | Pending |
To see the full case history of Badshah Masala Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Badshah Masala Private Limited has 7 MSME Form 1 returns on record between 2021 and 2024, listing 325 overdue payments to 61 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 61)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Ramanlal Manibhai & Co. | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Shri Shivalingeshwar Industries |
To see the full MSME payment records of Badshah Masala Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Badshah Masala Private Limited has a workforce of 427 employees on its EPFO records as of Apr 08, 2024, across 3 active EPFO establishments.
Employee count
427
Active EPFO establishments
3
Employee growth
16.67%
GST
Badshah Masala has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCJ0494B2ZR | Maharashtra | Active | 26 Aug 2022 |
| 24AAFCJ0494B1ZY | Gujarat | Active | 01 Jan 2021 |
To see the full GST registrations and return filing status of Badshah Masala Private Limited, buy the company report.
Recent activity
Badshah Masala Private Limited has 17 board changes on record since 2020: 8 appointments and 9 cessations. The latest: Gagan Ahluwalia was appointed as Additional Director on 06 May 2025.
AGM
Badshah Masala Private Limited last Annual general meeting of members was held on 29 Jul 2025 as per latest MCA records.
Appointed
Gagan Ahluwalia was appointed as Additional Director.
Ceased
Pritam Das Narang ceased to be Director.
Charges
A charge with Axis Bank Limited of Rs. 35.00 Cr registered on 10 Jan 2024 with Charge ID 100859995 was modified on 15 Apr 2025.
Filing
Badshah Masala Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited amounted to Rs. 20.00 Cr with Charge ID 101019554 was registered on 09 Dec 2024.
Charges
A charge with Axis Bank Limited amounted to Rs. 35.00 Cr with Charge ID 100859995 was registered on 10 Jan 2024.
Appointed
Mohit Malhotra was appointed as Director.
Charges
A charge registered on 31 May 2022 via Charge ID 100582495 with Others was fully satisfied on 27 Jan 2023.
Charges
A charge registered on 08 Jun 2022 via Charge ID 100587785 with Others was fully satisfied on 20 Jan 2023.
Appointed
Aditya Bhargava was appointed as CFO.
Appointed
Ajaykumar Gunvantrai Shah was appointed as Director.
17 earlier events are in the company report.
News
Frequently asked questions
Badshah Masala is an active private limited company based in Mumbai, Maharashtra, India. The company works in spice manufacturing and distribution, within the food and beverages industry. It was incorporated on 21 December 2020 (6+ years old) and is registered under CIN U15490MH2020PTC352243.
Badshah Masala has 7 current directors and KMP:
- Hemant Jawaharlal Jhaveri - Managing Director
- Angelo George - Director
- Rajiv Ishwarbhai Mistry - Director
- Ajaykumar Gunvantrai Shah - Director
- Mohit Malhotra - Director
- Gagan Ahluwalia - Additional Director
- Rehan Hasan - Ceo
The latest financial statements of Badshah Masala on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 July 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Badshah Masala is 27AAFCJ0494B2ZR, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 24AAFCJ0494B1ZY (Gujarat).
The CIN (Corporate Identification Number) of Badshah Masala is U15490MH2020PTC352243. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Badshah Masala has 2 court cases on record: 2 filed by the company. 2 are pending.
Badshah Masala was incorporated on 21 December 2020, making it 6+ years old. It is registered with the Registrar of Companies, Mumbai.
Badshah Masala has 2 deals on record (2 secondary share transfers); the latest was in January 2023.
The peers of Badshah Masala by revenue are Suruchi Spices Private Limited, Pushp Brand (India) Limited, Sigma Spice Industries Private Limited, Kitchen Xpress Overseas Limited, Empire Spices and Foods Limited and 1 more, all in the Food and Beverages industry (Spices), with the same principal business activity (food, beverages and tobacco products).
Gagan Ahluwalia was appointed as Additional Director on 06 May 2025. Pritam Das Narang ceased to be Director on 05 May 2025. Mohit Malhotra was appointed as Director on 01 Aug 2023. Badshah Masala has 17 board changes on record in total.
Yes, Badshah Masala is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0036051).
Badshah Masala has 7 MSME Form 1 returns on record between 2021 and 2024, listing 325 overdue payments to 61 micro and small suppliers. The latest return was filed on 24 Apr 2024.