MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-01-0140918
Baroque Pharmaceuticals Pvt Ltd - pharma in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹102.39 Cr
▲ 7% YoY
Net profit · FY 2025
₹11.2 Cr
Net margin 10.9%
EBITDA · FY 2025
₹24.88 Cr
EBITDA margin 24.3%
Authorised capital
₹5.27 Cr
Registered with MCA
Paid-up capital
₹1.68 Cr
Issued & subscribed
Open charges
₹129.6 Cr
Satisfied ₹7.51 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
227
Provident fund records
About Baroque Pharmaceuticals Pvt Ltd
Data last updated:
Baroque Pharmaceuticals Pvt Ltd is a private limited company based in Ahmedabad, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 23 November 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24230GJ1993PTC020695. Its GSTIN is 24AAACB6277H1ZQ (Gujarat).
The company has an authorised share capital of ₹5.27 Cr and a paid-up capital of ₹1.68 Cr. It was formerly known as Baroque Pharmaceuticals Limited. It is led by directors including Jayantibhai Dhulabhai Patel (Managing Director) and Jignesh Mayurbhai Patel (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at D – 403 Titanium Square S.G.Highway Thaltej, Ahmedabad, Gujarat, India – 380054.
As per the financials filed for FY 2025, the company reported a revenue of ₹102.39 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net profit of ₹11.2 Cr (net margin 10.9%) and EBITDA of ₹24.88 Cr (EBITDA margin 24.3%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 4% over five years.
The company has about 227 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Baroque Pharma. As per MCA filings, the company has open charges of ₹129.6 Cr and satisfied charges of ₹7.51 Cr on record. Court records list 14 cases involving the company, including 9 filed by the company and 5 filed against it; 5 cases are pending. The company has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹15.45 Cr; the latest was in March 2023. Its 6 peer companies in the Pharma industry (Formulations, Pharmaceuticals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 3 larger and 3 smaller; the largest is Vasista Pharma Chem Private Limited with revenue of ₹103.26 Cr.
Baroque Pharmaceuticals Pvt Ltd is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0140918). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website baroquepharma.com.
Company details
CIN U24230GJ1993PTC020695
Registration Number 020695
Incorporation Date 23 November 1993
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-01-0140918
Key People
Jayantibhai Dhulabhai Patel Managing Director Jignesh Mayurbhai Patel Whole-Time Director Lalit Rameshchandra Saraswat Director Recognitions & Rankings of Baroque Pharmaceuticals
Contact details
Baroque Pharmaceuticals Pvt Ltd's registered office is in Ahmedabad, Gujarat. Its website is baroquepharma.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressD – 403 Titanium Square S.G.Highway Thaltej, Ahmedabad, Gujarat, India – 380054
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Comprehensive company report
Baroque Pharmaceuticals Pvt Ltd - 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
Baroque Pharmaceuticals operates one associated brand: Baroque Pharma. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Affordable pharmaceuticals are manufactured across therapeutic categories. | baroquepharma.com |
Business activity
The main business activity of Baroque Pharmaceuticals is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Financials of Baroque Pharmaceuticals Pvt Ltd
FY 2024 filings availableBaroque Pharmaceuticals Pvt Ltd reported revenue of ₹102.39 Cr (up 7% YoY) for FY 2025.
Revenue · FY 2025
₹102.39 Cr ▲ 7%
Net profit · FY 2025
₹11.2 Cr margin 10.9%
EBITDA · FY 2025
₹24.88 Cr margin 24.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 7%
3 years · compounded
▲ 2%
5 years · compounded
▲ 4%
EBITDA CAGR growth
1 year
▲ 19%
5 years · compounded
▲ 6%
Revenue has grown at a compounded annual rate (CAGR) of 4% over five years, including 7% growth in the latest year. EBITDA rose 19% 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 | ₹24.88 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.2 Cr | ||||
| Balance Sheet | |||||
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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 | 24.3% | ||||
| Net Profit Margin | 10.9% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Board of directors of Baroque Pharmaceuticals Pvt Ltd
Baroque Pharmaceuticals has 4 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jignesh Mayurbhai Patel | Whole-Time Director | 01 Apr 2008 | 18 Years 6 Months | Current |
| Jayantibhai Dhulabhai Patel | Managing Director | 01 Apr 1996 | 30 Years 6 Months | Current |
| Lalit Rameshchandra Saraswat | Director | 01 May 2011 | 15 Years 5 Months | Current |
| Pragnesh Jayantibhai Patel | Director | 01 May 2003 | 23 Years 5 Months | Current |
Peer comparison
Baroque Pharmaceuticals Pvt Ltd is compared with the 6 companies closest to it by revenue in the Pharma industry (Formulations, Pharmaceuticals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vasista Pharma Chem Private Limited | ₹103.26 Cr (FY 2025) | 22.0% | Atchutapuram, Andhra Pradesh, India | |||
| Satyadeva Pharmaceuticals Private Limited | ₹102.95 Cr (FY 2025) | 5.0% | Medak, Telangana, India | |||
| Aura Lifecare Private Limited | ₹102.72 Cr (FY 2025) | 15.0% | Savli, Gujarat, India | |||
| Baroque Pharmaceuticals Pvt Ltdthis company | ₹102.39 Cr (FY 2025) | ₹11.2 Cr | 10.9% | 7.0% | 227 | Ahmedabad, Gujarat, India |
| Makson Industries Private Limited | ₹101.93 Cr (FY 2018) | 4.0% | Mandideep, Madhya Pradesh, India | |||
| Maan Pharmaceuticals Ltd | ₹101.88 Cr (FY 2025) | -4.0% | Ahmedabad, Gujarat, India | |||
| Bueno Salud Care (India) Private Limited | ₹101.84 Cr (FY 2025) | 30.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Auditor
Baroque Pharmaceuticals Pvt Ltd is audited by B C PATEL AND COMPANY for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B C PATEL AND COMPANY | FY 2024 | 107667W |
Shareholding
The shareholding of Baroque Pharmaceuticals Pvt Ltd is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Charges & borrowings
Open charges
₹129.6 Cr
Satisfied charges
₹7.51 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Mar 2016 | 100018201 | State Bank of India | ₹62.8 Cr | Open | |
| 18 Mar 2016 | 100018219 | State Bank of India | ₹62.8 Cr | Open | |
| 20 Dec 2014 | 10567345 | State Bank of India | ₹4 Cr | Open | |
| 01 Oct 2016 | 100081011 | Hdfc Bank Limited | ₹12 Lakh | Satisfied | |
| 09 Mar 2015 | 10569906 | State Bank of India | ₹45 Lakh | Satisfied |
To see the full charge records of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Total charge records: 12 View all charges
Deals & funding
Baroque Pharmaceuticals Pvt Ltd has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹15.45 Cr; the latest was in March 2023.
Total deals
8
Secondary share transfers
5
Funding rounds
3
Disclosed funding
₹15.45 Cr
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Replica Remedies Private Limited |
| Mar 2018 | Funding round | ₹10.67 Cr | Investors: Replica Remedies Private Limited , an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2016 | Funding round | ₹4.54 Cr | Investors: Replica Remedies Private Limited , Jayantibhal Dhulabhai Patel Huf, 2 individuals |
To see the full deal history of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Baroque Pharmaceuticals Pvt Ltd has 14 court cases on record: 9 filed by Baroque Pharmaceuticals, 5 filed against it. 5 cases are pending and 9 are disposed.
Total cases
14
Filed by the company
9
Filed against the company
5
Pending
5
Disposed
9
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 12 | 4 | 4 |
| High courts | 2 | 1 | 1 |
Cases on record (5 of 14)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Anand, Gujarat | Criminal miscellaneous application | Filed against the company | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against an individual | Pending |
| High Court, GUJARAT | Court case (SCR.A) | Filed against the company by individuals | Pending |
| District court, Anand, Gujarat | Criminal complaint | Filed by the company against an individual | Pending |
| District court, Jalandhar, Punjab | Commercial suit | Filed against the company | Pending |
To see the full case history of Baroque Pharmaceuticals Pvt Ltd, 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.
Credit ratings & regulatory alerts
Baroque Pharmaceuticals Pvt Ltd was last rated by Crisil on 07 Sep 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 07 Sep 2020 |
To see the full credit ratings and regulatory alerts of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Baroque Pharmaceuticals Pvt Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Baroque Pharmaceuticals Pvt Ltd has a workforce of 227 employees on its EPFO records as of Jan 08, 2026, across 1 active EPFO establishment.
Employee count
227
Active EPFO establishments
1
Employee growth
9.66%
GST
Baroque Pharmaceuticals has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACB6277H1ZQ | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Baroque Pharmaceuticals Pvt Ltd, buy the company report.
Recent activity
Baroque Pharmaceuticals Pvt Ltd has 7 board changes on record since 1996: 4 appointments and 3 cessations. The latest: Lalit Rameshchandra Saraswat ceased to be Additional Director on 29 Sep 2012.
AGM
Baroque Pharmaceuticals Pvt Ltd last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Baroque Pharmaceuticals Pvt Ltd has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ahmedabad.
Charges
A charge with State Bank Of India of Rs. 62.80 Cr registered on 18 Mar 2016 with Charge ID 100018201 was modified on 27 Mar 2023.
Charges
A charge with State Bank Of India of Rs. 62.80 Cr registered on 18 Mar 2016 with Charge ID 100018219 was modified on 27 Mar 2023.
Charges
A charge registered on 09 Mar 2015 via Charge ID 10569906 with State Bank Of India was fully satisfied on 21 Apr 2022.
Charges
A charge registered on 30 Jul 2007 via Charge ID 10063884 with Bank Of Baroda was fully satisfied on 07 Jul 2020.
Charges
A charge registered on 22 Mar 2001 via Charge ID 90102688 with Bank Of Baroda was fully satisfied on 07 Jul 2020.
Charges
A charge registered on 03 Jan 2001 via Charge ID 90099300 with Bank Of Baroda was fully satisfied on 07 Jul 2020.
Charges
A charge registered on 30 Jan 1997 via Charge ID 90102620 with Bank Of Baroda was fully satisfied on 07 Jul 2020.
Charges
A charge registered on 26 Jul 1994 via Charge ID 90097933 with Bank Of Baroda was fully satisfied on 07 Jul 2020.
Charges
A charge registered on 01 Oct 2016 via Charge ID 100081011 with Hdfc Bank Limited was fully satisfied on 26 Nov 2018.
Charges
A charge registered on 29 Mar 2010 via Charge ID 10215339 with Bank Of Baroda was fully satisfied on 12 Jul 2018.
24 earlier events are in the company report.
Frequently asked questions
Baroque Pharmaceuticals is an active private limited company based in Ahmedabad, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 23 November 1993 (33+ years old) and is registered under CIN U24230GJ1993PTC020695.
Baroque Pharmaceuticals has 4 current directors:
- Jayantibhai Dhulabhai Patel - Managing Director
- Jignesh Mayurbhai Patel - Whole-Time Director
- Lalit Rameshchandra Saraswat - Director
- Pragnesh Jayantibhai Patel - Director
The latest financial statements of Baroque Pharmaceuticals on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Baroque Pharmaceuticals is 24AAACB6277H1ZQ, registered in Gujarat.
The CIN (Corporate Identification Number) of Baroque Pharmaceuticals is U24230GJ1993PTC020695. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Baroque Pharmaceuticals has 14 court cases on record: 9 filed by the company and 5 filed against it. 5 are pending. Most are in the district courts.
Baroque Pharmaceuticals was incorporated on 23 November 1993, making it 33+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Baroque Pharmaceuticals has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹15.45 Cr; the latest was in March 2023.
The peers of Baroque Pharmaceuticals by revenue are Vasista Pharma Chem Private Limited, Satyadeva Pharmaceuticals Private Limited, Aura Lifecare Private Limited, Makson Industries Private Limited, Maan Pharmaceuticals Ltd and 1 more, all in the Pharma industry (Formulations, Pharmaceuticals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Lalit Rameshchandra Saraswat ceased to be Additional Director on 29 Sep 2012. Jayantibhai Dhulabhai Patel ceased to be Director on 27 Apr 2012. Lalit Rameshchandra Saraswat was appointed as Director on 01 May 2011. Baroque Pharmaceuticals has 7 board changes on record in total.
Yes, Baroque Pharmaceuticals is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-01-0140918).