About CG Tollway Limited
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CG Tollway Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 18 October 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH2016PLC286895. Its GSTIN is 27AAGCC6807L1ZC (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹203.5 Cr and a paid-up capital of ₹203.5 Cr. It was formerly known as Cg Tollway Private Limited. It is led by directors including Shilpa Chandrashekhar Todankar and Darshan Suryakant Sangurdekar.
Its last annual general meeting (AGM) was held on 22 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1101 Hiranandani Knowledge Park, Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹129.62 Cr, a growth of 1% compared to the previous year. For the same year it recorded a net loss of ₹121.71 Cr (net margin -93.9%) and EBITDA of ₹75.17 Cr (EBITDA margin 58%). Revenue has declined at a compounded annual rate (CAGR) of 14% over three years and 8% over five years.
The company has about 220 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: IRB Infrastructure Developers. As per MCA filings, the company has open charges of ₹1,400 Cr on record. Court records list 23 cases involving the company, including 19 filed by the company and 4 filed against it; 5 cases are pending. The company has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in March 2020. Its 9 peer companies in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 4 larger and 5 smaller; the largest is Suryapet Khammam Road Private Limited with revenue of ₹131 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website irb.co.in.
Company details
CIN history
CG Tollway has one previous CIN (Corporate Identification Number): U45200MH2016PTC286895. The current CIN is U45200MH2016PLC286895, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45200MH2016PLC286895 | Current |
| U45200MH2016PTC286895 | Previous |
Contact details
CG Tollway Limited's registered office is in Mumbai, Maharashtra. Its website is irb.co.in. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressOff No – 11th Floor/1101 Hiranandani Knowledge Park Technology Street Hill Side Avenue Powa, I, Mumbai, Maharashtra, India – 400076
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of CG Tollway Limited, buy the company report.
- 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
Brands
CG Tollway operates one associated brand: IRB Infrastructure Developers. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of infrastructure development services | irb.co.in |
Business activity
The main business activity of CG Tollway is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
To see the full business activity and turnover split of CG Tollway Limited, buy the company report.
Financials of CG Tollway Limited
FY 2025 filings availableCG Tollway Limited reported revenue of ₹129.62 Cr (up 1% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 1% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 8%. EBITDA fell 3% 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 | ₹75.17 Cr | ||||
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| Net Profit (PAT) | -₹121.71 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 | 58% | ||||
| Net Profit Margin | -93.9% | ||||
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To see the full financial statements and ratios of CG Tollway Limited, buy the company report.
Board of directors of CG Tollway Limited
CG Tollway has 4 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shilpa Chandrashekhar Todankar Also directs: Udaipur Tollway Limited, Ae Tollway Limited, Yedeshi Aurangabad Tollway Limited and 5 more | Director | 26 Feb 2020 | 6 Years 7 Months | Current |
| Darshan Suryakant Sangurdekar Also directs: Irb Surat Dahisar Tollway Limited, Yedeshi Aurangabad Tollway Limited, M.V.R. Infrastructure and Tollways Limited and 3 more | Director | 19 Oct 2019 | 7 Years 0 Months | Current |
| Abhay Prabhakar Phatak Also directs: Udaipur Tollway Limited, Ae Tollway Limited, Yedeshi Aurangabad Tollway Limited and 5 more | Director | 09 Mar 2022 | 4 Years 7 Months | Current |
| Chandrashekhar Shankarrao Kaptan Also directs: Irb Surat Dahisar Tollway Limited, Irb Talegaon Amravati Tollway Limited, Udaipur Tollway Limited and 4 more | Director | 26 Feb 2020 | 6 Years 7 Months | Current |
Peer comparison
CG Tollway Limited is compared with the 9 companies closest to it by revenue in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Suryapet Khammam Road Private Limited | ₹131 Cr (FY 2025) | -16.0% | Ahmedabad, Gujarat, India | |||
| Naraindas Construction Pvt Ltd | ₹130.57 Cr (FY 2025) | 25.0% | Kolkata, West Bengal, India | |||
| GMR Hyderabad Vijayawada Expressways Private Limited | ₹130.49 Cr (FY 2025) | -73.0% | Bangalore, Karnataka, India | |||
| J. K. Engicon Private Limited | ₹129.79 Cr (FY 2025) | 51.0% | Chapra, Bihar, India | |||
| CG Tollway Limitedthis company | ₹129.62 Cr (FY 2025) | -₹121.71 Cr | -93.9% | 1.0% | 220 | Mumbai, Maharashtra, India |
| DS Toll Road Limited | ₹129.43 Cr (FY 2025) | 30.0% | Mumbai, Maharashtra, India | |||
| GMR Highways Limited | ₹129.42 Cr (FY 2025) | -28.0% | Mumbai, Maharashtra, India | |||
| Srinagar Banihal Expressway Limited | ₹129.14 Cr (FY 2025) | -6.0% | Hyderabad, Telangana, India | |||
| Balaji D. Ajmer Highways Private Limited | ₹129.01 Cr (FY 2025) | 35.0% | Ajmer, Rajasthan, India | |||
| Shreenathji-Udaipur Tollway Private Limited | ₹128.65 Cr (FY 2025) | 7.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of CG Tollway Limited, buy the company report.
Auditor
CG Tollway Limited is audited by GOKHALE & SATHE for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GOKHALE & SATHE | FY 2023 | 103264W |
Shareholding
The shareholding of CG Tollway Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of CG Tollway Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Feb 2018 | 100155303 | Sbicap Trustee Company Limited | ₹1,400 Cr | Open |
To see the full charge records of CG Tollway Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
CG Tollway Limited has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in March 2020.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: IRB Infrastructure Trust Seller: Irb Infrastructure Developers Limited |
| Mar 2020 | Rights issue | ₹61.05 Cr | Investors: IRB Infrastructure Trust |
| Nov 2017 | Rights issue | ₹142.4 Cr | Investors: Irb Infrastructure Developers Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
CG Tollway Limited has 23 court cases on record: 19 filed by CG Tollway, 4 filed against it. 5 cases are pending and 18 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 17 | 3 | 4 |
| Supreme Court | 6 | 1 | 1 |
Cases on record (5 of 23)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Rajasthan | Writ petition | Filed against the company by Udaipur Tollway Limited | Disposed |
| High Court of Rajasthan | Writ petition | Filed against the company | Pending |
| Supreme Court | Appeal | Filed by the company against Union of India | Pending |
| High Court of Rajasthan | Court case (WMAP) | Filed by the company against The Union of India | Pending |
| High Court of Delhi | Writ petition | Filed against the company by National Highways Authority of India | Pending |
To see the full case history of CG Tollway 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.
Credit ratings & regulatory alerts
CG Tollway Limited was last rated by Care on 31 Mar 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 31 Mar 2026 |
To see the full credit ratings and regulatory alerts of CG Tollway Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for CG Tollway Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
CG Tollway Limited has a workforce of 220 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
CG Tollway has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAGCC6807L1ZC | Maharashtra | Active | 01 Jul 2017 |
| 08AAGCC6807L1ZC | Rajasthan | Active | 13 Sep 2017 |
To see the full GST registrations and return filing status of CG Tollway Limited, buy the company report.
Recent activity
CG Tollway Limited has 15 board changes on record since 2018: 4 appointments and 11 cessations. The latest: Abhay Prabhakar Phatak ceased to be Additional Director on 22 Jun 2022.
8 earlier events are in the company report.
News
Frequently asked questions
CG Tollway is an active public limited company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 18 October 2016 (10+ years old) and is registered under CIN U45200MH2016PLC286895.
CG Tollway has 4 current directors:
- Shilpa Chandrashekhar Todankar - Director
- Darshan Suryakant Sangurdekar - Director
- Abhay Prabhakar Phatak - Director
- Chandrashekhar Shankarrao Kaptan - Director
The latest financial statements of CG Tollway on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 22 July 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of CG Tollway is 27AAGCC6807L1ZC, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 08AAGCC6807L1ZC (Rajasthan).
The CIN (Corporate Identification Number) of CG Tollway is U45200MH2016PLC286895. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
CG Tollway has 23 court cases on record: 19 filed by the company and 4 filed against it. 5 are pending. Most are in the high courts.
CG Tollway was incorporated on 18 October 2016, making it 10+ years old. It is registered with the Registrar of Companies, Mumbai.
CG Tollway has 3 deals on record (2 rights issues, 1 secondary share transfer); the latest was in March 2020.
The peers of CG Tollway by revenue are Suryapet Khammam Road Private Limited, Naraindas Construction Pvt Ltd, GMR Hyderabad Vijayawada Expressways Private Limited, J. K. Engicon Private Limited, DS Toll Road Limited and 4 more, all in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Abhay Prabhakar Phatak ceased to be Additional Director on 22 Jun 2022. Abhay Prabhakar Phatak was appointed as Director on 09 Mar 2022. Chandrashekhar Shankarrao Kaptan ceased to be Additional Director on 11 Sep 2020. CG Tollway has 15 board changes on record in total.
CG Tollway can be reached through the website irb.co.in. Its registered office is in Mumbai, Maharashtra, India.