MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-01-0004461
Circuit Systems (India) Private Limited - information technology in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹74.12 Cr
▲ 10% YoY
Net profit · FY 2025
₹11.84 Cr
Net margin 16%
EBITDA · FY 2025
₹21.14 Cr
EBITDA margin 28.5%
Authorised capital
₹16 Cr
Registered with MCA
Paid-up capital
₹9.7 Cr
Issued & subscribed
Open charges
₹10 Cr
Satisfied ₹51.15 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
372
Provident fund records
About Circuit Systems (India) Private Limited
Data last updated:
Circuit Systems (India) Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 08 February 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U74140GJ1995PTC024524. Its GSTIN is 24AAACC7706J1ZS (Gujarat).
The company has an authorised share capital of ₹16 Cr and a paid-up capital of ₹9.7 Cr. It is led by directors including Preeti Amit Chouksey (Whole-Time Director) and Khushal Kevaldas Panchal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Jayantilal Park, Ahmedabad, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹74.12 Cr, a growth of 10% compared to the previous year. For the same year it recorded a net profit of ₹11.84 Cr (net margin 16%) and EBITDA of ₹21.14 Cr (EBITDA margin 28.5%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years and 19% over five years.
The company has about 372 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 3 brands: PCB Power Market, Indian PCB and PCB Wala. As per MCA filings, the company has open charges of ₹10 Cr and satisfied charges of ₹51.15 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 7 deals on record (6 market trades, 1 ipo); the latest was in July 2011. Its 4 peer companies in the Information Technology industry (Electronic Equipment and Components Manufacturing), with the same principal business activity (computer, electronic, communication and scientific measuring & control equipment) are compared by revenue, 4 smaller; the largest is Synegra Ems Limited with revenue of ₹89.24 Cr. The company has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 2 overdue payments to 2 micro and small suppliers.
Circuit Systems (India) Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0004461). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website pcbpower.com.
Company details
CIN U74140GJ1995PTC024524
Registration Number 024524
Incorporation Date 08 February 1995
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-01-0004461
CIN history
Circuit Systems (India) has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U74140GJ1995PTC024524, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74140GJ1995PTC024524 | Current |
| U74140GJ1995PLC024524 | Previous |
| L74140GJ1995PLC024524 | Previous |
Key People
Preeti Amit Chouksey Whole-Time Director Khushal Kevaldas Panchal Whole-Time Director Paresh Navnit Vasani Director Recognitions & Rankings of Circuit Systems (India)
Contact details
Circuit Systems (India) Private Limited's registered office is in Ahmedabad, Gujarat. Its website is pcbpower.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No.1001 10th Floor One42 South Tower Nr Ashok Vatika Opp.Jayantilal Park Brts Ambli, Bopal Road, Ahmedabad, Gujarat, India – 380058
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
To see the full contact details of Circuit Systems (India) Private Limited, buy the company report.
Comprehensive company report
Circuit Systems (India) 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Circuit Systems (India) operates multiple associated brands including PCB Power Market, Indian PCB, and PCB Wala. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| PCB design, fabrication, and assembly services in electronics manufacturing. | pcbpower.com | |
| PCB design, fabrication, and assembly services for electronics industries. | pcbwala.com | |
| PCB manufacturing, fabrication, assembly, and component sourcing services in India and the USA. | indianpcb.com |
Business activity
The main business activity of Circuit Systems (India) is manufacturing. In detail, this covers computer, electronic, communication and scientific measuring & control equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment |
To see the full business activity and turnover split of Circuit Systems (India) Private Limited, buy the company report.
Financials of Circuit Systems (India) Private Limited
FY 2025 filings availableCircuit Systems (India) Private Limited reported revenue of ₹74.12 Cr (up 10% YoY) for FY 2025.
Revenue · FY 2025
₹74.12 Cr ▲ 10%
Net profit · FY 2025
₹11.84 Cr margin 16%
EBITDA · FY 2025
₹21.14 Cr margin 28.5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 10%
3 years · compounded
▲ 18%
5 years · compounded
▲ 19%
EBITDA CAGR growth
1 year
▲ 11%
3 years · compounded
▲ 41%
5 years · compounded
▲ 34%
Revenue has grown at a compounded annual rate (CAGR) of 19% over five years, including 10% growth in the latest year. EBITDA rose 11% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹74.12 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹21.14 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.84 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 28.5% | ||||
| Net Profit Margin | 16% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Circuit Systems (India) Private Limited, buy the company report.
Board of directors of Circuit Systems (India) Private Limited
Circuit Systems (India) has 4 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Preeti Amit Chouksey | Whole-Time Director | 18 May 2026 | 0 Years 5 Months | Current |
| Paresh Navnit Vasani Also directs: Navorix LLP, Mechpower Technology Private Limited, Eurocircuits India Private Limited and 4 more | Director | 18 May 2026 | 0 Years 5 Months | Current |
| Khushal Kevaldas Panchal | Whole-Time Director | 18 May 2026 | 0 Years 5 Months | Current |
| Sapankumar Chokshi | Director | 18 May 2026 | 0 Years 5 Months | Current |
Peer comparison
Circuit Systems (India) Private Limited is compared with the 4 companies closest to it by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing), with the same principal business activity (computer, electronic, communication and scientific measuring & control equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Synegra Ems Limited | ₹89.24 Cr (FY 2024) | 62.0% | Salcette, Goa, India | |||
| Tecniqua India Private Limited | ₹88.57 Cr (FY 2025) | 78.0% | Noida, Uttar Pradesh, India | |||
| Sun Data Processing Private Limited | ₹88.02 Cr (FY 2025) | 36.0% | Vasai, Maharashtra, India | |||
| Neo Power Electronics and Projects Private Limited | ₹87.14 Cr (FY 2025) | 32.0% | Thane, Maharashtra, India | |||
| Circuit Systems (India) Private Limitedthis company | ₹74.12 Cr (FY 2025) | ₹11.84 Cr | 16% | 10.0% | 372 | Ahmedabad, Gujarat, India |
To see the full peer comparison of Circuit Systems (India) Private Limited, buy the company report.
Auditor
Circuit Systems (India) Private Limited is audited by HEMANSHU SHAH & CO for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| HEMANSHU SHAH & CO | FY 2025 | 122439W |
Shareholding
The shareholding of Circuit Systems (India) Private Limited 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 Circuit Systems (India) Private Limited, buy the company report.
Charges & borrowings
Open charges
₹10 Cr
Satisfied charges
₹51.15 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Sep 2015 | 10599910 | Hdfc Bank Limited | ₹10 Cr | Open | |
| 11 May 2023 | 100731362 | Hdfc Bank Limited | ₹9.75 Cr | Satisfied | |
| 18 Feb 2022 | 100554746 | Hdfc Bank Limited | ₹3 Cr | Satisfied | |
| 23 May 2019 | 100269469 | Others | ₹3.5 Cr | Satisfied | |
| 28 Mar 2012 | 10347327 | The Kalupur Commercial Co Operative Bank Limited | ₹5 Cr | Satisfied |
To see the full charge records of Circuit Systems (India) Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Circuit Systems (India) Private Limited has 7 deals on record (6 market trades, 1 ipo); the latest was in July 2011.
Total deals
7
Market trades
6
IPO
1
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2011 | Market trade | ₹45.7 Lakh | Buyer: an individual Seller: an individual |
| Jun 2011 | Market trade | ₹6.15 Cr | Buyer: an individual Seller: 2 individuals |
| Jun 2011 | Market trade | ₹84.8 Lakh | Buyer: an individual Seller: an individual |
| Jan 2008 | Market trade | ₹31.2 Lakh | Seller: Latin Manharlal Sec Pvt Ltd |
| Dec 2007 | Market trade | ₹34.8 Lakh | Buyer: Latin Manharlal Sec Pvt Ltd |
To see the full deal history of Circuit Systems (India) Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Circuit Systems (India) Private Limited has 1 court case on record: 1 filed by Circuit Systems (India). All case is disposed.
Total cases
1
Filed by the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against an individual | Disposed |
To see the full case history of Circuit Systems (India) 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.
Credit ratings & regulatory alerts
Circuit Systems (India) Private Limited was last rated by Care on 09 Jan 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 09 Jan 2026 |
To see the full credit ratings and regulatory alerts of Circuit Systems (India) Private Limited, buy the company report.
MSME payment delays
Circuit Systems (India) Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 2 overdue payments to 2 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 (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Shiv Chem |
To see the full MSME payment records of Circuit Systems (India) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Circuit Systems (India) has 1 subsidiary company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| PCB Power (India) Limited | U31909GJ2006PLC047552 |
To see the full group structure of Circuit Systems (India) Private Limited, buy the company report.
Employees & EPFO
Circuit Systems (India) Private Limited has a workforce of 372 employees on its EPFO records as of Oct 11, 2025, across 5 active EPFO establishments.
Employee count
372
Active EPFO establishments
5
Employee growth
16.25%
GST
Circuit Systems (India) has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACC7706J1ZS | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Circuit Systems (India) Private Limited, buy the company report.
Recent activity
Circuit Systems (India) Private Limited has 18 board changes on record since 2008: 4 appointments and 14 cessations. The latest: Khushal Kevaldas Panchal was appointed as Whole-Time Director on 18 May 2026.
Appointed
Khushal Kevaldas Panchal was appointed as Whole-Time Director.
Appointed
Paresh Navnit Vasani was appointed as Director.
Appointed
Preeti Amit Chouksey was appointed as Whole-Time Director.
Appointed
Sapankumar Chokshi was appointed as Director.
Charges
A charge registered on 11 May 2023 via Charge ID 100731362 with Hdfc Bank Limited was fully satisfied on 09 Apr 2026.
Charges
A charge with Hdfc Bank Limited of Rs. 10.00 Cr registered on 30 Sep 2015 with Charge ID 10599910 was modified on 17 Mar 2026.
AGM
Circuit Systems (India) Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Circuit Systems (India) Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Sureshbhai Muljibhai Poojara ceased to be Director.
Charges
A charge registered on 18 Feb 2022 via Charge ID 100554746 with Hdfc Bank Limited was fully satisfied on 27 Jun 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 9.75 Cr with Charge ID 100731362 was registered on 11 May 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 3.00 Cr with Charge ID 100554746 was registered on 18 Feb 2022.
25 earlier events are in the company report.
Frequently asked questions
Circuit Systems (India) is an active private limited company based in Ahmedabad, Gujarat, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 08 February 1995 (31+ years old) and is registered under CIN U74140GJ1995PTC024524.
Circuit Systems (India) has 4 current directors:
- Preeti Amit Chouksey - Whole-Time Director
- Khushal Kevaldas Panchal - Whole-Time Director
- Paresh Navnit Vasani - Director
- Sapankumar Chokshi - Director
The latest financial statements of Circuit Systems (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Circuit Systems (India) is 24AAACC7706J1ZS, registered in Gujarat.
The CIN (Corporate Identification Number) of Circuit Systems (India) is U74140GJ1995PTC024524. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Circuit Systems (India) has 1 court case on record: 1 filed by the company.
Circuit Systems (India) was incorporated on 08 February 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Circuit Systems (India) has 7 deals on record (6 market trades, 1 ipo); the latest was in July 2011.
The peers of Circuit Systems (India) by revenue are Synegra Ems Limited, Tecniqua India Private Limited, Sun Data Processing Private Limited, Neo Power Electronics and Projects Private Limited, all in the Information Technology industry (Electronic Equipment and Components Manufacturing), with the same principal business activity (computer, electronic, communication and scientific measuring & control equipment).
Khushal Kevaldas Panchal was appointed as Whole-Time Director on 18 May 2026. Paresh Navnit Vasani was appointed as Director on 18 May 2026. Preeti Amit Chouksey was appointed as Whole-Time Director on 18 May 2026. Circuit Systems (India) has 18 board changes on record in total.
Yes, Circuit Systems (India) is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-01-0004461).
Circuit Systems (India) has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 2 overdue payments to 2 micro and small suppliers. The latest return was filed on 08 Jun 2019.