Citizen Industries Private Limited

Citizen Industries Private Limited - machinery and equipment in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN U29190GJ1995PTC027009 Incorporated 07 August 1995 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Private Limited Company machinery and equipment MSME · Medium
Data last updated
Revenue · FY 2025
₹287.83 Cr
▲ 34% YoY
Net profit · FY 2025
₹9.91 Cr
Net margin 3.4%
EBITDA · FY 2025
₹20.61 Cr
EBITDA margin 7.2%
Authorised capital
₹1 Cr
Registered with MCA
Paid-up capital
₹71.78 Lakh
Issued & subscribed
Open charges
₹29.05 Cr
Satisfied ₹57.37 Cr
Company age
31 yrs
Est. 1995
Directors on board
3
As per MCA filings

About Citizen Industries Private Limited

Data last updated:

Citizen Industries Private Limited is a private limited company based in Ahmedabad, Gujarat, India, a subsidiary of Daikin Airconditioning India Private Limited. It operates in the industrial compressors and pneumatic systems segment of the machinery and industrial equipment sector. It was incorporated on 07 August 1995 and has been in existence for over 31 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U29190GJ1995PTC027009. Its GSTIN is 24AAACC7814P1ZF (Gujarat). The company holds 4 GST registrations, of which 3 are active.

The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹71.78 Lakh. It was formerly known as Citizen Industries Limited. It is led by directors including Kapil Bhatia (Managing Director) and Kanwal Jeet Jawa.

Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ahmedabad, Gujarat.

As per the financials filed for FY 2025, the company reported a revenue of ₹287.83 Cr, a growth of 34% compared to the previous year. For the same year it recorded a net profit of ₹9.91 Cr (net margin 3.4%) and EBITDA of ₹20.61 Cr (EBITDA margin 7.2%). Revenue has grown at a compounded annual rate (CAGR) of 22% over three years and 22% over five years.

The company is associated with 1 brand: Citizen Industries. As per MCA filings, the company has open charges of ₹29.05 Cr and satisfied charges of ₹57.37 Cr on record. Court records list 16 cases involving the company, including 16 filed by the company; 4 cases are pending. The company has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹36.99 Cr; the latest was in February 2021. Its 7 peer companies in the Machinery and Equipment industry (Compressors), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 3 larger and 4 smaller; the largest is KRN Heat Exchanger and Refrigeration Limited with revenue of ₹441.71 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2022, listing 1,644 overdue payments to 164 micro and small suppliers.

Citizen Industries Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0012439). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website citizenindustries.in.

Company details

CIN U29190GJ1995PTC027009
Registration Number 027009
Incorporation Date 07 August 1995
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 24 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Daikin Airconditioning India Private Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-01-0012439

CIN history

Citizen Industries has one previous CIN (Corporate Identification Number): U29190GJ1995PLC027009. The current CIN is U29190GJ1995PTC027009, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U29190GJ1995PTC027009Current
U29190GJ1995PLC027009Previous
Key People
Kapil Bhatia Managing Director Kanwal Jeet Jawa Director Lingaraj Pattnaik Director

Recognitions & Rankings of Citizen Industries

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-GJ-01-0012439

Contact details

Citizen Industries Private Limited's registered office is in Ahmedabad, Gujarat. Its website is citizenindustries.in. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    citizenindustries.in
  • Social Media
  • Registered Address
    1002 & 1003 10th Floor A – Wing Commerce House – 5 Besides Vodafone House Corporate Road Pr, Ahladnagar, Ahmedabad, Gujarat, India – 380051
  • Industry
    Machinery and Equipment, Industrial Compressors & Pneumatic Systems

To see the full contact details of Citizen Industries Private Limited, buy the company report.

Comprehensive company report
Citizen Industries 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

Citizen Industries operates one associated brand: Citizen Industries. Each brand links to its own profile.

BrandDescriptionWebsite
Citizen Industries
Manufacturer of air and fan coil handling unitscitizenindustries.in

Business activity

The main business activity of Citizen Industries is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment

To see the full business activity and turnover split of Citizen Industries Private Limited, buy the company report.

Financials of Citizen Industries Private Limited

FY 2025 filings available

Citizen Industries Private Limited reported revenue of ₹287.83 Cr (up 34% YoY) for FY 2025.

Revenue · FY 2025
₹287.83 Cr ▲ 34%
Net profit · FY 2025
₹9.91 Cr margin 3.4%
EBITDA · FY 2025
₹20.61 Cr margin 7.2%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 34%
3 years · compounded
▲ 22%
5 years · compounded
▲ 22%
EBITDA CAGR growth
1 year
▲ 18%
3 years · compounded
▲ 32%
5 years · compounded
▲ 11%

Revenue has grown at a compounded annual rate (CAGR) of 22% over five years, including 34% growth in the latest year. EBITDA rose 18% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profit and Loss Statement
Revenue from Operations
Other Income
Total Revenue
Cost of Materials Consumed
Employee Benefit Expense
Finance Costs
Depreciation and Amortisation
Other Expenses
Total Expenses
EBITDA₹20.61 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹9.91 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin7.2%
Net Profit Margin3.4%
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 Citizen Industries Private Limited, buy the company report.

Board of directors of Citizen Industries Private Limited

Citizen Industries has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Kapil BhatiaManaging Director21 Dec 20232 Years 10 MonthsCurrent
Kanwal Jeet Jawa
Also directs: Daikin Airconditioning India Private Limited
Director03 Feb 20215 Years 8 MonthsCurrent
Lingaraj Pattnaik
Also directs: Daikin Rechi India Private Limited, Aaf India Private Limited, Daikin Chemical India Private Limited
Director03 Feb 20215 Years 8 MonthsCurrent
View all directors

Peer comparison

Citizen Industries Private Limited is compared with the 7 companies closest to it by revenue in the Machinery and Equipment industry (Compressors), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
KRN Heat Exchanger and Refrigeration Limited₹441.71 Cr (FY 2025)41.0%Neemrana, Rajasthan, India
Climaveneta Climate Technologies Private Limited₹417.97 Cr (FY 2025)27.0%Bangalore, Karnataka, India
Kruger Ventilation Industries (India) Private Limited₹303.12 Cr (FY 2025)10.0%Shahapur, Maharashtra, India
Citizen Industries Private Limitedthis company₹287.83 Cr (FY 2025)₹9.91 Cr3.4%34.0%Ahmedabad, Gujarat, India
Kirloskar Chillers Private Limited₹272.02 Cr (FY 2025)37.0%Pune, Maharashtra, India
L&T Howden Private Limited₹256.81 Cr (FY 2025)-8.0%Mumbai, Maharashtra, India
Desiccant Rotors International Private Limited₹256.61 Cr (FY 2025)3.0%Delhi, India
Indian Compressors Limited₹244.39 Cr (FY 2025)2.0%New Delhi, Delhi, India

To see the full peer comparison of Citizen Industries Private Limited, buy the company report.

Auditor

Citizen Industries Private Limited is audited by Anil N. Shah & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Anil N. Shah & Co.FY 2023114131W

Shareholding

The shareholding of Citizen Industries Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2023FY 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Citizen Industries Private Limited, buy the company report.

Charges & borrowings

Open charges
₹29.05 Cr
Satisfied charges
₹57.37 Cr
Breakdown by lending institutions
Axis Bank Limited₹29.05 Cr
State Bank of India₹28.16 Cr
Others₹0.16 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
10 Nov 2017100135454Others₹15.92 LakhSatisfied
30 May 201510578750Axis Bank Limited₹5 CrSatisfied
30 Mar 201510566335Axis Bank Limited₹24.05 CrSatisfied
28 Dec 201010269253State Bank of India₹9.93 CrSatisfied
28 Dec 201010269363State Bank of India₹9.93 CrSatisfied

To see the full charge records of Citizen Industries Private Limited, buy the company report.

Total charge records: 7 View all charges

Deals & funding

Citizen Industries Private Limited has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹36.99 Cr; the latest was in February 2021.

Total deals
6
Secondary share transfers
4
Funding round
1
Acquisition
1
Disclosed funding
₹36.99 Cr

Deals on record (5 of 6)

WhenDealAmountParties
Feb 2021Funding round₹36.99 CrInvestors: Daikin Airconditioning India Private Limited
Feb 2021Secondary share transferUndisclosedBuyer: Daikin Airconditioning India Private Limited , Daikin Airconditioning India Private Limited & Lingaraj Pattnaik, Daikin Airconditioning India Private Limited & Sanjay Goyal
Seller: 4 individuals
Dec 2020Acquisition₹125 CrBuyer: Daikin Airconditioning India Private Limited
Seller: Citizen Industries Private Limited
Sep 2017Secondary share transferUndisclosedBuyer: 2 individuals
Seller: 2 individuals
Nov 2016Secondary share transferUndisclosedBuyer: 2 individuals
Seller: an individual

To see the full deal history of Citizen Industries Private Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

Citizen Industries Private Limited has 9 MSME Form 1 returns on record between 2019 and 2022, listing 1,644 overdue payments to 164 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 164)

SupplierAmount dueDue sinceReported on
Aaf India Private Limited
Shree Trading Co
an individual supplier
an individual supplier
Vibrosolve India Private Limited

To see the full MSME payment records of Citizen Industries Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

GST

Citizen Industries has 4 GST registrations: 3 active and 1 cancelled or inactive.

Total GSTINs
4
Active
3
Cancelled / inactive
1
GSTINStateStatusRegistered on
24AAACC7814P1ZFGujaratActive01 Jul 2017
24AAACC7814P2ZEGujaratActive06 Mar 2025
29AAACC7814P2Z4KarnatakaActive01 Jul 2017

To see the full GST registrations and return filing status of Citizen Industries Private Limited, buy the company report.

Recent activity

Citizen Industries Private Limited has 13 board changes on record since 2016: 3 appointments and 10 cessations. The latest: Toshiharu Tsurumaru ceased to be Director on 19 Apr 2024.

AGM
Citizen Industries Private Limited last Annual general meeting of members was held on 24 Sep 2025 as per latest MCA records.
Charges
A charge registered on 30 May 2015 via Charge ID 10578750 with Axis Bank Limited was fully satisfied on 29 Apr 2025.
Charges
A charge registered on 30 Mar 2015 via Charge ID 10566335 with Axis Bank Limited was fully satisfied on 29 Apr 2025.
Filing
Citizen Industries Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Toshiharu Tsurumaru ceased to be Director.
Appointed
Kapil Bhatia was appointed as Managing Director.
Ceased
Kapil Bhatia ceased to be Additional Director.
Ceased
Kamalesh Rasiklal Mehta ceased to be Managing Director.
Ceased
Kuldeepak Virmani ceased to be Director.
Ceased
Prafulbhai Kantilal Patel ceased to be Whole-Time Director.
Ceased
Kanwal Jeet Jawa ceased to be Director.
Ceased
Ashokbhai Pranlal Patel ceased to be Director.

20 earlier events are in the company report.

Frequently asked questions

Citizen Industries is an active private limited company based in Ahmedabad, Gujarat, India. The company works in industrial compressors and pneumatic systems, within the machinery and equipment industry. It was incorporated on 07 August 1995 (31+ years old) and is registered under CIN U29190GJ1995PTC027009.

Citizen Industries has 3 current directors:

The latest financial statements of Citizen Industries on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 24 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Citizen Industries is 24AAACC7814P1ZF, registered in Gujarat. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 24AAACC7814P2ZE (Gujarat), 29AAACC7814P2Z4 (Karnataka).

The CIN (Corporate Identification Number) of Citizen Industries is U29190GJ1995PTC027009. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Citizen Industries has 16 court cases on record: 16 filed by the company. 4 are pending.

Citizen Industries was incorporated on 07 August 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Citizen Industries has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹36.99 Cr; the latest was in February 2021.

The peers of Citizen Industries by revenue are KRN Heat Exchanger and Refrigeration Limited, Climaveneta Climate Technologies Private Limited, Kruger Ventilation Industries (India) Private Limited, Kirloskar Chillers Private Limited, L&T Howden Private Limited and 2 more, all in the Machinery and Equipment industry (Compressors), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).

Toshiharu Tsurumaru ceased to be Director on 19 Apr 2024. Kapil Bhatia was appointed as Managing Director on 21 Dec 2023. Kapil Bhatia ceased to be Additional Director on 21 Dec 2023. Citizen Industries has 13 board changes on record in total.

Yes, Citizen Industries is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-01-0012439).

Citizen Industries has 9 MSME Form 1 returns on record between 2019 and 2022, listing 1,644 overdue payments to 164 micro and small suppliers. The latest return was filed on 30 Dec 2022.