About Cliantha Research Limited
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Cliantha Research Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the pharma contract r and d segment of the pharmaceuticals sector. It was incorporated on 30 August 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U73100GJ2004PLC044669. Its GSTIN is 24AACCB4535A1ZD (Gujarat). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹10.5 Cr and a paid-up capital of ₹3.78 Cr. It was formerly known as Ba Research India Limited. It is led by directors including Naveen Sharma (Whole-Time Director) and Manubhai Khodidas Patel.
Its last annual general meeting (AGM) was held on 30 June 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Cliantha Corporate Tp 86 Fp 28/1 Off S.P. Ring Road Sarkhej – Ahmedabad, Gujarat, India – 382210.
As per the financials filed for FY 2026, the company reported a revenue of ₹781.63 Cr, a growth of 24% compared to the previous year. For the same year it recorded a net profit of ₹133.79 Cr (net margin 17.1%) and EBITDA of ₹206.15 Cr (EBITDA margin 26.4%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 18% over five years.
The company has about 1,239 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Karmic Lifesciences and Cliantha. As per MCA filings, the company has open charges of ₹125 Cr and satisfied charges of ₹9.25 Cr on record. Court records list 14 cases involving the company, including 4 filed by the company and 10 filed against it; 3 cases are pending. The company has 12 deals on record (11 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2022. Its 4 peer companies in the Pharma industry (Contract Research), with the same principal business activity (scientific research and development) are compared by revenue, 3 larger and 1 smaller; the largest is Lambda Therapeutic Research Limited with revenue of ₹831.25 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 cliantha.com.
Company details
Contact details
Cliantha Research Limited's registered office is in Ahmedabad, Gujarat. Its website is cliantha.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressCliantha Corporate Tp 86 Fp 28/1 Off S.P. Ring Road Sarkhej – Ahmedabad, Gujarat, India – 382210
- IndustryPharma, Pharma Contract R&D
To see the full contact details of Cliantha Research 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
Cliantha Research operates two associated brands: Karmic Lifesciences and Cliantha. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| CRO offering clinical management services | karmiclifesciences.com | |
| Diversified clinical research services are offered globally. | cliantha.com |
Business activity
The main business activity of Cliantha Research is professional, scientific and technical. In detail, this covers scientific research and development.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M5 | Scientific research and development |
To see the full business activity and turnover split of Cliantha Research Limited, buy the company report.
Financials of Cliantha Research Limited
FY 2025 filings availableCliantha Research Limited reported revenue of ₹781.63 Cr (up 24% YoY) for FY 2026.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 18% over five years, including 24% growth in the latest year. EBITDA rose 53% 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 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
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| EBITDA | ₹206.15 Cr | ||||
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| Net Profit (PAT) | ₹133.79 Cr | ||||
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Financial Ratios
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
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| EBITDA Margin | 26.4% | ||||
| Net Profit Margin | 17.1% | ||||
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To see the full financial statements and ratios of Cliantha Research Limited, buy the company report.
Board of directors of Cliantha Research Limited
Cliantha Research has 6 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mukesh Mangalbhai Patel | Additional Director | 08 Aug 2025 | 1 Years 2 Months | Current |
| Manubhai Khodidas Patel | Director | 31 Mar 2017 | 9 Years 6 Months | Current |
| Naveen Sharma | Whole-Time Director | 10 Nov 2025 | 0 Years 11 Months | Current |
| Yogendra Kumar Gupta | Director | 05 Sep 2024 | 2 Years 1 Months | Current |
| Nilima Arun Kshirsagar | Director | 05 Sep 2024 | 2 Years 1 Months | Current |
| Rajiv Vikrambhai Kamani | Director | 05 Sep 2024 | 2 Years 1 Months | Current |
Peer comparison
Cliantha Research Limited is compared with the 4 companies closest to it by revenue in the Pharma industry (Contract Research), with the same principal business activity (scientific research and development), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Lambda Therapeutic Research Limited | ₹831.25 Cr (FY 2025) | 18.0% | Ahmedabad, Gujarat, India | |||
| Icon Clinical Research India Private Limited | ₹816.1 Cr (FY 2025) | 28.0% | Chennai, Tamil Nadu, India | |||
| Cliantha Research Limitedthis company | ₹781.63 Cr (FY 2026) | ₹133.79 Cr | 17.1% | 24.0% | 1,239 | Ahmedabad, Gujarat, India |
| Aurigene Pharmaceutical Services Limited | ₹644.99 Cr (FY 2025) | 44.0% | Bangalore, Karnataka, India | |||
| Zoetis Pharmaceutical Research Private Limited | ₹595.44 Cr (FY 2025) | 28.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Cliantha Research Limited, buy the company report.
Auditor
Cliantha Research Limited is audited by Talati and Talati LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Talati and Talati LLP | FY 2023 | 110758W/W100377 |
Shareholding
The shareholding of Cliantha Research 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 category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
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| Others |
To see the full shareholding pattern of Cliantha Research Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Aug 2018 | 100197821 | Standard Chartered Bank | ₹55 Cr | Open | |
| 17 Oct 2017 | 100131426 | The Hongkong and Shanghai Banking Corporation Limited | ₹70 Cr | Open | |
| 22 Jul 2020 | 100357867 | The Hongkong and Shanghai Banking Corporation Limited | ₹4.25 Cr | Satisfied | |
| 29 May 2006 | 10007828 | Icici Bank Limited | ₹5 Cr | Satisfied |
To see the full charge records of Cliantha Research Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Cliantha Research Limited has 12 deals on record (11 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2022.
Deals on record (5 of 12)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2022 | Secondary share transfer | Undisclosed | Seller: Cliantha Trust, Prateeti Care Trust |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: Prateeti Care Trust Seller: an individual |
| May 2013 | Secondary share transfer | Undisclosed | Seller: Cliantha Trust |
| Jun 2010 | Secondary share transfer | Undisclosed | Seller: Cliantha Trust |
| Mar 2010 | Secondary share transfer | Undisclosed | Seller: Zydus Family Trust |
To see the full deal history of Cliantha Research 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
Cliantha Research Limited has 14 court cases on record: 4 filed by Cliantha Research, 10 filed against it. 3 cases are pending and 11 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 11 | 7 | 3 |
| District courts | 2 | 2 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 14)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Court case (IAAP) | Filed by the company against Aurex Laboratories Private Limited | Disposed |
| High Court, GUJARAT | Court case (TAXAP) | Filed against the company by Principal Commissioner of Income Tax - 1 | Pending |
| High Court of Gujarat | Court case (TAXAP) | Filed against the company by Principal Commissioner of Income Tax-1, | Pending |
| High Court of Gujarat | Court case (TAXAP) | Filed against the company by Commissioner | Pending |
| District court, Ahmedabad, Gujarat | Motor accident claim | Filed against the company by an individual | Disposed |
To see the full case history of Cliantha Research 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
No delayed payments to MSME suppliers are on our record for Cliantha Research Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Cliantha Research Limited has a workforce of 1,239 employees on its EPFO records as of Nov 04, 2024, across 1 active EPFO establishment.
GST
Cliantha Research has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCB4535A1ZD | Gujarat | Active | 01 Jul 2017 |
| 09AACCB4535A1Z5 | Uttar Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Cliantha Research Limited, buy the company report.
Recent activity
Cliantha Research Limited has 20 board changes on record since 2004: 13 appointments and 7 cessations. The latest: Naveen Sharma was appointed as Whole-Time Director on 10 Nov 2025.
18 earlier events are in the company report.
Frequently asked questions
Cliantha Research is an active public limited company based in Ahmedabad, Gujarat, India. The company works in pharma contract r and d, within the pharma industry. It was incorporated on 30 August 2004 (22+ years old) and is registered under CIN U73100GJ2004PLC044669.
Cliantha Research has 6 current directors:
- Naveen Sharma - Whole-Time Director
- Mukesh Mangalbhai Patel - Additional Director
- Manubhai Khodidas Patel - Director
- Yogendra Kumar Gupta - Director
- Nilima Arun Kshirsagar - Director
- Rajiv Vikrambhai Kamani - Director
The latest financial statements of Cliantha Research on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 June 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Cliantha Research is 24AACCB4535A1ZD, registered in Gujarat. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 09AACCB4535A1Z5 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Cliantha Research is U73100GJ2004PLC044669. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Cliantha Research has 14 court cases on record: 4 filed by the company and 10 filed against it. 3 are pending. Most are in the high courts.
Cliantha Research was incorporated on 30 August 2004, making it 22+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Cliantha Research has 12 deals on record (11 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2022.
The peers of Cliantha Research by revenue are Lambda Therapeutic Research Limited, Icon Clinical Research India Private Limited, Aurigene Pharmaceutical Services Limited, Zoetis Pharmaceutical Research Private Limited, all in the Pharma industry (Contract Research), with the same principal business activity (scientific research and development).
Naveen Sharma was appointed as Whole-Time Director on 10 Nov 2025. Mukesh Mangalbhai Patel was appointed as Additional Director on 08 Aug 2025. Mukesh Raojibhai Patel ceased to be Director on 05 Sep 2024. Cliantha Research has 20 board changes on record in total.
Cliantha Research can be reached through the website cliantha.com. Its registered office is in Ahmedabad, Gujarat, India.