MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-26-0008991
Denso Thermal Systems Pune Private Limited - automotive in Pune, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹22.49 Cr
▼ 20% YoY
Net loss · FY 2025
₹1.19 Cr
Net margin -5.3%
EBITDA · FY 2025
-₹60.2 Lakh
EBITDA margin -2.7%
Authorised capital
₹24.7 Cr
Registered with MCA
Paid-up capital
₹24.7 Cr
Issued & subscribed
Company age
28 yrs
Est. 1998
Employees · EPFO
28
Provident fund records
Directors on board
4
As per MCA filings
About Denso Thermal Systems Pune Private Limited
Data last updated:
Denso Thermal Systems Pune Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of Denso Thermal Systems S.P.A.. It operates in the auto parts and components segment of the automotive sector. It was incorporated on 28 August 1998 and has been in existence for over 28 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U29192PN1998PTC137017. Its GSTIN is 27AABCM1128M1ZH (Maharashtra). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹24.7 Cr and a paid-up capital of ₹24.7 Cr. It was formerly known as Magneti Marelli Thermal (I) Pvt Ltd and Denso Faridabad Private Limited. It is led by directors including Kapil Makru (Whole-Time Director) and Massimo Musiari.
Its last annual general meeting (AGM) was held on 22 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Gat No. 1228/2 Village Sanaswadi Taluka Shirur District Pune, Maharashtra, India – 412208.
As per the financials filed for FY 2025, the company reported a revenue of ₹22.49 Cr, a decline of 20% compared to the previous year. For the same year it recorded a net loss of ₹1.19 Cr (net margin -5.3%) and EBITDA of -₹60.2 Lakh (EBITDA margin -2.7%). Revenue has declined at a compounded annual rate (CAGR) of 11% over three years and 12% over five years.
The company has about 28 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: DENSO. Court records list 19 cases involving the company, including 10 filed by the company and 9 filed against it; 9 cases are pending.
Denso Thermal Systems Pune Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-26-0008991). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website denso.com.
Company details
CIN U29192PN1998PTC137017
Registration Number 137017
Incorporation Date 28 August 1998
ROC Pune
Listing Status Unlisted
Company Status Active
Date of Last AGM 22 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Denso Thermal Systems S.P.A.
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-26-0008991
Name history
Denso Thermal Systems Pune has undergone 2 name changes throughout its history. The company was previously known as Magneti Marelli Thermal (I) Pvt Ltd, and Denso Faridabad Private Limited. The current legal name is Denso Thermal Systems Pune Private Limited.
| Company Name | Status |
|---|---|
| Denso Thermal Systems Pune Private Limited | Current |
| Magneti Marelli Thermal (I) Pvt Ltd | Previous |
| Denso Faridabad Private Limited | Previous |
CIN history
Denso Thermal Systems Pune has one previous CIN (Corporate Identification Number): U29192DL1998PTC095811. The current CIN is U29192PN1998PTC137017, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U29192PN1998PTC137017 | Current |
| U29192DL1998PTC095811 | Previous |
Recognitions & Rankings of Denso Thermal Systems Pune
Contact details
Denso Thermal Systems Pune Private Limited's registered office is in Pune, Maharashtra. Its website is denso.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressGat No. 1228/2 Village Sanaswadi Taluka Shirur District Pune, Maharashtra, India – 412208
- IndustryAutomotive, Auto Parts & Components
To see the full contact details of Denso Thermal Systems Pune Private Limited, buy the company report.
Comprehensive company report
Denso Thermal Systems Pune 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
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Business activity
The main business activity of Denso Thermal Systems Pune is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Denso Thermal Systems Pune Private Limited, buy the company report.
Financials of Denso Thermal Systems Pune Private Limited
FY 2025 filings availableDenso Thermal Systems Pune Private Limited reported revenue of ₹22.49 Cr (down 20% YoY) for FY 2025.
Revenue · FY 2025
₹22.49 Cr ▼ 20%
Net loss · FY 2025
₹1.19 Cr margin -5.3%
EBITDA · FY 2025
-₹60.2 Lakh margin -2.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 20%
3 years · compounded
▼ 11%
5 years · compounded
▼ 12%
EBITDA CAGR growth
1 year
▼ 154%
3 years · compounded
▼ 29%
5 years · compounded
▼ 17%
Revenue has declined at a compounded annual rate (CAGR) of 12% over five years, including a 20% fall in the latest year. EBITDA fell 154% 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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| Total Expenses | |||||
| EBITDA | -₹60.2 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹1.19 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
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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 | -2.7% | ||||
| Net Profit Margin | -5.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
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| Net Profit Growth | |||||
To see the full financial statements and ratios of Denso Thermal Systems Pune Private Limited, buy the company report.
Board of directors of Denso Thermal Systems Pune Private Limited
Denso Thermal Systems Pune has 4 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Massimo Musiari | Director | 28 Mar 2023 | 3 Years 7 Months | Current |
| Kapil Makru | Whole-Time Director | 30 May 2016 | 10 Years 5 Months | Current |
| Giuseppe Zippo | Director | 26 Mar 2025 | 1 Years 7 Months | Current |
| Roberto Cavallo | Director | 15 Sep 2025 | 1 Years 1 Months | Current |
Auditor
Denso Thermal Systems Pune Private Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2023 | 117366W/W-100018 |
Shareholding
The shareholding of Denso Thermal Systems Pune 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 category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Denso Thermal Systems Pune Private Limited, buy the company report.
Legal cases
Denso Thermal Systems Pune Private Limited has 19 court cases on record: 10 filed by Denso Thermal Systems Pune, 9 filed against it. 9 cases are pending and 10 are disposed.
Total cases
19
Filed by the company
10
Filed against the company
9
Pending
9
Disposed
10
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 17 | 8 | 9 |
| High courts | 2 | 1 | 0 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Reference IDA) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Reference IDA) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Reference IDA) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Reference IDA) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Reference IDA) | Filed against the company by an individual | Pending |
To see the full case history of Denso Thermal Systems Pune 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.
MSME payment delays
Denso Thermal Systems Pune Private Limited has 10 MSME Form 1 returns on record between 2018 and 2024, listing 253 overdue payments to 6 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 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Sebros Industries Private Limited | |||
| an individual supplier | |||
| Trend Technologies India Pune Private Limited | |||
| Indica Industries Private Limited | |||
| Trimoorty Foamtech Limited |
To see the full MSME payment records of Denso Thermal Systems Pune Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Denso Thermal Systems Pune Private Limited has a workforce of 28 employees on its EPFO records as of Apr 10, 2024, across 1 active EPFO establishment.
Employee count
28
Active EPFO establishments
1
Employee growth
-22.22%
GST
Denso Thermal Systems Pune has 3 GST registrations: 1 active and 2 cancelled or inactive.
Total GSTINs
3
Active
1
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCM1128M1ZH | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Denso Thermal Systems Pune Private Limited, buy the company report.
Recent activity
Denso Thermal Systems Pune Private Limited has 16 board changes on record since 2013: 4 appointments and 12 cessations. The latest: Giuseppe Zippo ceased to be Additional Director on 21 Sep 2025.
AGM
Denso Thermal Systems Pune Private Limited last Annual general meeting of members was held on 22 Sep 2025 as per latest MCA records.
Ceased
Giuseppe Zippo ceased to be Additional Director.
Ceased
Roberto Cavallo ceased to be Additional Director.
Appointed
Roberto Cavallo was appointed as Director.
Filing
Denso Thermal Systems Pune Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Pune.
Appointed
Giuseppe Zippo was appointed as Director.
Ceased
Massimo Musiari ceased to be Additional Director.
Appointed
Massimo Musiari was appointed as Director.
Ceased
Giorgio Gallia ceased to be Additional Director.
Ceased
Leonardo Coppo ceased to be Additional Director.
Ceased
Marco Di Rao Marotta ceased to be Additional Director.
Ceased
Kapil Makru ceased to be Whole-Time Director.
7 earlier events are in the company report.
News
Frequently asked questions
Denso Thermal Systems Pune is an active private limited company based in Pune, Maharashtra, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 28 August 1998 (28+ years old) and is registered under CIN U29192PN1998PTC137017.
Denso Thermal Systems Pune has 4 current directors:
- Kapil Makru - Whole-Time Director
- Massimo Musiari - Director
- Giuseppe Zippo - Director
- Roberto Cavallo - Director
The latest financial statements of Denso Thermal Systems Pune on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 22 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Denso Thermal Systems Pune is 27AABCM1128M1ZH, registered in Maharashtra. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Denso Thermal Systems Pune is U29192PN1998PTC137017. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Denso Thermal Systems Pune has 19 court cases on record: 10 filed by the company and 9 filed against it. 9 are pending. Most are in the district courts.
Denso Thermal Systems Pune was incorporated on 28 August 1998, making it 28+ years old. It is registered with the Registrar of Companies, Pune.
Giuseppe Zippo ceased to be Additional Director on 21 Sep 2025. Roberto Cavallo ceased to be Additional Director on 21 Sep 2025. Roberto Cavallo was appointed as Director on 15 Sep 2025. Denso Thermal Systems Pune has 16 board changes on record in total.
Yes, Denso Thermal Systems Pune is registered as a small enterprise under Udyam registration (number: UDYAM-MH-26-0008991).
Denso Thermal Systems Pune has 10 MSME Form 1 returns on record between 2018 and 2024, listing 253 overdue payments to 6 micro and small suppliers. The latest return was filed on 21 Oct 2023.
Denso Thermal Systems Pune can be reached through the website denso.com. Its registered office is in Pune, Maharashtra, India.
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