Dhariwal Industries Private Limited

Dhariwal Industries Private Limited - environment in Pune, Maharashtra, India. FY 2026 financials & compliance.
CIN U28999PN1988PTC049549 Incorporated 07 November 1988 ROC Pune HQ Pune, Maharashtra, India
Active Private Limited Company environment
Data last updated
Revenue · FY 2025
₹852.39 Cr
▼ 5% YoY
Net profit · FY 2025
₹150.26 Cr
Net margin 17.6%
EBITDA · FY 2025
₹203.44 Cr
EBITDA margin 23.9%
Authorised capital
₹25 Cr
Registered with MCA
Paid-up capital
₹7.63 Cr
Issued & subscribed
Satisfied charges
₹273.2 Cr
No open charges
Company age
38 yrs
Est. 1988
Employees · EPFO
317
Provident fund records

About Dhariwal Industries Private Limited

Data last updated:

Dhariwal Industries Private Limited is a private limited company based in Pune, Maharashtra, India. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 07 November 1988 and has been in existence for over 38 years.

Its director Prakash Rasiklal Dhariwal and family are #1,320 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Pune, under CIN U28999PN1988PTC049549. Its GSTIN is 08AAACD5896L1Z2 (Rajasthan). The company holds 11 GST registrations, of which 6 are active.

The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹7.63 Cr. It was formerly known as Dharwal Tobacco Products Limited and Dhariwal Industries Limited. It is led by directors including Prakash Rasiklal Dhariwal (Managing Director) and Satish Motilal Chopda.

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 Plot 100/100 D. Kenne Dy. Rd., Pune, Maharashtra, India – 411001.

As per the financials filed for FY 2025, the company reported a revenue of ₹852.39 Cr, a decline of 5% compared to the previous year. For the same year it recorded a net profit of ₹150.26 Cr (net margin 17.6%) and EBITDA of ₹203.44 Cr (EBITDA margin 23.9%). Revenue has grown at a compounded annual rate (CAGR) of 5% over three years and 6% over five years.

The company has about 317 employees on its provident fund (EPFO) records.

As per MCA filings, the company has satisfied charges of ₹273.2 Cr on record. Court records list 270 cases involving the company, including 129 filed by the company and 141 filed against it; 73 cases are pending. The company has 2 deals on record (2 secondary share transfers); the latest was in November 2021. The company has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 8 overdue payments to 6 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website manikchandgroup.com.

Company details

CIN U28999PN1988PTC049549
Registration Number 049549
Incorporation Date 07 November 1988
ROC Pune
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant

Name history

Dhariwal Industries has undergone 4 name changes throughout its history. The current legal name is Dhariwal Industries Private Limited.

Company NameStatus
Dhariwal Industries Private LimitedCurrent
Dharwal Tobacco Products LimitedPrevious
Dhariwal Industries LimitedPrevious
Dhariwal Tobacco Products Private LimitedPrevious
Dharwal Tobacco Products Private LimitedPrevious

CIN history

Dhariwal Industries has one previous CIN (Corporate Identification Number): U28999MH1988PTC049549. The current CIN is U28999PN1988PTC049549, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U28999PN1988PTC049549Current
U28999MH1988PTC049549Previous
Key People
Prakash Rasiklal Dhariwal Managing Director Satish Motilal Chopda Director Aditya Prakash Dhariwal Director

Recognitions & Rankings of Dhariwal Industries

Contact details

Dhariwal Industries Private Limited's registered office is in Pune, Maharashtra. Its website is manikchandgroup.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    manikchandgroup.com
  • Registered Address
    Plot 100/100 D. Kenne Dy. Rd., Pune, Maharashtra, India – 411001
  • Industry
    Environment, Wind Energy Solutions

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

Comprehensive company report
Dhariwal 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
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Business activity

The main business activities of Dhariwal Industries are trade and electricity, gas, steam and air condition supply. In detail, this covers wholesale trading and electric power generation, transmission and distribution. 2 activity segments are registered with the MCA.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
GTradeG1Wholesale Trading
DElectricity, gas, steam and air condition supplyD1Electric power generation, transmission and distribution

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

Financials of Dhariwal Industries Private Limited

FY 2025 filings available

Dhariwal Industries Private Limited reported revenue of ₹852.39 Cr (down 5% YoY) for FY 2025.

Revenue · FY 2025
₹852.39 Cr ▼ 5%
Net profit · FY 2025
₹150.26 Cr margin 17.6%
EBITDA · FY 2025
₹203.44 Cr margin 23.9%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▼ 5%
3 years · compounded
▲ 5%
5 years · compounded
▲ 6%
EBITDA CAGR growth
1 year
▼ 32%
3 years · compounded
▲ 16%
5 years · compounded
▲ 11%

Revenue fell 5% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 6%. EBITDA fell 32% 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₹203.44 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹150.26 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 Margin23.9%
Net Profit Margin17.6%
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 Dhariwal Industries Private Limited, buy the company report.

Board of directors of Dhariwal Industries Private Limited

Dhariwal Industries has 4 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Satish Motilal ChopdaDirector16 Jul 20188 Years 3 MonthsCurrent
Aditya Prakash Dhariwal
Also directs: Evercrest Industries LLP, PRD Food Products LLP, Hridaan Ventures LLP and 5 more
Director11 Sep 20233 Years 1 MonthsCurrent
Hiralal Hanumanbagus MaluDirector11 Feb 199432 Years 8 MonthsCurrent
Prakash Rasiklal Dhariwal
Also directs: PZ Developers LLP, Shivpriya Realtors LLP, Evercrest Industries LLP and 5 more
Managing Director07 Nov 198837 Years 11 MonthsCurrent
View all directors

Auditor

Dhariwal Industries Private Limited is audited by SNK & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
SNK & Co.FY 2023109176W

Shareholding

The shareholding of Dhariwal 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 Dhariwal Industries Private Limited, buy the company report.

Charges & borrowings

Open charges
None
Satisfied charges
₹273.2 Cr
Breakdown by lending institutions
Corporation Bank₹116.76 Cr
Indian Renewable Energy Development Agency Limited₹64.88 Cr
The Saraswat Cooperative Bank Ltd₹24.50 Cr
Uti Bank Limited₹22.50 Cr
Others₹21.00 Cr
Others₹23.56 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
03 Oct 201510598547Others₹21 CrSatisfied
21 Dec 201310508891Union Bank of India₹6.8 CrSatisfied
03 Oct 201310461482Hdfc Bank Limited₹2.25 CrSatisfied
11 Feb 201110269871Mahesh Sahakari Bank Limited₹6 CrSatisfied
09 Aug 201010237385Hdfc Bank Limited₹78.75 LakhSatisfied

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

Total charge records: 20 View all charges

Deals & funding

Dhariwal Industries Private Limited has 2 deals on record (2 secondary share transfers); the latest was in November 2021.

Total deals
2
Secondary share transfers
2

Deals on record (2 of 2)

WhenDealAmountParties
Nov 2021Secondary share transferUndisclosedBuyer: 3 individuals
Seller: an individual
Sep 2006Secondary share transferUndisclosedBuyer: an individual
Seller: an individual

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

Credit ratings & regulatory alerts

Dhariwal Industries Private Limited was last rated by Crisil on 21 Dec 2020.

Rating agencyRated onRating
Crisil21 Dec 2020

To see the full credit ratings and regulatory alerts of Dhariwal Industries Private Limited, buy the company report.

MSME payment delays

Dhariwal Industries Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 8 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)

SupplierAmount dueDue sinceReported on
Daetwyler Graphics India Private Limited
an individual supplier
Sansui Sales & Services
Numex Blocks (India) Private Limited
Benzer Multitech India Private Limited

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

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Dhariwal Industries Private Limited has a workforce of 317 employees on its EPFO records as of Mar 31, 2024, across 3 active EPFO establishments.

Employee count
317
Active EPFO establishments
3
Employee growth
-3.94%

GST

Dhariwal Industries has 11 GST registrations: 6 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
11
Active
6
Cancelled / inactive
5
GSTINStateStatusRegistered on
08AAACD5896L1Z2RajasthanActive01 Jul 2017
24AAACD5896L1Z8GujaratActive01 Jul 2017
27AAACD5896L1Z2MaharashtraActive01 Jul 2017
27AAACD5896L2Z1MaharashtraActive01 Jul 2017

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

Recent activity

Dhariwal Industries Private Limited has 11 board changes on record since 1988: 4 appointments and 7 cessations. The latest: Hiralal Hanumanbagus Malu ceased to be Director on 21 May 2025.

AGM
Dhariwal Industries Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Hiralal Hanumanbagus Malu ceased to be Director.
Filing
Dhariwal Industries Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Pune.
Ceased
Aditya Prakash Dhariwal ceased to be Additional Director.
Appointed
Aditya Prakash Dhariwal was appointed as Director.
Charges
A charge registered on 03 Oct 2015 via Charge ID 10598547 with Others was fully satisfied on 25 Jan 2022.
Charges
A charge registered on 11 Feb 2011 via Charge ID 10269871 with Mahesh Sahakari Bank Limited was fully satisfied on 24 May 2021.
Charges
A charge with Others of Rs. 21.00 Cr registered on 03 Oct 2015 with Charge ID 10598547 was modified on 03 Mar 2020.
Charges
A charge registered on 31 Mar 2010 via Charge ID 10212442 with Corporation Bank was fully satisfied on 31 Dec 2018.
Charges
A charge registered on 21 Dec 2013 via Charge ID 10508891 with Union Bank Of India was fully satisfied on 04 Dec 2018.
Ceased
Satish Motilal Chopda ceased to be Additional Director.
Appointed
Satish Motilal Chopda was appointed as Director.

56 earlier events are in the company report.

News

Frequently asked questions

Dhariwal Industries is an active private limited company based in Pune, Maharashtra, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 07 November 1988 (38+ years old) and is registered under CIN U28999PN1988PTC049549.

Dhariwal Industries has 4 current directors:

The latest financial statements of Dhariwal Industries 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 Dhariwal Industries is 08AAACD5896L1Z2, registered in Rajasthan. The company has 11 GST registrations in all, of which 6 are active and 5 are cancelled or inactive. Other active GSTINs include 24AAACD5896L1Z8 (Gujarat), 27AAACD5896L1Z2 (Maharashtra), 27AAACD5896L2Z1 (Maharashtra).

The CIN (Corporate Identification Number) of Dhariwal Industries is U28999PN1988PTC049549. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Dhariwal Industries has 270 court cases on record: 129 filed by the company and 141 filed against it. 73 are pending. Most are in the high courts.

Dhariwal Industries was incorporated on 07 November 1988, making it 38+ years old. It is registered with the Registrar of Companies, Pune.

Dhariwal Industries has 2 deals on record (2 secondary share transfers); the latest was in November 2021.

Hiralal Hanumanbagus Malu ceased to be Director on 21 May 2025. Aditya Prakash Dhariwal ceased to be Additional Director on 29 Sep 2023. Aditya Prakash Dhariwal was appointed as Director on 11 Sep 2023. Dhariwal Industries has 11 board changes on record in total.

Dhariwal Industries has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 8 overdue payments to 6 micro and small suppliers. The latest return was filed on 19 Jun 2020.

Dhariwal Industries can be reached through the website manikchandgroup.com. Its registered office is in Pune, Maharashtra, India.