MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-GJ-01-0008742
Market Cap
₹154 Cr
DHAVAL · BSE
Share Price
₹109.10
-2.59% today
Revenue
₹65.03 Cr
FY 2025-26 · +24.4% YoY
EBITDA
₹14.10 Cr
Margin 21.7%
Net Profit
₹8.04 Cr
FY 2025-26 · +34.2% YoY
P/E (TTM)
19.1x
P/B 2.3x
ROE
31.6%
ROCE 27.6%
Debt / Equity
0.80
Interest cover 16.1x
About Dhaval Packaging Limited
Data last updated:
Dhaval Packaging Limited is a public limited company based in Sanand, Gujarat, India. It operates in the industrial packaging solutions segment of the packaging sector. It was incorporated on 02 November 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U22203GJ2015PLC084963. Its GSTIN is 24AAFCD5021Q1ZK (Gujarat). It is a listed company as per MCA records. Its shares are listed on BSE: 544854.
The company has an authorised share capital of ₹14 Cr and a paid-up capital of ₹13.74 Cr. It was formerly known as Dhaval Packaging Private Limited. It is led by directors including Manishbhai Nanalal Dagla (Managing Director) and Dhaval Nanalal Dagla.
Its last annual general meeting (AGM) was held on 08 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Sanand, Gujarat.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹65.03 Cr, a growth of 24.4% compared to the previous year. For the same year it recorded a net profit of ₹8.04 Cr (net margin 12.4%) and EBITDA of ₹14.1 Cr (EBITDA margin 21.7%). The net worth stands at ₹30.75 Cr (up 52.5% YoY). Total assets are valued at ₹55.17 Cr (up 47.9% YoY).
The company has about 25 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹29.49 Cr and satisfied charges of ₹13.45 Cr on record. Court records list 2 cases involving the company, including 2 filed by the company. The company has 4 deals on record (3 market trades, 1 ipo); the latest was in September 2026. Its 5 peer companies in the Packaging industry (Industrial Packaging), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 4 larger and 1 smaller; the largest is Active Printpack Private Limited with revenue of ₹49.4 Cr.
Dhaval Packaging Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0008742). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website dhavalpackaging.com.
Company details
CIN U22203GJ2015PLC084963
Registration Number 084963
Incorporation Date 02 November 2015
ROC Ahmedabad
Listing Status Listed - Listed on BSE (544854)
Company Status Active
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-GJ-01-0008742
CIN history
Dhaval Packaging has one previous CIN (Corporate Identification Number): U25202GJ2015PTC084963. The current CIN is U22203GJ2015PLC084963, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U22203GJ2015PLC084963 | Current |
| U25202GJ2015PTC084963 | Previous |
Key People
Manishbhai Nanalal Dagla Managing Director Dhaval Nanalal Dagla Director Aalap Dipak Shah Director Recognitions & Rankings of Dhaval Packaging
Contact details
Dhaval Packaging Limited's registered office is in Sanand, Gujarat.
- Registered AddressPlot No. E, 411 GIDC, Sanand, Gujarat, India – 382110
- IndustryPackaging, Industrial Packaging Solutions
Comprehensive company report
Dhaval Packaging 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 Dhaval Packaging is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Dhaval Packaging Limited, buy the company report.
Financials of Dhaval Packaging Limited
FY 2025-26 filings availableDhaval Packaging Limited reported revenue of ₹65.03 Cr (up 24.4% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue
₹65.03 Cr
+24.4% YoY
EBITDA
₹14.10 Cr
+38.0% YoY
Profit After Tax
₹8.04 Cr
+34.2% YoY
Net Worth
₹30.75 Cr
+52.5% YoY
Total Assets
₹55.17 Cr
+47.9% YoY
Total Debt
₹24.13 Cr
+45.8% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 65.03 | 52.26 | 47.99 | 42.94 | 33.24 | 22.61 |
| Revenue growth | +24.4% | +8.9% | +11.8% | +29.2% | +47.0% | - |
| EBITDA | 14.10 | 10.22 | 4.99 | 2.60 | 1.68 | 1.74 |
| EBITDA margin | +21.7% | +19.6% | +10.4% | +6.1% | +5.1% | +7.7% |
| Profit before tax | 10.72 | 8.03 | 2.04 | 0.61 | 0.18 | 0.57 |
| Net profit | 8.04 | 5.99 | 1.57 | 0.52 | 0.15 | 0.43 |
| Net profit margin | +12.4% | +11.5% | +3.3% | +1.2% | +0.5% | +1.9% |
| EPS (₹) | 8.05 | 24.99 | 7.76 | 2.54 | 1.10 | 4.26 |
| Balance sheet | ||||||
| Total assets | 55.17 | 37.30 | 25.20 | 19.24 | 10.67 | 7.48 |
| Net worth | 30.75 | 20.17 | 4.10 | 2.55 | 1.67 | 1.01 |
| Total debt | 24.13 | 16.55 | 19.28 | 14.04 | 8.91 | 6.43 |
| Cash & bank | 3.01 | 1.93 | 1.99 | 1.07 | 1.11 | 0.70 |
| Net working capital | 16.05 | 11.32 | 9.07 | 5.00 | 2.03 | 1.19 |
| Cash flow | ||||||
| Cash from operations | 6.74 | 4.35 | 0.66 | 1.91 | 0.00 | 0.00 |
| Cash from investing | (14.05) | (10.28) | (4.02) | (6.94) | 0.00 | 0.00 |
| Cash from financing | 8.39 | 5.88 | 4.29 | 4.98 | 0.00 | 0.00 |
| Particulars | Mar 2026 | Jun 2025 |
|---|---|---|
| Revenue | 13.42 | 15.24 |
| Other income | 0.05 | 0.03 |
| Total expenses | 9.70 | 12.06 |
| EBITDA | 3.72 | 3.18 |
| EBITDA margin | +27.7% | +20.9% |
| Depreciation | 0.42 | 0.34 |
| Interest | 0.50 | 0.50 |
| Profit before tax | 2.85 | 2.37 |
| Tax | 0.67 | 0.59 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 12 Nov 2026
| Particulars | Mar 2026 | Jun 2025 |
|---|---|---|
| Revenue | 13.42 | 15.24 |
| Other income | 0.05 | 0.03 |
| Total expenses | 9.70 | 12.06 |
| EBITDA | 3.72 | 3.18 |
| EBITDA margin | +27.7% | +20.9% |
| Depreciation | 0.42 | 0.34 |
| Interest | 0.50 | 0.50 |
| Profit before tax | 2.85 | 2.37 |
| Tax | 0.67 | 0.59 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 65.03 | 52.26 | 47.99 | 42.94 | 33.24 | 22.61 |
| Revenue growth | +24.4% | +8.9% | +11.8% | +29.2% | +47.0% | - |
| Other income | 0.17 | 0.17 | 0.09 | 0.20 | 0.22 | 0.30 |
| Total expenses | 50.93 | 42.04 | 43.00 | 40.34 | 31.56 | 20.87 |
| Employee cost | 2.27 | 2.05 | 1.33 | 1.27 | 1.29 | 0.43 |
| EBITDA | 14.10 | 10.22 | 4.99 | 2.60 | 1.68 | 1.74 |
| EBITDA margin | +21.7% | +19.6% | +10.4% | +6.1% | +5.1% | +7.7% |
| Depreciation | 1.53 | 0.94 | 2.09 | 1.55 | 1.15 | 1.15 |
| Interest | 2.02 | 1.42 | 0.95 | 0.64 | 0.57 | 0.32 |
| Profit before tax | 10.72 | 8.03 | 2.04 | 0.61 | 0.18 | 0.57 |
| Tax | 2.68 | 1.98 | 0.47 | 0.09 | 0.03 | 0.14 |
| Net profit | 8.04 | 5.99 | 1.57 | 0.52 | 0.15 | 0.43 |
| Net profit margin | +12.4% | +11.5% | +3.3% | +1.2% | +0.5% | +1.9% |
| EPS (₹) | 8.05 | 24.99 | 7.76 | 2.54 | 1.10 | 4.26 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 9.99 | 2.42 | 2.00 | 2.00 | 1.50 | 1.00 |
| Reserves & surplus | 20.76 | 17.75 | 2.10 | 0.55 | 0.17 | 0.01 |
| Shareholders' funds (net worth) | 30.75 | 20.17 | 4.10 | 2.55 | 1.67 | 1.01 |
| Secured loans | 23.34 | 11.36 | 7.11 | 6.32 | 5.19 | 3.93 |
| Unsecured loans | 0.79 | 5.19 | 12.17 | 7.72 | 3.72 | 2.50 |
| Total debt | 24.13 | 16.55 | 19.28 | 14.04 | 8.91 | 6.43 |
| Total liabilities | 55.17 | 37.30 | 25.20 | 19.24 | 10.67 | 7.48 |
| Assets | ||||||
| Gross block | 39.43 | 31.50 | 23.15 | 20.26 | 12.94 | 9.07 |
| Net block | 28.52 | 22.13 | 14.67 | 13.87 | 8.37 | 5.64 |
| Capital work in progress | 9.47 | 3.24 | 1.21 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 14.21 | 12.13 | 8.18 | 6.62 | 4.16 | 2.20 |
| Sundry debtors | 8.03 | 5.41 | 6.24 | 6.02 | 2.97 | 3.46 |
| Cash & bank balances | 3.01 | 1.93 | 1.99 | 1.07 | 1.11 | 0.70 |
| Loans & advances | 1.09 | 1.92 | 0.92 | 1.15 | 1.38 | 0.01 |
| Total current assets | 26.34 | 21.39 | 17.33 | 14.86 | 9.62 | 6.37 |
| Total current liabilities | 10.29 | 10.07 | 8.26 | 9.86 | 7.59 | 5.18 |
| Net working capital | 16.05 | 11.32 | 9.07 | 5.00 | 2.03 | 1.19 |
| Total assets | 55.17 | 37.30 | 25.20 | 19.24 | 10.67 | 7.48 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 1.93 | 1.99 | 1.07 | 1.11 | 0.00 | 0.00 |
| Net cash from operating activities | 6.74 | 4.35 | 0.66 | 1.91 | 0.00 | 0.00 |
| Net cash from investing activities | (14.05) | (10.28) | (4.02) | (6.94) | 0.00 | 0.00 |
| Net cash from financing activities | 8.39 | 5.88 | 4.29 | 4.98 | 0.00 | 0.00 |
| Net change in cash | 1.08 | (0.05) | 0.92 | (0.04) | 0.00 | 0.00 |
| Closing cash | 3.01 | 1.93 | 1.99 | 1.07 | 1.11 | 0.70 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +24.4% | +8.9% | +11.8% | +29.2% | +47.0% | - |
| EBITDA growth | +38.0% | +104.8% | +91.9% | +54.8% | -3.5% | - |
| PBT growth | +33.5% | +293.6% | +234.4% | +238.9% | -68.4% | +9997.0% |
| Net income growth | +34.2% | +281.5% | +201.9% | +246.7% | -65.1% | - |
| Revenue CAGR (3Y) | +14.8% | +16.3% | +28.5% | - | - | - |
| EBITDA CAGR (3Y) | +75.7% | +82.6% | +42.1% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +12.4% | +11.6% | +3.3% | +1.2% | +0.5% | +1.9% |
| Return on capital employed | +27.6% | +30.2% | +13.4% | +8.4% | +8.5% | +11.8% |
| Return on net worth | +31.6% | +49.8% | +46.6% | +24.2% | +12.7% | +57.0% |
| Debt / equity | 0.80 | 1.48 | 5.01 | 5.44 | 5.73 | 12.41 |
| Long-term debt / equity | 0.34 | 0.84 | 3.59 | 4.13 | 4.81 | 10.67 |
| Interest cover | 16.07 | 15.30 | 32.76 | 60.95 | 107.55 | 54.24 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 1.83 | 1.91 | 2.21 | 2.59 | 3.02 | 2.61 |
| Inventory turnover | 4.94 | 5.15 | 6.49 | 7.97 | 10.45 | 14.13 |
| Debtors turnover | 9.68 | 8.97 | 7.83 | 9.55 | 10.34 | 8.44 |
| EPS (₹) | 8.05 | 24.99 | 7.76 | 2.54 | 1.10 | 4.26 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 30.78 | 83.41 | 20.51 | 12.76 | 11.15 | 10.09 |
To see the full year-wise statements and ratios of Dhaval Packaging Limited, buy the company report.
Board of directors of Dhaval Packaging Limited
Dhaval Packaging has 8 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dhaval Nanalal Dagla Also directs: Cubatic Pack India LLP | Director | 02 Nov 2015 | 11 Years 0 Months | Current |
| Manishbhai Nanalal Dagla | Managing Director | 02 Nov 2015 | 11 Years 0 Months | Current |
| Aalap Dipak Shah Also directs: Octa Labels LLP | Director | 16 May 2021 | 5 Years 5 Months | Current |
| Jigar Harivadan Contractor | Director | 16 May 2021 | 5 Years 5 Months | Current |
| Jigar Manubhai Shah | Director | 16 May 2021 | 5 Years 5 Months | Current |
| Bhadresh Kantilal Mehta | Director | 21 Jul 2025 | 1 Years 3 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Dhaval Packaging Limited is compared with the 5 companies closest to it by revenue in the Packaging industry (Industrial Packaging), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Dhaval Packaging Limitedthis company | ₹65.03 Cr (FY 2026) | ₹8.04 Cr | 12.4% | 24.4% | Sanand, Gujarat, India | |
| Active Printpack Private Limited | ₹49.4 Cr (FY 2025) | -10.0% | Delhi, India | |||
| Ahinsa Polyfilms Private Limited | ₹49.37 Cr (FY 2024) | 1.0% | Ahmedabad, Gujarat, India | |||
| Green Pack Foils Private Limited | ₹49.12 Cr (FY 2024) | -14.0% | Rakanpur, Gujarat, India | |||
| Vinayak Ultraflex Private Limited | ₹48.76 Cr (FY 2025) | -3.0% | Uttar Pradesh, India | |||
| Ritika Packaging Private Limited | ₹47.67 Cr (FY 2025) | 20.0% | Goa, India |
To see the full peer comparison of Dhaval Packaging Limited, buy the company report.
Charges & borrowings
Open charges
₹29.49 Cr
Satisfied charges
₹13.45 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Apr 2024 | 100915994 | Standard Chartered Bank | ₹1 Cr | Open | |
| 16 Apr 2024 | 100915996 | Standard Chartered Bank | ₹26.93 Cr | Open | |
| 17 Aug 2023 | 100782002 | Others | ₹1.42 Cr | Open | |
| 25 Apr 2023 | 100711938 | Others | ₹14 Lakh | Open | |
| 04 May 2022 | 100577085 | Sidbi | ₹2.84 Cr | Satisfied |
To see the full charge records of Dhaval Packaging Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Dhaval Packaging Limited has 4 deals on record (3 market trades, 1 ipo); the latest was in September 2026.
Total deals
4
Market trades
3
IPO
1
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2026 | Market trade | ₹84.7 Lakh | Buyer: an individual |
| Aug 2026 | Market trade | ₹93.3 Lakh | Buyer: an individual |
| Aug 2026 | Market trade | ₹3.42 Cr | Buyer: Stellar Growth Fund Vcc-Silver Capital Management Incorporated Vcc Sub-Fund, 2 individuals |
| Aug 2026 | IPO | ₹36.36 Cr | Investors: Carnelian Aif Category I Trust-scheme 1, Saint Capital Fund, Vvd Equity Fund |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Dhaval Packaging Limited has 2 court cases on record: 2 filed by Dhaval Packaging. All cases are disposed.
Total cases
2
Filed by the company
2
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 0 | 0 |
Cases on record (1 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against M/S Crave International and 2 others | Disposed |
To see the full case history of Dhaval Packaging 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 Dhaval Packaging Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Dhaval Packaging has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAFCD5021Q1ZK | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Dhaval Packaging Limited, buy the company report.
Recent activity
Dhaval Packaging Limited has 15 board changes on record since 2015: 8 appointments and 7 cessations. The latest: Bhadresh Kantilal Mehta ceased to be Additional Director on 22 Jul 2025.
Charges
A charge registered on 04 May 2022 via Charge ID 100577085 with Sidbi was fully satisfied on 10 Apr 2026.
Filing
Dhaval Packaging Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
AGM
Dhaval Packaging Limited last Annual general meeting of members was held on 08 Sep 2025 as per latest MCA records.
Ceased
Bhadresh Kantilal Mehta ceased to be Additional Director.
Ceased
Kenan Sureshbhai Patel ceased to be Additional Director.
Ceased
Khyati Bhavya Shah ceased to be Additional Director.
Appointed
Bhadresh Kantilal Mehta was appointed as Director.
Appointed
Kenan Sureshbhai Patel was appointed as Director.
Appointed
Khyati Bhavya Shah was appointed as Director.
Ceased
Manishbhai Nanalal Dagla ceased to be Director.
Charges
A charge with Standard Chartered Bank of Rs. 1.00 Cr registered on 16 Apr 2024 with Charge ID 100915994 was modified on 30 Jun 2025.
Charges
A charge with Standard Chartered Bank of Rs. 26.93 Cr registered on 16 Apr 2024 with Charge ID 100915996 was modified on 30 Jun 2025.
19 earlier events are in the company report.
News
Frequently asked questions
Dhaval Packaging is an active public limited company based in Sanand, Gujarat, India. The company works in industrial packaging solutions, within the packaging industry. It was incorporated on 02 November 2015 (11+ years old) and is registered under CIN U22203GJ2015PLC084963. Listed on BSE: 544854.
Dhaval Packaging reported revenue of ₹65.03 Cr for FY 2025-26 (up 24.4% YoY) based on standalone financials.
Dhaval Packaging has 8 current directors:
- Manishbhai Nanalal Dagla - Managing Director
- Dhaval Nanalal Dagla - Director
- Aalap Dipak Shah - Director
- Jigar Harivadan Contractor - Director
- Jigar Manubhai Shah - Director
- Bhadresh Kantilal Mehta - Director
- Khyati Bhavya Shah - Director
- Kenan Sureshbhai Patel - Director
The latest financial statements of Dhaval Packaging on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 08 September 2025. Year-wise statements from FY 2016 are in the company report.
The GSTIN of Dhaval Packaging is 24AAFCD5021Q1ZK, registered in Gujarat.
The CIN (Corporate Identification Number) of Dhaval Packaging is U22203GJ2015PLC084963. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Dhaval Packaging is a listed company as per MCA records. Its shares are listed on BSE (code: 544854).
Dhaval Packaging has 2 court cases on record: 2 filed by the company.
Dhaval Packaging was incorporated on 02 November 2015, making it 11+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Dhaval Packaging has 4 deals on record (3 market trades, 1 ipo); the latest was in September 2026.
The peers of Dhaval Packaging by revenue are Active Printpack Private Limited, Ahinsa Polyfilms Private Limited, Green Pack Foils Private Limited, Vinayak Ultraflex Private Limited, Ritika Packaging Private Limited, all in the Packaging industry (Industrial Packaging), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
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