MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-24-0004982
Elmex Electric Private Limited - energy and power in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹293.43 Cr
▲ 30% YoY
Net profit · FY 2025
₹32.34 Cr
Net margin 11%
EBITDA · FY 2025
₹50.08 Cr
EBITDA margin 17.1%
Authorised capital
₹1.5 Cr
Registered with MCA
Paid-up capital
₹95 Lakh
Issued & subscribed
Open charges
₹28.98 Cr
Satisfied ₹16.1 Cr
Company age
34 yrs
Est. 1992
Employees · EPFO
252
Provident fund records
About Elmex Electric Private Limited
Data last updated:
Elmex Electric Private Limited is a private limited company based in Vadodara, Gujarat, India. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 31 July 1992 and has been in existence for over 34 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U31100GJ1992PTC018091. Its GSTIN is 24AAACE4966E1ZT (Gujarat).
The company has an authorised share capital of ₹1.5 Cr and a paid-up capital of ₹95 Lakh. It was formerly known as Econix Hi - Tech Components Limited and Econix Hi-Tech Components Private Limited. It is led by directors including Vipul Jayantilal Ray (Managing Director) and Jayantilal Dhanjibhai Ray.
Its last annual general meeting (AGM) was held on 27 September 2024, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 12 GIDC Estate Makarpura Road, Vadodara, Gujarat, India – 390010.
As per the financials filed for FY 2025, the company reported a revenue of ₹293.43 Cr, a growth of 30% compared to the previous year. For the same year it recorded a net profit of ₹32.34 Cr (net margin 11%) and EBITDA of ₹50.08 Cr (EBITDA margin 17.1%). Revenue has grown at a compounded annual rate (CAGR) of 27% over three years and 27% over five years.
The company has about 252 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹28.98 Cr and satisfied charges of ₹16.1 Cr on record. Court records list 12 cases involving the company, including 10 filed by the company and 2 filed against it; 1 case is pending. The company has 8 deals on record (8 secondary share transfers); the latest was in March 2019. Its 3 peer companies in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 2 larger and 1 smaller; the largest is Enpay Transformer Components India Private Limited with revenue of ₹303.48 Cr. The company has 13 MSME Form 1 returns on record between 2019 and 2023, listing 549 overdue payments to 16 micro and small suppliers.
Elmex Electric Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0004982). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website elmex.net.
Company details
CIN U31100GJ1992PTC018091
Registration Number 018091
Incorporation Date 31 July 1992
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-24-0004982
Name history
Elmex Electric has undergone 3 name changes throughout its history. The company was previously known as Econix Hi - Tech Components Limited, Econix Hi-Tech Components Private Limited, and Econix Hi-Tech Components Limited. The current legal name is Elmex Electric Private Limited.
| Company Name | Status |
|---|---|
| Elmex Electric Private Limited | Current |
| Econix Hi - Tech Components Limited | Previous |
| Econix Hi-Tech Components Private Limited | Previous |
| Econix Hi-Tech Components Limited | Previous |
Key People
Vipul Jayantilal Ray Managing Director Jayantilal Dhanjibhai Ray Director Jignesha Vipul Ray Director Recognitions & Rankings of Elmex Electric
Contact details
Elmex Electric Private Limited's registered office is in Vadodara, Gujarat. Its website is elmex.net. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address12 GIDC Estate Makarpura Road, Vadodara, Gujarat, India – 390010
- IndustryEnergy and Power, Power Equipment Manufacturers
To see the full contact details of Elmex Electric Private Limited, buy the company report.
Comprehensive company report
Elmex Electric 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 Elmex Electric 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 Elmex Electric Private Limited, buy the company report.
Financials of Elmex Electric Private Limited
FY 2025 filings availableElmex Electric Private Limited reported revenue of ₹293.43 Cr (up 30% YoY) for FY 2025.
Revenue · FY 2025
₹293.43 Cr ▲ 30%
Net profit · FY 2025
₹32.34 Cr margin 11%
EBITDA · FY 2025
₹50.08 Cr margin 17.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 30%
3 years · compounded
▲ 27%
5 years · compounded
▲ 27%
EBITDA CAGR growth
1 year
▲ 35%
3 years · compounded
▲ 51%
5 years · compounded
▲ 30%
Revenue has grown at a compounded annual rate (CAGR) of 27% over five years, including 30% growth in the latest year. EBITDA rose 35% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹293.43 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹50.08 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹32.34 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 17.1% | ||||
| Net Profit Margin | 11% | ||||
| 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 Elmex Electric Private Limited, buy the company report.
Board of directors of Elmex Electric Private Limited
Elmex Electric has 5 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jayantilal Dhanjibhai Ray Also directs: Econ Electro Pvt Ltd, Elmex Electricals and Electronics Pvt Ltd, Elmex Controls Pvt Ltd and 1 more | Director | 30 Sep 2005 | 21 Years 1 Months | Current |
| Jignesha Vipul Ray Also directs: Econ Electro Pvt Ltd, Elmex Electricals and Electronics Pvt Ltd, Elmex Controls Pvt Ltd and 3 more | Director | 14 Apr 2004 | 22 Years 6 Months | Current |
| Vipul Jayantilal Ray Also directs: Elmex Controls Pvt Ltd, Elmex Charitable Foundation | Managing Director | 01 Apr 1993 | 33 Years 7 Months | Current |
| Manjulaben Jayantilal Ray Also directs: Econ Electro Pvt Ltd, Elmex Electricals and Electronics Pvt Ltd, Elmex Controls Pvt Ltd and 3 more | Director | 10 Jun 2008 | 18 Years 5 Months | Current |
| Shashikant Joshi Janardan Also directs: Econ Electro Pvt Ltd, Elmex Electricals and Electronics Pvt Ltd, Elmex Controls Pvt Ltd and 1 more | Director | 06 Jun 2000 | 26 Years 5 Months | Current |
Peer comparison
Elmex Electric Private Limited is compared with the 3 companies closest to it by revenue in the Power industry (Power Equipment Manufacturers), 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.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Enpay Transformer Components India Private Limited | ₹303.48 Cr (FY 2025) | 44.0% | Savli, Gujarat, India | |||
| Lucy Electric Manufacturing and Technologies India Private Limited | ₹297.06 Cr (FY 2025) | 36.0% | Halol, Gujarat, India | |||
| Elmex Electric Private Limitedthis company | ₹293.43 Cr (FY 2025) | ₹32.34 Cr | 11% | 30.0% | 252 | Vadodara, Gujarat, India |
| Hi-Tech Systems & Services Ltd. | ₹290.03 Cr (FY 2024) | 19.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Elmex Electric Private Limited, buy the company report.
Auditor
Elmex Electric Private Limited is audited by Talati & Talati for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Talati & Talati | FY 2024 | 110758W/W100377 |
Shareholding
The shareholding of Elmex Electric Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Elmex Electric Private Limited, buy the company report.
Charges & borrowings
Open charges
₹28.98 Cr
Satisfied charges
₹16.1 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Sep 2016 | 100053377 | Others | ₹14.8 Lakh | Open | |
| 13 Apr 2015 | 10576335 | Others | ₹28.83 Cr | Open | |
| 12 Jan 2006 | 80027555 | State Bank of India | ₹7.7 Cr | Satisfied | |
| 16 Apr 2005 | 90100026 | State Bank of India | ₹8.4 Cr | Satisfied | |
| 25 Jun 2003 | 90099669 | The Makarpura Indl Estate Co-Operative Bank Ltd. | ₹- | Satisfied |
To see the full charge records of Elmex Electric Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Elmex Electric Private Limited has 8 deals on record (8 secondary share transfers); the latest was in March 2019.
Total deals
8
Secondary share transfers
8
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 3 individuals |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Jayantilal D Ray Huf & Manjula Ben Ray, an individual |
| Dec 2011 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 4 individuals |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| Feb 2008 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 2 individuals |
To see the full deal history of Elmex Electric Private 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
Elmex Electric Private Limited has 12 court cases on record: 10 filed by Elmex Electric, 2 filed against it. 1 case is pending and 11 are disposed.
Total cases
12
Filed by the company
10
Filed against the company
2
Pending
1
Disposed
11
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 9 | 0 | 1 |
| High courts | 3 | 2 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Commercial matter | Filed by the company against Sintex-Bapl Limited (Registered Company) and 1 other | Disposed |
| High Court of Delhi | Court case (FAO(OS)) | Filed by the company against Microsoft Corporation India Pvt Ltd & Anr | Disposed |
| District court, Vadodara, Gujarat | Court case (SMST R) | Filed by the company against Chaitanya Manvendra Prabhawale Proprietor of M/S K C Electricals | Pending |
| District court, Vadodara, Gujarat | Criminal complaint | Filed by the company against Electrical Solutions and 2 others | Disposed |
| District court, Vadodara, Gujarat | Criminal complaint | Filed by the company against M/S SG Engineers and 2 others | Disposed |
To see the full case history of Elmex Electric 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
Elmex Electric Private Limited has 13 MSME Form 1 returns on record between 2019 and 2023, listing 549 overdue payments to 16 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 16)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Maple Impex | |||
| Elmex Controls Pvt Ltd | |||
| Elmex Electricals and Electronics Pvt Ltd | |||
| Agility Elektrotekniks Private Limited | |||
| Jay International |
To see the full MSME payment records of Elmex Electric Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Elmex Electric Private Limited has a workforce of 252 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Employee count
252
Active EPFO establishments
1
Employee growth
20.6%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 252 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Elmex Electric Private Limited, buy the company report.
GST
Elmex Electric has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACE4966E1ZT | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Elmex Electric Private Limited, buy the company report.
Recent activity
Elmex Electric Private Limited has 10 board changes on record since 1993: 5 appointments and 5 cessations. The latest: Amarnath Laxminath Shastri ceased to be Director on 05 Feb 2023.
Charges
A charge with Others of Rs. 28.83 Cr registered on 13 Apr 2015 with Charge ID 10576335 was modified on 12 May 2025.
Filing
Elmex Electric Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
AGM
Elmex Electric Private Limited last Annual general meeting of members was held on 27 Sep 2024 as per latest MCA records.
Ceased
Amarnath Laxminath Shastri ceased to be Director.
Charges
A charge with Others amounted to Rs. 0.15 Cr with Charge ID 100053377 was registered on 30 Sep 2016.
Charges
A charge registered on 12 Jan 2006 via Charge ID 80027555 with State Bank Of India was fully satisfied on 10 Jul 2015.
Charges
A charge registered on 16 Apr 2005 via Charge ID 90100026 with State Bank Of India was fully satisfied on 10 Jul 2015.
Charges
A charge with Others amounted to Rs. 28.83 Cr with Charge ID 10576335 was registered on 13 Apr 2015.
Charges
A charge with State Bank Of India of Rs. 7.70 Cr registered on 12 Jan 2006 with Charge ID 80027555 was modified on 17 Feb 2011.
Charges
A charge with State Bank Of India of Rs. 8.40 Cr registered on 16 Apr 2005 with Charge ID 90100026 was modified on 17 Feb 2011.
Ceased
Chandubhai Somabhai Patel ceased to be Director.
Ceased
Dilip Chimanlal Trivedi ceased to be Director.
12 earlier events are in the company report.
Frequently asked questions
Elmex Electric is an active private limited company based in Vadodara, Gujarat, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 31 July 1992 (34+ years old) and is registered under CIN U31100GJ1992PTC018091.
Elmex Electric has 5 current directors:
- Vipul Jayantilal Ray - Managing Director
- Jayantilal Dhanjibhai Ray - Director
- Jignesha Vipul Ray - Director
- Manjulaben Jayantilal Ray - Director
- Shashikant Joshi Janardan - Director
The latest financial statements of Elmex Electric on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 27 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Elmex Electric is 24AAACE4966E1ZT, registered in Gujarat.
The CIN (Corporate Identification Number) of Elmex Electric is U31100GJ1992PTC018091. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Elmex Electric has 12 court cases on record: 10 filed by the company and 2 filed against it. 1 is pending. Most are in the district courts.
Elmex Electric was incorporated on 31 July 1992, making it 34+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Elmex Electric has 8 deals on record (8 secondary share transfers); the latest was in March 2019.
The peers of Elmex Electric by revenue are Enpay Transformer Components India Private Limited, Lucy Electric Manufacturing and Technologies India Private Limited, Hi-Tech Systems & Services Ltd, all in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Amarnath Laxminath Shastri ceased to be Director on 05 Feb 2023. Chandubhai Somabhai Patel ceased to be Director on 10 Jul 2010. Dilip Chimanlal Trivedi ceased to be Director on 03 Mar 2010. Elmex Electric has 10 board changes on record in total.
Yes, Elmex Electric is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-24-0004982).
Elmex Electric has 13 MSME Form 1 returns on record between 2019 and 2023, listing 549 overdue payments to 16 micro and small suppliers. The latest return was filed on 03 Dec 2023.
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