Encube Ethicals Private Limited - Company Profile

It is a pharma private limited company based in Mumbai, Maharashtra, India, established in 1995.

1995 Mumbai, Maharashtra, India Active

Last Updated: January 06, 2026

About Encube Ethicals Private Limited

Encube Ethicals Private Limited, a active private limited company, was established on 07 September 1995 in Mumbai, Maharashtra, India. Engaging in drug formulation & development within the manufacturing sector, it holds CIN: U24230MH1995PTC092485. Registered under ROC Roc Mumbai. it is unlisted. It has an authorized capital of ₹15.00 Cr and a paid-up capital of ₹10.13 Cr.

It upholds a compliant status. Employing 1,139 professional, Its leadership includes Mehul Madhusudan Shah (Managing Director), Nilesh Navinchandra Maniar (Director), Amit Varma (Director). Past directors included Mehul Madhusudan Shah, Renuka Ramnath, Hiral Himmat Gohil. It holds ₹308.10 Cr open charges and ₹5.16 Cr settled loans. Its latest AGM occurred on 30 September 2025, with the balance sheet filed on 31 March 2024. It is based at 803, B Wing, Hdil Kaledonia, Sahar Road, Andheri East, Mumbai, Maharashtra, 400069.

Company Details

CIN/LLPIN
U24230MH1995PTC092485
Registration Number
092485
Incorporation Date
07 September 1995
Authorized Capital
₹15.00 Cr
Paid-Up Capital
₹10.13 Cr
ROC Code
Roc Mumbai
Listing Status
Unlisted
Company Status
Active

Key Metrics

Authorised Capital ₹ 15.00 Cr as on 06-01-2026
Paid Up Capital ₹ 10.13 Cr as on 06-01-2026
Company Age 30 Year, 6 Months
Last Filing with ROC 31 Mar 2024
Open Charges ₹ 308.10 Cr as on 06-01-2026
Satisfied Charges ₹ 5.16 Cr as on 06-01-2026
Revenue Growth **** 45.73% (FY 2023)
Profit Growth **** 64.35% (FY 2023)
Ebitda **** 52.49% (FY 2023)
Net Worth 18.42% (FY 2023)
Total Assets **** 20.47% (FY 2023)

Comprehensive Company Insights

Explore comprehensive insights into Encube Ethicals Private Limited — covering financial performance, compliance records, Competitor, shareholding patterns, directors, key metrics, and litigation history. Unlock to see detailed insights and stay informed.

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Who are the key members and board of directors at Encube Ethicals Private Limited?

Current Directors

Name	Designation	Appointment Date	Status
Mehul Madhusudan Shah	Managing Director	07 Sep 1995	Current
Nilesh Navinchandra Maniar	Director	30 Jan 2002	Current
Amit Varma	Director	28 Jun 2021	Current
Madhusudan Nyalchand Shah	Director	07 Sep 1995	Current
Himanshu Mahendra Gandhi	Director	30 Jan 2002	Current
Jinaraja Sanjeeva Poojary	Director	26 Nov 2025	Current

Past Directors

Name	Designation	Cessation	Status
Pramod Abcsdd	Director	15 Jul 2016	Past
Pramod Abcsdd	Nominee Director	28 Jun 2021	Past
Pramod Abcsdd	Company Secretary	-	Past
Pramod Abcsdd	Additional Director	28 Jun 2021	Past
Pramod Abcsdd	Additional Director	30 Sep 2020	Past
Pramod Abcsdd	Company Secretary	-	Past

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Financial Performance of Encube Ethicals.

Encube Ethicals Private Limited, for the financial year ended 2023, experienced significant growth in revenue, with a 45.73% increase. The company also saw a substantial improvement in profitability, with a 64.35% increase in profit. The company's net worth Soared by an impressive increase of 18.42%.

Date	Amount	Transaction Name	Valuation	Lead Investors	Investors
Jul, 2021	Amount	Post-IPO - Grab	Valuation	investors	Emtek
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners
Jan, 2021	Amount	Post-IPO - Grab	Valuation	investors	Hana Financial Group , GGV Capital
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners

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Key Matrics
Balance Sheet
Profit and Loss
Cash Flow
Ratios

Metrics

(FY 2023)

YOY Growth

(FY 2022)

(FY 2021)

(FY 2020)

(FY 2019)

Total Revenue

********

45.73%

*******

Revenue from Operations

*******

47.25%

*******

Total Assets

*******

20.47%

*******

Profit or Loss

*******

64.35%

*******

Net Worth

*******

18.42%

*******

EBITDA

*******

52.49%

*******

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What is the Ownership and Shareholding Structure of Encube Ethicals?

In 2023, Encube Ethicals had a promoter holding of 84.92% and a public holding of 15.08%. Access key insights, ownership, including shareholding patterns, funding, foreign investors, KMP remuneration, group structure, and overseas investments.

Shareholding Pattern (FY 2024)

Promoters: 92.83%
Public: 4.10%
Others: 3.07%

Shareholding Pattern over the Year

	FY (2024)	FY (2023)	FY (2022)	FY (2021)	FY (2020)
Promoters	92.83	94.62	94.55	94.55	94.55
Public	4.10	3.89	3.95	3.96	3.98
Others	3.07	1.49	1.50	1.49	1.47

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Charges (Loans)

Open Charges

₹3,081,000,000.00

Satisfied Charges

₹51,600,000.00

Charges Breakdown by Lending Institutions

Hdfc Bank Limited : 246.00 Cr
Citi Bank N.A. : 62.10 Cr

Latest Charge Details

Date	Lender	Amount	Status
22 Mar 2019	Citi Bank N.A.	₹62.10 Cr	Open
31 Jul 2009	Hdfc Bank Limited	₹246.00 Cr	Open
20 Mar 2009	Janakalyan Sahakari Bank Limited	₹6.60 M	Satisfied
20 Mar 2009	Janakalyan Sahakari Bank Limited	₹5.00 M	Satisfied
03 Feb 2007	Icici Bank Limited	₹2.00 Cr	Satisfied

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How Many Employees Work at Encube Ethicals?

Encube Ethicals has a workforce of 1139 employees as of Apr 06, 2024. Unlock access to detailed historical data on individuals associated with the company, including employment records, contributions to the Employees' Provident Fund Organization (EPFO), and other related insights.

Employee Date	Number of Employees
2020	78,000
2021	80,500
2022	83,200
2023	86,000
2024	89,500
2025	92,000

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Deals i

Gain comprehensive insights into the Deals and Valuation data of Encube Ethicals, offering detailed information on various transactions, including security allotment data. Explore the intricate details of financial agreements, mergers, acquisitions, divestitures, and strategic partnerships that have shaped Encube Ethicals's trajectory.

Rating

Access the credit rating data, providing valuable insights into the company's creditworthiness and financial stability. Explore assessments from leading credit rating agencies, evaluating factors such as debt obligations, liquidity, profitability, and overall financial health.

Alerts

Stay informed about regulatory alerts and litigation involving and associated companies. Receive timely updates on legal proceedings, regulatory changes, and compliance issues that may impact the company's operations, reputation, and financial performance. Monitor litigation involving subsidiaries, joint ventures, and other affiliated entities to assess potential risks and liabilities.

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Latest Updates, News, and FAQs on Encube Ethicals

Recent Activity within the Organization

Director Appointment

Progress on Jinaraja Sanjeeva Poojary was appointed as a Director was appointed as a Director on 26 Nov 2025 & has been associated with this company since 4 months 6 days . was documented.
26 Nov 2025
Annual General Meeting

Encube Ethicals Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records. was recorded as a recent event.
30 Sep 2025
Charges

The activity A charge with Hdfc Bank Limited of Rs. 246.00 Cr registered on 31 Jul 2009 with Charge ID 10171735 was modified on 05 Oct 2024. was completed.
05 Oct 2024
Balance Sheet

Encube Ethicals Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai. was recorded as a recent event.
31 Mar 2024
Director Appointment

The activity Parineeta Shivaprasad Poonja was appointed as a Company Secretary was appointed as a Company Secretary on 09 May 2023 & has been associated with this company since 2 years 10 months . was completed.
09 May 2023
Director Appointment

Progress on Amit Varma was appointed as a Director was appointed as a Director on 28 Jun 2021 & has been associated with this company since 4 years 9 months . was documented.
28 Jun 2021

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