About Espee Formulation Private Limited
Data last updated:
Espee Formulation Private Limited is a private limited company based in Rajkot, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 28 July 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24231GJ1988PTC011043. Its GSTIN is 24AAACE4668F1ZS (Gujarat).
The company has an authorised share capital of ₹90 Lakh and a paid-up capital of ₹80 Lakh. It is led by directors including Vijay Ramniklal Badani (Whole-Time Director) and Virendra Champaklal Kothari (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Sector No : 2 Plot No : 15 Shapar, Rajkot, Gujarat, India – 360002.
As per the financials filed for FY 2025, the company reported a revenue of ₹2.35 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net loss of ₹18.57 Lakh (net margin -7.9%) and EBITDA of ₹31.36 Lakh (EBITDA margin 13.4%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 3% over five years.
The company has about 24 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹2.28 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website espeeformulation.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressSector No : 2 Plot No : 15 Shapar, Rajkot, Gujarat, India – 360002
- IndustryPharma, Drug Formulation & Development
- 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
- One PDF report, delivered after checkout
Business Activity of Espee Formulation Private Limited
The main business activity of Espee Formulation is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Espee Formulation Private Limited FY 2024 filings available
Espee Formulation Private Limited reported revenue of ₹2.35 Cr (down 3% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Espee Formulation Private Limited
Revenue fell 3% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 3%. EBITDA fell 19% 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 of Espee Formulation Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹31.36 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹18.57 Lakh | •••• | •••• | •••• | •••• |
| 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 of Espee Formulation Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 13.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -7.9% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Espee Formulation are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Espee Formulation Private Limited
Espee Formulation Private Limited is compared with the companies closest to it by revenue in the Pharma industry (Formulations). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Dhavit Global Life Sciences Private Limited | ₹2.36 Cr (FY 2021) | •••• | •••• | •••• | Solapur, Maharashtra, India | |
| Quality Innovations and Pharmaceuticals India Private Limited | ₹2.36 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Thiruvananthapuram, Kerala, India |
| Sarabhai M. Chemicals Limited | ₹2.35 Cr (FY 2025) | •••• | •••• | 14.0% | •••• | Ahmedabad, Gujarat, India |
| Swakam Biotech Private Limited | ₹2.35 Cr (FY 2025) | •••• | •••• | 11.0% | •••• | Chandigarh, India |
| Baijul Pharma Pvt Ltd | ₹2.35 Cr (FY 2025) | •••• | •••• | 77.0% | •••• | Sarigam, Gujarat, India |
| Espee Formulation Private Limited this company | ₹2.35 Cr (FY 2025) | •••• | •••• | -3.0% | •••• | Rajkot, Gujarat, India |
| Biomorph Lifesciences Private Limited | ₹2.34 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Chandigarh, India |
| Arihanta Siddha Laboratories Pvt Ltd | ₹2.34 Cr (FY 2024) | •••• | •••• | 3.0% | •••• | Sangli, Maharashtra, India |
| Yaron Labs Private Limited | ₹2.33 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Ahmedabad, Gujarat, India |
| Cablin Health Care Private Limited | ₹2.33 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Haridwar, Uttarakhand, India |
| Dynamic Lifecare Private Limited | ₹2.33 Cr (FY 2025) | •••• | •••• | 97.0% | •••• | Ahmedabad, Gujarat, India |
Peers are the five companies nearest above and the five nearest below Espee Formulation by revenue in the Pharma industry (Formulations), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Espee Formulation Private Limited
Espee Formulation Private Limited is audited by C. A. & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| C. A. & Co. | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Espee Formulation Private Limited
Espee Formulation has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vijay Ramniklal Badani Also directs: Tayan Creations Private Limited | Whole-Time Director | 28 Jul 1988 | 38 Years 2 Months | Current |
| Virendra Champaklal Kothari | Whole-Time Director | 28 Jul 1988 | 38 Years 2 Months | Current |
| Jayesh Kantilal Desai Also directs: Pinank Wires and Cables LLP | Director | 21 Dec 2016 | 9 Years 9 Months | Current |
Ownership and Shareholding of Espee Formulation Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Espee Formulation Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Nov 2021 | Others | ₹19.98 Lakh | Open |
| 08 Jun 2020 | Others | ₹40 Lakh | Open |
| 27 Dec 2019 | Others | ₹44.42 Lakh | Open |
| 02 Jan 1998 | Others | ₹48.75 Lakh | Open |
| 12 Dec 1997 | Central Bank of India | ₹15 Lakh | Open |
Total charge records: 9 View all charges
Employees and EPFO Compliance at Espee Formulation Private Limited
Espee Formulation Private Limited has a workforce of 24 employees as of Apr 07, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Espee Formulation Private Limited
Espee Formulation Private Limited has 4 board changes on record since 1988: 3 appointments and 1 cessation. The latest: Jayesh Kantilal Desai ceased to be Additional Director on 30 Sep 2017.
7 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Espee Formulation Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Espee Formulation Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Espee Formulation Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Espee Formulation Private Limited
Espee Formulation has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACE4668F1ZS | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Espee Formulation Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Espee Formulation Private Limited
Espee Formulation is an active private limited company based in Rajkot, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 28 July 1988 (38+ years old) and is registered under CIN U24231GJ1988PTC011043.
Espee Formulation reported revenue of ₹2.35 Cr for FY 2025 (down 3% YoY).
Espee Formulation has 3 current directors:
- Vijay Ramniklal Badani - Whole-Time Director
- Virendra Champaklal Kothari - Whole-Time Director
- Jayesh Kantilal Desai - Director
Espee Formulation reported a net loss of ₹18.57 Lakh (net margin -7.9%) and EBITDA of ₹31.36 Lakh (EBITDA margin 13.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Espee Formulation is -3% over three years and 3% over five years. In the latest year (FY 2025) revenue fell 3%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Espee Formulation is 24AAACE4668F1ZS, registered in Gujarat.
The CIN (Corporate Identification Number) of Espee Formulation is U24231GJ1988PTC011043. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Espee Formulation was incorporated on 28 July 1988, making it 38+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Espee Formulation by revenue are Dhavit Global Life Sciences Private Limited, Quality Innovations and Pharmaceuticals India Private Limited, Sarabhai M. Chemicals Limited, Swakam Biotech Private Limited, Baijul Pharma Pvt Ltd and 5 more, all in the Pharma industry (Formulations).
Jayesh Kantilal Desai ceased to be Additional Director on 30 Sep 2017. Jayesh Kantilal Desai was appointed as Director on 21 Dec 2016. Vijay Ramniklal Badani was appointed as Whole-Time Director on 28 Jul 1988. Espee Formulation has 4 board changes on record in total.
Espee Formulation can be reached through the website espeeformulation.com. Its registered office is in Rajkot, Gujarat, India.