About Ethics Assets Private Limited
Data last updated:
Ethics Assets Private Limited is a private limited company based in Bhubaneswar, , India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 01 October 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Cuttack, under CIN U70101OR2012PTC016027. Its GSTIN is 21AADCE1788R2Z6 (Odisha). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹10 Cr. It is led by directors Gopinath Nayak (Managing Director) and Sujata Nayak.
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 No – 121 District Center Chandrasekharpur, Bhubaneswar, Odisha, India – 751016.
As per the financials filed for FY 2025, the company reported a revenue of ₹28.15 Cr, a decline of 30% compared to the previous year. For the same year it recorded a net profit of ₹1.12 Cr (net margin 4%) and EBITDA of ₹2.9 Cr (EBITDA margin 10.3%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 4% over five years.
The company has about 16 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹17.48 Cr and satisfied charges of ₹16.17 Cr on record. Court records list 3 cases involving the company, including 2 filed by the company and 1 filed against it; 2 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ethicsassets.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressPlot No – 121 District Center Chandrasekharpur, Bhubaneswar, Odisha, India – 751016
- IndustryReal Estate and Construction, Real Estate Builders & Developers
- 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 Ethics Assets Private Limited
The main business activity of Ethics Assets is construction. In detail, this covers demolition & site preparation, electrical, plumbing & other specialized construction activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities | 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 Ethics Assets Private Limited FY 2025 filings available
Ethics Assets Private Limited reported revenue of ₹28.15 Cr (down 30% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Ethics Assets Private Limited
Revenue fell 30% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 4%. EBITDA rose 94% 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 Ethics Assets 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 | ₹2.9 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹1.12 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 of Ethics Assets Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 10.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 4% | •••• | •••• | •••• | •••• |
| 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 Ethics Assets 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 Ethics Assets Private Limited
Ethics Assets Private Limited is compared with the companies closest to it by revenue in the Real Estate industry (Builders and Developers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Green Orbit Real Estate Development Private Limited | ₹28.21 Cr (FY 2025) | •••• | •••• | 25.0% | •••• | Noida, Uttar Pradesh, India |
| Akshat Apartments Private Limited | ₹28.2 Cr (FY 2025) | •••• | •••• | -43.0% | •••• | Jaipur, Rajasthan, India |
| Rudraksh Developers Private Limited | ₹28.19 Cr (FY 2023) | •••• | •••• | 9.0% | •••• | Lucknow, Uttar Pradesh, India |
| Zuari Infraworld India Limited | ₹28.17 Cr (FY 2025) | •••• | •••• | -58.0% | •••• | Bangalore, Karnataka, India |
| Aastha Infracity Limited | ₹28.16 Cr (FY 2025) | •••• | •••• | -43.0% | •••• | New Delhi, Delhi, India |
| Ethics Assets Private Limited this company | ₹28.15 Cr (FY 2025) | •••• | •••• | -30.0% | •••• | Bhubaneswar, Odisha, India |
| Cosme Costa Construction Private Limited | ₹28.15 Cr (FY 2024) | •••• | •••• | 6.0% | •••• | Goa, India |
| V N Sharma Builders Private Limited | ₹28.12 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Patiala, Punjab, India |
| Shree Pitambra Infrazone Private Limited | ₹28.11 Cr (FY 2024) | •••• | •••• | -20.0% | •••• | Jhansi, Uttar Pradesh, India |
| Nirban Infrastructure Private Limited | ₹28.11 Cr (FY 2025) | •••• | •••• | 21.0% | •••• | Mumbai, Maharashtra, India |
| Chhend Heritage Homes Private Limited | ₹28.1 Cr (FY 2025) | •••• | •••• | 158447.0% | •••• | Raurkela, Odisha, India |
Peers are the five companies nearest above and the five nearest below Ethics Assets by revenue in the Real Estate industry (Builders and Developers), 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 Ethics Assets Private Limited
Ethics Assets Private Limited is audited by BAPS & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| BAPS & ASSOCIATES | 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 Ethics Assets Private Limited
Ethics Assets has 2 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sujata Nayak | Director | 01 Oct 2012 | 14 Years 0 Months | Current |
| Gopinath Nayak Also directs: Ethics Industries Private Limited, Ethics Refinery Private Limited, Ethics Marketing Private Limited and 1 more | Managing Director | 01 Oct 2012 | 14 Years 0 Months | Current |
Ownership and Shareholding of Ethics Assets 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 Ethics Assets Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Nov 2025 | Indian Bank | ₹6.48 Cr | Open |
| 20 Dec 2024 | Others | ₹5 Cr | Open |
| 06 Oct 2021 | State Bank of India | ₹6 Cr | Open |
| 29 Sep 2023 | State Bank of India | ₹14 Cr | Satisfied |
| 16 Jan 2017 | State Bank of India | ₹2.17 Cr | Satisfied |
Total charge records: 5 View all charges
Legal Cases of Ethics Assets Private Limited
Ethics Assets Private Limited has 3 court cases on record: 2 filed by Ethics Assets, 1 filed against it. 2 cases are pending and 1 is disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 1 |
| District courts | 1 | 1 | 1 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Orissa | Writ petition | Filed by the company against Commissioner, CT and GST, Cuttack | Pending |
| District court, Khurda, Odisha | Civil suit | Filed against the company by an individual | Pending |
| High Court of Orissa | Writ petition | Filed by the company against Central Board of Indirect Taxes and Customs | Disposed |
Full case history
All 3 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Ethics Assets Private Limited
Ethics Assets Private Limited has a workforce of 16 employees as of Apr 04, 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 Ethics Assets Private Limited
Ethics Assets Private Limited has 2 board changes on record since 2012: 2 appointments. The latest: Gopinath Nayak was appointed as Managing Director on 01 Oct 2012.
1 earlier event is listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Ethics Assets 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 Ethics Assets 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 Ethics Assets 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 Ethics Assets Private Limited
Ethics Assets has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 21AADCE1788R2Z6 | Odisha | Active | 12 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 Ethics Assets 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 Ethics Assets Private Limited
Ethics Assets is an active private limited company based in Bhubaneswar, , India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 01 October 2012 (14+ years old) and is registered under CIN U70101OR2012PTC016027.
Ethics Assets reported revenue of ₹28.15 Cr for FY 2025 (down 30% YoY).
Ethics Assets has 2 current directors:
- Gopinath Nayak - Managing Director
- Sujata Nayak - Director
Ethics Assets reported a net profit of ₹1.12 Cr (net margin 4%) and EBITDA of ₹2.9 Cr (EBITDA margin 10.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Ethics Assets is -7% over three years and 4% over five years. In the latest year (FY 2025) revenue fell 30%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Ethics Assets is 21AADCE1788R2Z6, registered in Odisha. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Ethics Assets is U70101OR2012PTC016027. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ethics Assets has 3 court cases on record: 2 filed by the company and 1 filed against it. 2 are pending. Most are in the high courts.
Ethics Assets was incorporated on 01 October 2012, making it 14+ years old. It is registered with the Registrar of Companies, Cuttack.
The peers of Ethics Assets by revenue are Green Orbit Real Estate Development Private Limited, Akshat Apartments Private Limited, Rudraksh Developers Private Limited, Zuari Infraworld India Limited, Aastha Infracity Limited and 5 more, all in the Real Estate industry (Builders and Developers).
Gopinath Nayak was appointed as Managing Director on 01 Oct 2012. Sujata Nayak was appointed as Director on 01 Oct 2012.