About Ethos Hvac Systems Ltd
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Ethos Hvac Systems Ltd is a public limited company based in Changodar, Gujarat, India. It operates in the industrial compressors and pneumatic systems segment of the machinery and industrial equipment sector. It was incorporated on 14 June 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U51909GJ1995PLC026307. Its GSTIN is 24AAACE4188L1ZG (Gujarat).
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹2 Cr. It is led by directors including Dilip Laxmanbhai Jadawala (Managing Director) and Vishal Dilip Jadawala (Whole-Time Director).
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 501/P Tajpur Road Sarkhej Bavl Road Village Changodar Ta, Sanand, Gujarat, India – 382213.
As per the financials filed for FY 2025, the company reported a revenue of ₹6.71 Cr, a growth of 19% compared to the previous year. For the same year it recorded a net profit of ₹4.23 Lakh (net margin 0.6%) and EBITDA of ₹51.92 Lakh (EBITDA margin 7.7%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 8% 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 ₹9.5 Cr and satisfied charges of ₹11.85 Cr on record. Court records list 7 cases involving the company, including 2 filed by the company and 5 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 ethoshvac.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressPlot No 501/P Tajpur Road Sarkhej Bavl Road Village Changodar Ta, Sanand, Gujarat, India – 382213
- IndustryMachinery and Equipment, Industrial Compressors & Pneumatic Systems
- 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 Ethos Hvac Systems Ltd
The main business activity of Ethos Hvac Systems is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | 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 Ethos Hvac Systems Ltd FY 2025 filings available
Ethos Hvac Systems Ltd reported revenue of ₹6.71 Cr (up 19% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Ethos Hvac Systems Ltd
Revenue has grown at a compounded annual rate (CAGR) of 8% over five years, including 19% growth in the latest year. EBITDA fell 4% 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 Ethos Hvac Systems Ltd
| 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 | ₹51.92 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹4.23 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 Ethos Hvac Systems Ltd
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 7.7% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.6% | •••• | •••• | •••• | •••• |
| 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 Ethos Hvac Systems 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 Ethos Hvac Systems Ltd
Ethos Hvac Systems Ltd is compared with the companies closest to it by revenue in the Machinery and Equipment industry (Compressors). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Balance Air Equipments Private Limited | ₹6.87 Cr (FY 2024) | •••• | •••• | 31.0% | •••• | Rewari, Haryana, India |
| Coolixa Systems (OPC) Private Limited | ₹6.84 Cr (FY 2025) | •••• | •••• | 33.0% | •••• | Kishanganj, Bihar, India |
| Protech Air Systems Private Limited | ₹6.84 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Ahmadabad City, Gujarat, India |
| Hi Trans Services Private Limited | ₹6.77 Cr (FY 2024) | •••• | •••• | -19.0% | •••• | Chennai, Tamil Nadu, India |
| Chirag Refrigeration Pvt Ltd | ₹6.72 Cr (FY 2025) | •••• | •••• | 35.0% | •••• | Rajasthan, India |
| Ethos Hvac Systems Ltd this company | ₹6.71 Cr (FY 2025) | •••• | •••• | 19.0% | •••• | Changodar, Gujarat, India |
| Ishape Appliances Private Limited | ₹6.7 Cr (FY 2021) | •••• | •••• | 66.0% | •••• | Indore, Madhya Pradesh, India |
| Pioneer Pollution Control & Air Systems Pvt Ltd | ₹6.69 Cr (FY 2025) | •••• | •••• | -9.0% | •••• | Mandideep, Madhya Pradesh, India |
| Benaire Engineering Private Limited | ₹6.64 Cr (FY 2024) | •••• | •••• | 28.0% | •••• | Sriperumbudur, Tamil Nadu, India |
| New Leaf Dynamic Technologies Private Limited | ₹6.63 Cr (FY 2024) | •••• | •••• | 43.0% | •••• | Noida, Uttar Pradesh, India |
| Shree Thermocare Private Limited | ₹6.62 Cr (FY 2024) | •••• | •••• | 64.0% | •••• | Pune City, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Ethos Hvac Systems by revenue in the Machinery and Equipment industry (Compressors), 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 Ethos Hvac Systems Ltd
Ethos Hvac Systems Ltd is audited by L. K. SHAH & CO for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| L. K. SHAH & 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 Ethos Hvac Systems Ltd
Ethos Hvac Systems has 3 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dilip Laxmanbhai Jadawala | Managing Director | 14 Jun 1995 | 31 Years 3 Months | Current |
| Vishal Dilip Jadawala | Whole-Time Director | 19 Feb 2007 | 19 Years 7 Months | Current |
| Anjlee Dilipbhai Jadawala | Whole-Time Director | 15 Oct 1995 | 30 Years 11 Months | Current |
Ownership and Shareholding of Ethos Hvac Systems Ltd
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 Ethos Hvac Systems Ltd
| Date | Lender | Amount | Status |
|---|---|---|---|
| 17 Mar 2015 | The Cosmos Co-Op. Bank Ltd. Satellite Branch | ₹25 Lakh | Open |
| 28 Oct 2010 | The Cosmos Co.Op. Bank Ltd. Satellite Branch | ₹5.25 Cr | Open |
| 28 Oct 2010 | Others | ₹4 Cr | Open |
| 26 Dec 2011 | The Costmos Co-Operative Bank Ltd | ₹50 Lakh | Satisfied |
| 03 May 2008 | State Bank of India | ₹4.25 Cr | Satisfied |
Total charge records: 10 View all charges
Legal Cases of Ethos Hvac Systems Ltd
Ethos Hvac Systems Ltd has 7 court cases on record: 2 filed by Ethos Hvac Systems, 5 filed against it. 2 cases are pending and 5 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 5 | 0 |
| High courts | 2 | 0 | 2 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Commercial matter | Filed against the company by Desiccant Rotors International Private Limited | Disposed |
| District court, Central, Delhi | Commercial suit | Filed against the company by Desiccant Rotors International Private Limited | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Spectrum Filtration Private Limited | Disposed |
| High Court of Gujarat | Special civil application | Filed by the company against an individual | Pending |
| High Court of Gujarat | Special civil application | Filed by the company against an individual | Pending |
Full case history
All 7 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 Ethos Hvac Systems Ltd
Ethos Hvac Systems Ltd has a workforce of 16 employees as of Mar 23, 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 Ethos Hvac Systems Ltd
Ethos Hvac Systems Ltd has 5 board changes on record since 1995: 3 appointments and 2 cessations. The latest: Laxmanbhai Chandulal Jadawala ceased to be Director on 03 Oct 2010.
20 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Ethos Hvac Systems Ltd
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 Ethos Hvac Systems Ltd
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
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Subsidiaries & Group Companies of Ethos Hvac Systems Ltd
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 Ethos Hvac Systems Ltd
Ethos Hvac Systems has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACE4188L1ZG | 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 Ethos Hvac Systems Ltd
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 Ethos Hvac Systems Ltd
Ethos Hvac Systems is an active public limited company based in Changodar, Gujarat, India. The company works in industrial compressors and pneumatic systems, within the machinery and equipment industry. It was incorporated on 14 June 1995 (31+ years old) and is registered under CIN U51909GJ1995PLC026307.
Ethos Hvac Systems reported revenue of ₹6.71 Cr for FY 2025 (up 19% YoY).
Ethos Hvac Systems has 3 current directors:
- Dilip Laxmanbhai Jadawala - Managing Director
- Vishal Dilip Jadawala - Whole-Time Director
- Anjlee Dilipbhai Jadawala - Whole-Time Director
Ethos Hvac Systems reported a net profit of ₹4.23 Lakh (net margin 0.6%) and EBITDA of ₹51.92 Lakh (EBITDA margin 7.7%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Ethos Hvac Systems is 15% over three years and 8% over five years. In the latest year (FY 2025) revenue rose 19%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Ethos Hvac Systems is 24AAACE4188L1ZG, registered in Gujarat.
The CIN (Corporate Identification Number) of Ethos Hvac Systems is U51909GJ1995PLC026307. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ethos Hvac Systems has 7 court cases on record: 2 filed by the company and 5 filed against it. 2 are pending. Most are in the district courts.
Ethos Hvac Systems was incorporated on 14 June 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Ethos Hvac Systems by revenue are Balance Air Equipments Private Limited, Coolixa Systems (OPC) Private Limited, Protech Air Systems Private Limited, Hi Trans Services Private Limited, Chirag Refrigeration Pvt Ltd and 5 more, all in the Machinery and Equipment industry (Compressors).
Laxmanbhai Chandulal Jadawala ceased to be Director on 03 Oct 2010. Anjlee Dilipbhai Jadawala ceased to be Director on 01 Sep 2008. Vishal Dilip Jadawala was appointed as Whole-Time Director on 19 Feb 2007. Ethos Hvac Systems has 5 board changes on record in total.