About Finar Limited
Data last updated:
Finar Limited was a public limited company based in Ahmedabad, Gujarat, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 02 September 1998.
The company was registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24231GJ1998PLC034615. Its GSTIN is 24AAACF3217D1ZC (Gujarat). The company held 7 GST registrations, all of them active.
The company had an authorised share capital of ₹20 Cr and a paid-up capital of ₹9.75 Cr. It was formerly known as Finar Chemicals Private Limited and Finar Chemicals Limited. It was led by directors including Sunil Punjabi (Managing Director) and James Douglas Steele.
Its last annual general meeting (AGM) was held on 01 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office was at 184 – 185 – 186/P Vill: Chacharwadi Vasna Sarkhej Bavla Highway Sanand, Ahmedabad, Gujarat, India – 382110.
As per the financials filed for FY 2023, the company reported a revenue of ₹331.49 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net profit of ₹62.8 Cr (net margin 18.9%) and EBITDA of ₹91.28 Cr (EBITDA margin 27.5%). Revenue has grown at a compounded annual rate (CAGR) of 23% over three years and 20% over five years.
The company had about 238 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Finar. As per MCA filings, the company had satisfied charges of ₹107.53 Cr on record. Court records list 31 cases involving the company, including 26 filed by the company and 4 filed against it; 2 cases are pending. The company has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in May 2021. Its 10 peer companies in the Chemicals industry (Specialty Chemicals) are compared by revenue, 5 larger and 5 smaller; the largest is Atul Products Limited. The company has 19 MSME Form 1 returns on record between 2018 and 2024, listing 903 overdue payments to 94 micro and small suppliers.
The last known website on record is finarchemicals.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address184 – 185 – 186/P Vill: Chacharwadi Vasna Sarkhej Bavla Highway Sanand, Ahmedabad, Gujarat, India – 382110
- IndustryChemicals and Materials, Specialty Chemicals
- 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 Finar Limited
The main business activity of Finar 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 Finar Limited FY 2023 filings available
Finar Limited reported revenue of ₹331.49 Cr (up 16% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR) of Finar Limited
Revenue has grown at a compounded annual rate (CAGR) of 20% over five years, including 16% growth in the latest year. EBITDA rose 85% 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 Finar Limited
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹331.49 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹91.28 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹62.8 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 Finar Limited
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 27.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 18.9% | •••• | •••• | •••• | •••• |
| 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 Finar 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 Finar Limited
Finar Limited is compared with the companies closest to it by revenue in the Chemicals industry (Specialty Chemicals). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Atul Products Limited | •••• | •••• | •••• | •••• | - | Atul, Gujarat, India |
| Ivax Paper Chemicals Private Limited | •••• | •••• | •••• | •••• | 470 | Bengaluru, Karnataka, India |
| Rajsha Chemicals Private Limited | •••• | •••• | •••• | •••• | 158 | Baroda, Gujarat, India |
| Pioneer Jellice India Private Limited | •••• | •••• | •••• | •••• | - | Madurai, Tamil Nadu, India |
| Ask Chemicals India Private Limited | •••• | •••• | •••• | •••• | 135 | Pune, Maharashtra, India |
| Finar Limited this company | •••• | •••• | •••• | •••• | - | Ahmedabad, Gujarat, India |
| Nitto Denko India Private Limited | •••• | •••• | •••• | •••• | - | Gurgaon, Haryana, India |
| Core Carbons Private Limited | •••• | •••• | •••• | •••• | - | Coimabatore, Tamil Nadu, India |
| Sarex Organics Private Limited | •••• | •••• | •••• | •••• | 1,161 | Mumbai, Maharashtra, India |
| Balaji Speciality Chemicals Limited | •••• | •••• | •••• | •••• | 166 | Solapur, Maharashtra, India |
| Gumpro Drilling Fluids Private Limited | •••• | •••• | •••• | •••• | 162 | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Finar by revenue in the Chemicals industry (Specialty Chemicals), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Finar Limited
Finar Limited is audited by Talati & Talati LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Talati & Talati LLP | 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 and KMP of Finar Limited
Finar Limited currently reports 3 directors and 1 key managerial person. 14 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| James Douglas Steele | Director | 13 May 2021 | 5 Years 4 Months | As last reported |
| Arpit Chandrakant Butala Also directs: Aceto Pharma (India) Private Limited | Cfo | 17 Jun 2019 | 7 Years 3 Months | As last reported |
| Varun Vijay Rao Also directs: Aceto Pharma (India) Private Limited | Director | 13 May 2021 | 5 Years 4 Months | As last reported |
| Sunil Punjabi | Managing Director | 07 Jan 2023 | 3 Years 9 Months | As last reported |
Ownership and Shareholding of Finar 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 Finar Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Feb 2020 | Hdfc Bank Limited | ₹20 Lakh | Satisfied |
| 29 Jan 2009 | Hdfc Bank Limited | ₹2.88 Lakh | Satisfied |
| 24 Nov 2000 | Others | ₹53.65 Cr | Satisfied |
| 12 Sep 2000 | Others | ₹53.65 Cr | Satisfied |
Total charge records: 4 View all charges
Deals & Funding of Finar Limited
Finar Limited has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in May 2021.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2021 | Acquisition | Undisclosed | Buyer: Aceto Pharma (India) Private Limited |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Nov 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Dec 2013 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Girish P Maheshwari Huf, an individual |
Full deal history
All 4 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Finar Limited
Finar Limited has 31 court cases on record: 26 filed by Finar, 4 filed against it, 1 where it is another party. 2 cases are pending and 29 are disposed. Status as checked between 29 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 26 | 4 | 2 |
| High courts | 4 | 0 | 0 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 31)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Civil suit | Filed by the company against M.S. Khurana Engineering Limited | Disposed |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Shreya Life Sciences Private Limited | Disposed |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Bharat Chemicals A Partnership Firm | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Lab Care Corporation | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against an individual | Disposed |
Full case history
All 31 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.
MSME Payment Delays by Finar Limited
Finar Limited has 19 MSME Form 1 returns on record between 2018 and 2024, listing 903 overdue payments to 94 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 94)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Swaraj Secutech Private Limited | •••• | •••• | •••• |
| Suma Chemicals Pvt. Ltd. | •••• | •••• | •••• |
| Muellerunifab Packaging LLP | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 19 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Finar Limited
Finar operates one associated brand: Finar. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of excipients, solvents, lab chemicals, food additives, and other fine chemicals | finarchemicals.com |
Employees and EPFO Compliance at Finar Limited
Finar Limited has a workforce of 238 employees as of Apr 02, 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.
Name History of Finar Limited
Finar has undergone 3 name changes throughout its history. The company was previously known as Finar Chemicals Private Limited, Finar Chemicals Limited, and Finar Chemicals (India) Private Limited. The current legal name is Finar Limited.
| Company Name | Status |
|---|---|
| Finar Limited | Current |
| Finar Chemicals Private Limited | Previous |
| Finar Chemicals Limited | Previous |
| Finar Chemicals (India) Private Limited | Previous |
Recent Activity on Finar Limited
Finar Limited has 18 board changes on record since 2015: 4 appointments and 14 cessations. The latest: Nitin Singh ceased to be Director on 18 May 2024.
19 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Finar 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.
Subsidiaries & Group Companies of Finar 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 Finar Limited
Finar has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACF3217D1ZC | Gujarat | Active | 01 Jul 2017 |
| 09AAACF3217D1Z4 | Uttar Pradesh | Active | 01 Jul 2017 |
| 27AAACF3217D1Z6 | Maharashtra | Active | 01 Jul 2017 |
| 36AAACF3217D1Z7 | Telangana | 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 Finar 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 Finar Limited
Finar has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Finar was a public limited company based in Ahmedabad, Gujarat, India. The company worked in specialty chemicals, within the chemicals and materials industry. It was incorporated on 02 September 1998 and is registered under CIN U24231GJ1998PLC034615. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Finar was incorporated on 02 September 1998. It is registered with the Registrar of Companies, Ahmedabad.
Finar had 4 directors and KMP:
- Sunil Punjabi - Managing Director
- James Douglas Steele - Director
- Varun Vijay Rao - Director
- Arpit Chandrakant Butala - Cfo
The CIN (Corporate Identification Number) of Finar is U24231GJ1998PLC034615. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Finar is at 184 – 185 – 186P Vill: Chacharwadi Vasna Sarkhej Bavla Highway Sanand, Ahmedabad, Gujarat, India – 382110.
Finar can be reached through the website finarchemicals.com. Its registered office is in Ahmedabad, Gujarat, India.
Finar reported revenue of ₹331.49 Cr for FY 2023 (up 16% YoY).
Finar has an authorised share capital of ₹20 Cr and a paid-up capital of ₹9.75 Cr.
Finar reported a net profit of ₹62.8 Cr (net margin 18.9%) and EBITDA of ₹91.28 Cr (EBITDA margin 27.5%) for FY 2023, as per its filed financial statements.
The GSTIN of Finar is 24AAACF3217D1ZC, registered in Gujarat. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 09AAACF3217D1Z4 (Uttar Pradesh), 27AAACF3217D1Z6 (Maharashtra), 36AAACF3217D1Z7 (Telangana).
Finar operated in the chemicals and materials industry, in the specialty chemicals segment.