About Fine Refiners Limited
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Fine Refiners Limited is a public limited company based in Bhavnagar, Gujarat, India. It operates in the waste management and recycling solutions segment of the environmental services sector. It was incorporated on 16 May 2005 and has been in existence for over 21 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U19200GJ2005PLC046084. Its GSTIN is 24AAACF9949C1ZN (Gujarat).
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹13 Cr. It is led by directors including Amin Rajahusenbhai Vasaya (Managing Director) and Alimizan Aminbhai Vasaya (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 Bhavnagar, Gujarat.
As per the financials filed for FY 2024, the company reported a revenue of ₹113.37 Cr, a growth of 60% compared to the previous year. For the same year it recorded a net profit of ₹2.61 Cr (net margin 2.3%) and EBITDA of ₹5.82 Cr (EBITDA margin 5.1%). Revenue has grown at a compounded annual rate (CAGR) of 19% over three years and 73% over five years.
The company is associated with 1 brand: Fine Refiners. As per MCA filings, the company has open charges of ₹27.3 Cr and satisfied charges of ₹10.5 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 finerefiners.com.
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- Registered AddressOffice No. 105 First Floor Aangi, Arcade Opp. Jawahar Ground Atabhai Road, Bhavnagar, Gujarat, India – 364001
- IndustryEnvironment, Waste Management & Recycling Solutions
- 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
CIN History of Fine Refiners Limited
Fine Refiners has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U19200GJ2005PLC046084, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U19200GJ2005PLC046084 | Current |
| U23209GJ2005PTC046084 | Previous |
| U19200GJ2005PTC046084 | Previous |
Associated Brands with Fine Refiners Limited
Fine Refiners operates one associated brand: Fine Refiners. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Oil recycling and refining services in India. | finerefiners.com |
Business Activity of Fine Refiners Limited
The main business activities of Fine Refiners are manufacturing and trade. In detail, this covers coke and refined petroleum products and wholesale trading. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C5 | Coke and refined petroleum products | Locked |
| G | Trade | G1 | Wholesale Trading | 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.
Board of Directors and KMP of Fine Refiners Limited
Fine Refiners Limited currently reports 5 directors and 1 key managerial person. 10 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Javedabbas Shabbirali Virani Also directs: 1Royal Marine LLP | Company Secretary | 18 Nov 2025 | 0 Years 10 Months | Current |
| Nikunj Mahendrabhai Kanabar Also directs: Kruyal Capital Advisors LLP, Aelea Commodities Limited | Director | 25 Aug 2025 | 1 Years 1 Months | Current |
| Amin Rajahusenbhai Vasaya | Managing Director | 15 Jun 2015 | 11 Years 3 Months | Current |
| Alimizan Aminbhai Vasaya Also directs: Honest9 Energy Private Limited | Whole-Time Director | 24 Jul 2023 | 3 Years 2 Months | Current |
| Chandresh Madhubhai Unagar Also directs: Aelea Commodities Limited, Speciality Medicines Limited | Director | 25 Aug 2025 | 1 Years 1 Months | Current |
| Narjisbanu Aminbhai Vasaya | Director | 14 Jul 2025 | 1 Years 2 Months | Current |
Financials of Fine Refiners Limited FY 2025 filings available
Fine Refiners Limited reported revenue of ₹113.37 Cr (up 60% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Fine Refiners Limited
Revenue has grown at a compounded annual rate (CAGR) of 73% over five years, including 60% growth in the latest year. EBITDA rose 9% 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 Fine Refiners Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
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| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹5.82 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹2.61 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 | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Fine Refiners Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 5.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 2.3% | •••• | •••• | •••• | •••• |
| 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 Fine Refiners 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.
Charges & Borrowings of Fine Refiners Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 27 Nov 2023 | Axis Bank Limited | ₹27.3 Cr | Open |
| 11 Aug 2021 | Others | ₹9 Cr | Satisfied |
| 26 Nov 2019 | Axis Bank Limited | ₹1.5 Cr | Satisfied |
Total charge records: 3 View all charges
Employees and EPFO Compliance at Fine Refiners Limited
Employment history and EPFO contributions of people linked to Fine Refiners.
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.
GST Compliance of Fine Refiners Limited
Fine Refiners has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACF9949C1ZN | 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.
Credit Ratings, Litigation & Regulatory Alerts for Fine Refiners 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 Fine Refiners 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 Fine Refiners 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.
MCA Filings & Documents of Fine Refiners 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.
Recent Activity on Fine Refiners Limited
Frequently Asked Questions about Fine Refiners Limited
Fine Refiners is an active public limited company based in Bhavnagar, Gujarat, India. The company works in waste management and recycling solutions, within the environment industry. It was incorporated on 16 May 2005 (21+ years old) and is registered under CIN U19200GJ2005PLC046084.
Fine Refiners reported revenue of ₹113.37 Cr for FY 2024 (up 60% YoY).
Fine Refiners has 6 current directors and KMP:
- Amin Rajahusenbhai Vasaya - Managing Director
- Alimizan Aminbhai Vasaya - Whole-Time Director
- Nikunj Mahendrabhai Kanabar - Director
- Chandresh Madhubhai Unagar - Director
- Narjisbanu Aminbhai Vasaya - Director
- Javedabbas Shabbirali Virani - Company Secretary
Fine Refiners reported a net profit of ₹2.61 Cr (net margin 2.3%) and EBITDA of ₹5.82 Cr (EBITDA margin 5.1%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Fine Refiners is 19% over three years and 73% over five years. In the latest year (FY 2024) revenue rose 60%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Fine Refiners is 24AAACF9949C1ZN, registered in Gujarat.
The CIN (Corporate Identification Number) of Fine Refiners is U19200GJ2005PLC046084. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fine Refiners was incorporated on 16 May 2005, making it 21+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Fine Refiners can be reached through the website finerefiners.com. Its registered office is in Bhavnagar, Gujarat, India.