MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-24-0002564
Fives Combustion Systems Private Limited - machinery and equipment in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹143.51 Cr
▲ 79% YoY
Net profit · FY 2025
₹31.6 Cr
Net margin 22%
EBITDA · FY 2025
₹44.6 Cr
EBITDA margin 31.1%
Authorised capital
₹1 Cr
Registered with MCA
Paid-up capital
₹25.01 Lakh
Issued & subscribed
Open charges
₹52.33 Cr
Satisfied ₹6.25 Cr
Company age
45 yrs
Est. 1981
Employees · EPFO
116
Provident fund records
About Fives Combustion Systems Private Limited
Data last updated:
Fives Combustion Systems Private Limited is a private limited company based in Vadodara, Gujarat, India, a subsidiary of Fives India Engineering & Projects Pvt Ltd. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 10 June 1981 and has been in existence for over 45 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U74999GJ1981PTC079214. Its GSTIN is 24AAACC1760A1ZH (Gujarat). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹25.01 Lakh. It was formerly known as Cbl Combustion Systems Private Limited and Coen Bharat Limited. It is led by directors including Rahul Bharatkumar Rajgor and Frederic Gunther Thrum.
Its last annual general meeting (AGM) was held on 22 July 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Dabhasha – Jbr Road Dabhasha Padra, Vadodara, Gujarat, India – 391440.
As per the financials filed for FY 2025, the company reported a revenue of ₹143.51 Cr, a growth of 79% compared to the previous year. For the same year it recorded a net profit of ₹31.6 Cr (net margin 22%) and EBITDA of ₹44.6 Cr (EBITDA margin 31.1%). Revenue has grown at a compounded annual rate (CAGR) of 30% over three years and 20% over five years.
The company has about 116 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹52.33 Cr and satisfied charges of ₹6.25 Cr on record. Court records list 11 cases involving the company, including 10 filed by the company and 1 filed against it. The company has 2 deals on record (2 secondary share transfers); the latest was in January 2012. Its 3 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 1 larger and 2 smaller; the largest is Botil Oil Tools India Private Limited with revenue of ₹144.11 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2022, listing 71 overdue payments to 24 micro and small suppliers.
Fives Combustion Systems Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0002564). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website fivesgroup.com.
Company details
CIN U74999GJ1981PTC079214
Registration Number 079214
Incorporation Date 10 June 1981
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 22 July 2026
Date of Balance Sheet 31 March 2026
Parent Company Fives India Engineering & Projects Pvt Ltd
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-24-0002564
Name history
Fives Combustion Systems has undergone 3 name changes throughout its history. The company was previously known as Cbl Combustion Systems Private Limited, Coen Bharat Limited, and Cbl Combustion Systems Limited. The current legal name is Fives Combustion Systems Private Limited.
| Company Name | Status |
|---|---|
| Fives Combustion Systems Private Limited | Current |
| Cbl Combustion Systems Private Limited | Previous |
| Coen Bharat Limited | Previous |
| Cbl Combustion Systems Limited | Previous |
CIN history
Fives Combustion Systems has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U74999GJ1981PTC079214, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74999GJ1981PTC079214 | Current |
| U74999MH1981PLC024593 | Previous |
| U74999MH1981PTC024593 | Previous |
Key People
Frederic Gunther Thrum Nominee Director Daniel Julien Nominee Director Daniel Marcel Brunelli Brondex Nominee Director Recognitions & Rankings of Fives Combustion Systems
Contact details
Fives Combustion Systems Private Limited's registered office is in Vadodara, Gujarat. Its website is fivesgroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressDabhasha – Jbr Road Dabhasha Padra, Vadodara, Gujarat, India – 391440
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
To see the full contact details of Fives Combustion Systems Private Limited, buy the company report.
Comprehensive company report
Fives Combustion Systems Private Limited - one report that includes everything
- 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Business activity
The main business activity of Fives Combustion Systems is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Fives Combustion Systems Private Limited, buy the company report.
Financials of Fives Combustion Systems Private Limited
FY 2026 filings availableFives Combustion Systems Private Limited reported revenue of ₹143.51 Cr (up 79% YoY) for FY 2025.
Revenue · FY 2025
₹143.51 Cr ▲ 79%
Net profit · FY 2025
₹31.6 Cr margin 22%
EBITDA · FY 2025
₹44.6 Cr margin 31.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 79%
3 years · compounded
▲ 30%
5 years · compounded
▲ 20%
EBITDA CAGR growth
1 year
▲ 70%
3 years · compounded
▲ 53%
5 years · compounded
▲ 39%
Revenue has grown at a compounded annual rate (CAGR) of 20% over five years, including 79% growth in the latest year. EBITDA rose 70% 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | ₹44.6 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹31.6 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 31.1% | ||||
| Net Profit Margin | 22% | ||||
| Return on Equity (ROE) | |||||
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| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Fives Combustion Systems Private Limited, buy the company report.
Board of directors of Fives Combustion Systems Private Limited
Fives Combustion Systems has 4 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Frederic Gunther Thrum | Nominee Director | 09 Jul 2019 | 7 Years 3 Months | Current |
| Daniel Julien | Nominee Director | 15 Sep 2015 | 11 Years 1 Months | Current |
| Daniel Marcel Brunelli Brondex Also directs: Fives India Engineering & Projects Private Limited | Nominee Director | 04 Mar 2014 | 12 Years 7 Months | Current |
| Rahul Bharatkumar Rajgor Also directs: Fives Cail-Kcp Limited | Director | 28 Dec 2018 | 7 Years 9 Months | Current |
Peer comparison
Fives Combustion Systems Private Limited is compared with the 3 companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Botil Oil Tools India Private Limited | ₹144.11 Cr (FY 2025) | 34.0% | New Delhi, Delhi, India | |||
| Fives Combustion Systems Private Limitedthis company | ₹143.51 Cr (FY 2025) | ₹31.6 Cr | 22% | 79.0% | 116 | Vadodara, Gujarat, India |
| Vivant Solutions Private Limited | ₹141.93 Cr (FY 2025) | 55.0% | Chennai, Tamil Nadu, India | |||
| Skye Batteries Private Limited | ₹139.81 Cr (FY 2025) | 1.0% | Pune, Maharashtra, India |
To see the full peer comparison of Fives Combustion Systems Private Limited, buy the company report.
Auditor
Fives Combustion Systems Private Limited is audited by DELOITTE HASKINS & SELLS CHARTERED ACCOUNTANT LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DELOITTE HASKINS & SELLS CHARTERED ACCOUNTANT LLP | FY 2024 | 117364W |
Shareholding
The shareholding of Fives Combustion Systems Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Fives Combustion Systems Private Limited, buy the company report.
Charges & borrowings
Open charges
₹52.33 Cr
Satisfied charges
₹6.25 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Jun 2005 | 80017167 | Canara Bank | ₹52.33 Cr | Open | |
| 27 Aug 2007 | 10099219 | Syndicate Bank | ₹2.15 Cr | Satisfied | |
| 17 Feb 2007 | 10041848 | Syndicate Bank | ₹4.1 Cr | Satisfied |
To see the full charge records of Fives Combustion Systems Private Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Fives Combustion Systems Private Limited has 2 deals on record (2 secondary share transfers); the latest was in January 2012.
Total deals
2
Secondary share transfers
2
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2012 | Secondary share transfer | Undisclosed | Buyer: Fives India Engineering & Projects Private Limited , an individual Seller: 4 individuals |
| May 2010 | Secondary share transfer | Undisclosed | Buyer: Mabula Properties Private Limited Seller: Coen Company Inc |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Fives Combustion Systems Private Limited has 11 court cases on record: 10 filed by Fives Combustion Systems, 1 filed against it. All cases are disposed.
Total cases
11
Filed by the company
10
Filed against the company
1
Disposed
11
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 1 | 0 |
| High courts | 3 | 0 | 0 |
| Supreme Court | 2 | 0 | 0 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Civil suit | Filed by the company against Nagarjuna Oil Corporation Ltd. | Disposed |
| District court, Vadodara, Gujarat | Civil suit | Filed by the company against M/S. Cethar Vessels Ltd | Disposed |
| District court, Vadodara, Gujarat | Civil suit | Filed by the company against Nagarjuna Oil Corporation Ltd. | Disposed |
| District court, Kollam, Kerala | Court case (AOP) | Filed against the company by The Kerala Minerals and Metals Ltd. | Disposed |
| Bombay High Court | Court case (SS) | Filed by the company against India Glycols Ltd. | Disposed |
To see the full case history of Fives Combustion Systems Private Limited, buy the company report.
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.
Credit ratings & regulatory alerts
Fives Combustion Systems Private Limited was last rated by Care on 23 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 23 Mar 2022 |
To see the full credit ratings and regulatory alerts of Fives Combustion Systems Private Limited, buy the company report.
MSME payment delays
Fives Combustion Systems Private Limited has 9 MSME Form 1 returns on record between 2019 and 2022, listing 71 overdue payments to 24 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 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Originate Laser | |||
| United Instrument Services | |||
| an individual supplier | |||
| Allot System Integration Private Limited |
To see the full MSME payment records of Fives Combustion Systems Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Fives Combustion Systems Private Limited has a workforce of 116 employees on its EPFO records as of Nov 07, 2024, across 2 active EPFO establishments.
Employee count
116
Active EPFO establishments
2
Employee growth
8.41%
GST
Fives Combustion Systems has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACC1760A1ZH | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Fives Combustion Systems Private Limited, buy the company report.
Recent activity
Fives Combustion Systems Private Limited has 18 board changes on record since 2008: 4 appointments and 14 cessations. The latest: Frederic Gunther Thrum was appointed as Nominee Director on 09 Jul 2019.
AGM
Fives Combustion Systems Private Limited last Annual general meeting of members was held on 22 Jul 2026 as per latest MCA records.
Filing
Fives Combustion Systems Private Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Charges
A charge with Canara Bank of Rs. 52.33 Cr registered on 08 Jun 2005 with Charge ID 80017167 was modified on 13 Jan 2025.
Appointed
Frederic Gunther Thrum was appointed as Nominee Director.
Ceased
Sreemanta Kumar Dan ceased to be Managing Director.
Ceased
Luigi Russo ceased to be Nominee Director.
Appointed
Rahul Bharatkumar Rajgor was appointed as Director.
Ceased
Alain Laurent Guy ceased to be Nominee Director.
Charges
A charge registered on 27 Aug 2007 via Charge ID 10099219 with Syndicate Bank was fully satisfied on 03 Oct 2015.
Charges
A charge registered on 17 Feb 2007 via Charge ID 10041848 with Syndicate Bank was fully satisfied on 03 Oct 2015.
Appointed
Daniel Julien was appointed as Nominee Director.
Ceased
Martin Jean Hugues Duverne ceased to be Nominee Director.
15 earlier events are in the company report.
Frequently asked questions
Fives Combustion Systems is an active private limited company based in Vadodara, Gujarat, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 10 June 1981 (45+ years old) and is registered under CIN U74999GJ1981PTC079214.
Fives Combustion Systems has 4 current directors:
- Frederic Gunther Thrum - Nominee Director
- Daniel Julien - Nominee Director
- Daniel Marcel Brunelli Brondex - Nominee Director
- Rahul Bharatkumar Rajgor - Director
The latest financial statements of Fives Combustion Systems on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 22 July 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Fives Combustion Systems is 24AAACC1760A1ZH, registered in Gujarat. 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 Fives Combustion Systems is U74999GJ1981PTC079214. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fives Combustion Systems has 11 court cases on record: 10 filed by the company and 1 filed against it. Most are in the district courts.
Fives Combustion Systems was incorporated on 10 June 1981, making it 45+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Fives Combustion Systems has 2 deals on record (2 secondary share transfers); the latest was in January 2012.
The peers of Fives Combustion Systems by revenue are Botil Oil Tools India Private Limited, Vivant Solutions Private Limited, Skye Batteries Private Limited, all in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Frederic Gunther Thrum was appointed as Nominee Director on 09 Jul 2019. Sreemanta Kumar Dan ceased to be Managing Director on 09 Jul 2019. Luigi Russo ceased to be Nominee Director on 22 Mar 2019. Fives Combustion Systems has 18 board changes on record in total.
Yes, Fives Combustion Systems is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-24-0002564).
Fives Combustion Systems has 9 MSME Form 1 returns on record between 2019 and 2022, listing 71 overdue payments to 24 micro and small suppliers. The latest return was filed on 10 Nov 2022.