About Garware Fulflex India Private Limited
Data last updated:
Garware Fulflex India Private Limited is a foreign private limited company based in Mumbai, Maharashtra, India, a subsidiary of Garware Fulflex International Pte Ltd. It operates in the rubber-based products segment of the manufacturing sector. It was incorporated on 30 March 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U25205MH2020FTC339169. Its GSTIN is 27AAICG2786J1Z4 (Maharashtra).
The company has an authorised share capital of ₹67.5 Cr and a paid-up capital of ₹60 Cr. It was formerly known as Garware Bestretch India Private Limited. It is led by directors including Ajit Singh Chouhan (Managing Director) and Diya Garware Ibanez (Managing Director).
Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 2A(3) 2 Ndflr Makerbhavanii 18 Vitthaldas Thackareymarg Newmarinelines Churchgate, Mumbai, Maharashtra, India – 400020.
As per the financials filed for FY 2025, the company reported a revenue of ₹783.24 Cr, a growth of 22% compared to the previous year. For the same year it recorded a net profit of ₹74.26 Cr (net margin 9.5%) and EBITDA of ₹127.98 Cr (EBITDA margin 16.3%).
The company has about 286 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Garware Bestretch. As per MCA filings, the company has open charges of ₹60 Cr and satisfied charges of ₹20 Cr on record. Court records list 6 cases involving the company, including 4 filed by the company and 2 filed against it; 4 cases are pending. The company has 1 deal on record (1 rights issue); the latest was in September 2020. Its 8 peer companies in the Manufacturing industry (Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 4 larger and 4 smaller; the largest is J.K. Fenner (India) Limited with revenue of ₹1,554.92 Cr. The company has 7 MSME Form 1 returns on record between 2021 and 2023, listing 206 overdue payments to 54 micro and small suppliers.
For more details, the company can be reached via its website garwarebeil.com.
Company details
Contact details
Garware Fulflex India Private Limited's registered office is in Mumbai, Maharashtra. Its website is garwarebeil.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2A(3) 2 Ndflr Makerbhavanii 18 Vitthaldas Thackareymarg Newmarinelines Churchgate, Mumbai, Maharashtra, India – 400020
- IndustryManufacturing, Rubber-Based Products
To see the full contact details of Garware Fulflex India Private Limited, buy the company report.
- 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
Brands
Garware Fulflex India operates one associated brand: Garware Bestretch. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Contract manufacturing of plastic products is conducted for clients. | garwarebeil.com |
Business activity
The main business activity of Garware Fulflex India is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Garware Fulflex India Private Limited, buy the company report.
Financials of Garware Fulflex India Private Limited
FY 2025 filings availableGarware Fulflex India Private Limited reported revenue of ₹783.24 Cr (up 22% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 22% in the latest year. EBITDA rose 22% 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 |
|---|---|---|---|---|---|
| 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 | ₹127.98 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹74.26 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 16.3% | ||||
| Net Profit Margin | 9.5% | ||||
| 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 | |||||
To see the full financial statements and ratios of Garware Fulflex India Private Limited, buy the company report.
Board of directors of Garware Fulflex India Private Limited
Garware Fulflex India has 6 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Praveen Purushottam Kadle Also directs: Shivakrtih Realtors LLP, Veedol Corporation Limited, Divgi Torqtransfer Systems Limited and 5 more | Director | 10 Mar 2021 | 5 Years 7 Months | Current |
| Anshul Agarwala | Comp. Inc. Oi As Promoter | 30 Mar 2020 | 6 Years 6 Months | Current |
| Ajit Singh Chouhan | Managing Director | 10 Mar 2021 | 5 Years 7 Months | Current |
| Diya Garware Ibanez | Managing Director | 10 Mar 2021 | 5 Years 7 Months | Current |
| Sudhir Rajaram Pitre Also directs: Leafland Agro Tourism Private Limited, Suramex Private Limited, Garware Healthcare India Private Limited and 1 more | Director | 30 Mar 2020 | 6 Years 6 Months | Current |
| Aarik Andres Ibanez | Director | 02 Apr 2025 | 1 Years 6 Months | Current |
Peer comparison
Garware Fulflex India Private Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| J.K. Fenner (India) Limited | ₹1,554.92 Cr (FY 2025) | 15.0% | Madurai, Tamil Nadu, India | |||
| Alp Overseas Private Limited | ₹949.38 Cr (FY 2025) | 11.0% | New Delhi, Delhi, India | |||
| Datwyler Pharma Packaging India Private Limited | ₹884.78 Cr (FY 2025) | 14.0% | Satara, Maharashtra, India | |||
| Oriental Rubber Industries Private Limited | ₹846.18 Cr (FY 2025) | -11.0% | Pune, Maharashtra, India | |||
| Garware Fulflex India Private Limitedthis company | ₹783.24 Cr (FY 2025) | ₹74.26 Cr | 9.5% | 22.0% | 286 | Mumbai, Maharashtra, India |
| Gates India Private Limited | ₹641.72 Cr (FY 2025) | 2.0% | New Delhi, Delhi, India | |||
| Rubfila International Ltd | ₹556.54 Cr (FY 2025) | 17.0% | Palakkad, Kerala, India | |||
| GRP Limited | ₹551.81 Cr (FY 2025) | 19.0% | Ankleshwar, Gujarat, India | |||
| Tinna Rubber and Infrastructure Limited | ₹509.83 Cr (FY 2025) | 40.0% | New Delhi, Delhi, India |
To see the full peer comparison of Garware Fulflex India Private Limited, buy the company report.
Auditor
Garware Fulflex India Private Limited is audited by P G Bhagwat LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| P G Bhagwat LLP | FY 2023 | 101118W/W100682 |
Shareholding
The shareholding of Garware Fulflex India Private Limited is on record for 3 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 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Garware Fulflex India Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 May 2022 | 100576859 | Jp Morgan Chase Bank, N.A. | ₹20 Cr | Open | |
| 03 Jan 2020 | 100319062 | Axis Bank Limited | ₹20 Cr | Open | |
| 16 Apr 2019 | 100267007 | Citi Bank N.A. | ₹20 Cr | Open | |
| 16 Apr 2019 | 100261094 | Standard Chartered Bank | ₹20 Cr | Satisfied |
To see the full charge records of Garware Fulflex India Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Garware Fulflex India Private Limited has 1 deal on record (1 rights issue); the latest was in September 2020.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2020 | Rights issue | ₹5 Cr | Investors: Garware Fulflex International Pte.limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Garware Fulflex India Private Limited has 6 court cases on record: 4 filed by Garware Fulflex India, 2 filed against it. 4 cases are pending and 2 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 0 | 4 |
| District courts | 2 | 2 | 0 |
Cases on record (5 of 6)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Tax appeal | Filed by the company against Deputy Commissioner of Income Tax Circle 1(1)(1), Mumbai | Pending |
| Bombay High Court | Writ petition | Filed by the company against State of Maharashtra | Pending |
| Bombay High Court | Writ petition | Filed by the company against The State of Maharashtra THR. Labour and Industrial Dept. and Ors. | Pending |
| Bombay High Court | Writ petition | Filed by the company against The State of Maharashtra and Ors. | Pending |
| District court, Satara, Maharashtra | Civil suit | Filed against the company by M/S. GB Gummi LLP Through Plant Head Mr S Subbanna | Disposed |
To see the full case history of Garware Fulflex India 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.
MSME payment delays
Garware Fulflex India Private Limited has 7 MSME Form 1 returns on record between 2021 and 2023, listing 206 overdue payments to 54 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 54)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Zylog Elastocomp LLP | |||
| Lotrec Asiapacific Private Limited | |||
| Neeraj Sales and Services | |||
| Siriram Filteration and E | |||
| Printografik Packaging India Private Limited |
To see the full MSME payment records of Garware Fulflex India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Garware Fulflex India has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Garware Healthcare India Private Limited | U74999MH2020PTC340071 |
To see the full group structure of Garware Fulflex India Private Limited, buy the company report.
Employees & EPFO
Garware Fulflex India Private Limited has a workforce of 286 employees on its EPFO records as of Apr 08, 2024, across 2 active EPFO establishments.
GST
Garware Fulflex India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAICG2786J1Z4 | Maharashtra | Active | 23 Apr 2020 |
To see the full GST registrations and return filing status of Garware Fulflex India Private Limited, buy the company report.
Recent activity
Garware Fulflex India Private Limited has 13 board changes on record since 2020: 6 appointments and 7 cessations. The latest: Aarik Andres Ibanez ceased to be Additional Director on 23 Sep 2025.
11 earlier events are in the company report.
Frequently asked questions
Garware Fulflex India is an active foreign private limited company based in Mumbai, Maharashtra, India. The company works in rubber-based products, within the manufacturing industry. It was incorporated on 30 March 2020 (6+ years old) and is registered under CIN U25205MH2020FTC339169.
Garware Fulflex India has 6 current directors:
- Ajit Singh Chouhan - Managing Director
- Diya Garware Ibanez - Managing Director
- Praveen Purushottam Kadle - Director
- Sudhir Rajaram Pitre - Director
- Aarik Andres Ibanez - Director
- Anshul Agarwala - Comp. Inc. Oi As Promoter
The latest financial statements of Garware Fulflex India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 24 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Garware Fulflex India is 27AAICG2786J1Z4, registered in Maharashtra.
The CIN (Corporate Identification Number) of Garware Fulflex India is U25205MH2020FTC339169. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Garware Fulflex India has 6 court cases on record: 4 filed by the company and 2 filed against it. 4 are pending. Most are in the high courts.
Garware Fulflex India was incorporated on 30 March 2020, making it 6+ years old. It is registered with the Registrar of Companies, Mumbai.
Garware Fulflex India has 1 deal on record (1 rights issue); the latest was in September 2020.
The peers of Garware Fulflex India by revenue are J.K. Fenner (India) Limited, Alp Overseas Private Limited, Datwyler Pharma Packaging India Private Limited, Oriental Rubber Industries Private Limited, Gates India Private Limited and 3 more, all in the Manufacturing industry (Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
Aarik Andres Ibanez ceased to be Additional Director on 23 Sep 2025. Aarik Andres Ibanez was appointed as Director on 02 Apr 2025. Avneesh Mishra ceased to be Company Secretary on 28 Sep 2024. Garware Fulflex India has 13 board changes on record in total.
Garware Fulflex India has 7 MSME Form 1 returns on record between 2021 and 2023, listing 206 overdue payments to 54 micro and small suppliers. The latest return was filed on 18 Dec 2023.
Garware Fulflex India can be reached through the website garwarebeil.com. Its registered office is in Mumbai, Maharashtra, India.