MSME (Udyam registered) Ministry of MSME
- Udyam number
- UDYAM-MP-23-0004422
Harda Pathways Private Limited - infrastructure and utilities in Mhow, Madhya Pradesh, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹65.02 Cr
▼ 40% YoY
Net profit · FY 2025
₹17.6 Cr
Net margin 27.1%
EBITDA · FY 2025
₹35.17 Cr
EBITDA margin 54.1%
Authorised capital
₹67.32 Cr
Registered with MCA
Paid-up capital
₹67.32 Cr
Issued & subscribed
Open charges
₹469.62 Cr
Secured borrowings
Company age
6 yrs
Est. 2020
Employees · EPFO
31
Provident fund records
About Harda Pathways Private Limited
Data last updated:
Harda Pathways Private Limited is a private limited company based in Mhow, Madhya Pradesh, India, a subsidiary of Prakash Asphaltings And Toll Highways (India) Limited. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 16 June 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN U45209MP2020PTC051510. Its GSTIN is 23AAFCH2929F1ZU (Madhya Pradesh).
The company has an authorised share capital of ₹67.32 Cr and a paid-up capital of ₹67.32 Cr. It is led by directors Nipun Agrawal and Saksham Agrawal.
Its last annual general meeting (AGM) was held on 04 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 76 Mall Road Mhow, Madhya Pradesh, India – 453441.
As per the financials filed for FY 2025, the company reported a revenue of ₹65.02 Cr, a decline of 40% compared to the previous year. For the same year it recorded a net profit of ₹17.6 Cr (net margin 27.1%) and EBITDA of ₹35.17 Cr (EBITDA margin 54.1%). Revenue has declined at a compounded annual rate (CAGR) of 1% over three years.
The company has about 31 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹469.62 Cr on record. Court records list 1 case involving the company, including 1 filed against it; 1 case is pending.
Harda Pathways Private Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-MP-23-0004422). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website pathltd.com.
Company details
CIN U45209MP2020PTC051510
Registration Number 051510
Incorporation Date 16 June 2020
ROC Gwalior
Listing Status Unlisted
Company Status Active
Date of Last AGM 04 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Prakash Asphaltings And Toll Highways (India) Limited
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-MP-23-0004422
Recognitions & Rankings of Harda Pathways
Contact details
Harda Pathways Private Limited's registered office is in Mhow, Madhya Pradesh. Its e-mail address is in the company report.
- Email
- Social Media
- Registered Address76 Mall Road Mhow, Madhya Pradesh, India – 453441
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of Harda Pathways Private Limited, buy the company report.
Comprehensive company report
Harda Pathways 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
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Secure checkout · GST invoice included
Business activity
The main business activity of Harda Pathways is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
To see the full business activity and turnover split of Harda Pathways Private Limited, buy the company report.
Financials of Harda Pathways Private Limited
FY 2025 filings availableHarda Pathways Private Limited reported revenue of ₹65.02 Cr (down 40% YoY) for FY 2025.
Revenue · FY 2025
₹65.02 Cr ▼ 40%
Net profit · FY 2025
₹17.6 Cr margin 27.1%
EBITDA · FY 2025
₹35.17 Cr margin 54.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 40%
3 years · compounded
▼ 1%
EBITDA CAGR growth
1 year
▼ 21%
3 years · compounded
▲ 74%
Revenue has declined at a compounded annual rate (CAGR) of 1% over three years, including a 40% fall in the latest year. EBITDA fell 21% 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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| EBITDA | ₹35.17 Cr | ||||
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| Net Profit (PAT) | ₹17.6 Cr | ||||
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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 | 54.1% | ||||
| Net Profit Margin | 27.1% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Harda Pathways Private Limited, buy the company report.
Board of directors and KMP of Harda Pathways Private Limited
Harda Pathways Private Limited currently reports 2 directors and 1 key managerial person. 1 former director has served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nipun Agrawal Also directs: Path Infrabulls Limited Liability Partnership, Path Engineering India Private Limited, Vu-Dynamics Private Limited and 5 more | Director | 16 Jun 2020 | 6 Years 4 Months | Current |
| Saksham Agrawal Also directs: Path Infrabulls Limited Liability Partnership, Path Engineering India Private Limited, Vu-Dynamics Private Limited and 5 more | Director | 16 Jun 2020 | 6 Years 4 Months | Current |
| Hemesh Garg | Company Secretary | 18 May 2024 | 2 Years 5 Months | Current |
Peer comparison
Harda Pathways Private Limited is compared with the 8 companies closest to it by revenue in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Shashi Structural Engineers Private Limited | ₹65.68 Cr (FY 2023) | 28.0% | Pune, Maharashtra, India | |||
| Patel KNR Infrastructures Limited | ₹65.64 Cr (FY 2025) | -51.0% | Mumbai, Maharashtra, India | |||
| Sant Gadge Baba Infra Private Limited | ₹65.57 Cr (FY 2024) | 57.0% | Buldhana, Maharashtra, India | |||
| SSR Crest Engineers and Constructions Limited | ₹65.48 Cr (FY 2025) | -34.0% | Hyderabad, Telangana, India | |||
| Nagaur Mukundgarh Highways Private Limited | ₹65.31 Cr (FY 2025) | -23.0% | Udaipur, Rajasthan, India | |||
| Harda Pathways Private Limitedthis company | ₹65.02 Cr (FY 2025) | ₹17.6 Cr | 27.1% | -40.0% | Mhow, Madhya Pradesh, India | |
| Ashok Bricks Industries Private Limited | ₹64.98 Cr (FY 2025) | 173.0% | Jharsuguda, Odisha, India | |||
| Chennai-Ennore Port Road Company Limited. | ₹64.95 Cr (FY 2025) | 6.0% | New Delhi, Delhi, India | |||
| Jayanti Contractors and Engineers Limited | ₹64.82 Cr (FY 2025) | 45.0% | Guwahati, Assam, India |
To see the full peer comparison of Harda Pathways Private Limited, buy the company report.
Auditor
Harda Pathways Private Limited is audited by A.P. Garg & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A.P. Garg & Co. | FY 2023 | 002143C |
Shareholding
The shareholding of Harda Pathways 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 Harda Pathways Private Limited, buy the company report.
Charges & borrowings
Open charges
₹469.62 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Jun 2025 | 101104002 | Others | ₹249.97 Cr | Open | |
| 29 Jun 2021 | 100455012 | Canara Bank | ₹219.65 Cr | Open |
Total charge records: 2 View all charges
Legal cases
Harda Pathways Private Limited has 1 court case on record: 1 filed against it. All case is pending.
Total cases
1
Filed against the company
1
Pending
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 1 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Harda, Madhya Pradesh | Court case (UN CR) | Filed against the company by Union of India Rep by Labour Enforcement Officer | Pending |
To see the full case history of Harda Pathways 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
Harda Pathways Private Limited was last rated by Care on 24 Dec 2025.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 24 Dec 2025 |
To see the full credit ratings and regulatory alerts of Harda Pathways Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Harda Pathways Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Harda Pathways has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AAFCH2929F1ZU | Madhya Pradesh | Active | 24 Jul 2020 |
To see the full GST registrations and return filing status of Harda Pathways Private Limited, buy the company report.
Recent activity
Harda Pathways Private Limited has 3 board changes on record since 2020: 3 appointments. The latest: Hemesh Garg was appointed as Company Secretary on 18 May 2024.
AGM
Harda Pathways Private Limited last Annual general meeting of members was held on 04 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 249.97 Cr with Charge ID 101104002 was registered on 09 Jun 2025.
Filing
Harda Pathways Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Gwalior.
Appointed
Hemesh Garg was appointed as Company Secretary.
Charges
A charge with Canara Bank amounted to Rs. 219.65 Cr with Charge ID 100455012 was registered on 29 Jun 2021.
Appointed
Nipun Agrawal was appointed as Director.
Appointed
Saksham Agrawal was appointed as Director.
Incorporation
16 Jun 2020
Harda Pathways Private Limited was registered on 16 Jun 2020 with Roc Gwalior & aged 6 years 4 months as per MCA records.
Frequently asked questions
Harda Pathways is an active private limited company based in Mhow, Madhya Pradesh, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 16 June 2020 (6+ years old) and is registered under CIN U45209MP2020PTC051510.
Harda Pathways has 3 current directors and KMP:
- Nipun Agrawal - Director
- Saksham Agrawal - Director
- Hemesh Garg - Company Secretary
The latest financial statements of Harda Pathways on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 04 September 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Harda Pathways is 23AAFCH2929F1ZU, registered in Madhya Pradesh.
The CIN (Corporate Identification Number) of Harda Pathways is U45209MP2020PTC051510. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Harda Pathways has 1 court case on record: 1 filed against it. 1 is pending.
Harda Pathways was incorporated on 16 June 2020, making it 6+ years old. It is registered with the Registrar of Companies, Gwalior.
The peers of Harda Pathways by revenue are Shashi Structural Engineers Private Limited, Patel KNR Infrastructures Limited, Sant Gadge Baba Infra Private Limited, SSR Crest Engineers and Constructions Limited, Nagaur Mukundgarh Highways Private Limited and 3 more, all in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Hemesh Garg was appointed as Company Secretary on 18 May 2024. Nipun Agrawal was appointed as Director on 16 Jun 2020. Saksham Agrawal was appointed as Director on 16 Jun 2020.
Yes, Harda Pathways is registered as an MSME under Udyam registration (number: UDYAM-MP-23-0004422).
Harda Pathways can be reached through the website pathltd.com. Its registered office is in Mhow, Madhya Pradesh, India.