MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2024-25)
- Udyam number
- UDYAM-GJ-01-0098432
HCR Formulations Private Limited - pharma in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹1.37 Cr
▼ 34% YoY
Net loss · FY 2025
₹17.08 Lakh
Net margin -12.5%
EBITDA · FY 2025
-₹5.73 Lakh
EBITDA margin -4.2%
Authorised capital
₹5 Lakh
Registered with MCA
Paid-up capital
₹1.95 Lakh
Issued & subscribed
Company age
24 yrs
Est. 2002
Directors on board
3
As per MCA filings
Active GSTINs
1
GST registered
About HCR Formulations Private Limited
Data last updated:
HCR Formulations Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 27 November 2002 and has been in existence for over 24 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24231GJ2002PTC041588. Its GSTIN is 24AABCH2030F1ZC (Gujarat).
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹1.95 Lakh. It is led by directors including Divyang Vrajlal Shah and Jagrutiben Divyang Shah.
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 C – 14 Shalimar Complexnr Mahalaxmi Panch Rasta Paldi, Ahmedabad, Gujarat, India – 380007.
As per the financials filed for FY 2025, the company reported a revenue of ₹1.37 Cr, a decline of 34% compared to the previous year. For the same year it recorded a net loss of ₹17.08 Lakh (net margin -12.5%) and EBITDA of -₹5.73 Lakh (EBITDA margin -4.2%). Revenue has declined at a compounded annual rate (CAGR) of 16% over three years and 11% over five years.
The company is associated with 1 brand: HCR Ayurveda.
HCR Formulations Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0098432). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hcrayurveda.com.
Company details
CIN U24231GJ2002PTC041588
Registration Number 041588
Incorporation Date 27 November 2002
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Micro
Udyam Registration UDYAM-GJ-01-0098432
Key People
Divyang Vrajlal Shah Director Jagrutiben Divyang Shah Director Kushan Divyangkumar Shah Director Recognitions & Rankings of HCR Formulations
Contact details
HCR Formulations Private Limited's registered office is in Ahmedabad, Gujarat. Its website is hcrayurveda.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressC – 14 Shalimar Complexnr Mahalaxmi Panch Rasta Paldi, Ahmedabad, Gujarat, India – 380007
- IndustryPharma, Drug Formulation & Development
To see the full contact details of HCR Formulations Private Limited, buy the company report.
Comprehensive company report
HCR Formulations 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
Brands
HCR Formulations operates one associated brand: HCR Ayurveda. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ayurvedic product development and health care services in India. | hcrayurveda.com |
Business activity
The main business activity of HCR Formulations is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of HCR Formulations Private Limited, buy the company report.
Financials of HCR Formulations Private Limited
FY 2025 filings availableHCR Formulations Private Limited reported revenue of ₹1.37 Cr (down 34% YoY) for FY 2025.
Revenue · FY 2025
₹1.37 Cr ▼ 34%
Net loss · FY 2025
₹17.08 Lakh margin -12.5%
EBITDA · FY 2025
-₹5.73 Lakh margin -4.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 34%
3 years · compounded
▼ 16%
5 years · compounded
▼ 11%
EBITDA CAGR growth
1 year
▼ 142%
3 years · compounded
▼ 32%
5 years · compounded
▼ 18%
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 34% fall in the latest year. EBITDA fell 142% 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 | -₹5.73 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹17.08 Lakh | ||||
| 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 | -4.2% | ||||
| Net Profit Margin | -12.5% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of HCR Formulations Private Limited, buy the company report.
Board of directors of HCR Formulations Private Limited
HCR Formulations has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Divyang Vrajlal Shah | Director | 27 Nov 2002 | 23 Years 11 Months | Current |
| Jagrutiben Divyang Shah | Director | 27 Nov 2002 | 23 Years 11 Months | Current |
| Kushan Divyangkumar Shah | Director | 30 Mar 2015 | 11 Years 6 Months | Current |
Peer comparison
HCR Formulations Private Limited is compared with the 4 companies closest to it by revenue in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Octune Pharma Solutions Private Limited | ₹1.37 Cr (FY 2018) | 14.0% | Hyderabad, Telangana, India | |||
| HCR Formulations Private Limitedthis company | ₹1.37 Cr (FY 2025) | -₹17.08 Lakh | -12.5% | -34.0% | Ahmedabad, Gujarat, India | |
| Torcium Biotech Private Limited | ₹1.36 Cr (FY 2025) | 6.0% | Jaipur, Rajasthan, India | |||
| Shree Vinayaka Life Sciences Private Limited | ₹1.36 Cr (FY 2025) | -65.0% | Hyderabad, Telangana, India | |||
| Ekvira Formulations Private Limited | ₹1.36 Cr (FY 2020) | 2361.0% | Hyderabad, Telangana, India |
To see the full peer comparison of HCR Formulations Private Limited, buy the company report.
Auditor
HCR Formulations Private Limited is audited by MUKESH & COLLEAGUES for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MUKESH & COLLEAGUES | FY 2019 | 106600W |
Shareholding
The shareholding of HCR Formulations Private Limited is on record for 3 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of HCR Formulations Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving HCR Formulations Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for HCR Formulations Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
HCR Formulations has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCH2030F1ZC | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of HCR Formulations Private Limited, buy the company report.
Recent activity
HCR Formulations Private Limited has 4 board changes on record since 2002: 3 appointments and 1 cessation. The latest: Kushan Divyangkumar Shah ceased to be Additional Director on 30 Sep 2015.
AGM
Hcr Formulations Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Hcr Formulations Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Kushan Divyangkumar Shah ceased to be Additional Director.
Appointed
Kushan Divyangkumar Shah was appointed as Director.
Appointed
Divyang Vrajlal Shah was appointed as Director.
Appointed
Jagrutiben Divyang Shah was appointed as Director.
Incorporation
27 Nov 2002
Hcr Formulations Private Limited was registered on 27 Nov 2002 with Roc Ahmedabad & aged 23 years 11 months as per MCA records.
Frequently asked questions
HCR Formulations is an active private limited company based in Ahmedabad, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 27 November 2002 (24+ years old) and is registered under CIN U24231GJ2002PTC041588.
HCR Formulations has 3 current directors:
- Divyang Vrajlal Shah - Director
- Jagrutiben Divyang Shah - Director
- Kushan Divyangkumar Shah - Director
The latest financial statements of HCR Formulations on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of HCR Formulations is 24AABCH2030F1ZC, registered in Gujarat.
The CIN (Corporate Identification Number) of HCR Formulations is U24231GJ2002PTC041588. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
HCR Formulations was incorporated on 27 November 2002, making it 24+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of HCR Formulations by revenue are Octune Pharma Solutions Private Limited, Torcium Biotech Private Limited, Shree Vinayaka Life Sciences Private Limited, Ekvira Formulations Private Limited, all in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Kushan Divyangkumar Shah ceased to be Additional Director on 30 Sep 2015. Kushan Divyangkumar Shah was appointed as Director on 30 Mar 2015. Divyang Vrajlal Shah was appointed as Director on 27 Nov 2002. HCR Formulations has 4 board changes on record in total.
Yes, HCR Formulations is registered as a micro enterprise under Udyam registration (number: UDYAM-GJ-01-0098432).
HCR Formulations can be reached through the website hcrayurveda.com. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of HCR Formulations is at C – 14 Shalimar Complexnr Mahalaxmi Panch Rasta Paldi, Ahmedabad, Gujarat, India – 380007.