About Sudarshan Gujarat Mfg Private Limited
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Sudarshan Gujarat Mfg Private Limited is a private limited company based in Vadodara, Gujarat, India, a subsidiary of Heubach Holding S.A.R.L. It operates in the dyes and pigments segment of the chemicals and materials sector. It was incorporated on 28 September 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24110GJ1993PTC033372. Its GSTIN is 24AAACH2578P1Z7 (Gujarat). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹45 Cr and a paid-up capital of ₹8.81 Cr. It is led by directors including Dinesh Kumar Rana (Whole-Time Director) and Himanshu Jayantilal Trivedi.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 601 6th Floor The Baroda Crossway Akota Dandia Bazar Road, Vadodara, Gujarat, India – 390001.
As per the financials filed for FY 2025, the company reported a revenue of ₹673.59 Cr, a decline of 14% compared to the previous year. For the same year it recorded a net loss of ₹264.83 Cr (net margin -39.3%) and EBITDA of -₹184.67 Cr (EBITDA margin -27.4%). Revenue has declined at a compounded annual rate (CAGR) of 11% over three years.
The company has about 391 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary and 1 joint venture.
As per MCA filings, the company has open charges of ₹147 Cr and satisfied charges of ₹292.4 Cr on record. The company has 6 deals on record (3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹39.48 Cr; the latest was in March 2023. Its 7 peer companies in the Chemicals industry (Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 3 smaller; the largest is Kiri Industries Limited with revenue of ₹854.9 Cr. The company has 19 MSME Form 1 returns on record between 2018 and 2024, listing 3,195 overdue payments to 384 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website heubach.com.
Company details
CIN history
Sudarshan Gujarat Mfg has one previous CIN (Corporate Identification Number): U24110GJ1997PTC033372. The current CIN is U24110GJ1993PTC033372, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24110GJ1993PTC033372 | Current |
| U24110GJ1997PTC033372 | Previous |
Contact details
Sudarshan Gujarat Mfg Private Limited's registered office is in Vadodara, Gujarat. Its website is heubach.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address601 6th Floor The Baroda Crossway Akota Dandia Bazar Road, Vadodara, Gujarat, India – 390001
- IndustryChemicals and Materials, Dyes & Pigments, Colorants
To see the full contact details of Sudarshan Gujarat Mfg 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
Business activity
The main business activity of Sudarshan Gujarat Mfg 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 Sudarshan Gujarat Mfg Private Limited, buy the company report.
Financials of Sudarshan Gujarat Mfg Private Limited
FY 2025 filings availableSudarshan Gujarat Mfg Private Limited reported revenue of ₹673.59 Cr (down 14% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 11% over three years, including a 14% fall in the latest year. EBITDA fell 754% 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 | -₹184.67 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹264.83 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 | -27.4% | ||||
| Net Profit Margin | -39.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Board of directors and KMP of Sudarshan Gujarat Mfg Private Limited
Sudarshan Gujarat Mfg Private Limited currently reports 6 directors and 1 key managerial person. 14 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dinesh Kumar Rana | Whole-Time Director | 01 Apr 2016 | 10 Years 6 Months | Current |
| Ashish Vij Also directs: Sudarshan Chemical Industries Limited | Additional Director | 02 Feb 2026 | 0 Years 8 Months | Current |
| Ninad Vishwanath Awachat | Company Secretary | 11 Dec 2025 | 0 Years 10 Months | Current |
| Himanshu Jayantilal Trivedi Also directs: Energy-Mission Machineries (India) Limited | Director | 03 Apr 2025 | 1 Years 6 Months | Current |
| Nilkanth Jayant Natu Also directs: Sudarshan Dahej Mfg Private Limited, Rieco Industries Limited | Director | 03 Apr 2025 | 1 Years 6 Months | Current |
| Shivalika Arvind Raje Also directs: Rieco Industries Limited, Sudarshan CSR Foundation | Director | 03 Apr 2025 | 1 Years 6 Months | Current |
Peer comparison
Sudarshan Gujarat Mfg Private Limited is compared with the 7 companies closest to it by revenue in the Chemicals industry (Dyes and Pigments), 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 |
|---|---|---|---|---|---|---|
| Kiri Industries Limited | ₹854.9 Cr (FY 2025) | 15.0% | Ahmedabad, Gujarat, India | |||
| Shree Pushkar Chemicals & Fertilisers Limited | ₹817.05 Cr (FY 2025) | 11.0% | Mumbai, Maharashtra, India | |||
| Spectrum Dyes and Chemicals Private Limited | ₹760.39 Cr (FY 2025) | -5.0% | Mumbai, Maharashtra, India | |||
| Ultramarine & Pigments Limited | ₹707.1 Cr (FY 2025) | 24.0% | Mumbai, Maharashtra, India | |||
| Sudarshan Gujarat Mfg Private Limitedthis company | ₹673.59 Cr (FY 2025) | -₹264.83 Cr | -39.3% | -14.0% | 391 | Vadodara, Gujarat, India |
| Bhageria Industries Limited | ₹601.59 Cr (FY 2025) | 18.0% | Mumbai, Maharashtra, India | |||
| Hi- Tech Inks Private Limited | ₹576.56 Cr (FY 2025) | 16.0% | Vapi, Gujarat, India | |||
| Asahi Songwon Colors Limited | ₹566.4 Cr (FY 2025) | 32.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Auditor
Sudarshan Gujarat Mfg Private Limited is audited by BSR & ASSOCIATES LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BSR & ASSOCIATES LLP | FY 2023 | 116231WW-100024 |
Shareholding
The shareholding of Sudarshan Gujarat Mfg 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 Sudarshan Gujarat Mfg Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Jan 2012 | 10330075 | Axis Bank Limited | ₹40 Cr | Open | |
| 30 Jun 2010 | 10288540 | Hdfc Bank Limited | ₹40 Cr | Open | |
| 09 May 2008 | 10113490 | Idbi Bank Limited | ₹67 Cr | Open | |
| 23 Mar 2012 | 10355376 | Idbi Trusteeship Services Limited | ₹46.54 Cr | Satisfied | |
| 14 Jul 2011 | 10300371 | Idbi Trusteeship Services Limited | ₹46.54 Cr | Satisfied |
To see the full charge records of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Total charge records: 17 View all charges
Deals & funding
Sudarshan Gujarat Mfg Private Limited has 6 deals on record (3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹39.48 Cr; the latest was in March 2023.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Seller: Heubach Holding S.a.r.l |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: Sk Neptune Husky Participations S.a.r.l Seller: an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Heubach Holding S.a.r.l Seller: Hp Colour Cyprus Limited, Pigment Colour Limited |
| Feb 2010 | Funding round | ₹6.98 Cr | Investors: Hp Colour Cyprus Limited |
| Jul 2008 | Funding round | ₹6.7 Lakh | Investors: Pigment Colour Limited, an individual |
To see the full deal history of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Sudarshan Gujarat Mfg Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
Credit ratings & regulatory alerts
Sudarshan Gujarat Mfg Private Limited was last rated by Crisil on 26 Apr 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 26 Apr 2021 |
To see the full credit ratings and regulatory alerts of Sudarshan Gujarat Mfg Private Limited, buy the company report.
MSME payment delays
Sudarshan Gujarat Mfg Private Limited has 19 MSME Form 1 returns on record between 2018 and 2024, listing 3,195 overdue payments to 384 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 384)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Manikaran Analytics Limited |
To see the full MSME payment records of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Sudarshan Gujarat Mfg has 1 subsidiary company and 1 joint venture. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Heubach Pigments Private Limited | U24290GJ2020PTC113524 |
To see the full group structure of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Employees & EPFO
Sudarshan Gujarat Mfg Private Limited has a workforce of 391 employees on its EPFO records as of Aug 03, 2024, across 3 active EPFO establishments.
GST
Sudarshan Gujarat Mfg has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACH2578P1Z7 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sudarshan Gujarat Mfg Private Limited, buy the company report.
Recent activity
Sudarshan Gujarat Mfg Private Limited has 31 board changes on record since 1993: 19 appointments and 12 cessations. The latest: Ashish Vij was appointed as Additional Director on 02 Feb 2026.
61 earlier events are in the company report.
Frequently asked questions
Sudarshan Gujarat Mfg is an active private limited company based in Vadodara, Gujarat, India. The company works in dyes and pigments, within the chemicals and materials industry. It was incorporated on 28 September 1993 (33+ years old) and is registered under CIN U24110GJ1993PTC033372.
Sudarshan Gujarat Mfg has 7 current directors and KMP:
- Dinesh Kumar Rana - Whole-Time Director
- Ashish Vij - Additional Director
- Himanshu Jayantilal Trivedi - Director
- Nilkanth Jayant Natu - Director
- Shivalika Arvind Raje - Director
- Deepak Kumar Joshi - Director
- Ninad Vishwanath Awachat - Company Secretary
The latest financial statements of Sudarshan Gujarat Mfg on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Sudarshan Gujarat Mfg is 24AAACH2578P1Z7, 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 Sudarshan Gujarat Mfg is U24110GJ1993PTC033372. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sudarshan Gujarat Mfg was incorporated on 28 September 1993, making it 33+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Sudarshan Gujarat Mfg has 6 deals on record (3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹39.48 Cr; the latest was in March 2023.
The peers of Sudarshan Gujarat Mfg by revenue are Kiri Industries Limited, Shree Pushkar Chemicals & Fertilisers Limited, Spectrum Dyes and Chemicals Private Limited, Ultramarine & Pigments Limited, Bhageria Industries Limited and 2 more, all in the Chemicals industry (Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Ashish Vij was appointed as Additional Director on 02 Feb 2026. Rajesh Balkrishna Rathi ceased to be Director on 31 Jan 2026. Ninad Vishwanath Awachat was appointed as Company Secretary on 11 Dec 2025. Sudarshan Gujarat Mfg has 31 board changes on record in total.
Sudarshan Gujarat Mfg has 19 MSME Form 1 returns on record between 2018 and 2024, listing 3,195 overdue payments to 384 micro and small suppliers. The latest return was filed on 01 May 2024.
Sudarshan Gujarat Mfg can be reached through the website heubach.com. Its registered office is in Vadodara, Gujarat, India.
The registered office of Sudarshan Gujarat Mfg is at 601 6th Floor The Baroda Crossway Akota Dandia Bazar Road, Vadodara, Gujarat, India – 390001.
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