Indian Borax Ltd
About Indian Borax Ltd
Data last updated:
Indian Borax Ltd is a public limited company based in Vadodara, Gujarat, India. It operates in the industrial chemicals segment of the chemicals and materials sector. It was incorporated on 17 February 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U20119GJ1995PLC024692. Its GSTIN is 33AAACI4317H1ZZ (Tamil Nadu).
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹5.5 Lakh. It is led by directors including Bhavin Kishor Shah and Kishorkumar Shah.
Its last annual general meeting (AGM) was held on 12 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Synergy House Gorwasubhanpura, Vadodara, Gujarat, India – 390023.
As per the financials filed for FY 2025, the company reported a revenue of ₹10.57 Cr, a growth of 51% compared to the previous year. For the same year it recorded a net profit of ₹1.13 Cr (net margin 10.7%) and EBITDA of ₹2.07 Cr (EBITDA margin 19.6%). Revenue has grown at a compounded annual rate (CAGR) of 35% over three years and 57% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Indian Borax has one previous CIN (Corporate Identification Number): U74999GJ1995PLC024692. The current CIN is U20119GJ1995PLC024692, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U20119GJ1995PLC024692 | Current |
| U74999GJ1995PLC024692 | Previous |
Contact details
Indian Borax Ltd's registered office is in Vadodara, Gujarat.
- Registered AddressSynergy House Gorwasubhanpura, Vadodara, Gujarat, India – 390023
- IndustryChemicals and Materials, Industrial Chemicals
- 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 Indian Borax 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 Indian Borax Ltd, buy the company report.
Financials of Indian Borax Ltd
FY 2025 filings availableIndian Borax Ltd reported revenue of ₹10.57 Cr (up 51% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 57% over five years, including 51% growth in the latest year. EBITDA rose 68% 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 | ₹2.07 Cr | ||||
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| Net Profit (PAT) | ₹1.13 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 | 19.6% | ||||
| Net Profit Margin | 10.7% | ||||
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To see the full financial statements and ratios of Indian Borax Ltd, buy the company report.
Board of directors of Indian Borax Ltd
Indian Borax has 4 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bhavin Kishor Shah Also directs: Consolidated Cobalt Chemicals Limited, Base Metal Chemicals Pvt Ltd, Synergy Fertichem Private Limited and 2 more | Director | 02 Apr 2009 | 17 Years 7 Months | Current |
| Kishorkumar Shah Also directs: Consolidated Cobalt Chemicals Limited, Base Metal Chemicals Pvt Ltd, Synergy Fertichem Private Limited and 1 more | Director | 17 Feb 1995 | 31 Years 8 Months | Current |
| Manhar Kothari Also directs: Ontogeny Consultancy Services Private Limited | Director | 14 Dec 2020 | 5 Years 11 Months | Current |
| Sharad Bhaskar Dave Also directs: Consolidated Cobalt Chemicals Limited | Director | 01 Dec 2020 | 5 Years 11 Months | Current |
Peer comparison
Indian Borax Ltd is compared with the 6 companies closest to it by revenue in the Chemicals industry (Industrial Chemicals), 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 |
|---|---|---|---|---|---|---|
| Sudersun Chemical Private Limited | ₹10.7 Cr (FY 2025) | 57.0% | Vadodara, Gujarat, India | |||
| Sona Chem Industries Private Limited | ₹10.63 Cr (FY 2025) | 0.0% | Kolhapur, Maharashtra, India | |||
| Monomer Chemical Industries Private Limited | ₹10.61 Cr (FY 2024) | -75.0% | Thane, Maharashtra, India | |||
| Arcane Specialties Chemicals Private Limited | ₹10.59 Cr (FY 2024) | 299.0% | Mahad, Maharashtra, India | |||
| Asawara Industries Limited | ₹10.58 Cr (FY 2025) | 2543.0% | Himatnagar, Gujarat, India | |||
| Indian Borax Ltdthis company | ₹10.57 Cr (FY 2025) | ₹1.13 Cr | 10.7% | 51.0% | Vadodara, Gujarat, India | |
| Arm Infraestate Private Limited | ₹10.35 Cr (FY 2025) | 6164514.0% | Alwar, Rajasthan, India |
To see the full peer comparison of Indian Borax Ltd, buy the company report.
Legal cases
No court or tribunal cases involving Indian Borax Ltd 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 Indian Borax Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Indian Borax has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACI4317H1ZZ | Tamil Nadu | Active | 03 Jan 2018 |
To see the full GST registrations and return filing status of Indian Borax Ltd, buy the company report.
Recent activity
Indian Borax Ltd has 10 board changes on record since 1995: 4 appointments and 6 cessations. The latest: Manhar Kothari ceased to be Additional Director on 23 Sep 2021.
1 earlier event is in the company report.
Frequently asked questions
Indian Borax is an active public limited company based in Vadodara, Gujarat, India. The company works in industrial chemicals, within the chemicals and materials industry. It was incorporated on 17 February 1995 (31+ years old) and is registered under CIN U20119GJ1995PLC024692.
Indian Borax has 4 current directors:
- Bhavin Kishor Shah - Director
- Kishorkumar Shah - Director
- Manhar Kothari - Director
- Sharad Bhaskar Dave - Director
The latest financial statements of Indian Borax on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 12 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Indian Borax is 33AAACI4317H1ZZ, registered in Tamil Nadu.
The CIN (Corporate Identification Number) of Indian Borax is U20119GJ1995PLC024692. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indian Borax was incorporated on 17 February 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Indian Borax by revenue are Sudersun Chemical Private Limited, Sona Chem Industries Private Limited, Monomer Chemical Industries Private Limited, Arcane Specialties Chemicals Private Limited, Asawara Industries Limited and 1 more, all in the Chemicals industry (Industrial Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Manhar Kothari ceased to be Additional Director on 23 Sep 2021. Sharad Bhaskar Dave ceased to be Additional Director on 23 Sep 2021. Manhar Kothari was appointed as Director on 14 Dec 2020. Indian Borax has 10 board changes on record in total.
The registered office of Indian Borax is at Synergy House Gorwasubhanpura, Vadodara, Gujarat, India – 390023.
Indian Borax operates in the chemicals and materials industry, in the industrial chemicals segment.
The compliance status of Indian Borax is compliant as of 19 September 2026. The company is actively filing with the Registrar of Companies.
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