Indiana Conveyors Private Limited

Indiana Conveyors Private Limited - machinery and equipment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN U29150MH1988PTC049370 Incorporated 26 October 1988 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Private Limited Company machinery and equipment MSME · Small
Data last updated
Revenue · FY 2023
₹49.86 Cr
▼ 21% YoY
Net profit · FY 2023
₹1.88 Cr
Net margin 3.8%
EBITDA · FY 2023
₹3.84 Cr
EBITDA margin 7.7%
Authorised capital
₹2.7 Cr
Registered with MCA
Paid-up capital
₹2.64 Cr
Issued & subscribed
Open charges
₹69 Cr
Satisfied ₹9.44 Cr
Company age
38 yrs
Est. 1988
Employees · EPFO
92
Provident fund records

About Indiana Conveyors Private Limited

Data last updated:

Indiana Conveyors Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Indiana Engineering Works (Bombay) Pvt Ltd. It operates in the material handling and storage equipment segment of the machinery and industrial equipment sector. It was incorporated on 26 October 1988 and has been in existence for over 38 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U29150MH1988PTC049370. Its GSTIN is 27AAACI0330C1ZD (Maharashtra). The company holds 5 GST registrations, of which 2 are active.

The company has an authorised share capital of ₹2.7 Cr and a paid-up capital of ₹2.64 Cr. It is led by directors including Prashant Gobind Hingorani and Manish Dattatray Shedge.

Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Indiana House Makwana Road Off M V Road Marol Naka Andheri East, Mumbai, Maharashtra, India – 400059.

As per the financials filed for FY 2023, the company reported a revenue of ₹49.86 Cr, a decline of 21% compared to the previous year. For the same year it recorded a net profit of ₹1.88 Cr (net margin 3.8%) and EBITDA of ₹3.84 Cr (EBITDA margin 7.7%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 3% over five years.

The company has about 92 employees on its provident fund (EPFO) records.

As per MCA filings, the company has open charges of ₹69 Cr and satisfied charges of ₹9.44 Cr on record. Court records list 30 cases involving the company, including 14 filed by the company and 16 filed against it; 4 cases are pending. The company has 3 deals on record (3 secondary share transfers); the latest was in September 2024. Its 7 peer companies in the Machinery and Equipment industry (Material Handling Equipment), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 4 larger and 3 smaller; the largest is Quality Enviro Engineers Limited with revenue of ₹52.27 Cr. The company has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 32 overdue payments to 13 micro and small suppliers.

Indiana Conveyors Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-26-0086904). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indianagroup.com.

Company details

CIN U29150MH1988PTC049370
Registration Number 049370
Incorporation Date 26 October 1988
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2024
Parent Company Indiana Engineering Works (Bombay) Pvt Ltd
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-26-0086904
Key People
Prashant Gobind Hingorani Director Manish Dattatray Shedge Director Padma Gobind Hingorani Director

Recognitions & Rankings of Indiana Conveyors

MSME (Udyam registered) Ministry of MSME
Category
Small (2024-25)
Udyam number
UDYAM-MH-26-0086904

Contact details

Indiana Conveyors Private Limited's registered office is in Mumbai, Maharashtra. Its website is indianagroup.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    indianagroup.com
  • Registered Address
    Indiana House Makwana Road Off M V Road Marol Naka Andheri East, Mumbai, Maharashtra, India – 400059
  • Industry
    Machinery and Equipment, Material Handling & Storage Equipment

To see the full contact details of Indiana Conveyors Private Limited, buy the company report.

Comprehensive company report
Indiana Conveyors 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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Business activity

The main business activity of Indiana Conveyors is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment

To see the full business activity and turnover split of Indiana Conveyors Private Limited, buy the company report.

Financials of Indiana Conveyors Private Limited

FY 2024 filings available

Indiana Conveyors Private Limited reported revenue of ₹49.86 Cr (down 21% YoY) for FY 2023.

Revenue · FY 2023
₹49.86 Cr ▼ 21%
Net profit · FY 2023
₹1.88 Cr margin 3.8%
EBITDA · FY 2023
₹3.84 Cr margin 7.7%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▼ 21%
3 years · compounded
▼ 3%
5 years · compounded
▲ 3%
EBITDA CAGR growth
1 year
▲ 49%
3 years · compounded
▼ 36%
5 years · compounded
▼ 2%

Revenue fell 21% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 3%. EBITDA rose 49% 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

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
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₹3.84 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹1.88 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

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Profitability
EBITDA Margin7.7%
Net Profit Margin3.8%
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 Indiana Conveyors Private Limited, buy the company report.

Board of directors of Indiana Conveyors Private Limited

Indiana Conveyors has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Prashant Gobind Hingorani
Also directs: Indiana Engineering Works (Bombay) Pvt Ltd, World Engineering Services Private Limited, Indiana Gratings Private Limited and 1 more
Director01 Dec 201015 Years 11 MonthsCurrent
Manish Dattatray Shedge
Also directs: Indiana Gratings Private Limited
Director02 Mar 201511 Years 8 MonthsCurrent
Padma Gobind Hingorani
Also directs: Indiana Engineering Works (Bombay) Pvt Ltd, World Engineering Services Private Limited, Indiana Gratings Private Limited and 1 more
Director21 Dec 20214 Years 10 MonthsCurrent
View all directors

Peer comparison

Indiana Conveyors Private Limited is compared with the 7 companies closest to it by revenue in the Machinery and Equipment industry (Material Handling Equipment), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Quality Enviro Engineers Limited₹52.27 Cr (FY 2025)29.0%Ghaziabad, Uttar Pradesh, India
Kali BMH Systems Private Limited₹52.25 Cr (FY 2025)10.0%Chennai, Tamil Nadu, India
Cranex Limited₹51.96 Cr (FY 2025)-18.0%New Delhi, Delhi, India
Electro Zavod(India)Pvt Ltd₹51.65 Cr (FY 2024)38.0%Kolkata, West Bengal, India
Indiana Conveyors Private Limitedthis company₹49.86 Cr (FY 2023)₹1.88 Cr3.8%-21.0%92Mumbai, Maharashtra, India
Hydrolift Cranes Private Limited₹49.67 Cr (FY 2025)12.0%Raigad, Maharashtra, India
Cooper Elevators India Private Limited₹49.46 Cr (FY 2025)23.0%Chennai, Tamil Nadu, India
Technovision Engineers Private Limited₹48.96 Cr (FY 2025)17.0%Pune, Maharashtra, India

To see the full peer comparison of Indiana Conveyors Private Limited, buy the company report.

Auditor

Indiana Conveyors Private Limited is audited by Rajendra & Co for the financial year 2022.

Auditor firmFinancial yearFirm registration number
Rajendra & CoFY 2022108355W

Shareholding

The shareholding of Indiana Conveyors Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2022FY 2021FY 2020FY 2019FY 2018
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Indiana Conveyors Private Limited, buy the company report.

Charges & borrowings

Open charges
₹69 Cr
Satisfied charges
₹9.44 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹38.00 Cr
Others₹19.00 Cr
Citi Bank N.A.₹12.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
11 Nov 2024101019697Citi Bank N.A.₹12 CrOpen
06 Jun 2019100272013Hdfc Bank Limited₹38 CrOpen
01 Oct 201210379400Others₹19 CrOpen
03 Apr 2017100098447Others₹8.6 LakhSatisfied
10 May 199990240574Central Bank of India₹4.4 CrSatisfied

To see the full charge records of Indiana Conveyors Private Limited, buy the company report.

Total charge records: 7 View all charges

Deals & funding

Indiana Conveyors Private Limited has 3 deals on record (3 secondary share transfers); the latest was in September 2024.

Total deals
3
Secondary share transfers
3

Deals on record (3 of 3)

WhenDealAmountParties
Sep 2024Secondary share transferUndisclosedBuyer: an individual
Seller: an individual
Mar 2021Secondary share transferUndisclosedBuyer: 4 individuals
Seller: an individual
Mar 2017Secondary share transferUndisclosedBuyer: an individual
Seller: an individual

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Indiana Conveyors Private Limited was last rated by Care on 31 Mar 2023.

Rating agencyRated onRating
Care31 Mar 2023

To see the full credit ratings and regulatory alerts of Indiana Conveyors Private Limited, buy the company report.

MSME payment delays

Indiana Conveyors Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 32 overdue payments to 13 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 13)

SupplierAmount dueDue sinceReported on
an individual supplier
Western Steel Agency
V. K. Industrial Corporation Limited
an individual supplier
an individual supplier

To see the full MSME payment records of Indiana Conveyors Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Indiana Conveyors Private Limited has a workforce of 92 employees on its EPFO records as of Apr 09, 2024, across 2 active EPFO establishments.

Employee count
92
Active EPFO establishments
2
Employee growth
1.1%

GST

Indiana Conveyors has 5 GST registrations: 2 active and 3 cancelled or inactive.

Total GSTINs
5
Active
2
Cancelled / inactive
3
GSTINStateStatusRegistered on
27AAACI0330C1ZDMaharashtraActive01 Jul 2017
24AAACI0330C1ZJGujaratActive01 Jul 2017

To see the full GST registrations and return filing status of Indiana Conveyors Private Limited, buy the company report.

Recent activity

Indiana Conveyors Private Limited has 6 board changes on record since 2010: 3 appointments and 3 cessations. The latest: Ashok Vasudev Malik ceased to be Managing Director on 15 Nov 2023.

AGM
Indiana Conveyors Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Charges
A charge with Citi Bank N.A. amounted to Rs. 12.00 Cr with Charge ID 101019697 was registered on 11 Nov 2024.
Filing
Indiana Conveyors Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai I.
Ceased
Ashok Vasudev Malik ceased to be Managing Director.
Charges
A charge with Hdfc Bank Limited of Rs. 38.00 Cr registered on 06 Jun 2019 with Charge ID 100272013 was modified on 14 Oct 2022.
Appointed
Padma Gobind Hingorani was appointed as Director.
Charges
A charge registered on 03 Apr 2017 via Charge ID 100098447 with Others was fully satisfied on 26 Nov 2021.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 38.00 Cr with Charge ID 100272013 was registered on 06 Jun 2019.
Ceased
Gobind Arjandas Hingorani ceased to be Managing Director.
Ceased
Padma Gobind Hingorani ceased to be Director.
Charges
A charge with Others of Rs. 19.00 Cr registered on 01 Oct 2012 with Charge ID 10379400 was modified on 19 Dec 2018.
Charges
A charge with Others amounted to Rs. 0.09 Cr with Charge ID 100098447 was registered on 03 Apr 2017.

13 earlier events are in the company report.

Frequently asked questions

Indiana Conveyors is an active private limited company based in Mumbai, Maharashtra, India. The company works in material handling and storage equipment, within the machinery and equipment industry. It was incorporated on 26 October 1988 (38+ years old) and is registered under CIN U29150MH1988PTC049370.

Indiana Conveyors has 3 current directors:

The latest financial statements of Indiana Conveyors on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Indiana Conveyors is 27AAACI0330C1ZD, registered in Maharashtra. The company has 5 GST registrations in all, of which 2 are active and 3 are cancelled or inactive. Other active GSTINs include 24AAACI0330C1ZJ (Gujarat).

The CIN (Corporate Identification Number) of Indiana Conveyors is U29150MH1988PTC049370. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Indiana Conveyors has 30 court cases on record: 14 filed by the company and 16 filed against it. 4 are pending. Most are in the high courts.

Indiana Conveyors was incorporated on 26 October 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.

Indiana Conveyors has 3 deals on record (3 secondary share transfers); the latest was in September 2024.

The peers of Indiana Conveyors by revenue are Quality Enviro Engineers Limited, Kali BMH Systems Private Limited, Cranex Limited, Electro Zavod(India)Pvt Ltd, Hydrolift Cranes Private Limited and 2 more, all in the Machinery and Equipment industry (Material Handling Equipment), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).

Ashok Vasudev Malik ceased to be Managing Director on 15 Nov 2023. Padma Gobind Hingorani was appointed as Director on 21 Dec 2021. Gobind Arjandas Hingorani ceased to be Managing Director on 02 Jun 2019. Indiana Conveyors has 6 board changes on record in total.

Yes, Indiana Conveyors is registered as a small enterprise under Udyam registration (number: UDYAM-MH-26-0086904).

Indiana Conveyors has 1 MSME Form 1 return on record for the period ending Mar 2019, listing 32 overdue payments to 13 micro and small suppliers. The latest return was filed on 30 May 2019.