Indo Gulf Industries Limited - aerospace, maritime and defense in Delhi, India. FY 2026 financials & compliance.
CIN L74900DL1981PLC011425 Incorporated 05 March 1981 ROC Delhi HQ Delhi, India
Active Listed - BSE: 506945 Public Limited Company aerospace, maritime and defense MSME · Medium
Market Cap
₹3.28 Cr
IGLFXPL-B · BSE
Share Price
₹3.43
0.00% today
Revenue
₹219 Cr
FY 2025-26 · -11.2% YoY
EBITDA
₹3.98 Cr
Margin 1.8%
Net Profit
−₹0.69 Cr
FY 2025-26 · -110.5% YoY
ROE
-6.4%
ROCE 3.6%
Debt / Equity
1.17
Interest cover 143.3x
Authorised capital
₹20 Cr
Registered with MCA

About Indo Gulf Industries Limited

Data last updated:

Indo Gulf Industries Limited is a public limited company based in Delhi, India, a subsidiary of Ganesh Explosives Private Limited. It operates in the defence accessories and components segment of the aerospace, maritime and defence sector. It was incorporated on 05 March 1981 and has been in existence for over 45 years.

The company is registered with the Registrar of Companies (ROC), Delhi, under CIN L74900DL1981PLC011425. Its GSTIN is 09AAACI0120L2ZV (Uttar Pradesh). The company holds 7 GST registrations, of which 2 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 506945.

The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹3.46 Cr. It was formerly known as Indo Gulf Explosives Limited and Igil Indo Gulf Industries Limited. It is led by directors including Gaurav Kumar (Managing Director) and Shivani Naithani.

Its last annual general meeting (AGM) was held on 30 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 4237/11 Iind Floor Narendra Bhawan 1 Ansari Road Daryaganj, Delhi, India – 110001.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹219.35 Cr, a decline of 11.2% compared to the previous year. For the same year it recorded a net loss of ₹69 Lakh (net margin -0.3%) and EBITDA of ₹3.98 Cr (EBITDA margin 1.8%). The net worth stands at ₹13.02 Cr (down 5.4% YoY). Total assets are valued at ₹35.4 Cr (up 55.3% YoY).

The company has about 4 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Indo Gulf Industries. As per MCA filings, the company has open charges of ₹35 Cr and satisfied charges of ₹168.76 Cr on record. Court records list 83 cases involving the company, including 60 filed by the company and 24 filed against it; 6 cases are pending. The company has 3 deals on record (2 secondary share transfers, 1 acquisition); the latest was in January 2017.

Indo Gulf Industries Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-UK-05-0006380). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indogulfind.com.

Company details

CIN L74900DL1981PLC011425
Registration Number 011425
Incorporation Date 05 March 1981
ROC Delhi
Listing Status Listed - Listed on BSE (506945)
Company Status Active
Parent Company Ganesh Explosives Private Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-UK-05-0006380

Name history

Indo Gulf Industries has undergone 2 name changes throughout its history. The company was previously known as Indo Gulf Explosives Limited, and Igil Indo Gulf Industries Limited. The current legal name is Indo Gulf Industries Limited.

Company NameStatus
Indo Gulf Industries LimitedCurrent
Indo Gulf Explosives LimitedPrevious
Igil Indo Gulf Industries LimitedPrevious

CIN history

Indo Gulf Industries has one previous CIN (Corporate Identification Number): L99999DL1981PLC011425. The current CIN is L74900DL1981PLC011425, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L74900DL1981PLC011425Current
L99999DL1981PLC011425Previous

Recognitions & Rankings of Indo Gulf Industries

MSME (Udyam registered) Ministry of MSME
Category
Medium (2023-24)
Udyam number
UDYAM-UK-05-0006380

Contact details

Indo Gulf Industries Limited's registered office is in Delhi, Delhi. Its website is indogulfind.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Registered Address
    4237/11 Iind Floor Narendra Bhawan 1 Ansari Road Daryaganj, Delhi, India – 110001
  • Industry
    Aerospace, Maritime and Defense, Defence Accessories & Components

To see the full contact details of Indo Gulf Industries Limited, buy the company report.

Comprehensive company report
Indo Gulf Industries 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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Brands

Indo Gulf Industries operates one associated brand: Indo Gulf Industries. Each brand links to its own profile.

BrandDescriptionWebsite
Limited information availableindogulfind.com

Business activity

The main business activity of Indo Gulf Industries is manufacturing. In detail, this covers metal and metal products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC7Metal and metal products

To see the full business activity and turnover split of Indo Gulf Industries Limited, buy the company report.

Financials of Indo Gulf Industries Limited

FY 2025-26 filings available

Indo Gulf Industries Limited reported revenue of ₹219.35 Cr (down 11.2% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹219 Cr
-11.2% YoY
EBITDA
₹3.98 Cr
-66.0% YoY
Profit After Tax
−₹0.69 Cr
-110.5% YoY
Net Worth
₹13.02 Cr
-5.4% YoY
Total Assets
₹35.40 Cr
+55.3% YoY
Total Debt
₹22.38 Cr
+147.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue21924717920714670.7053.75
Revenue growth-11.2%+37.8%-13.4%+42.2%+105.8%+31.5%-
EBITDA3.9811.693.967.942.790.38(1.60)
EBITDA margin+1.8%+4.7%+2.2%+3.8%+1.9%+0.5%-3.0%
Profit before tax0.069.062.266.781.820.580.35
Net profit(0.69)6.551.486.441.630.420.21
Net profit margin-0.3%+2.7%+0.8%+3.1%+1.1%+0.6%+0.4%
EPS (₹)(0.44)6.831.546.731.690.440.21
Balance sheet
Total assets35.4022.7919.7817.2112.0211.539.28
Net worth13.0213.767.225.74(0.70)(2.32)(2.74)
Total debt22.389.0412.5611.4812.7213.8512.02
Cash & bank0.840.832.602.902.871.050.34
Net working capital(17.07)(21.27)(13.50)(4.28)(2.38)1.220.41
Cash flow
Cash from operations(1.01)17.3015.189.866.73(1.00)5.45
Cash from investing(12.18)(13.69)(13.68)(8.45)(4.95)(2.25)(2.29)
Cash from financing12.69(3.78)14.42(1.52)(1.46)3.24(3.28)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue45.6954.0248.1647.2269.9671.3761.1251.66
Revenue growth (YoY)-34.7%-24.3%-21.2%-8.6%+11.3%---
Other income0.170.070.070.110.100.230.070.08
Total expenses45.7950.8852.2845.8866.4970.5557.5848.74
EBITDA(0.10)3.14(4.12)1.343.470.823.542.92
EBITDA margin-0.2%+5.8%-8.6%+2.8%+5.0%+1.1%+5.8%+5.7%
Depreciation0.911.300.690.670.651.240.460.41
Interest1.620.460.090.120.130.180.130.03
Profit before tax(2.46)1.45(4.83)0.662.79(0.37)3.022.56
Tax0.000.37(1.22)(0.02)1.75(0.17)0.760.83

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 13 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue45.6954.0248.1647.2269.9671.3761.1251.66
Revenue growth (YoY)-34.7%-24.3%-21.2%-8.6%+11.3%---
Other income0.170.070.070.110.100.230.070.08
Total expenses45.7950.8852.2845.8866.4970.5557.5848.74
EBITDA(0.10)3.14(4.12)1.343.470.823.542.92
EBITDA margin-0.2%+5.8%-8.6%+2.8%+5.0%+1.1%+5.8%+5.7%
Depreciation0.911.300.690.670.651.240.460.41
Interest1.620.460.090.120.130.180.130.03
Profit before tax(2.46)1.45(4.83)0.662.79(0.37)3.022.56
Tax0.000.37(1.22)(0.02)1.75(0.17)0.760.83
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue21924717920714670.7053.75
Revenue growth-11.2%+37.8%-13.4%+42.2%+105.8%+31.5%-
Other income0.350.430.510.360.241.272.66
Total expenses21523517519914370.3255.35
Employee cost8.687.475.644.613.912.282.04
EBITDA3.9811.693.967.942.790.38(1.60)
EBITDA margin+1.8%+4.7%+2.2%+3.8%+1.9%+0.5%-3.0%
Depreciation3.312.491.521.210.810.680.53
Interest0.960.570.690.310.400.390.18
Profit before tax0.069.062.266.781.820.580.35
Tax0.472.510.780.340.190.160.14
Net profit(0.69)6.551.486.441.630.420.21
Net profit margin-0.3%+2.7%+0.8%+3.1%+1.1%+0.6%+0.4%
EPS (₹)(0.44)6.831.546.731.690.440.21
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital3.463.463.463.463.463.463.46
Reserves & surplus9.5610.303.762.28(4.16)(5.78)(6.20)
Shareholders' funds (net worth)13.0213.767.225.74(0.70)(2.32)(2.74)
Secured loans1.260.450.870.390.440.000.00
Unsecured loans21.128.5911.6911.0912.2813.8512.02
Total debt22.389.0412.5611.4812.7213.8512.02
Total liabilities--19.7817.2112.0211.539.28
Assets
Gross block60.8649.8036.7224.8917.4412.0210.09
Net block49.7141.8631.2720.9614.7210.128.86
Capital work in progress5.054.023.391.410.260.580.27
Investments0.000.000.000.000.000.000.00
Inventories14.533.934.774.883.513.642.19
Sundry debtors2.221.452.111.303.031.481.84
Cash & bank balances0.840.832.602.902.871.050.34
Loans & advances23.834.703.343.871.724.445.39
Total current assets41.4210.9112.8212.9511.1310.619.76
Total current liabilities58.4932.1826.3217.2313.519.399.35
Net working capital(17.07)(21.27)(13.50)(4.28)(2.38)1.220.41
Total assets35.4022.7919.7817.2112.0211.539.28
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.830.990.000.600.260.280.40
Net cash from operating activities(1.01)17.3015.189.866.73(1.00)5.45
Net cash from investing activities(12.18)(13.69)(13.68)(8.45)(4.95)(2.25)(2.29)
Net cash from financing activities12.69(3.78)14.42(1.52)(1.46)3.24(3.28)
Net change in cash(0.50)(0.16)15.92(0.11)0.32(0.01)(0.12)
Closing cash0.840.832.602.902.871.050.34
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-11.2%+37.8%-13.4%+42.2%+105.8%+31.5%-
EBITDA growth-66.0%+195.2%-50.1%+184.6%+634.2%+123.8%-
PBT growth-99.3%+300.9%-66.7%+272.5%+213.8%+65.7%+9998.0%
Net income growth-110.5%+342.6%-77.0%+295.1%+288.1%+100.0%-
Revenue CAGR (3Y)+2.0%+19.3%+36.4%+56.7%+121.1%--
EBITDA CAGR (3Y)-20.6%+61.2%+118.4%---+43.6%
Profitability & leverage
Net income margin-0.2%+2.7%+0.8%+3.1%+1.1%+0.6%+0.4%
Return on capital employed+3.6%+45.2%+16.0%+42.5%+13.3%+5.9%+4.4%
Return on net worth-6.4%+81.9%+37.2%+306.7%+168.8%+44.8%-8.9%
Debt / equity1.171.031.854.800.000.000.00
Long-term debt / equity0.970.851.383.420.000.000.00
Interest cover143.286.2028.284.6120.20-130.00-8.45
Efficiency & per share
Fixed asset turnover3.965.715.829.789.886.405.90
Inventory turnover23.7656.7937.1549.3340.7024.2531.99
Debtors turnover119.54138.78105.1395.5964.5342.5948.21
EPS (₹)(0.44)6.831.546.731.690.440.21
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)11.0011.764.933.39(3.34)(5.04)(5.48)

To see the full year-wise statements and ratios of Indo Gulf Industries Limited, buy the company report.

Board of directors of Indo Gulf Industries Limited

Indo Gulf Industries has 4 current directors and 21 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Shivani NaithaniDirector12 Jul 20179 Years 4 MonthsCurrent
Ashok SarkarDirector27 Jul 20179 Years 3 MonthsCurrent
Rajesh JainDirector14 Dec 201312 Years 10 MonthsCurrent
Gaurav KumarManaging Director14 Mar 20224 Years 7 MonthsCurrent

Auditor

Indo Gulf Industries Limited is audited by Hemant Arora & Co. LLP for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Hemant Arora & Co. LLPFY 2023002141C

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 54.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 1.20% and retail and other public shareholders hold 44.80%.

Promoters: 54.00%DII (Domestic Institutional): 1.20%Retail & Others: 44.80%
Sep 2026
QUARTER
54.00% Promoters
1.20% DII (Domestic Institutional)
44.80% Retail & Others
Promoter holding - history
Now 54.00% · Sep 2026High 54.00% · Dec 2025Low 54.00% · Dec 2025
53%53.5%54%54.5%55%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 54.00%Mar 2026: 54.00%Jun 2026: 54.00%Sep 2026: 54.00%54.00%54.00%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters54.00%54.00%54.00%54.00%
Public46.00%46.00%46.00%46.00%

Charges & borrowings

Open charges
₹35 Cr
Satisfied charges
₹168.76 Cr
Breakdown by lending institutions
Axis Bank Limited₹25.00 Cr
Others₹10.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
07 Mar 2026101284224Axis Bank Limited₹25 CrOpen
10 Dec 2024101017106Others₹10 CrOpen
20 Dec 2023100869900Hdfc Bank Limited₹22.07 LakhSatisfied
01 Jul 200810112434State Bank of India₹2.3 CrSatisfied
16 May 200810103981State Bank of India₹33.2 CrSatisfied

To see the full charge records of Indo Gulf Industries Limited, buy the company report.

Total charge records: 27 View all charges

Deals & funding

Indo Gulf Industries Limited has 3 deals on record (2 secondary share transfers, 1 acquisition); the latest was in January 2017.

Total deals
3
Secondary share transfers
2
Acquisition
1

Deals on record (3 of 3)

WhenDealAmountParties
Jan 2017Acquisition₹20.5 LakhBuyer: Ganesh Explosives Private Limited
Jan 2007Secondary share transferUndisclosedBuyer: Balrampur Chini Mills Ltd
Dec 2006Secondary share transferUndisclosedBuyer: Balrampur Chini Mills Ltd

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

MSME payment delays

No delayed payments to MSME suppliers are on our record for Indo Gulf Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

Employees & EPFO

Indo Gulf Industries Limited has a workforce of 4 employees on its EPFO records as of Mar 2024.

Employee count
4
Employee growth
-50%

Headcount by financial year

Financial yearEmployees (EPFO)
FY 2023-244
FY 2022-23
FY 2020-21
FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17

To see the full employee and EPFO history of Indo Gulf Industries Limited, buy the company report.

GST

Indo Gulf Industries has 7 GST registrations: 2 active and 5 cancelled or inactive.

Total GSTINs
7
Active
2
Cancelled / inactive
5
GSTINStateStatusRegistered on
09AAACI0120L2ZVUttar PradeshActive11 Sep 2017
05AAACI0120L2Z3UttarakhandActive22 Dec 2022

To see the full GST registrations and return filing status of Indo Gulf Industries Limited, buy the company report.

Recent activity

Indo Gulf Industries Limited has 35 board changes on record since 1981: 20 appointments and 15 cessations. The latest: Sanjay Choudhary ceased to be Managing Director on 15 Aug 2023.

Filing
Indo Gulf Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Delhi I.
Charges
A charge with Axis Bank Limited amounted to Rs. 25.00 Cr with Charge ID 101284224 was registered on 07 Mar 2026.
Charges
A charge registered on 20 Dec 2023 via Charge ID 100869900 with Hdfc Bank Limited was fully satisfied on 07 Jan 2026.
AGM
Indo Gulf Industries Limited last Annual general meeting of members was held on 30 Aug 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 10.00 Cr with Charge ID 101017106 was registered on 10 Dec 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.22 Cr with Charge ID 100869900 was registered on 20 Dec 2023.
Ceased
Sanjay Choudhary ceased to be Managing Director.
Appointed
Gaurav Kumar was appointed as Managing Director.
Appointed
Sanjay Choudhary was appointed as Managing Director.
Ceased
Vijay Ramesh Jagtap ceased to be Director.
Appointed
Vijay Ramesh Jagtap was appointed as Director.
Appointed
Bhagwan Das Agarwal was appointed as CFO.

81 earlier events are in the company report.

Frequently asked questions

Indo Gulf Industries is an active public limited company based in Delhi, India. The company works in defence accessories and components, within the aerospace, maritime and defense industry. It was incorporated on 05 March 1981 (45+ years old) and is registered under CIN L74900DL1981PLC011425. Listed on BSE: 506945.

Indo Gulf Industries reported revenue of ₹219.35 Cr for FY 2025-26 (down 11.2% YoY) based on standalone financials.

Indo Gulf Industries has 4 current directors:

The latest financial statements of Indo Gulf Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 August 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Indo Gulf Industries is 09AAACI0120L2ZV, registered in Uttar Pradesh. The company has 7 GST registrations in all, of which 2 are active and 5 are cancelled or inactive. Other active GSTINs include 05AAACI0120L2Z3 (Uttarakhand).

The CIN (Corporate Identification Number) of Indo Gulf Industries is L74900DL1981PLC011425. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Indo Gulf Industries is a listed company as per MCA records. Its shares are listed on BSE (code: 506945).

Indo Gulf Industries has 83 court cases on record: 60 filed by the company and 24 filed against it. 6 are pending. Most are in the high courts.

Indo Gulf Industries was incorporated on 05 March 1981, making it 45+ years old. It is registered with the Registrar of Companies, Delhi.

Indo Gulf Industries has 3 deals on record (2 secondary share transfers, 1 acquisition); the latest was in January 2017.