MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-25-0007966
Industrial Boilers Limited - machinery and equipment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹169.7 Cr
▼ 15% YoY
Net profit · FY 2025
₹3.6 Cr
Net margin 2.1%
EBITDA · FY 2025
₹8.22 Cr
EBITDA margin 4.8%
Authorised capital
₹6 Cr
Registered with MCA
Paid-up capital
₹3.58 Cr
Issued & subscribed
Open charges
₹29.24 Cr
Satisfied ₹5.72 Cr
Company age
29 yrs
Est. 1997
Employees · EPFO
182
Provident fund records
About Industrial Boilers Limited
Data last updated:
Industrial Boilers Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 20 August 1997 and has been in existence for over 29 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U28131MH1997PLC110202. Its GSTIN is 24AAACI5736N1ZC (Gujarat). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹6 Cr and a paid-up capital of ₹3.58 Cr. It was formerly known as Industrial Boilers Private Limited. It is led by directors including Rohinton Rusi Engineer (Managing Director) and Cyrus Rusi Engineer (Whole-Time Director).
Its last annual general meeting (AGM) was held on 28 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 701 C Poonam Chambersdr Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2025, the company reported a revenue of ₹169.7 Cr, a decline of 15% compared to the previous year. For the same year it recorded a net profit of ₹3.6 Cr (net margin 2.1%) and EBITDA of ₹8.22 Cr (EBITDA margin 4.8%). Revenue has grown at a compounded annual rate (CAGR) of 22% over three years and 17% over five years.
The company has about 182 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹29.24 Cr and satisfied charges of ₹5.72 Cr on record. Court records list 35 cases involving the company, including 22 filed by the company and 13 filed against it; 4 cases are pending. The company has 4 deals on record (3 funding rounds, 1 rights issue), with disclosed funding of ₹1.17 Cr; the latest was in March 2016. The company has 3 MSME Form 1 returns on record between 2019 and 2023, listing 28 overdue payments to 24 micro and small suppliers.
Industrial Boilers Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-25-0007966). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website industrialboilers.net.
Company details
CIN U28131MH1997PLC110202
Registration Number 110202
Incorporation Date 20 August 1997
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 28 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-25-0007966
CIN history
Industrial Boilers has one previous CIN (Corporate Identification Number): L28131MH1997PLC110202. The current CIN is U28131MH1997PLC110202, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U28131MH1997PLC110202 | Current |
| L28131MH1997PLC110202 | Previous |
Key People
Rohinton Rusi Engineer Managing Director Cyrus Rusi Engineer Whole-Time Director Dilnavaz Rohinton Engineer Additional Director Recognitions & Rankings of Industrial Boilers
Contact details
Industrial Boilers Limited's registered office is in Mumbai, Maharashtra. Its website is industrialboilers.net. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address701 C Poonam Chambersdr Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
To see the full contact details of Industrial Boilers Limited, buy the company report.
Comprehensive company report
Industrial Boilers 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 Industrial Boilers is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Industrial Boilers Limited, buy the company report.
Financials of Industrial Boilers Limited
FY 2024 filings availableIndustrial Boilers Limited reported revenue of ₹169.7 Cr (down 15% YoY) for FY 2025.
Revenue · FY 2025
₹169.7 Cr ▼ 15%
Net profit · FY 2025
₹3.6 Cr margin 2.1%
EBITDA · FY 2025
₹8.22 Cr margin 4.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 15%
3 years · compounded
▲ 22%
5 years · compounded
▲ 17%
EBITDA CAGR growth
1 year
▼ 16%
3 years · compounded
▲ 35%
5 years · compounded
▲ 11%
Revenue fell 15% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 17%. EBITDA fell 16% 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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| Total Expenses | |||||
| EBITDA | ₹8.22 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹3.6 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 | 4.8% | ||||
| Net Profit Margin | 2.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Industrial Boilers Limited, buy the company report.
Board of directors of Industrial Boilers Limited
Industrial Boilers has 4 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Cyrus Rusi Engineer | Whole-Time Director | 24 Oct 1999 | 27 Years 0 Months | Current |
| Dilnavaz Rohinton Engineer | Additional Director | 28 May 2025 | 1 Years 5 Months | Current |
| Rohinton Rusi Engineer Also directs: Teraagreen Bio Energy Private Limited, Ib Turbo Private Limited, Schwartz Turbotech Private Limited and 3 more | Managing Director | 24 Oct 1999 | 27 Years 0 Months | Current |
| Kaenaz Cyrus Engineer | Director Appointed In Casual Vacancy | 28 May 2025 | 1 Years 5 Months | Current |
Auditor
Industrial Boilers Limited is audited by M. D. Desai & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M. D. Desai & Co. | FY 2023 | 111870W |
Shareholding
The shareholding of Industrial Boilers 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 Industrial Boilers Limited, buy the company report.
Charges & borrowings
Open charges
₹29.24 Cr
Satisfied charges
₹5.72 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Oct 2024 | 101000460 | Yes Bank Limited | ₹9 Cr | Open | |
| 25 Jul 2023 | 100794970 | Others | ₹24 Lakh | Open | |
| 09 Apr 2003 | 80027708 | Others | ₹20 Cr | Open | |
| 10 Jan 2015 | 10545126 | The Zoroastrian Co-Operative Bank Limited | ₹5 Cr | Satisfied | |
| 23 Mar 1995 | 80054443 | Gujarat State Financial Corporation | ₹71.7 Lakh | Satisfied |
To see the full charge records of Industrial Boilers Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Industrial Boilers Limited has 4 deals on record (3 funding rounds, 1 rights issue), with disclosed funding of ₹1.17 Cr; the latest was in March 2016.
Total deals
4
Funding rounds
3
Rights issue
1
Disclosed funding
₹1.17 Cr
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2016 | Rights issue | ₹1.05 Cr | Investors: 4 individuals |
| Mar 2014 | Funding round | ₹8 Lakh | Investors: an individual |
| Mar 2011 | Funding round | ₹80.6 Lakh | Investors: 4 individuals |
| Feb 2008 | Funding round | ₹28 Lakh | Investors: 4 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Industrial Boilers Limited has 35 court cases on record: 22 filed by Industrial Boilers, 13 filed against it. 4 cases are pending and 31 are disposed.
Total cases
35
Filed by the company
22
Filed against the company
13
Pending
4
Disposed
31
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 23 | 8 | 4 |
| High courts | 12 | 5 | 0 |
Cases on record (5 of 35)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed against the company by Seya Industries Limited | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial matter | Filed by the company against Seya Industries Ltd | Pending |
| District court, Valsad, Gujarat | Civil suit | Filed against the company by Gujarat Polybonds Pvt Ltd Through Director Vijay Vitthal Babaria | Disposed |
| High Court, MAHARASHTRA | Commercial suit | Filed against the company by Seya Industries Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed by the company against M/S. A.S. Infra Tech Pvt. Ltd. and 1 other | Disposed |
To see the full case history of Industrial Boilers Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Industrial Boilers Limited has 3 MSME Form 1 returns on record between 2019 and 2023, listing 28 overdue payments to 24 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 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Prakash Industrial Services Pvt Ltd | |||
| Comet Lubricants | |||
| Combustion Concepts Private Limited | |||
| P K Carbonics | |||
| Deep Weld Agencies |
To see the full MSME payment records of Industrial Boilers Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Industrial Boilers Limited has a workforce of 182 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
Employee count
182
Active EPFO establishments
1
Employee growth
-8.54%
GST
Industrial Boilers has 3 GST registrations: 1 active and 2 cancelled or inactive.
Total GSTINs
3
Active
1
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACI5736N1ZC | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Industrial Boilers Limited, buy the company report.
Recent activity
Industrial Boilers Limited has 10 board changes on record since 1999: 4 appointments and 6 cessations. The latest: Dilnavaz Rohinton Engineer was appointed as Additional Director on 28 May 2025.
Charges
A charge with Others of Rs. 20.00 Cr registered on 09 Apr 2003 with Charge ID 80027708 was modified on 04 Nov 2025.
Appointed
Dilnavaz Rohinton Engineer was appointed as Additional Director.
Appointed
Kaenaz Cyrus Engineer was appointed as Director Appointed In Casual Vacancy.
Ceased
Homai Rusi Engineer ceased to be Managing Director.
Charges
A charge with Yes Bank Limited amounted to Rs. 9.00 Cr with Charge ID 101000460 was registered on 25 Oct 2024.
AGM
Industrial Boilers Limited last Annual general meeting of members was held on 28 Sep 2024 as per latest MCA records.
Filing
Industrial Boilers Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Charges
A charge with Others amounted to Rs. 0.24 Cr with Charge ID 100794970 was registered on 25 Jul 2023.
Charges
A charge registered on 10 Jan 2015 via Charge ID 10545126 with The Zoroastrian Co-Operative Bank Limited was fully satisfied on 21 Jun 2016.
Charges
A charge with The Zoroastrian Co-Operative Bank Limited of Rs. 5.00 Cr registered on 10 Jan 2015 with Charge ID 10545126 was modified on 04 Aug 2015.
Charges
A charge with The Zoroastrian Co-Operative Bank Limited amounted to Rs. 5.00 Cr with Charge ID 10545126 was registered on 10 Jan 2015.
Ceased
Anil Vasant Mayekar ceased to be Additional Director.
11 earlier events are in the company report.
Frequently asked questions
Industrial Boilers is an active public limited company based in Mumbai, Maharashtra, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 20 August 1997 (29+ years old) and is registered under CIN U28131MH1997PLC110202.
Industrial Boilers has 4 current directors:
- Rohinton Rusi Engineer - Managing Director
- Cyrus Rusi Engineer - Whole-Time Director
- Dilnavaz Rohinton Engineer - Additional Director
- Kaenaz Cyrus Engineer - Director Appointed In Casual Vacancy
The latest financial statements of Industrial Boilers on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 28 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Industrial Boilers is 24AAACI5736N1ZC, registered in Gujarat. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Industrial Boilers is U28131MH1997PLC110202. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Industrial Boilers has 35 court cases on record: 22 filed by the company and 13 filed against it. 4 are pending. Most are in the district courts.
Industrial Boilers was incorporated on 20 August 1997, making it 29+ years old. It is registered with the Registrar of Companies, Mumbai.
Industrial Boilers has 4 deals on record (3 funding rounds, 1 rights issue), with disclosed funding of ₹1.17 Cr; the latest was in March 2016.
Dilnavaz Rohinton Engineer was appointed as Additional Director on 28 May 2025. Kaenaz Cyrus Engineer was appointed as Director Appointed In Casual Vacancy on 28 May 2025. Homai Rusi Engineer ceased to be Managing Director on 03 Mar 2025. Industrial Boilers has 10 board changes on record in total.
Yes, Industrial Boilers is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-25-0007966).
Industrial Boilers has 3 MSME Form 1 returns on record between 2019 and 2023, listing 28 overdue payments to 24 micro and small suppliers. The latest return was filed on 27 Nov 2023.