About Ini Farms Private Limited
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Ini Farms Private Limited was a private limited company based in Mumbai, Maharashtra, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the horticulture and produce segment of the agriculture sector. It was incorporated on 24 September 2009.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U01407MH2009PTC196036. Its GSTIN is 27AACCI1520Q1ZG (Maharashtra). The company held 5 GST registrations, all of them active.
The company had an authorised share capital of ₹1 Cr and a paid-up capital of ₹93.25 Lakh. It was led by directors including Pankaj Khandelwal (Managing Director) and Purnima Khandelwal.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at Mumbai, Maharashtra.
As per the financials filed for FY 2022, the company reported a revenue of ₹255.57 Cr, a growth of 114% compared to the previous year. For the same year it recorded a net loss of ₹23.38 Cr (net margin -9.1%) and EBITDA of -₹14.57 Cr (EBITDA margin -5.7%). Revenue has grown at a compounded annual rate (CAGR) of 35% over three years and 26% over five years.
The company had about 265 employees on its provident fund (EPFO) records before it was dissolved. Its group structure included 2 subsidiaries and 1 joint venture.
The company was associated with 2 brands: Kimaye and InI Farms. As per MCA filings, the company had satisfied charges of ₹83.7 Cr on record. Court records list 11 cases involving the company, including 8 filed by the company and 3 filed against it; 7 cases are pending. The company has 9 deals on record (7 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹136.69 Cr; the latest was in April 2023. Its 3 peer companies in the Agriculture industry (Fruits and Vegetables), with the same principal business activity (wholesale trading) are compared by revenue, 2 larger and 1 smaller; the largest is Royal Foodstuffs Private Limited with revenue of ₹280.24 Cr. The company has 10 MSME Form 1 returns on record between 2019 and 2023, listing 487 overdue payments to 62 micro and small suppliers.
The last known website on record is inifarms.com.
Company details
Contact details
Ini Farms Private Limited's registered office is in Mumbai, Maharashtra. Its website is inifarms.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No. A102 Boomerang Main Chandivali Farm Road Yadav Nagar Chandivali, Andh Eri East India, Mumbai, Maharashtra, India – 400072
- IndustryAgriculture, Horticulture & Produce
To see the full contact details of Ini Farms 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
Brands
Ini Farms operates two associated brands: Kimaye and InI Farms. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Upstream processing and marketing of pomegranates and bananas | kimaye.com | |
| Provider of farming services to horticulture industries | inifarms.com |
Business activity
The main business activity of Ini Farms is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Ini Farms Private Limited, buy the company report.
Financials of Ini Farms Private Limited
FY 2022 filings availableIni Farms Private Limited reported revenue of ₹255.57 Cr (up 114% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 26% over five years, including 114% growth in the latest year. EBITDA rose 37% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | -₹14.57 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹23.38 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -5.7% | ||||
| Net Profit Margin | -9.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| 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 Ini Farms Private Limited, buy the company report.
Board of directors of Ini Farms Private Limited
Ini Farms has 5 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pankaj Khandelwal Also directs: Keyara Fresh Private Limited, Inaara Ventures Private Limited, Ini Consulting Private Limited and 1 more | Managing Director | 24 Sep 2009 | 17 Years 1 Months | As last reported |
| Abhishek Chandra | Nominee Director | 11 Jun 2022 | 4 Years 4 Months | As last reported |
| Shardul Rajendra Sheth Also directs: Ulink Agritech Private Limited | Nominee Director | 11 Jun 2022 | 4 Years 4 Months | As last reported |
| Sitanshu Rajendra Sheth Also directs: Ulink Agritech Private Limited | Nominee Director | 11 Jun 2022 | 4 Years 4 Months | As last reported |
| Purnima Khandelwal Also directs: Keyara Fresh Private Limited, Inaara Ventures Private Limited, Ini Consulting Private Limited and 1 more | Director | 24 Sep 2009 | 17 Years 1 Months | As last reported |
Peer comparison
Ini Farms Private Limited is compared with the 3 companies closest to it by revenue in the Agriculture industry (Fruits and Vegetables), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Royal Foodstuffs Private Limited | ₹280.24 Cr (FY 2025) | -1.0% | Thane, Maharashtra, India | |||
| SL Veggies India Private Limited | ₹260.64 Cr (FY 2025) | 47.0% | Hosakote, Karnataka, India | |||
| Ini Farms Private Limitedthis company | ₹255.57 Cr (FY 2022) | -₹23.38 Cr | -9.1% | 114.0% | 265 | Mumbai, Maharashtra, India |
| Prime Fresh Limited | ₹207.71 Cr (FY 2025) | 39.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Ini Farms Private Limited, buy the company report.
Auditor
Ini Farms Private Limited is audited by MS K A & Associates for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MS K A & Associates | FY 2022 | 105047W |
Shareholding
The shareholding of Ini Farms 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 category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ini Farms Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Sep 2021 | 100490093 | Others | ₹22 Cr | Satisfied | |
| 15 Feb 2020 | 100325102 | Citi Bank N.A. | ₹7 Cr | Satisfied | |
| 26 Mar 2019 | 100268059 | Citi Bank N.A. | ₹21 Cr | Satisfied | |
| 28 Dec 2018 | 100230501 | Others | ₹2 Cr | Satisfied | |
| 28 Dec 2018 | 100231649 | Others | ₹3 Cr | Satisfied |
To see the full charge records of Ini Farms Private Limited, buy the company report.
Total charge records: 17 View all charges
Deals & funding
Ini Farms Private Limited has 9 deals on record (7 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹136.69 Cr; the latest was in April 2023.
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2023 | Funding round | ₹16.01 Cr | Investors: Aavishkaar Capital |
| Mar 2022 | Acquisition | Undisclosed | Buyer: Ulink Agritech Private Limited Seller: Aavishkaar Capital |
| Sep 2021 | Debt financing | ₹22 Cr | Investors: InnoVen Capital |
| Sep 2016 | Funding round | ₹51.5 Cr | Investors: Lightrock India (LGT Lightstone Aspada), Samridhi Fund, Unilazer Ventures |
| Jun 2010 | Funding round | ₹2.1 Cr | Investors: 4 individuals |
To see the full deal history of Ini Farms 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
Ini Farms Private Limited has 11 court cases on record: 8 filed by Ini Farms, 3 filed against it. 7 cases are pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 0 | 7 |
| High courts | 3 | 3 | 0 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against One Agro Ventures Private Limited and 5 others | Pending |
| High Court, TAMIL NADU | Appeal | Filed against the company by M/S Caravel Logistics Pvt. Ltd. | Disposed |
| High Court, TAMIL NADU | Arbitration matter | Filed against the company by M/S Caravel Logistics Pvt. Ltd., | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against individuals | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Sri Chain Shakti Fruit Traders and 1 other | Pending |
To see the full case history of Ini Farms Private 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
Ini Farms Private Limited has 10 MSME Form 1 returns on record between 2019 and 2023, listing 487 overdue payments to 62 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 62)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Khetan Packfine Private Limited | |||
| Asean Box Corporation | |||
| an individual supplier | |||
| Disha Labels and Barcode Solutions | |||
| Pratik Box Movers |
To see the full MSME payment records of Ini Farms Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Ini Farms has 2 subsidiary companies and 1 joint venture. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Zakuro Agri Private Limited | U74990MH2010PTC207065 | |
| Ini Agri Private Limited | U74999MH2015PTC261315 |
To see the full group structure of Ini Farms Private Limited, buy the company report.
Employees & EPFO
Ini Farms Private Limited has a workforce of 265 employees on its EPFO records as of Apr 04, 2024, across 1 active EPFO establishment.
GST
Ini Farms has 5 GST registrations: 5 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCI1520Q1ZG | Maharashtra | Active | 01 Jul 2017 |
| 24AACCI1520Q1ZM | Gujarat | Active | 01 Jul 2017 |
| 37AACCI1520Q1ZF | Andhra Pradesh | Active | 01 Jul 2017 |
| 07AACCI1520Q1ZI | Delhi | Active | 19 Jul 2017 |
To see the full GST registrations and return filing status of Ini Farms Private Limited, buy the company report.
Recent activity
Ini Farms Private Limited has 16 board changes on record since 2009: 5 appointments and 11 cessations. The latest: Janavi Ankit Papriwal ceased to be Nominee Director on 09 Sep 2022.
41 earlier events are in the company report.
News
Frequently asked questions
Ini Farms has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Ini Farms was a private limited company based in Mumbai, Maharashtra, India. The company worked in horticulture and produce, within the agriculture industry. It was incorporated on 24 September 2009 and is registered under CIN U01407MH2009PTC196036. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Ini Farms was incorporated on 24 September 2009. It is registered with the Registrar of Companies, Mumbai.
Ini Farms had 5 directors:
- Pankaj Khandelwal - Managing Director
- Abhishek Chandra - Nominee Director
- Shardul Rajendra Sheth - Nominee Director
- Sitanshu Rajendra Sheth - Nominee Director
- Purnima Khandelwal - Director
The CIN (Corporate Identification Number) of Ini Farms is U01407MH2009PTC196036. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Ini Farms is at Unit No. A102 Boomerang Main Chandivali Farm Road Yadav Nagar Chandivali, Andh Eri East India, Mumbai, Maharashtra, India – 400072.
Ini Farms can be reached through the website inifarms.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Ini Farms on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of Ini Farms is 27AACCI1520Q1ZG, registered in Maharashtra. The company has 5 GST registrations in all, of which 5 are active. Other active GSTINs include 24AACCI1520Q1ZM (Gujarat), 37AACCI1520Q1ZF (Andhra Pradesh), 07AACCI1520Q1ZI (Delhi).
Ini Farms operated in the agriculture industry, in the horticulture and produce segment.
Ini Farms has 9 deals on record (7 funding rounds, 1 acquisition, 1 debt financing), with disclosed funding of ₹136.69 Cr; the latest was in April 2023.
The peers of Ini Farms by revenue are Royal Foodstuffs Private Limited, SL Veggies India Private Limited, Prime Fresh Limited, all in the Agriculture industry (Fruits and Vegetables), with the same principal business activity (wholesale trading).
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