MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2023-24)
- Udyam number
- UDYAM-CH-01-0004641
Innovation Coatings Private Limited - manufacturing in Chandigarh, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹4.74 Cr
▲ 5% YoY
Net profit · FY 2024
₹15.48 Lakh
Net margin 3.3%
EBITDA · FY 2024
₹21.97 Lakh
EBITDA margin 4.6%
Authorised capital
₹4.5 Lakh
Registered with MCA
Paid-up capital
₹3.24 Lakh
Issued & subscribed
Open charges
₹24 Lakh
Secured borrowings
Company age
31 yrs
Est. 1995
Directors on board
2
As per MCA filings
About Innovation Coatings Private Limited
Data last updated:
Innovation Coatings Private Limited is a private limited company based in Chandigarh, India. It operates in the paint and coatings segment of the manufacturing sector. It was incorporated on 18 April 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U24222CH1995PTC016232. Its GSTIN is 04AAACI4709D1Z4 (Chandigarh).
The company has an authorised share capital of ₹4.5 Lakh and a paid-up capital of ₹3.24 Lakh. It is led by directors Deepak Bhanot and Diksha Bhanot.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Plot No. 182/53 Industrial Area Phase I, Chandigarh, India – 160001.
As per the financials filed for FY 2024, the company reported a revenue of ₹4.74 Cr, a growth of 5% compared to the previous year. For the same year it recorded a net profit of ₹15.48 Lakh (net margin 3.3%) and EBITDA of ₹21.97 Lakh (EBITDA margin 4.6%). Revenue has grown at a compounded annual rate (CAGR) of 39% over three years and 14% over five years.
The company is associated with 1 brand: Innovation Coatings. As per MCA filings, the company has open charges of ₹24 Lakh on record. Court records list 6 cases involving the company, including 2 filed by the company and 4 filed against it; 4 cases are pending.
Innovation Coatings Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-CH-01-0004641). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website innovationcoatings.in.
Company details
CIN U24222CH1995PTC016232
Registration Number 016232
Incorporation Date 18 April 1995
ROC Chandigarh
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Micro
Udyam Registration UDYAM-CH-01-0004641
Key People
Deepak Bhanot Director Diksha Bhanot Director Recognitions & Rankings of Innovation Coatings
Contact details
Innovation Coatings Private Limited's registered office is in Chandigarh, Chandigarh. Its website is innovationcoatings.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressPlot No. 182/53 Industrial Area Phase I, Chandigarh, India – 160001
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Innovation Coatings Private Limited, buy the company report.
Comprehensive company report
Innovation Coatings 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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Brands
Innovation Coatings operates one associated brand: Innovation Coatings. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provision of adhesives, coatings, and paints for industrial and household applications. | innovationcoatings.in |
Business activity
The main business activity of Innovation Coatings 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 Innovation Coatings Private Limited, buy the company report.
Financials of Innovation Coatings Private Limited
FY 2025 filings availableInnovation Coatings Private Limited reported revenue of ₹4.74 Cr (up 5% YoY) for FY 2024.
Revenue · FY 2024
₹4.74 Cr ▲ 5%
Net profit · FY 2024
₹15.48 Lakh margin 3.3%
EBITDA · FY 2024
₹21.97 Lakh margin 4.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 5%
3 years · compounded
▲ 39%
5 years · compounded
▲ 14%
EBITDA CAGR growth
1 year
▲ 23%
3 years · compounded
▲ 42%
5 years · compounded
▲ 10%
Revenue has grown at a compounded annual rate (CAGR) of 14% over five years, including 5% growth in the latest year. EBITDA rose 23% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| 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 | ₹21.97 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹15.48 Lakh | ||||
| 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
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.6% | ||||
| Net Profit Margin | 3.3% | ||||
| 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 Innovation Coatings Private Limited, buy the company report.
Board of directors of Innovation Coatings Private Limited
Innovation Coatings has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Deepak Bhanot | Director | 18 Apr 1995 | 31 Years 6 Months | Current |
| Diksha Bhanot | Director | 18 Apr 1995 | 31 Years 6 Months | Current |
Peer comparison
Innovation Coatings Private Limited is compared with the 3 companies closest to it by revenue in the Manufacturing industry (Paints), 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 |
|---|---|---|---|---|---|---|
| Hywel Paints India Private Limited | ₹4.81 Cr (FY 2024) | 53.0% | Kozhikkode, Kerala, India | |||
| Naya Rangoli Paints Private Limited | ₹4.8 Cr (FY 2025) | 68.0% | Sirmour, Himachal Pradesh, India | |||
| Innovation Coatings Private Limitedthis company | ₹4.74 Cr (FY 2024) | ₹15.48 Lakh | 3.3% | 5.0% | Chandigarh, India | |
| PMC Paints Private Limited | ₹4.72 Cr (FY 2024) | 7.0% | Surat, Gujarat, India |
To see the full peer comparison of Innovation Coatings Private Limited, buy the company report.
Auditor
Innovation Coatings Private Limited is audited by MEHROTRA SHARMA & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MEHROTRA SHARMA & ASSOCIATES | FY 2023 | 02627N |
Shareholding
The shareholding of Innovation Coatings Private 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 Innovation Coatings Private Limited, buy the company report.
Charges & borrowings
Open charges
₹24 Lakh
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 17 Mar 1999 | 90173656 | State Bank of India | ₹8 Lakh | Open | |
| 17 Mar 1999 | 90175921 | State Bank of India | ₹8 Lakh | Open | |
| 17 Feb 1999 | 90309223 | State Bank of India | ₹8 Lakh | Open |
To see the full charge records of Innovation Coatings Private Limited, buy the company report.
Total charge records: 3 View all charges
Legal cases
Innovation Coatings Private Limited has 6 court cases on record: 2 filed by Innovation Coatings, 4 filed against it. 4 cases are pending and 2 are disposed.
Total cases
6
Filed by the company
2
Filed against the company
4
Pending
4
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 4 | 2 |
| District courts | 2 | 0 | 2 |
Cases on record (5 of 6)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Court case (COMIP) | Filed against the company by Pidilite Industries Limited | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Pidilite Industries Limited | Pending |
| District court, Chandigarh | Cheque dishonour complaint | Filed by the company against Him Mec Tec Pvt Ltd and 1 other | Pending |
| High Court, MAHARASHTRA | Arbitration matter | Filed against the company by Pidilite Industries Limited | Disposed |
| High Court, MAHARASHTRA | Court case (LPETN) | Filed against the company by Pidilite Industries Limited Khaitan and Co. | Disposed |
To see the full case history of Innovation Coatings 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
No delayed payments to MSME suppliers are on our record for Innovation Coatings Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Innovation Coatings has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 04AAACI4709D1Z4 | Chandigarh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Innovation Coatings Private Limited, buy the company report.
Recent activity
Innovation Coatings Private Limited has 4 board changes on record since 1995: 3 appointments and 1 cessation. The latest: Parkash Nath Bhanot ceased to be Director on 02 Feb 2015.
AGM
Innovation Coatings Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Innovation Coatings Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Chandigarh.
Ceased
Parkash Nath Bhanot ceased to be Director.
Charges
A charge with State Bank Of India of Rs. 8.00 Lakh registered on 17 Mar 1999 with Charge ID 90175921 was modified on 04 Mar 2003.
Charges
A charge with State Bank Of India of Rs. 8.00 Lakh registered on 17 Feb 1999 with Charge ID 90309223 was modified on 04 Mar 2003.
Charges
A charge with State Bank Of India amounted to Rs. 8.00 Lakh with Charge ID 90173656 was registered on 17 Mar 1999.
Charges
A charge with State Bank Of India amounted to Rs. 8.00 Lakh with Charge ID 90175921 was registered on 17 Mar 1999.
Charges
A charge with State Bank Of India amounted to Rs. 8.00 Lakh with Charge ID 90309223 was registered on 17 Feb 1999.
Appointed
Deepak Bhanot was appointed as Director.
Appointed
Diksha Bhanot was appointed as Director.
Appointed
Parkash Nath Bhanot was appointed as Director.
Incorporation
18 Apr 1995
Innovation Coatings Private Limited was registered on 18 Apr 1995 with Roc Chandigarh & aged 31 years 6 months as per MCA records.
Frequently asked questions
Innovation Coatings is an active private limited company based in Chandigarh, India. The company works in paint and coatings, within the manufacturing industry. It was incorporated on 18 April 1995 (31+ years old) and is registered under CIN U24222CH1995PTC016232.
Innovation Coatings has 2 current directors:
- Deepak Bhanot - Director
- Diksha Bhanot - Director
The latest financial statements of Innovation Coatings on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Innovation Coatings is 04AAACI4709D1Z4, registered in Chandigarh.
The CIN (Corporate Identification Number) of Innovation Coatings is U24222CH1995PTC016232. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Innovation Coatings has 6 court cases on record: 2 filed by the company and 4 filed against it. 4 are pending. Most are in the high courts.
Innovation Coatings was incorporated on 18 April 1995, making it 31+ years old. It is registered with the Registrar of Companies, Chandigarh.
The peers of Innovation Coatings by revenue are Hywel Paints India Private Limited, Naya Rangoli Paints Private Limited, PMC Paints Private Limited, all in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Parkash Nath Bhanot ceased to be Director on 02 Feb 2015. Deepak Bhanot was appointed as Director on 18 Apr 1995. Diksha Bhanot was appointed as Director on 18 Apr 1995. Innovation Coatings has 4 board changes on record in total.
Yes, Innovation Coatings is registered as a micro enterprise under Udyam registration (number: UDYAM-CH-01-0004641).
Innovation Coatings can be reached through the website innovationcoatings.in. Its registered office is in Chandigarh, India.
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