About Jay Formulations Ltd
Data last updated:
Jay Formulations Ltd is a public limited company based in Ahmedabad, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 15 June 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U17119GJ1988PLC010855. Its GSTIN is 24AAACJ3799G1ZF (Gujarat).
The company has an authorised share capital of ₹3.05 Cr and a paid-up capital of ₹2 Cr. It was formerly known as Bhavik Textiles Pvt Ltd. It is led by directors including Hemant Bhogilal Mehta and Hitendra Nihalchand Mehta.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 13 First Floor Harikrishnacomplex B/H Dipalee Cinema Ashram Road, Ahmedabad, Gujarat, India – 380009.
As per the financials filed for FY 2021, the company reported a revenue of ₹138.71 Cr, a growth of 11% compared to the previous year. For the same year it recorded a net loss of ₹27.22 Cr (net margin -19.6%) and EBITDA of -₹17.12 Cr (EBITDA margin -12.3%). Revenue has grown at a compounded annual rate (CAGR) of 21% over three years and 16% over five years.
As per MCA filings, the company has open charges of ₹73.81 Cr and satisfied charges of ₹13 Lakh on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website jayformulations.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address13 First Floor Harikrishnacomplex B/H Dipalee Cinema Ashram Road, Ahmedabad, Gujarat, India – 380009
- IndustryPharma, Drug Formulation & Development
- 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
- One PDF report, delivered after checkout
Business Activity of Jay Formulations Ltd
The main business activity of Jay Formulations is manufacturing. In detail, this covers computer, electronic, communication and scientific measuring & control equipment.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Jay Formulations Ltd
Jay Formulations Ltd is audited by Nimesh Hariya & Associates for the financial year 2021.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Nimesh Hariya & Associates | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Jay Formulations Ltd
Jay Formulations has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hemant Bhogilal Mehta Also directs: Oceanic Techno Chem Private Limited, Aquatic Remedies Limited, Aquatic Formulations (India) Limited and 1 more | Additional Director | 05 May 2025 | 1 Years 5 Months | Current |
| Hitendra Nihalchand Mehta Also directs: Oceanic Techno Chem Private Limited, Aquatic Remedies Limited, Aquatic Formulations (India) Limited and 1 more | Additional Director | 05 May 2025 | 1 Years 5 Months | Current |
| Darshan Bhogilal Mehta Also directs: Oceanic Techno Chem Private Limited, Aquatic Remedies Limited, Aquatic Formulations (India) Limited and 3 more | Additional Director | 05 May 2025 | 1 Years 5 Months | Current |
Financials of Jay Formulations Ltd FY 2024 filings available
Jay Formulations Ltd reported revenue of ₹138.71 Cr (up 11% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR) of Jay Formulations Ltd
Revenue has grown at a compounded annual rate (CAGR) of 16% over five years, including 11% growth in the latest year. EBITDA fell 327% 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 of Jay Formulations Ltd
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹138.71 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹17.12 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹27.22 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 of Jay Formulations Ltd
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -12.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -19.6% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Jay Formulations are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Jay Formulations Ltd
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Jay Formulations Ltd
| Date | Lender | Amount | Status |
|---|---|---|---|
| 08 Jan 2021 | Sidbi | ₹2.8 Cr | Open |
| 02 Jan 2021 | Tata Capital Financial Services Limited | ₹1.24 Cr | Open |
| 08 Sep 2020 | Others | ₹12.5 Lakh | Open |
| 30 Jul 2020 | Others | ₹12.39 Lakh | Open |
| 24 Jul 2020 | Sidbi | ₹2.8 Cr | Open |
Total charge records: 15 View all charges
Employees and EPFO Compliance at Jay Formulations Ltd
Employment history and EPFO contributions of people linked to Jay Formulations.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
GST Compliance of Jay Formulations Ltd
Jay Formulations has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACJ3799G1ZF | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
Credit Ratings, Litigation & Regulatory Alerts for Jay Formulations Ltd
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Jay Formulations Ltd
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Jay Formulations Ltd
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Jay Formulations Ltd
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Recent Activity on Jay Formulations Ltd
Frequently Asked Questions about Jay Formulations Ltd
Jay Formulations is an active public limited company based in Ahmedabad, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 15 June 1988 (38+ years old) and is registered under CIN U17119GJ1988PLC010855.
Jay Formulations reported revenue of ₹138.71 Cr for FY 2021 (up 11% YoY).
Jay Formulations has 3 current directors:
- Hemant Bhogilal Mehta - Additional Director
- Hitendra Nihalchand Mehta - Additional Director
- Darshan Bhogilal Mehta - Additional Director
Jay Formulations reported a net loss of ₹27.22 Cr (net margin -19.6%) and EBITDA of -₹17.12 Cr (EBITDA margin -12.3%) for FY 2021, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Jay Formulations is 21% over three years and 16% over five years. In the latest year (FY 2021) revenue rose 11%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Jay Formulations is 24AAACJ3799G1ZF, registered in Gujarat.
The CIN (Corporate Identification Number) of Jay Formulations is U17119GJ1988PLC010855. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Jay Formulations was incorporated on 15 June 1988, making it 38+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Jay Formulations can be reached through the website jayformulations.in. Its registered office is in Ahmedabad, Gujarat, India.