About Jotun India Private Limited
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Jotun India Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Jotun A/S Norway. It operates in the paint and coatings segment of the manufacturing sector. It was incorporated on 10 March 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24224MH2006PTC160431. Its GSTIN is 27AABCJ6665J1Z6 (Maharashtra). The company holds 15 GST registrations, of which 9 are active.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹191.38 Cr. It is led by directors including Shashi Kumar Venugopal and Baard Tonning.
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 Fulcrum A Wing 601(II)/602 Next To Hyatt Regency Sahar Road Andheri East, Mumbai, Maharashtra, India – 400099.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,078.74 Cr, a growth of 11% compared to the previous year. For the same year it recorded a net profit of ₹83.95 Cr (net margin 7.8%) and EBITDA of ₹137.08 Cr (EBITDA margin 12.7%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 12% over five years.
The company has about 343 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹4.65 Cr and satisfied charges of ₹35 Cr on record. Court records list 293 cases involving the company, including 262 filed by the company and 31 filed against it; 77 cases are pending. The company has 10 deals on record (7 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹357.77 Cr; the latest was in July 2016. Its 7 peer companies in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 3 smaller; the largest is Nippon Paint (India) Private Limited with revenue of ₹1,265.99 Cr. The company has 3 MSME Form 1 returns on record between 2018 and 2020, listing 22 overdue payments to 13 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website jotun.com.
Company details
Contact details
Jotun India Private Limited's registered office is in Mumbai, Maharashtra. Its website is jotun.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressFulcrum A Wing 601(II)/602 Next To Hyatt Regency Sahar Road Andheri East, Mumbai, Maharashtra, India – 400099
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Jotun India 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
Business activity
The main business activity of Jotun India 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 Jotun India Private Limited, buy the company report.
Financials of Jotun India Private Limited
FY 2025 filings availableJotun India Private Limited reported revenue of ₹1,078.74 Cr (up 11% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 12% over five years, including 11% growth in the latest year. EBITDA fell 8% 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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| EBITDA | ₹137.08 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | ₹83.95 Cr | ||||
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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 | 12.7% | ||||
| Net Profit Margin | 7.8% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Jotun India Private Limited, buy the company report.
Board of directors of Jotun India Private Limited
Jotun India has 3 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shashi Kumar Venugopal | Director | 06 May 2021 | 5 Years 5 Months | Current |
| Baard Tonning | Director | 02 Mar 2013 | 13 Years 7 Months | Current |
| Martin Ai Leng Chew | Director | 01 Jul 2024 | 2 Years 3 Months | Current |
Peer comparison
Jotun India Private Limited is compared with the 7 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 |
|---|---|---|---|---|---|---|
| Nippon Paint (India) Private Limited | ₹1,265.99 Cr (FY 2021) | -1.0% | Sunguvarchatiram, Tamil Nadu, India | |||
| Asian Paints PPG Private Limited | ₹1,199.16 Cr (FY 2025) | 4.0% | Mumbai, Maharashtra, India | |||
| Grauer and Weil (India) Limited | ₹1,180.04 Cr (FY 2025) | 7.0% | Mumbai, Maharashtra, India | |||
| Axalta Coating Systems India Private Limited | ₹1,097.81 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Jotun India Private Limitedthis company | ₹1,078.74 Cr (FY 2025) | ₹83.95 Cr | 7.8% | 11.0% | 343 | Mumbai, Maharashtra, India |
| Esdee Paints Limited | ₹1,041.23 Cr (FY 2025) | -1.0% | Mumbai, Maharashtra, India | |||
| Shalimar Paints Ltd | ₹608.9 Cr (FY 2025) | 12.0% | Gurugram, Haryana, India | |||
| Sheenlac Paints Limited | ₹559.52 Cr (FY 2025) | -3.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of Jotun India Private Limited, buy the company report.
Auditor
Jotun India Private Limited is audited by SRBC & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SRBC & CO LLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of Jotun India 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 Jotun India Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Jul 2005 | 90384114 | Citi Bank N.A. | ₹2.29 Cr | Open | |
| 21 Jul 2005 | 90372082 | Citi Bank N.A. | ₹2.29 Cr | Open | |
| 09 Oct 1999 | 90384084 | Union Bank of India | ₹7 Lakh | Open | |
| 04 Aug 2008 | 10123388 | Citibank N.A. | ₹35 Cr | Satisfied |
To see the full charge records of Jotun India Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Jotun India Private Limited has 10 deals on record (7 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹357.77 Cr; the latest was in July 2016.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2016 | Rights issue | ₹40 Cr | Investors: an individual |
| Dec 2014 | Rights issue | ₹25 Cr | Investors: an individual |
| Feb 2014 | Funding round | ₹80 Cr | Investors: an individual |
| Oct 2012 | Funding round | ₹75 Cr | Investors: an individual |
| Apr 2012 | Funding round | ₹6.86 Cr | Investors: Jotun Powder Coatings (Thailand) Limited, an individual |
To see the full deal history of Jotun India 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
Jotun India Private Limited has 293 court cases on record: 262 filed by Jotun India, 31 filed against it. 77 cases are pending and 216 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 213 | 13 | 76 |
| High courts | 74 | 17 | 0 |
| NCLT | 4 | 0 | 1 |
| Supreme Court | 2 | 1 | 0 |
Cases on record (5 of 293)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed by the company against Extreme Coatings Pvt Ltd and 2 others | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed by the company against BCD Emprasa LLP and 2 others | Pending |
| District court, BENGALURU RURAL, Karnataka | Court case (Com.O.S.) | Filed by the company against Berger Paints India Limited and 1 other | Pending |
| High Court, TAMIL NADU | Appeal | Filed against the company by Orvis Paints India Pvt. Ltd | Disposed |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by Orvis Paints India Pvt. Ltd | Disposed |
To see the full case history of Jotun India 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
Jotun India Private Limited has 3 MSME Form 1 returns on record between 2018 and 2020, listing 22 overdue payments to 13 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 13)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Konvertor Packaging Solutions Private Limited | |||
| an individual supplier | |||
| Usha Fire Safety Equipments Private Limited | |||
| Maldeep Catalysts Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Jotun India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Jotun India Private Limited has a workforce of 343 employees on its EPFO records as of Apr 02, 2024, across 1 active EPFO establishment.
GST
Jotun India has 15 GST registrations: 9 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCJ6665J1Z6 | Maharashtra | Active | 01 Jul 2017 |
| 27AABCJ6665J2Z5 | Maharashtra | Active | 01 Aug 2018 |
| 06AABCJ6665J1ZA | Haryana | Active | 01 Jul 2017 |
| 07AABCJ6665J1Z8 | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Jotun India Private Limited, buy the company report.
Recent activity
Jotun India Private Limited has 17 board changes on record since 2006: 3 appointments and 14 cessations. The latest: Martin Ai Leng Chew was appointed as Director on 01 Jul 2024.
13 earlier events are in the company report.
News
Frequently asked questions
Jotun India is an active private limited company based in Mumbai, Maharashtra, India. The company works in paint and coatings, within the manufacturing industry. It was incorporated on 10 March 2006 (20+ years old) and is registered under CIN U24224MH2006PTC160431.
Jotun India has 3 current directors:
- Shashi Kumar Venugopal - Director
- Baard Tonning - Director
- Martin Ai Leng Chew - Director
The latest financial statements of Jotun India 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 Jotun India is 27AABCJ6665J1Z6, registered in Maharashtra. The company has 15 GST registrations in all, of which 9 are active and 6 are cancelled or inactive. Other active GSTINs include 27AABCJ6665J2Z5 (Maharashtra), 06AABCJ6665J1ZA (Haryana), 07AABCJ6665J1Z8 (Delhi).
The CIN (Corporate Identification Number) of Jotun India is U24224MH2006PTC160431. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Jotun India has 293 court cases on record: 262 filed by the company and 31 filed against it. 77 are pending. Most are in the district courts.
Jotun India was incorporated on 10 March 2006, making it 20+ years old. It is registered with the Registrar of Companies, Mumbai.
Jotun India has 10 deals on record (7 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹357.77 Cr; the latest was in July 2016.
The peers of Jotun India by revenue are Nippon Paint (India) Private Limited, Asian Paints PPG Private Limited, Grauer and Weil (India) Limited, Axalta Coating Systems India Private Limited, Esdee Paints Limited and 2 more, all in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Martin Ai Leng Chew was appointed as Director on 01 Jul 2024. Esben Hersve ceased to be Director on 30 Jun 2024. Sudhir Moreshwar Kothare ceased to be Cfo(Kmp) on 18 Oct 2022. Jotun India has 17 board changes on record in total.
Jotun India has 3 MSME Form 1 returns on record between 2018 and 2020, listing 22 overdue payments to 13 micro and small suppliers. The latest return was filed on 24 Aug 2020.
Jotun India can be reached through the website jotun.com. Its registered office is in Mumbai, Maharashtra, India.
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