About Kaithal Tollway Limited
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Kaithal Tollway Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Irb Infrastructure Developers Limited. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 11 June 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45201MH2014PLC255454. Its GSTIN is 27AAFCK5453R1ZT (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹328 Cr and a paid-up capital of ₹328 Cr. It was formerly known as Kaithal Tollway Private Limited. It is led by directors including Swapna Sadanand Vengurlekar and Nikesh Moolchand Jain.
Its last annual general meeting (AGM) was held on 22 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Irb Complex Chandivali Farm, Chandivali Village Andheri East Mumbai 400072, Maharashtra, India – 400072.
As per the financials filed for FY 2025, the company reported a revenue of ₹137.17 Cr, a decline of 5% compared to the previous year. For the same year it recorded a net loss of ₹256.15 Cr (net margin -186.7%) and EBITDA of ₹91.76 Cr (EBITDA margin 66.9%). Revenue has grown at a compounded annual rate (CAGR) of 1% over three years and 4% over five years.
The company has about 223 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: IRB Infrastructure Developers. As per MCA filings, the company has open charges of ₹1,221.5 Cr and satisfied charges of ₹2,432.74 Cr on record. Court records list 8 cases involving the company, including 4 filed by the company and 4 filed against it; 4 cases are pending. The company has 1 deal on record (1 acquisition); the latest was in October 2025. Its 8 peer companies in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 4 larger and 4 smaller; the largest is Ashoka Karadi Banwara Road Private Limited with revenue of ₹138.2 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website irb.co.in.
Company details
CIN history
Kaithal Tollway has one previous CIN (Corporate Identification Number): U45201MH2014PTC255454. The current CIN is U45201MH2014PLC255454, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45201MH2014PLC255454 | Current |
| U45201MH2014PTC255454 | Previous |
Contact details
Kaithal Tollway Limited's registered office is in Mumbai, Maharashtra. Its website is irb.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressIrb Complex Chandivali Farm, Chandivali Village Andheri East Mumbai 400072, Maharashtra, India – 400072
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of Kaithal Tollway 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
Kaithal Tollway operates one associated brand: IRB Infrastructure Developers. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of infrastructure development services | irb.co.in |
Business activity
The main business activity of Kaithal Tollway is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
To see the full business activity and turnover split of Kaithal Tollway Limited, buy the company report.
Financials of Kaithal Tollway Limited
FY 2025 filings availableKaithal Tollway Limited reported revenue of ₹137.17 Cr (down 5% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 5% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 4%. EBITDA fell 10% 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 | ₹91.76 Cr | ||||
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| Net Profit (PAT) | -₹256.15 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 | 66.9% | ||||
| Net Profit Margin | -186.7% | ||||
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To see the full financial statements and ratios of Kaithal Tollway Limited, buy the company report.
Board of directors of Kaithal Tollway Limited
Kaithal Tollway has 4 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Swapna Sadanand Vengurlekar Also directs: Kishangarh Gulabpura Tollway Limited, Vm7 Expressway Private Limited, Irb Hapur Moradabad Tollway Limited and 2 more | Additional Director | 06 Nov 2025 | 0 Years 11 Months | Current |
| Nikesh Moolchand Jain Also directs: JMR & Associates LLP, Irb Infrastructure Private Limited, Kishangarh Gulabpura Tollway Limited and 2 more | Additional Director | 06 Nov 2025 | 0 Years 11 Months | Current |
| Rushabh Rakesh Gandhi Also directs: Irb Infrastructure Private Limited, Kishangarh Gulabpura Tollway Limited, Vm7 Expressway Private Limited and 5 more | Additional Director | 06 Nov 2025 | 0 Years 11 Months | Current |
| Anusha Chaitanya Date Also directs: Irb Infrastructure Private Limited, Kishangarh Gulabpura Tollway Limited, Vm7 Expressway Private Limited and 2 more | Additional Director | 06 Nov 2025 | 0 Years 11 Months | Current |
Peer comparison
Kaithal Tollway Limited is compared with the 8 companies closest to it by revenue in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ashoka Karadi Banwara Road Private Limited | ₹138.2 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Shapers Constructions Limited | ₹138.12 Cr (FY 2025) | 9.0% | Bhopal, Madhya Pradesh, India | |||
| Rockeira Engineering Private Limited | ₹137.74 Cr (FY 2025) | -3.0% | Hyderabad, Telangana, India | |||
| Ircon Vadodara Kim Expressway Limited | ₹137.68 Cr (FY 2025) | -18.0% | New Delhi, Delhi, India | |||
| Kaithal Tollway Limitedthis company | ₹137.17 Cr (FY 2025) | -₹256.15 Cr | -186.7% | -5.0% | 223 | Mumbai, Maharashtra, India |
| Baleshwar Kharagpur Expressway Limited | ₹137.04 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| RKC Infrabuilt (Tarapur-Vasad) Road Project Private Limited | ₹136.73 Cr (FY 2025) | 54.0% | Ahmedabad, Gujarat, India | |||
| GMR Ambala-Chandigarh Expressways Private Limited | ₹135.88 Cr (FY 2025) | 66.0% | Bangalore, Karnataka, India | |||
| GR Phagwara Expressway Private Limited | ₹135.7 Cr (FY 2025) | 234.0% | Udaipur, Rajasthan, India |
To see the full peer comparison of Kaithal Tollway Limited, buy the company report.
Auditor
Kaithal Tollway Limited is audited by MKPS & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MKPS & Associates | FY 2023 | 302014E |
Shareholding
The shareholding of Kaithal Tollway 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 Kaithal Tollway Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Nov 2025 | 101194636 | Others | ₹1,221.5 Cr | Open | |
| 29 Sep 2023 | 100799820 | Others | ₹482.74 Cr | Satisfied | |
| 02 Jan 2019 | 100241945 | Idbi Trusteeship Services Limited | ₹550 Cr | Satisfied | |
| 24 Jul 2015 | 10582592 | Idbi Trusteeship Services Limited | ₹1,400 Cr | Satisfied |
To see the full charge records of Kaithal Tollway Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Kaithal Tollway Limited has 1 deal on record (1 acquisition); the latest was in October 2025.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2025 | Acquisition | Undisclosed | Buyer: IRB InvT Fund Seller: Irb Infrastructure Trust |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Kaithal Tollway Limited has 8 court cases on record: 4 filed by Kaithal Tollway, 4 filed against it. 4 cases are pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 1 | 2 |
| District courts | 3 | 3 | 2 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed against the company by National Highways Authority of India | Pending |
| High Court of Delhi | Court case (OMP (ENF.) (COMM.)) | Filed by the company against National Highways Authority of India | Pending |
| District court, Hisar, Haryana | Court case (SUMM) | Filed against the company by State of Haryana | Pending |
| District court, Hisar, Haryana | Court case (ESI) | Filed against the company by an individual | Pending |
| High Court of Delhi | Court case (O.M.P.(MISC.)(COMM.)) | Filed by the company against National Highways Authority of India | Disposed |
To see the full case history of Kaithal Tollway 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.
Credit ratings & regulatory alerts
Kaithal Tollway Limited was last rated by Indiarating on 06 Aug 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 06 Aug 2021 |
To see the full credit ratings and regulatory alerts of Kaithal Tollway Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Kaithal Tollway Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Kaithal Tollway Limited has a workforce of 223 employees on its EPFO records as of Mar 30, 2024, across 1 active EPFO establishment.
GST
Kaithal Tollway has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCK5453R1ZT | Maharashtra | Active | 01 Jul 2017 |
| 06AAFCK5453R1ZX | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Kaithal Tollway Limited, buy the company report.
Recent activity
Kaithal Tollway Limited has 18 board changes on record since 2016: 4 appointments and 14 cessations. The latest: Anusha Chaitanya Date was appointed as Additional Director on 06 Nov 2025.
18 earlier events are in the company report.
News
Frequently asked questions
Kaithal Tollway is an active public limited company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 11 June 2014 (12+ years old) and is registered under CIN U45201MH2014PLC255454.
Kaithal Tollway has 4 current directors:
- Swapna Sadanand Vengurlekar - Additional Director
- Nikesh Moolchand Jain - Additional Director
- Rushabh Rakesh Gandhi - Additional Director
- Anusha Chaitanya Date - Additional Director
The latest financial statements of Kaithal Tollway on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 22 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Kaithal Tollway is 27AAFCK5453R1ZT, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 06AAFCK5453R1ZX (Haryana).
The CIN (Corporate Identification Number) of Kaithal Tollway is U45201MH2014PLC255454. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Kaithal Tollway has 8 court cases on record: 4 filed by the company and 4 filed against it. 4 are pending. Most are in the high courts.
Kaithal Tollway was incorporated on 11 June 2014, making it 12+ years old. It is registered with the Registrar of Companies, Mumbai.
Kaithal Tollway has 1 deal on record (1 acquisition); the latest was in October 2025.
The peers of Kaithal Tollway by revenue are Ashoka Karadi Banwara Road Private Limited, Shapers Constructions Limited, Rockeira Engineering Private Limited, Ircon Vadodara Kim Expressway Limited, Baleshwar Kharagpur Expressway Limited and 3 more, all in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Anusha Chaitanya Date was appointed as Additional Director on 06 Nov 2025. Nikesh Moolchand Jain was appointed as Additional Director on 06 Nov 2025. Rushabh Rakesh Gandhi was appointed as Additional Director on 06 Nov 2025. Kaithal Tollway has 18 board changes on record in total.
Kaithal Tollway can be reached through the website irb.co.in. Its registered office is in Mumbai, Maharashtra, India.
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