India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#386- Valuation
- ₹13,990 Cr
Revenue · FY 2025
₹2,146.71 Cr
▲ 24% YoY
Net profit · FY 2025
₹181.36 Cr
Net margin 8.4%
EBITDA · FY 2025
₹358.74 Cr
EBITDA margin 16.7%
Authorised capital
₹20 Cr
Registered with MCA
Paid-up capital
₹17.23 Cr
Issued & subscribed
Open charges
₹1,627.01 Cr
Satisfied ₹1,008.34 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
1,165
Provident fund records
About Kandhari Beverages Private Limited
Data last updated:
Kandhari Beverages Private Limited is a private limited company based in Amritsar, Punjab, India. It operates in the non-alcoholic beverage manufacturing and distribution segment of the food and beverages sector. It was incorporated on 06 April 1993 and has been in existence for over 33 years.
Its director Jaspal Singh Kandhari and family are #478 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U15549PB1993PTC013213. The company has 2 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹17.23 Cr. It is led by directors including Jaspal Singh Kandhari (Managing Director) and Bikramjit Singh Kandhari (Managing Director).
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 21 Canal Colony Near District Administration Complex Amritsar, Punjab, India – 143001.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,146.71 Cr, a growth of 24% compared to the previous year. For the same year it recorded a net profit of ₹181.36 Cr (net margin 8.4%) and EBITDA of ₹358.74 Cr (EBITDA margin 16.7%). Revenue has grown at a compounded annual rate (CAGR) of 23% over three years.
The company has about 1,165 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries.
The company is associated with 1 brand: Kandhari Beverages. As per MCA filings, the company has open charges of ₹1,627.01 Cr and satisfied charges of ₹1,008.34 Cr on record. Court records list 118 cases involving the company, including 40 filed by the company and 79 filed against it; 32 cases are pending. The company has 2 deals on record (2 secondary share transfers); the latest was in April 2020. Its 5 peer companies in the Cleantech industry (Non Alcoholic Beverages, Wind Power), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 2 larger and 3 smaller; the largest is Sterling Agro Industries Limited with revenue of ₹2,239.77 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 kbl.net.in.
Company details
CIN U15549PB1993PTC013213
Registration Number 013213
Incorporation Date 06 April 1993
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
Key People
Jaspal Singh Kandhari Managing Director Bikramjit Singh Kandhari Managing Director Anil Kumar Sharma Director Recognitions & Rankings of Kandhari Beverages
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #478 Jaspal Singh Kandhari & family ₹7,300 Cr
Contact details
Kandhari Beverages Private Limited's registered office is in Amritsar, Punjab. Its website is kbl.net.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address21 Canal Colony Near District Administration Complex Amritsar, Punjab, India – 143001
- IndustryFood and Beverages, Non-Alcoholic Beverage Manufacturing & Distribution
To see the full contact details of Kandhari Beverages Private Limited, buy the company report.
Comprehensive company report
Kandhari Beverages 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
Kandhari Beverages operates one associated brand: Kandhari Beverages. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Kandhari Beverages is a brand specializing in carbonated soft drinks, bottled water, and juices. | kbl.net.in |
Business activity
The main business activity of Kandhari Beverages is manufacturing. In detail, this covers food, beverages and tobacco products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products |
To see the full business activity and turnover split of Kandhari Beverages Private Limited, buy the company report.
Financials of Kandhari Beverages Private Limited
FY 2025 filings availableKandhari Beverages Private Limited reported revenue of ₹2,146.71 Cr (up 24% YoY) for FY 2025.
Revenue · FY 2025
₹2,146.71 Cr ▲ 24%
Net profit · FY 2025
₹181.36 Cr margin 8.4%
EBITDA · FY 2025
₹358.74 Cr margin 16.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 24%
3 years · compounded
▲ 23%
EBITDA CAGR growth
1 year
▲ 36%
3 years · compounded
▲ 22%
Revenue has grown at a compounded annual rate (CAGR) of 23% over three years, including 24% growth in the latest year. EBITDA rose 36% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹2,146.71 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹358.74 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹181.36 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 16.7% | ||||
| Net Profit Margin | 8.4% | ||||
| 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 Kandhari Beverages Private Limited, buy the company report.
Board of directors of Kandhari Beverages Private Limited
Kandhari Beverages has 5 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anil Kumar Sharma | Director | 14 Nov 2009 | 16 Years 11 Months | Current |
| Kewal Krishan Uppal Also directs: Kandhari Skills & Development Center Private Limited | Director | 17 Jan 2001 | 25 Years 9 Months | Current |
| Jaspal Singh Kandhari Also directs: NJ Food Products LLP, Kandhari Developers Private Limited, Farmers Dairy Products (India) Private Limited and 5 more | Managing Director | 16 Apr 1993 | 33 Years 6 Months | Current |
| Bikramjit Singh Kandhari Also directs: Kandhari Developers Private Limited, Crystal Energy and Foods Private Limited, Chandigarh Beverages Pvt Ltd and 2 more | Managing Director | 01 Apr 2013 | 13 Years 6 Months | Current |
| Sarabjit Grewal Singh Also directs: Kandhari Skills & Development Center Private Limited | Director | 03 Aug 1998 | 28 Years 2 Months | Current |
Peer comparison
Kandhari Beverages Private Limited is compared with the 5 companies closest to it by revenue in the Cleantech industry (Non Alcoholic Beverages, Wind Power), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sterling Agro Industries Limited | ₹2,239.77 Cr (FY 2025) | 3.0% | New Delhi, Delhi, India | |||
| Bannari Amman Sugars Limited | ₹2,227.02 Cr (FY 2024) | -13.0% | Coimbatore, Tamil Nadu, India | |||
| Kandhari Beverages Private Limitedthis company | ₹2,146.71 Cr (FY 2025) | ₹181.36 Cr | 8.4% | 24.0% | 1,165 | Amritsar, Punjab, India |
| Surya Food and Agro Limited | ₹2,074.13 Cr (FY 2025) | 9.0% | Uttar Pradesh, India | |||
| Vijay Solvex Limited | ₹1,832.61 Cr (FY 2025) | 0.0% | Alwar, Rajasthan, India | |||
| Desai Brothers Ltd | ₹1,799.19 Cr (FY 2025) | 1.0% | Pune, Maharashtra, India |
To see the full peer comparison of Kandhari Beverages Private Limited, buy the company report.
Auditor
Kandhari Beverages Private Limited is audited by BD BANSAL & CO. for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BD BANSAL & CO. | FY 2025 | 0000621N |
Shareholding
The shareholding of Kandhari Beverages Private Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Kandhari Beverages Private Limited, buy the company report.
Charges & borrowings
Open charges
₹1,627.01 Cr
Satisfied charges
₹1,008.34 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Mar 2026 | 101277042 | Hdfc Bank Limited | ₹8.09 Cr | Open | |
| 31 Mar 2026 | 101277056 | Hdfc Bank Limited | ₹1.39 Cr | Open | |
| 30 Jan 2026 | 101239886 | Hdfc Bank Limited | ₹2.01 Cr | Open | |
| 09 Jan 2026 | 101226249 | Others | ₹25 Cr | Open | |
| 09 Jan 2026 | 101226255 | Others | ₹100 Cr | Open |
To see the full charge records of Kandhari Beverages Private Limited, buy the company report.
Total charge records: 74 View all charges
Deals & funding
Kandhari Beverages Private Limited has 2 deals on record (2 secondary share transfers); the latest was in April 2020.
Total deals
2
Secondary share transfers
2
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2007 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Kandhari Beverages Private Limited has 118 court cases on record: 40 filed by Kandhari Beverages, 79 filed against it. 32 cases are pending and 86 are disposed.
Total cases
118
Filed by the company
40
Filed against the company
79
Pending
32
Disposed
86
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 72 | 50 | 14 |
| High courts | 42 | 28 | 17 |
| Supreme Court | 4 | 1 | 1 |
Cases on record (5 of 118)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Chandigarh | Arbitration matter | Filed against the company by Suzlon Energy Ltd | Pending |
| High Court of Punjab and Haryana | Appeal | Filed against the company by Suzlon Energy Ltd | Pending |
| Supreme Court | Court case (Special Leave Petition (Civil)) | Filed by the company against Suzlon Energy Ltd | Pending |
| High Court, CHANDIGARH (UT) | Court case (FAO-CARB) | Filed against the company by Suzlon Energy Ltd | Pending |
| District court, Chandigarh | Execution petition | Filed by the company against Suzlon Energy Ltd | Pending |
To see the full case history of Kandhari Beverages 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.
Credit ratings & regulatory alerts
Kandhari Beverages Private Limited was last rated by Icra on 30 Sep 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 30 Sep 2021 |
To see the full credit ratings and regulatory alerts of Kandhari Beverages Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Kandhari Beverages Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Kandhari Beverages has 4 subsidiary companies. This group structure data is as of FY 2025. The table lists each entity with its relationship and holding.
4
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Farmers Dairy Products (India) Private Limited | U01210PB2003PTC026378 | |
| Haryana Drinks Private Limited | U15541PB1982PTC005044 | |
| R.V. Steels Private Limited | U27105TN1992PTC023082 | |
| JSK Multi Products Private Limited | U92130CH2008PTC031277 |
To see the full group structure of Kandhari Beverages Private Limited, buy the company report.
Employees & EPFO
Kandhari Beverages Private Limited has a workforce of 1,165 employees on its EPFO records as of Oct 10, 2025, across 6 active EPFO establishments.
Employee count
1,165
Active EPFO establishments
6
Employee growth
-8.34%
GST
Kandhari Beverages has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
Total GSTINs
2
Cancelled / inactive
2
To see the full GST registrations and return filing status of Kandhari Beverages Private Limited, buy the company report.
Recent activity
Kandhari Beverages Private Limited has 11 board changes on record since 1993: 6 appointments and 5 cessations. The latest: Rana Sher Singh ceased to be Director on 08 Feb 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 8.09 Cr with Charge ID 101277042 was registered on 31 Mar 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 1.39 Cr with Charge ID 101277056 was registered on 31 Mar 2026.
Charges
A charge registered on 20 Dec 2019 via Charge ID 100313707 with Hdfc Bank Limited was fully satisfied on 12 Mar 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 2.01 Cr with Charge ID 101239886 was registered on 30 Jan 2026.
Charges
A charge with Others amounted to Rs. 25.00 Cr with Charge ID 101226249 was registered on 09 Jan 2026.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 101226255 was registered on 09 Jan 2026.
AGM
Kandhari Beverages Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others of Rs. 100.00 Cr registered on 25 Jul 2025 with Charge ID 101138298 was modified on 30 Sep 2025.
Charges
A charge registered on 19 Nov 2019 via Charge ID 100307567 with Hdfc Bank Limited was fully satisfied on 16 Aug 2025.
Charges
A charge registered on 08 Aug 2019 via Charge ID 100288171 with Hdfc Bank Limited was fully satisfied on 16 Aug 2025.
Charges
A charge with Hdfc Bank Limited of Rs. 130.00 Cr registered on 15 Sep 2022 with Charge ID 100613875 was modified on 02 Aug 2025.
Charges
A charge with Hdfc Bank Limited of Rs. 30.00 Cr registered on 20 Dec 2019 with Charge ID 100313707 was modified on 02 Aug 2025.
170 earlier events are in the company report.
Frequently asked questions
Kandhari Beverages is an active private limited company based in Amritsar, Punjab, India. The company works in non-alcoholic beverage manufacturing and distribution, within the food and beverages industry. It was incorporated on 06 April 1993 (33+ years old) and is registered under CIN U15549PB1993PTC013213.
Kandhari Beverages has 5 current directors:
- Jaspal Singh Kandhari - Managing Director
- Bikramjit Singh Kandhari - Managing Director
- Anil Kumar Sharma - Director
- Kewal Krishan Uppal - Director
- Sarabjit Grewal Singh - Director
The latest financial statements of Kandhari Beverages 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.
No. Kandhari Beverages has 2 GST registrations on record and all of them are cancelled or inactive.
The CIN (Corporate Identification Number) of Kandhari Beverages is U15549PB1993PTC013213. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Kandhari Beverages has 118 court cases on record: 40 filed by the company and 79 filed against it. 32 are pending. Most are in the district courts.
Kandhari Beverages was incorporated on 06 April 1993, making it 33+ years old. It is registered with the Registrar of Companies, Chandigarh.
Kandhari Beverages has 2 deals on record (2 secondary share transfers); the latest was in April 2020.
The peers of Kandhari Beverages by revenue are Sterling Agro Industries Limited, Bannari Amman Sugars Limited, Surya Food and Agro Limited, Vijay Solvex Limited, Desai Brothers Ltd, all in the Cleantech industry (Non Alcoholic Beverages, Wind Power), with the same principal business activity (food, beverages and tobacco products).
Rana Sher Singh ceased to be Director on 08 Feb 2023. Ashish Kumar Sethi ceased to be Director on 30 Jul 2021. Vipenjeet Kaur Banger was appointed as Company Secretary on 01 Oct 2019. Kandhari Beverages has 11 board changes on record in total.
Kandhari Beverages can be reached through the website kbl.net.in. Its registered office is in Amritsar, Punjab, India.