India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#271- Valuation
- ₹21,050 Cr
2023 #223 2022 #303
Revenue · FY 2025
₹15,100 Cr
▼ 11% YoY
Net profit · FY 2025
₹119.31 Cr
Net margin 0.8%
EBITDA · FY 2025
₹261.46 Cr
EBITDA margin 1.7%
Authorised capital
₹71 Cr
Registered with MCA
Paid-up capital
₹21.17 Cr
Issued & subscribed
Open charges
₹6,304.43 Cr
Satisfied ₹1,730.43 Cr
Company age
19 yrs
Est. 2007
Employees · EPFO
1,461
Provident fund records
About Kiran Gems Private Limited
Data last updated:
Kiran Gems Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Kiran Gems Fzco. It operates in the watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 14 September 2007 and has been in existence for over 19 years.
Its director Mavji Patel and family are #590 among India's richest people (2026). Its director Babu Lakhani and family are #793 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U36912MH2007PTC174133. Its GSTIN is 27AADCK1665M1Z7 (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹71 Cr and a paid-up capital of ₹21.17 Cr. It is led by directors including Dinesh Mavjibhai Lakhani (Managing Director) and Babubhai Shamjibhai Lakhani.
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 Fe – 5011 Bharatdiamondbourse Gblbandrakurlacomplex Bandra(East), Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2025, the company reported a revenue of ₹15,100 Cr, a decline of 11% compared to the previous year. For the same year it recorded a net profit of ₹119.31 Cr (net margin 0.8%) and EBITDA of ₹261.46 Cr (EBITDA margin 1.7%). Revenue has grown at a compounded annual rate (CAGR) of 8% over five years.
The company has about 1,461 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 2 brands: Kiran Gems and Kiran Jewels India. As per MCA filings, the company has open charges of ₹6,304.43 Cr and satisfied charges of ₹1,730.43 Cr on record. Court records list 40 cases involving the company, including 10 filed by the company and 30 filed against it; 9 cases are pending. The company has 21 deals on record (13 funding rounds, 8 secondary share transfers), with disclosed funding of ₹1,319.11 Cr; the latest was in March 2025. Its 4 peer companies in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 3 larger and 1 smaller; the largest is Titan Company Limited with revenue of ₹60,942 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 kirangems.com.
Company details
CIN U36912MH2007PTC174133
Registration Number 174133
Incorporation Date 14 September 2007
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Kiran Gems Fzco
Compliance Status Active Compliant
Key People
Dinesh Mavjibhai Lakhani Managing Director Babubhai Shamjibhai Lakhani Director Mavjibhai Shamjibhai Patel Director Recognitions & Rankings of Kiran Gems
India's Richest People 2026 edition · 2 directors · Source: Hurun India
- #590 Mavji Patel & family ₹5,700 Cr
- #793 Babu Lakhani & family ₹3,900 Cr
Contact details
Kiran Gems Private Limited's registered office is in Mumbai, Maharashtra. Its website is kirangems.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressFe – 5011 Bharatdiamondbourse Gblbandrakurlacomplex Bandra(East), Mumbai, Maharashtra, India – 400051
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
To see the full contact details of Kiran Gems Private Limited, buy the company report.
Comprehensive company report
Kiran Gems 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
Kiran Gems operates two associated brands: Kiran Gems and Kiran Jewels India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Serves as a contract manufacturer specializing in natural polished diamonds. | kirangems.com | |
| Fine jewelry brand | kiranjewels.com |
Business activity
The main business activities of Kiran Gems are manufacturing and electricity, gas, steam and air condition supply. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities and electric power generation, transmission and distribution. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Kiran Gems Private Limited, buy the company report.
Financials of Kiran Gems Private Limited
FY 2025 filings availableKiran Gems Private Limited reported revenue of ₹15,100 Cr (down 11% YoY) for FY 2025.
Revenue · FY 2025
₹15,100 Cr ▼ 11%
Net profit · FY 2025
₹119.31 Cr margin 0.8%
EBITDA · FY 2025
₹261.46 Cr margin 1.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 11%
5 years · compounded
▲ 8%
EBITDA CAGR growth
1 year
▼ 58%
5 years · compounded
▼ 11%
Revenue fell 11% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. EBITDA fell 58% 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 | |||||
| Cost of Materials Consumed | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹261.46 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹119.31 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| 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 | 1.7% | ||||
| Net Profit Margin | 0.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
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| 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 Kiran Gems Private Limited, buy the company report.
Board of directors of Kiran Gems Private Limited
Kiran Gems has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Babubhai Shamjibhai Lakhani Also directs: Samast Patidar Aarogya Foundation | Director | 18 Sep 2007 | 19 Years 1 Months | Current |
| Mavjibhai Shamjibhai Patel | Director | 14 Sep 2007 | 19 Years 1 Months | Current |
| Dinesh Mavjibhai Lakhani Also directs: Woodstock Estate LLP, Assure Brilliant Diamonds LLP, Hanum Energy Private Limited and 1 more | Managing Director | 18 Sep 2007 | 19 Years 1 Months | Current |
Peer comparison
Kiran Gems Private Limited is compared with the 4 companies closest to it by revenue in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Titan Company Limited | ₹60,942 Cr (FY 2025) | 18.0% | Hosur, Tamil Nadu, India | |||
| Kundan Refinery Private Limited | ₹20,252 Cr (FY 2025) | 77.0% | New Delhi, Delhi, India | |||
| Gitanjali Gems Ltd | ₹16,831 Cr (FY 2017) | 19.0% | Mumbai, Maharashtra, India | |||
| Kiran Gems Private Limitedthis company | ₹15,100 Cr (FY 2025) | ₹119.31 Cr | 0.8% | -11.0% | 1,461 | Mumbai, Maharashtra, India |
| Swarn Shilp Chains & Jewellers Private Limited | ₹11,162 Cr (FY 2025) | 36.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Kiran Gems Private Limited, buy the company report.
Auditor
Kiran Gems Private Limited is audited by JHAVERI SHAH SHETH & CO. LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| JHAVERI SHAH SHETH & CO. LLP | FY 2024 | W100233 |
Shareholding
The shareholding of Kiran Gems Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2021 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Kiran Gems Private Limited, buy the company report.
Charges & borrowings
Open charges
₹6,304.43 Cr
Satisfied charges
₹1,730.43 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Mar 2025 | 101067710 | Others | ₹10.5 Cr | Open | |
| 26 Jun 2023 | 100733803 | Others | ₹130 Cr | Open | |
| 05 Aug 2021 | 100483991 | Others | ₹2.7 Lakh | Open | |
| 26 Feb 2019 | 100245456 | State Bank of India | ₹963.9 Cr | Open | |
| 20 Jun 2011 | 10294413 | State Bank of India | ₹2,400 Cr | Open |
To see the full charge records of Kiran Gems Private Limited, buy the company report.
Total charge records: 25 View all charges
Deals & funding
Kiran Gems Private Limited has 21 deals on record (13 funding rounds, 8 secondary share transfers), with disclosed funding of ₹1,319.11 Cr; the latest was in March 2025.
Total deals
21
Funding rounds
13
Secondary share transfers
8
Disclosed funding
₹1,319.11 Cr
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2025 | Funding round | ₹437.2 Cr | Investors: an individual |
| Nov 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2021 | Secondary share transfer | Undisclosed | Seller: an individual |
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
To see the full deal history of Kiran Gems 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
Kiran Gems Private Limited has 40 court cases on record: 10 filed by Kiran Gems, 30 filed against it. 9 cases are pending and 31 are disposed.
Total cases
40
Filed by the company
10
Filed against the company
30
Pending
9
Disposed
31
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 32 | 26 | 6 |
| High courts | 7 | 3 | 2 |
| Supreme Court | 1 | 1 | 1 |
Cases on record (5 of 40)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed against the company by Noorsons International Pvt Ltd and Another One in Ma 586/2026, Ba 802/2026 | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (SUMMARY CIVIL SUIT) | Filed by the company against M/S.Noorsons International Private Limited and 2 others | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI M A) | Filed against the company by Noorsons International Pvt Ltd and Another One in Appeal 292/2026, Ba 802/2026 | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI BAIL APPLN) | Filed against the company by Noorsons International Pvt Ltd and Another One in Appeal 292/2026, Ma 586/2026 | Disposed |
| High Court, MAHARASHTRA | Writ petition | Filed by the company against Bharat Diamond Bourse and 4 others | Disposed |
To see the full case history of Kiran Gems 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
Kiran Gems Private Limited was last rated by Care on 07 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Oct 2021 |
To see the full credit ratings and regulatory alerts of Kiran Gems Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Kiran Gems Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Kiran Gems has 2 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
2
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|
Employees & EPFO
Kiran Gems Private Limited has a workforce of 1,461 employees on its EPFO records as of Dec 05, 2024, across 2 active EPFO establishments.
Employee count
1,461
Active EPFO establishments
2
Employee growth
-3.69%
GST
Kiran Gems has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCK1665M1Z7 | Maharashtra | Active | 01 Jul 2017 |
| 24AADCK1665M1ZD | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Kiran Gems Private Limited, buy the company report.
Recent activity
Kiran Gems Private Limited has 7 board changes on record since 2007: 3 appointments and 4 cessations. The latest: Vallabhbhai Shamjibhai Patel ceased to be Director on 11 Mar 2024.
AGM
Kiran Gems Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Kiran Gems Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Charges
A charge with Others amounted to Rs. 10.50 Cr with Charge ID 101067710 was registered on 27 Mar 2025.
Charges
A charge with Sbicap Trustee Company Limited of Rs. 2,800.00 Cr registered on 14 Sep 2007 with Charge ID 10069794 was modified on 06 Sep 2024.
Ceased
Vallabhbhai Shamjibhai Patel ceased to be Director.
Charges
A charge with Others amounted to Rs. 130.00 Cr with Charge ID 100733803 was registered on 26 Jun 2023.
Charges
A charge registered on 05 Aug 2021 via Charge ID 100488026 with Others was fully satisfied on 09 Jan 2023.
Charges
A charge registered on 31 Jul 2020 via Charge ID 100357328 with State Bank Of India was fully satisfied on 13 Apr 2022.
Charges
A charge with Others amounted to Rs. 0.03 Cr with Charge ID 100483991 was registered on 05 Aug 2021.
Charges
A charge with Others amounted to Rs. 0.03 Cr with Charge ID 100488026 was registered on 05 Aug 2021.
Charges
A charge with State Bank Of India of Rs. 75.00 Cr registered on 31 Jul 2020 with Charge ID 100357328 was modified on 11 Nov 2020.
Charges
A charge with State Bank Of India amounted to Rs. 75.00 Cr with Charge ID 100357328 was registered on 31 Jul 2020.
45 earlier events are in the company report.
Frequently asked questions
Kiran Gems is an active private limited company based in Mumbai, Maharashtra, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 14 September 2007 (19+ years old) and is registered under CIN U36912MH2007PTC174133.
Kiran Gems has 3 current directors:
- Dinesh Mavjibhai Lakhani - Managing Director
- Babubhai Shamjibhai Lakhani - Director
- Mavjibhai Shamjibhai Patel - Director
The latest financial statements of Kiran Gems 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 Kiran Gems is 27AADCK1665M1Z7, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 24AADCK1665M1ZD (Gujarat).
The CIN (Corporate Identification Number) of Kiran Gems is U36912MH2007PTC174133. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Kiran Gems has 40 court cases on record: 10 filed by the company and 30 filed against it. 9 are pending. Most are in the district courts.
Kiran Gems was incorporated on 14 September 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
Kiran Gems has 21 deals on record (13 funding rounds, 8 secondary share transfers), with disclosed funding of ₹1,319.11 Cr; the latest was in March 2025.
The peers of Kiran Gems by revenue are Titan Company Limited, Kundan Refinery Private Limited, Gitanjali Gems Ltd, Swarn Shilp Chains & Jewellers Private Limited, all in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
Vallabhbhai Shamjibhai Patel ceased to be Director on 11 Mar 2024. Labhubhai Shamjibhai Lakhani ceased to be Director on 01 Jun 2019. Kalpesh Vallabhbhai Patel ceased to be Director on 01 Apr 2016. Kiran Gems has 7 board changes on record in total.
Kiran Gems can be reached through the website kirangems.com. Its registered office is in Mumbai, Maharashtra, India.
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