About Athena Drug Delivery Solutions Private Limited
Data last updated:
Athena Drug Delivery Solutions Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Athena Pharmaceutiques Sas. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 16 November 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24230MH1995PTC094546. Its GSTIN is 27AAACE9894R1ZJ (Maharashtra).
The company has an authorised share capital of ₹50.75 Cr and a paid-up capital of ₹27.83 Cr. It was formerly known as Ethypharm Ll Private Limited and Lloyds Laboratories Limited. It is led by directors including Mahendra Baliram Chaudhari (Managing Director) and Alexandre Luc Williams (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 April 2025, and its latest financial statements are for the year ended 31 December 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹101.46 Cr, a growth of 14% compared to the previous year. For the same year it recorded a net profit of ₹8.06 Cr (net margin 7.9%) and EBITDA of ₹15.7 Cr (EBITDA margin 15.5%). Revenue has grown at a compounded annual rate (CAGR) of 24% over three years and 23% over five years.
The company has about 178 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹78.5 Cr and satisfied charges of ₹36.48 Cr on record. Court records list 12 cases involving the company, including 8 filed by the company and 4 filed against it. The company has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹4.14 Cr; the latest was in June 2025. The company has 14 MSME Form 1 returns on record between 2018 and 2024, listing 632 overdue payments to 39 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 athenapharmaceutiques.com.
Company details
Name history
Athena Drug Delivery Solutions has undergone 3 name changes throughout its history. The company was previously known as Ethypharm Ll Private Limited, Lloyds Laboratories Limited, and Dds Athena Private Limited. The current legal name is Athena Drug Delivery Solutions Private Limited.
| Company Name | Status |
|---|---|
| Athena Drug Delivery Solutions Private Limited | Current |
| Ethypharm Ll Private Limited | Previous |
| Lloyds Laboratories Limited | Previous |
| Dds Athena Private Limited | Previous |
Contact details
Athena Drug Delivery Solutions Private Limited's registered office is in Mumbai, Maharashtra. Its website is athenapharmaceutiques.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address602 6th Floor Tower – II 'Star Hub' International Airport Road Sahar Andh, Eri (E), Mumbai, Maharashtra, India – 400059
- IndustryPharma, Drug Formulation & Development, API Manufacturers
To see the full contact details of Athena Drug Delivery Solutions 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
Financials of Athena Drug Delivery Solutions Private Limited
FY 2024 filings availableAthena Drug Delivery Solutions Private Limited reported revenue of ₹101.46 Cr (up 14% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 23% over five years, including 14% growth in the latest year. EBITDA fell 21% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹101.46 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹15.7 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹8.06 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 15.5% | ||||
| Net Profit Margin | 7.9% | ||||
| 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 Athena Drug Delivery Solutions Private Limited, buy the company report.
Board of directors of Athena Drug Delivery Solutions Private Limited
Athena Drug Delivery Solutions has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahendra Baliram Chaudhari | Managing Director | 10 Apr 2018 | 8 Years 6 Months | Current |
| Alexandre Luc Williams | Whole-Time Director | 08 Mar 2011 | 15 Years 7 Months | Current |
| Maryline Williams | Director | 06 Apr 2017 | 9 Years 6 Months | Current |
Auditor
Athena Drug Delivery Solutions Private Limited is audited by Udyen Jain & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Udyen Jain & Associates | FY 2023 | 116336W |
Shareholding
The shareholding of Athena Drug Delivery Solutions 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 Athena Drug Delivery Solutions Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Jul 2025 | 101132259 | Others | ₹4.5 Cr | Open | |
| 30 May 2022 | 100581622 | Others | ₹2 Cr | Open | |
| 30 May 2022 | 100581623 | Others | ₹3 Cr | Open | |
| 09 Apr 2021 | 100443184 | Axis Bank Limited | ₹69 Cr | Open | |
| 14 Aug 2020 | 100372084 | Axis Bank Limited | ₹1.19 Cr | Satisfied |
To see the full charge records of Athena Drug Delivery Solutions Private Limited, buy the company report.
Total charge records: 10 View all charges
Deals & funding
Athena Drug Delivery Solutions Private Limited has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹4.14 Cr; the latest was in June 2025.
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2025 | Funding round | ₹35.9 Lakh | Investors: 4 individuals |
| Nov 2021 | Rights issue | ₹2.81 Cr | Investors: Athena Pharmaceutiques Sas |
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: an individual |
| Dec 2017 | Funding round | ₹3.78 Cr | Investors: Athena Pharmaceutiques Sas |
| Feb 2011 | Secondary share transfer | Undisclosed | Buyer: Athena Pharmaceutiques Sas, an individual Seller: Ethypharm Asia Company Limited, Ethypharm Sa |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Athena Drug Delivery Solutions Private Limited has 12 court cases on record: 8 filed by Athena Drug Delivery Solutions, 4 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 9 | 4 | 0 |
| District courts | 3 | 0 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Arbitration matter | Filed by the company against Baron Trading Private Limited. | Disposed |
| Bombay High Court | Court case (SS) | Filed against the company by Make Waves Sea Resort Pvt Ltd | Disposed |
| District court, Thane, Maharashtra | Court case (Spl .Dkst) | Filed by the company against an individual | Disposed |
| District court, Thane, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against an individual | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against an individual | Disposed |
To see the full case history of Athena Drug Delivery Solutions 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
Athena Drug Delivery Solutions Private Limited has 14 MSME Form 1 returns on record between 2018 and 2024, listing 632 overdue payments to 39 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 39)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Ambit Triangle Safety | |||
| Anatek Services Private Limited | |||
| an individual supplier | |||
| Pharmaffiliates Private Limited |
To see the full MSME payment records of Athena Drug Delivery Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Athena Drug Delivery Solutions Private Limited has a workforce of 178 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Athena Drug Delivery Solutions has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACE9894R1ZJ | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Athena Drug Delivery Solutions Private Limited, buy the company report.
Recent activity
Athena Drug Delivery Solutions Private Limited has 14 board changes on record since 2008: 3 appointments and 11 cessations. The latest: Alexandre Luc Williams ceased to be Managing Director on 10 Nov 2021.
30 earlier events are in the company report.
Frequently asked questions
Athena Drug Delivery Solutions is an active private limited company based in Mumbai, Maharashtra, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 16 November 1995 (31+ years old) and is registered under CIN U24230MH1995PTC094546.
Athena Drug Delivery Solutions has 3 current directors:
- Mahendra Baliram Chaudhari - Managing Director
- Alexandre Luc Williams - Whole-Time Director
- Maryline Williams - Director
The latest financial statements of Athena Drug Delivery Solutions on record with the MCA are for the year ended 31 December 2024. Its last annual general meeting was held on 29 April 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Athena Drug Delivery Solutions is 27AAACE9894R1ZJ, registered in Maharashtra.
The CIN (Corporate Identification Number) of Athena Drug Delivery Solutions is U24230MH1995PTC094546. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Athena Drug Delivery Solutions has 12 court cases on record: 8 filed by the company and 4 filed against it. Most are in the high courts.
Athena Drug Delivery Solutions was incorporated on 16 November 1995, making it 31+ years old. It is registered with the Registrar of Companies, Mumbai.
Athena Drug Delivery Solutions has 5 deals on record (2 funding rounds, 2 secondary share transfers, 1 rights issue), with disclosed funding of ₹4.14 Cr; the latest was in June 2025.
Alexandre Luc Williams ceased to be Managing Director on 10 Nov 2021. Mahendra Baliram Chaudhari ceased to be Director on 10 Nov 2021. Mahendra Baliram Chaudhari was appointed as Managing Director on 10 Apr 2018. Athena Drug Delivery Solutions has 14 board changes on record in total.
Athena Drug Delivery Solutions has 14 MSME Form 1 returns on record between 2018 and 2024, listing 632 overdue payments to 39 micro and small suppliers. The latest return was filed on 17 May 2024.
Athena Drug Delivery Solutions can be reached through the website athenapharmaceutiques.com. Its registered office is in Mumbai, Maharashtra, India.