About Lucid Colloids Limited
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Lucid Colloids Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 23 May 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24311MH1996PLC099800. Its GSTIN is 27AAACL2673B1ZU (Maharashtra). The company holds 7 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹5.5 Cr. It was formerly known as Lucid Colloids Private Limited. It is led by directors including Uday Chaturbhuj Merchant (Managing Director) and Paolomi Uday Merchant (Whole-Time 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 401 Navbharat Estateszakaria Bunder Road Sewri (W), Mumbai, Maharashtra, India – 400015.
As per the financials filed for FY 2025, the company reported a revenue of ₹267.85 Cr, a growth of 5% compared to the previous year. For the same year it recorded a net profit of ₹10.61 Cr (net margin 4%) and EBITDA of ₹38.02 Cr (EBITDA margin 14.2%). Revenue has grown at a compounded annual rate (CAGR) of 16% over three years and 6% over five years.
The company has about 240 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: QMSIL and Lucid Colloids. As per MCA filings, the company has open charges of ₹305.06 Cr and satisfied charges of ₹439.58 Cr on record. Court records list 68 cases involving the company, including 46 filed by the company and 22 filed against it; 4 cases are pending. The company has 11 deals on record (10 secondary share transfers, 1 funding round), with disclosed funding of ₹75 Cr; the latest was in March 2019. The company has 13 MSME Form 1 returns on record between 2019 and 2024, listing 403 overdue payments to 110 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 lucidcolloids.com.
Company details
CIN history
Lucid Colloids has one previous CIN (Corporate Identification Number): L24311MH1996PLC099800. The current CIN is U24311MH1996PLC099800, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24311MH1996PLC099800 | Current |
| L24311MH1996PLC099800 | Previous |
Contact details
Lucid Colloids Limited's registered office is in Mumbai, Maharashtra. Its website is lucidcolloids.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address401 Navbharat Estateszakaria Bunder Road Sewri (W), Mumbai, Maharashtra, India – 400015
- IndustryChemicals and Materials, Specialty Chemicals
To see the full contact details of Lucid Colloids 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
Lucid Colloids operates two associated brands: QMSIL and Lucid Colloids. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers consulting, training, and inspections for quality standards, safety audits, and IT solutions. | qmsil.co.in | |
| Natural and modified hydrocolloid derivatives are manufactured, marketed, and distributed. | lucidcolloids.com |
Business activity
The main business activity of Lucid Colloids is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| 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 |
To see the full business activity and turnover split of Lucid Colloids Limited, buy the company report.
Financials of Lucid Colloids Limited
FY 2025 filings availableLucid Colloids Limited reported revenue of ₹267.85 Cr (up 5% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 6% over five years, including 5% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹38.02 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹10.61 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 | 14.2% | ||||
| Net Profit Margin | 4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Lucid Colloids Limited, buy the company report.
Board of directors and KMP of Lucid Colloids Limited
Lucid Colloids Limited currently reports 5 directors and 1 key managerial person. 9 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Uday Vasudeo Thakurdesai | Director | 01 Sep 2023 | 3 Years 1 Months | Current |
| Dineshchandra Babel Also directs: Indergiri Finance Limited. | Director | 01 Sep 2023 | 3 Years 1 Months | Current |
| Yogesh Vasantlal Vaza | Company Secretary | 01 Apr 2013 | 13 Years 6 Months | Current |
| Paolomi Uday Merchant | Whole-Time Director | 08 Jun 2022 | 4 Years 4 Months | Current |
| Uday Chaturbhuj Merchant Also directs: Lucid Agro Private Limited | Managing Director | 23 May 1996 | 30 Years 5 Months | Current |
| Shailaja Uday Merchant | Whole-Time Director | 01 Apr 2014 | 12 Years 6 Months | Current |
Auditor
Lucid Colloids Limited is audited by For G. M. Kapadia & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| For G. M. Kapadia & Co. | FY 2023 | 104767W |
Shareholding
The shareholding of Lucid Colloids 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 Lucid Colloids Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Sep 2025 | 101158003 | Others | ₹7.55 Cr | Open | |
| 09 Sep 2025 | 101158005 | Others | ₹4.85 Cr | Open | |
| 07 Aug 2025 | 101143001 | Standard Chartered Bank | ₹19 Cr | Open | |
| 31 Jul 2025 | 101142993 | Standard Chartered Bank | ₹1.5 Cr | Open | |
| 04 Apr 2025 | 101085965 | Others | ₹71.35 Lakh | Open |
To see the full charge records of Lucid Colloids Limited, buy the company report.
Total charge records: 27 View all charges
Deals & funding
Lucid Colloids Limited has 11 deals on record (10 secondary share transfers, 1 funding round), with disclosed funding of ₹75 Cr; the latest was in March 2019.
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Kum Design Private Limited , Lucid Technologies Private Limited, Uday C.Merchant HUF, an individual |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 2 individuals |
| Sep 2014 | Funding round | ₹75 Cr | Investors: International Finance Corporation |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
To see the full deal history of Lucid Colloids 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
Lucid Colloids Limited has 68 court cases on record: 46 filed by Lucid Colloids, 22 filed against it. 4 cases are pending and 64 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 51 | 14 | 1 |
| District courts | 15 | 7 | 2 |
| Supreme Court | 2 | 1 | 1 |
Cases on record (5 of 68)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2407-Indirect Taxation : Entry tax, motor vehicle tax, purchase tax, entertainment tax, terminal tax, octroi, toll tax, professional tax, Gold Control Act, Hotel Receipts Tax Act, Water and sewage Tax, luxury tax, Cess Acts) | Filed by the company against Jodhpur Vidyut Vitran Nigam Ltd. Managing Director New Power House ,Jodhpur , Rajasthan and 2 others | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against Schaefco International Pvt Ltd. | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against United India Insurance Co. Ltd. | Disposed |
| Bombay High Court | Writ petition | Filed by the company against United India Insurance Company Ltd. and Another | Disposed |
| Bombay High Court | Court case (SS) | Filed by the company against Dairy Den Ltd. | Disposed |
To see the full case history of Lucid Colloids 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
Lucid Colloids Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 403 overdue payments to 110 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 110)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Fitpack Textile Mills Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| Dharmraj Enterprise Private Limited |
To see the full MSME payment records of Lucid Colloids Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Lucid Colloids Limited has a workforce of 240 employees on its EPFO records as of Apr 05, 2024, across 2 active EPFO establishments.
GST
Lucid Colloids has 7 GST registrations: 4 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACL2673B1ZU | Maharashtra | Active | 01 Jul 2017 |
| 27AAACL2673B2ZT | Maharashtra | Active | 01 Jan 2020 |
| 08AAACL2673B1ZU | Rajasthan | Active | 01 Jul 2017 |
| 24AAACL2673B1Z0 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Lucid Colloids Limited, buy the company report.
Recent activity
Lucid Colloids Limited has 15 board changes on record since 1996: 6 appointments and 9 cessations. The latest: Dineshchandra Babel ceased to be Additional Director on 29 Sep 2023.
59 earlier events are in the company report.
Frequently asked questions
Lucid Colloids is an active public limited company based in Mumbai, Maharashtra, India. The company works in specialty chemicals, within the chemicals and materials industry. It was incorporated on 23 May 1996 (30+ years old) and is registered under CIN U24311MH1996PLC099800.
Lucid Colloids has 6 current directors and KMP:
- Uday Chaturbhuj Merchant - Managing Director
- Paolomi Uday Merchant - Whole-Time Director
- Shailaja Uday Merchant - Whole-Time Director
- Uday Vasudeo Thakurdesai - Director
- Dineshchandra Babel - Director
- Yogesh Vasantlal Vaza - Company Secretary
The latest financial statements of Lucid Colloids 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 Lucid Colloids is 27AAACL2673B1ZU, registered in Maharashtra. The company has 7 GST registrations in all, of which 4 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACL2673B2ZT (Maharashtra), 08AAACL2673B1ZU (Rajasthan), 24AAACL2673B1Z0 (Gujarat).
The CIN (Corporate Identification Number) of Lucid Colloids is U24311MH1996PLC099800. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Lucid Colloids has 68 court cases on record: 46 filed by the company and 22 filed against it. 4 are pending. Most are in the high courts.
Lucid Colloids was incorporated on 23 May 1996, making it 30+ years old. It is registered with the Registrar of Companies, Mumbai.
Lucid Colloids has 11 deals on record (10 secondary share transfers, 1 funding round), with disclosed funding of ₹75 Cr; the latest was in March 2019.
Dineshchandra Babel ceased to be Additional Director on 29 Sep 2023. Uday Vasudeo Thakurdesai ceased to be Additional Director on 29 Sep 2023. Dineshchandra Babel was appointed as Director on 01 Sep 2023. Lucid Colloids has 15 board changes on record in total.
Lucid Colloids has 13 MSME Form 1 returns on record between 2019 and 2024, listing 403 overdue payments to 110 micro and small suppliers. The latest return was filed on 04 Jul 2024.
Lucid Colloids can be reached through the website lucidcolloids.com. Its registered office is in Mumbai, Maharashtra, India.