About Madhuri Refiners Private Limited
Data last updated:
Madhuri Refiners Private Limited is a private limited company based in Indore, Madhya Pradesh, India. It operates in the edible oils and cooking fats segment of the food and beverages sector. It was incorporated on 20 March 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN U23201MP1995PTC009194. Its GSTIN is 23AABCM1884C1ZV (Madhya Pradesh). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹5.5 Cr and a paid-up capital of ₹5.1 Cr. It is led by directors Niranjan Desai and Jai Desai.
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 Indore, Madhya Pradesh.
As per the financials filed for FY 2025, the company reported a revenue of ₹919.33 Cr, a growth of 32% compared to the previous year. For the same year it recorded a net profit of ₹2.82 Cr (net margin 0.3%) and EBITDA of ₹10.52 Cr (EBITDA margin 1.1%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years and 9% over five years.
The company is associated with 2 brands: Anantya Organics and Madhuri Oils. As per MCA filings, the company has open charges of ₹132.77 Cr and satisfied charges of ₹40.39 Cr on record. Court records list 12 cases involving the company, including 11 filed by the company; 6 cases are pending. The company has 4 deals on record (4 secondary share transfers); the latest was in July 2023. Its 10 peer companies in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution) are compared by revenue, 5 larger and 5 smaller; the largest is S B M and Company Private Limited. The company has 5 MSME Form 1 returns on record between 2019 and 2021, listing 57 overdue payments to 8 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 madhurioils.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressUnit No. 301 Princess Empire, 12 Race Course Road, Indore, Madhya Pradesh, India – 452001
- IndustryFood and Beverages, Edible Oils & Cooking Fats, Food & Beverage Retail & Distribution
- 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
- One PDF report, delivered after checkout
Business Activity of Madhuri Refiners Private Limited
The main business activity of Madhuri Refiners is trade. In detail, this covers wholesale trading.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Madhuri Refiners Private Limited FY 2025 filings available
Madhuri Refiners Private Limited reported revenue of ₹919.33 Cr (up 32% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Madhuri Refiners Private Limited
Revenue rose 32% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 9%. EBITDA rose 16% 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 of Madhuri Refiners Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹10.52 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹2.82 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 of Madhuri Refiners Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 1.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.3% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Madhuri Refiners are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Madhuri Refiners Private Limited
Madhuri Refiners Private Limited is compared with the companies closest to it by revenue in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| S B M and Company Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| Lakhpat Trading and Industrys Private Limited | •••• | •••• | •••• | •••• | - | Jodhpur, Rajasthan, India |
| Kush Proteins Private Limited | •••• | •••• | •••• | •••• | - | Anand, Gujarat, India |
| Ramdevbaba Solvent Limited | •••• | •••• | •••• | •••• | - | Nagpur, Maharashtra, India |
| Mrs Realty Private Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
| Madhuri Refiners Private Limited this company | •••• | •••• | •••• | •••• | - | Indore, Madhya Pradesh, India |
| Gajanan Oil Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Malani Dairy Private Limited | •••• | •••• | •••• | •••• | - | Jodhpur, Rajasthan, India |
| Vinay Industries Limited | •••• | •••• | •••• | •••• | - | Daskoi, Gujarat, India |
| Sundrop Brands Limited Listed | •••• | •••• | •••• | •••• | 413 | Secunderabad, Telangana, India |
| Shiv Edibles Limited | •••• | •••• | •••• | •••• | 138 | Kota, Rajasthan, India |
Peers are the five companies nearest above and the five nearest below Madhuri Refiners by revenue in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Madhuri Refiners Private Limited
Madhuri Refiners Private Limited is audited by A.B.DOSHI & CO for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| A.B.DOSHI & CO | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Madhuri Refiners Private Limited
Madhuri Refiners has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Niranjan Desai | Director | 20 Mar 1995 | 31 Years 6 Months | Current |
| Jai Desai Also directs: Nikhil Commodity and Derivatives Private Limited, Bright Agritrade LLP, Om Niranjan Luxury LLP and 1 more | Director | 31 Jul 2012 | 14 Years 2 Months | Current |
Ownership and Shareholding of Madhuri Refiners Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Madhuri Refiners Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 03 Apr 2025 | Hdfc Bank Limited | ₹10 Cr | Open |
| 11 Oct 2022 | Others | ₹52.95 Cr | Open |
| 18 Jul 2022 | Hdfc Bank Limited | ₹69.66 Cr | Open |
| 11 May 2022 | Hdfc Bank Limited | ₹15.94 Lakh | Open |
| 28 Feb 2020 | Axis Bank Limited | ₹35 Lakh | Satisfied |
Total charge records: 10 View all charges
Deals & Funding of Madhuri Refiners Private Limited
Madhuri Refiners Private Limited has 4 deals on record (4 secondary share transfers); the latest was in July 2023.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2023 | Secondary share transfer | Undisclosed | Buyer: Nirav Desai HUF, Jai Desai HUF, 2 individuals Seller: 4 individuals |
| Jul 2023 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: an individual |
| Feb 2013 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 3 individuals |
| Aug 2012 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 4 individuals |
Full deal history
All 4 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Madhuri Refiners Private Limited
Madhuri Refiners Private Limited has 12 court cases on record: 11 filed by Madhuri Refiners, 1 where it is another party. 6 cases are pending and 6 are disposed. Status as checked between 28 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 11 | 0 | 6 |
| High courts | 1 | 0 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Court case (FAO (COMM)) | Filed by the company against Omshree Agro Tech Private Limited | Disposed |
| District court, South, Delhi | Commercial suit | Filed by the company against Omshree Agro Tech Private Limited | Disposed |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed by the company against New Bharat Traders | Pending |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed by the company against Medhaswi Treading Company | Pending |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed by the company against Paras Trading Company | Pending |
Full case history
All 12 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Madhuri Refiners Private Limited
Madhuri Refiners Private Limited has 5 MSME Form 1 returns on record between 2019 and 2021, listing 57 overdue payments to 8 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 8)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Hariom Printing Enterprises | •••• | •••• | •••• |
| Alok Industries | •••• | •••• | •••• |
| Pahadia Vanijya Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Shree Packers (MP) Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 5 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Madhuri Refiners Private Limited
Madhuri Refiners operates two associated brands: Anantya Organics and Madhuri Oils. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Sells certified organic cold-pressed oils online for health and sustainability. | anantyaorganics.com | |
| Manufactures and distributes edible oils like groundnut and soybean. | madhurioils.com |
Employees and EPFO Compliance at Madhuri Refiners Private Limited
Employment history and EPFO contributions of people linked to Madhuri Refiners.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Madhuri Refiners Private Limited
Madhuri Refiners Private Limited has 8 board changes on record since 1995: 5 appointments and 3 cessations. The latest: Tarachand Jain ceased to be Director on 14 Aug 2012.
21 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Madhuri Refiners Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Madhuri Refiners Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Madhuri Refiners Private Limited
Madhuri Refiners has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AABCM1884C1ZV | Madhya Pradesh | Active | 01 Jul 2017 |
| 27AABCM1884C1ZN | Maharashtra | Active | 26 Oct 2021 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Madhuri Refiners Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Madhuri Refiners Private Limited
Madhuri Refiners is an active private limited company based in Indore, Madhya Pradesh, India. The company works in edible oils and cooking fats, within the food and beverages industry. It was incorporated on 20 March 1995 (31+ years old) and is registered under CIN U23201MP1995PTC009194.
Madhuri Refiners reported revenue of ₹919.33 Cr for FY 2025 (up 32% YoY).
Madhuri Refiners has 2 current directors:
- Niranjan Desai - Director
- Jai Desai - Director
Madhuri Refiners reported a net profit of ₹2.82 Cr (net margin 0.3%) and EBITDA of ₹10.52 Cr (EBITDA margin 1.1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Madhuri Refiners is -23% over three years and -9% over five years. In the latest year (FY 2025) revenue rose 32%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Madhuri Refiners is 23AABCM1884C1ZV, registered in Madhya Pradesh. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 27AABCM1884C1ZN (Maharashtra).
The CIN (Corporate Identification Number) of Madhuri Refiners is U23201MP1995PTC009194. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Madhuri Refiners has 12 court cases on record: 11 filed by the company. 6 are pending. Most are in the district courts.
Madhuri Refiners was incorporated on 20 March 1995, making it 31+ years old. It is registered with the Registrar of Companies, Gwalior.
Madhuri Refiners has 4 deals on record (4 secondary share transfers); the latest was in July 2023.
The peers of Madhuri Refiners by revenue are S B M and Company Private Limited, Lakhpat Trading and Industrys Private Limited, Kush Proteins Private Limited, Ramdevbaba Solvent Limited, Mrs Realty Private Limited and 5 more, all in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution).
Tarachand Jain ceased to be Director on 14 Aug 2012. Jai Desai was appointed as Director on 31 Jul 2012. Krishna Jain ceased to be Director on 01 Jul 2011. Madhuri Refiners has 8 board changes on record in total.