About Madhuri Refiners Private Limited
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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 12 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 3 peer companies in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution), with the same principal business activity (wholesale trading) are compared by revenue, 2 larger and 1 smaller; the largest is S B M and Company Private Limited with revenue of ₹958.94 Cr. 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.
Company details
Contact details
Madhuri Refiners Private Limited's registered office is in Indore, Madhya Pradesh. Its website is madhurioils.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- 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
To see the full contact details of Madhuri Refiners 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
Brands
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 |
Business activity
The main business activity of Madhuri Refiners is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Madhuri Refiners Private Limited, buy the company report.
Financials of Madhuri Refiners Private Limited
FY 2025 filings availableMadhuri Refiners Private Limited reported revenue of ₹919.33 Cr (up 32% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹10.52 Cr | ||||
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| Net Profit (PAT) | ₹2.82 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 1.1% | ||||
| Net Profit Margin | 0.3% | ||||
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To see the full financial statements and ratios of Madhuri Refiners Private Limited, buy the company report.
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 7 Months | Current |
| Jai Desai Also directs: Nikhil Commodity and Derivatives Private Limited, Bright Agritrade LLP, Om Niranjan Luxury LLP and 2 more | Director | 31 Jul 2012 | 14 Years 2 Months | Current |
Peer comparison
Madhuri Refiners Private Limited is compared with the 3 companies closest to it by revenue in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| S B M and Company Private Limited | ₹958.94 Cr (FY 2025) | 13.0% | New Delhi, Delhi, India | |||
| Mrs Realty Private Limited | ₹924.38 Cr (FY 2025) | 16.0% | Kolkata, West Bengal, India | |||
| Madhuri Refiners Private Limitedthis company | ₹919.33 Cr (FY 2025) | ₹2.82 Cr | 0.3% | 32.0% | Indore, Madhya Pradesh, India | |
| Malani Dairy Private Limited | ₹916.76 Cr (FY 2025) | 126.0% | Jodhpur, Rajasthan, India |
To see the full peer comparison of Madhuri Refiners Private Limited, buy the company report.
Auditor
Madhuri Refiners Private Limited is audited by A.B.DOSHI & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A.B.DOSHI & CO | FY 2023 | 001577C |
Shareholding
The shareholding of Madhuri Refiners 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 Madhuri Refiners Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 Apr 2025 | 101087333 | Hdfc Bank Limited | ₹10 Cr | Open | |
| 11 Oct 2022 | 100615303 | Others | ₹52.95 Cr | Open | |
| 18 Jul 2022 | 100598764 | Hdfc Bank Limited | ₹69.66 Cr | Open | |
| 11 May 2022 | 100580291 | Hdfc Bank Limited | ₹15.94 Lakh | Open | |
| 28 Feb 2020 | 100327834 | Axis Bank Limited | ₹35 Lakh | Satisfied |
To see the full charge records of Madhuri Refiners Private Limited, buy the company report.
Total charge records: 10 View all charges
Deals & funding
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 |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Madhuri Refiners Private Limited has 12 court cases on record: 12 filed by Madhuri Refiners. 6 cases are pending and 6 are disposed.
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 & Anr. | Disposed |
| District court, South, Delhi | Commercial suit | Filed by the company against Omshree Agro Tech Private Limited and Ors. and 2 others | Disposed |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed by the company against Medhaswi Treading Company Through Koshiki Mishra and 1 other | Pending |
| District court, Indore, Madhya Pradesh | Court case (UN CR) | Filed by the company against New Bharat Traders and 1 other | Pending |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed by the company against individuals | Pending |
To see the full case history of Madhuri Refiners 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
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 |
To see the full MSME payment records of Madhuri Refiners Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
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 |
To see the full GST registrations and return filing status of Madhuri Refiners Private Limited, buy the company report.
Recent activity
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 in the company report.
Frequently asked questions
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 has 2 current directors:
- Niranjan Desai - Director
- Jai Desai - Director
The latest financial statements of Madhuri Refiners 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 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: 12 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, Mrs Realty Private Limited, Malani Dairy Private Limited, all in the Food and Beverages industry (Edible Oils, Food and Beverages Retail and Distribution), with the same principal business activity (wholesale trading).
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.
Madhuri Refiners has 5 MSME Form 1 returns on record between 2019 and 2021, listing 57 overdue payments to 8 micro and small suppliers. The latest return was filed on 04 Feb 2022.
Madhuri Refiners can be reached through the website madhurioils.com. Its registered office is in Indore, Madhya Pradesh, India.