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Magnify Industries Private Limited - energy and power in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹14.97 Cr
▲ 10% YoY
Net profit · FY 2024
₹35.73 Lakh
Net margin 2.4%
EBITDA · FY 2024
₹1.26 Cr
EBITDA margin 8.4%
Authorised capital
₹25 Lakh
Registered with MCA
Paid-up capital
₹25 Lakh
Issued & subscribed
Open charges
₹2.68 Cr
Satisfied ₹2.61 Cr
Company age
8 yrs
Est. 2018
Employees · EPFO
37
Provident fund records
About Magnify Industries Private Limited
Data last updated:
Magnify Industries Private Limited is a private limited company based in Vadodara, Gujarat, India, recognised as a startup by DPIIT. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 05 September 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U31909GJ2018PTC103897. Its GSTIN is 24AAMCM0504A1Z7 (Gujarat).
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹25 Lakh. It is led by directors Shalin Darshakbhai Mehta and Darshak Madhukant Mehta.
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 Vadodara, Gujarat.
As per the financials filed for FY 2024, the company reported a revenue of ₹14.97 Cr, a growth of 10% compared to the previous year. For the same year it recorded a net profit of ₹35.73 Lakh (net margin 2.4%) and EBITDA of ₹1.26 Cr (EBITDA margin 8.4%). Revenue has grown at a compounded annual rate (CAGR) of 40% over three years.
The company has about 37 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Magnify Industries. As per MCA filings, the company has open charges of ₹2.68 Cr and satisfied charges of ₹2.61 Cr on record.
Magnify Industries Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0010346). For more details, the company can be reached via its website magnify.co.in.
Company details
CIN U31909GJ2018PTC103897
Registration Number 103897
Incorporation Date 05 September 2018
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
DPIIT Recognition Recognised Startup
MSME Classification Small
Udyam Registration UDYAM-GJ-24-0010346
Recognitions & Rankings of Magnify Industries
MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-GJ-24-0010346
Contact details
Magnify Industries Private Limited's registered office is in Vadodara, Gujarat. Its website is magnify.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address906 Vihav Supremus Opp. Shell Petroleum Near Iscon Heights, Gotri, Vadodara, Gujarat, India – 390021
- IndustryEnergy and Power, Power Equipment Manufacturers
To see the full contact details of Magnify Industries Private Limited, buy the company report.
Comprehensive company report
Magnify Industries 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
Magnify Industries operates one associated brand: Magnify Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturing of wiring harnesses and control boxes for refrigeration industries. | magnify.co.in |
Business activity
The main business activity of Magnify Industries is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Magnify Industries Private Limited, buy the company report.
Financials of Magnify Industries Private Limited
FY 2025 filings availableMagnify Industries Private Limited reported revenue of ₹14.97 Cr (up 10% YoY) for FY 2024.
Revenue · FY 2024
₹14.97 Cr ▲ 10%
Net profit · FY 2024
₹35.73 Lakh margin 2.4%
EBITDA · FY 2024
₹1.26 Cr margin 8.4%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 10%
3 years · compounded
▲ 40%
EBITDA CAGR growth
1 year
▲ 34%
3 years · compounded
▲ 25%
Revenue has grown at a compounded annual rate (CAGR) of 40% over three years, including 10% growth in the latest year. EBITDA rose 34% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| 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 | ₹1.26 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹35.73 Lakh | ||||
| 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 | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.4% | ||||
| Net Profit Margin | 2.4% | ||||
| 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 Magnify Industries Private Limited, buy the company report.
Board of directors of Magnify Industries Private Limited
Magnify Industries has 2 directors on record. No former directors are listed.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shalin Darshakbhai Mehta Also directs: Magserv Corps LLP | Director | 05 Sep 2018 | 8 Years 1 Months | Current |
| Darshak Madhukant Mehta | Director | 05 Sep 2018 | 8 Years 1 Months | Current |
Peer comparison
Magnify Industries Private Limited is compared with the 3 companies closest to it by revenue in the Manufacturing industry (Cables and Wires), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Namonkar Electricals Private Limited | ₹15.22 Cr (FY 2023) | 23.0% | Pune, Maharashtra, India | |||
| Magnify Industries Private Limitedthis company | ₹14.97 Cr (FY 2024) | ₹35.73 Lakh | 2.4% | 10.0% | 37 | Vadodara, Gujarat, India |
| Shivalik Wires Private Limited | ₹14.85 Cr (FY 2025) | -4.0% | Chandigarh, India | |||
| Swastik Winding Wires Private Limited | ₹14.84 Cr (FY 2025) | 6.0% | Hubli, Karnataka, India |
To see the full peer comparison of Magnify Industries Private Limited, buy the company report.
Auditor
Magnify Industries Private Limited is audited by PARIKH SHAH CHOTALIA & ASSOCIATES for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PARIKH SHAH CHOTALIA & ASSOCIATES | FY 2020 | 118493W |
Shareholding
The shareholding of Magnify Industries Private Limited is on record for FY 2020, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2020 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Magnify Industries Private Limited, buy the company report.
Charges & borrowings
Open charges
₹2.68 Cr
Satisfied charges
₹2.61 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Jul 2024 | 100951394 | Hdfc Bank Limited | ₹20.01 Lakh | Open | |
| 10 Apr 2023 | 100711312 | Hdfc Bank Limited | ₹15 Lakh | Open | |
| 02 Nov 2021 | 100505349 | Hdfc Bank Limited | ₹2.13 Cr | Open | |
| 23 Oct 2021 | 100506145 | Others | ₹20 Lakh | Open | |
| 24 Jan 2019 | 100235536 | Axis Bank Limited | ₹1.03 Cr | Satisfied |
To see the full charge records of Magnify Industries Private Limited, buy the company report.
Total charge records: 6 View all charges
Legal cases
No court or tribunal cases involving Magnify Industries Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Magnify Industries Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Magnify Industries Private Limited has a workforce of 37 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
Employee count
37
Active EPFO establishments
1
Employee growth
2.78%
GST
Magnify Industries has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAMCM0504A1Z7 | Gujarat | Active | 03 Jan 2019 |
To see the full GST registrations and return filing status of Magnify Industries Private Limited, buy the company report.
Recent activity
Magnify Industries Private Limited has 2 board changes on record since 2018: 2 appointments. The latest: Darshak Madhukant Mehta was appointed as Director on 05 Sep 2018.
AGM
Magnify Industries Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Magnify Industries Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge with Hdfc Bank Limited of Rs. 213.00 Lakh registered on 02 Nov 2021 with Charge ID 100505349 was modified on 31 Dec 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 20.01 Lakh with Charge ID 100951394 was registered on 20 Jul 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 15.00 Lakh with Charge ID 100711312 was registered on 10 Apr 2023.
Charges
A charge registered on 24 Jan 2019 via Charge ID 100235536 with Axis Bank Limited was fully satisfied on 03 Dec 2021.
Charges
A charge registered on 18 Jan 2019 via Charge ID 100235222 with Axis Bank Limited was fully satisfied on 03 Dec 2021.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 213.00 Lakh with Charge ID 100505349 was registered on 02 Nov 2021.
Charges
A charge with Others amounted to Rs. 20.00 Lakh with Charge ID 100506145 was registered on 23 Oct 2021.
Charges
A charge with Axis Bank Limited of Rs. 103.00 Lakh registered on 24 Jan 2019 with Charge ID 100235536 was modified on 13 Jul 2020.
Charges
A charge with Axis Bank Limited of Rs. 158.00 Lakh registered on 18 Jan 2019 with Charge ID 100235222 was modified on 13 Jul 2020.
Charges
A charge with Axis Bank Limited amounted to Rs. 103.00 Lakh with Charge ID 100235536 was registered on 24 Jan 2019.
4 earlier events are in the company report.
Frequently asked questions
Magnify Industries is an active private limited company based in Vadodara, Gujarat, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 05 September 2018 (8+ years old) and is registered under CIN U31909GJ2018PTC103897.
Magnify Industries has 2 current directors:
- Shalin Darshakbhai Mehta - Director
- Darshak Madhukant Mehta - Director
The latest financial statements of Magnify Industries 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 FY 2019 are in the company report.
The GSTIN of Magnify Industries is 24AAMCM0504A1Z7, registered in Gujarat.
The CIN (Corporate Identification Number) of Magnify Industries is U31909GJ2018PTC103897. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Magnify Industries was incorporated on 05 September 2018, making it 8+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Magnify Industries by revenue are Namonkar Electricals Private Limited, Shivalik Wires Private Limited, Swastik Winding Wires Private Limited, all in the Manufacturing industry (Cables and Wires), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Darshak Madhukant Mehta was appointed as Director on 05 Sep 2018. Shalin Darshakbhai Mehta was appointed as Director on 05 Sep 2018.
Yes, Magnify Industries is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, Magnify Industries is registered as a small enterprise under Udyam registration (number: UDYAM-GJ-24-0010346).
Magnify Industries can be reached through the website magnify.co.in. Its registered office is in Vadodara, Gujarat, India.
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