Mahan Industries Limited - financial services in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN L91110GJ1995PLC024053 Incorporated 02 January 1995 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Listed - BSE: 531515 Public Limited Company financial services
Data last updated
Market Cap
₹17.46 Cr
MAHANIN · BSE
Share Price
₹36.87
-5.00% today
Revenue
₹6.24 Cr
FY 2025-26 · +187.6% YoY
EBITDA
₹0.11 Cr
Margin 1.8%
Net Profit
₹0.05 Cr
FY 2025-26 · +225.0% YoY
P/E (TTM)
6.2x
P/B 2.1x
ROE
0.8%
ROCE 1.2%
Debt / Equity
0.84
Interest cover 63.6x

About Mahan Industries Limited

Data last updated:

Mahan Industries Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 02 January 1995 and has been in existence for over 31 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L91110GJ1995PLC024053. Its GSTIN is 24AABCM0370P1ZF (Gujarat). It is a listed company as per MCA records. Its shares are listed on BSE: 531515.

The company has an authorised share capital of ₹60 Cr and a paid-up capital of ₹4.5 Cr. It was formerly known as Mahan Finstock Limited. It is led by directors including Yogendrakumar Gupta Prabhudayal (Managing Director) and Yash Kamleshkumar Shah.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Ahmedabad, Gujarat.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹6.24 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹5 Lakh (net margin 0.8%) and EBITDA of ₹11 Lakh (EBITDA margin 1.8%). The net worth stands at ₹5.21 Cr (up 1% YoY). Total assets are valued at ₹10.47 Cr (up 21.3% YoY).

The company is associated with 1 brand: Mahan. As per MCA filings, the company has satisfied charges of ₹45 Lakh on record. Court records list 21 cases involving the company, including 7 filed by the company and 14 filed against it. The company has 65 deals on record (65 market trades); the latest was in July 2026. Its 7 peer companies in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 4 smaller; the largest is Alok Financial Services Pvt Ltd with revenue of ₹1.18 Cr.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahan.co.in.

Company details

CIN L91110GJ1995PLC024053
Registration Number 024053
Incorporation Date 02 January 1995
ROC Ahmedabad
Listing Status Listed - Listed on BSE (531515)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

Contact details

Mahan Industries Limited's registered office is in Ahmedabad, Gujarat. Its website is mahan.co.in. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Registered Address
    B – 107 Sankalp Iconic Tower, Opposite Vikram Nagar Iscon Temple Cross Road S.G Highway, Ahmedabad, Gujarat, India – 380054
  • Industry
    Financial Services, Investment & Credit NBFC, NBFC

To see the full contact details of Mahan Industries Limited, buy the company report.

Comprehensive company report
Mahan Industries 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

Mahan Industries operates one associated brand: Mahan. Each brand links to its own profile.

BrandDescriptionWebsite
Investment company dealing in equity shares, loans, and commodity trading through stock exchanges.mahan.co.in

Business activity

The main business activity of Mahan Industries is financial and insurance service. In detail, this covers other financial activities.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
KFinancial and insurance ServiceK8Other financial activities

To see the full business activity and turnover split of Mahan Industries Limited, buy the company report.

Financials of Mahan Industries Limited

FY 2025-26 filings available

Mahan Industries Limited reported revenue of ₹6.24 Cr (up 187.6% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹6.24 Cr
+187.6% YoY
EBITDA
₹0.11 Cr
+210.0% YoY
Profit After Tax
₹0.05 Cr
+225.0% YoY
Net Worth
₹5.21 Cr
+1.0% YoY
Total Assets
₹10.47 Cr
+21.3% YoY
Total Debt
₹5.27 Cr
+51.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue6.242.170.711.170.720.330.69
Revenue growth+187.6%+205.6%-39.3%+62.5%+118.2%-52.2%-
EBITDA0.11(0.10)(0.02)0.00(0.16)(3.21)(0.96)
EBITDA margin+1.8%-4.6%-2.8%0.0%-22.2%-972.7%-139.1%
Profit before tax0.05(0.13)(0.05)(0.03)(0.16)(3.21)(0.89)
Net profit0.05(0.04)(0.05)(0.03)(0.16)(3.21)(0.89)
Net profit margin+0.8%-1.8%-7.0%-2.6%-22.2%-972.7%-129.0%
EPS (₹)0.10(0.30)(0.01)(0.01)(0.05)(0.89)(0.25)
Balance sheet
Total assets10.478.636.516.573.123.286.50
Net worth5.215.163.053.103.123.286.50
Total debt5.273.473.473.480.000.000.00
Cash & bank0.020.010.020.000.000.050.02
Net working capital2.142.572.512.451.651.80(1.44)
Cash flow
Cash from operations0.49(1.93)0.03(0.07)(0.65)(1.82)0.09
Cash from investing(2.27)(0.33)(0.01)(0.01)(0.01)(0.01)0.51
Cash from financing1.802.250.000.080.610.01(0.60)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5.312.662.361.591.500.650.320.94
Revenue growth (YoY)+254.0%+309.2%+637.5%+69.2%+305.4%+41.3%--
Other income0.013.040.000.130.000.000.070.00
Total expenses3.583.532.121.971.460.570.590.95
EBITDA1.73(0.87)0.24(0.38)0.040.08(0.27)(0.01)
EBITDA margin+32.6%-32.7%+10.2%-23.9%+2.7%+12.3%-84.4%-1.1%
Depreciation0.010.000.000.000.000.000.000.00
Interest0.080.030.020.020.020.010.010.01
Profit before tax1.652.140.22(0.27)0.020.07(0.21)(0.02)
Tax0.370.410.000.000.000.00(0.02)0.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 01 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue5.312.662.361.591.500.650.320.94
Revenue growth (YoY)+254.0%+309.2%+637.5%+69.2%+305.4%+41.3%--
Other income0.013.040.000.130.000.000.070.00
Total expenses3.583.532.121.971.460.570.590.95
EBITDA1.73(0.87)0.24(0.38)0.040.08(0.27)(0.01)
EBITDA margin+32.6%-32.7%+10.2%-23.9%+2.7%+12.3%-84.4%-1.1%
Depreciation0.010.000.000.000.000.000.000.00
Interest0.080.030.020.020.020.010.010.01
Profit before tax1.652.140.22(0.27)0.020.07(0.21)(0.02)
Tax0.370.410.000.000.000.00(0.02)0.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue6.242.170.711.170.720.330.69
Revenue growth+187.6%+205.6%-39.3%+62.5%+118.2%-52.2%-
Other income0.010.000.000.000.000.000.07
Total expenses6.132.270.731.170.883.541.65
Employee cost0.000.190.150.160.180.130.11
EBITDA0.11(0.10)(0.02)0.00(0.16)(3.21)(0.96)
EBITDA margin+1.8%-4.6%-2.8%0.0%-22.2%-972.7%-139.1%
Depreciation0.000.000.000.000.000.000.00
Interest0.070.030.030.030.000.000.00
Profit before tax0.05(0.13)(0.05)(0.03)(0.16)(3.21)(0.89)
Tax0.000.000.000.000.000.000.00
Net profit0.05(0.04)(0.05)(0.03)(0.16)(3.21)(0.89)
Net profit margin+0.8%-1.8%-7.0%-2.6%-22.2%-972.7%-129.0%
EPS (₹)0.10(0.30)(0.01)(0.01)(0.05)(0.89)(0.25)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital4.504.5036.0036.0036.0036.0036.00
Reserves & surplus0.710.66(32.95)(32.90)(32.88)(32.72)(29.50)
Shareholders' funds (net worth)5.215.163.053.103.123.286.50
Secured loans0.000.000.000.000.000.000.00
Unsecured loans5.273.473.473.480.000.000.00
Total debt5.273.473.473.480.000.000.00
Total liabilities10.478.636.516.573.123.286.50
Assets
Gross block0.260.260.260.260.260.260.26
Net block0.060.060.060.060.060.070.07
Capital work in progress0.000.000.000.000.000.000.00
Investments0.910.320.000.000.001.423.28
Inventories1.230.290.180.130.120.080.04
Sundry debtors1.292.272.272.324.864.411.26
Cash & bank balances0.020.010.020.000.000.050.02
Loans & advances0.090.110.110.090.090.080.07
Total current assets2.632.682.582.545.074.621.39
Total current liabilities0.490.110.070.093.422.822.83
Net working capital2.142.572.512.451.651.80(1.44)
Total assets10.478.636.516.573.123.286.50
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.010.020.000.000.050.020.02
Net cash from operating activities0.49(1.93)0.03(0.07)(0.65)(1.82)0.09
Net cash from investing activities(2.27)(0.33)(0.01)(0.01)(0.01)(0.01)0.51
Net cash from financing activities1.802.250.000.080.610.01(0.60)
Net change in cash0.02(0.01)0.020.00(0.04)(1.82)0.00
Closing cash0.020.010.020.000.000.050.02
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+187.6%+205.6%-39.3%+62.5%+118.2%-52.2%-
EBITDA growth+210.0%-400.0%-+100.0%+95.0%-234.4%-
PBT growth+9998.0%-160.0%-66.7%+81.3%+95.0%-260.7%+75.5%
Net income growth+225.0%+20.0%-66.7%+81.3%+95.0%-260.7%-
Revenue CAGR (3Y)+74.6%+44.5%+29.1%+19.3%+16.1%+154.6%+62.8%
EBITDA CAGR (3Y)--14.5%-81.6%-100.0%-64.7%+118.0%+11.1%
Profitability & leverage
Net income margin+0.6%-6.0%-7.0%-2.6%-22.2%-972.7%-129.0%
Return on capital employed+1.2%0.0%0.0%0.0%0.0%0.0%0.0%
Return on net worth+0.8%0.0%0.0%0.0%0.0%0.0%0.0%
Debt / equity0.840.851.130.560.000.000.00
Long-term debt / equity0.840.851.130.560.000.000.00
Interest cover63.64-30.00-150.00-0.000.000.00
Efficiency & per share
Fixed asset turnover23.968.352.734.502.771.272.92
Inventory turnover8.209.234.589.367.205.504.22
Debtors turnover3.500.960.310.330.160.120.61
EPS (₹)0.10(0.30)(0.01)(0.01)(0.05)(0.89)(0.25)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)11.5711.470.850.860.870.911.81

To see the full year-wise statements and ratios of Mahan Industries Limited, buy the company report.

Board of directors of Mahan Industries Limited

Mahan Industries has 6 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Yogendrakumar Gupta PrabhudayalManaging Director02 Jan 199531 Years 9 MonthsCurrent
Niranjankumar Navratanmal JainAdditional Director05 Nov 20250 Years 11 MonthsCurrent
Nishil ShahAdditional Director05 Nov 20250 Years 11 MonthsCurrent
Yash Kamleshkumar ShahDirector26 Dec 20241 Years 10 MonthsCurrent
Sushilkumar GoelDirector26 Dec 20241 Years 10 MonthsCurrent
Amita Chhaganbhai PragadaDirector12 Aug 20242 Years 2 MonthsCurrent

Peer comparison

Mahan Industries Limited is compared with the 7 companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Mahan Industries Limitedthis company₹6.24 Cr (FY 2026)₹5 Lakh0.8%187.6%Ahmedabad, Gujarat, India
Alok Financial Services Pvt Ltd₹1.18 Cr (FY 2025)-5.0%Kolkata, West Bengal, India
Anmol Tie-Up Pvt. Ltd.₹1.18 Cr (FY 2025)11.0%Surat, Gujarat, India
Sidhvandan Finance Limited₹1.18 Cr (FY 2022)-68.0%Delhi, India
Forerunner Capital Investments Limited₹1.17 Cr (FY 2025)3869.0%Ghitorni, Delhi, India
Chemo Traders Pvt Ltd₹1.17 Cr (FY 2025)5158.0%Kolkata, West Bengal, India
Maple Mercantile Pvt.Ltd.₹1.17 Cr (FY 2023)1.0%Kolkata, West Bengal, India
Shri Arya Investment Private Limited₹1.17 Cr (FY 2025)205.0%Ahmedabad, Gujarat, India

To see the full peer comparison of Mahan Industries Limited, buy the company report.

Auditor

Mahan Industries Limited is audited by Roopen R. Shah & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Roopen R. Shah & Co.FY 2023119869W

Shareholding

Shareholding for the quarter ended Mar 2026: promoters hold 1.20%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 98.80%.

Promoters: 1.20%Retail & Others: 98.80%
Mar 2026
QUARTER
1.20% Promoters
98.80% Retail & Others
Promoter holding - history
Now 1.20% · Mar 2026High 1.20% · Jun 2025Low 1.20% · Jun 2025
0%0.8%1.5%2.3%3%Jun 2025Sep 2025Dec 2025Mar 2026Jun 2025: 1.20%Sep 2025: 1.20%Dec 2025: 1.20%Mar 2026: 1.20%1.20%1.20%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025
Promoters1.20%1.20%1.20%1.20%
Public98.80%98.80%98.80%98.80%

Charges & borrowings

Open charges
None
Satisfied charges
₹45 Lakh
Breakdown by lending institutions
Charotar Nagrik Sahkari Bank Ltd₹0.45 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
16 Oct 199880064305Charotar Nagrik Sahkari Bank Ltd₹45 LakhSatisfied

To see the full charge records of Mahan Industries Limited, buy the company report.

Total charge records: 1 View all charges

Deals & funding

Mahan Industries Limited has 65 deals on record (65 market trades); the latest was in July 2026.

Total deals
65
Market trades
65

Deals on record (5 of 65)

WhenDealAmountParties
Nov 2024Market trade₹4.2 LakhSeller: Gazala Constructions Private Limited
Apr 2024Market trade₹6.8 LakhSeller: Chartered Holdings India Private Limited
Feb 2021Market trade₹60,000Seller: Zuber Trading LLP
Jan 2021Market trade₹80,000Seller: Zuber Trading LLP
May 2019Market trade₹80,000Buyer: an individual
Seller: Zuber Trading LLP

To see the full deal history of Mahan Industries Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Mahan Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

GST

Mahan Industries has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AABCM0370P1ZFGujaratActive01 Jul 2017

To see the full GST registrations and return filing status of Mahan Industries Limited, buy the company report.

Recent activity

Mahan Industries Limited has 24 board changes on record since 1995: 15 appointments and 9 cessations. The latest: Sunil Prataprai Gurnani ceased to be CFO on 12 Nov 2025.

Filing
Mahan Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Ceased
Sunil Prataprai Gurnani ceased to be CFO.
Appointed
Niranjankumar Navratanmal Jain was appointed as Additional Director.
Appointed
Nishil Shah was appointed as Additional Director.
AGM
Mahan Industries Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Astik Kalpeshbhai Trivedi ceased to be Additional Director.
Ceased
Hiralben Pravinkumar Kubavat ceased to be Director.
Appointed
Sushilkumar Goel was appointed as Director.
Appointed
Yash Kamleshkumar Shah was appointed as Director.
Appointed
Amita Chhaganbhai Pragada was appointed as Director.
Ceased
Lalit Kajorimal Sharma ceased to be Director.
Appointed
Astik Kalpeshbhai Trivedi was appointed as Additional Director.

17 earlier events are in the company report.

Frequently asked questions

Mahan Industries is an active public limited company based in Ahmedabad, Gujarat, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 02 January 1995 (31+ years old) and is registered under CIN L91110GJ1995PLC024053. Listed on BSE: 531515.

Mahan Industries reported revenue of ₹6.24 Cr for FY 2025-26 (up 187.6% YoY) based on standalone financials.

Mahan Industries has 6 current directors:

The latest financial statements of Mahan Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Mahan Industries is 24AABCM0370P1ZF, registered in Gujarat.

The CIN (Corporate Identification Number) of Mahan Industries is L91110GJ1995PLC024053. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Mahan Industries is a listed company as per MCA records. Its shares are listed on BSE (code: 531515).

Mahan Industries has 21 court cases on record: 7 filed by the company and 14 filed against it. Most are in the high courts.

Mahan Industries was incorporated on 02 January 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Mahan Industries has 65 deals on record (65 market trades); the latest was in July 2026.

The peers of Mahan Industries by revenue are Alok Financial Services Pvt Ltd, Anmol Tie-Up Pvt. Ltd, Sidhvandan Finance Limited, Forerunner Capital Investments Limited, Chemo Traders Pvt Ltd and 2 more, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).