About Mahan Industries Limited
Data last updated: 21 December 2025
Mahan Industries Limited is a public limited company based in Ahmedabad, Gujarat, India. It specialises in investment and credit NBFC, a part of the broader financial services sector. Incorporated on 02 January 1995, the company has been in operation for over 31 years.
Registered with ROC Ahmedabad under CIN L91110GJ1995PLC024053. Listed on BSE: 531515.
Capital: an authorised share capital of ₹37.3 Cr and a paid-up capital of ₹4.5 Cr. Formerly known as Mahan Finstock Limited. It is led by directors including Niranjan Navratanmal Jain and Sunil Prataprai Gurnani.
Last AGM: 24 September 2024. Financial statements filed for year ended 31 March 2024. Office: D K House 3Rd Floor Nr Mitha – Khali Under Bridge Navrangpura, Ahmedabad, Gujarat, India – 380006.
As per the financials filed for FY 2024, the company reported a revenue of ₹71.41 Lakh, a decline of 39.18% compared to the previous year.
The company is associated with 1 brand - Mahan. As per MCA filings, the company has satisfied charges of ₹45 Lakh on record.
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.
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Email*****@*****.com
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Telephone+91-****-******
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Website
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Social Media**************
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Registered AddressD K House 3Rd Floor Nr Mitha – Khali Under Bridge Navrangpura, Ahmedabad, Gujarat, India – 380006
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IndustryFinancial Services, Investment & Credit NBFC, NBFC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Associated Brands with Mahan Industries Limited
Mahan Industries Limited operates one associated brand: Mahan. These brands represent Mahan Industries Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Investment company dealing in equity shares, loans, and commodity trading through stock exchanges. | mahan.co.in |
Competitors & Alternatives of Mahan Industries Limited
Brands and companies operating in the same space as Mahan Industries Limited include Fidelity Investments, Investec, HSBC and 6 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Fidelity Investments
|
Provider of brokerage accounts, retirement planning, wealth management, and trading platforms | Boston, United States, United States | 1946 |
Investec
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Global banking, investment, and wealth management services are offered worldwide. | London, United Kingdom, United Kingdom | 1974 |
HSBC
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Universal banking and financial advisory services are provided globally. | London, United Kingdom, United Kingdom | 1865 |
UBS
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Financial services are provided globally by UBS for wealth management. | Zurich, Switzerland, Switzerland | 1862 |
Generali
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Diversified insurance and asset management services are offered globally. | Trieste, Italy, Italy | 1831 |
BNP Paribas
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Banking & financial service provider | Paris, France, France | 1848 |
Hayfin
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Private debt investments are directed across multiple sectors. | London, United Kingdom, United Kingdom | 2013 |
Morgan Stanley
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Wealth management, investment advisory, and financial services are provided. | New York, United States, United States | 1935 |
Nordea
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Nordea is recognized as a leading Nordic universal bank. | Stockholm, Sweden, Sweden | 1820 |
Business Activity of Mahan Industries Limited
Mahan Industries Limited operates primarily in the financial and insurance service sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| ********* | Financial and insurance Service | ********* | Other financial activities | ********* |
Auditor Details of Mahan Industries Limited
Mahan Industries Limited is audited by Roopen R. Shah & Co. for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Roopen R. Shah & Co. | blur-value | blur-value | blur-value |
Board of Directors of Mahan Industries Limited
Mahan Industries Limited is currently managed by 12 directors, with 15 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
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Niranjan Navratanmal Jain
Also directs:
Hind Project And Infrastructures Limited, Timbor Furnitech Private Limited, Shishir Energy Private Limited and 1 more
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Cfo | 12 Nov 2025 | 0 Years 7 Months | Current |
| Sunil Prataprai Gurnani | Cfo | 27 May 2021 | 5 Years 1 Months | Current |
| Astik Kalpeshbhai Trivedi | Director | 23 Aug 2023 | 2 Years 10 Months | Current |
| Nishil Shah | Director | 05 Nov 2025 | 0 Years 8 Months | Current |
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Sushilkumar Goel
Also directs:
Noble Polymers Limited, Jida Enterprise Private Limited
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Director | 26 Dec 2024 | 1 Years 6 Months | Current |
|
Yash Kamleshkumar Shah
Also directs:
R-Stone Design And Build Limited, Aall Mart Limited
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Director | 26 Dec 2024 | 1 Years 6 Months | Current |
Financials of Mahan Industries Limited FY 2024 filings available
Mahan Industries Limited reported revenue of ₹71.21 Lakh (down 39.35% YoY) for FY 2024. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹71.21 Lakh | ₹1.17 Cr | ₹71.75 Lakh | ₹33.21 Lakh | ₹68.79 Lakh | ₹45.07 Lakh |
| Interest Earned | ₹71.21 Lakh | ₹19.2 Lakh | ₹4.75 Lakh | ₹0 | ₹0 | - |
| Other Income | ₹20,000 | ₹0 | ₹0 | ₹0 | ₹0 | ₹56,000 |
| Total Income | ₹71.41 Lakh | ₹1.17 Cr | ₹71.75 Lakh | ₹33.21 Lakh | ₹68.79 Lakh | ₹45.63 Lakh |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹40.17 Lakh | ₹83.5 Lakh | ₹59.07 Lakh | ₹36.09 Lakh | ₹0 | ₹49.57 Lakh |
| Changes in Inventories | -₹5.59 Lakh | -₹54,000 | -₹3.99 Lakh | -₹4.55 Lakh | ₹28.94 Lakh | ₹22.56 Lakh |
| Employee Benefit Expense | ₹18.16 Lakh | ₹16.39 Lakh | ₹10.05 Lakh | ₹15.79 Lakh | ₹13.71 Lakh | ₹10.23 Lakh |
| Finance Costs | ₹2.88 Lakh | ₹2.51 Lakh | ₹76,000 | ₹86,000 | ₹15,000 | ₹20,000 |
| Depreciation & Amortisation | ₹15,000 | ₹17,000 | ₹17,800 | ₹19,000 | ₹19,000 | ₹19,000 |
| Other Expenses | ₹14.97 Lakh | ₹12.03 Lakh | ₹21.92 Lakh | ₹1.97 Cr | ₹1.16 Cr | ₹2.9 Cr |
| Total Expenses | ₹70.74 Lakh | ₹1.14 Cr | ₹87.99 Lakh | ₹2.45 Cr | ₹1.65 Cr | ₹3.72 Cr |
| Profit Before Exceptional Items & Tax | ₹67,000 | ₹3.35 Lakh | -₹16.24 Lakh | -₹2.12 Cr | -₹96.06 Lakh | -₹3.27 Cr |
| Exceptional Items | -₹5.69 Lakh | -₹5.69 Lakh | ₹0 | -₹1.09 Cr | ₹6.57 Lakh | ₹0 |
| Profit Before Tax | -₹5.02 Lakh | -₹2.34 Lakh | -₹16.24 Lakh | -₹3.22 Cr | -₹89.49 Lakh | -₹3.27 Cr |
| Total Tax Expense | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹35.96 Lakh |
| Net Profit | -₹5.02 Lakh | -₹2.34 Lakh | -₹16.24 Lakh | -₹3.22 Cr | -₹89.49 Lakh | -₹3.63 Cr |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | -₹5.02 Lakh | -₹2.34 Lakh | -₹16.24 Lakh | -₹3.22 Cr | -₹89.49 Lakh | -₹3.63 Cr |
| EBITDA (computed) | ₹3.7 Lakh | ₹6.03 Lakh | -₹15.3 Lakh | -₹2.11 Cr | -₹95.72 Lakh | -₹3.26 Cr |
| Basic EPS | ₹-0.01 | ₹-0.01 | ₹-0.05 | ₹-0.89 | ₹-0.25 | ₹-1.01 |
| Diluted EPS | ₹-0.10 | ₹-0.01 | ₹-0.05 | ₹-0.89 | ₹-0.25 | ₹-1.01 |
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Total Assets | ₹6.59 Cr | ₹6.66 Cr | ₹6.55 Cr | ₹6.1 Cr | ₹9.33 Cr | ₹10.83 Cr |
| Non-current Assets | - | - | - | - | - | ₹5.06 Cr |
| Current Assets | - | - | - | - | - | ₹5.77 Cr |
| Property, Plant & Equipment | ₹6 Lakh | ₹6.15 Lakh | ₹6.31 Lakh | ₹6.48 Lakh | ₹6.67 Lakh | ₹6.86 Lakh |
| Inventories | ₹0 | ₹12.59 Lakh | ₹12.05 Lakh | ₹8.07 Lakh | ₹3.51 Lakh | ₹32.45 Lakh |
| Trade Receivables | - | - | - | - | - | ₹1.22 Cr |
| Cash & Equivalents | ₹2.04 Lakh | ₹34,000 | ₹46,000 | ₹4.92 Lakh | ₹1.72 Lakh | ₹2.22 Lakh |
| Equity (Net Worth) | ₹3.05 Cr | ₹3.1 Cr | ₹3.12 Cr | ₹3.28 Cr | ₹6.5 Cr | ₹7.39 Cr |
| Equity Share Capital | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr |
| Borrowings (Non-current) | - | - | - | - | - | ₹0 |
| Borrowings (Current) | - | - | - | - | - | ₹3.38 Cr |
| Total Debt (computed) | - | - | - | - | - | ₹3.38 Cr |
| Current Liabilities | - | - | - | - | - | ₹3.44 Cr |
| Total Liabilities | ₹3.54 Cr | ₹3.56 Cr | ₹3.42 Cr | ₹2.82 Cr | ₹2.83 Cr | ₹3.44 Cr |
| Metrics | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Cash Flow | ₹3.55 Lakh | ₹2.56 Cr | -₹64.62 Lakh |
| Investing Cash Flow | -₹85,000 | -₹2.64 Cr | -₹50,500 |
| Financing Cash Flow | -₹1 Lakh | ₹8.65 Lakh | ₹60.66 Lakh |
| Capital Expenditure | ₹0 | ₹0 | ₹0 |
| Free Cash Flow (computed) | ₹3.55 Lakh | ₹2.56 Cr | -₹64.62 Lakh |
| Dividends Paid | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹1.7 Lakh | -₹12,000 | -₹4.47 Lakh |
| Metrics | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|
| Revenue from Operations | ₹85.36 Lakh | ₹30.21 Lakh | ₹46.07 Lakh |
| Interest Earned | ₹85.36 Lakh | ₹0 | ₹0 |
| Other Income | ₹9.17 Lakh | ₹7.42 Lakh | ₹0 |
| Total Income | ₹94.53 Lakh | ₹37.63 Lakh | ₹46.07 Lakh |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹54.44 Lakh | ₹61.4 Lakh | ₹43.85 Lakh |
| Changes in Inventories | ₹29.45 Lakh | -₹34.08 Lakh | -₹14.02 Lakh |
| Employee Benefit Expense | ₹6.54 Lakh | ₹4.36 Lakh | ₹4.63 Lakh |
| Finance Costs | ₹95,000 | ₹97,000 | ₹38,000 |
| Depreciation & Amortisation | ₹4,000 | ₹4,000 | ₹4,000 |
| Other Expenses | ₹4.51 Lakh | ₹3.97 Lakh | ₹3.59 Lakh |
| Total Expenses | ₹95.93 Lakh | ₹36.66 Lakh | ₹38.47 Lakh |
| Profit Before Exceptional Items & Tax | -₹1.4 Lakh | ₹97,000 | ₹7.6 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹1.4 Lakh | ₹97,000 | ₹7.6 Lakh |
| Total Tax Expense | ₹0 | ₹24,000 | ₹1.92 Lakh |
| Net Profit | -₹1.4 Lakh | ₹73,000 | ₹5.68 Lakh |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | -₹1.4 Lakh | ₹73,000 | ₹5.68 Lakh |
| EBITDA (computed) | -₹41,000 | ₹1.98 Lakh | ₹8.02 Lakh |
| Basic EPS | ₹0.00 | ₹0.00 | ₹0.02 |
| Diluted EPS | ₹0.00 | ₹0.00 | ₹0.02 |
Shareholding Pattern of Mahan Industries Limited
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, promoters hold 1.16%, retail and other public shareholders hold 98.84% of Mahan Industries Limited. The company had 8,236 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% | 1.48% |
| Public | 98.84% | 98.84% | 98.84% | 98.84% | 98.84% | 98.52% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | 1.16% | 1.16% | 1.48% |
| Public | 98.84% | 98.84% | 98.52% |
| Promoter change (YoY, %pts) | +0.00 | -0.32 | - |
Charges & Borrowings of Mahan Industries Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 16 Oct 1998 | Charotar Nagrik Sahkari Bank Ltd | ₹45 Lakh | Satisfied |
Total charge records: 1 View all charges
Employees and EPFO Compliance at Mahan Industries Limited
View historical data on people associated with Mahan Industries Limited, including employment history and EPFO contributions.
Employee Count & EPFO Data of Mahan Industries Limited
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GST Compliance of Mahan Industries Limited
GSTIN & GST Filing Data of Mahan Industries Limited
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Credit Ratings, Litigation & Regulatory Alerts for Mahan Industries Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Mahan Industries Limited
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MSME Payment Delays by Mahan Industries Limited
MSME Payment Delays by Mahan Industries Limited
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Subsidiaries & Group Companies of Mahan Industries Limited
Subsidiaries & Group Companies of Mahan Industries Limited
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MCA Filings & Documents of Mahan Industries Limited
MCA Filings & Documents of Mahan Industries Limited
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Recent Activity on Mahan Industries Limited
Frequently Asked Questions about Mahan Industries Limited
Mahan Industries Limited is an active public limited company in the financial services sector based in Ahmedabad, Gujarat, India. It was incorporated on 02 January 1995 (31+ years old) and is registered under CIN L91110GJ1995PLC024053. Listed on BSE: 531515.
Mahan Industries Limited reported revenue of ₹71.41 Lakh for FY 2024 (down 39.18% YoY).
The current directors of Mahan Industries Limited are:
- Niranjan Navratanmal Jain
- Sunil Prataprai Gurnani
- Astik Kalpeshbhai Trivedi
- Nishil Shah
- Sunil
- Sushilkumar Goel
- Yash Kamleshkumar Shah
- Amita Chhaganbhai Pragada
- Yogendrakumar Gupta Prabhudayal
- Sunil Prataprai Gurnani
- Ritendrasinh Kishorsinh Rathod
- Niranjankumar Navratanmal Jain
The primary industry of Mahan Industries Limited is financial services. The company specifically operates in investment and credit nbfc. The company is currently active in this sector.
Yes. Mahan Industries Limited is listed on BSE with code 531515.
Mahan Industries Limited can be reached at the registered office: D K House 3Rd Floor Nr Mitha – Khali Under Bridge Navrangpura, Ahmedabad, Gujarat, India – 380006, or through the website mahan.co.in.