Mahavir Synthesis Private Limited

Mahavir Synthesis Private Limited - chemicals and materials in Surat, Gujarat, India. FY 2026 financials & compliance.
CIN U24110GJ2006PTC047950 Incorporated 17 March 2006 ROC Ahmedabad HQ Surat, Gujarat, India
Active Private Limited Company chemicals and materials MSME · Medium
Data last updated
Revenue · FY 2025
₹37.11 Cr
▼ 21% YoY
Net loss · FY 2025
₹2.83 Cr
Net margin -7.6%
EBITDA · FY 2025
₹3.33 Cr
EBITDA margin 9%
Authorised capital
₹4.5 Cr
Registered with MCA
Paid-up capital
₹4.5 Cr
Issued & subscribed
Open charges
₹33.04 Cr
Satisfied ₹18 Cr
Company age
20 yrs
Est. 2006
Employees · EPFO
94
Provident fund records

About Mahavir Synthesis Private Limited

Data last updated:

Mahavir Synthesis Private Limited is a private limited company based in Surat, Gujarat, India. It operates in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 17 March 2006 and has been in existence for over 20 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24110GJ2006PTC047950. Its GSTIN is 24AAFCA6894C1ZP (Gujarat).

The company has an authorised share capital of ₹4.5 Cr and a paid-up capital of ₹4.5 Cr. It was formerly known as Aquaace Acid and Intermediates Private Limited. It is led by directors including Vipul Jivabhai Chodvadiya and Manojkumar Kanchanlal Kayastha.

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 Block No.304B & 305 Sachin Magdalla Road GIDC Sachin, Surat, Gujarat, India – 394230.

As per the financials filed for FY 2025, the company reported a revenue of ₹37.11 Cr, a decline of 21% compared to the previous year. For the same year it recorded a net loss of ₹2.83 Cr (net margin -7.6%) and EBITDA of ₹3.33 Cr (EBITDA margin 9%). Revenue has declined at a compounded annual rate (CAGR) of 20% over three years and 6% over five years.

The company has about 94 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Mahavir Synthesis. As per MCA filings, the company has open charges of ₹33.04 Cr and satisfied charges of ₹18 Cr on record. Court records list 5 cases involving the company, including 4 filed by the company and 1 filed against it; 1 case is pending. The company has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹4.48 Cr; the latest was in April 2012. Its 5 peer companies in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 2 larger and 3 smaller; the largest is Vinni Chemicals Pvt Ltd with revenue of ₹37.31 Cr. The company has 13 MSME Form 1 returns on record between 2017 and 2024, listing 335 overdue payments to 100 micro and small suppliers.

Mahavir Synthesis Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-22-0006117). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahavirsynthesis.com.

Company details

CIN U24110GJ2006PTC047950
Registration Number 047950
Incorporation Date 17 March 2006
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-22-0006117
Key People
Vipul Jivabhai Chodvadiya Director Manojkumar Kanchanlal Kayastha Director Param Vatsal Naik Director

Recognitions & Rankings of Mahavir Synthesis

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-GJ-22-0006117

Contact details

Mahavir Synthesis Private Limited's registered office is in Surat, Gujarat. Its website is mahavirsynthesis.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    mahavirsynthesis.com
  • Social Media
  • Registered Address
    Block No.304B & 305 Sachin Magdalla Road GIDC Sachin, Surat, Gujarat, India – 394230
  • Industry
    Chemicals and Materials, Specialty Chemicals

To see the full contact details of Mahavir Synthesis Private Limited, buy the company report.

Comprehensive company report
Mahavir Synthesis 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

Mahavir Synthesis operates one associated brand: Mahavir Synthesis. Each brand links to its own profile.

BrandDescriptionWebsite
Mahavir Synthesis
Produces specialty chemicals, dyes intermediates, agro chemicals, and pharmaceuticals for various sectors.mahavirsynthesis.com

Business activity

The main business activity of Mahavir Synthesis is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC6Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products

To see the full business activity and turnover split of Mahavir Synthesis Private Limited, buy the company report.

Financials of Mahavir Synthesis Private Limited

FY 2025 filings available

Mahavir Synthesis Private Limited reported revenue of ₹37.11 Cr (down 21% YoY) for FY 2025.

Revenue · FY 2025
₹37.11 Cr ▼ 21%
Net loss · FY 2025
₹2.83 Cr margin -7.6%
EBITDA · FY 2025
₹3.33 Cr margin 9%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▼ 21%
3 years · compounded
▼ 20%
5 years · compounded
▼ 6%
EBITDA CAGR growth
1 year
▲ 291%
3 years · compounded
▼ 31%
5 years · compounded
▼ 18%

Revenue has declined at a compounded annual rate (CAGR) of 6% over five years, including a 21% fall in the latest year. EBITDA rose 291% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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₹3.33 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)-₹2.83 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin9%
Net Profit Margin-7.6%
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 Mahavir Synthesis Private Limited, buy the company report.

Board of directors of Mahavir Synthesis Private Limited

Mahavir Synthesis has 6 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Vipul Jivabhai ChodvadiyaDirector28 May 20224 Years 5 MonthsCurrent
Manojkumar Kanchanlal KayasthaDirector28 May 20224 Years 5 MonthsCurrent
Param Vatsal Naik
Also directs: Mahavir Eco Projects Private Limited
Director21 Jul 20179 Years 3 MonthsCurrent
Neha Vatsal Naik
Also directs: Mahavir Eco Projects Private Limited
Director06 Mar 20179 Years 8 MonthsCurrent
Vatsal Dinkerrai Naik
Also directs: Globe Enviro Care Limited, Vibrant Industrial Park Limited, Gitaar Private Limited and 1 more
Director17 Mar 200620 Years 7 MonthsCurrent
Tiruja Vatsal NaikDirector19 Nov 20241 Years 11 MonthsCurrent
View all directors

Peer comparison

Mahavir Synthesis Private Limited is compared with the 5 companies closest to it by revenue in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Vinni Chemicals Pvt Ltd₹37.31 Cr (FY 2025)2.0%Delhi, India
Kawaken Sterling Surfactants Private Limited₹37.3 Cr (FY 2025)-3.0%Mumbai, Maharashtra, India
Mahavir Synthesis Private Limitedthis company₹37.11 Cr (FY 2025)-₹2.83 Cr-7.6%-21.0%94Surat, Gujarat, India
Supraveni Chemicals Private Limited₹36.92 Cr (FY 2025)10.0%Bangalore, Karnataka, India
Megafine Speciality Chemicals Private Limited₹36.91 Cr (FY 2025)6.0%Ahmedabad, Gujarat, India
Gitanjali Chemicals Private Limited₹36.72 Cr (FY 2024)-21.0%Mumbai, Maharashtra, India

To see the full peer comparison of Mahavir Synthesis Private Limited, buy the company report.

Auditor

Mahavir Synthesis Private Limited is audited by Y B DESAI & ASSOCIATES for the financial year 2023.

Auditor firmFinancial yearFirm registration number
Y B DESAI & ASSOCIATESFY 2023102368W

Shareholding

The shareholding of Mahavir Synthesis Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2022FY 2021FY 2020FY 2019FY 2018
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Mahavir Synthesis Private Limited, buy the company report.

Charges & borrowings

Open charges
₹33.04 Cr
Satisfied charges
₹18 Cr
Breakdown by lending institutions
Others₹33.04 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
08 Jul 2020100352974Others₹2.2 CrOpen
10 Aug 2017100116241Others₹30.84 CrOpen
03 Sep 201410556403Others₹8 CrSatisfied
05 Aug 201010235026Kotak Mahindra Bank Limited₹5 CrSatisfied
30 Jul 201010234978Kotak Mahindra Bank Limited₹5 CrSatisfied

To see the full charge records of Mahavir Synthesis Private Limited, buy the company report.

Total charge records: 5 View all charges

Deals & funding

Mahavir Synthesis Private Limited has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹4.48 Cr; the latest was in April 2012.

Total deals
5
Secondary share transfers
3
Funding rounds
2
Disclosed funding
₹4.48 Cr

Deals on record (5 of 5)

WhenDealAmountParties
Apr 2012Funding round₹3.59 CrInvestors: Vatsal D Naik HUF, 3 individuals
Mar 2011Secondary share transferUndisclosedBuyer: Vatsal D Naik HUF, 3 individuals
Seller: 2 individuals
Nov 2007Secondary share transferUndisclosedBuyer: 3 individuals
Seller: 2 individuals
Mar 2007Funding round₹89 LakhInvestors: 3 individuals
Apr 2006Secondary share transferUndisclosedBuyer: 3 individuals
Seller: 2 individuals

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

Credit ratings & regulatory alerts

Mahavir Synthesis Private Limited was last rated by Crisil on 29 Nov 2021.

Rating agencyRated onRating
Crisil29 Nov 2021

To see the full credit ratings and regulatory alerts of Mahavir Synthesis Private Limited, buy the company report.

MSME payment delays

Mahavir Synthesis Private Limited has 13 MSME Form 1 returns on record between 2017 and 2024, listing 335 overdue payments to 100 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 100)

SupplierAmount dueDue sinceReported on
Sunrise Efficient Marketing Limited
an individual supplier
an individual supplier
an individual supplier
an individual supplier

To see the full MSME payment records of Mahavir Synthesis Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Mahavir Synthesis Private Limited has a workforce of 94 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.

Employee count
94
Active EPFO establishments
1
Employee growth
-16.81%

GST

Mahavir Synthesis has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AAFCA6894C1ZPGujaratActive01 Jul 2017

To see the full GST registrations and return filing status of Mahavir Synthesis Private Limited, buy the company report.

Recent activity

Mahavir Synthesis Private Limited has 8 board changes on record since 2006: 6 appointments and 2 cessations. The latest: Tiruja Vatsal Naik was appointed as Director on 19 Nov 2024.

AGM
Mahavir Synthesis Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Mahavir Synthesis Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge with Others of Rs. 30.84 Cr registered on 10 Aug 2017 with Charge ID 100116241 was modified on 25 Mar 2025.
Appointed
Tiruja Vatsal Naik was appointed as Director.
Appointed
Manojkumar Kanchanlal Kayastha was appointed as Director.
Appointed
Vipul Jivabhai Chodvadiya was appointed as Director.
Charges
A charge registered on 05 Aug 2010 via Charge ID 10235026 with Kotak Mahindra Bank Limited was fully satisfied on 26 Oct 2021.
Charges
A charge registered on 30 Jul 2010 via Charge ID 10234978 with Kotak Mahindra Bank Limited was fully satisfied on 26 Oct 2021.
Charges
A charge with Others of Rs. 2.20 Cr registered on 08 Jul 2020 with Charge ID 100352974 was modified on 29 Sep 2020.
Charges
A charge with Others amounted to Rs. 2.20 Cr with Charge ID 100352974 was registered on 08 Jul 2020.
Charges
A charge registered on 03 Sep 2014 via Charge ID 10556403 with Others was fully satisfied on 12 Sep 2017.
Charges
A charge with Others amounted to Rs. 30.84 Cr with Charge ID 100116241 was registered on 10 Aug 2017.

10 earlier events are in the company report.

Frequently asked questions

Mahavir Synthesis is an active private limited company based in Surat, Gujarat, India. The company works in specialty chemicals, within the chemicals and materials industry. It was incorporated on 17 March 2006 (20+ years old) and is registered under CIN U24110GJ2006PTC047950.

Mahavir Synthesis has 6 current directors:

The latest financial statements of Mahavir Synthesis 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 Mahavir Synthesis is 24AAFCA6894C1ZP, registered in Gujarat.

The CIN (Corporate Identification Number) of Mahavir Synthesis is U24110GJ2006PTC047950. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Mahavir Synthesis has 5 court cases on record: 4 filed by the company and 1 filed against it. 1 is pending. Most are in the district courts.

Mahavir Synthesis was incorporated on 17 March 2006, making it 20+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Mahavir Synthesis has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹4.48 Cr; the latest was in April 2012.

The peers of Mahavir Synthesis by revenue are Vinni Chemicals Pvt Ltd, Kawaken Sterling Surfactants Private Limited, Supraveni Chemicals Private Limited, Megafine Speciality Chemicals Private Limited, Gitanjali Chemicals Private Limited, all in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).

Tiruja Vatsal Naik was appointed as Director on 19 Nov 2024. Manojkumar Kanchanlal Kayastha was appointed as Director on 28 May 2022. Vipul Jivabhai Chodvadiya was appointed as Director on 28 May 2022. Mahavir Synthesis has 8 board changes on record in total.

Yes, Mahavir Synthesis is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-22-0006117).

Mahavir Synthesis has 13 MSME Form 1 returns on record between 2017 and 2024, listing 335 overdue payments to 100 micro and small suppliers. The latest return was filed on 27 Apr 2024.