MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-TN-08-0019839
Mahindra MSTC Recycling Private Limited - environment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2026
₹51.92 Cr
▲ 50% YoY
Net loss · FY 2026
₹9.39 Cr
Net margin -18.1%
EBITDA · FY 2026
-₹1.09 Cr
EBITDA margin -2.1%
Authorised capital
₹80 Cr
Registered with MCA
Paid-up capital
₹80 Cr
Issued & subscribed
Open charges
₹2.5 Cr
Secured borrowings
Company age
10 yrs
Est. 2016
Employees · EPFO
33
Provident fund records
About Mahindra MSTC Recycling Private Limited
Data last updated:
Mahindra MSTC Recycling Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Mahindra Accelo Limited (Formerly Known As Mahindra Intertrade Limited). It operates in the waste management and recycling solutions segment of the environmental services sector. It was incorporated on 16 December 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U37100MH2016PTC288535. Its GSTIN is 27AAKCM7220P1ZX (Maharashtra). The company holds 15 GST registrations, of which 12 are active.
The company has an authorised share capital of ₹80 Cr and a paid-up capital of ₹80 Cr. It is led by directors including Ajay Natvarbhai Mehta and Subrata Sarkar.
Its last annual general meeting (AGM) was held on 11 July 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mahindra Towers P. K. Kurne Chowk Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2026, the company reported a revenue of ₹51.92 Cr, a growth of 50% compared to the previous year. For the same year it recorded a net loss of ₹9.39 Cr (net margin -18.1%) and EBITDA of -₹1.09 Cr (EBITDA margin -2.1%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years and 39% over five years.
The company has about 33 employees on its provident fund (EPFO) records.
The company is associated with 3 brands: Mahindra, Cero Recycling and Mahindra Accelo. As per MCA filings, the company has open charges of ₹2.5 Cr on record. Court records list 4 cases involving the company, including 2 filed by the company and 2 filed against it; 3 cases are pending. The company has 4 deals on record (4 rights issues); the latest was in March 2023.
Mahindra MSTC Recycling Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-TN-08-0019839). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahindraaccelo.com.
Company details
CIN U37100MH2016PTC288535
Registration Number 288535
Incorporation Date 16 December 2016
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 11 July 2025
Date of Balance Sheet 31 March 2026
Parent Company Mahindra Accelo Limited (Formerly Known As Mahindra Intertrade Limited)
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-TN-08-0019839
Recognitions & Rankings of Mahindra MSTC Recycling
Contact details
Mahindra MSTC Recycling Private Limited's registered office is in Mumbai, Maharashtra. Its website is mahindraaccelo.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressMahindra Towers P. K. Kurne Chowk Worli, Mumbai, Maharashtra, India – 400018
- IndustryEnvironment, Waste Management & Recycling Solutions
To see the full contact details of Mahindra MSTC Recycling Private Limited, buy the company report.
Comprehensive company report
Mahindra MSTC Recycling 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Mahindra MSTC Recycling operates multiple associated brands including Mahindra, Cero Recycling, and Mahindra Accelo. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Diversified operations span automotive, agriculture, and financial services. | mahindra.com | |
| Provider of vehicle recycling services | cerorecycling.com | |
| Steel processing company | mahindraaccelo.com |
Business activity
The main business activity of Mahindra MSTC Recycling is manufacturing. In detail, this covers other manufacturing.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | 32 | Other manufacturing |
To see the full business activity and turnover split of Mahindra MSTC Recycling Private Limited, buy the company report.
Financials of Mahindra MSTC Recycling Private Limited
FY 2026 filings availableMahindra MSTC Recycling Private Limited reported revenue of ₹51.92 Cr (up 50% YoY) for FY 2026.
Revenue · FY 2026
₹51.92 Cr ▲ 50%
Net loss · FY 2026
₹9.39 Cr margin -18.1%
EBITDA · FY 2026
-₹1.09 Cr margin -2.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 50%
3 years · compounded
▲ 18%
5 years · compounded
▲ 39%
EBITDA CAGR growth
1 year
▲ 65%
Revenue has grown at a compounded annual rate (CAGR) of 39% over five years, including 50% growth in the latest year. EBITDA rose 65% 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 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹51.92 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹1.09 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹9.39 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
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -2.1% | ||||
| Net Profit Margin | -18.1% | ||||
| 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 Mahindra MSTC Recycling Private Limited, buy the company report.
Board of directors and KMP of Mahindra MSTC Recycling Private Limited
Mahindra MSTC Recycling Private Limited currently reports 7 directors and 1 key managerial person. 20 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ajay Natvarbhai Mehta | Director | 01 Apr 2022 | 4 Years 7 Months | Current |
| Subrata Sarkar Also directs: MSTC Limited | Director | 06 Feb 2019 | 7 Years 9 Months | Current |
| Manobendra Ghoshal Also directs: MSTC Limited | Director | 17 Jan 2024 | 2 Years 9 Months | Current |
| Jasmine Kaur Also directs: Mahindra Electrical Steel Private Limited, Mahindra Auto Steel Private Limited, Mahindra Accelo Limited and 1 more | Director | 23 Oct 2024 | 2 Years 0 Months | Current |
| Dolly Dhandhresha Also directs: Reliance Realty Limited, Internet Exchangenext.Com Limited, Worldtel Tamilnadu Private Limited and 5 more | Company Secretary | 08 Feb 2017 | 9 Years 9 Months | Current |
| Sumit Issar Also directs: Mahindra Steel Service Centre Limited, Mahindra Electrical Steel Private Limited, Mahindra Auto Steel Private Limited and 1 more | Director | 16 Dec 2016 | 9 Years 10 Months | Current |
Showing 6 of 8 current directors and KMP. View all directors and KMP
Auditor
Mahindra MSTC Recycling Private Limited is audited by B S R & Co. LLP for the financial year 2026.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2026 | 101248W/W-100022 |
Shareholding
The shareholding of Mahindra MSTC Recycling Private Limited is on record for 5 financial years, the latest being FY 2026, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Mahindra MSTC Recycling Private Limited, buy the company report.
Charges & borrowings
Open charges
₹2.5 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Oct 2025 | 101184452 | Hdfc Bank Limited | ₹2.5 Cr | Open |
Total charge records: 1 View all charges
Deals & funding
Mahindra MSTC Recycling Private Limited has 4 deals on record (4 rights issues); the latest was in March 2023.
Total deals
4
Rights issues
4
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Rights issue | ₹2.8 Cr | Investors: Mahindra Accelo Limited , MSTC Limited |
| Mar 2021 | Rights issue | ₹20 Cr | Investors: Mahindra Accelo Limited , MSTC Limited |
| Feb 2019 | Rights issue | ₹16 Cr | Investors: Mahindra Accelo Limited , MSTC Limited |
| Feb 2017 | Rights issue | ₹21 Cr | Investors: Mahindra Accelo Limited , MSTC Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mahindra MSTC Recycling Private Limited has 4 court cases on record: 2 filed by Mahindra MSTC Recycling, 2 filed against it. 3 cases are pending and 1 is disposed.
Total cases
4
Filed by the company
2
Filed against the company
2
Pending
3
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 1 | 2 |
| District courts | 1 | 1 | 1 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed against the company | Pending |
| District court, Central, Delhi | Civil suit | Filed against the company | Pending |
| High Court, MAHARASHTRA | Court case (COMMP) | Filed by the company against The Registrar of Trade Marks | Pending |
| High Court of Delhi | Writ petition | Filed by the company against Government of NCT of Delhi & Ors. | Disposed |
To see the full case history of Mahindra MSTC Recycling 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
No delayed payments to MSME suppliers are on our record for Mahindra MSTC Recycling Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Mahindra MSTC Recycling Private Limited has a workforce of 33 employees on its EPFO records as of Mar 03, 2025, across 1 active EPFO establishment.
Employee count
33
Active EPFO establishments
1
Employee growth
-21.43%
GST
Mahindra MSTC Recycling has 15 GST registrations: 12 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
15
Active
12
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAKCM7220P1ZX | Maharashtra | Active | 01 Jul 2017 |
| 09AAKCM7220P1ZV | Uttar Pradesh | Active | 22 Aug 2017 |
| 33AAKCM7220P1Z4 | Tamil Nadu | Active | 26 Dec 2018 |
| 23AAKCM7220P1Z5 | Madhya Pradesh | Active | 13 Jan 2022 |
To see the full GST registrations and return filing status of Mahindra MSTC Recycling Private Limited, buy the company report.
Recent activity
Mahindra MSTC Recycling Private Limited has 26 board changes on record since 2016: 8 appointments and 18 cessations. The latest: Sunil Kumar Mehta ceased to be Additional Director on 10 Jul 2025.
Filing
Mahindra Mstc Recycling Private Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 2.50 Cr with Charge ID 101184452 was registered on 30 Oct 2025.
AGM
Mahindra Mstc Recycling Private Limited last Annual general meeting of members was held on 11 Jul 2025 as per latest MCA records.
Ceased
Sunil Kumar Mehta ceased to be Additional Director.
Appointed
Sunil Kumar Mehta was appointed as Director.
Ceased
Jasmine Kaur ceased to be Additional Director.
Appointed
Jasmine Kaur was appointed as Director.
Ceased
Manaswini Goel ceased to be Additional Director.
Ceased
Bharat Goenka ceased to be Additional Director.
Ceased
Manobendra Ghoshal ceased to be Additional Director.
Appointed
Manobendra Ghoshal was appointed as Director.
Ceased
Ami Goda ceased to be Additional Director.
18 earlier events are in the company report.
News
Frequently asked questions
Mahindra MSTC Recycling is an active private limited company based in Mumbai, Maharashtra, India. The company works in waste management and recycling solutions, within the environment industry. It was incorporated on 16 December 2016 (10+ years old) and is registered under CIN U37100MH2016PTC288535.
Mahindra MSTC Recycling has 8 current directors and KMP:
- Ajay Natvarbhai Mehta - Director
- Subrata Sarkar - Director
- Manobendra Ghoshal - Director
- Jasmine Kaur - Director
- Sumit Issar - Director
- Vijay Harbanslal Arora - Director
- Sunil Kumar Mehta - Director
- Dolly Dhandhresha - Company Secretary
The latest financial statements of Mahindra MSTC Recycling on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 11 July 2025. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Mahindra MSTC Recycling is 27AAKCM7220P1ZX, registered in Maharashtra. The company has 15 GST registrations in all, of which 12 are active and 3 are cancelled or inactive. Other active GSTINs include 09AAKCM7220P1ZV (Uttar Pradesh), 33AAKCM7220P1Z4 (Tamil Nadu), 23AAKCM7220P1Z5 (Madhya Pradesh).
The CIN (Corporate Identification Number) of Mahindra MSTC Recycling is U37100MH2016PTC288535. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mahindra MSTC Recycling has 4 court cases on record: 2 filed by the company and 2 filed against it. 3 are pending. Most are in the high courts.
Mahindra MSTC Recycling was incorporated on 16 December 2016, making it 10+ years old. It is registered with the Registrar of Companies, Mumbai.
Mahindra MSTC Recycling has 4 deals on record (4 rights issues); the latest was in March 2023.
Sunil Kumar Mehta ceased to be Additional Director on 10 Jul 2025. Sunil Kumar Mehta was appointed as Director on 21 Jun 2025. Jasmine Kaur ceased to be Additional Director on 15 Dec 2024. Mahindra MSTC Recycling has 26 board changes on record in total.
Yes, Mahindra MSTC Recycling is registered as a small enterprise under Udyam registration (number: UDYAM-TN-08-0019839).
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
Swiggy Limited Listed company · 92 pages
BharatPe (Resilient Innovations Pvt Ltd) Unlisted company · 78 pages