About De-Maithan Ispat Limited
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De-Maithan Ispat Limited is a public limited company based in Kolkata, West Bengal, India, a subsidiary of Mideast Integrated Steels Limited. It operates in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 27 August 2003 and has been in existence for over 23 years.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U27109WB2003PLC096854. Its GSTIN is 19AADCM7360B2ZK (West Bengal). The company holds 6 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹710.59 Cr. It was formerly known as Mal Industries Limited. It is led by directors including Shipra Singh Rana (Whole-Time Director) and Nurani Shankar Parameswaran.
Its last annual general meeting (AGM) was held on 25 August 2025, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Kolkata, West Bengal.
As per the financials filed for FY 2025, the company reported a revenue of ₹574.26 Cr, a decline of 22% compared to the previous year. For the same year it recorded a net loss of ₹91.07 Cr (net margin -15.9%) and EBITDA of ₹36.4 Cr (EBITDA margin 6.3%). Revenue has grown at a compounded annual rate (CAGR) of 60% over three years and 167% over five years.
The company has about 238 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Maithan Ispat and Mesco Steel. As per MCA filings, the company has open charges of ₹1,534.95 Cr and satisfied charges of ₹3,383.98 Cr on record. Court records list 64 cases involving the company, including 15 filed by the company and 49 filed against it; 21 cases are pending. The company has 15 deals on record (8 funding rounds, 7 secondary share transfers), with disclosed funding of ₹690.33 Cr; the latest was in February 2017. Its 6 peer companies in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products) are compared by revenue, 4 larger and 2 smaller; the largest is Sai Infinium Limited with revenue of ₹580.7 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 mescosteel.com.
Company details
Name history
De-Maithan Ispat has undergone 2 name changes throughout its history. The company was previously known as Mal Industries Limited, and De-Maithan Ispat Limited. The current legal name is De-Maithan Ispat Limited.
| Company Name | Status |
|---|---|
| De-Maithan Ispat Limited | Current |
| Mal Industries Limited | Previous |
Contact details
De-Maithan Ispat Limited's registered office is in Kolkata, West Bengal. Its website is mescosteel.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address16 Strand Road Diamond Heritage, 14th Floor Room – 1412, Kolkata, West Bengal, India – 700001
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of De-Maithan Ispat Limited, buy the company report.
- 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
Brands
De-Maithan Ispat operates two associated brands: Maithan Ispat and Mesco Steel. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Secondary cast steel products are manufactured by Maithan Ispat. | maithanispat.com | |
| Steel production, iron ore mining, and raw material handling in India. | mescosteel.com |
Business activity
The main business activity of De-Maithan Ispat is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of De-Maithan Ispat Limited, buy the company report.
Financials of De-Maithan Ispat Limited
FY 2019 filings availableDe-Maithan Ispat Limited reported revenue of ₹574.26 Cr (down 22% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 22% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 167%. EBITDA rose 16% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹36.4 Cr | ||||
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| Net Profit (PAT) | -₹91.07 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 6.3% | ||||
| Net Profit Margin | -15.9% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of De-Maithan Ispat Limited, buy the company report.
Board of directors of De-Maithan Ispat Limited
De-Maithan Ispat has 5 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nurani Shankar Parameswaran Also directs: Saarc Helicopters LLP, Mesco Pharmaceuticals Limited, Forrester Foods Private Limited and 2 more | Director | 30 Oct 2019 | 6 Years 11 Months | Current |
| Prasant Kumar Misra Also directs: Mideast Integrated Steels Limited | Director | 31 Aug 2024 | 2 Years 1 Months | Current |
| Shipra Singh Rana Also directs: Pahardia Gold Mining Limited, Swadesh and International Exports Limited, Mesco GJD Aerospace Private Limited and 1 more | Whole-Time Director | 30 Mar 2016 | 10 Years 6 Months | Current |
| Amarendra Khatua | Director | 31 Aug 2024 | 2 Years 1 Months | Current |
| Amit Gupta Also directs: Aarthtech Earthworks LLP, Devika Ventures and Industries Private Limited, Bonai Ispat Private Limited and 4 more | Director | 01 Apr 2023 | 3 Years 6 Months | Current |
Peer comparison
De-Maithan Ispat Limited is compared with the 6 companies closest to it by revenue in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sai Infinium Limited | ₹580.7 Cr (FY 2025) | 28.0% | Bhavnagar, Gujarat, India | |||
| Devi Iron and Power Private Limited | ₹580.45 Cr (FY 2025) | 55.0% | Panvel, Maharashtra, India | |||
| German TMT Private Limited | ₹578.27 Cr (FY 2025) | -8.0% | Ahmedabad, Gujarat, India | |||
| Jogindra Castings Private Limited | ₹577.51 Cr (FY 2025) | -15.0% | New Delhi, Delhi, India | |||
| De-Maithan Ispat Limitedthis company | ₹574.26 Cr (FY 2025) | -₹91.07 Cr | -15.9% | -22.0% | 238 | Kolkata, West Bengal, India |
| Balajee Loha Private Limited | ₹570.79 Cr (FY 2025) | 8.0% | Raipur, Chhattisgarh, India | |||
| Shri Shyam Ispat(India) Private Limited | ₹568.86 Cr (FY 2025) | -5.0% | Raipur, Chhattisgarh, India |
To see the full peer comparison of De-Maithan Ispat Limited, buy the company report.
Auditor
De-Maithan Ispat Limited is audited by Arun Todarwal & Associates LLP for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Arun Todarwal & Associates LLP | FY 2021 | W100291 |
Shareholding
The shareholding of De-Maithan Ispat Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of De-Maithan Ispat Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Apr 2024 | 100915765 | Sbicap Trustee Company Limited | ₹502 Cr | Open | |
| 19 Nov 2021 | 100499827 | Others | ₹250 Cr | Open | |
| 17 Nov 2015 | 10607361 | Sbicap Trustee Company Limited | ₹782.95 Cr | Open | |
| 31 Mar 2015 | 10565060 | State Bank of India | ₹613.95 Cr | Satisfied | |
| 31 Mar 2015 | 10565062 | State Bank of India | ₹169 Cr | Satisfied |
To see the full charge records of De-Maithan Ispat Limited, buy the company report.
Total charge records: 19 View all charges
Deals & funding
De-Maithan Ispat Limited has 15 deals on record (8 funding rounds, 7 secondary share transfers), with disclosed funding of ₹690.33 Cr; the latest was in February 2017.
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2017 | Funding round | ₹86.41 Cr | Investors: Mideast Integrated Steels Limited |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Mesco Logistics Limited , Twenty First Century Finance Ltd , Mideast (India) Limited Seller: Mideast Integrated Steels Limited |
| Mar 2016 | Funding round | ₹56.39 Cr | Investors: Mideast Integrated Steels Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Mideast Integrated Steels Limited , Rockwell Merchants Private Limited , Rockstar Commotrade Private Limited Seller: Orix Corporation, Others Maithan Ispat Ltd., Toplight Tradelink Pvt Ltd |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Mideast Integrated Steels Limited Seller: Woodhat Distributors Pvt Ltd , Topline Dealers Pvt Ltd , Abha Properties & Projects Ltd |
To see the full deal history of De-Maithan Ispat Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
De-Maithan Ispat Limited has 64 court cases on record: 15 filed by De-Maithan Ispat, 49 filed against it. 21 cases are pending and 43 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 31 | 25 | 14 |
| High courts | 20 | 11 | 5 |
| NCLT | 11 | 11 | 0 |
| NCLAT | 2 | 2 | 2 |
Cases on record (5 of 64)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Calcutta High Court | Court case (CO) | Filed by the company against HMB Ispat Private Limited | Pending |
| District court, Cuttack, Odisha | Court case (Ex.P.) | Filed against the company by Raigarh Minerals Private Limited | Pending |
| District court, Fatehgarh Sahib, Punjab | Civil suit | Filed against the company by M/S Megha Multimetals Pvt Ltd | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Shark Mines & Minerals Pvt.Ltd | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Shark Mines & Minerals Pvt.Ltd | Pending |
To see the full case history of De-Maithan Ispat 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.
Credit ratings & regulatory alerts
De-Maithan Ispat Limited was last rated by Care on 14 Sep 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 14 Sep 2022 |
To see the full credit ratings and regulatory alerts of De-Maithan Ispat Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for De-Maithan Ispat Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
De-Maithan Ispat has 1 associated company. This group structure data is as of FY 2021. The table lists each entity with its relationship and holding.
Employees & EPFO
De-Maithan Ispat Limited has a workforce of 238 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
De-Maithan Ispat has 6 GST registrations: 2 active and 4 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AADCM7360B2ZK | West Bengal | Active | 12 Oct 2017 |
| 21AADCM7360B1Z0 | Odisha | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of De-Maithan Ispat Limited, buy the company report.
Recent activity
De-Maithan Ispat Limited has 28 board changes on record since 2013: 5 appointments and 23 cessations. The latest: Amarendra Khatua ceased to be Additional Director on 29 Sep 2024.
58 earlier events are in the company report.
Frequently asked questions
De-Maithan Ispat is an active public limited company based in Kolkata, West Bengal, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 27 August 2003 (23+ years old) and is registered under CIN U27109WB2003PLC096854.
De-Maithan Ispat has 5 current directors:
- Shipra Singh Rana - Whole-Time Director
- Nurani Shankar Parameswaran - Director
- Prasant Kumar Misra - Director
- Amarendra Khatua - Director
- Amit Gupta - Director
The latest financial statements of De-Maithan Ispat on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 25 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of De-Maithan Ispat is 19AADCM7360B2ZK, registered in West Bengal. The company has 6 GST registrations in all, of which 2 are active and 4 are cancelled or inactive. Other active GSTINs include 21AADCM7360B1Z0 (Odisha).
The CIN (Corporate Identification Number) of De-Maithan Ispat is U27109WB2003PLC096854. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
De-Maithan Ispat has 64 court cases on record: 15 filed by the company and 49 filed against it. 21 are pending. Most are in the district courts.
De-Maithan Ispat was incorporated on 27 August 2003, making it 23+ years old. It is registered with the Registrar of Companies, Kolkata.
De-Maithan Ispat has 15 deals on record (8 funding rounds, 7 secondary share transfers), with disclosed funding of ₹690.33 Cr; the latest was in February 2017.
The peers of De-Maithan Ispat by revenue are Sai Infinium Limited, Devi Iron and Power Private Limited, German TMT Private Limited, Jogindra Castings Private Limited, Balajee Loha Private Limited and 1 more, all in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products).
Amarendra Khatua ceased to be Additional Director on 29 Sep 2024. Prasant Kumar Misra ceased to be Additional Director on 29 Sep 2024. Amarendra Khatua was appointed as Director on 31 Aug 2024. De-Maithan Ispat has 28 board changes on record in total.
De-Maithan Ispat can be reached through the website mescosteel.com. Its registered office is in Kolkata, West Bengal, India.