About Manubhai Gems Private Limited
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Manubhai Gems Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 28 March 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U36912MH2008PTC180604. Its GSTIN is 27AAACW7711P1ZT (Maharashtra). The company holds 6 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹7 Cr and a paid-up capital of ₹7 Cr. It was formerly known as Westend Diamonds Private Limited. It is led by directors Hiren Ashwin Sagar and Samir Ashwin Sagar.
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 Shop No 5/6/7 Megh Opp Hsbc Factory Lane Corner Borivali (W), Mumbai, Maharashtra, India – 400092.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,394.51 Cr, a growth of 31% compared to the previous year. For the same year it recorded a net profit of ₹43.2 Cr (net margin 3.1%) and EBITDA of ₹68.12 Cr (EBITDA margin 4.9%). Revenue has grown at a compounded annual rate (CAGR) of 40% over three years and 33% over five years.
The company has about 216 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹114.07 Cr and satisfied charges of ₹122 Cr on record. Court records list 2 cases involving the company, including 2 filed against it; 1 case is pending. The company has 9 deals on record (7 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹2.99 Cr; the latest was in July 2021. Its 7 peer companies in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading) are compared by revenue, 3 larger and 4 smaller; the largest is Sulthan Gold Private Limited with revenue of ₹1,505.33 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 108 overdue payments to 6 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website manubhai.in.
Company details
Contact details
Manubhai Gems Private Limited's registered office is in Mumbai, Maharashtra. Its website is manubhai.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressShop No 5/6/7 Megh Opp Hsbc Factory Lane Corner Borivali (W), Mumbai, Maharashtra, India – 400092
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
To see the full contact details of Manubhai Gems Private 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
Business activity
The main business activity of Manubhai Gems is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Manubhai Gems Private Limited, buy the company report.
Financials of Manubhai Gems Private Limited
FY 2025 filings availableManubhai Gems Private Limited reported revenue of ₹1,394.51 Cr (up 31% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 33% over five years, including 31% growth in the latest year. EBITDA rose 21% 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 | ₹68.12 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | ₹43.2 Cr | ||||
| Balance Sheet | |||||
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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 | 4.9% | ||||
| Net Profit Margin | 3.1% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Manubhai Gems Private Limited, buy the company report.
Board of directors of Manubhai Gems Private Limited
Manubhai Gems has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hiren Ashwin Sagar Also directs: Incertech Private Limited, Manubhai Fine Jewellery Private Limited | Director | 28 Mar 2008 | 18 Years 7 Months | Current |
| Samir Ashwin Sagar Also directs: Manubhai Fine Jewellery Private Limited | Director | 28 Mar 2008 | 18 Years 7 Months | Current |
Peer comparison
Manubhai Gems Private Limited is compared with the 7 companies closest to it by revenue in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sulthan Gold Private Limited | ₹1,505.33 Cr (FY 2025) | 60.0% | Mangalore, Karnataka, India | |||
| Ambergate Gold Private Limited | ₹1,449.7 Cr (FY 2024) | Mumbai, Maharashtra, India | ||||
| Shah Virchand Govanji Jewellers Private Limited | ₹1,404.16 Cr (FY 2024) | 15.0% | Valsad, Gujarat, India | |||
| Manubhai Gems Private Limitedthis company | ₹1,394.51 Cr (FY 2025) | ₹43.2 Cr | 3.1% | 31.0% | 216 | Mumbai, Maharashtra, India |
| New Saravana Stores Bramandamai Private Limited | ₹1,388.89 Cr (FY 2025) | 2.0% | Chennai, Tamil Nadu, India | |||
| Rama Krishna Jewellers Private Limited | ₹1,334.97 Cr (FY 2025) | 67.0% | New Delhi, Delhi, India | |||
| Malabar Jewels and Gems Private Limited | ₹1,324.41 Cr (FY 2025) | 22.0% | Kozhikode, Kerala, India | |||
| Jeyachandran Retail Private Limited | ₹1,277.3 Cr (FY 2024) | 28.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of Manubhai Gems Private Limited, buy the company report.
Auditor
Manubhai Gems Private Limited is audited by Sundarlal Desai & Kanodia for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Sundarlal Desai & Kanodia | FY 2023 | 110560W |
Shareholding
The shareholding of Manubhai Gems Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Manubhai Gems Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 May 2025 | 101117033 | Others | ₹1.25 Cr | Open | |
| 23 Sep 2014 | 10554573 | Hdfc Bank Limited | ₹32.5 Cr | Open | |
| 29 Mar 2014 | 10506068 | Hdfc Bank Limited | ₹80.32 Cr | Open | |
| 15 Jun 2013 | 10441300 | Others | ₹37 Cr | Satisfied | |
| 13 Jul 2012 | 10367457 | Bank of India | ₹30 Cr | Satisfied |
To see the full charge records of Manubhai Gems Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Manubhai Gems Private Limited has 9 deals on record (7 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹2.99 Cr; the latest was in July 2021.
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Manubhai Fine Jewellery Private Limited , 3 individuals |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Manubhai Fine Jewellery Private Limited |
| Feb 2012 | Secondary share transfer | Undisclosed | Buyer: Ashwin Mansukhlal Sagar HUF, 3 individuals Seller: Manubhai Fine Jewellery Private Limited , 3 individuals |
| Jul 2011 | Acquisition | ₹10 Cr | Buyer: Manubhai Fine Jewellery Private Limited |
| May 2011 | Secondary share transfer | Undisclosed | Buyer: Samir Ashwin Sagar (HUF), Manubhai Fine Jewellery Private Limited Seller: an individual |
To see the full deal history of Manubhai Gems Private 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
Manubhai Gems Private Limited has 2 court cases on record: 2 filed against it. 1 case is pending and 1 is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
| High courts | 1 | 1 | 1 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Tax appeal | Filed against the company by PR Commissioner of Income Tax Central 3 | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (Sum.Civ.Suit) | Filed against the company by an individual | Disposed |
To see the full case history of Manubhai Gems 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
Manubhai Gems Private Limited has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 108 overdue payments to 6 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 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| GGC Gujrat Gold Centre Private Limited | |||
| Vajra Jewels | |||
| Ariha Diamond Jewellery Private Limited | |||
| G.P Jewellers | |||
| an individual supplier |
To see the full MSME payment records of Manubhai Gems Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Manubhai Gems Private Limited has a workforce of 216 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Manubhai Gems has 6 GST registrations: 1 active and 5 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACW7711P1ZT | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Manubhai Gems Private Limited, buy the company report.
Recent activity
Manubhai Gems Private Limited has 3 board changes on record since 2008: 2 appointments and 1 cessation. The latest: Ashwin Mansukhlal Sagar ceased to be Director on 19 Jul 2021.
9 earlier events are in the company report.
Frequently asked questions
Manubhai Gems is an active private limited company based in Mumbai, Maharashtra, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 28 March 2008 (18+ years old) and is registered under CIN U36912MH2008PTC180604.
Manubhai Gems has 2 current directors:
- Hiren Ashwin Sagar - Director
- Samir Ashwin Sagar - Director
The latest financial statements of Manubhai Gems 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 Manubhai Gems is 27AAACW7711P1ZT, registered in Maharashtra. The company has 6 GST registrations in all, of which 1 is active and 5 are cancelled or inactive.
The CIN (Corporate Identification Number) of Manubhai Gems is U36912MH2008PTC180604. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Manubhai Gems has 2 court cases on record: 2 filed against it. 1 is pending. Most are in the district courts.
Manubhai Gems was incorporated on 28 March 2008, making it 18+ years old. It is registered with the Registrar of Companies, Mumbai.
Manubhai Gems has 9 deals on record (7 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹2.99 Cr; the latest was in July 2021.
The peers of Manubhai Gems by revenue are Sulthan Gold Private Limited, Ambergate Gold Private Limited, Shah Virchand Govanji Jewellers Private Limited, New Saravana Stores Bramandamai Private Limited, Rama Krishna Jewellers Private Limited and 2 more, all in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading).
Ashwin Mansukhlal Sagar ceased to be Director on 19 Jul 2021. Hiren Ashwin Sagar was appointed as Director on 28 Mar 2008. Samir Ashwin Sagar was appointed as Director on 28 Mar 2008.
Manubhai Gems has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 108 overdue payments to 6 micro and small suppliers. The latest return was filed on 31 May 2019.
Manubhai Gems can be reached through the website manubhai.in. Its registered office is in Mumbai, Maharashtra, India.
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