Marshall Machines Limited

NSE: MARSHALL
Marshall Machines Limited - machinery and equipment in Ludhiana, Punjab, India. FY 2026 financials & compliance.
CIN L29299PB1994PLC014605 Incorporated 23 May 1994 ROC Chandigarh HQ Ludhiana, Punjab, India
Under Insolvency Listed - NSE: MARSHALL Public Limited Company machinery and equipment
Data last updated
Revenue · FY 2023
₹37 Cr
▼ 39% YoY
Net loss · FY 2023
₹6.9 Cr
Net margin -18.6%
EBITDA · FY 2023
₹1.09 Cr
EBITDA margin 3%
Authorised capital
₹25 Cr
Registered with MCA
Paid-up capital
₹23.9 Cr
Issued & subscribed
Open charges
₹53.39 Cr
Satisfied ₹58.31 Cr
Company age
32 yrs
Est. 1994
Employees · EPFO
76
Provident fund records

About Marshall Machines Limited

Data last updated:

Marshall Machines Limited is a public limited company based in Ludhiana, Punjab, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the process machinery and industrial equipment segment of the machinery and industrial equipment sector. It was incorporated on 23 May 1994.

The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN L29299PB1994PLC014605. Its GSTIN is 03AADCM1377N1ZC (Punjab). The company holds 2 GST registrations, of which 1 is active. Its shares are listed on NSE: MARSHALL.

The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹23.9 Cr. It was formerly known as Marshall Machines Private Limited and V. B. Spinning Mills Private Limited. It is led by directors including Gaurav Sarup (Managing Director) and Prashant Sarup (Whole-Time Director).

Its last annual general meeting (AGM) was held on 29 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at C 86 Phase V Focal Point, Ludhiana, Punjab, India.

As per the financials filed for FY 2023, the company reported a revenue of ₹37 Cr, a decline of 39% compared to the previous year. For the same year it recorded a net loss of ₹6.9 Cr (net margin -18.6%) and EBITDA of ₹1.09 Cr (EBITDA margin 3%). Revenue has declined at a compounded annual rate (CAGR) of 15% over three years and 9% over five years.

The company has about 76 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Marshall Machines. As per MCA filings, the company has open charges of ₹53.39 Cr and satisfied charges of ₹58.31 Cr on record. Court records list 135 cases involving the company, including 25 filed by the company and 108 filed against it; 57 cases are pending. The company has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025. Its 10 peer companies in the Machinery and Equipment industry (Machine Tools) are compared by revenue, 5 larger and 5 smaller; the largest is Planetto Tooltech Private Limited with revenue of ₹38.83 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2024, listing 152 overdue payments to 35 micro and small suppliers.

The last known website on record is marshallcnc.com.

Company Details of Marshall Machines Limited
CIN L29299PB1994PLC014605
Registration Number 014605
Incorporation Date 23 May 1994
ROC Chandigarh
Listing Status Listed (NSE: MARSHALL)
Company Status Under CIRP
Date of Last AGM 29 September 2023
Date of Balance Sheet 31 March 2023
Compliance Status Active Compliant
Key People
Gaurav Sarup Managing Director Prashant Sarup Whole-Time Director Siddhant Sarup Whole-Time Director
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    marshallcnc.com
  • Social Media
  • Registered Address
    C 86 Phase V Focal Point, Ludhiana, Punjab, India
  • Industry
    Machinery and Equipment, Process Machinery & Industrial Equipment
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Financials, compliance, directors, charges, ownership and filings for Marshall Machines Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Business Activity of Marshall Machines Limited

The main business activities of Marshall Machines are manufacturing and trade. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and retail trading. 2 activity segments are registered with the MCA.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipmentLocked
GTradeG2Retail TradingLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
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Financials of Marshall Machines Limited FY 2023 filings available

Marshall Machines Limited reported revenue of ₹37 Cr (down 39% YoY) for FY 2023.

Revenue · FY 2023
₹37 Cr ▼ 39%
Net loss · FY 2023
₹6.9 Cr margin -18.6%
EBITDA · FY 2023
₹1.09 Cr margin 3%

Compounded Annual Growth Rate (CAGR) of Marshall Machines Limited

Revenue CAGR growth
1 year
▼ 39%
3 years · compounded
▼ 15%
5 years · compounded
▼ 9%
EBITDA CAGR growth
1 year
▼ 84%
3 years · compounded
▼ 59%
5 years · compounded
▼ 39%

Revenue has declined at a compounded annual rate (CAGR) of 9% over five years, including a 39% fall in the latest year. EBITDA fell 84% 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 of Marshall Machines Limited

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Profit and Loss Statement
Revenue from Operations••••••••••••••••••••
Other Income••••••••••••••••••••
Total Revenue₹37 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)-₹6.9 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 of Marshall Machines Limited

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Profitability
EBITDA Margin3%••••••••••••••••
Net Profit Margin-18.6%••••••••••••••••
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••••••••••••••••••••

Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Marshall Machines are in the company report.

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Financial statements from 2015

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Peer Comparison of Marshall Machines Limited

Marshall Machines Limited is compared with the companies closest to it by revenue in the Machinery and Equipment industry (Machine Tools). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Planetto Tooltech Private Limited₹38.83 Cr (FY 2025)••••••••1.0%••••Khed, Maharashtra, India
Planet Power Tools Private Limited₹38.61 Cr (FY 2025)••••••••-20.0%••••Mumbai, Maharashtra, India
Eifco Machine Tools Private Limited₹38.04 Cr (FY 2025)••••••••23.0%••••Coimbatore, Tamil Nadu, India
Sahil Alloys and Machine Tools Private Limited₹37.8 Cr (FY 2017)••••••••178.0%••••Ludhiana, Punjab, India
Agra Machine Tools Private Limited₹37.46 Cr (FY 2024)••••••••11.0%••••Agra Up, Uttar Pradesh, India
Marshall Machines Limited this company₹37 Cr (FY 2023)••••••••-39.0%••••Ludhiana, Punjab, India
Shefield Technoplast Private Limited₹36.98 Cr (FY 2025)••••••••7.0%••••Vadodara, Gujarat, India
Geeta Machine Tools Private Limited₹36.84 Cr (FY 2025)••••••••98.0%••••Jamnagar, Gujarat, India
Airpack Compressor Teknologies Private Limited₹36.76 Cr (FY 2025)••••••••9.0%••••New Delhi, Delhi, India
Shantala Automation Private Limited₹36.73 Cr (FY 2025)••••••••12.0%••••Shimoga, Karnataka, India
Onse Machine Tools Private Limited₹36.07 Cr (FY 2024)••••••••42.0%••••Faridabad, Haryana, India

Peers are the five companies nearest above and the five nearest below Marshall Machines by revenue in the Machinery and Equipment industry (Machine Tools), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Auditor Details of Marshall Machines Limited

Marshall Machines Limited is audited by S. SOOD & CO. for the financial year 2023.

NameStatusAppointment DateCessation Date
S. SOOD & CO.LockedLockedLocked
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Board of Directors of Marshall Machines Limited

Marshall Machines has 3 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.

Directors (as last reported)
NameDesignationAppointment DateTenureStatus
Prashant SarupWhole-Time Director28 Feb 200224 Years 7 MonthsAs last reported
Siddhant SarupWhole-Time Director29 Mar 20179 Years 6 MonthsAs last reported
Gaurav SarupManaging Director11 Mar 200224 Years 7 MonthsAs last reported
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Ownership and Shareholding of Marshall Machines Limited

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Charges & Borrowings of Marshall Machines Limited

Open charges
₹53.39 Cr
Satisfied charges
₹58.31 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹32.65 Cr
Tata Capital Financial Services Limited₹8.80 Cr
Others₹8.35 Cr
Sidbi₹3.59 Cr
Latest charge details
DateLenderAmountStatus
26 Oct 2023Others₹3.9 CrOpen
26 Mar 2021Tata Capital Financial Services Limited₹60 LakhOpen
25 Aug 2020Sidbi₹58.89 LakhOpen
24 Jul 2020Tata Capital Financial Services Limited₹75 LakhOpen
24 Jul 2019Sidbi₹3 CrOpen

Total charge records: 34 View all charges

Deals & Funding of Marshall Machines Limited

Marshall Machines Limited has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025.

Total deals
66
Market trades
65
IPO
1

Deals on record (5 of 66)

WhenDealAmountParties
Sep 2024Market trade₹51.3 LakhBuyer: Qe Securities LLP
Seller: Qe Securities LLP
Sep 2024Market trade₹1.14 CrBuyer: Qe Securities LLP , Kabeelon Sales Corp
Seller: Qe Securities LLP , Kabeelon Sales Corp
Sep 2024Market trade₹2.71 CrBuyer: Elan Ventures Private Limited , Qe Securities LLP , Magpro Securities Private Limited
Seller: Elan Ventures Private Limited , Qe Securities LLP , Mahevarsh Fincon Private Limited
Sep 2024Market trade₹3.36 CrBuyer: Elan Ventures Private Limited , Mahevarsh Fincon Private Limited , an individual
Seller: Elan Ventures Private Limited , Mahevarsh Fincon Private Limited , an individual
Sep 2024Market trade₹55 LakhBuyer: Liesha Corporation Private Limited
Seller: Liesha Corporation Private Limited
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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME Payment Delays by Marshall Machines Limited

Marshall Machines Limited has 9 MSME Form 1 returns on record between 2019 and 2024, listing 152 overdue payments to 35 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 35)

SupplierAmount dueDue sinceReported on
an individual supplier••••••••••••
an individual supplier••••••••••••
an individual supplier••••••••••••
Litratim Micro Specialities Pvt Ltd••••••••••••
an individual supplier••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 9 MSME Form 1 returns is in the company report.

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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Associated Brands with Marshall Machines Limited

Marshall Machines operates one associated brand: Marshall Machines. Each brand links to its own profile.

BrandDescriptionWebsite
Marshall Machines
High-precision CNC turning centers and machining solutions are manufactured.marshallcnc.com

Employees and EPFO Compliance at Marshall Machines Limited

Marshall Machines Limited has a workforce of 76 employees as of Oct 09, 2025.

Employee count
76
Active EPFO establishments
2
Employee growth
4.11%
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Employee and EPFO history

Monthly headcount, contribution history and filing status are in the company report.

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Name History of Marshall Machines Limited

Marshall Machines has undergone 2 name changes throughout its history. The company was previously known as Marshall Machines Private Limited, and V. B. Spinning Mills Private Limited. The current legal name is Marshall Machines Limited.

Company NameStatus
Marshall Machines LimitedCurrent
Marshall Machines Private LimitedPrevious
V. B. Spinning Mills Private LimitedPrevious

CIN History of Marshall Machines Limited

Marshall Machines has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L29299PB1994PLC014605, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L29299PB1994PLC014605Current
U29299PB1994PTC014605Previous
U29299PB1994PLC014605Previous

News related to Marshall Machines Limited

Marshall Machines to convene board meeting
02 Feb 2025 · India Infoline

Recent Activity on Marshall Machines Limited

Marshall Machines Limited has 27 board changes on record since 2002: 15 appointments and 12 cessations. The latest: Archana Sarup ceased to be Whole-Time Director on 11 Jul 2025.

Ceased
Archana Sarup ceased to be Whole-Time Director.
Ceased
Satvinder Singh ceased to be Director.
Ceased
Surinder Bir Singh ceased to be Director.
Ceased
Anil Singla ceased to be Director.
Ceased
Rita Aggarwal ceased to be Director.
Charges
A charge with Others amounted to Rs. 3.90 Cr with Charge ID 100817399 was registered on 26 Oct 2023.
AGM
Marshall Machines Limited last Annual general meeting of members was held on 29 Sep 2023 as per latest MCA records.
Ceased
Komal Kathuria ceased to be Additional Director.
Appointed
Surinder Bir Singh was appointed as Director.
Filing
Marshall Machines Limited has filed its annual Financial statements for the year ended 31 Mar 2023 with Roc Chandigarh.
Ceased
Sharon Arora ceased to be Director.
Charges
A charge with Hdfc Bank Limited of Rs. 32.65 Cr registered on 16 Nov 2018 with Charge ID 100218326 was modified on 28 Jun 2022.

79 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Marshall Machines Limited

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Subsidiaries & Group Companies of Marshall Machines Limited

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GST Compliance of Marshall Machines Limited

Marshall Machines has 2 GST registrations: 1 active and 1 cancelled or inactive.

Total GSTINs
2
Active
1
Cancelled / inactive
1
GSTINStateStatusRegistered on
03AADCM1377N1ZCPunjabActive01 Jul 2017
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GST registrations and filing compliance

State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.

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MCA Filings & Documents of Marshall Machines Limited

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MCA filings and documents

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Frequently Asked Questions about Marshall Machines Limited

Marshall Machines is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.

Marshall Machines is a company under insolvency, formerly operating as a public limited company based in Ludhiana, Punjab, India. The company works in process machinery and industrial equipment, within the machinery and equipment industry. It was incorporated on 23 May 1994 and is registered under CIN L29299PB1994PLC014605. Listed on NSE: MARSHALL. Caution is advised - the company may not have the legal capacity to fulfil new agreements.

Marshall Machines reported revenue of ₹37 Cr for FY 2023 (down 39% YoY).

Marshall Machines has 3 current directors:

Marshall Machines reported a net loss of ₹6.9 Cr (net margin -18.6%) and EBITDA of ₹1.09 Cr (EBITDA margin 3%) for FY 2023, as per its filed financial statements.

The compounded annual growth rate (CAGR) of the revenue of Marshall Machines is -15% over three years and -9% over five years. In the latest year (FY 2023) revenue fell 39%. CAGR is the steady yearly rate that links the first and the last year.

The CIN (Corporate Identification Number) of Marshall Machines is L29299PB1994PLC014605. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Marshall Machines is listed on NSE with symbol MARSHALL.

Marshall Machines has open charges of ₹53.39 Cr and satisfied charges of ₹58.31 Cr as per latest MCA filings.

Marshall Machines has 135 court cases on record: 25 filed by the company and 108 filed against it. 57 are pending. Most are in the district courts.

Marshall Machines was incorporated on 23 May 1994. It is registered with the Registrar of Companies, Chandigarh.

Marshall Machines has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025.

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