MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2022-23)
- Udyam number
- UDYAM-GJ-01-0001871
Marudhar Industries Limited - packaging in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹321.81 Cr
▼ 3% YoY
Net profit · FY 2025
₹1.29 Cr
Net margin 0.4%
EBITDA · FY 2025
₹21.25 Cr
EBITDA margin 6.6%
Authorised capital
₹15 Cr
Registered with MCA
Paid-up capital
₹11.73 Cr
Issued & subscribed
Open charges
₹159.79 Cr
Satisfied ₹115.73 Cr
Company age
43 yrs
Est. 1983
Employees · EPFO
348
Provident fund records
About Marudhar Industries Limited
Data last updated:
Marudhar Industries Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the packaging films and foils segment of the packaging sector. It was incorporated on 18 May 1983 and has been in existence for over 43 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L91110GJ1983PLC022203. Its GSTIN is 24AABCM4070C1Z1 (Gujarat). The company holds 3 GST registrations, of which 2 are active. It is a listed company as per MCA records.
The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹11.73 Cr. It was formerly known as Kartic Traders & Exporters Limited. It is led by directors including Naresh Jain Santoshkumar (Managing Director) and Bhavesh Santoshkumar Jain (Whole-Time Director).
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 611 G I D C Phase IV Vatvaindl Estate Vatva, Ahmedabad, Gujarat, India – 382445.
As per the financials filed for FY 2025, the company reported a revenue of ₹321.81 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net profit of ₹1.29 Cr (net margin 0.4%) and EBITDA of ₹21.25 Cr (EBITDA margin 6.6%). Revenue has grown at a compounded annual rate (CAGR) of 1% over three years and 9% over five years.
The company has about 348 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹159.79 Cr and satisfied charges of ₹115.73 Cr on record. Court records list 15 cases involving the company, including 5 filed by the company and 10 filed against it; 3 cases are pending.
Marudhar Industries Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0001871). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website marudharindia.com.
Company details
CIN L91110GJ1983PLC022203
Registration Number 022203
Incorporation Date 18 May 1983
ROC Ahmedabad
Listing Status Listed
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-01-0001871
CIN history
Marudhar Industries has one previous CIN (Corporate Identification Number): L91110GJ1994PLC022203. The current CIN is L91110GJ1983PLC022203, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L91110GJ1983PLC022203 | Current |
| L91110GJ1994PLC022203 | Previous |
Key People
Naresh Jain Santoshkumar Managing Director Bhavesh Santoshkumar Jain Whole-Time Director Subhashchandra Kanhaiyalal Mandavat Director Recognitions & Rankings of Marudhar Industries
Contact details
Marudhar Industries Limited's registered office is in Ahmedabad, Gujarat. Its website is marudharindia.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address611 G I D C Phase IV Vatvaindl Estate Vatva, Ahmedabad, Gujarat, India – 382445
- IndustryPackaging, Packaging Films & Foils
To see the full contact details of Marudhar Industries Limited, buy the company report.
Comprehensive company report
Marudhar Industries 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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Business activity
The main business activity of Marudhar Industries 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 Marudhar Industries Limited, buy the company report.
Financials of Marudhar Industries Limited
FY 2025 filings availableMarudhar Industries Limited reported revenue of ₹321.81 Cr (down 3% YoY) for FY 2025.
Revenue · FY 2025
₹321.81 Cr ▼ 3%
Net profit · FY 2025
₹1.29 Cr margin 0.4%
EBITDA · FY 2025
₹21.25 Cr margin 6.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 3%
3 years · compounded
▼ 1%
5 years · compounded
▲ 9%
EBITDA CAGR growth
1 year
▲ 12%
3 years · compounded
▲ 9%
5 years · compounded
▲ 4%
Revenue fell 3% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 9%. EBITDA rose 12% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹321.81 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹21.25 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.29 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 6.6% | ||||
| Net Profit Margin | 0.4% | ||||
| 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 Marudhar Industries Limited, buy the company report.
Board of directors of Marudhar Industries Limited
Marudhar Industries has 5 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bhavesh Santoshkumar Jain | Whole-Time Director | 15 May 2010 | 16 Years 5 Months | Current |
| Subhashchandra Kanhaiyalal Mandavat | Director | 05 Jan 2023 | 3 Years 10 Months | Current |
| Pawan Kumar Murarka Also directs: Parixit Irrigation Limited, Chandresh Cables Limited, Heritage Infraspace (India) Limited and 5 more | Director | 05 Jan 2023 | 3 Years 10 Months | Current |
| Poojan Bhandari | Director | 21 Feb 2022 | 4 Years 8 Months | Current |
| Naresh Jain Santoshkumar Also directs: Redshift Engineering LLP, Marudhar Aluminium Limited, Shatrunjay Foils Limited and 1 more | Managing Director | 01 Aug 2001 | 25 Years 3 Months | Current |
Auditor
Marudhar Industries Limited is audited by HITESH PRAKASH SHAH & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| HITESH PRAKASH SHAH & CO | FY 2023 | 127614W |
Shareholding
The shareholding of Marudhar Industries Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Marudhar Industries Limited, buy the company report.
Charges & borrowings
Open charges
₹159.79 Cr
Satisfied charges
₹115.73 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Dec 2025 | 101229365 | Others | ₹3 Cr | Open | |
| 25 Aug 2025 | 101155968 | Others | ₹14.9 Cr | Open | |
| 20 Jan 2016 | 10616966 | Others | ₹48.3 Cr | Open | |
| 21 Jul 2014 | 10518901 | Others | ₹22.4 Cr | Open | |
| 24 Jul 2012 | 10366756 | Hdfc Bank Limited | ₹71.19 Cr | Open |
To see the full charge records of Marudhar Industries Limited, buy the company report.
Total charge records: 16 View all charges
Legal cases
Marudhar Industries Limited has 15 court cases on record: 5 filed by Marudhar Industries, 10 filed against it. 3 cases are pending and 12 are disposed.
Total cases
15
Filed by the company
5
Filed against the company
10
Pending
3
Disposed
12
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 11 | 7 | 3 |
| High courts | 4 | 3 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Arbitration matter | Filed by the company against The New India Assurance Co. Ltd. | Disposed |
| District court, Ahmedabad, Gujarat | Court case (REFER-T-LC) | Filed against the company by an individual | Pending |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed by the company against an individual | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Rakesh Mishra- Balaji Enterprises | Pending |
| District court, Ahmedabad, Gujarat | Court case (RECO33C2-LC) | Filed against the company by an individual | Disposed |
To see the full case history of Marudhar Industries 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
Marudhar Industries Limited was last rated by Acuite on 10 Jul 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Acuite | 10 Jul 2026 |
To see the full credit ratings and regulatory alerts of Marudhar Industries Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Marudhar Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Marudhar Industries has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Sambhav Machinery Manufactures Private Limited | U29119GJ1992PTC018628 |
To see the full group structure of Marudhar Industries Limited, buy the company report.
Employees & EPFO
Marudhar Industries Limited has a workforce of 348 employees on its EPFO records as of Mar 29, 2024, across 2 active EPFO establishments.
Employee count
348
Active EPFO establishments
2
Employee growth
4.19%
GST
Marudhar Industries has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCM4070C1Z1 | Gujarat | Active | 01 Jul 2017 |
| 24AABCM4070C2Z0 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Marudhar Industries Limited, buy the company report.
Recent activity
Marudhar Industries Limited has 14 board changes on record since 2001: 5 appointments and 9 cessations. The latest: Pawan Kumar Murarka was appointed as Director on 05 Jan 2023.
Charges
A charge with Hdfc Bank Limited of Rs. 71.19 Cr registered on 24 Jul 2012 with Charge ID 10366756 was modified on 31 Mar 2026.
Charges
A charge registered on 23 Dec 2020 via Charge ID 100411730 with Others was fully satisfied on 07 Jan 2026.
Charges
A charge with Others amounted to Rs. 3.00 Cr with Charge ID 101229365 was registered on 10 Dec 2025.
AGM
Marudhar Industries Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 14.90 Cr with Charge ID 101155968 was registered on 25 Aug 2025.
Charges
A charge registered on 02 Jul 2024 via Charge ID 100952620 with Others was fully satisfied on 16 Jul 2025.
Filing
Marudhar Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge with Others amounted to Rs. 18.00 Cr with Charge ID 100952620 was registered on 02 Jul 2024.
Charges
A charge with Others of Rs. 17.11 Cr registered on 23 Dec 2020 with Charge ID 100411730 was modified on 20 Jan 2024.
Charges
A charge with Others of Rs. 48.30 Cr registered on 20 Jan 2016 with Charge ID 10616966 was modified on 20 Jan 2024.
Appointed
Pawan Kumar Murarka was appointed as Director.
Appointed
Subhashchandra Kanhaiyalal Mandavat was appointed as Director.
42 earlier events are in the company report.
Frequently asked questions
Marudhar Industries is an active public limited company based in Ahmedabad, Gujarat, India. The company works in packaging films and foils, within the packaging industry. It was incorporated on 18 May 1983 (43+ years old) and is registered under CIN L91110GJ1983PLC022203.
Marudhar Industries has 5 current directors:
- Naresh Jain Santoshkumar - Managing Director
- Bhavesh Santoshkumar Jain - Whole-Time Director
- Subhashchandra Kanhaiyalal Mandavat - Director
- Pawan Kumar Murarka - Director
- Poojan Bhandari - Director
The latest financial statements of Marudhar Industries 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 Marudhar Industries is 24AABCM4070C1Z1, registered in Gujarat. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 24AABCM4070C2Z0 (Gujarat).
The CIN (Corporate Identification Number) of Marudhar Industries is L91110GJ1983PLC022203. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Marudhar Industries is a listed company as per MCA records.
Marudhar Industries has 15 court cases on record: 5 filed by the company and 10 filed against it. 3 are pending. Most are in the district courts.
Marudhar Industries was incorporated on 18 May 1983, making it 43+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Pawan Kumar Murarka was appointed as Director on 05 Jan 2023. Subhashchandra Kanhaiyalal Mandavat was appointed as Director on 05 Jan 2023. Poojan Bhandari was appointed as Director on 21 Feb 2022. Marudhar Industries has 14 board changes on record in total.
Yes, Marudhar Industries is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-01-0001871).
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