About Merind Limited
Data last updated:
Merind Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Dartmour Holdings Private Limited. It operates in the real estate financing segment of the financial services sector. It was incorporated on 04 November 1958 and has been in existence for over 68 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24239MH1958PLC011204. Its GSTIN is 27AAACM2735P3Z3 (Maharashtra). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹4.2 Cr and a paid-up capital of ₹3.64 Cr. It is led by directors including Stephen Sabbas Dsouza and Zahabiya Habil Khorakiwala.
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 Readymoney Terrace 2nd Floor Room No. 5 167 Dr. Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2025, the company reported a revenue of ₹12.88 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net profit of ₹1.22 Cr (net margin 9.5%) and EBITDA of ₹5.76 Cr (EBITDA margin 44.7%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years and 5% over five years.
The company has about 37 employees on its provident fund (EPFO) records.
As per MCA filings, the company has satisfied charges of ₹30 Cr on record. Court records list 64 cases involving the company, including 32 filed by the company and 29 filed against it; 6 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website merindmic.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressReadymoney Terrace 2nd Floor Room No. 5 167 Dr. Annie Besant Road Worli, Mumbai, Maharashtra, India – 400018
- IndustryFinancial Services, Real Estate Financing
- 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
- One PDF report, delivered after checkout
Business Activity of Merind Limited
The main business activity of Merind is real estate. In detail, this covers real estate activities on fee or contract basis.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| L | Real Estate | L2 | Real estate activities on fee or contract basis | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Merind Limited FY 2025 filings available
Merind Limited reported revenue of ₹12.88 Cr (down 12% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Merind Limited
Revenue fell 12% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 5%. EBITDA fell 51% 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 Merind Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹5.76 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹1.22 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 Merind Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 44.7% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 9.5% | •••• | •••• | •••• | •••• |
| 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 Merind are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Merind Limited
Merind Limited is compared with the companies closest to it by revenue in the BFSI industry (Real Estate Leasing). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Unique Pharmaceutical Laboratories Limited | ₹12.98 Cr (FY 2025) | •••• | •••• | 22.0% | •••• | Mumbai, Maharashtra, India |
| Swasti Vinayaka Art and Heritage Corporation Limited Listed | ₹12.95 Cr (FY 2024) | •••• | •••• | 0.0% | •••• | Mumbai, Maharashtra, India |
| Tix Ecosystems Private Limited | ₹12.93 Cr (FY 2025) | •••• | •••• | -10.0% | •••• | Vadodara, Gujarat, India |
| Gangadhar Infracon Private Limited | ₹12.9 Cr (FY 2024) | •••• | •••• | -29.0% | •••• | Siliguri, West Bengal, India |
| Indrason Hospitalities Private Limited | ₹12.89 Cr (FY 2025) | •••• | •••• | 15.0% | •••• | New Delhi, Delhi, India |
| Merind Limited this company | ₹12.88 Cr (FY 2025) | •••• | •••• | -12.0% | •••• | Mumbai, Maharashtra, India |
| Adwitya Shaswat Private Limited | ₹12.86 Cr (FY 2024) | •••• | •••• | 11.0% | •••• | Bangalore, Karnataka, India |
| Vag Exports Private Limited | ₹12.84 Cr (FY 2022) | •••• | •••• | 13.0% | •••• | Bangalore, Karnataka, India |
| Sicher Engineering India Private Limited | ₹12.79 Cr (FY 2025) | •••• | •••• | 367.0% | •••• | Kakarmajra, Haryana, India |
| Gufic Private Limited | ₹12.78 Cr (FY 2025) | •••• | •••• | -50.0% | •••• | Narsari, Gujarat, India |
| Afl Private Limited | ₹12.75 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Merind by revenue in the BFSI industry (Real Estate Leasing), 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 Merind Limited
Merind Limited is audited by J. L. Thakkar & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| J. L. Thakkar & Co. | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Merind Limited
Merind has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Stephen Sabbas Dsouza Also directs: Sharanya Chemicals and Pharmaceuticals Private Limited, Banneret Trading Private Limited, Wockhardt Holdings Limited and 2 more | Director | 21 Aug 2019 | 7 Years 1 Months | Current |
| Zahabiya Habil Khorakiwala | Director | 31 Mar 2010 | 16 Years 6 Months | Current |
| Huzaifa Habil Khorakiwala Also directs: Wockhardt Limited, Wockhardt Hospitals Limited, Amalthea Trading & Services LLP and 5 more | Director | 31 Mar 2010 | 16 Years 6 Months | Current |
Ownership and Shareholding of Merind Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Merind Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 09 Jul 2004 | Punjab National Bank | ₹30 Cr | Satisfied |
Total charge records: 1 View all charges
Legal Cases of Merind Limited
Merind Limited has 64 court cases on record: 32 filed by Merind, 29 filed against it, 3 where it is another party. 6 cases are pending and 58 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 46 | 18 | 6 |
| District courts | 17 | 10 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 64)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Company is another party | Pending |
| Bombay High Court | Tax appeal | Filed against the company by PR. Commissioner of Income Tax - 15 | Pending |
| Bombay High Court | Writ petition | Filed against the company by an individual | Pending |
| Bombay High Court | Writ petition | Filed by the company against Union of India and 2 Ors | Pending |
| Bombay High Court | Court case (NMW) | Filed by the company against Union of India | Pending |
Full case history
All 64 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Merind Limited
Merind Limited has 2 MSME Form 1 returns on record for the period ending Sep 2023, listing 2 overdue payments to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 2 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Merind Limited
Merind Limited has a workforce of 37 employees as of Apr 07, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Merind Limited
Merind Limited has 13 board changes on record since 2007: 3 appointments and 10 cessations. The latest: Deepak Rajkumar Madnani ceased to be Additional Director on 26 Sep 2019.
6 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Merind Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Merind Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Merind Limited
Merind has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM2735P3Z3 | Maharashtra | Active | 21 Mar 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Merind Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Merind Limited
Merind is an active public limited company based in Mumbai, Maharashtra, India. The company works in real estate financing, within the financial services industry. It was incorporated on 04 November 1958 (68+ years old) and is registered under CIN U24239MH1958PLC011204.
Merind reported revenue of ₹12.88 Cr for FY 2025 (down 12% YoY).
Merind has 3 current directors:
- Stephen Sabbas Dsouza - Director
- Zahabiya Habil Khorakiwala - Director
- Huzaifa Habil Khorakiwala - Director
Merind reported a net profit of ₹1.22 Cr (net margin 9.5%) and EBITDA of ₹5.76 Cr (EBITDA margin 44.7%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Merind is 4% over three years and 5% over five years. In the latest year (FY 2025) revenue fell 12%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Merind is 27AAACM2735P3Z3, registered in Maharashtra. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Merind is U24239MH1958PLC011204. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Merind has 64 court cases on record: 32 filed by the company and 29 filed against it. 6 are pending. Most are in the high courts.
Merind was incorporated on 04 November 1958, making it 68+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Merind by revenue are Unique Pharmaceutical Laboratories Limited, Swasti Vinayaka Art and Heritage Corporation Limited, Tix Ecosystems Private Limited, Gangadhar Infracon Private Limited, Indrason Hospitalities Private Limited and 5 more, all in the BFSI industry (Real Estate Leasing).
Deepak Rajkumar Madnani ceased to be Additional Director on 26 Sep 2019. Stephen Sabbas D'souza ceased to be Additional Director on 26 Sep 2019. Stephen Sabbas Dsouza was appointed as Director on 21 Aug 2019. Merind has 13 board changes on record in total.
Merind has 2 MSME Form 1 returns on record for the period ending Sep 2023, listing 2 overdue payments to 1 micro and small supplier. The latest return was filed on 18 Nov 2023.