MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-18-0012818
Merlin Pharma Private Limited - pharma in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹16.74 Cr
▲ 24% YoY
Net profit · FY 2024
₹35.57 Lakh
Net margin 2.1%
EBITDA · FY 2024
₹56.84 Lakh
EBITDA margin 3.4%
Authorised capital
₹5 Cr
Registered with MCA
Paid-up capital
₹1.31 Cr
Issued & subscribed
Open charges
₹15.98 Cr
Satisfied ₹65.25 Lakh
Company age
38 yrs
Est. 1988
Employees · EPFO
7
Provident fund records
About Merlin Pharma Private Limited
Data last updated:
Merlin Pharma Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 11 August 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24230MH1988PTC048460. Its GSTIN is 27AAACM5135H1ZM (Maharashtra).
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹1.31 Cr. It is led by directors Sureshchand Madholal Mangal and Anoop Sureshchand Mangal.
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 402 Kalpataru Plaza Chincholi Bunder Rd Malad (W), Mumbai, Maharashtra, India – 400064.
As per the financials filed for FY 2024, the company reported a revenue of ₹16.74 Cr, a growth of 24% compared to the previous year. For the same year it recorded a net profit of ₹35.57 Lakh (net margin 2.1%) and EBITDA of ₹56.84 Lakh (EBITDA margin 3.4%). Revenue has grown at a compounded annual rate (CAGR) of 13% over three years and 9% over five years.
The company has about 7 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹15.98 Cr and satisfied charges of ₹65.25 Lakh on record. Court records list 5 cases involving the company, including 1 filed by the company and 4 filed against it.
Merlin Pharma Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0012818). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website merlinpharma.com.
Company Details of Merlin Pharma Private Limited
CIN U24230MH1988PTC048460
Registration Number 048460
Incorporation Date 11 August 1988
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-18-0012818
Recognitions & Rankings of Merlin Pharma
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address402 Kalpataru Plaza Chincholi Bunder Rd Malad (W), Mumbai, Maharashtra, India – 400064
- IndustryPharma, Drug Formulation & Development
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Business Activity of Merlin Pharma Private Limited
The main business activity of Merlin Pharma is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
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Financials of Merlin Pharma Private Limited FY 2025 filings available
Merlin Pharma Private Limited reported revenue of ₹16.74 Cr (up 24% YoY) for FY 2024.
Revenue · FY 2024
₹16.74 Cr ▲ 24%
Net profit · FY 2024
₹35.57 Lakh margin 2.1%
EBITDA · FY 2024
₹56.84 Lakh margin 3.4%
Compounded Annual Growth Rate (CAGR) of Merlin Pharma Private Limited
Revenue CAGR growth
1 year
▲ 24%
3 years · compounded
▲ 13%
5 years · compounded
▲ 9%
EBITDA CAGR growth
1 year
▲ 26%
3 years · compounded
▲ 4%
5 years · compounded
▲ 4%
Revenue has grown at a compounded annual rate (CAGR) of 9% over five years, including 24% growth in the latest year. EBITDA rose 26% 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 Merlin Pharma Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹16.74 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹56.84 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹35.57 Lakh | •••• | •••• | •••• | •••• |
| 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 Merlin Pharma Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 2.1% | •••• | •••• | •••• | •••• |
| 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 Merlin Pharma are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
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Board of Directors of Merlin Pharma Private Limited
Merlin Pharma has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sureshchand Madholal Mangal | Director | 11 Aug 1988 | 38 Years 2 Months | Current |
| Anoop Sureshchand Mangal | Director | 20 Oct 2008 | 18 Years 0 Months | Current |
Peer Comparison of Merlin Pharma Private Limited
Merlin Pharma Private Limited is compared with the companies closest to it by revenue in the Pharma industry (Formulations). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Anra Pharmaceuticals Private Limited | ₹16.84 Cr (FY 2025) | •••• | •••• | 74.0% | •••• | Vellaripatti, Tamil Nadu, India |
| MVL Medisynth Private Limited | ₹16.78 Cr (FY 2024) | •••• | •••• | 1.0% | •••• | Solapur North, Maharashtra, India |
| Apple Therapeutics Private Limited | ₹16.77 Cr (FY 2024) | •••• | •••• | 19.0% | •••• | Delhi, India |
| Leiutis Pharmaceuticals Private Limited | ₹16.75 Cr (FY 2020) | •••• | •••• | 62.0% | •••• | Hyderabad, Telangana, India |
| Salius Pharma Private Limited | ₹16.74 Cr (FY 2025) | •••• | •••• | 17.0% | •••• | Thane, Maharashtra, India |
| Merlin Pharma Private Limited this company | ₹16.74 Cr (FY 2024) | •••• | •••• | 24.0% | •••• | Mumbai, Maharashtra, India |
| Surien Pharmaceuticals Private Limited | ₹16.68 Cr (FY 2025) | •••• | •••• | -18.0% | •••• | Chennai, Tamil Nadu, India |
| Oasis Laboratories Pvt Ltd | ₹16.68 Cr (FY 2025) | •••• | •••• | -1.0% | •••• | Jaipur, Rajasthan, India |
| Thy One Life Sciences Private Limited | ₹16.67 Cr (FY 2024) | •••• | •••• | 53.0% | •••• | Jalandhar, Punjab, India |
| Mac Medilife Private Limited | ₹16.64 Cr (FY 2025) | •••• | •••• | 112.0% | •••• | Mumbai, Maharashtra, India |
| Regal Healthcare Limited | ₹16.64 Cr (FY 2025) | •••• | •••• | -15.0% | •••• | Vadodara, Gujarat, India |
Peers are the five companies nearest above and the five nearest below Merlin Pharma by revenue in the Pharma industry (Formulations), 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 Merlin Pharma Private Limited
Merlin Pharma Private Limited is audited by PRAKASH GUPTA AND CO. for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| PRAKASH GUPTA AND CO. | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Merlin Pharma Private Limited
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Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Merlin Pharma Private Limited
Open charges
₹15.98 Cr
Satisfied charges
₹65.25 Lakh
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 15 Mar 2024 | Others | ₹97.5 Lakh | Open |
| 11 Mar 2024 | Others | ₹15 Cr | Open |
| 30 Aug 1989 | Central Bank of India | ₹6.75 Lakh | Satisfied |
| 27 Apr 1989 | Central Bank of India | ₹58.5 Lakh | Satisfied |
Total charge records: 4 View all charges
Legal Cases of Merlin Pharma Private Limited
Merlin Pharma Private Limited has 5 court cases on record: 1 filed by Merlin Pharma, 4 filed against it. All cases are disposed. Status as checked between 01 Oct 2026 and 04 Oct 2026.
Total cases
5
Filed by the company
1
Filed against the company
4
Disposed
5
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 3 | 0 |
| High courts | 2 | 1 | 0 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed against the company by State at the Assistance Drugs Contoller Bagalkot Tejaswi.C Office of the Asst Drugs Controller | Disposed |
| Bombay High Court | Writ petition | Filed by the company against State of Maharashtra and 2 Ors | Disposed |
| District court, MYSURU, Karnataka | Criminal complaint | Filed against the company by State at the Instance of Drugs Inspector | Disposed |
| Bombay High Court | Court case (S) | Filed against the company by Kalpadrum Enterprises | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by Kalpadrum Enterprises | Disposed |
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Full case history
All 5 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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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.
Employees and EPFO Compliance at Merlin Pharma Private Limited
Merlin Pharma Private Limited has a workforce of 7 employees as of Feb 28, 2025.
Employee count
7
Active EPFO establishments
1
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
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Recent Activity on Merlin Pharma Private Limited
Merlin Pharma Private Limited has 5 board changes on record since 1988: 2 appointments and 3 cessations. The latest: Mukesh Chhitarmal Agarwal ceased to be Director on 30 May 2010.
Charges
A charge with Others of Rs. 15.00 Cr registered on 11 Mar 2024 with Charge ID 100895746 was modified on 22 Jan 2026.
AGM
Merlin Pharma Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Merlin Pharma Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge with Others amounted to Rs. 0.98 Cr with Charge ID 100895754 was registered on 15 Mar 2024.
Charges
A charge with Others amounted to Rs. 15.00 Cr with Charge ID 100895746 was registered on 11 Mar 2024.
Charges
A charge registered on 30 Aug 1989 via Charge ID 90221646 with Central Bank Of India was fully satisfied on 10 Nov 2023.
Charges
A charge registered on 27 Apr 1989 via Charge ID 90221602 with Central Bank Of India was fully satisfied on 10 Nov 2023.
Ceased
Mukesh Chhitarmal Agarwal ceased to be Director.
Ceased
Aashish Suresh Mangal ceased to be Whole-Time Director.
Appointed
Anoop Sureshchand Mangal was appointed as Director.
Ceased
Anoop Sureshchand Mangal ceased to be Director.
Charges
A charge with Central Bank Of India of Rs. 0.59 Cr registered on 27 Apr 1989 with Charge ID 90221602 was modified on 27 Nov 2006.
4 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Merlin Pharma Private Limited
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Credit ratings, litigation, and regulatory alerts
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MSME Payment Delays by Merlin Pharma Private Limited
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Subsidiaries & Group Companies of Merlin Pharma Private Limited
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GST Compliance of Merlin Pharma Private Limited
Merlin Pharma has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM5135H1ZM | Maharashtra | Active | 01 Jul 2017 |
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GST registrations and filing compliance
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MCA Filings & Documents of Merlin Pharma Private Limited
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Frequently Asked Questions about Merlin Pharma Private Limited
Merlin Pharma is an active private limited company based in Mumbai, Maharashtra, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 11 August 1988 (38+ years old) and is registered under CIN U24230MH1988PTC048460.
Merlin Pharma reported revenue of ₹16.74 Cr for FY 2024 (up 24% YoY).
Merlin Pharma has 2 current directors:
- Sureshchand Madholal Mangal - Director
- Anoop Sureshchand Mangal - Director
Merlin Pharma reported a net profit of ₹35.57 Lakh (net margin 2.1%) and EBITDA of ₹56.84 Lakh (EBITDA margin 3.4%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Merlin Pharma is 13% over three years and 9% over five years. In the latest year (FY 2024) revenue rose 24%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Merlin Pharma is 27AAACM5135H1ZM, registered in Maharashtra.
The CIN (Corporate Identification Number) of Merlin Pharma is U24230MH1988PTC048460. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Merlin Pharma has 5 court cases on record: 1 filed by the company and 4 filed against it. Most are in the district courts.
Merlin Pharma was incorporated on 11 August 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Merlin Pharma by revenue are Anra Pharmaceuticals Private Limited, MVL Medisynth Private Limited, Apple Therapeutics Private Limited, Leiutis Pharmaceuticals Private Limited, Salius Pharma Private Limited and 5 more, all in the Pharma industry (Formulations).
Mukesh Chhitarmal Agarwal ceased to be Director on 30 May 2010. Aashish Suresh Mangal ceased to be Whole-Time Director on 30 Mar 2009. Anoop Sureshchand Mangal was appointed as Director on 20 Oct 2008. Merlin Pharma has 5 board changes on record in total.