MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-PB-14-0000249
Midas Agrofoods Limited - food and beverages in Baghapurana, Punjab, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹451.94 Cr
▲ 9% YoY
Net profit · FY 2025
₹11.02 Cr
Net margin 2.4%
EBITDA · FY 2025
₹26.14 Cr
EBITDA margin 5.8%
Authorised capital
₹22 Cr
Registered with MCA
Paid-up capital
₹21.67 Cr
Issued & subscribed
Open charges
₹176.1 Cr
Satisfied ₹48.01 Cr
Company age
12 yrs
Est. 2014
Employees · EPFO
10
Provident fund records
About Midas Agrofoods Limited
Data last updated:
Midas Agrofoods Limited is a public limited company based in Baghapurana, Punjab, India. It operates in the staple foods and grains segment of the food and beverages sector. It was incorporated on 10 June 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U15312PB2014PLC038656. Its GSTIN is 03AAGCR9325J1Z8 (Punjab). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹22 Cr and a paid-up capital of ₹21.67 Cr. It was formerly known as Rigel Foods Private Limited. It is led by directors including Lakhan Garg and Kewal Krishan.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mudki Road, Baghapurana, Punjab, India – 142038.
As per the financials filed for FY 2025, the company reported a revenue of ₹451.94 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹11.02 Cr (net margin 2.4%) and EBITDA of ₹26.14 Cr (EBITDA margin 5.8%). Revenue has grown at a compounded annual rate (CAGR) of 28% over three years and 19% over five years.
The company has about 10 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹176.1 Cr and satisfied charges of ₹48.01 Cr on record. Court records list 10 cases involving the company, including 7 filed by the company and 3 filed against it; 2 cases are pending. The company has 9 deals on record (6 secondary share transfers, 3 funding rounds), with disclosed funding of ₹18.99 Cr; the latest was in March 2021. Its 8 peer companies in the Food and Beverages industry (Staple Foods), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 4 larger and 4 smaller; the largest is Kesari Roller Flour Mills Private Limited with revenue of ₹466.52 Cr.
Midas Agrofoods Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-PB-14-0000249). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website midasagro.in.
Company details
CIN U15312PB2014PLC038656
Registration Number 038656
Incorporation Date 10 June 2014
ROC Chandigarh
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-PB-14-0000249
Name history
Midas Agrofoods has undergone 2 name changes throughout its history. The company was previously known as Rigel Foods Private Limited, and Midas Agrofoods Limited. The current legal name is Midas Agrofoods Limited.
| Company Name | Status |
|---|---|
| Midas Agrofoods Limited | Current |
| Rigel Foods Private Limited | Previous |
CIN history
Midas Agrofoods has one previous CIN (Corporate Identification Number): U15312PB2014PTC038656. The current CIN is U15312PB2014PLC038656, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U15312PB2014PLC038656 | Current |
| U15312PB2014PTC038656 | Previous |
Recognitions & Rankings of Midas Agrofoods
Contact details
Midas Agrofoods Limited's registered office is in Baghapurana, Punjab.
- Social Media
- Registered AddressMudki Road, Baghapurana, Punjab, India – 142038
- IndustryFood and Beverages, Staple Foods & Grains
Comprehensive company report
Midas Agrofoods 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 Midas Agrofoods is manufacturing. In detail, this covers food, beverages and tobacco products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products |
To see the full business activity and turnover split of Midas Agrofoods Limited, buy the company report.
Financials of Midas Agrofoods Limited
FY 2024 filings availableMidas Agrofoods Limited reported revenue of ₹451.94 Cr (up 9% YoY) for FY 2025.
Revenue · FY 2025
₹451.94 Cr ▲ 9%
Net profit · FY 2025
₹11.02 Cr margin 2.4%
EBITDA · FY 2025
₹26.14 Cr margin 5.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 9%
3 years · compounded
▲ 28%
5 years · compounded
▲ 19%
EBITDA CAGR growth
1 year
▲ 70%
3 years · compounded
▲ 67%
5 years · compounded
▲ 40%
Revenue has grown at a compounded annual rate (CAGR) of 19% over five years, including 9% growth in the latest year. EBITDA rose 70% 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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| Revenue from Operations | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹26.14 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.02 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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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 | 5.8% | ||||
| Net Profit Margin | 2.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
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| Net Profit Growth | |||||
To see the full financial statements and ratios of Midas Agrofoods Limited, buy the company report.
Board of directors of Midas Agrofoods Limited
Midas Agrofoods has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Lakhan Garg Also directs: Midas Green Energy Private Limited, Midas Ayurveda Private Limited | Director | 17 Jul 2020 | 6 Years 3 Months | Current |
| Kewal Krishan Also directs: Divya Colonizers & Builders Private Limited | Director | 18 Aug 2022 | 4 Years 2 Months | Current |
| Raghav Garg Also directs: Midas Green Energy Private Limited, Midas Ayurveda Private Limited | Director | 10 Jun 2014 | 12 Years 5 Months | Current |
Peer comparison
Midas Agrofoods Limited is compared with the 8 companies closest to it by revenue in the Food and Beverages industry (Staple Foods), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kesari Roller Flour Mills Private Limited | ₹466.52 Cr (FY 2025) | -1.0% | Malur, Karnataka, India | |||
| Flying Trade (India) Private Limited | ₹464.4 Cr (FY 2024) | 25.0% | Jalandhar, Punjab, India | |||
| Mayuresh Protenz Private Limited | ₹461.13 Cr (FY 2025) | 29.0% | Khopoli, Maharashtra, India | |||
| Wings Agriculture Private Limited | ₹455.43 Cr (FY 2025) | 28.0% | Kuvadava, Gujarat, India | |||
| Midas Agrofoods Limitedthis company | ₹451.94 Cr (FY 2025) | ₹11.02 Cr | 2.4% | 9.0% | Baghapurana, Punjab, India | |
| Ginni Agro Products Limited | ₹451.91 Cr (FY 2025) | 24.0% | Nagpur, Maharashtra, India | |||
| B.T.S.Roller Flour Mills Private Limited | ₹451.7 Cr (FY 2024) | 52.0% | Bangalore, Karnataka, India | |||
| Balgopal Food Products Private Limited | ₹446.66 Cr (FY 2025) | 7.0% | Bargarh, Odisha, India | |||
| P.B.I. (India) Private Limited | ₹434.45 Cr (FY 2024) | 15.0% | Bari Brahmana, Jammu and Kashmir, India |
To see the full peer comparison of Midas Agrofoods Limited, buy the company report.
Charges & borrowings
Open charges
₹176.1 Cr
Satisfied charges
₹48.01 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Mar 2024 | 100905046 | Sidbi | ₹1.93 Cr | Open | |
| 24 Feb 2024 | 100881342 | Others | ₹29.98 Cr | Open | |
| 24 Oct 2023 | 100826228 | Others | ₹66.07 Cr | Open | |
| 30 Aug 2016 | 100062154 | State Bank of India | ₹78.12 Cr | Open | |
| 09 Nov 2021 | 100498233 | State Bank of India | ₹4.12 Cr | Satisfied |
To see the full charge records of Midas Agrofoods Limited, buy the company report.
Total charge records: 9 View all charges
Deals & funding
Midas Agrofoods Limited has 9 deals on record (6 secondary share transfers, 3 funding rounds), with disclosed funding of ₹18.99 Cr; the latest was in March 2021.
Total deals
9
Secondary share transfers
6
Funding rounds
3
Disclosed funding
₹18.99 Cr
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 2 individuals |
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2018 | Funding round | ₹12 Lakh | Investors: an individual |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
To see the full deal history of Midas Agrofoods 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
Midas Agrofoods Limited has 10 court cases on record: 7 filed by Midas Agrofoods, 3 filed against it. 2 cases are pending and 8 are disposed.
Total cases
10
Filed by the company
7
Filed against the company
3
Pending
2
Disposed
8
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 7 | 2 | 2 |
| High courts | 3 | 1 | 0 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Moga, Punjab | Execution petition | Filed by the company against M K Traders Through Anil Kumar | Pending |
| District court, Moga, Punjab | Execution petition | Filed by the company against M/S Preet Trading | Pending |
| District court, Amritsar, Punjab | Civil miscellaneous application | Filed against the company by an individual | Disposed |
| District court, Moga, Punjab | Execution petition | Filed by the company against M/S J D Trading Company | Disposed |
| District court, Moga, Punjab | Execution petition | Filed by the company against M/S Rakesh and Brothers | Disposed |
To see the full case history of Midas Agrofoods 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
Midas Agrofoods Limited was last rated by Crisil on 15 Dec 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 15 Dec 2020 |
To see the full credit ratings and regulatory alerts of Midas Agrofoods Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Midas Agrofoods Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Midas Agrofoods has 3 GST registrations: 1 active and 2 cancelled or inactive.
Total GSTINs
3
Active
1
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AAGCR9325J1Z8 | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Midas Agrofoods Limited, buy the company report.
Recent activity
Midas Agrofoods Limited has 10 board changes on record since 2014: 3 appointments and 7 cessations. The latest: Kewal Krishan was appointed as Director on 18 Aug 2022.
Charges
A charge with Others of Rs. 66.07 Cr registered on 24 Oct 2023 with Charge ID 100826228 was modified on 13 Oct 2025.
Charges
A charge with State Bank Of India of Rs. 78.12 Cr registered on 30 Aug 2016 with Charge ID 100062154 was modified on 24 Sep 2025.
AGM
Midas Agrofoods Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge registered on 09 Nov 2021 via Charge ID 100498233 with State Bank Of India was fully satisfied on 05 Jul 2024.
Charges
A charge registered on 04 Sep 2020 via Charge ID 100378495 with State Bank Of India was fully satisfied on 05 Jul 2024.
Filing
Midas Agrofoods Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Chandigarh.
Charges
A charge with Sidbi amounted to Rs. 1.93 Cr with Charge ID 100905046 was registered on 26 Mar 2024.
Charges
A charge with Others amounted to Rs. 29.98 Cr with Charge ID 100881342 was registered on 24 Feb 2024.
Charges
A charge with Others amounted to Rs. 66.07 Cr with Charge ID 100826228 was registered on 24 Oct 2023.
Appointed
Kewal Krishan was appointed as Director.
Ceased
Kewal Krishan ceased to be Director.
Ceased
Satish Kumar ceased to be Director.
18 earlier events are in the company report.
Frequently asked questions
Midas Agrofoods is an active public limited company based in Baghapurana, Punjab, India. The company works in staple foods and grains, within the food and beverages industry. It was incorporated on 10 June 2014 (12+ years old) and is registered under CIN U15312PB2014PLC038656.
Midas Agrofoods has 3 current directors:
- Lakhan Garg - Director
- Kewal Krishan - Director
- Raghav Garg - Director
The latest financial statements of Midas Agrofoods on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Midas Agrofoods is 03AAGCR9325J1Z8, registered in Punjab. 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 Midas Agrofoods is U15312PB2014PLC038656. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Midas Agrofoods has 10 court cases on record: 7 filed by the company and 3 filed against it. 2 are pending. Most are in the district courts.
Midas Agrofoods was incorporated on 10 June 2014, making it 12+ years old. It is registered with the Registrar of Companies, Chandigarh.
Midas Agrofoods has 9 deals on record (6 secondary share transfers, 3 funding rounds), with disclosed funding of ₹18.99 Cr; the latest was in March 2021.
The peers of Midas Agrofoods by revenue are Kesari Roller Flour Mills Private Limited, Flying Trade (India) Private Limited, Mayuresh Protenz Private Limited, Wings Agriculture Private Limited, Ginni Agro Products Limited and 3 more, all in the Food and Beverages industry (Staple Foods), with the same principal business activity (food, beverages and tobacco products).
Kewal Krishan was appointed as Director on 18 Aug 2022. Kewal Krishan ceased to be Director on 04 Jul 2022. Satish Kumar ceased to be Director on 30 Jun 2022. Midas Agrofoods has 10 board changes on record in total.
Yes, Midas Agrofoods is registered as a medium enterprise under Udyam registration (number: UDYAM-PB-14-0000249).
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