MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2023-24)
- Udyam number
- UDYAM-KL-07-0003588
Midas Rubber Pvt Ltd - manufacturing in Kottayam, Kerala, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹150.34 Cr
▲ 7% YoY
Net loss · FY 2025
₹43.26 Lakh
Net margin -0.3%
EBITDA · FY 2025
₹1.82 Cr
EBITDA margin 1.2%
Authorised capital
₹75 Lakh
Registered with MCA
Paid-up capital
₹56 Lakh
Issued & subscribed
Open charges
₹3.16 Cr
Satisfied ₹3.49 Cr
Company age
76 yrs
Est. 1950
Employees · EPFO
153
Provident fund records
About Midas Rubber Pvt Ltd
Data last updated:
Midas Rubber Pvt Ltd is a private limited company based in Kottayam, Kerala, India. It operates in the rubber-based products segment of the manufacturing sector. It was incorporated on 28 March 1950 and has been in existence for over 76 years.
The company is registered with the Registrar of Companies (ROC), Ernakulam, under CIN U25191KL1951PTC000278. Its GSTIN is 32AABCM4141N1ZL (Kerala). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹75 Lakh and a paid-up capital of ₹56 Lakh. It was formerly known as Chandisons Ltd and Chandisons P Ltd. It is led by directors including Varkey Varughese and Malini Mathew Varughese.
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 Midas Marketing Building Varisserry Mariathuruthu P.O., Kottayam, Kerala, India – 686027.
As per the financials filed for FY 2025, the company reported a revenue of ₹150.34 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net loss of ₹43.26 Lakh (net margin -0.3%) and EBITDA of ₹1.82 Cr (EBITDA margin 1.2%). Revenue has grown at a compounded annual rate (CAGR) of 14% over three years and 8% over five years.
The company has about 153 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Midas. As per MCA filings, the company has open charges of ₹3.16 Cr and satisfied charges of ₹3.49 Cr on record. Court records list 16 cases involving the company, including 8 filed by the company and 8 filed against it; 3 cases are pending. The company has 4 deals on record (4 secondary share transfers); the latest was in July 2015. Its 8 peer companies in the Manufacturing industry (Rubber, Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 4 larger and 4 smaller; the largest is Prudential Rubber Pvt Ltd with revenue of ₹159.74 Cr. The company has 2 MSME Form 1 returns on record for the period ending Sep 2023, listing 8 overdue payments to 8 micro and small suppliers.
Midas Rubber Pvt Ltd is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KL-07-0003588). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website midastreads.com.
Company details
CIN U25191KL1951PTC000278
Registration Number 000278
Incorporation Date 28 March 1950
ROC Ernakulam
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-KL-07-0003588
Name history
Midas Rubber has undergone 2 name changes throughout its history. The company was previously known as Chandisons Ltd, and Chandisons P Ltd. The current legal name is Midas Rubber Pvt Ltd.
| Company Name | Status |
|---|---|
| Midas Rubber Pvt Ltd | Current |
| Chandisons Ltd | Previous |
| Chandisons P Ltd | Previous |
CIN history
Midas Rubber has one previous CIN (Corporate Identification Number): U25191KL1950PTC000278. The current CIN is U25191KL1951PTC000278, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U25191KL1951PTC000278 | Current |
| U25191KL1950PTC000278 | Previous |
Recognitions & Rankings of Midas Rubber
Contact details
Midas Rubber Pvt Ltd's registered office is in Kottayam, Kerala. Its website is midastreads.com. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressMidas Marketing Building Varisserry Mariathuruthu P.O., Kottayam, Kerala, India – 686027
- IndustryManufacturing, Rubber-Based Products
To see the full contact details of Midas Rubber Pvt Ltd, buy the company report.
Comprehensive company report
Midas Rubber Pvt Ltd - 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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Brands
Midas Rubber operates one associated brand: Midas. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Rubber parts and retreading materials are supplied by Midas. | midas.ind.in |
Business activity
The main business activity of Midas Rubber is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Midas Rubber Pvt Ltd, buy the company report.
Financials of Midas Rubber Pvt Ltd
FY 2024 filings availableMidas Rubber Pvt Ltd reported revenue of ₹150.34 Cr (up 7% YoY) for FY 2025.
Revenue · FY 2025
₹150.34 Cr ▲ 7%
Net loss · FY 2025
₹43.26 Lakh margin -0.3%
EBITDA · FY 2025
₹1.82 Cr margin 1.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 7%
3 years · compounded
▲ 14%
5 years · compounded
▲ 8%
EBITDA CAGR growth
1 year
▼ 61%
3 years · compounded
▲ 61%
5 years · compounded
▼ 9%
Revenue has grown at a compounded annual rate (CAGR) of 8% over five years, including 7% growth in the latest year. EBITDA fell 61% 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 | |||||
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| Cost of Materials Consumed | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.82 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹43.26 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
| Trade Receivables | |||||
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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 | 1.2% | ||||
| Net Profit Margin | -0.3% | ||||
| 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 | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Midas Rubber Pvt Ltd, buy the company report.
Board of directors of Midas Rubber Pvt Ltd
Midas Rubber has 3 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Varkey Varughese Also directs: Panampunna Estates Private Limited, Prudential Rubber Pvt Ltd, Midas Treads (India) Private Limited and 5 more | Director | 15 Oct 1999 | 27 Years 0 Months | Current |
| Malini Mathew Varughese Also directs: Midas Guardian Private Limited, Midas Bonding Products Private Limited, Standard Treads Pvt Ltd and 1 more | Director | 28 Aug 2025 | 1 Years 1 Months | Current |
| Paulose Verghese Also directs: Panampunna Estates Private Limited, Midas Pre Cured Treads Pvt Ltd, Prudential Rubber Pvt Ltd and 5 more | Director | 04 Jan 2013 | 13 Years 9 Months | Current |
Peer comparison
Midas Rubber Pvt Ltd is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Rubber, Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Prudential Rubber Pvt Ltd | ₹159.74 Cr (FY 2025) | 15.0% | Kottayam, Kerala, India | |||
| Dashmesh Rubber Industries Private Limited | ₹154.86 Cr (FY 2025) | 22.0% | Sarigam, Gujarat, India | |||
| Aryan Exporters Private Limited | ₹152.91 Cr (FY 2025) | -17.0% | Lucknow, Uttar Pradesh, India | |||
| Andhra Polymers Pvt Ltd | ₹151.43 Cr (FY 2024) | 25.0% | Hyderabad, Telangana, India | |||
| Midas Rubber Pvt Ltdthis company | ₹150.34 Cr (FY 2025) | -₹43.26 Lakh | -0.3% | 7.0% | 153 | Kottayam, Kerala, India |
| TRP Sealing Systems (India) Private Limited | ₹147.74 Cr (FY 2025) | 47.0% | Pune, Maharashtra, India | |||
| Ten On Ten Rubtech Private Limited | ₹147.51 Cr (FY 2025) | 16.0% | Gurgaon, Haryana, India | |||
| Eureka Conveyor Beltings Limited | ₹144.41 Cr (FY 2025) | 2.0% | Kota, Rajasthan, India | |||
| K-Flex India Private Limited | ₹143.08 Cr (FY 2024) | 11.0% | Pune, Maharashtra, India |
To see the full peer comparison of Midas Rubber Pvt Ltd, buy the company report.
Auditor
Midas Rubber Pvt Ltd is audited by CHERIYAN AND CHERIAN ,CHARTERED ACCOUNTANTS for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CHERIYAN AND CHERIAN ,CHARTERED ACCOUNTANTS | FY 2023 | 00624S |
Shareholding
The shareholding of Midas Rubber Pvt Ltd is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Midas Rubber Pvt Ltd, buy the company report.
Charges & borrowings
Open charges
₹3.16 Cr
Satisfied charges
₹3.49 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Jul 2024 | 100961631 | State Bank of India | ₹90 Lakh | Open | |
| 29 Jul 2024 | 100961686 | State Bank of India | ₹90 Lakh | Open | |
| 29 Jul 2024 | 100961725 | State Bank of India | ₹90 Lakh | Open | |
| 25 Aug 2016 | 100055579 | State Bank of Travancore | ₹1.13 Lakh | Open | |
| 23 Mar 2016 | 100016984 | State Bank of Travancore | ₹10.75 Lakh | Open |
To see the full charge records of Midas Rubber Pvt Ltd, buy the company report.
Total charge records: 14 View all charges
Deals & funding
Midas Rubber Pvt Ltd has 4 deals on record (4 secondary share transfers); the latest was in July 2015.
Total deals
4
Secondary share transfers
4
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2015 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jan 2013 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: an individual |
| Dec 2012 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Midas Rubber Pvt Ltd has 16 court cases on record: 8 filed by Midas Rubber, 8 filed against it. 3 cases are pending and 13 are disposed.
Total cases
16
Filed by the company
8
Filed against the company
8
Pending
3
Disposed
13
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 14 | 8 | 2 |
| District courts | 2 | 0 | 1 |
Cases on record (5 of 16)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (AR) | Filed by the company against Stanes Tyre & Rubber Products Ltd | Disposed |
| High Court | Court case (OP(C)) | Filed by the company against an individual | Pending |
| High Court | Writ petition | Filed by the company against State of Kerala and 4 others | Pending |
| District court, Kottayam, Kerala | Civil suit | Filed by the company against an individual | Pending |
| High Court of Kerala | Appeal | Filed against the company by The State of Kerala Represented by Secretary to Government | Disposed |
To see the full case history of Midas Rubber Pvt Ltd, 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.
MSME payment delays
Midas Rubber Pvt Ltd has 2 MSME Form 1 returns on record for the period ending Sep 2023, listing 8 overdue payments to 8 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 8)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Rajesh Metals | |||
| Minerva Combines | |||
| Premier Techno Trades Private Limited | |||
| Peopleserve Outsourcing Private Limited | |||
| Anchor Treads Pvt Ltd |
To see the full MSME payment records of Midas Rubber Pvt Ltd, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Midas Rubber Pvt Ltd has a workforce of 153 employees on its EPFO records as of Sep 22, 2025, across 1 active EPFO establishment.
Employee count
153
Active EPFO establishments
1
Employee growth
-0.65%
GST
Midas Rubber has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 32AABCM4141N1ZL | Kerala | Active | 01 Jul 2017 |
| 32AABCM4141N2ZK | Kerala | Active | 01 Apr 2025 |
| 33AABCM4141N1ZJ | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Midas Rubber Pvt Ltd, buy the company report.
Recent activity
Midas Rubber Pvt Ltd has 5 board changes on record since 1999: 3 appointments and 2 cessations. The latest: George Varughese ceased to be Director on 28 Aug 2025.
Ceased
George Varughese ceased to be Director.
Appointed
Malini Mathew Varughese was appointed as Director.
AGM
Midas Rubber Pvt Ltd last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge with State Bank Of India amounted to Rs. 90.00 Lakh with Charge ID 100961631 was registered on 29 Jul 2024.
Charges
A charge with State Bank Of India amounted to Rs. 90.00 Lakh with Charge ID 100961686 was registered on 29 Jul 2024.
Charges
A charge with State Bank Of India amounted to Rs. 90.00 Lakh with Charge ID 100961725 was registered on 29 Jul 2024.
Filing
Midas Rubber Pvt Ltd has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ernakulam.
Charges
A charge registered on 04 Mar 1989 via Charge ID 90021814 with State Bank Of India was fully satisfied on 07 Jan 2022.
Charges
A charge registered on 28 Jan 2015 via Charge ID 10554748 with State Bank Of Travancore was fully satisfied on 10 Aug 2021.
Charges
A charge registered on 28 Jan 2015 via Charge ID 10554796 with State Bank Of Travancore was fully satisfied on 10 Aug 2021.
Charges
A charge registered on 28 Jan 2015 via Charge ID 10554940 with State Bank Of Travancore was fully satisfied on 10 Aug 2021.
Charges
A charge registered on 22 Mar 2002 via Charge ID 90022753 with Mustang Rubbers was fully satisfied on 10 Aug 2021.
17 earlier events are in the company report.
Frequently asked questions
Midas Rubber is an active private limited company based in Kottayam, Kerala, India. The company works in rubber-based products, within the manufacturing industry. It was incorporated on 28 March 1950 (76+ years old) and is registered under CIN U25191KL1951PTC000278.
Midas Rubber has 3 current directors:
- Varkey Varughese - Director
- Malini Mathew Varughese - Director
- Paulose Verghese - Director
The latest financial statements of Midas Rubber 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 Rubber is 32AABCM4141N1ZL, registered in Kerala. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 32AABCM4141N2ZK (Kerala), 33AABCM4141N1ZJ (Tamil Nadu).
The CIN (Corporate Identification Number) of Midas Rubber is U25191KL1951PTC000278. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Midas Rubber has 16 court cases on record: 8 filed by the company and 8 filed against it. 3 are pending. Most are in the high courts.
Midas Rubber was incorporated on 28 March 1950, making it 76+ years old. It is registered with the Registrar of Companies, Ernakulam.
Midas Rubber has 4 deals on record (4 secondary share transfers); the latest was in July 2015.
The peers of Midas Rubber by revenue are Prudential Rubber Pvt Ltd, Dashmesh Rubber Industries Private Limited, Aryan Exporters Private Limited, Andhra Polymers Pvt Ltd, TRP Sealing Systems (India) Private Limited and 3 more, all in the Manufacturing industry (Rubber, Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
George Varughese ceased to be Director on 28 Aug 2025. Malini Mathew Varughese was appointed as Director on 28 Aug 2025. Mariam Varughese ceased to be Director on 04 Jan 2013. Midas Rubber has 5 board changes on record in total.
Yes, Midas Rubber is registered as a medium enterprise under Udyam registration (number: UDYAM-KL-07-0003588).
Midas Rubber has 2 MSME Form 1 returns on record for the period ending Sep 2023, listing 8 overdue payments to 8 micro and small suppliers. The latest return was filed on 12 Dec 2023.