About Minal Industries Limited
Data last updated:
Minal Industries Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the metal foundry and fabrication services segment of the engineering sector. It was incorporated on 11 January 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L32201MH1988PLC216905. Its GSTIN is 27AABCM3102D1Z6 (Maharashtra). The company holds 3 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 522235 and NSE: MINALIND.
The company has an authorised share capital of ₹63 Cr and a paid-up capital of ₹38.38 Cr. It is led by directors including Shrikant Jesinglal Parikh (Managing Director) and Disha Hiteshkumar Rathod.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 603 – L Minal Co – Op Hsg So Ltd Off Sakivihar Road Andheri – East, Mumbai, Maharashtra, India – 400072.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹42.83 Cr, a decline of 16.2% compared to the previous year. For the same year it recorded a net profit of ₹68 Lakh (net margin 1.6%) and EBITDA of -₹73 Lakh (EBITDA margin -1.7%). The net worth stands at ₹53.2 Cr (down 0.1% YoY). Total assets are valued at ₹71.01 Cr (down 1.7% YoY).
The company is associated with 1 brand: Minal Industries. As per MCA filings, the company has open charges of ₹15.9 Lakh on record. Court records list 2 cases involving the company, including 2 filed by the company. The company has 19 deals on record (19 market trades); the latest was in July 2010. The company has 3 MSME Form 1 returns on record between 2023 and 2024, listing 7 overdue payments to 1 micro and small supplier.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website minalindustriesltd.com.
Company details
CIN history
Minal Industries has one previous CIN (Corporate Identification Number): L32201GJ1988PLC010259. The current CIN is L32201MH1988PLC216905, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L32201MH1988PLC216905 | Current |
| L32201GJ1988PLC010259 | Previous |
Contact details
Minal Industries Limited's registered office is in Mumbai, Maharashtra. Its website is minalindustriesltd.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address603 – L Minal Co – Op Hsg So Ltd Off Sakivihar Road Andheri – East, Mumbai, Maharashtra, India – 400072
- IndustryEngineering, Metal Foundry & Fabrication Services
To see the full contact details of Minal Industries Limited, buy the company report.
- 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
Brands
Minal Industries operates one associated brand: Minal Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Industrial operations are managed by Minal Industries since 1988. | minalindustriesltd.com |
Business activity
The main business activity of Minal Industries is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Minal Industries Limited, buy the company report.
Financials of Minal Industries Limited
FY 2025-26 filings availableMinal Industries Limited reported revenue of ₹42.83 Cr (down 16.2% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 42.83 | 51.12 | 37.85 | 26.80 | 28.24 | 14.00 | 38.49 |
| Revenue growth | -16.2% | +35.1% | +41.2% | -5.1% | +101.7% | -63.6% | - |
| EBITDA | (0.73) | 3.87 | (3.28) | (0.24) | (0.15) | (5.42) | (9.46) |
| EBITDA margin | -1.7% | +7.6% | -8.7% | -0.9% | -0.5% | -38.7% | -24.6% |
| Profit before tax | 0.95 | 4.19 | (1.68) | (0.28) | 1.01 | (5.16) | (7.45) |
| Net profit | 0.68 | 1.52 | 1.66 | 0.33 | 0.42 | (2.10) | (7.08) |
| Net profit margin | +1.6% | +3.0% | +4.4% | +1.2% | +1.5% | -15.0% | -18.4% |
| EPS (₹) | 0.03 | 0.08 | (0.15) | 0.02 | 0.02 | (0.11) | (0.27) |
| Balance sheet | |||||||
| Total assets | 71.01 | 72.21 | 74.54 | 73.90 | 70.63 | 80.42 | 85.60 |
| Net worth | 53.20 | 53.24 | 53.43 | 54.77 | 53.65 | 53.06 | 55.22 |
| Total debt | 6.32 | 8.24 | 13.24 | 11.82 | 9.12 | 18.97 | 19.01 |
| Cash & bank | 6.35 | 0.84 | 0.27 | 0.46 | 0.64 | 1.43 | 1.90 |
| Net working capital | 64.67 | 65.75 | 67.68 | 65.51 | 62.30 | 67.40 | 79.58 |
| Cash flow | |||||||
| Cash from operations | 7.42 | 4.03 | (1.05) | (2.45) | (17.47) | 4.90 | (3.30) |
| Cash from investing | (1.49) | 0.11 | 0.71 | 1.30 | 27.99 | (3.82) | 0.35 |
| Cash from financing | (1.97) | (3.58) | 0.15 | 1.00 | (11.31) | (0.11) | (2.13) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.11 | 15.18 | 8.71 | 8.90 | 10.04 | 19.16 | 8.87 | 10.77 |
| Revenue growth (YoY) | +30.6% | -20.8% | -1.8% | -17.4% | -18.4% | - | - | - |
| Other income | 0.39 | 1.19 | 0.34 | 0.58 | 0.18 | (0.22) | 0.87 | 0.23 |
| EBITDA | 2.04 | 0.88 | (1.18) | (1.18) | 0.74 | 3.93 | (0.96) | 0.20 |
| EBITDA margin | +15.6% | +5.8% | -13.5% | -13.3% | +7.4% | +20.5% | -10.8% | +1.9% |
| Depreciation | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.13 | 0.14 | 0.14 |
| Interest | 0.02 | 0.01 | 0.02 | (0.01) | 0.02 | 0.07 | 0.04 | 0.03 |
| Profit before tax | 2.27 | 1.92 | (1.00) | (0.73) | 0.76 | 3.51 | (0.27) | 0.26 |
| Tax | (0.10) | 0.30 | 0.00 | (0.02) | 0.08 | (0.02) | (0.25) | (0.03) |
| Net profit | 2.37 | 1.62 | (1.00) | (0.71) | 0.68 | 3.53 | (0.02) | 0.29 |
| EPS (₹) | 0.12 | 0.08 | (0.05) | (0.04) | 0.04 | 0.18 | 0.00 | 0.02 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 7.26 | 0.78 | 1.05 | 4.30 | 0.73 | 0.00 | 0.00 |
| Revenue growth | +830.8% | -25.7% | -75.6% | +489.0% | - | - | - |
| EBITDA | (0.68) | (1.26) | (4.09) | 0.48 | (0.16) | (18.63) | (6.80) |
| EBITDA margin | -9.4% | -161.5% | -389.5% | +11.2% | -21.9% | - | - |
| Profit before tax | (0.27) | (1.11) | (3.49) | 0.99 | 0.37 | (17.24) | (2.62) |
| Net profit | (0.70) | (1.11) | 0.65 | 1.01 | 0.36 | (17.24) | (4.61) |
| Net profit margin | -9.6% | -142.3% | +61.9% | +23.5% | +49.3% | - | - |
| EPS (₹) | (0.04) | (0.06) | (0.18) | 0.05 | 0.02 | (0.90) | (0.14) |
| Balance sheet | |||||||
| Total assets | 37.08 | 37.77 | 39.06 | 42.38 | 41.38 | 41.01 | 58.25 |
| Net worth | 37.07 | 37.77 | 38.88 | 42.34 | 41.35 | 40.99 | 58.23 |
| Total debt | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 5.80 | 0.07 | 0.04 | 0.26 | 0.07 | 0.03 | 0.03 |
| Net working capital | 27.60 | 28.52 | 29.47 | 31.63 | 28.19 | 26.90 | 43.93 |
| Cash flow | |||||||
| Cash from operations | 5.78 | (0.33) | (1.47) | (2.41) | (0.21) | 5.86 | (0.13) |
| Cash from investing | (1.61) | 0.56 | 1.09 | 2.62 | 0.24 | (5.85) | 0.47 |
| Cash from financing | 0.00 | (0.20) | 0.17 | 0.00 | 0.00 | 0.00 | (0.35) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.19 | 0.23 | 0.33 | 1.04 | 5.66 | 0.00 | 0.02 | 0.00 |
| Revenue growth (YoY) | -96.6% | - | +1550.0% | - | +654.7% | - | - | - |
| Other income | 0.19 | 0.19 | 0.10 | 0.08 | 0.08 | 0.05 | 0.08 | 0.03 |
| Total expenses | 0.71 | 0.77 | 0.59 | 1.22 | 5.36 | 0.57 | 0.29 | 0.86 |
| EBITDA | (0.52) | (0.54) | (0.26) | (0.18) | 0.30 | (0.57) | (0.27) | (0.86) |
| EBITDA margin | -273.7% | -234.8% | -78.8% | -17.3% | +5.3% | - | -1350.0% | - |
| Depreciation | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
| Profit before tax | (0.35) | (0.36) | (0.17) | (0.11) | 0.37 | (0.53) | (0.21) | (0.85) |
| Tax | (0.02) | 0.43 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.12) |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.11 | 15.18 | 8.71 | 8.90 | 10.04 | 19.16 | 8.87 | 10.77 |
| Revenue growth (YoY) | +30.6% | -20.8% | -1.8% | -17.4% | -18.4% | - | - | - |
| Other income | 0.39 | 1.19 | 0.34 | 0.58 | 0.18 | (0.22) | 0.87 | 0.23 |
| EBITDA | 2.04 | 0.88 | (1.18) | (1.18) | 0.74 | 3.93 | (0.96) | 0.20 |
| EBITDA margin | +15.6% | +5.8% | -13.5% | -13.3% | +7.4% | +20.5% | -10.8% | +1.9% |
| Depreciation | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.13 | 0.14 | 0.14 |
| Interest | 0.02 | 0.01 | 0.02 | (0.01) | 0.02 | 0.07 | 0.04 | 0.03 |
| Profit before tax | 2.27 | 1.92 | (1.00) | (0.73) | 0.76 | 3.51 | (0.27) | 0.26 |
| Tax | (0.10) | 0.30 | 0.00 | (0.02) | 0.08 | (0.02) | (0.25) | (0.03) |
| Net profit | 2.37 | 1.62 | (1.00) | (0.71) | 0.68 | 3.53 | (0.02) | 0.29 |
| EPS (₹) | 0.12 | 0.08 | (0.05) | (0.04) | 0.04 | 0.18 | 0.00 | 0.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 42.83 | 51.12 | 37.85 | 26.80 | 28.24 | 14.00 | 38.49 |
| Revenue growth | -16.2% | +35.1% | +41.2% | -5.1% | +101.7% | -63.6% | - |
| Other income | 2.29 | 1.04 | 2.33 | 2.34 | 2.30 | 1.28 | 3.25 |
| Total expenses | 43.56 | 47.25 | 41.13 | 27.04 | 28.39 | 19.42 | 47.95 |
| Employee cost | 0.00 | 3.70 | 3.87 | 2.13 | 2.15 | 1.29 | 1.92 |
| EBITDA | (0.73) | 3.87 | (3.28) | (0.24) | (0.15) | (5.42) | (9.46) |
| EBITDA margin | -1.7% | +7.6% | -8.7% | -0.9% | -0.5% | -38.7% | -24.6% |
| Depreciation | 0.56 | 0.55 | 0.53 | 0.68 | 0.73 | 0.75 | 0.78 |
| Interest | 0.05 | 0.17 | 0.20 | 1.70 | 0.41 | 0.27 | 0.46 |
| Profit before tax | 0.95 | 4.19 | (1.68) | (0.28) | 1.01 | (5.16) | (7.45) |
| Tax | 0.37 | (0.03) | 0.39 | 0.02 | 0.33 | (0.37) | (0.04) |
| Net profit | 0.68 | 1.52 | 1.66 | 0.33 | 0.42 | (2.10) | (7.08) |
| Net profit margin | +1.6% | +3.0% | +4.4% | +1.2% | +1.5% | -15.0% | -18.4% |
| EPS (₹) | 0.03 | 0.08 | (0.15) | 0.02 | 0.02 | (0.11) | (0.27) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 |
| Reserves & surplus | 14.82 | 14.86 | 15.05 | 16.39 | 15.27 | 14.68 | 16.84 |
| Shareholders' funds (net worth) | 53.20 | 53.24 | 53.43 | 54.77 | 53.65 | 53.06 | 55.22 |
| Minority interest | 10.95 | 10.18 | 7.52 | 6.65 | 7.36 | 7.04 | 9.62 |
| Secured loans | 0.00 | 0.00 | 0.17 | 0.00 | 8.11 | 0.00 | 0.00 |
| Unsecured loans | 6.32 | 8.24 | 13.07 | 11.82 | 1.01 | 18.97 | 19.01 |
| Total debt | 6.32 | 8.24 | 13.24 | 11.82 | 9.12 | 18.97 | 19.01 |
| Total liabilities | 71.01 | 72.21 | 74.54 | 73.90 | 70.63 | 80.42 | 85.60 |
| Assets | |||||||
| Gross block | 20.31 | 20.58 | 20.12 | 19.93 | 18.55 | 19.39 | 19.37 |
| Net block | 3.62 | 3.77 | 3.86 | 4.20 | 4.48 | 5.02 | 5.75 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 56.63 | 51.38 | 65.46 | 62.43 | 49.16 | 60.31 | 64.48 |
| Sundry debtors | 16.73 | 24.03 | 14.56 | 9.23 | 12.26 | 6.03 | 13.66 |
| Cash & bank balances | 6.35 | 0.84 | 0.27 | 0.46 | 0.64 | 1.43 | 1.90 |
| Loans & advances | 1.48 | 2.27 | 3.84 | 3.72 | 2.19 | 2.54 | 2.80 |
| Total current assets | 81.19 | 78.52 | 84.13 | 75.84 | 64.25 | 70.31 | 82.84 |
| Total current liabilities | 16.52 | 12.77 | 16.45 | 10.33 | 1.95 | 2.91 | 3.26 |
| Net working capital | 64.67 | 65.75 | 67.68 | 65.51 | 62.30 | 67.40 | 79.58 |
| Total assets | 71.01 | 72.21 | 74.54 | 73.90 | 70.63 | 80.42 | 85.60 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.84 | 0.27 | 0.46 | 0.61 | 1.41 | 0.44 | 5.52 |
| Net cash from operating activities | 7.42 | 4.03 | (1.05) | (2.45) | (17.47) | 4.90 | (3.30) |
| Net cash from investing activities | (1.49) | 0.11 | 0.71 | 1.30 | 27.99 | (3.82) | 0.35 |
| Net cash from financing activities | (1.97) | (3.58) | 0.15 | 1.00 | (11.31) | (0.11) | (2.13) |
| Net change in cash | 3.96 | 0.56 | (0.19) | (0.14) | (0.79) | 0.97 | (5.08) |
| Closing cash | 6.35 | 0.84 | 0.27 | 0.46 | 0.64 | 1.43 | 1.90 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -16.2% | +35.1% | +41.2% | -5.1% | +101.7% | -63.6% | - |
| EBITDA growth | -118.9% | +218.0% | -1266.7% | -60.0% | +97.2% | +42.7% | - |
| PBT growth | -77.3% | +9998.0% | -500.0% | - | +9998.0% | +30.7% | - |
| Net income growth | -55.3% | -8.4% | +403.0% | -21.4% | +120.0% | +70.3% | - |
| Revenue CAGR (3Y) | +16.9% | +21.9% | +39.3% | -11.4% | -11.4% | +1018.7% | +112.0% |
| EBITDA CAGR (3Y) | +44.9% | - | -15.4% | -70.6% | -49.0% | -31.0% | +46.8% |
| Profitability & leverage | |||||||
| Net income margin | +1.4% | +8.3% | -5.5% | -1.1% | +2.4% | -34.2% | -19.3% |
| Return on capital employed | - | +6.4% | 0.0% | 0.0% | +1.8% | 0.0% | 0.0% |
| Return on net worth | - | +7.5% | 0.0% | 0.0% | +1.1% | 0.0% | 0.0% |
| Debt / equity | - | 0.20 | 0.23 | 0.19 | 0.26 | 0.35 | 0.34 |
| Long-term debt / equity | - | 0.17 | 0.11 | 0.02 | 0.01 | 0.00 | 0.00 |
| Interest cover | -3.88 | 5.12 | -5.25 | -184.78 | -46.59 | -4.38 | -4.49 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 2.51 | 1.89 | 1.39 | 1.49 | 0.72 | 2.07 |
| Inventory turnover | - | 0.88 | 0.59 | 0.48 | 0.52 | 0.22 | 0.59 |
| Debtors turnover | - | 2.65 | 3.18 | 2.49 | 3.09 | 1.42 | 1.97 |
| EPS (₹) | 0.03 | 0.08 | (0.15) | 0.02 | 0.02 | (0.11) | (0.27) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 2.77 | 2.78 | 2.85 | 2.79 | 2.76 | 2.88 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.19 | 0.23 | 0.33 | 1.04 | 5.66 | 0.00 | 0.02 | 0.00 |
| Revenue growth (YoY) | -96.6% | - | +1550.0% | - | +654.7% | - | - | - |
| Other income | 0.19 | 0.19 | 0.10 | 0.08 | 0.08 | 0.05 | 0.08 | 0.03 |
| Total expenses | 0.71 | 0.77 | 0.59 | 1.22 | 5.36 | 0.57 | 0.29 | 0.86 |
| EBITDA | (0.52) | (0.54) | (0.26) | (0.18) | 0.30 | (0.57) | (0.27) | (0.86) |
| EBITDA margin | -273.7% | -234.8% | -78.8% | -17.3% | +5.3% | - | -1350.0% | - |
| Depreciation | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
| Profit before tax | (0.35) | (0.36) | (0.17) | (0.11) | 0.37 | (0.53) | (0.21) | (0.85) |
| Tax | (0.02) | 0.43 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.12) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 7.26 | 0.78 | 1.05 | 4.30 | 0.73 | 0.00 | 0.00 |
| Revenue growth | +830.8% | -25.7% | -75.6% | +489.0% | - | - | - |
| Other income | 0.45 | 0.22 | 0.64 | 0.60 | 0.57 | 1.43 | 4.23 |
| Total expenses | 7.94 | 2.04 | 5.14 | 3.82 | 0.89 | 18.63 | 6.80 |
| Employee cost | 0.00 | 0.09 | 0.12 | 0.27 | 0.10 | 0.05 | 0.06 |
| EBITDA | (0.68) | (1.26) | (4.09) | 0.48 | (0.16) | (18.63) | (6.80) |
| EBITDA margin | -9.4% | -161.5% | -389.5% | +11.2% | -21.9% | - | - |
| Depreciation | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 | 0.04 | 0.04 |
| Interest | 0.00 | 0.03 | 0.00 | 0.06 | 0.00 | 0.00 | 0.01 |
| Profit before tax | (0.27) | (1.11) | (3.49) | 0.99 | 0.37 | (17.24) | (2.62) |
| Tax | 0.43 | 0.00 | (0.01) | (0.02) | 0.01 | 0.00 | 0.00 |
| Net profit | (0.70) | (1.11) | 0.65 | 1.01 | 0.36 | (17.24) | (4.61) |
| Net profit margin | -9.6% | -142.3% | +61.9% | +23.5% | +49.3% | - | - |
| EPS (₹) | (0.04) | (0.06) | (0.18) | 0.05 | 0.02 | (0.90) | (0.14) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 |
| Reserves & surplus | (1.31) | (0.61) | 0.50 | 3.96 | 2.97 | 2.61 | 19.85 |
| Shareholders' funds (net worth) | 37.07 | 37.77 | 38.88 | 42.34 | 41.35 | 40.99 | 58.23 |
| Secured loans | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 37.08 | 37.77 | 39.06 | 42.38 | 41.38 | 41.01 | 58.25 |
| Assets | |||||||
| Gross block | 2.20 | 1.92 | 1.92 | 40.65 | 1.92 | 1.92 | 1.52 |
| Net block | 0.67 | 0.43 | 0.46 | 0.50 | 0.53 | 0.57 | 0.60 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 6.12 | 6.12 | 6.12 | 6.31 | 6.31 | 6.31 | 12.33 |
| Inventories | 6.32 | 9.45 | 10.28 | 10.61 | 8.81 | 9.15 | 9.14 |
| Sundry debtors | 0.41 | 4.04 | 4.09 | 3.45 | 0.73 | 0.00 | 0.00 |
| Cash & bank balances | 5.80 | 0.07 | 0.04 | 0.26 | 0.07 | 0.03 | 0.03 |
| Loans & advances | 15.31 | 15.36 | 15.92 | 19.15 | 18.72 | 17.93 | 34.90 |
| Total current assets | 27.84 | 28.92 | 30.33 | 33.47 | 28.33 | 27.11 | 44.07 |
| Total current liabilities | 0.24 | 0.40 | 0.86 | 1.84 | 0.14 | 0.21 | 0.14 |
| Net working capital | 27.60 | 28.52 | 29.47 | 31.63 | 28.19 | 26.90 | 43.93 |
| Total assets | 37.08 | 37.77 | 39.06 | 42.38 | 41.38 | 41.01 | 58.25 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.07 | 0.04 | 0.26 | 0.05 | 0.02 | 0.01 | 0.01 |
| Net cash from operating activities | 5.78 | (0.33) | (1.47) | (2.41) | (0.21) | 5.86 | (0.13) |
| Net cash from investing activities | (1.61) | 0.56 | 1.09 | 2.62 | 0.24 | (5.85) | 0.47 |
| Net cash from financing activities | 0.00 | (0.20) | 0.17 | 0.00 | 0.00 | 0.00 | (0.35) |
| Net change in cash | 4.17 | 0.03 | (0.21) | 0.21 | 0.03 | 0.01 | (0.01) |
| Closing cash | 5.80 | 0.07 | 0.04 | 0.26 | 0.07 | 0.03 | 0.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +830.8% | -25.7% | -75.6% | +489.0% | - | - | - |
| EBITDA growth | +46.0% | +69.2% | -952.1% | +400.0% | +99.1% | -174.0% | - |
| PBT growth | +75.7% | +68.2% | - | +167.6% | +9998.0% | -558.0% | -3175.0% |
| Net income growth | +36.9% | -270.8% | -35.6% | +180.6% | +102.1% | -274.0% | - |
| Revenue CAGR (3Y) | +19.1% | +2.2% | - | - | - | - | - |
| EBITDA CAGR (3Y) | - | +99.0% | -39.7% | - | -40.5% | +231.8% | +90.7% |
| Profitability & leverage | |||||||
| Net income margin | -9.6% | -142.3% | -331.4% | +23.5% | +49.3% | - | - |
| Return on capital employed | - | 0.0% | 0.0% | +1.8% | +0.7% | 0.0% | 0.0% |
| Return on net worth | - | 0.0% | 0.0% | +1.7% | +0.7% | 0.0% | 0.0% |
| Debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 0.00 | -2.31 | 0.00 | 13.33 | 0.00 | 0.00 | -0.15 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 0.41 | 0.05 | 0.20 | 0.38 | 0.00 | 0.00 |
| Inventory turnover | - | 0.08 | 0.10 | 0.44 | 0.08 | 0.00 | 0.00 |
| Debtors turnover | - | 0.19 | 0.28 | 2.06 | 2.00 | 0.00 | 0.00 |
| EPS (₹) | (0.04) | (0.06) | (0.18) | 0.05 | 0.02 | (0.90) | (0.14) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 1.97 | 2.03 | 2.21 | 2.15 | 2.14 | 3.03 |
To see the full year-wise statements and ratios of Minal Industries Limited, buy the company report.
Board of directors of Minal Industries Limited
Minal Industries has 5 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shrikant Jesinglal Parikh Also directs: Minal Infojewels Limited, Minal Infrastructures & Properties Private Limited, Minal Lifestyles Private Limited and 5 more | Managing Director | 11 Jan 1988 | 38 Years 9 Months | Current |
| Disha Hiteshkumar Rathod | Director | 30 May 2025 | 1 Years 5 Months | Current |
| Divyanshu Navlakha Also directs: Anshumita Jewels Private Limited, Sitara Jewellery Private Limited | Director | 04 Mar 2025 | 1 Years 7 Months | Current |
| Ajay Jormal Mehta Also directs: Adira Ecom LLP | Director | 30 Jun 2024 | 2 Years 4 Months | Current |
| Subham Chand Jain Also directs: Minal Infojewels Limited, Minal Infrastructures & Properties Private Limited, Minal Lifestyles Private Limited and 4 more | Director | 26 Aug 2023 | 3 Years 2 Months | Current |
Auditor
Minal Industries Limited is audited by H V P S & ASSOCIATES for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| H V P S & ASSOCIATES | FY 2024 | 137533W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 40.80%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 59.20%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 40.80% | 40.80% | 40.60% | 40.60% |
| Public | 59.20% | 59.20% | 59.40% | 59.40% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Oct 1992 | 90094697 | Corporation Bank | ₹1.25 Lakh | Open | |
| 21 Jun 1988 | 90094577 | Gujrat State Financial Corporation | ₹14.65 Lakh | Open |
To see the full charge records of Minal Industries Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Minal Industries Limited has 19 deals on record (19 market trades); the latest was in July 2010.
Deals on record (5 of 19)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2010 | Market trade | ₹35.5 Lakh | Seller: Mansi Share and Stock Broking Private Limited |
| Jul 2010 | Market trade | ₹3.27 Cr | Buyer: NBN Fintrade Private Limited , Prudential Stock & Securities Ltd. , an individual Seller: NBN Fintrade Private Limited , Prudential Stock & Securities Ltd. , 2 individuals |
| Jun 2010 | Market trade | ₹13.3 Lakh | Seller: NBN Fintrade Private Limited |
| Jun 2010 | Market trade | ₹34.2 Lakh | Buyer: NBN Fintrade Private Limited , an individual Seller: NBN Fintrade Private Limited , an individual |
| Jun 2010 | Market trade | ₹20.8 Lakh | Buyer: NBN Fintrade Private Limited Seller: NBN Fintrade Private Limited |
To see the full deal history of Minal Industries 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
Minal Industries Limited has 2 court cases on record: 2 filed by Minal Industries. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (CSP) | Filed by the company | Disposed |
| Bombay High Court | Court case (CSD) | Filed by the company | Disposed |
To see the full case history of Minal 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.
MSME payment delays
Minal Industries Limited has 3 MSME Form 1 returns on record between 2023 and 2024, listing 7 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 |
|---|---|---|---|
| Shark Advertising Private Limited |
To see the full MSME payment records of Minal Industries Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Minal Industries has 1 associated company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
GST
Minal Industries has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCM3102D1Z6 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Minal Industries Limited, buy the company report.
Recent activity
Minal Industries Limited has 21 board changes on record since 1988: 13 appointments and 8 cessations. The latest: Disha Hiteshkumar Rathod was appointed as Director on 30 May 2025.
15 earlier events are in the company report.
News
Frequently asked questions
Minal Industries is an active public limited company based in Mumbai, Maharashtra, India. The company works in metal foundry and fabrication services, within the engineering industry. It was incorporated on 11 January 1988 (38+ years old) and is registered under CIN L32201MH1988PLC216905. Listed on BSE: 522235 and NSE: MINALIND.
Minal Industries reported revenue of ₹42.83 Cr for FY 2025-26 (down 16.2% YoY) based on consolidated financials.
Minal Industries has 5 current directors:
- Shrikant Jesinglal Parikh - Managing Director
- Disha Hiteshkumar Rathod - Director
- Divyanshu Navlakha - Director
- Ajay Jormal Mehta - Director
- Subham Chand Jain - Director
The latest financial statements of Minal Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Minal Industries is 27AABCM3102D1Z6, 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 Minal Industries is L32201MH1988PLC216905. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Minal Industries is a listed company as per MCA records. Its shares are listed on both BSE (code: 522235) and NSE (symbol: MINALIND).
Minal Industries has 2 court cases on record: 2 filed by the company.
Minal Industries was incorporated on 11 January 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.
Minal Industries has 19 deals on record (19 market trades); the latest was in July 2010.
Disha Hiteshkumar Rathod was appointed as Director on 30 May 2025. Divyanshu Navlakha was appointed as Director on 04 Mar 2025. Sona Akash Parikh ceased to be Director on 03 Mar 2025. Minal Industries has 21 board changes on record in total.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
