Mindra EV Private Limited
About Mindra EV Private Limited
Data last updated:
Mindra EV Private Limited is a private limited company based in Ahmedabad, Gujarat, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 31 May 2022.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U32309GJ2022PTC132525. Its GSTIN is 24AAPCM8339J1ZW (Gujarat).
The company has an authorised share capital of ₹1.15 Lakh and a paid-up capital of ₹1.07 Lakh. It is led by directors including Dhaval Hasmukhlal Shah and Jainam Miteshbhai Shah.
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 Plot No 160 Devraj Industrial Park, Ahmedabad, Gujarat.
As per the financials filed for FY 2024, the company reported a revenue of ₹29.28 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹64.03 Lakh (net margin 2.2%) and EBITDA of ₹2.01 Cr (EBITDA margin 6.9%).
The company has about 31 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mindra EV. As per MCA filings, the company has open charges of ₹9.26 Cr and satisfied charges of ₹5 Cr on record. Court records list 3 cases involving the company, including 2 filed by the company and 1 filed against it; 2 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.5 Cr; the latest was in March 2024. Its 5 peer companies in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 1 larger and 4 smaller; the largest is Demont Home Appliances Manufacturing Private Limited with revenue of ₹30.22 Cr.
Company details
Contact details
Mindra EV Private Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressPlot No 160 Devraj Industrial Park, Piplaj – Pirana Road, Ahmedabad, Gujarat, India – 382405
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Mindra EV Private 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
Mindra EV operates one associated brand: Mindra EV. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Produces high-quality electric vehicle chargers for commercial use. | mindraev.com |
Business activity
The main business activity of Mindra EV is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Mindra EV Private Limited, buy the company report.
Financials of Mindra EV Private Limited
FY 2025 filings availableMindra EV Private Limited reported revenue of ₹29.28 Cr (up 463% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue rose 463% in the latest year. EBITDA rose 669% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ₹29.28 Cr | |
| Other Income | ||
| Total Revenue | ||
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | ₹2.01 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | ₹64.03 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
| Metrics | FY 2023-24 | FY 2022-23 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | 6.9% | |
| Net Profit Margin | 2.2% | |
| 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 | ||
To see the full financial statements and ratios of Mindra EV Private Limited, buy the company report.
Board of directors of Mindra EV Private Limited
Mindra EV has 4 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dhaval Hasmukhlal Shah Also directs: Oliva Battery Technologies Private Limited, Nessa Illumination Technologies Private Limited, Swasemi Private Limited and 1 more | Director | 25 Jan 2023 | 3 Years 9 Months | As last reported |
| Jainam Miteshbhai Shah Also directs: Mindra Green Energy LLP, Mindra New Energy Private Limited | Director | 31 May 2022 | 4 Years 4 Months | As last reported |
| Khushbu Dhavalbhai Shah | Director | 31 May 2022 | 4 Years 4 Months | As last reported |
| Dhairya Miteshbhai Shah | Director | 31 May 2022 | 4 Years 4 Months | As last reported |
Peer comparison
Mindra EV Private Limited is compared with the 5 companies closest to it by revenue in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Demont Home Appliances Manufacturing Private Limited | ₹30.22 Cr (FY 2017) | 987.0% | Mumbai, Maharashtra, India | |||
| Mindra EV Private Limitedthis company | ₹29.28 Cr (FY 2024) | ₹64.03 Lakh | 2.2% | 463.0% | 31 | Ahmedabad, Gujarat, India |
| Neuation Technologies Private Limited | ₹29.24 Cr (FY 2021) | 43.0% | Kalol, Gujarat, India | |||
| Europlak SV Cucine India Limited | ₹29.19 Cr (FY 2025) | 25.0% | Pune, Maharashtra, India | |||
| Samudra Electronic System Private Limited | ₹29.18 Cr (FY 2024) | 66.0% | Pune, Maharashtra, India | |||
| Modern Electrofab Private Limited | ₹29.1 Cr (FY 2024) | 60.0% | Delhi, India |
To see the full peer comparison of Mindra EV Private Limited, buy the company report.
Auditor
Mindra EV Private Limited is audited by Manan Shah & Co. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Manan Shah & Co. | FY 2024 | 132416W |
Shareholding
The shareholding of Mindra EV Private Limited is on record for FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Foreign institutional investors (FII) | |
| Public | |
| Others |
To see the full shareholding pattern of Mindra EV Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Jul 2024 | 100984290 | Others | ₹9 Cr | Open | |
| 07 Nov 2022 | 100663487 | Hdfc Bank Limited | ₹26 Lakh | Open | |
| 11 Sep 2023 | 100786644 | Hdfc Bank Limited | ₹5 Cr | Satisfied |
To see the full charge records of Mindra EV Private Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Mindra EV Private Limited has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.5 Cr; the latest was in March 2024.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Aug 2023 | Funding round | ₹1.5 Cr | Investors: 4 individuals |
| Oct 2022 | Rights issue | ₹74.2 Lakh | Investors: Sanghvi Infotech Private Limited |
| Sep 2022 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mindra EV Private Limited has 3 court cases on record: 2 filed by Mindra EV, 1 filed against it. 2 cases are pending and 1 is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 0 | 1 |
| High courts | 1 | 1 | 1 |
| NCLT | 1 | 0 | 0 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Commercial suit | Filed against the company by Minda Spectrum Advisory Limited & Ors. | Pending |
| District court, Ahmedabad, Gujarat | Court case (SPCS) | Filed by the company against individuals | Pending |
| NCLT, NCLT Ahmedabad | Insolvency matter | Filed by the company against an individual | Disposed |
To see the full case history of Mindra EV Private 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
No delayed payments to MSME suppliers are on our record for Mindra EV Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Mindra EV Private Limited has a workforce of 31 employees on its EPFO records as of Sep 25, 2025, across 1 active EPFO establishment.
GST
Mindra EV has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAPCM8339J1ZW | Gujarat | Active | 28 Jul 2022 |
To see the full GST registrations and return filing status of Mindra EV Private Limited, buy the company report.
Recent activity
Mindra EV Private Limited has 5 board changes on record since 2022: 4 appointments and 1 cessation. The latest: Dhaval Hasmukhlal Shah ceased to be Additional Director on 29 Sep 2023.
1 earlier event is in the company report.
Frequently asked questions
Mindra EV is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Mindra EV is a company under insolvency, formerly operating as a private limited company based in Ahmedabad, Gujarat, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 31 May 2022 and is registered under CIN U32309GJ2022PTC132525. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Mindra EV has 4 current directors:
- Dhaval Hasmukhlal Shah - Director
- Jainam Miteshbhai Shah - Director
- Khushbu Dhavalbhai Shah - Director
- Dhairya Miteshbhai Shah - Director
The latest financial statements of Mindra EV on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2023 are in the company report.
The CIN (Corporate Identification Number) of Mindra EV is U32309GJ2022PTC132525. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mindra EV has open charges of ₹9.26 Cr and satisfied charges of ₹5 Cr as per latest MCA filings.
Mindra EV has 3 court cases on record: 2 filed by the company and 1 filed against it. 2 are pending. Most are in the district courts.
Mindra EV was incorporated on 31 May 2022. It is registered with the Registrar of Companies, Ahmedabad.
Mindra EV has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.5 Cr; the latest was in March 2024.
The peers of Mindra EV by revenue are Demont Home Appliances Manufacturing Private Limited, Neuation Technologies Private Limited, Europlak SV Cucine India Limited, Samudra Electronic System Private Limited, Modern Electrofab Private Limited, all in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Dhaval Hasmukhlal Shah ceased to be Additional Director on 29 Sep 2023. Dhaval Hasmukhlal Shah was appointed as Director on 25 Jan 2023. Dhairya Miteshbhai Shah was appointed as Director on 31 May 2022. Mindra EV has 5 board changes on record in total.