About Mod Ceramic Industries Limited
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Mod Ceramic Industries Limited is a public limited company based in Morbi, Gujarat, India. It operates in the sanitaryware and tile segment of the manufacturing sector. It was incorporated on 09 December 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U26914GJ1996PLC031255. Its GSTIN is 24AABCM4347A1Z1 (Gujarat).
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹2 Cr. It is led by directors including Mahadevbhai Amarshibhai Varneshiya (Managing Director) and Ramesh Amarshibhai Varneshiya (Whole-Time Director).
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 8 – A National Highway, Morbi, Gujarat, India – 363642.
As per the financials filed for FY 2024, the company reported a revenue of ₹64.87 Lakh, a decline of 91% compared to the previous year. For the same year it recorded a net loss of ₹61.85 Lakh (net margin -95.3%) and EBITDA of ₹18.77 Lakh (EBITDA margin 28.9%). Revenue has declined at a compounded annual rate (CAGR) of 65% over three years and 41% over five years.
As per MCA filings, the company has satisfied charges of ₹7.19 Cr on record. Court records list 10 cases involving the company, including 10 filed by the company; 3 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website argiltiles.com.
Company details
Contact details
Mod Ceramic Industries Limited's registered office is in Morbi, Gujarat. Its website is argiltiles.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address8 – A National Highway, Morbi, Gujarat, India – 363642
- IndustryManufacturing, Sanitaryware & Tile, Ceramics
To see the full contact details of Mod Ceramic 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
Business activity
The main business activity of Mod Ceramic Industries 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 Mod Ceramic Industries Limited, buy the company report.
Financials of Mod Ceramic Industries Limited
FY 2025 filings availableMod Ceramic Industries Limited reported revenue of ₹64.87 Lakh (down 91% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 41% over five years, including a 91% fall in the latest year. EBITDA rose 108% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹18.77 Lakh | ||||
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| Net Profit (PAT) | -₹61.85 Lakh | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profitability | |||||
| EBITDA Margin | 28.9% | ||||
| Net Profit Margin | -95.3% | ||||
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To see the full financial statements and ratios of Mod Ceramic Industries Limited, buy the company report.
Board of directors of Mod Ceramic Industries Limited
Mod Ceramic Industries has 6 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramesh Amarshibhai Varneshiya | Whole-Time Director | 01 Jun 2008 | 18 Years 4 Months | Current |
| Nilay Mahadevbhai Varneshiya Also directs: Hiyasha Developers LLP | Whole-Time Director | 24 Apr 2003 | 23 Years 6 Months | Current |
| Kushal Rameshbhai Varneshiya Also directs: Hiyasha Developers LLP | Whole-Time Director | 01 Jun 2008 | 18 Years 4 Months | Current |
| Mahadevbhai Amarshibhai Varneshiya | Managing Director | 09 Jan 1997 | 29 Years 9 Months | Current |
| Chandrikaben Mahadevbhai Varneshiya | Director | 09 Jan 1997 | 29 Years 9 Months | Current |
| Heenaben Rameshbhai Varneshiya | Director | 09 Jan 1997 | 29 Years 9 Months | Current |
Auditor
Mod Ceramic Industries Limited is audited by DINESHKUMAR V. SHAH & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DINESHKUMAR V. SHAH & CO. | FY 2023 | 125102W |
Shareholding
The shareholding of Mod Ceramic Industries Limited 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 Mod Ceramic Industries Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Mar 2004 | 80035010 | Indian Overseas Bank | ₹7.19 Cr | Satisfied |
To see the full charge records of Mod Ceramic Industries Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
Mod Ceramic Industries Limited has 10 court cases on record: 10 filed by Mod Ceramic Industries. 3 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 9 | 0 | 3 |
| High courts | 1 | 0 | 0 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Special civil application | Filed by the company against Euro Merchandise India Limited and 3 others | Disposed |
| District court, MORBI, Gujarat | Court case (SPCS) | Filed by the company against Euro Merchandise India Limited and 3 others | Disposed |
| District court, MORBI, Gujarat | Commercial matter | Filed by the company against Euro Mechandise India Limited and 3 others | Pending |
| District court, MORBI, Gujarat | Criminal complaint | Filed by the company against an individual | Pending |
| District court, MORBI, Gujarat | Criminal complaint | Filed by the company against an individual | Pending |
To see the full case history of Mod Ceramic 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
No delayed payments to MSME suppliers are on our record for Mod Ceramic Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Mod Ceramic Industries has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCM4347A1Z1 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Mod Ceramic Industries Limited, buy the company report.
Recent activity
Mod Ceramic Industries Limited has 8 board changes on record since 1997: 7 appointments and 1 cessation. The latest: Amarshibhai Motibhai Varneshiya ceased to be Whole-Time Director on 29 Jul 2014.
2 earlier events are in the company report.
Frequently asked questions
Mod Ceramic Industries is an active public limited company based in Morbi, Gujarat, India. The company works in sanitaryware and tile, within the manufacturing industry. It was incorporated on 09 December 1996 (30+ years old) and is registered under CIN U26914GJ1996PLC031255.
Mod Ceramic Industries has 6 current directors:
- Mahadevbhai Amarshibhai Varneshiya - Managing Director
- Ramesh Amarshibhai Varneshiya - Whole-Time Director
- Nilay Mahadevbhai Varneshiya - Whole-Time Director
- Kushal Rameshbhai Varneshiya - Whole-Time Director
- Chandrikaben Mahadevbhai Varneshiya - Director
- Heenaben Rameshbhai Varneshiya - Director
The latest financial statements of Mod Ceramic Industries 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 2015 are in the company report.
The GSTIN of Mod Ceramic Industries is 24AABCM4347A1Z1, registered in Gujarat.
The CIN (Corporate Identification Number) of Mod Ceramic Industries is U26914GJ1996PLC031255. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mod Ceramic Industries has 10 court cases on record: 10 filed by the company. 3 are pending. Most are in the district courts.
Mod Ceramic Industries was incorporated on 09 December 1996, making it 30+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Amarshibhai Motibhai Varneshiya ceased to be Whole-Time Director on 29 Jul 2014. Kushal Rameshbhai Varneshiya was appointed as Whole-Time Director on 01 Jun 2008. Ramesh Amarshibhai Varneshiya was appointed as Whole-Time Director on 01 Jun 2008. Mod Ceramic Industries has 8 board changes on record in total.
Mod Ceramic Industries can be reached through the website argiltiles.com. Its registered office is in Morbi, Gujarat, India.
The registered office of Mod Ceramic Industries is at 8 – A National Highway, Morbi, Gujarat, India – 363642.