About Modine Thermal Systems Private Limited
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Modine Thermal Systems Private Limited is a private limited company based in Sunguvarchatiram, Tamil Nadu, India, a subsidiary of Modine Manufacturing. It operates in the industrial compressors and pneumatic systems segment of the machinery and industrial equipment sector. It was incorporated on 15 December 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U29305TN2006PTC061752. Its GSTIN is 33AAECM9438K1Z4 (Tamil Nadu). The company holds 4 GST registrations, all of them active.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹80.01 Cr. It is led by directors including Raghavendran Sathish (Managing Director) and Mathew Reid Powell.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at K7 Sipcot Industrial Park Mambakkam Village, Sunguvarchatiram, Tamil Nadu, India – 602106.
As per the financials filed for FY 2025, the company reported a revenue of ₹519.87 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net profit of ₹72.66 Cr (net margin 14%) and EBITDA of ₹113.79 Cr (EBITDA margin 21.9%). Revenue has grown at a compounded annual rate (CAGR) of 8% over three years and 18% over five years.
The company has about 272 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Modine Manufacturing Company. Court records list 12 cases involving the company, including 12 filed by the company. The company has 8 deals on record (5 funding rounds, 3 secondary share transfers), with disclosed funding of ₹123.7 Cr; the latest was in March 2024. Its 7 peer companies in the Machinery and Equipment industry (Compressors), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 4 larger and 3 smaller; the largest is Burckhardt Compression (India) Private Limited with revenue of ₹803.71 Cr. The company has 7 MSME Form 1 returns on record between 2019 and 2024, listing 18 overdue payments to 10 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website modine.com.
Company details
Contact details
Modine Thermal Systems Private Limited's registered office is in Sunguvarchatiram, Tamil Nadu. Its website is modine.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressK7 Sipcot Industrial Park Mambakkam Village, Sunguvarchatiram, Tamil Nadu, India – 602106
- IndustryMachinery and Equipment, Industrial Compressors & Pneumatic Systems
To see the full contact details of Modine Thermal Systems 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
Modine Thermal Systems operates one associated brand: Modine Manufacturing Company. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Heat transfer products for vehicles are manufactured and supplied. | modine.com |
Business activity
The main business activity of Modine Thermal Systems 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 Modine Thermal Systems Private Limited, buy the company report.
Financials of Modine Thermal Systems Private Limited
FY 2024 filings availableModine Thermal Systems Private Limited reported revenue of ₹519.87 Cr (down 3% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 3% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 18%. EBITDA fell 4% 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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| EBITDA | ₹113.79 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | ₹72.66 Cr | ||||
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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 | 21.9% | ||||
| Net Profit Margin | 14% | ||||
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To see the full financial statements and ratios of Modine Thermal Systems Private Limited, buy the company report.
Board of directors of Modine Thermal Systems Private Limited
Modine Thermal Systems has 4 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mathew Reid Powell | Director | 20 Jan 2022 | 4 Years 9 Months | Current |
| Raghavendran Sathish Also directs: Modine Climate Solutions India Private Limited | Managing Director | 12 Apr 2023 | 3 Years 6 Months | Current |
| John William Kis | Director | 29 Sep 2025 | 1 Years 1 Months | Current |
| Jeremy Michael Patten | Additional Director | 10 Dec 2025 | 0 Years 10 Months | Current |
Peer comparison
Modine Thermal Systems Private Limited is compared with the 7 companies closest to it by revenue in the Machinery and Equipment industry (Compressors), 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 |
|---|---|---|---|---|---|---|
| Burckhardt Compression (India) Private Limited | ₹803.71 Cr (FY 2025) | 60.0% | Pune, Maharashtra, India | |||
| Kaeser Compressors (India) Private Limited | ₹738.12 Cr (FY 2025) | -9.0% | Pune, Maharashtra, India | |||
| Tecumseh Products India Private Limited | ₹682.53 Cr (FY 2025) | 24.0% | Hyderabad, Telangana, India | |||
| Stulz - Chspl (India) Private Limited | ₹551.25 Cr (FY 2025) | 11.0% | Mumbai, Maharashtra, India | |||
| Modine Thermal Systems Private Limitedthis company | ₹519.87 Cr (FY 2025) | ₹72.66 Cr | 14% | -3.0% | 272 | Sunguvarchatiram, Tamil Nadu, India |
| Sidwal Refrigeration Industries Private Limited | ₹453.15 Cr (FY 2025) | -7.0% | Ballabgarh, Haryana, India | |||
| KRN Heat Exchanger and Refrigeration Limited | ₹441.71 Cr (FY 2025) | 41.0% | Neemrana, Rajasthan, India | |||
| Climaveneta Climate Technologies Private Limited | ₹417.97 Cr (FY 2025) | 27.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Modine Thermal Systems Private Limited, buy the company report.
Auditor
Modine Thermal Systems Private Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2023 | 117366W/W-100018 |
Shareholding
The shareholding of Modine Thermal Systems Private 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 Modine Thermal Systems Private Limited, buy the company report.
Deals & funding
Modine Thermal Systems Private Limited has 8 deals on record (5 funding rounds, 3 secondary share transfers), with disclosed funding of ₹123.7 Cr; the latest was in March 2024.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Seller: Modine Manufacturing Company |
| Mar 2013 | Funding round | ₹30.56 Cr | Investors: Modine Manufacturing Company |
| Aug 2012 | Funding round | ₹41.76 Cr | Investors: Modine Manufacturing Company |
| Nov 2010 | Funding round | ₹20.47 Cr | Investors: Modine Manufacturing Company, Modine Inc |
| Nov 2008 | Funding round | ₹4.25 Cr | Investors: Modine Manufacturing Company, Modine Inc |
To see the full deal history of Modine Thermal Systems Private 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
Modine Thermal Systems Private Limited has 12 court cases on record: 12 filed by Modine Thermal Systems. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 12 | 0 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Writ petition | Filed by the company against Commissioner of Customs, Chennai-Ii | Disposed |
| Madras High Court | Writ petition | Filed by the company against an individual | Disposed |
| Madras High Court | Writ petition | Filed by the company against Principal Commissioner of Customs, Chennai II | Disposed |
| Madras High Court | Writ petition | Filed by the company against Principal Commissioner of Customs, Chennai VII | Disposed |
| Madras High Court | Writ petition | Filed by the company against Commissioner of Customes Chennai II | Disposed |
To see the full case history of Modine Thermal Systems 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
Modine Thermal Systems Private Limited has 7 MSME Form 1 returns on record between 2019 and 2024, listing 18 overdue payments to 10 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 10)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Micro-Tech CNC Pressings India Private Limited | |||
| PKM Metal Buildings Company Private Limited | |||
| Sibar Auto Parts Ltd | |||
| VKM Automated Systems Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Modine Thermal Systems Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Modine Thermal Systems has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Luvata India Pvt Ltd | U29253TN2011FTC120002 |
To see the full group structure of Modine Thermal Systems Private Limited, buy the company report.
Employees & EPFO
Modine Thermal Systems Private Limited has a workforce of 272 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Modine Thermal Systems has 4 GST registrations: 4 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAECM9438K1Z4 | Tamil Nadu | Active | 01 Jul 2017 |
| 33AAECM9438K2Z3 | Tamil Nadu | Active | 27 May 2025 |
| 05AAECM9438K1Z3 | Uttarakhand | Active | 13 Mar 2020 |
| 06AAECM9438K1Z1 | Haryana | Active | 08 Jan 2025 |
To see the full GST registrations and return filing status of Modine Thermal Systems Private Limited, buy the company report.
Recent activity
Modine Thermal Systems Private Limited has 17 board changes on record since 2009: 4 appointments and 13 cessations. The latest: Jeremy Michael Patten was appointed as Additional Director on 10 Dec 2025.
8 earlier events are in the company report.
News
Frequently asked questions
Modine Thermal Systems is an active private limited company based in Sunguvarchatiram, Tamil Nadu, India. The company works in industrial compressors and pneumatic systems, within the machinery and equipment industry. It was incorporated on 15 December 2006 (20+ years old) and is registered under CIN U29305TN2006PTC061752.
Modine Thermal Systems has 4 current directors:
- Raghavendran Sathish - Managing Director
- Mathew Reid Powell - Director
- John William Kis - Director
- Jeremy Michael Patten - Additional Director
The latest financial statements of Modine Thermal Systems on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Modine Thermal Systems is 33AAECM9438K1Z4, registered in Tamil Nadu. The company has 4 GST registrations in all, of which 4 are active. Other active GSTINs include 33AAECM9438K2Z3 (Tamil Nadu), 05AAECM9438K1Z3 (Uttarakhand), 06AAECM9438K1Z1 (Haryana).
The CIN (Corporate Identification Number) of Modine Thermal Systems is U29305TN2006PTC061752. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Modine Thermal Systems has 12 court cases on record: 12 filed by the company.
Modine Thermal Systems was incorporated on 15 December 2006, making it 20+ years old. It is registered with the Registrar of Companies, Chennai.
Modine Thermal Systems has 8 deals on record (5 funding rounds, 3 secondary share transfers), with disclosed funding of ₹123.7 Cr; the latest was in March 2024.
The peers of Modine Thermal Systems by revenue are Burckhardt Compression (India) Private Limited, Kaeser Compressors (India) Private Limited, Tecumseh Products India Private Limited, Stulz - Chspl (India) Private Limited, Sidwal Refrigeration Industries Private Limited and 2 more, all in the Machinery and Equipment industry (Compressors), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Jeremy Michael Patten was appointed as Additional Director on 10 Dec 2025. John William Kis was appointed as Director on 29 Sep 2025. John William Kis ceased to be Director on 29 Aug 2025. Modine Thermal Systems has 17 board changes on record in total.
Modine Thermal Systems has 7 MSME Form 1 returns on record between 2019 and 2024, listing 18 overdue payments to 10 micro and small suppliers. The latest return was filed on 26 Apr 2024.
Modine Thermal Systems can be reached through the website modine.com. Its registered office is in Sunguvarchatiram, Tamil Nadu, India.
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