Montage Laboratories Private Limited

Montage Laboratories Private Limited - pharma in Himatnagar, Gujarat, India. FY 2026 financials & compliance.
CIN U24231GJ1988PTC010867 Incorporated 20 June 1988 ROC Ahmedabad HQ Himatnagar, Gujarat, India
Active Private Limited Company pharma MSME · Medium
Data last updated
Revenue · FY 2026
₹77.21 Cr
▲ 59% YoY
Net profit · FY 2026
₹6.17 Cr
Net margin 8%
EBITDA · FY 2026
₹11.18 Cr
EBITDA margin 14.5%
Authorised capital
₹3.26 Cr
Registered with MCA
Paid-up capital
₹3.26 Cr
Issued & subscribed
Satisfied charges
₹70.4 Cr
No open charges
Company age
38 yrs
Est. 1988
Employees · EPFO
160
Provident fund records

About Montage Laboratories Private Limited

Data last updated:

Montage Laboratories Private Limited is a private limited company based in Himatnagar, Gujarat, India, a subsidiary of Raptakos Brett And Company Limited. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 20 June 1988 and has been in existence for over 38 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24231GJ1988PTC010867. Its GSTIN is 24AABCM6387N1ZY (Gujarat).

The company has an authorised share capital of ₹3.26 Cr and a paid-up capital of ₹3.26 Cr. It is led by directors including Vijay Harishchandra Tagwale and Denis George Dsouza.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at At & Post Dhandha, Himatnagar, Gujarat, India.

As per the financials filed for FY 2026, the company reported a revenue of ₹77.21 Cr, a growth of 59% compared to the previous year. For the same year it recorded a net profit of ₹6.17 Cr (net margin 8%) and EBITDA of ₹11.18 Cr (EBITDA margin 14.5%). Revenue has grown at a compounded annual rate (CAGR) of 33% over three years and 21% over five years.

The company has about 160 employees on its provident fund (EPFO) records.

As per MCA filings, the company has satisfied charges of ₹70.4 Cr on record. Court records list 9 cases involving the company, including 6 filed by the company and 3 filed against it; 2 cases are pending.

Montage Laboratories Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0006471). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website montagelabs.com.

Company details

CIN U24231GJ1988PTC010867
Registration Number 010867
Incorporation Date 20 June 1988
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Parent Company Raptakos Brett And Company Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-01-0006471
Key People
Vijay Harishchandra Tagwale Director Denis George Dsouza Director Suchita Gajanan Ankolekar Director

Recognitions & Rankings of Montage Laboratories

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-GJ-01-0006471

Contact details

Montage Laboratories Private Limited's registered office is in Himatnagar, Gujarat. Its website is montagelabs.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    montagelabs.com
  • Social Media
  • Registered Address
    At & Post Dhandha, Himatnagar, Gujarat, India
  • Industry
    Pharma, Drug Formulation & Development

To see the full contact details of Montage Laboratories Private Limited, buy the company report.

Comprehensive company report
Montage Laboratories Private Limited - 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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Business activity

The main business activity of Montage Laboratories is manufacturing. In detail, this covers manufacture of chemicals and chemical products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturing20Manufacture of chemicals and chemical products

To see the full business activity and turnover split of Montage Laboratories Private Limited, buy the company report.

Financials of Montage Laboratories Private Limited

FY 2026 filings available

Montage Laboratories Private Limited reported revenue of ₹77.21 Cr (up 59% YoY) for FY 2026.

Revenue · FY 2026
₹77.21 Cr ▲ 59%
Net profit · FY 2026
₹6.17 Cr margin 8%
EBITDA · FY 2026
₹11.18 Cr margin 14.5%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 59%
3 years · compounded
▲ 33%
5 years · compounded
▲ 21%
EBITDA CAGR growth
1 year
▲ 127%
3 years · compounded
▲ 108%
5 years · compounded
▲ 70%

Revenue has grown at a compounded annual rate (CAGR) of 21% over five years, including 59% growth in the latest year. EBITDA rose 127% 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

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22
Profit and Loss Statement
Revenue from Operations
Other Income
Total Revenue₹77.21 Cr
Cost of Materials Consumed
Employee Benefit Expense
Finance Costs
Depreciation and Amortisation
Other Expenses
Total Expenses
EBITDA₹11.18 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹6.17 Cr
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

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22
Profitability
EBITDA Margin14.5%
Net Profit Margin8%
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 Montage Laboratories Private Limited, buy the company report.

Board of directors of Montage Laboratories Private Limited

Montage Laboratories has 7 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Vijay Harishchandra Tagwale
Also directs: Raptakos Pharma Private Limited, Raptakos Solar Private Limited, Velacheri Properties Limited and 1 more
Director09 Mar 20215 Years 8 MonthsCurrent
Denis George Dsouza
Also directs: The Equus Stud Pvt Ltd, Mohammadi Pharma Private Limited
Director09 Mar 20215 Years 8 MonthsCurrent
Suchita Gajanan Ankolekar
Also directs: Raptakos Brett Marketing Private Limited
Director09 Mar 20215 Years 8 MonthsCurrent
Navin Raghunath ShettyDirector09 Mar 20215 Years 8 MonthsCurrent
Kantilal Nanchand Shah
Also directs: Synaphex Lifecare Private Limited
Director30 Sep 200917 Years 1 MonthsCurrent
Shrenik Kantilal Shah
Also directs: Genliva Wellness LLP
Director20 Jun 198838 Years 4 MonthsCurrent
Showing 6 of 7 current directors. View all directors

Auditor

Montage Laboratories Private Limited is audited by M M Nissim & Co LLP for the financial year 2026.

Auditor firmFinancial yearFirm registration number
M M Nissim & Co LLPFY 2026107122W

Shareholding

The shareholding of Montage Laboratories Private Limited is on record for 5 financial years, the latest being FY 2026, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2026FY 2025FY 2024FY 2023FY 2022
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Montage Laboratories Private Limited, buy the company report.

Charges & borrowings

Open charges
None
Satisfied charges
₹70.4 Cr
Breakdown by lending institutions
Others₹67.20 Cr
Indian Overseas Bank₹3.20 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
07 Sep 2020100376747Others₹5.4 CrSatisfied
23 Feb 2017100085274Others₹33.6 CrSatisfied
30 Dec 2016100073996Others₹28.2 CrSatisfied
21 Apr 201510575984Indian Overseas Bank₹3.2 CrSatisfied

To see the full charge records of Montage Laboratories Private Limited, buy the company report.

Total charge records: 4 View all charges

MSME payment delays

Montage Laboratories Private Limited has 11 MSME Form 1 returns on record between 2019 and 2022, listing 99 overdue payments to 18 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 18)

SupplierAmount dueDue sinceReported on
Accutech Packaging Private Limited
As Per the List Attached
Hufort Healthcare Private Limited
an individual supplier
Vartika Chemicals & Pharmaceuticals Private Limited

To see the full MSME payment records of Montage Laboratories Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

Montage Laboratories has 1 associated company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.

1
Associated companies

Employees & EPFO

Montage Laboratories Private Limited has a workforce of 160 employees on its EPFO records as of Feb 28, 2025, across 1 active EPFO establishment.

Employee count
160
Active EPFO establishments
1
Employee growth
7.38%

GST

Montage Laboratories has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AABCM6387N1ZYGujaratActive01 Jul 2017

To see the full GST registrations and return filing status of Montage Laboratories Private Limited, buy the company report.

Recent activity

Montage Laboratories Private Limited has 12 board changes on record since 1988: 7 appointments and 5 cessations. The latest: Denis George Dsouza ceased to be Additional Director on 18 Mar 2021.

Filing
Montage Laboratories Private Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
AGM
Montage Laboratories Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge registered on 23 Feb 2017 via Charge ID 100085274 with Others was fully satisfied on 01 Jun 2021.
Charges
A charge registered on 07 Sep 2020 via Charge ID 100376747 with Others was fully satisfied on 20 Mar 2021.
Charges
A charge registered on 30 Dec 2016 via Charge ID 100073996 with Others was fully satisfied on 20 Mar 2021.
Ceased
Denis George Dsouza ceased to be Additional Director.
Ceased
Navin Raghunath Shetty ceased to be Additional Director.
Ceased
Suchita Gajanan Ankolekar ceased to be Additional Director.
Ceased
Vijay Harishchandra Tagwale ceased to be Additional Director.
Appointed
Denis George Dsouza was appointed as Director.
Appointed
Navin Raghunath Shetty was appointed as Director.
Appointed
Shripal Kantilal Shah was appointed as Director.

13 earlier events are in the company report.

Frequently asked questions

Montage Laboratories is an active private limited company based in Himatnagar, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 20 June 1988 (38+ years old) and is registered under CIN U24231GJ1988PTC010867.

Montage Laboratories has 7 current directors:

The latest financial statements of Montage Laboratories on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Montage Laboratories is 24AABCM6387N1ZY, registered in Gujarat.

The CIN (Corporate Identification Number) of Montage Laboratories is U24231GJ1988PTC010867. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Montage Laboratories has 9 court cases on record: 6 filed by the company and 3 filed against it. 2 are pending. Most are in the district courts.

Montage Laboratories was incorporated on 20 June 1988, making it 38+ years old. It is registered with the Registrar of Companies, Ahmedabad.

Denis George Dsouza ceased to be Additional Director on 18 Mar 2021. Navin Raghunath Shetty ceased to be Additional Director on 18 Mar 2021. Suchita Gajanan Ankolekar ceased to be Additional Director on 18 Mar 2021. Montage Laboratories has 12 board changes on record in total.

Yes, Montage Laboratories is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-01-0006471).

Montage Laboratories has 11 MSME Form 1 returns on record between 2019 and 2022, listing 99 overdue payments to 18 micro and small suppliers. The latest return was filed on 01 Sep 2023.

Montage Laboratories can be reached through the website montagelabs.com. Its registered office is in Himatnagar, Gujarat, India.