MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2023-24)
- Udyam number
- UDYAM-DN-01-0000832
Ascent Meditech Limited - healthcare in Dungri, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹183.09 Cr
▼ 12% YoY
Net loss · FY 2025
₹10.65 Cr
Net margin -5.8%
EBITDA · FY 2025
₹6.5 Cr
EBITDA margin 3.5%
Authorised capital
₹3 Cr
Registered with MCA
Paid-up capital
₹1.2 Cr
Issued & subscribed
Open charges
₹92.43 Cr
Satisfied ₹35.73 Cr
Company age
14 yrs
Est. 2012
Employees · EPFO
933
Provident fund records
About Ascent Meditech Limited
Data last updated:
Ascent Meditech Limited is a public limited company based in Dungri, Gujarat, India. It operates in the medical and laboratory equipment segment of the healthcare sector. It was incorporated on 12 June 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U33110GJ2012PLC126535. Its GSTIN is 24AAKCA6302L1ZQ (Gujarat). The company holds 18 GST registrations, of which 15 are active.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹1.2 Cr. It is led by directors including Rajiv Ishwarbhai Mistry (Managing Director) and Jayesh Narendra Sheth.
Its last annual general meeting (AGM) was held on 15 December 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Block/Survey No.1545/1548/1549/1550/1561/ 1562/1563/1564 Dungri 66 Kva Road, Gujarat, India – 396375.
As per the financials filed for FY 2025, the company reported a revenue of ₹183.09 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net loss of ₹10.65 Cr (net margin -5.8%) and EBITDA of ₹6.5 Cr (EBITDA margin 3.5%). Revenue has grown at a compounded annual rate (CAGR) of 6% over three years and 8% over five years.
The company has about 933 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 2 brands: Flamingo Health and Ascent Meditech. As per MCA filings, the company has open charges of ₹92.43 Cr and satisfied charges of ₹35.73 Cr on record. Court records list 114 cases involving the company, including 64 filed by the company and 50 filed against it; 30 cases are pending. The company has 5 deals on record (3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹44.99 Cr; the latest was in December 2021. Its 3 peer companies in the Healthcare industry (Medical and Laboratory Equipment), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 3 larger; the largest is Innovation Imaging Technologies Private Limited with revenue of ₹194.54 Cr. The company has 12 MSME Form 1 returns on record between 2019 and 2023, listing 1,680 overdue payments to 88 micro and small suppliers.
Ascent Meditech Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-DN-01-0000832). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ascentmeditech.com.
Company details
CIN U33110GJ2012PLC126535
Registration Number 126535
Incorporation Date 12 June 2012
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-DN-01-0000832
CIN history
Ascent Meditech has one previous CIN (Corporate Identification Number): U33110DN2012PLC000404. The current CIN is U33110GJ2012PLC126535, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U33110GJ2012PLC126535 | Current |
| U33110DN2012PLC000404 | Previous |
Key People
Rajiv Ishwarbhai Mistry Managing Director Shyam S Krishnan Cfo Jayesh Narendra Sheth Director Recognitions & Rankings of Ascent Meditech
Contact details
Ascent Meditech Limited's registered office is in Dungri, Gujarat. Its website is ascentmeditech.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressBlock/Survey No.1545/1548/1549/1550/1561/ 1562/1563/1564 Dungri 66 Kva Road, Gujarat, India – 396375
- IndustryHealthcare, Medical & Laboratory Equipment
To see the full contact details of Ascent Meditech Limited, buy the company report.
Comprehensive company report
Ascent Meditech 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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Brands
Ascent Meditech operates two associated brands: Flamingo Health and Ascent Meditech. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers orthopaedic supports, healthcare items, and mobility aids for relief. | flamingohealth.com | |
| Orthopedic soft goods, bandages, and mobility aids are developed. | ascentmeditech.com |
Business activity
The main business activity of Ascent Meditech is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Ascent Meditech Limited, buy the company report.
Financials of Ascent Meditech Limited
FY 2025 filings availableAscent Meditech Limited reported revenue of ₹183.09 Cr (down 12% YoY) for FY 2025.
Revenue · FY 2025
₹183.09 Cr ▼ 12%
Net loss · FY 2025
₹10.65 Cr margin -5.8%
EBITDA · FY 2025
₹6.5 Cr margin 3.5%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 12%
3 years · compounded
▲ 6%
5 years · compounded
▲ 8%
EBITDA CAGR growth
1 year
▼ 46%
3 years · compounded
▼ 25%
5 years · compounded
▲ 4%
Revenue fell 12% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. EBITDA fell 46% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
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| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹6.5 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹10.65 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
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| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
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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 | 3.5% | ||||
| Net Profit Margin | -5.8% | ||||
| 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 Ascent Meditech Limited, buy the company report.
Board of directors and KMP of Ascent Meditech Limited
Ascent Meditech Limited currently reports 7 directors and 1 key managerial person. 15 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jayesh Narendra Sheth Also directs: Modulex Construction Technologies Limited, Advenza Global Limited, Modulex Modular Buildings Private Limited and 1 more | Director | 28 Mar 2025 | 1 Years 7 Months | Current |
| Rajiv Ishwarbhai Mistry Also directs: Badshah Masala Private Limited, Flint Management Consultants LLP, Doms Industries Limited and 1 more | Managing Director | 12 Jun 2012 | 14 Years 5 Months | Current |
| Felix Andy Awili Olale | Nominee Director | 18 Mar 2021 | 5 Years 7 Months | Current |
| Shyam S Krishnan | Cfo | 08 Sep 2021 | 5 Years 2 Months | Current |
| Ajaykumar Gunvantrai Shah | Director | 12 Jun 2012 | 14 Years 5 Months | Current |
| Snehal Arvind Patel | Director | 22 Aug 2025 | 1 Years 2 Months | Current |
Showing 6 of 8 current directors and KMP. View all directors and KMP
Peer comparison
Ascent Meditech Limited is compared with the 3 companies closest to it by revenue in the Healthcare industry (Medical and Laboratory Equipment), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Innovation Imaging Technologies Private Limited | ₹194.54 Cr (FY 2024) | 32.0% | Bangalore, Karnataka, India | |||
| G.S.T.Corporation Limited | ₹189.42 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Opto Circuits (India) Limited | ₹185.96 Cr (FY 2020) | -28.0% | Bangalore, Karnataka, India | |||
| Ascent Meditech Limitedthis company | ₹183.09 Cr (FY 2025) | -₹10.65 Cr | -5.8% | -12.0% | 933 | Dungri, Gujarat, India |
To see the full peer comparison of Ascent Meditech Limited, buy the company report.
Auditor
Ascent Meditech Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Price Waterhouse Chartered Accountants LLP | FY 2023 | 012754N/N500016 |
Shareholding
The shareholding of Ascent Meditech 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 Ascent Meditech Limited, buy the company report.
Charges & borrowings
Open charges
₹92.43 Cr
Satisfied charges
₹35.73 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Oct 2022 | 100664564 | The Hongkong and Shanghai Banking Corporation Limited | ₹10 Cr | Open | |
| 06 May 2021 | 100444579 | Hdfc Bank Limited | ₹34.25 Cr | Open | |
| 03 Oct 2019 | 100297601 | Axis Bank Limited | ₹47.58 Cr | Open | |
| 21 Feb 2019 | 100245233 | Others | ₹60 Lakh | Open | |
| 28 Oct 2017 | 100151291 | Others | ₹8 Lakh | Satisfied |
To see the full charge records of Ascent Meditech Limited, buy the company report.
Total charge records: 10 View all charges
Deals & funding
Ascent Meditech Limited has 5 deals on record (3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹44.99 Cr; the latest was in December 2021.
Total deals
5
Funding rounds
3
Secondary share transfers
2
Disclosed funding
₹44.99 Cr
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Feb 2020 | Funding round | ₹7.2 Cr | Investors: Nippon Sigmax Company Limited |
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: LeapFrog Investments, 2 individuals Seller: 4 individuals |
| Jul 2018 | Funding round | ₹35 Cr | Investors: LeapFrog Investments |
| Sep 2012 | Funding round | ₹2.79 Cr | Investors: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ascent Meditech Limited has 114 court cases on record: 64 filed by Ascent Meditech, 50 filed against it. 30 cases are pending and 84 are disposed.
Total cases
114
Filed by the company
64
Filed against the company
50
Pending
30
Disposed
84
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 103 | 43 | 28 |
| High courts | 9 | 5 | 2 |
| Supreme Court | 2 | 2 | 0 |
Cases on record (5 of 114)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2406-Indirect Taxation : Goods and Services Tax, Integrated Goods and Services Tax, State Goods and Services Tax, UT Goods and Services Tax.) | Filed against the company by Union of India and 2 others | Disposed |
| Bombay High Court | Court case (S) | Filed by the company against Life Wear Technologies India Pvt. Ltd. and 1 other | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Life Wear Technologies India Pvt. Ltd. | Disposed |
| District court, South East, Delhi | Execution petition | Filed against the company by Yes Bank Ltd | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Appln.PGA) | Filed against the company by an individual | Pending |
To see the full case history of Ascent Meditech 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
Ascent Meditech Limited has 12 MSME Form 1 returns on record between 2019 and 2023, listing 1,680 overdue payments to 88 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 88)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Shivalik Plastic Industries | |||
| Kisco Rubber Industries | |||
| Om Vinyls Private Limited | |||
| an individual supplier | |||
| Rachna Air Components Private Limited |
To see the full MSME payment records of Ascent Meditech Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Ascent Meditech has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Ascent Sigmax Sportsmeds Private Limited | U33100MH2020PTC337993 |
To see the full group structure of Ascent Meditech Limited, buy the company report.
Employees & EPFO
Ascent Meditech Limited has a workforce of 933 employees on its EPFO records as of May 2026, across 2 active EPFO establishments.
Employee count
933
Active EPFO establishments
2
Employee growth
-2.9%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 933 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2013-14 | |
| FY 2012-13 |
To see the full employee and EPFO history of Ascent Meditech Limited, buy the company report.
GST
Ascent Meditech has 18 GST registrations: 15 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
18
Active
15
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAKCA6302L1ZQ | Gujarat | Active | 18 May 2019 |
| 26AAKCA6302L1ZM | Dadra and Nagar Haveli and Daman and Diu | Active | 01 Jul 2017 |
| 27AAKCA6302L2ZJ | Maharashtra | Active | 01 Jul 2018 |
| 29AAKCA6302L1ZG | Karnataka | Active | 04 Oct 2022 |
To see the full GST registrations and return filing status of Ascent Meditech Limited, buy the company report.
Recent activity
Ascent Meditech Limited has 23 board changes on record since 2012: 8 appointments and 15 cessations. The latest: Jayesh Narendra Sheth ceased to be Additional Director on 14 Dec 2025.
AGM
Ascent Meditech Limited last Annual general meeting of members was held on 15 Dec 2025 as per latest MCA records.
Ceased
Jayesh Narendra Sheth ceased to be Additional Director.
Ceased
Snehal Arvind Patel ceased to be Additional Director.
Appointed
Snehal Arvind Patel was appointed as Director.
Appointed
Swati Mehta was appointed as Nominee Director.
Ceased
Vikram Popli ceased to be Nominee Director.
Ceased
Felix Andy Awili Olale ceased to be Nominee Director.
Appointed
Michael Thomas Scholl Jelinske was appointed as Nominee Director.
Filing
Ascent Meditech Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Appointed
Jayesh Narendra Sheth was appointed as Director.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited of Rs. 10.00 Cr registered on 31 Oct 2022 with Charge ID 100664564 was modified on 22 Aug 2024.
Ceased
Sebastian Joseph Kumarakath ceased to be CEO.
35 earlier events are in the company report.
News
Frequently asked questions
Ascent Meditech is an active public limited company based in Dungri, Gujarat, India. The company works in medical and laboratory equipment, within the healthcare industry. It was incorporated on 12 June 2012 (14+ years old) and is registered under CIN U33110GJ2012PLC126535.
Ascent Meditech has 8 current directors and KMP:
- Rajiv Ishwarbhai Mistry - Managing Director
- Jayesh Narendra Sheth - Director
- Felix Andy Awili Olale - Nominee Director
- Ajaykumar Gunvantrai Shah - Director
- Snehal Arvind Patel - Director
- Swati Mehta - Nominee Director
- Michael Thomas Scholl Jelinske - Nominee Director
- Shyam S Krishnan - Cfo
The latest financial statements of Ascent Meditech on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 15 December 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ascent Meditech is 24AAKCA6302L1ZQ, registered in Gujarat. The company has 18 GST registrations in all, of which 15 are active and 3 are cancelled or inactive. Other active GSTINs include 26AAKCA6302L1ZM (Dadra and Nagar Haveli and Daman and Diu), 27AAKCA6302L2ZJ (Maharashtra), 29AAKCA6302L1ZG (Karnataka).
The CIN (Corporate Identification Number) of Ascent Meditech is U33110GJ2012PLC126535. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ascent Meditech has 114 court cases on record: 64 filed by the company and 50 filed against it. 30 are pending. Most are in the district courts.
Ascent Meditech was incorporated on 12 June 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Ascent Meditech has 5 deals on record (3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹44.99 Cr; the latest was in December 2021.
The peers of Ascent Meditech by revenue are Innovation Imaging Technologies Private Limited, G.S.T.Corporation Limited, Opto Circuits (India) Limited, all in the Healthcare industry (Medical and Laboratory Equipment), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
Jayesh Narendra Sheth ceased to be Additional Director on 14 Dec 2025. Snehal Arvind Patel ceased to be Additional Director on 14 Dec 2025. Snehal Arvind Patel was appointed as Director on 22 Aug 2025. Ascent Meditech has 23 board changes on record in total.
Yes, Ascent Meditech is registered as a medium enterprise under Udyam registration (number: UDYAM-DN-01-0000832).
Ascent Meditech has 12 MSME Form 1 returns on record between 2019 and 2023, listing 1,680 overdue payments to 88 micro and small suppliers. The latest return was filed on 20 Dec 2023.
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