About Avesthagen Limited
Data last updated:
Avesthagen Limited is a public limited company based in Bengaluru, Karnataka, 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 biotechnology segment of the life sciences sector. It was incorporated on 20 April 1998.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U73100KA1998PLC030671. Its GSTIN is 29AABCA7217K3ZH (Karnataka). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹14 Cr and a paid-up capital of ₹7.61 Cr. It was formerly known as Avesthagen Private Limited and Avestagen Limited. It is led by directors including Villoo Zareer Morawala Patell (Managing Director) and Sanaya Zareer Patell.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at Wework Pavilion 62/63 The Pavilion Church Street, Bengaluru, Karnataka, India – 560001.
As per the financials filed for FY 2024, the company reported a revenue of ₹1.57 Cr, a decline of 52% compared to the previous year. For the same year it recorded a net loss of ₹2.5 Cr (net margin -159.2%) and EBITDA of -₹1.71 Cr (EBITDA margin -109.3%). Revenue has grown at a compounded annual rate (CAGR) of 51% over three years and 11% over five years.
As per MCA filings, the company has open charges of ₹100.49 Cr and satisfied charges of ₹13.1 Cr on record. Court records list 216 cases involving the company, including 30 filed by the company and 186 filed against it; 34 cases are pending. The company has 41 deals on record (25 funding rounds, 15 secondary share transfers, 1 rights issue), with disclosed funding of ₹226.9 Cr; the latest was in March 2022. Its 3 peer companies in the Biotechnology industry (Biotechnology), with the same principal business activity (scientific research and development) are compared by revenue, 2 larger and 1 smaller; the largest is Leucine Rich Bio Private Limited with revenue of ₹1.62 Cr.
The last known website on record is avesthagen.com.
Company details
Name history
Avesthagen has undergone 3 name changes throughout its history. The company was previously known as Avesthagen Private Limited, Avestagen Limited, and Avestha Gengraine Technologies Private Limited. The current legal name is Avesthagen Limited.
| Company Name | Status |
|---|---|
| Avesthagen Limited | Current |
| Avesthagen Private Limited | Previous |
| Avestagen Limited | Previous |
| Avestha Gengraine Technologies Private Limited | Previous |
CIN history
Avesthagen has one previous CIN (Corporate Identification Number): U73100KA1998PTC030671. The current CIN is U73100KA1998PLC030671, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U73100KA1998PLC030671 | Current |
| U73100KA1998PTC030671 | Previous |
Contact details
Avesthagen Limited's registered office is in Bengaluru, Karnataka. Its website is avesthagen.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressWework Pavilion 62/63 The Pavilion Church Street, Bengaluru, Karnataka, India – 560001
- IndustryLife Sciences, Biotechnology
To see the full contact details of Avesthagen 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 Avesthagen is professional, scientific and technical. In detail, this covers scientific research and development.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M5 | Scientific research and development |
To see the full business activity and turnover split of Avesthagen Limited, buy the company report.
Financials of Avesthagen Limited
FY 2022 filings availableAvesthagen Limited reported revenue of ₹1.57 Cr (down 52% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 52% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 11%. EBITDA rose 95% 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 | -₹1.71 Cr | ||||
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| Net Profit (PAT) | -₹2.5 Cr | ||||
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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 | -109.3% | ||||
| Net Profit Margin | -159.2% | ||||
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To see the full financial statements and ratios of Avesthagen Limited, buy the company report.
Board of directors of Avesthagen Limited
Avesthagen has 5 current directors and 31 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanaya Zareer Patell | Director | 21 Jan 2008 | 18 Years 9 Months | As last reported |
| Villoo Zareer Morawala Patell | Managing Director | 20 Apr 1998 | 28 Years 6 Months | As last reported |
| Prakash Dattatraya Virkar | Director | 11 Feb 2020 | 6 Years 8 Months | As last reported |
| John Aiken Mckinley | Director | 03 Aug 2019 | 7 Years 2 Months | As last reported |
| Carl M M Dujardin Also directs: Xsysys Technologies Private Limited. | Additional Director | 01 Aug 2025 | 1 Years 2 Months | As last reported |
Peer comparison
Avesthagen Limited is compared with the 3 companies closest to it by revenue in the Biotechnology industry (Biotechnology), with the same principal business activity (scientific research and development), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Leucine Rich Bio Private Limited | ₹1.62 Cr (FY 2024) | 57.0% | Bangalore, Karnataka, India | |||
| Biozone Research Technologies Private Limited | ₹1.6 Cr (FY 2016) | 3.0% | Chennai, Tamil Nadu, India | |||
| Avesthagen Limitedthis company | ₹1.57 Cr (FY 2024) | -₹2.5 Cr | -159.2% | -52.0% | Bengaluru, Karnataka, India | |
| Biopredic Advancells Private Limited | ₹1.51 Cr (FY 2025) | 46.0% | New Delhi, Delhi, India |
To see the full peer comparison of Avesthagen Limited, buy the company report.
Auditor
Avesthagen Limited is audited by KALYANIWALLA & MISTRY LLP for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KALYANIWALLA & MISTRY LLP | FY 2021 | 104607W/W100166 |
Shareholding
The shareholding of Avesthagen Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Avesthagen Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Feb 2023 | 100717129 | Hdfc Bank Limited | ₹20.12 Lakh | Open | |
| 19 Mar 2014 | 10486133 | Biotechnology Industry Research Assistance Council | ₹4.32 Cr | Open | |
| 04 Nov 2010 | 10298624 | Mr. Nadir B Godrej | ₹5 Cr | Open | |
| 29 Mar 2010 | 10251410 | Department of Biotechnology | ₹4 Lakh | Open | |
| 28 Jan 2010 | 10199112 | Department of Biotechnology | ₹20 Lakh | Open |
To see the full charge records of Avesthagen Limited, buy the company report.
Total charge records: 12 View all charges
Deals & funding
Avesthagen Limited has 41 deals on record (25 funding rounds, 15 secondary share transfers, 1 rights issue), with disclosed funding of ₹226.9 Cr; the latest was in March 2022.
Deals on record (5 of 41)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: Saga Chemicals LLP , Others - Avesthagen Limited, Beej Sheetal Research Private Limited Seller: Eternity VMP India, an individual |
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: Others - Avesthagen Limited, an individual Seller: Beej Sheetal Research Private Limited , Jacob Ballas |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: Eternity VMP India, Others - Avesthagen Limited, 2 individuals Seller: Karvy Financial Services Limited , Glg Partners, Eternity Vmp Holdings, an individual |
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: Daninvest Com Sa, ICICI Emerging Sectro Fund, Eternity Vmp Holdings, an individual Seller: Icici Trusteeship Services Limited A/C Icici Emerg, Others - Avesthagen Limited, 2 individuals |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Karvy Financial Services Limited , Others - Avesthagen Limited Seller: Healingcross Pharma Private Limited , MM Activ Sci-Tech Communications Private Limited , 2 individuals |
To see the full deal history of Avesthagen 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
Avesthagen Limited has 216 court cases on record: 30 filed by Avesthagen, 186 filed against it. 34 cases are pending and 182 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 162 | 137 | 28 |
| District courts | 51 | 46 | 4 |
| NCLAT | 2 | 2 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 216)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Court case (OSA) | Filed against the company by Godrej Industries Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.EX.) | Filed against the company by M/S Salcon Mep Services Pvt Ltd | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.Misc.) | Filed by the company against M/S Salcon Mep Services Pvt Ltd | Pending |
| Bombay High Court | Court case (CARBP) | Filed by the company against Karvy Financial Services Limited and Anr | Pending |
| Bombay High Court | Court case (NMCD) | Filed by the company against Karvy Financial Services Limited and Anr | Pending |
To see the full case history of Avesthagen 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 Avesthagen Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Avesthagen Limited has 1 active EPFO establishment as of Apr 04, 2024.
GST
Avesthagen has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCA7217K3ZH | Karnataka | Active | 08 Sep 2017 |
To see the full GST registrations and return filing status of Avesthagen Limited, buy the company report.
Recent activity
Avesthagen Limited has 34 board changes on record since 1998: 5 appointments and 29 cessations. The latest: Carl M M Dujardin was appointed as Additional Director on 01 Aug 2025.
41 earlier events are in the company report.
News
Frequently asked questions
Avesthagen 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.
Avesthagen is a company under insolvency, formerly operating as a public limited company based in Bengaluru, Karnataka, India. The company works in biotechnology, within the life sciences industry. It was incorporated on 20 April 1998 and is registered under CIN U73100KA1998PLC030671. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Avesthagen has 5 current directors:
- Villoo Zareer Morawala Patell - Managing Director
- Sanaya Zareer Patell - Director
- Prakash Dattatraya Virkar - Director
- John Aiken Mckinley - Director
- Carl M M Dujardin - Additional Director
The latest financial statements of Avesthagen on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Avesthagen is U73100KA1998PLC030671. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avesthagen has open charges of ₹100.49 Cr and satisfied charges of ₹13.1 Cr as per latest MCA filings.
Avesthagen has 216 court cases on record: 30 filed by the company and 186 filed against it. 34 are pending. Most are in the high courts.
Avesthagen was incorporated on 20 April 1998. It is registered with the Registrar of Companies, Bangalore.
Avesthagen has 41 deals on record (25 funding rounds, 15 secondary share transfers, 1 rights issue), with disclosed funding of ₹226.9 Cr; the latest was in March 2022.
The peers of Avesthagen by revenue are Leucine Rich Bio Private Limited, Biozone Research Technologies Private Limited, Biopredic Advancells Private Limited, all in the Biotechnology industry (Biotechnology), with the same principal business activity (scientific research and development).
Carl M M Dujardin was appointed as Additional Director on 01 Aug 2025. Ravi Sankar Devarakonda ceased to be Irp/Rp/Liquidator on 15 Jul 2025. Prakash Dattatraya Virkar ceased to be Additional Director on 09 Nov 2020. Avesthagen has 34 board changes on record in total.