MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2023-24)
- Udyam number
- UDYAM-UP-49-0000026
Bharat Explosives Limited - aerospace, maritime and defense in Lalitpur, Uttar Pradesh, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹36.81 Cr
▼ 13% YoY
Net profit · FY 2025
₹2.28 Cr
Net margin 6.2%
EBITDA · FY 2025
₹1.48 Cr
EBITDA margin 4%
Authorised capital
₹25 Cr
Registered with MCA
Paid-up capital
₹23.64 Cr
Issued & subscribed
Open charges
₹1 Cr
Satisfied ₹16.31 Cr
Company age
64 yrs
Est. 1962
Employees · EPFO
27
Provident fund records
About Bharat Explosives Limited
Data last updated:
Bharat Explosives Limited is a public limited company based in Lalitpur, Uttar Pradesh, India. It operates in the defence tech and equipment segment of the aerospace, maritime and defence sector. It was incorporated on 21 August 1962 and has been in existence for over 64 years.
The company is registered with the Registrar of Companies (ROC), Kanpur, under CIN U65921UP1962PLC002895. Its GSTIN is 09AAACB8495M1ZZ (Uttar Pradesh). The company holds 10 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹23.64 Cr. It is led by directors including Rama Kant Ram (Managing Director) and Anoop Singh Patwal.
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 9 Kmlalitpur Jhansi Road Lalitpur, Uttar Pradesh, India – 284403.
As per the financials filed for FY 2025, the company reported a revenue of ₹36.81 Cr, a decline of 13% compared to the previous year. For the same year it recorded a net profit of ₹2.28 Cr (net margin 6.2%) and EBITDA of ₹1.48 Cr (EBITDA margin 4%). Revenue has grown at a compounded annual rate (CAGR) of 16% over three years and 19% over five years.
The company has about 27 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Bharat Explosives. As per MCA filings, the company has open charges of ₹1 Cr and satisfied charges of ₹16.31 Cr on record. Court records list 37 cases involving the company, including 17 filed by the company and 20 filed against it; 6 cases are pending.
Bharat Explosives Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-UP-49-0000026). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website belindia.co.in.
Company details
CIN U65921UP1962PLC002895
Registration Number 002895
Incorporation Date 21 August 1962
ROC Kanpur
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-UP-49-0000026
CIN history
Bharat Explosives has one previous CIN (Corporate Identification Number): L65921UP1962PLC002895. The current CIN is U65921UP1962PLC002895, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65921UP1962PLC002895 | Current |
| L65921UP1962PLC002895 | Previous |
Key People
Rama Kant Ram Managing Director Anoop Singh Patwal Director Raghu Perandurai Vasudeva Rao Director Recognitions & Rankings of Bharat Explosives
Contact details
Bharat Explosives Limited's registered office is in Lalitpur, Uttar Pradesh. Its website is belindia.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address9 Kmlalitpur Jhansi Road Lalitpur, Uttar Pradesh, India – 284403
- IndustryAerospace, Maritime and Defense, Defence Tech & Equipment
To see the full contact details of Bharat Explosives Limited, buy the company report.
Comprehensive company report
Bharat Explosives 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
Bharat Explosives operates one associated brand: Bharat Explosives. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Produces explosives for defence, mining, and pharma, with facilities in India. | belindia.co.in |
Business activity
The main business activity of Bharat Explosives is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Bharat Explosives Limited, buy the company report.
Financials of Bharat Explosives Limited
FY 2025 filings availableBharat Explosives Limited reported revenue of ₹36.81 Cr (down 13% YoY) for FY 2025.
Revenue · FY 2025
₹36.81 Cr ▼ 13%
Net profit · FY 2025
₹2.28 Cr margin 6.2%
EBITDA · FY 2025
₹1.48 Cr margin 4%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 13%
3 years · compounded
▼ 16%
5 years · compounded
▲ 19%
EBITDA CAGR growth
1 year
▼ 59%
3 years · compounded
▼ 26%
Revenue fell 13% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 19%. EBITDA fell 59% 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 | |||||
| Total Revenue | ₹36.81 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.48 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹2.28 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4% | ||||
| Net Profit Margin | 6.2% | ||||
| 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 Bharat Explosives Limited, buy the company report.
Board of directors of Bharat Explosives Limited
Bharat Explosives has 4 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rama Kant Ram Also directs: General Exports and Credits Ltd, Bharatpur Investment Ltd, Bharatpur Nutritional Products Limited and 5 more | Managing Director | 20 Aug 2006 | 20 Years 2 Months | Current |
| Anoop Singh Patwal Also directs: General Exports and Credits Ltd, Dalmia Finance Limited, India Tele-Comp Limited and 5 more | Director | 01 May 2014 | 12 Years 6 Months | Current |
| Raghu Perandurai Vasudeva Rao | Director | 05 Jun 2023 | 3 Years 5 Months | Current |
| Vinod Kumar Gupta | Director | 12 Jan 2026 | 0 Years 9 Months | Current |
Peer comparison
Bharat Explosives Limited is compared with the 7 companies closest to it by revenue in the Defence industry (Defence Products and Technology, Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Nexus Pharma Chem Private Limited | ₹37.01 Cr (FY 2025) | 17.0% | Ahmedabad, Gujarat, India | |||
| Lexine Technochem Private Limited | ₹36.97 Cr (FY 2025) | 22.0% | Salvli, Gujarat, India | |||
| Mednext Biotech Limited | ₹36.86 Cr (FY 2025) | -32.0% | Udaipur, Rajasthan, India | |||
| Bharat Explosives Limitedthis company | ₹36.81 Cr (FY 2025) | ₹2.28 Cr | 6.2% | -13.0% | 27 | Lalitpur, Uttar Pradesh, India |
| Shukra Pharmaceuticals Limited | ₹36.79 Cr (FY 2025) | -52.0% | Ahmedabad, Gujarat, India | |||
| Gitanjali Chemicals Private Limited | ₹36.72 Cr (FY 2024) | -21.0% | Mumbai, Maharashtra, India | |||
| Anphar Organics Private Limited. | ₹36.7 Cr (FY 2025) | 17.0% | Jammu, Jammu and Kashmir, India | |||
| Balaji Formulations Private Limited | ₹36.59 Cr (FY 2023) | -10.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Bharat Explosives Limited, buy the company report.
Auditor
Bharat Explosives Limited is audited by V I K A S BHATNAGAR & CO. for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V I K A S BHATNAGAR & CO. | FY 2025 | 014442N |
Shareholding
The shareholding of Bharat Explosives Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Bharat Explosives Limited, buy the company report.
Charges & borrowings
Open charges
₹1 Cr
Satisfied charges
₹16.31 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Sep 2007 | 10074984 | State Bank of Mysore | ₹50 Lakh | Open | |
| 26 Feb 2003 | 90275697 | State Bank of Mysore | ₹50 Lakh | Open | |
| 28 Mar 2007 | 10047126 | Sbi Factors and Commercial Services Private Limited | ₹7.18 Cr | Satisfied | |
| 30 Mar 2006 | 80036254 | Lakshmi Vilas Bank Limited | ₹78.74 Lakh | Satisfied | |
| 27 Oct 2003 | 80036255 | Lakshmi Vilas Bank Limited | ₹47.25 Lakh | Satisfied |
To see the full charge records of Bharat Explosives Limited, buy the company report.
Total charge records: 13 View all charges
Legal cases
Bharat Explosives Limited has 37 court cases on record: 17 filed by Bharat Explosives, 20 filed against it. 6 cases are pending and 31 are disposed.
Total cases
37
Filed by the company
17
Filed against the company
20
Pending
6
Disposed
31
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 24 | 13 | 4 |
| District courts | 11 | 7 | 2 |
| Supreme Court | 2 | 0 | 0 |
Cases on record (5 of 37)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, UTTARPRADESH | Court case (FAPLD) | Filed by the company against Dinex India Pvt. Ltd. and 9 others | Pending |
| Bombay High Court | Court case (SS) | Filed against the company by M/S Mohini Organics Private Limited | Disposed |
| High Court | Civil suit | Filed by the company against Coal India Limited & Ors. | Disposed |
| Supreme Court | Court case (2810-Mercantile Laws, Commercial Transactions Including Banking : Bank Guarantee matters) | Filed by the company against M/S Coal India Ltd.. | Disposed |
| Bombay High Court | Court case (SJ) | Filed against the company by New Multifab Engineers Pvt. Ltd. | Disposed |
To see the full case history of Bharat Explosives 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
Bharat Explosives Limited has 2 MSME Form 1 returns on record between 2019 and 2020, listing 8 overdue payments to 6 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 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Samarth Electrocare Private Limited | |||
| Deep Explo Equipments Private Limited | |||
| Vashi Integrated Solutions Limited | |||
| Explopack |
To see the full MSME payment records of Bharat Explosives Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Bharat Explosives Limited has a workforce of 27 employees on its EPFO records as of Sep 23, 2025, across 1 active EPFO establishment.
Employee count
27
Active EPFO establishments
1
Employee growth
22.73%
GST
Bharat Explosives has 10 GST registrations: 4 active and 6 cancelled or inactive.
Total GSTINs
10
Active
4
Cancelled / inactive
6
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 09AAACB8495M1ZZ | Uttar Pradesh | Active | 01 Jul 2017 |
| 07AAACB8495M3Z1 | Delhi | Active | 01 Nov 2017 |
| 27AAACB8495M2Z0 | Maharashtra | Active | 30 Sep 2020 |
| 06AAACB8495M3Z3 | Haryana | Active | 07 Nov 2025 |
To see the full GST registrations and return filing status of Bharat Explosives Limited, buy the company report.
Recent activity
Bharat Explosives Limited has 17 board changes on record since 2006: 4 appointments and 13 cessations. The latest: Vinod Kumar Gupta was appointed as Director on 12 Jan 2026.
Appointed
Vinod Kumar Gupta was appointed as Director.
Charges
A charge registered on 19 Sep 2002 via Charge ID 90275618 with The M.P. State Industrial Development Corp. Ltd. was fully satisfied on 24 Nov 2025.
AGM
Bharat Explosives Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Bharat Explosives Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Kanpur.
Ceased
Raghu Perandurai Vasudeva Rao ceased to be Additional Director.
Ceased
Manish Kumar ceased to be Additional Director.
Appointed
Raghu Perandurai Vasudeva Rao was appointed as Director.
Charges
A charge registered on 28 Mar 2007 via Charge ID 10047126 with Sbi Factors And Commercial Services Private Limited was fully satisfied on 07 Mar 2022.
Charges
A charge registered on 27 Dec 1999 via Charge ID 90275156 with S.B.I. Factors And Commercial Services Pvt. Ltd. was fully satisfied on 07 Mar 2022.
Charges
A charge registered on 30 Mar 2006 via Charge ID 80036254 with Lakshmi Vilas Bank Limited was fully satisfied on 21 Dec 2019.
Charges
A charge registered on 27 Oct 2003 via Charge ID 80036255 with Lakshmi Vilas Bank Limited was fully satisfied on 21 Dec 2019.
Charges
A charge registered on 28 Jan 2002 via Charge ID 90275519 with The Lakshmi Vilas Bank Limited was fully satisfied on 21 Dec 2019.
41 earlier events are in the company report.
Frequently asked questions
Bharat Explosives is an active public limited company based in Lalitpur, Uttar Pradesh, India. The company works in defence tech and equipment, within the aerospace, maritime and defense industry. It was incorporated on 21 August 1962 (64+ years old) and is registered under CIN U65921UP1962PLC002895.
Bharat Explosives has 4 current directors:
- Rama Kant Ram - Managing Director
- Anoop Singh Patwal - Director
- Raghu Perandurai Vasudeva Rao - Director
- Vinod Kumar Gupta - Director
The latest financial statements of Bharat Explosives 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 Bharat Explosives is 09AAACB8495M1ZZ, registered in Uttar Pradesh. The company has 10 GST registrations in all, of which 4 are active and 6 are cancelled or inactive. Other active GSTINs include 07AAACB8495M3Z1 (Delhi), 27AAACB8495M2Z0 (Maharashtra), 06AAACB8495M3Z3 (Haryana).
The CIN (Corporate Identification Number) of Bharat Explosives is U65921UP1962PLC002895. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Bharat Explosives has 37 court cases on record: 17 filed by the company and 20 filed against it. 6 are pending. Most are in the high courts.
Bharat Explosives was incorporated on 21 August 1962, making it 64+ years old. It is registered with the Registrar of Companies, Kanpur.
The peers of Bharat Explosives by revenue are Nexus Pharma Chem Private Limited, Lexine Technochem Private Limited, Mednext Biotech Limited, Shukra Pharmaceuticals Limited, Gitanjali Chemicals Private Limited and 2 more, all in the Defence industry (Defence Products and Technology, Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Vinod Kumar Gupta was appointed as Director on 12 Jan 2026. Raghu Perandurai Vasudeva Rao ceased to be Additional Director on 29 Sep 2023. Manish Kumar ceased to be Additional Director on 01 Aug 2023. Bharat Explosives has 17 board changes on record in total.
Yes, Bharat Explosives is registered as a medium enterprise under Udyam registration (number: UDYAM-UP-49-0000026).
Bharat Explosives has 2 MSME Form 1 returns on record between 2019 and 2020, listing 8 overdue payments to 6 micro and small suppliers. The latest return was filed on 17 Dec 2020.
Bharat Explosives can be reached through the website belindia.co.in. Its registered office is in Lalitpur, Uttar Pradesh, India.
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