MSME (Udyam registered) Ministry of MSME
- Udyam number
- UDYAM-GJ-01-0027291
Devarsons Industries Private Limited - chemicals and materials in Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹116.49 Cr
▲ 43% YoY
Net profit · FY 2025
₹33.26 Cr
Net margin 28.5%
EBITDA · FY 2025
₹41 Cr
EBITDA margin 35.2%
Authorised capital
₹4.2 Cr
Registered with MCA
Paid-up capital
₹63.81 Lakh
Issued & subscribed
Open charges
₹5 Lakh
Satisfied ₹3 Cr
Company age
65 yrs
Est. 1961
Employees · EPFO
135
Provident fund records
About Devarsons Industries Private Limited
Data last updated:
Devarsons Industries Private Limited is a private limited company based in Gujarat, India. It operates in the dyes and pigments segment of the chemicals and materials sector. It was incorporated on 01 June 1961 and has been in existence for over 65 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U99999GJ1961PTC001390. Its GSTIN is 24AAACD9671M1Z9 (Gujarat).
The company has an authorised share capital of ₹4.2 Cr and a paid-up capital of ₹63.81 Lakh. It is led by directors including Gaurang Navinchandra Shah and Samir Sureshchandra Shah.
Its last annual general meeting (AGM) was held on 15 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 441 GIDC Ind.Estate Odhav Ahmedabad. 382 415, Gujarat, India.
As per the financials filed for FY 2025, the company reported a revenue of ₹116.49 Cr, a growth of 43% compared to the previous year. For the same year it recorded a net profit of ₹33.26 Cr (net margin 28.5%) and EBITDA of ₹41 Cr (EBITDA margin 35.2%). Revenue has grown at a compounded annual rate (CAGR) of 6% over three years and 9% over five years.
The company has about 135 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Devarsons. As per MCA filings, the company has open charges of ₹5 Lakh and satisfied charges of ₹3 Cr on record. Court records list 17 cases involving the company, including 13 filed by the company and 4 filed against it; 4 cases are pending. The company has 7 deals on record (7 secondary share transfers); the latest was in March 2025. Its 9 peer companies in the Chemicals industry (Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 5 smaller; the largest is Nirchem Dyes & Chemicals Private Limited with revenue of ₹122.53 Cr.
Devarsons Industries Private Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0027291). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website devarsons.com.
Company details
CIN U99999GJ1961PTC001390
Registration Number 001390
Incorporation Date 01 June 1961
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 15 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-GJ-01-0027291
Key People
Gaurang Navinchandra Shah Director Samir Sureshchandra Shah Director Sandeep Ravindra Shah Director Recognitions & Rankings of Devarsons Industries
Contact details
Devarsons Industries Private Limited's registered office is in Gujarat. Its website is devarsons.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address441 GIDC Ind.Estate Odhav Ahmedabad. 382 415, Gujarat, India
- IndustryChemicals and Materials, Dyes & Pigments, Colorants
To see the full contact details of Devarsons Industries Private Limited, buy the company report.
Comprehensive company report
Devarsons Industries 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Devarsons Industries operates one associated brand: Devarsons. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Dye manufacturing and technical services for chemicals in various industries. | devarsons.com |
Business activity
The main business activity of Devarsons Industries 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 Devarsons Industries Private Limited, buy the company report.
Financials of Devarsons Industries Private Limited
FY 2025 filings availableDevarsons Industries Private Limited reported revenue of ₹116.49 Cr (up 43% YoY) for FY 2025.
Revenue · FY 2025
₹116.49 Cr ▲ 43%
Net profit · FY 2025
₹33.26 Cr margin 28.5%
EBITDA · FY 2025
₹41 Cr margin 35.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 43%
3 years · compounded
▲ 6%
5 years · compounded
▲ 9%
EBITDA CAGR growth
1 year
▲ 132%
3 years · compounded
▲ 3%
5 years · compounded
▲ 15%
Revenue has grown at a compounded annual rate (CAGR) of 9% over five years, including 43% growth in the latest year. EBITDA rose 132% 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 | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹41 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹33.26 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 | 35.2% | ||||
| Net Profit Margin | 28.5% | ||||
| 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 Devarsons Industries Private Limited, buy the company report.
Board of directors of Devarsons Industries Private Limited
Devarsons Industries has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Gaurang Navinchandra Shah Also directs: Devarsons Tradein LLP | Director | 22 Sep 1987 | 39 Years 1 Months | Current |
| Samir Sureshchandra Shah Also directs: Devarsons Tradein LLP | Director | 01 Apr 1995 | 31 Years 6 Months | Current |
| Sandeep Ravindra Shah Also directs: Devarsons Tradein LLP | Director | 01 Oct 1996 | 30 Years 0 Months | Current |
Peer comparison
Devarsons Industries Private Limited is compared with the 9 companies closest to it by revenue in the Chemicals industry (Dyes and Pigments), 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 |
|---|---|---|---|---|---|---|
| Nirchem Dyes & Chemicals Private Limited | ₹122.53 Cr (FY 2025) | 21.0% | Mumbai, Maharashtra, India | |||
| Raj Speciality Chemicals Private Limited | ₹122.44 Cr (FY 2025) | -38.0% | Tuticorin, Tamil Nadu, India | |||
| Koel Colours Pvt Ltd | ₹118.85 Cr (FY 2025) | 28.0% | Mumbai, Maharashtra, India | |||
| Jagson Colorchem Limited | ₹117.46 Cr (FY 2025) | -6.0% | Ahmedabad, Gujarat, India | |||
| Devarsons Industries Private Limitedthis company | ₹116.49 Cr (FY 2025) | ₹33.26 Cr | 28.5% | 43.0% | 135 | Gujarat, India |
| Mcfills Enterprises Private Limited | ₹115.8 Cr (FY 2022) | -19.0% | Ahmedabad, Gujarat, India | |||
| CS Fine Interchem Private Limited | ₹112.74 Cr (FY 2025) | 18.0% | Vapi, Gujarat, India | |||
| Hi-Shine Inks Private Limited | ₹110.98 Cr (FY 2025) | -5.0% | Gujarat, India | |||
| Sagar Drugs and Pharmaceuticals Private Limited | ₹110.76 Cr (FY 2025) | 31.0% | Ahmedabad, Gujarat, India | |||
| Unity Organics Pvt Ltd | ₹110.66 Cr (FY 2025) | 18.0% | Chhatral, Gujarat, India |
To see the full peer comparison of Devarsons Industries Private Limited, buy the company report.
Auditor
Devarsons Industries Private Limited is audited by BALAKRISHNA T. THAKKAR & COMPANY for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BALAKRISHNA T. THAKKAR & COMPANY | FY 2024 | 100952W |
Shareholding
The shareholding of Devarsons Industries 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 Devarsons Industries Private Limited, buy the company report.
Charges & borrowings
Open charges
₹5 Lakh
Satisfied charges
₹3 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 Jun 1994 | 90109148 | The Ahmedabad Merecantike Co-Operative Bank Ltd | ₹5 Lakh | Open | |
| 15 Dec 2011 | 10355121 | Citi Bank | ₹3 Cr | Satisfied |
To see the full charge records of Devarsons Industries Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Devarsons Industries Private Limited has 7 deals on record (7 secondary share transfers); the latest was in March 2025.
Total deals
7
Secondary share transfers
7
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2025 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Sep 2024 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Sep 2024 | Secondary share transfer | Undisclosed | Seller: 4 individuals |
| Dec 2019 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 3 individuals |
| Sep 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
To see the full deal history of Devarsons Industries 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
Devarsons Industries Private Limited has 17 court cases on record: 13 filed by Devarsons Industries, 4 filed against it. 4 cases are pending and 13 are disposed.
Total cases
17
Filed by the company
13
Filed against the company
4
Pending
4
Disposed
13
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 9 | 0 | 3 |
| District courts | 8 | 4 | 1 |
Cases on record (5 of 17)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ludhiana, Punjab | Execution petition | Filed by the company against M/S Shiva Texfabs Limited | Disposed |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against M/S Shiva Texfabs Limited | Disposed |
| District court, Panchmahal at Godhra, Gujarat | Court case (EXE R) | Filed by the company against Baroda Agro Chemicals Limited | Disposed |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed by the company against Baroda Agro Chemicals Limited Through Director P. Bhanukrushn | Disposed |
| District court, Ahmedabad, Gujarat | Court case (REFERENCE T LC) | Filed against the company by an individual | Pending |
To see the full case history of Devarsons Industries 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
No delayed payments to MSME suppliers are on our record for Devarsons Industries Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Devarsons Industries Private Limited has a workforce of 135 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
Employee count
135
Active EPFO establishments
1
Employee growth
-7.53%
GST
Devarsons Industries has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACD9671M1Z9 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Devarsons Industries Private Limited, buy the company report.
Recent activity
Devarsons Industries Private Limited has 4 board changes on record since 1987: 3 appointments and 1 cessation. The latest: Navinchandra Ramanlal Shah ceased to be Managing Director on 13 Sep 2014.
AGM
Devarsons Industries Private Limited last Annual general meeting of members was held on 15 Sep 2025 as per latest MCA records.
Filing
Devarsons Industries Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge registered on 15 Dec 2011 via Charge ID 10355121 with Citi Bank was fully satisfied on 18 Jun 2018.
Ceased
Navinchandra Ramanlal Shah ceased to be Managing Director.
Charges
A charge with Citi Bank amounted to Rs. 3.00 Cr with Charge ID 10355121 was registered on 15 Dec 2011.
Appointed
Sandeep Ravindra Shah was appointed as Director.
Appointed
Samir Sureshchandra Shah was appointed as Director.
Charges
A charge with The Ahmedabad Merecantike Co-Operative Bank Ltd amounted to Rs. 0.05 Cr with Charge ID 90109148 was registered on 03 Jun 1994.
Appointed
Gaurang Navinchandra Shah was appointed as Director.
Incorporation
01 Jun 1961
Devarsons Industries Private Limited was registered on 01 Jun 1961 with Roc Ahmedabad & aged 65 years 4 months as per MCA records.
Frequently asked questions
Devarsons Industries is an active private limited company based in Gujarat, India. The company works in dyes and pigments, within the chemicals and materials industry. It was incorporated on 01 June 1961 (65+ years old) and is registered under CIN U99999GJ1961PTC001390.
Devarsons Industries has 3 current directors:
- Gaurang Navinchandra Shah - Director
- Samir Sureshchandra Shah - Director
- Sandeep Ravindra Shah - Director
The latest financial statements of Devarsons Industries on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 15 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Devarsons Industries is 24AAACD9671M1Z9, registered in Gujarat.
The CIN (Corporate Identification Number) of Devarsons Industries is U99999GJ1961PTC001390. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Devarsons Industries has 17 court cases on record: 13 filed by the company and 4 filed against it. 4 are pending. Most are in the high courts.
Devarsons Industries was incorporated on 01 June 1961, making it 65+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Devarsons Industries has 7 deals on record (7 secondary share transfers); the latest was in March 2025.
The peers of Devarsons Industries by revenue are Nirchem Dyes & Chemicals Private Limited, Raj Speciality Chemicals Private Limited, Koel Colours Pvt Ltd, Jagson Colorchem Limited, Mcfills Enterprises Private Limited and 4 more, all in the Chemicals industry (Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Navinchandra Ramanlal Shah ceased to be Managing Director on 13 Sep 2014. Sandeep Ravindra Shah was appointed as Director on 01 Oct 1996. Samir Sureshchandra Shah was appointed as Director on 01 Apr 1995. Devarsons Industries has 4 board changes on record in total.
Yes, Devarsons Industries is registered as an MSME under Udyam registration (number: UDYAM-GJ-01-0027291).