About Ind Swift Limited
Data last updated:
Ind Swift Limited was a public limited company based in Chandigarh, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 06 June 1986.
The company was registered with the Registrar of Companies (ROC), Chandigarh, under CIN L24230CH1986PLC006897. Its GSTIN is 04AAACI6100L1ZY (Chandigarh). The company held 32 GST registrations, of which 16 are active. It is recorded as listed by MCA, but its shares were delisted from BSE on 16 Jan 2026 · merger, and no longer trade on a stock exchange.
The company had an authorised share capital of ₹40 Cr and a paid-up capital of ₹25.03 Cr. It was led by directors including Gopal Munjal (Managing Director) and Sanjeev Rai Mehta (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at 781 Industrial Area Phase II, Chandigarh, India – 160002.
As per the financials filed for FY 2024, the company reported a revenue of ₹560.24 Cr, a growth of 33% compared to the previous year. For the same year it recorded a net profit of ₹14.23 Cr (net margin 2.5%) and EBITDA of ₹106.51 Cr (EBITDA margin 19%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 14% over five years.
The company had about 1,124 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Ind-Swift. As per MCA filings, the company had open charges of ₹818.22 Cr and satisfied charges of ₹6,337.79 Cr on record. Court records list 1,265 cases involving the company, including 618 filed by the company and 648 filed against it; 109 cases are pending. The company has 58 deals on record (57 market trades, 1 acquisition); the latest was in June 2025. Its 8 peer companies in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 4 smaller; the largest is Malik Lifesciences Private Limited with revenue of ₹595.52 Cr.
The last known website on record is indswiftltd.com.
Company details
CIN history
Ind Swift has one previous CIN (Corporate Identification Number): U24230CH1986PLC006897. The current CIN is L24230CH1986PLC006897, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L24230CH1986PLC006897 | Current |
| U24230CH1986PLC006897 | Previous |
Contact details
Ind Swift Limited's registered office is in Chandigarh, Chandigarh. Its website is indswiftltd.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address781 Industrial Area Phase II, Chandigarh, India – 160002
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Ind Swift 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
Brands
Ind Swift operates one associated brand: Ind-Swift. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Pharmaceutical products, APIs, and herbal formulations are manufactured. | indswiftltd.com |
Business activity
The main business activity of Ind Swift 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 Ind Swift Limited, buy the company report.
Financials of Ind Swift Limited
FY 2024 filings availableInd Swift Limited reported revenue of ₹560.24 Cr (up 33% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 14% over five years, including 33% growth in the latest year. EBITDA fell 7% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹560.24 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹106.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹14.23 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 19% | ||||
| Net Profit Margin | 2.5% | ||||
| 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 Ind Swift Limited, buy the company report.
Board of directors of Ind Swift Limited
Ind Swift has 12 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rishav Mehta | Additional Director | 23 Mar 2010 | 16 Years 7 Months | As last reported |
| Himanshu Jain | Director | 31 Jul 2003 | 23 Years 2 Months | As last reported |
| Navrattan Munjal Also directs: Ind Swift Laboratories Limited, MJM Remedies Private Limited, Essix Biosciences Limited and 2 more | Director | 11 Dec 2006 | 19 Years 10 Months | As last reported |
| Jagvir Singh Ahluwalia Also directs: MSD Labs Private Limited | Director | 29 Aug 2017 | 9 Years 1 Months | As last reported |
| Sanjeev Rai Mehta | Whole-Time Director | 30 Nov 2006 | 19 Years 10 Months | As last reported |
| Vikrant Rai Mehta | Whole-Time Director | 30 Sep 1993 | 33 Years 0 Months | As last reported |
Peer comparison
Ind Swift Limited is compared with the 8 companies closest to it by revenue in the Pharma industry (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 |
|---|---|---|---|---|---|---|
| Malik Lifesciences Private Limited | ₹595.52 Cr (FY 2025) | 11.0% | Delhi, India | |||
| Acme Formulation Private Limited | ₹577 Cr (FY 2025) | -2.0% | Himachal Pradesh, India | |||
| Bajaj Healthcare Limited | ₹562.01 Cr (FY 2025) | 17.0% | Thane, Maharashtra, India | |||
| G S Pharmbutor Private Limited | ₹561.56 Cr (FY 2025) | 6.0% | Rudrapur, Uttarakhand, India | |||
| Ind Swift Limitedthis company | ₹560.24 Cr (FY 2024) | ₹14.23 Cr | 2.5% | 33.0% | 1,124 | Chandigarh, India |
| Shalina Laboratories Private Limited | ₹551.12 Cr (FY 2023) | -1.0% | Mumbai, Maharashtra, India | |||
| German Remedies Pharmaceuticals Private Limited | ₹546.98 Cr (FY 2025) | 9.0% | Ahmedabad, Gujarat, India | |||
| Graviti Pharmaceuticals Private Limited | ₹543.75 Cr (FY 2025) | 17.0% | Hyderabad, Telangana, India | |||
| Kusum Healthcare Private Limited | ₹537.89 Cr (FY 2025) | 10.0% | New Delhi, Delhi, India |
To see the full peer comparison of Ind Swift Limited, buy the company report.
Auditor
Ind Swift Limited is audited by Jain & Associates for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Jain & Associates | FY 2024 | 001361N |
Shareholding
The shareholding of Ind Swift 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 Ind Swift Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Oct 2020 | 100399161 | Axis Bank Limited | ₹1.1 Cr | Satisfied | |
| 07 Oct 2020 | 100378264 | Axis Bank Limited | ₹1.5 Cr | Satisfied | |
| 30 Sep 2019 | 100294145 | Axis Bank Limited | ₹10.7 Cr | Satisfied | |
| 28 Mar 2013 | 10421176 | Others | ₹1,002.87 Cr | Satisfied | |
| 29 Jan 2013 | 10403081 | Others | ₹976.86 Cr | Satisfied |
To see the full charge records of Ind Swift Limited, buy the company report.
Total charge records: 78 View all charges
Deals & funding
Ind Swift Limited has 58 deals on record (57 market trades, 1 acquisition); the latest was in June 2025.
Deals on record (5 of 58)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2021 | Acquisition | ₹60 Cr | Buyer: Ang Lifesciences India Limited Seller: Ind Swift Limited |
| Aug 2021 | Market trade | ₹29.8 Lakh | Seller: Altruistic Trading Private Limited |
| Nov 2006 | Market trade | ₹2.28 Cr | Buyer: an individual Seller: Samradha Finstock Private Limited , an individual |
| Jun 2006 | Market trade | ₹74.6 Lakh | Buyer: Goldman Sachs And Company Seller: Speedway Trading Private Limited |
| May 2006 | Market trade | ₹1 Cr | Buyer: Simcorp Fund Limited |
To see the full deal history of Ind Swift 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
Ind Swift Limited has 1,265 court cases on record: 618 filed by Ind Swift, 648 filed against it. 109 cases are pending and 1,156 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1,062 | 540 | 83 |
| High courts | 172 | 87 | 24 |
| Supreme Court | 25 | 15 | 2 |
| NCLT | 6 | 6 | 0 |
Cases on record (5 of 1,265)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Chandigarh | Execution petition | Filed against the company by Daga Polylaminators Private Limited | Pending |
| District court, Chandigarh | Appeal | Filed by the company against Bihar Medical Services and Infrastructure Corporation Limited and 2 others | Pending |
| District court, Chandigarh | Arbitration matter | Filed against the company by M/S Ind-Swift Laboratories Limited | Disposed |
| High Court, HARYANA | Arbitration matter | Filed against the company by Pi Industries Limited Rohit Khanna and 1 other | Disposed |
| District court, Solan, Himachal Pradesh | Civil miscellaneous application | Filed by the company against Elder Laboratories Limited | Disposed |
To see the full case history of Ind Swift 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 Ind Swift Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Ind Swift Limited has a workforce of 1,124 employees on its EPFO records as of Oct 08, 2025, across 6 active EPFO establishments.
GST
Ind Swift has 32 GST registrations: 16 active and 16 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 04AAACI6100L1ZY | Chandigarh | Active | 01 Jul 2017 |
| 04AAACI6100L2ZX | Chandigarh | Active | 10 Jul 2017 |
| 04AAACI6100L4ZV | Chandigarh | Active | 22 Feb 2019 |
| 02AAACI6100L2Z1 | Himachal Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ind Swift Limited, buy the company report.
Recent activity
Ind Swift Limited has 48 board changes on record since 1986: 30 appointments and 18 cessations. The latest: Prabhat Khurana was appointed as Director on 01 Apr 2024.
235 earlier events are in the company report.
News
Frequently asked questions
Ind Swift has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Ind Swift was a public limited company based in Chandigarh, India. The company worked in drug formulation and development, within the pharma industry. It was incorporated on 06 June 1986 and is registered under CIN L24230CH1986PLC006897. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Ind Swift was incorporated on 06 June 1986. It is registered with the Registrar of Companies, Chandigarh.
Ind Swift had 12 directors:
- Gopal Munjal - Managing Director
- Sanjeev Rai Mehta - Whole-Time Director
- Vikrant Rai Mehta - Whole-Time Director
- Rishav Mehta - Additional Director
- Himanshu Jain - Director
- Navrattan Munjal - Director
- Jagvir Singh Ahluwalia - Director
- Subhash Chander Galhotra - Director
- Anoop Michra - Director
- Bhupinder Singh - Director
- Subodh Gupta - Director
- Prabhat Khurana - Director
The CIN (Corporate Identification Number) of Ind Swift is L24230CH1986PLC006897. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ind Swift is recorded as a listed company by MCA, but its shares were delisted from BSE on 16 Jan 2026 · merger, and no longer trade on a stock exchange.
The registered office of Ind Swift is at 781 Industrial Area Phase II, Chandigarh, India – 160002.
Ind Swift can be reached through the website indswiftltd.com. Its registered office is in Chandigarh, India.
The latest financial statements of Ind Swift on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Ind Swift is 04AAACI6100L1ZY, registered in Chandigarh. The company has 32 GST registrations in all, of which 16 are active and 16 are cancelled or inactive. Other active GSTINs include 04AAACI6100L2ZX (Chandigarh), 04AAACI6100L4ZV (Chandigarh), 02AAACI6100L2Z1 (Himachal Pradesh).
Ind Swift operated in the pharma industry, in the drug formulation and development segment.