Ind Synergy Limited
About Ind Synergy Limited
Data last updated:
Ind Synergy Limited is a public limited company based in Raigarh, Chhattisgarh, India. It operates in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 28 March 1985 and has been in existence for over 41 years.
The company is registered with the Registrar of Companies (ROC), Chhattisgarh, under CIN U15143CT1985PLC002806. Its GSTIN is 22AAACI7072D1Z0 (Chhattisgarh). The company holds 8 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹55 Cr and a paid-up capital of ₹31.04 Cr. It was formerly known as Goel Agro-Forestry and Finance Pvt Ltd. It is led by directors including Shrawan Kumar Agrawal (Whole-Time Director) and Anup Bansal.
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 is at Village Kotmar (Mahuapali) Gharghora Road, Raigarh, Chhattisgarh, India – 496001.
As per the financials filed for FY 2025, the company reported a revenue of ₹784.84 Cr, a decline of 31% compared to the previous year. For the same year it recorded a net profit of ₹44.78 Cr (net margin 5.7%) and EBITDA of ₹104.96 Cr (EBITDA margin 13.4%).
The company has about 916 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹676.31 Cr and satisfied charges of ₹2,604.1 Cr on record. Court records list 371 cases involving the company, including 183 filed by the company and 188 filed against it; 21 cases are pending. The company has 3 deals on record (3 funding rounds), with disclosed funding of ₹18.19 Cr; the latest was in March 2008. Its 9 peer companies in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products) are compared by revenue, 4 larger and 5 smaller; the largest is Mahamaya Steel Industries Limited with revenue of ₹803 Cr.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Ind Synergy Limited's registered office is in Raigarh, Chhattisgarh. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressVillage Kotmar (Mahuapali) Gharghora Road, Raigarh, Chhattisgarh, India – 496001
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Ind Synergy 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 Ind Synergy is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Ind Synergy Limited, buy the company report.
Financials of Ind Synergy Limited
FY 2024 filings availableInd Synergy Limited reported revenue of ₹784.84 Cr (down 31% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 31% in the latest year. EBITDA rose 11% in the latest 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 |
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| EBITDA | ₹104.96 Cr | ||||
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| Net Profit (PAT) | ₹44.78 Cr | ||||
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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 | 13.4% | ||||
| Net Profit Margin | 5.7% | ||||
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To see the full financial statements and ratios of Ind Synergy Limited, buy the company report.
Board of directors of Ind Synergy Limited
Ind Synergy has 5 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anup Bansal Also directs: Ind Infrastructure Private Limited, Ind Steel & Power Private Limited, Ind Power Limited and 5 more | Director | 18 Sep 2023 | 3 Years 1 Months | Current |
| Ghanshyam Dalmia | Director | 10 Apr 2018 | 8 Years 6 Months | Current |
| Shrawan Kumar Agrawal Also directs: Ind Infrastructure Private Limited, Ind Steel & Power Private Limited, Ind Power Limited and 5 more | Whole-Time Director | 10 Apr 2018 | 8 Years 6 Months | Current |
| Netrananda Thatoi | Director | 15 Oct 2024 | 2 Years 0 Months | Current |
| Megha Agrawal | Director | 25 Nov 2022 | 3 Years 11 Months | Current |
Peer comparison
Ind Synergy Limited is compared with the 9 companies closest to it by revenue in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mahamaya Steel Industries Limited | ₹803 Cr (FY 2025) | 2.0% | Raipur, Chhattisgarh, India | |||
| Mahendra Sponge and Power Limited | ₹801.07 Cr (FY 2024) | -14.0% | Raipur, Chhattisgarh, India | |||
| Scan Steels Limited | ₹793.81 Cr (FY 2025) | -18.0% | Mumbai, Maharashtra, India | |||
| Manaksia Coated Metals & Industries Limited | ₹790.87 Cr (FY 2025) | 6.0% | Kolkata, West Bengal, India | |||
| Ind Synergy Limitedthis company | ₹784.84 Cr (FY 2025) | ₹44.78 Cr | 5.7% | -31.0% | 916 | Raigarh, Chhattisgarh, India |
| Arya Iron and Steel Company Private Limited | ₹781.97 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| Saluja Steel and Power Private Limited | ₹781.3 Cr (FY 2025) | 34.0% | Jharkhand, India | |||
| Atibir Industries Company Limited | ₹772.7 Cr (FY 2025) | 2.0% | Kolkata, West Bengal, India | |||
| Balmukund Concast Private Limited | ₹770.99 Cr (FY 2023) | 43.0% | Kolkata, West Bengal, India | |||
| Mongia Steel Limited | ₹767.85 Cr (FY 2025) | 1.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Ind Synergy Limited, buy the company report.
Auditor
Ind Synergy Limited is audited by APAS & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| APAS & CO LLP | FY 2023 | 000340C |
Shareholding
The shareholding of Ind Synergy Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ind Synergy Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Sep 2025 | 101156069 | Indian Bank | ₹49.83 Cr | Open | |
| 22 Jul 2025 | 101138976 | Others | ₹35 Cr | Open | |
| 25 Feb 2025 | 101060805 | Hdfc Bank Limited | ₹2.97 Cr | Open | |
| 12 Mar 2024 | 100890470 | Canara Bank | ₹392.81 Cr | Open | |
| 02 Feb 2024 | 100862838 | Hdfc Bank Limited | ₹76 Cr | Open |
To see the full charge records of Ind Synergy Limited, buy the company report.
Total charge records: 101 View all charges
Deals & funding
Ind Synergy Limited has 3 deals on record (3 funding rounds), with disclosed funding of ₹18.19 Cr; the latest was in March 2008.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2008 | Funding round | ₹80,000 | Investors: Altico Capital India |
| Aug 2006 | Funding round | ₹9 Cr | Investors: Upkar Merchants Private Limited, Rays and Arrows Finance and Investments Private Limited , Bhoothnath Commercial Private Limited |
| Mar 2006 | Funding round | ₹9.18 Cr | Investors: Ind Power Limited , an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ind Synergy Limited has 371 court cases on record: 183 filed by Ind Synergy, 188 filed against it. 21 cases are pending and 350 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 185 | 82 | 14 |
| District courts | 168 | 95 | 4 |
| Supreme Court | 18 | 11 | 3 |
Cases on record (5 of 371)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Nagpur, Maharashtra | Civil suit | Filed against the company by Sgepl Infrastructure Pvt Ltd | Pending |
| Calcutta High Court | Court case (CS-COM) | Filed against the company by RSD Asphalts Private Limited | Pending |
| High Court, CHHATTISGARH | Writ petition | Filed by the company against Mahanadi Coalfields Ltd. and 5 others | Pending |
| Supreme Court | Court case (1101-Arbitration Matters : Arbitration Petitions under Section 11 of Arbitration & Conciliation Act, 1996) | Filed against the company by Sgepl Infrastructure Pvt. Ltd. | Disposed |
| High Court, TELANGANA | Appeal | Filed against the company by NMDC Limited | Disposed |
To see the full case history of Ind Synergy 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 Synergy Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Ind Synergy has 1 joint venture. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
Employees & EPFO
Ind Synergy Limited has a workforce of 916 employees on its EPFO records as of Apr 05, 2024, across 2 active EPFO establishments.
GST
Ind Synergy has 8 GST registrations: 1 active and 7 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 22AAACI7072D1Z0 | Chhattisgarh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ind Synergy Limited, buy the company report.
Recent activity
Ind Synergy Limited has 27 board changes on record since 2007: 5 appointments and 22 cessations. The latest: Netrananda Thatoi was appointed as Director on 15 Oct 2024.
264 earlier events are in the company report.
Frequently asked questions
Ind Synergy is an active public limited company based in Raigarh, Chhattisgarh, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 28 March 1985 (41+ years old) and is registered under CIN U15143CT1985PLC002806.
Ind Synergy has 5 current directors:
- Shrawan Kumar Agrawal - Whole-Time Director
- Anup Bansal - Director
- Ghanshyam Dalmia - Director
- Netrananda Thatoi - Director
- Megha Agrawal - Director
The latest financial statements of Ind Synergy 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 Synergy is 22AAACI7072D1Z0, registered in Chhattisgarh. The company has 8 GST registrations in all, of which 1 is active and 7 are cancelled or inactive.
The CIN (Corporate Identification Number) of Ind Synergy is U15143CT1985PLC002806. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ind Synergy has 371 court cases on record: 183 filed by the company and 188 filed against it. 21 are pending. Most are in the high courts.
Ind Synergy was incorporated on 28 March 1985, making it 41+ years old. It is registered with the Registrar of Companies, Chhattisgarh.
Ind Synergy has 3 deals on record (3 funding rounds), with disclosed funding of ₹18.19 Cr; the latest was in March 2008.
The peers of Ind Synergy by revenue are Mahamaya Steel Industries Limited, Mahendra Sponge and Power Limited, Scan Steels Limited, Manaksia Coated Metals & Industries Limited, Arya Iron and Steel Company Private Limited and 4 more, all in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products).
Netrananda Thatoi was appointed as Director on 15 Oct 2024. Shashi Bhushan Choudhary ceased to be Director on 30 Mar 2024. Anup Bansal was appointed as Director on 18 Sep 2023. Ind Synergy has 27 board changes on record in total.
The registered office of Ind Synergy is at Village Kotmar Mahuapali Gharghora Road, Raigarh, Chhattisgarh, India – 496001.