About Maharashtra State Road Development Corporation Limited
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Maharashtra State Road Development Corporation Limited is a public limited state government company based in Mumbai, Maharashtra, India. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 02 August 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH1996SGC101586. Its GSTIN is 27AAACM6833C1ZP (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹1,500 Cr and a paid-up capital of ₹773.56 Cr. It is led by directors including Anilkumar Baliram Gaikwad (Managing Director) and Rajesh Bhagwan Patil (Whole-Time Director).
Its last annual general meeting (AGM) was held on 20 August 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Public Works Departmentcompound Nepean Sea Road Priyadarshini Park, Mumbai, Maharashtra, India – 400036.
As per the financials filed for FY 2019, the company reported a revenue of ₹937.22 Cr, a growth of 13% compared to the previous year. For the same year it recorded a net loss of ₹704.32 Cr (net margin -75.1%) and EBITDA of -₹67.71 Cr (EBITDA margin -7.2%). Revenue has grown at a compounded annual rate (CAGR) of 14% over three years and 4% over five years.
Its group structure includes 7 subsidiaries.
As per MCA filings, the company has open charges of ₹90,979 Cr and satisfied charges of ₹12,711 Cr on record. Court records list 984 cases involving the company, including 269 filed by the company and 715 filed against it; 342 cases are pending. The company has 1 deal on record (1 funding round), with disclosed funding of ₹768.56 Cr; the latest was in March 2010.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website msrdc.in.
Company details
CIN history
Maharashtra State Road Development Corporation has one previous CIN (Corporate Identification Number): U45200MH1996PTC101586. The current CIN is U45200MH1996SGC101586, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45200MH1996SGC101586 | Current |
| U45200MH1996PTC101586 | Previous |
Contact details
Maharashtra State Road Development Corporation Limited's registered office is in Mumbai, Maharashtra. Its website is msrdc.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressPublic Works Departmentcompound Nepean Sea Road Priyadarshini Park, Mumbai, Maharashtra, India – 400036
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of Maharashtra State Road Development Corporation 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 Maharashtra State Road Development Corporation is public services by government agencies. In detail, this covers administration relating to executive, legislation and other public service by government agencies.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| O | Public Services by Government agencies | O1 | Administration relating to Executive, Legislation and other public service by government agencies |
To see the full business activity and turnover split of Maharashtra State Road Development Corporation Limited, buy the company report.
Financials of Maharashtra State Road Development Corporation Limited
FY 2019 filings availableMaharashtra State Road Development Corporation Limited reported revenue of ₹937.22 Cr (up 13% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 4% over five years, including 13% growth in the latest year. EBITDA fell 111% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| EBITDA | -₹67.71 Cr | ||||
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| Net Profit (PAT) | -₹704.32 Cr | ||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| Profitability | |||||
| EBITDA Margin | -7.2% | ||||
| Net Profit Margin | -75.1% | ||||
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To see the full financial statements and ratios of Maharashtra State Road Development Corporation Limited, buy the company report.
Board of directors and KMP of Maharashtra State Road Development Corporation Limited
Maharashtra State Road Development Corporation Limited currently reports 8 directors and 1 key managerial person. 57 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shreedhar Gangaram Machha Also directs: Msrdc Navegaon Surjagrah Limited, Msrdc Nagpur Gondia Limited, Msrdc Shaktipeeth Expressway Limited and 4 more | Cfo | 03 Jul 2019 | 7 Years 4 Months | Current |
| Eknath Sambhaji Shinde | Additional Director | 21 Dec 2024 | 1 Years 10 Months | Current |
| Anilkumar Baliram Gaikwad Also directs: Msrdc Multi Model Corridor Limited, Msrdc Navegaon Surjagrah Limited, Msrdc Pune Ring Road Eastern Limited and 5 more | Managing Director | 01 Feb 2018 | 8 Years 9 Months | Current |
| Rajesh Bhagwan Patil Also directs: Msrdc Multi Model Corridor Limited, Msrdc Nagpur Gondia Limited, Msrdc Jalna Nanded Expressway Limited and 5 more | Whole-Time Director | 15 Jan 2024 | 2 Years 9 Months | Current |
| Chandragupta Sitaram Ghag | Director | 07 May 2021 | 5 Years 6 Months | Current |
| Meghana Sakore Deepak | Additional Director | 21 Dec 2024 | 1 Years 10 Months | Current |
Auditor
Maharashtra State Road Development Corporation Limited is audited by GOKHALE & SATHE for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GOKHALE & SATHE | FY 2018 | 103264W |
Shareholding
The shareholding of Maharashtra State Road Development Corporation Limited is on record for 5 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Maharashtra State Road Development Corporation Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Oct 2025 | 101185818 | Others | ₹17,500 Cr | Open | |
| 27 Feb 2025 | 101062934 | Sbicap Trustee Company Limited | ₹13,200 Cr | Open | |
| 20 Feb 2025 | 101061014 | Sbicap Trustee Company Limited | ₹9,000 Cr | Open | |
| 20 Feb 2025 | 101062323 | Sbicap Trustee Company Limited | ₹9,300 Cr | Open | |
| 18 Jan 2023 | 100672197 | Others | ₹543.9 Cr | Open |
To see the full charge records of Maharashtra State Road Development Corporation Limited, buy the company report.
Total charge records: 50 View all charges
Deals & funding
Maharashtra State Road Development Corporation Limited has 1 deal on record (1 funding round), with disclosed funding of ₹768.56 Cr; the latest was in March 2010.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2010 | Funding round | ₹768.56 Cr | Investors: 4 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Maharashtra State Road Development Corporation Limited has 984 court cases on record: 269 filed by Maharashtra State Road Development Corporation, 715 filed against it. 342 cases are pending and 642 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 619 | 440 | 205 |
| District courts | 326 | 243 | 133 |
| Supreme Court | 37 | 30 | 4 |
| NCLAT | 2 | 2 | 0 |
Cases on record (5 of 984)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2001-Environmental Laws : Environment (Protection) Act, 1986, Indian Forest Act, 1927, Wildlife (Protection) Act, 1972, Biological Diversity Act 2002, Coastal Regulation Zone (CRZ), Pollution Laws, Prevention of cruelty to animals, all other Acts, Rules, Regulations dealing with environment, ecology, conservation including environmental clearance) | Filed against the company by Bombay Environmental Action Group | Disposed |
| Supreme Court | Court case (1601-Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605]) | Filed by the company against Assessment Unit, Income Tax Department and 4 others | Disposed |
| Bombay High Court | Writ petition | Filed against the company by M/S. Avmit Homes LLP THR. Its Partner Amit K. Agarwal | Pending |
| District court, Nagpur, Maharashtra | Arbitration matter | Filed against the company by Ms Kumar Housing and Land Development Company Now Known As Ms Kumar Urban Development Private Ltd | Pending |
| District court, Thane, Maharashtra | Court case (Civil M.A.) | Filed against the company by M/S. Merriment Properties Pvt Ltd THR. Authorized Signatory Mr. Sandeep Bagla | Pending |
To see the full case history of Maharashtra State Road Development Corporation 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.
Credit ratings & regulatory alerts
Maharashtra State Road Development Corporation Limited was last rated by Acuite on 21 Jul 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Acuite | 21 Jul 2026 |
To see the full credit ratings and regulatory alerts of Maharashtra State Road Development Corporation Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Maharashtra State Road Development Corporation Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Maharashtra State Road Development Corporation has 7 subsidiary companies. This group structure data is as of FY 2019. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Msrdc Sea Link Limited | U45200MH2018SGC315536 | |
| Thane Creek Bridge Infrastructure Limited | U45209MH2018SGC304423 | |
| Msrdc Infrastructure Projects Limited | U45309MH2016SGC288724 | |
| Nagpur Mumbai Super Communication Expressway Limited | U45309MH2017SGC295599 | |
| Msrdc Tunnels Limited | U45309MH2018SGC314733 | |
| Versova Bandra Sea Link Limited | U45400MH2018SGC308325 |
To see the full group structure of Maharashtra State Road Development Corporation Limited, buy the company report.
GST
Maharashtra State Road Development Corporation has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM6833C1ZP | Maharashtra | Active | 01 Jul 2017 |
| 27AAACM6833C1DY | Maharashtra | Active | 26 Oct 2018 |
To see the full GST registrations and return filing status of Maharashtra State Road Development Corporation Limited, buy the company report.
Recent activity
Maharashtra State Road Development Corporation Limited has 63 board changes on record since 2006: 9 appointments and 54 cessations. The latest: Vaidehi Manoj Ranade ceased to be Additional Director on 08 Mar 2025.
156 earlier events are in the company report.
Frequently asked questions
Maharashtra State Road Development Corporation is an active public limited state government company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 02 August 1996 (30+ years old) and is registered under CIN U45200MH1996SGC101586.
Maharashtra State Road Development Corporation has 9 current directors and KMP:
- Anilkumar Baliram Gaikwad - Managing Director
- Rajesh Bhagwan Patil - Whole-Time Director
- Manuj Jindal - Whole-Time Director
- Eknath Sambhaji Shinde - Additional Director
- Chandragupta Sitaram Ghag - Director
- Meghana Sakore Deepak - Additional Director
- Vaidehi Manoj Ranade - Additional Director
- Shreedhar Gangaram Machha - Cfo
- Prasad Ravikant Sawant - Nodal Officer
The latest financial statements of Maharashtra State Road Development Corporation on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 20 August 2019. Year-wise statements from 2015 are in the company report.
The GSTIN of Maharashtra State Road Development Corporation is 27AAACM6833C1ZP, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 27AAACM6833C1DY (Maharashtra).
The CIN (Corporate Identification Number) of Maharashtra State Road Development Corporation is U45200MH1996SGC101586. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Maharashtra State Road Development Corporation has 984 court cases on record: 269 filed by the company and 715 filed against it. 342 are pending. Most are in the high courts.
Maharashtra State Road Development Corporation was incorporated on 02 August 1996, making it 30+ years old. It is registered with the Registrar of Companies, Mumbai.
Maharashtra State Road Development Corporation has 1 deal on record (1 funding round), with disclosed funding of ₹768.56 Cr; the latest was in March 2010.
Vaidehi Manoj Ranade ceased to be Additional Director on 08 Mar 2025. Eknath Sambhaji Shinde was appointed as Additional Director on 21 Dec 2024. Meghana Sakore Deepak was appointed as Additional Director on 21 Dec 2024. Maharashtra State Road Development Corporation has 63 board changes on record in total.
Maharashtra State Road Development Corporation can be reached through the website msrdc.in. Its registered office is in Mumbai, Maharashtra, India.
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