About Marshall Machines Limited
Data last updated:
Marshall Machines Limited is a public limited company based in Ludhiana, Punjab, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the process machinery and industrial equipment segment of the machinery and industrial equipment sector. It was incorporated on 23 May 1994.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN L29299PB1994PLC014605. Its GSTIN is 03AADCM1377N1ZC (Punjab). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on NSE: MARSHALL.
The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹23.9 Cr. It was formerly known as Marshall Machines Private Limited and V. B. Spinning Mills Private Limited. It is led by directors including Gaurav Sarup (Managing Director) and Prashant Sarup (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at C 86 Phase V Focal Point, Ludhiana, Punjab, India.
As per the financials filed for FY 2023, the company reported a revenue of ₹37 Cr, a decline of 39% compared to the previous year. For the same year it recorded a net loss of ₹6.9 Cr (net margin -18.6%) and EBITDA of ₹1.09 Cr (EBITDA margin 3%). Revenue has declined at a compounded annual rate (CAGR) of 15% over three years and 9% over five years.
The company has about 76 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Marshall Machines. As per MCA filings, the company has open charges of ₹53.39 Cr and satisfied charges of ₹58.31 Cr on record. Court records list 141 cases involving the company, including 25 filed by the company and 117 filed against it; 59 cases are pending. The company has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025. Its 5 peer companies in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 2 larger and 3 smaller; the largest is Eifco Machine Tools Private Limited with revenue of ₹38.04 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2024, listing 152 overdue payments to 35 micro and small suppliers.
The last known website on record is marshallcnc.com.
Company details
Name history
Marshall Machines has undergone 2 name changes throughout its history. The company was previously known as Marshall Machines Private Limited, and V. B. Spinning Mills Private Limited. The current legal name is Marshall Machines Limited.
| Company Name | Status |
|---|---|
| Marshall Machines Limited | Current |
| Marshall Machines Private Limited | Previous |
| V. B. Spinning Mills Private Limited | Previous |
CIN history
Marshall Machines has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L29299PB1994PLC014605, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L29299PB1994PLC014605 | Current |
| U29299PB1994PTC014605 | Previous |
| U29299PB1994PLC014605 | Previous |
Contact details
Marshall Machines Limited's registered office is in Ludhiana, Punjab. Its website is marshallcnc.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressC 86 Phase V Focal Point, Ludhiana, Punjab, India
- IndustryMachinery and Equipment, Process Machinery & Industrial Equipment
To see the full contact details of Marshall Machines 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
Marshall Machines operates one associated brand: Marshall Machines. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| High-precision CNC turning centers and machining solutions are manufactured. | marshallcnc.com |
Business activity
The main business activities of Marshall Machines are manufacturing and trade. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and retail trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Marshall Machines Limited, buy the company report.
Financials of Marshall Machines Limited
FY 2023 filings availableMarshall Machines Limited reported revenue of ₹37 Cr (down 39% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 9% over five years, including a 39% fall in the latest year. EBITDA fell 84% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹37 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.09 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹6.9 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3% | ||||
| Net Profit Margin | -18.6% | ||||
| 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 Marshall Machines Limited, buy the company report.
Board of directors of Marshall Machines Limited
Marshall Machines has 3 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Prashant Sarup | Whole-Time Director | 28 Feb 2002 | 24 Years 7 Months | As last reported |
| Siddhant Sarup | Whole-Time Director | 29 Mar 2017 | 9 Years 6 Months | As last reported |
| Gaurav Sarup | Managing Director | 11 Mar 2002 | 24 Years 7 Months | As last reported |
Peer comparison
Marshall Machines Limited is compared with the 5 companies closest to it by revenue in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Eifco Machine Tools Private Limited | ₹38.04 Cr (FY 2025) | 23.0% | Coimbatore, Tamil Nadu, India | |||
| Sahil Alloys and Machine Tools Private Limited | ₹37.8 Cr (FY 2017) | 178.0% | Ludhiana, Punjab, India | |||
| Marshall Machines Limitedthis company | ₹37 Cr (FY 2023) | -₹6.9 Cr | -18.6% | -39.0% | 76 | Ludhiana, Punjab, India |
| Geeta Machine Tools Private Limited | ₹36.84 Cr (FY 2025) | 98.0% | Jamnagar, Gujarat, India | |||
| Airpack Compressor Teknologies Private Limited | ₹36.76 Cr (FY 2025) | 9.0% | New Delhi, Delhi, India | |||
| Onse Machine Tools Private Limited | ₹36.07 Cr (FY 2024) | 42.0% | Faridabad, Haryana, India |
To see the full peer comparison of Marshall Machines Limited, buy the company report.
Auditor
Marshall Machines Limited is audited by S. SOOD & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. SOOD & CO. | FY 2023 | 010801N |
Shareholding
The shareholding of Marshall Machines 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 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 Marshall Machines Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Oct 2023 | 100817399 | Others | ₹3.9 Cr | Open | |
| 26 Mar 2021 | 100438678 | Tata Capital Financial Services Limited | ₹60 Lakh | Open | |
| 25 Aug 2020 | 100362632 | Sidbi | ₹58.89 Lakh | Open | |
| 24 Jul 2020 | 100368087 | Tata Capital Financial Services Limited | ₹75 Lakh | Open | |
| 24 Jul 2019 | 100277756 | Sidbi | ₹3 Cr | Open |
To see the full charge records of Marshall Machines Limited, buy the company report.
Total charge records: 34 View all charges
Deals & funding
Marshall Machines Limited has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025.
Deals on record (5 of 66)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2024 | Market trade | ₹51.3 Lakh | Buyer: Qe Securities LLP Seller: Qe Securities LLP |
| Sep 2024 | Market trade | ₹1.14 Cr | Buyer: Qe Securities LLP , Kabeelon Sales Corp Seller: Qe Securities LLP , Kabeelon Sales Corp |
| Sep 2024 | Market trade | ₹2.71 Cr | Buyer: Elan Ventures Private Limited , Qe Securities LLP , Magpro Securities Private Limited Seller: Elan Ventures Private Limited , Qe Securities LLP , Mahevarsh Fincon Private Limited |
| Sep 2024 | Market trade | ₹3.36 Cr | Buyer: Elan Ventures Private Limited , Mahevarsh Fincon Private Limited , an individual Seller: Elan Ventures Private Limited , Mahevarsh Fincon Private Limited , an individual |
| Sep 2024 | Market trade | ₹55 Lakh | Buyer: Liesha Corporation Private Limited Seller: Liesha Corporation Private Limited |
To see the full deal history of Marshall Machines 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
Marshall Machines Limited has 141 court cases on record: 25 filed by Marshall Machines, 117 filed against it. 59 cases are pending and 82 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 114 | 98 | 58 |
| High courts | 15 | 11 | 1 |
| NCLAT | 8 | 4 | 0 |
| NCLT | 4 | 4 | 0 |
Cases on record (5 of 141)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Aurangabad, Maharashtra | Civil suit | Filed against the company by Varroc Engineering Limited Through Its Authorized Signatory Ms Ruchita Zalte | Pending |
| District court, New Delhi, Delhi | Court case (OMP (MISC.) (COMM.)) | Filed against the company by Tata Capital Limited and 1 other | Pending |
| District court, New Delhi, Delhi | Cheque dishonour complaint | Filed against the company by Siemens Financial Services Pvt Ltd | Pending |
| District court, Nashik, Maharashtra | Civil suit | Filed against the company by Epitrans Switchgear Private Limited Through Its Authorized Signatory Sachin Nikam | Pending |
| District court, New Delhi, Delhi | Cheque dishonour complaint | Filed against the company by Moneywise Financial Services Pvt Ltd | Pending |
To see the full case history of Marshall Machines 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
Marshall Machines Limited has 9 MSME Form 1 returns on record between 2019 and 2024, listing 152 overdue payments to 35 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 35)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Litratim Micro Specialities Pvt Ltd | |||
| an individual supplier |
To see the full MSME payment records of Marshall Machines Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Marshall Machines Limited has a workforce of 76 employees on its EPFO records as of Oct 09, 2025, across 2 active EPFO establishments.
GST
Marshall Machines has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AADCM1377N1ZC | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Marshall Machines Limited, buy the company report.
Recent activity
Marshall Machines Limited has 27 board changes on record since 2002: 15 appointments and 12 cessations. The latest: Archana Sarup ceased to be Whole-Time Director on 11 Jul 2025.
79 earlier events are in the company report.
News
Frequently asked questions
Marshall Machines is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Marshall Machines is a company under insolvency, formerly operating as a public limited company based in Ludhiana, Punjab, India. The company works in process machinery and industrial equipment, within the machinery and equipment industry. It was incorporated on 23 May 1994 and is registered under CIN L29299PB1994PLC014605. Listed on NSE: MARSHALL. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Marshall Machines has 3 current directors:
- Gaurav Sarup - Managing Director
- Prashant Sarup - Whole-Time Director
- Siddhant Sarup - Whole-Time Director
The latest financial statements of Marshall Machines on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 29 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Marshall Machines is L29299PB1994PLC014605. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Marshall Machines is a listed company as per MCA records. Its shares are listed on NSE (symbol: MARSHALL).
Marshall Machines has open charges of ₹53.39 Cr and satisfied charges of ₹58.31 Cr as per latest MCA filings.
Marshall Machines has 141 court cases on record: 25 filed by the company and 117 filed against it. 59 are pending. Most are in the district courts.
Marshall Machines was incorporated on 23 May 1994. It is registered with the Registrar of Companies, Chandigarh.
Marshall Machines has 66 deals on record (65 market trades, 1 ipo); the latest was in November 2025.
The peers of Marshall Machines by revenue are Eifco Machine Tools Private Limited, Sahil Alloys and Machine Tools Private Limited, Geeta Machine Tools Private Limited, Airpack Compressor Teknologies Private Limited, Onse Machine Tools Private Limited, all in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Archana Sarup ceased to be Whole-Time Director on 11 Jul 2025. Satvinder Singh ceased to be Director on 11 Jul 2025. Surinder Bir Singh ceased to be Director on 11 Jul 2025. Marshall Machines has 27 board changes on record in total.