Fortune MNC 500 India 2026 edition
Rank#291- Total income
- ₹1,980 Cr
- Profit
- ₹81 Cr
Last year #276
Meritor HVS (India) Limited - automotive in Mysore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹1,989.32 Cr
▼ 5% YoY
Net profit · FY 2025
₹80.89 Cr
Net margin 4.1%
EBITDA · FY 2025
₹111.89 Cr
EBITDA margin 5.6%
Authorised capital
₹3.5 Cr
Registered with MCA
Paid-up capital
₹2.43 Cr
Issued & subscribed
Company age
28 yrs
Est. 1998
Employees · EPFO
69
Provident fund records
Directors on board
5
As per MCA filings
About Meritor HVS (India) Limited
Data last updated:
Meritor HVS (India) Limited is a public limited company based in Mysore, Karnataka, India, a subsidiary of Meritor Vehicle Systems Llc. It operates in the auto parts and components segment of the automotive sector. It was incorporated on 13 February 1998 and has been in existence for over 28 years.
Meritor HVS (India) is ranked #291 on the Fortune MNC 500 India (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U29221KA1998PLC023383. Its GSTIN is 29AABCM8911G1ZD (Karnataka). The company holds 5 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹3.5 Cr and a paid-up capital of ₹2.43 Cr. It is led by directors including Kishan Kumar Udupi (Whole-Time Director) and Kenneth James Hogan.
Its last annual general meeting (AGM) was held on 12 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Hootagalli Indl. Areaoff.Hansur Road Mysore, Karnataka, India – 570018.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,989.32 Cr, a decline of 5% compared to the previous year. For the same year it recorded a net profit of ₹80.89 Cr (net margin 4.1%) and EBITDA of ₹111.89 Cr (EBITDA margin 5.6%). Revenue has grown at a compounded annual rate (CAGR) of 13% over three years and 16% over five years.
The company has about 69 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Meritor and Meritor HVS. Court records list 13 cases involving the company, including 6 filed by the company and 7 filed against it; 6 cases are pending. The company has 1 deal on record (1 secondary share transfer); the latest was in March 2011. The company has 1 MSME Form 1 return on record for the period ending Sep 2019, listing 1 overdue payment to 1 micro and small supplier.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mhvsil.com.
Company details
CIN U29221KA1998PLC023383
Registration Number 023383
Incorporation Date 13 February 1998
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 12 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Meritor Vehicle Systems Llc
Compliance Status Active Compliant
CIN history
Meritor HVS (India) has one previous CIN (Corporate Identification Number): U85110KA1998PLC023383. The current CIN is U29221KA1998PLC023383, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U29221KA1998PLC023383 | Current |
| U85110KA1998PLC023383 | Previous |
Key People
Kishan Kumar Udupi Whole-Time Director Kenneth James Hogan Director Bhoopalam Chandrashekharaiah Prabhakar Director Recognitions & Rankings of Meritor HVS (India)
Contact details
Meritor HVS (India) Limited's registered office is in Mysore, Karnataka. Its website is mhvsil.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressHootagalli Indl. Areaoff.Hansur Road Mysore, Karnataka, India – 570018
- IndustryAutomotive, Auto Parts & Components
To see the full contact details of Meritor HVS (India) Limited, buy the company report.
Comprehensive company report
Meritor HVS (India) 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
Meritor HVS (India) operates two associated brands: Meritor and Meritor HVS. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Transmission and braking components are manufactured for commercial vehicles. | meritor.com | |
| Automotive drivetrain and chassis parts are manufactured, supplied, and exported. | mhvsil.com |
Business activity
The main business activity of Meritor HVS (India) is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Meritor HVS (India) Limited, buy the company report.
Financials of Meritor HVS (India) Limited
FY 2025 filings availableMeritor HVS (India) Limited reported revenue of ₹1,989.32 Cr (down 5% YoY) for FY 2025.
Revenue · FY 2025
₹1,989.32 Cr ▼ 5%
Net profit · FY 2025
₹80.89 Cr margin 4.1%
EBITDA · FY 2025
₹111.89 Cr margin 5.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 5%
3 years · compounded
▲ 13%
5 years · compounded
▲ 16%
EBITDA CAGR growth
1 year
▼ 26%
3 years · compounded
▲ 1%
5 years · compounded
▲ 12%
Revenue fell 5% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 16%. EBITDA fell 26% 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 | ₹111.89 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹80.89 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 | 5.6% | ||||
| Net Profit Margin | 4.1% | ||||
| 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 Meritor HVS (India) Limited, buy the company report.
Board of directors of Meritor HVS (India) Limited
Meritor HVS (India) has 5 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kenneth James Hogan Also directs: Automotive Axles Limited | Director | 14 May 2021 | 5 Years 5 Months | Current |
| Bhoopalam Chandrashekharaiah Prabhakar Also directs: BCP Associates LLP, BC Prabhakar Law Associates LLP, BC Prabhakar Family LLP and 2 more | Director | 05 Aug 2015 | 11 Years 2 Months | Current |
| Babasaheb Neelkanth Kalyani Also directs: Zephyr Engineering and Technology Consultants LLP, Bharat Forge Ltd, Kalyani Steels Ltd and 3 more | Director | 25 Mar 1999 | 27 Years 7 Months | Current |
| Cristina Margarita Burrola Marrufo | Director | 30 Oct 2024 | 2 Years 0 Months | Current |
| Kishan Kumar Udupi | Whole-Time Director | 14 Jun 2024 | 2 Years 4 Months | Current |
Auditor
Meritor HVS (India) Limited is audited by Deloitte Haskins & Sells Chartered Accountants for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells Chartered Accountants | FY 2023 | 008072S |
Shareholding
The shareholding of Meritor HVS (India) 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 Meritor HVS (India) Limited, buy the company report.
Deals & funding
Meritor HVS (India) Limited has 1 deal on record (1 secondary share transfer); the latest was in March 2011.
Total deals
1
Secondary share transfer
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2011 | Secondary share transfer | Undisclosed | Buyer: Babasaheb Kalyani Family Trust Seller: Jalakamal Investment and Finance Ltd. , Bhalchandrai Investment Limited, Mundhwa Investment Ltd |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Meritor HVS (India) Limited has 13 court cases on record: 6 filed by Meritor HVS (India), 7 filed against it. 6 cases are pending and 7 are disposed.
Total cases
13
Filed by the company
6
Filed against the company
7
Pending
6
Disposed
7
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 2 | 2 |
| High courts | 5 | 5 | 4 |
Cases on record (5 of 13)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Appeal | Filed against the company by Friendly Logistics(India) Pvt Ltd | Pending |
| District court, Satna, Madhya Pradesh | Court case (EX B) | Filed by the company against M/S Bhailai Sales and Services | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed against the company by an individual | Pending |
| High Court of Karnataka | Appeal | Filed against the company | Pending |
| District court, MYSURU, Karnataka | Court case (Com.Ex.) | Filed by the company against M/S Bhilai Sales and Services., R/By Its Proprietor Schin Bhalla | Disposed |
To see the full case history of Meritor HVS (India) 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
Meritor HVS (India) Limited has 1 MSME Form 1 return on record for the period ending Sep 2019, listing 1 overdue payment to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier |
To see the full MSME payment records of Meritor HVS (India) Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Meritor HVS (India) Limited has a workforce of 69 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
Employee count
69
Active EPFO establishments
1
Employee growth
2.99%
GST
Meritor HVS (India) has 5 GST registrations: 2 active and 3 cancelled or inactive.
Total GSTINs
5
Active
2
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCM8911G1ZD | Karnataka | Active | 01 Jul 2017 |
| 27AABCM8911G1ZH | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Meritor HVS (India) Limited, buy the company report.
Recent activity
Meritor HVS (India) Limited has 51 board changes on record since 1999: 28 appointments and 23 cessations. The latest: Cristina Margarita Burrola Marrufo was appointed as Director on 30 Oct 2024.
AGM
Meritor Hvs (India) Limited last Annual general meeting of members was held on 12 Aug 2025 as per latest MCA records.
Filing
Meritor Hvs (India) Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Cristina Margarita Burrola Marrufo was appointed as Director.
Ceased
Anjali Akhileshwar Pandey ceased to be Director.
Ceased
Muthukumar Narayanaswamy ceased to be Whole-Time Director.
Appointed
Kishan Kumar Udupi was appointed as Whole-Time Director.
Appointed
Anjali Akhileshwar Pandey was appointed as Director.
Ceased
Shalini Sarin ceased to be Director.
Ceased
Thimmaiah Napanda Poovaiah ceased to be Director.
Ceased
Chrishan Anton Sebastian Villavaranyan ceased to be Director.
Appointed
Kenneth James Hogan was appointed as Director.
Appointed
Muthukumar Narayanaswamy was appointed as Whole-Time Director.
42 earlier events are in the company report.
News
Frequently asked questions
Meritor HVS (India) is an active public limited company based in Mysore, Karnataka, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 13 February 1998 (28+ years old) and is registered under CIN U29221KA1998PLC023383.
Meritor HVS (India) has 5 current directors:
- Kishan Kumar Udupi - Whole-Time Director
- Kenneth James Hogan - Director
- Bhoopalam Chandrashekharaiah Prabhakar - Director
- Babasaheb Neelkanth Kalyani - Director
- Cristina Margarita Burrola Marrufo - Director
The latest financial statements of Meritor HVS (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 12 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Meritor HVS (India) is 29AABCM8911G1ZD, registered in Karnataka. The company has 5 GST registrations in all, of which 2 are active and 3 are cancelled or inactive. Other active GSTINs include 27AABCM8911G1ZH (Maharashtra).
The CIN (Corporate Identification Number) of Meritor HVS (India) is U29221KA1998PLC023383. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Meritor HVS (India) has 13 court cases on record: 6 filed by the company and 7 filed against it. 6 are pending. Most are in the district courts.
Meritor HVS (India) was incorporated on 13 February 1998, making it 28+ years old. It is registered with the Registrar of Companies, Bangalore.
Meritor HVS (India) has 1 deal on record (1 secondary share transfer); the latest was in March 2011.
Cristina Margarita Burrola Marrufo was appointed as Director on 30 Oct 2024. Anjali Akhileshwar Pandey ceased to be Director on 03 Sep 2024. Muthukumar Narayanaswamy ceased to be Whole-Time Director on 15 Jun 2024. Meritor HVS (India) has 51 board changes on record in total.
Meritor HVS (India) has 1 MSME Form 1 return on record for the period ending Sep 2019, listing 1 overdue payment to 1 micro and small supplier. The latest return was filed on 30 Oct 2019.
Meritor HVS (India) can be reached through the website mhvsil.com. Its registered office is in Mysore, Karnataka, India.