About MSPL Limited
Data last updated:
MSPL Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 18 October 1961 and has been in existence for over 65 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U13100MH1961PLC012160. Its GSTIN is 27AABCM1040N1ZK (Maharashtra). The company holds 15 GST registrations, of which 8 are active.
The company has an authorised share capital of ₹75 Cr and a paid-up capital of ₹38.4 Cr. It was formerly known as Minerals Sales Ltd and Minerals Sales P Ltd. It is led by directors including Rahul Kumar Narendrakumar Baldota (Managing Director) and Narendrakumar Abheraj Baldota (Managing Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at No.117 Baldotabhavan Maharshikarveroad, Mumbai, Maharashtra, India – 400020.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,645.79 Cr, a growth of 18% compared to the previous year. For the same year it recorded a net profit of ₹849.42 Cr (net margin 32.1%) and EBITDA of ₹1,300.43 Cr (EBITDA margin 49.2%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 13% over five years.
The company has about 644 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 1 brand: Baldota Group. As per MCA filings, the company has open charges of ₹2,772.55 Cr and satisfied charges of ₹1,006.28 Cr on record. Court records list 665 cases involving the company, including 262 filed by the company and 334 filed against it; 63 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website baldota.co.in.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressNo.117 Baldotabhavan Maharshikarveroad, Mumbai, Maharashtra, India – 400020
- IndustryEnvironment, Wind Energy Solutions
- 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
- One PDF report, delivered after checkout
Name History of MSPL Limited
MSPL has undergone 2 name changes throughout its history. The company was previously known as Minerals Sales Ltd, and Minerals Sales P Ltd. The current legal name is Mspl Limited.
| Company Name | Status |
|---|---|
| MSPL Limited | Current |
| Minerals Sales Ltd | Previous |
| Minerals Sales P Ltd | Previous |
Associated Brands with MSPL Limited
MSPL operates one associated brand: Baldota Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Owner of wind power projects and iron ore mining facilities | baldota.co.in |
Business Activity of MSPL Limited
The main business activities of MSPL are mining and quarrying, electricity, gas, steam and air condition supply and transport and storage. In detail, this covers mining of metal ores, electric power generation, transmission and distribution and air transport. 3 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| B | Mining and quarrying | B3 | Mining of Metal Ores | Locked |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | Locked |
| H | Transport and storage | H4 | Air transport | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of MSPL Limited
MSPL Limited is audited by CHATURVEDI & SHAH LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| CHATURVEDI & SHAH LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors and KMP of MSPL Limited
MSPL Limited currently reports 6 directors and 2 key managerial personnel. 16 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anil Chattar Singh Kavadiya Also directs: Avaan Shakti Limited | Cfo | 20 Jul 2023 | 3 Years 2 Months | Current |
| Rajan Dattatray Kamat | Director | 17 Dec 2022 | 3 Years 9 Months | Current |
| Meda Venkataiah Also directs: Ramgad Minerals and Mining Limited, Aaress Iron and Steel Limited | Director | 03 Sep 2015 | 11 Years 1 Months | Current |
| Rahul Kumar Narendrakumar Baldota | Managing Director | 29 Mar 2021 | 5 Years 6 Months | Current |
| Narendrakumar Abheraj Baldota | Managing Director | 31 Mar 2021 | 5 Years 6 Months | Current |
| Chennareddy Prasad | Company Secretary | 25 May 2018 | 8 Years 4 Months | Current |
Financials of MSPL Limited FY 2025 filings available
MSPL Limited reported revenue of ₹2,645.79 Cr (up 18% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of MSPL Limited
Revenue has grown at a compounded annual rate (CAGR) of 13% over five years, including 18% growth in the latest year. EBITDA rose 28% 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 of MSPL Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
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| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹1,300.43 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹849.42 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
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Financial Ratios of MSPL Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 49.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 32.1% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
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| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
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| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of MSPL are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Ownership and Shareholding of MSPL Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Group Structure of MSPL Limited
MSPL has 2 subsidiary companies and 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Baldota Steel And Power Limited | U24109KA2023PLC171796 | Locked |
| Aaress Iron And Steel Limited | U27103KA2005PLC037892 | Locked |
Showing major subsidiaries. Total: 2.
Charges & Borrowings of MSPL Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Feb 2025 | Axis Bank Limited | ₹3.51 Cr | Open |
| 18 Feb 2025 | Axis Bank Limited | ₹4.39 Cr | Open |
| 21 Nov 2024 | Axis Bank Limited | ₹7 Cr | Open |
| 03 Oct 2024 | Others | ₹102 Cr | Open |
| 18 Sep 2024 | Axis Bank Limited | ₹1.74 Cr | Open |
Total charge records: 31 View all charges
Employees and EPFO Compliance at MSPL Limited
MSPL Limited has a workforce of 644 employees as of Apr 07, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
GST Compliance of MSPL Limited
MSPL has 15 GST registrations: 8 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCM1040N1ZK | Maharashtra | Active | 01 Jul 2017 |
| 29AABCM1040N1ZG | Karnataka | Active | 01 Jul 2017 |
| 30AABCM1040N2ZW | Goa | Active | 08 Aug 2017 |
| 24AABCM1040N1ZQ | Gujarat | Active | 31 Aug 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
Legal Cases of MSPL Limited
MSPL Limited has 665 court cases on record: 262 filed by MSPL, 334 filed against it, 69 where it is another party. 63 cases are pending and 602 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 370 | 132 | 45 |
| District courts | 263 | 181 | 17 |
| Supreme Court | 31 | 21 | 1 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 665)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Interim or miscellaneous application | Filed by the company against The Sandur Manganese and Iron Ores Limited | Pending |
| District court, South Goa, Goa | Court case (SEXA) | Filed by the company against MMTC Limited and 1 other | Pending |
| Bombay High Court | Arbitration matter | Filed against the company by MMTC Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed by the company against The Sandur Manganese and Iron Ores Limited | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed against the company by Vestas Wind Technology India Private Limited | Disposed |
Full case history
All 665 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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, Litigation & Regulatory Alerts for MSPL Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by MSPL Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of MSPL Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
MCA Filings & Documents of MSPL Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Recent Activity on MSPL Limited
Frequently Asked Questions about MSPL Limited
MSPL is an active public limited company based in Mumbai, Maharashtra, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 18 October 1961 (65+ years old) and is registered under CIN U13100MH1961PLC012160.
MSPL reported revenue of ₹2,645.79 Cr for FY 2025 (up 18% YoY).
MSPL has 8 current directors and KMP:
- Rahul Kumar Narendrakumar Baldota - Managing Director
- Narendrakumar Abheraj Baldota - Managing Director
- Shrenik Kumar Narendrakumar Baldota - Managing Director
- Rashmi Shrenik Baldota - Whole-Time Director
- Rajan Dattatray Kamat - Director
- Meda Venkataiah - Director
- Anil Chattar Singh Kavadiya - Cfo
- Chennareddy Prasad - Company Secretary
MSPL reported a net profit of ₹849.42 Cr (net margin 32.1%) and EBITDA of ₹1,300.43 Cr (EBITDA margin 49.2%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of MSPL is 9% over three years and 13% over five years. In the latest year (FY 2025) revenue rose 18%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of MSPL is 27AABCM1040N1ZK, registered in Maharashtra. The company has 15 GST registrations in all, of which 8 are active and 7 are cancelled or inactive. Other active GSTINs include 29AABCM1040N1ZG (Karnataka), 30AABCM1040N2ZW (Goa), 24AABCM1040N1ZQ (Gujarat).
The CIN (Corporate Identification Number) of MSPL is U13100MH1961PLC012160. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
MSPL has 665 court cases on record: 262 filed by the company and 334 filed against it. 63 are pending. Most are in the high courts.
MSPL was incorporated on 18 October 1961, making it 65+ years old. It is registered with the Registrar of Companies, Mumbai.