About MTL Pipes India Limited
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MTL Pipes India Limited is a public limited company based in Dhar, Madhya Pradesh, India. It operates in the pipe and tubes segment of the manufacturing sector. It was incorporated on 24 July 1989 and has been in existence for over 37 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN U28100MP1989PLC049903. Its GSTIN is 23AABCT1839N2Z5 (Madhya Pradesh). The company holds 5 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹9.25 Cr and a paid-up capital of ₹9.1 Cr. It was formerly known as Manone Steel Tubes Limited and Manone Tubes Limited. It is led by directors including Ishwar Shamdas Manik and Himanshu Kumar Jain.
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 Plot No.847 Sector – 3 Pithampur, Dhar, Madhya Pradesh, India – 454774.
As per the financials filed for FY 2025, the company reported a revenue of ₹135.36 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹6.34 Cr (net margin 4.7%) and EBITDA of ₹12.37 Cr (EBITDA margin 9.1%). Revenue has grown at a compounded annual rate (CAGR) of 76% over three years and 65% over five years.
The company has about 50 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹14.74 Cr and satisfied charges of ₹35.69 Cr on record. Court records list 21 cases involving the company, including 10 filed by the company and 11 filed against it; 8 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 mtlpipes.com.
Company details
Name history
MTL Pipes India has undergone 8 name changes throughout its history. The current legal name is Mtl Pipes India Limited.
| Company Name | Status |
|---|---|
| MTL Pipes India Limited | Current |
| Manone Steel Tubes Limited | Previous |
| Manone Tubes Limited | Previous |
| Man Tubes Limited | Previous |
| Ap-Maan Pipes Limited | Previous |
| Man Pipes Limited | Previous |
| Maan Tubes Limited | Previous |
| Tungabhadra Fertilisers & Chemicals Company Limited | Previous |
| Mtl Pipes Limited | Previous |
CIN history
MTL Pipes India has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U28100MP1989PLC049903, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U28100MP1989PLC049903 | Current |
| U28100KA1989PLC010264 | Previous |
| U85110KA1989PLC010264 | Previous |
Contact details
MTL Pipes India Limited's registered office is in Dhar, Madhya Pradesh. Its website is mtlpipes.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressPlot No.847 Sector – 3 Pithampur, Dhar, Madhya Pradesh, India – 454774
- IndustryManufacturing, Pipe & Tubes
To see the full contact details of MTL Pipes India 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 MTL Pipes India 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 MTL Pipes India Limited, buy the company report.
Financials of MTL Pipes India Limited
FY 2024 filings availableMTL Pipes India Limited reported revenue of ₹135.36 Cr (up 213% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 65% over five years, including 213% growth in the latest year. EBITDA rose 82% 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 |
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| Total Expenses | |||||
| EBITDA | ₹12.37 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹6.34 Cr | ||||
| Balance Sheet | |||||
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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 | 9.1% | ||||
| Net Profit Margin | 4.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of MTL Pipes India Limited, buy the company report.
Board of directors of MTL Pipes India Limited
MTL Pipes India has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ishwar Shamdas Manik Also directs: Pilot Fluid Technologies LLP, Manik Radiators Private Limited, Ism Properties Private Limited and 2 more | Director | 03 Jan 2020 | 6 Years 10 Months | Current |
| Himanshu Kumar Jain Also directs: Ashalok Vanijya LLP, Techma Railtech Private Limited, Acumen Rail Private Limited and 4 more | Director | 11 Oct 2021 | 5 Years 0 Months | Current |
| Sheetal Chelawat Also directs: Indo Tubinox Private Limited | Director | 10 Aug 2021 | 5 Years 2 Months | Current |
Peer comparison
MTL Pipes India Limited is compared with the 4 companies closest to it by revenue in the Manufacturing industry (Pipes), 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 |
|---|---|---|---|---|---|---|
| Sky Vision India Private Limited | ₹136.29 Cr (FY 2025) | 37.0% | Hisar, Haryana, India | |||
| JRB Strips Private Limited | ₹136.21 Cr (FY 2025) | -9.0% | Ludhiana, Punjab, India | |||
| MTL Pipes India Limitedthis company | ₹135.36 Cr (FY 2025) | ₹6.34 Cr | 4.7% | 213.0% | 50 | Dhar, Madhya Pradesh, India |
| Qualitech Metal Industries Private Limited | ₹131.66 Cr (FY 2025) | 554.0% | Jodhpur, Rajasthan, India | |||
| Rishi Pipes & Tubes Private Limited | ₹130.33 Cr (FY 2025) | 217.0% | Bangalore, Karnataka, India |
To see the full peer comparison of MTL Pipes India Limited, buy the company report.
Auditor
MTL Pipes India Limited is audited by Uttam Maheshwari & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Uttam Maheshwari & Co. | FY 2023 | 017161C |
Shareholding
The shareholding of MTL Pipes 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 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of MTL Pipes India Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 May 2025 | 101100205 | Hdfc Bank Limited | ₹41.35 Lakh | Open | |
| 13 Sep 2024 | 101014084 | Hdfc Bank Limited | ₹10.34 Lakh | Open | |
| 29 Jun 2024 | 100953667 | Bank of India | ₹13 Cr | Open | |
| 30 May 2023 | 100736148 | Hdfc Bank Limited | ₹1.22 Cr | Open | |
| 16 Nov 2020 | 100397728 | Others | ₹12 Cr | Satisfied |
To see the full charge records of MTL Pipes India Limited, buy the company report.
Total charge records: 20 View all charges
Legal cases
MTL Pipes India Limited has 21 court cases on record: 10 filed by MTL Pipes India, 11 filed against it. 8 cases are pending and 13 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 14 | 7 | 5 |
| District courts | 3 | 1 | 3 |
| High courts | 3 | 3 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Man Infraprojects Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed against the company by Adhunik Transport Organisation Limited Through Its Representative Ramesh Anna Said | Pending |
| NCLAT, Interlocutory Application | Interim or miscellaneous application | Filed against the company by Man Infraprojects Limited | Disposed |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Man Infraprojects Limited | Disposed |
| NCLAT, Court III | Tribunal matter | Filed against the company by Man Infraprojects Limited | Disposed |
To see the full case history of MTL Pipes 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
No delayed payments to MSME suppliers are on our record for MTL Pipes India Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
MTL Pipes India Limited has a workforce of 50 employees on its EPFO records as of Mar 24, 2024, across 1 active EPFO establishment.
GST
MTL Pipes India has 5 GST registrations: 1 active and 4 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AABCT1839N2Z5 | Madhya Pradesh | Active | 01 Apr 2019 |
To see the full GST registrations and return filing status of MTL Pipes India Limited, buy the company report.
Recent activity
MTL Pipes India Limited has 27 board changes on record since 1989: 15 appointments and 12 cessations. The latest: Harrounak Singh Bhatia ceased to be Whole-Time Director on 11 Oct 2021.
60 earlier events are in the company report.
Frequently asked questions
MTL Pipes India is an active public limited company based in Dhar, Madhya Pradesh, India. The company works in pipe and tubes, within the manufacturing industry. It was incorporated on 24 July 1989 (37+ years old) and is registered under CIN U28100MP1989PLC049903.
MTL Pipes India has 3 current directors:
- Ishwar Shamdas Manik - Director
- Himanshu Kumar Jain - Director
- Sheetal Chelawat - Director
The latest financial statements of MTL Pipes India 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 MTL Pipes India is 23AABCT1839N2Z5, registered in Madhya Pradesh. The company has 5 GST registrations in all, of which 1 is active and 4 are cancelled or inactive.
The CIN (Corporate Identification Number) of MTL Pipes India is U28100MP1989PLC049903. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
MTL Pipes India has 21 court cases on record: 10 filed by the company and 11 filed against it. 8 are pending. Most are in the nclat.
MTL Pipes India was incorporated on 24 July 1989, making it 37+ years old. It is registered with the Registrar of Companies, Gwalior.
The peers of MTL Pipes India by revenue are Sky Vision India Private Limited, JRB Strips Private Limited, Qualitech Metal Industries Private Limited, Rishi Pipes & Tubes Private Limited, all in the Manufacturing industry (Pipes), with the same principal business activity (metal and metal products).
Harrounak Singh Bhatia ceased to be Whole-Time Director on 11 Oct 2021. Himanshu Kumar Jain was appointed as Director on 11 Oct 2021. Satpal Singh Bhatia ceased to be Director on 11 Oct 2021. MTL Pipes India has 27 board changes on record in total.
MTL Pipes India can be reached through the website mtlpipes.com. Its registered office is in Dhar, Madhya Pradesh, India.
The registered office of MTL Pipes India is at Plot No.847 Sector – 3 Pithampur, Dhar, Madhya Pradesh, India – 454774.
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