MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-32-0010868
Multistone Granito Private Limited - manufacturing in Morbi, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹68.39 Cr
▲ 33% YoY
Net profit · FY 2025
₹49.55 Lakh
Net margin 0.7%
EBITDA · FY 2025
₹5.89 Cr
EBITDA margin 8.6%
Authorised capital
₹19 Cr
Registered with MCA
Paid-up capital
₹19 Cr
Issued & subscribed
Open charges
₹41.44 Cr
Secured borrowings
Company age
10 yrs
Est. 2016
Employees · EPFO
12
Provident fund records
About Multistone Granito Private Limited
Data last updated:
Multistone Granito Private Limited is a private limited company based in Morbi, Gujarat, India. It operates in the sanitaryware and tile segment of the manufacturing sector. It was incorporated on 12 May 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U26921GJ2016PTC091944. Its GSTIN is 24AAKCM3138J1ZE (Gujarat).
The company has an authorised share capital of ₹19 Cr and a paid-up capital of ₹19 Cr. It is led by directors including Ashwinbhai Shivlalbhai Adroja and Hardikbhai Rajeshbhai Likhiya.
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 N.H.8 – A Lunsar Road Nr. Wankaner Toll Tax Morbi, Gujarat, India – 363621.
As per the financials filed for FY 2025, the company reported a revenue of ₹68.39 Cr, a growth of 33% compared to the previous year. For the same year it recorded a net profit of ₹49.55 Lakh (net margin 0.7%) and EBITDA of ₹5.89 Cr (EBITDA margin 8.6%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 9% over five years.
The company has about 12 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Multistone Granito and MultiStone. As per MCA filings, the company has open charges of ₹41.44 Cr on record. Court records list 138 cases involving the company, including 134 filed by the company and 4 filed against it; 98 cases are pending. The company has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹9 Cr; the latest was in September 2022. Its 10 peer companies in the Manufacturing industry (Ceramics, Sanitaryware and Tiles) are compared by revenue, 5 larger and 5 smaller; the largest is Airona Tiles Limited with revenue of ₹70.27 Cr. The company has 4 MSME Form 1 returns on record between 2018 and 2020, listing 142 overdue payments to 16 micro and small suppliers.
Multistone Granito Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-32-0010868). The current compliance status is marked as active non-compliant by the Registrar of Companies. For more details, the company can be reached via its website multistone.in.
Company Details of Multistone Granito Private Limited
CIN U26921GJ2016PTC091944
Registration Number 091944
Incorporation Date 12 May 2016
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Non-Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-32-0010868
Key People
Ashwinbhai Shivlalbhai Adroja Director Hardikbhai Rajeshbhai Likhiya Director Nareshkumar Babulal Patel Director Recognitions & Rankings of Multistone Granito
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressN.H.8 – A Lunsar Road Nr. Wankaner Toll Tax Morbi, Gujarat, India – 363621
- IndustryManufacturing, Sanitaryware & Tile, Ceramics
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Associated Brands with Multistone Granito Private Limited
Multistone Granito operates two associated brands: Multistone Granito and MultiStone. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufactures and supplies stone countertops, tiles, and other construction materials. | multistone.in | |
| Tile manufacturing and export services in India. | multistonetiles.com |
Business Activity of Multistone Granito Private Limited
The main business activity of Multistone Granito is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
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Financials of Multistone Granito Private Limited FY 2024 filings available
Multistone Granito Private Limited reported revenue of ₹68.39 Cr (up 33% YoY) for FY 2025.
Revenue · FY 2025
₹68.39 Cr ▲ 33%
Net profit · FY 2025
₹49.55 Lakh margin 0.7%
EBITDA · FY 2025
₹5.89 Cr margin 8.6%
Compounded Annual Growth Rate (CAGR) of Multistone Granito Private Limited
Revenue CAGR growth
1 year
▲ 33%
3 years · compounded
▲ 7%
5 years · compounded
▲ 9%
EBITDA CAGR growth
1 year
▼ 15%
3 years · compounded
▼ 9%
5 years · compounded
▼ 1%
Revenue has grown at a compounded annual rate (CAGR) of 9% over five years, including 33% growth in the latest year. EBITDA fell 15% 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 Multistone Granito Private Limited
| 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 | ₹5.89 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹49.55 Lakh | •••• | •••• | •••• | •••• |
| 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 of Multistone Granito Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.6% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.7% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
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 Multistone Granito are in the company report.
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Financial statements from FY 2017
Earlier years and trend charts are in the company report.
- Income statements
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Verified entity values are shown only after access is granted.
Board of Directors of Multistone Granito Private Limited
Multistone Granito has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashwinbhai Shivlalbhai Adroja Also directs: Aj Smartbuild Private Limited, Angel Pumps Private Limited | Director | 12 May 2016 | 10 Years 5 Months | Current |
| Hardikbhai Rajeshbhai Likhiya | Director | 12 May 2016 | 10 Years 5 Months | Current |
| Nareshkumar Babulal Patel | Director | 02 Jun 2016 | 10 Years 4 Months | Current |
Peer Comparison of Multistone Granito Private Limited
Multistone Granito Private Limited is compared with the companies closest to it by revenue in the Manufacturing industry (Ceramics, Sanitaryware and Tiles). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Airona Tiles Limited | ₹70.27 Cr (FY 2025) | •••• | •••• | 10.0% | •••• | Himatnagar, Gujarat, India |
| Famous Vitrified Private Limited | ₹69.93 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Sartanpar, Gujarat, India |
| Sunflora Vitrified Private Limited | ₹69.11 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Matel, Gujarat, India |
| Zed Vitrified Private Limited | ₹69.09 Cr (FY 2025) | •••• | •••• | -25.0% | •••• | Lalpar, Gujarat, India |
| Metro City Tiles Private Limited | ₹69.06 Cr (FY 2024) | •••• | •••• | 8.0% | •••• | Ghuntu, Gujarat, India |
| Multistone Granito Private Limited this company | ₹68.39 Cr (FY 2025) | •••• | •••• | 33.0% | •••• | Morbi, Gujarat, India |
| Divyashakti Limited Listed | ₹68.36 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Telangana, India |
| Valencia Ceramic Private Limited | ₹68.35 Cr (FY 2024) | •••• | •••• | -13.0% | •••• | Morbi, Gujarat, India |
| Verona Granito Private Limited | ₹67.77 Cr (FY 2025) | •••• | •••• | -32.0% | •••• | Makansar, Gujarat, India |
| Avlon Ceramic Private Limited | ₹67.69 Cr (FY 2024) | •••• | •••• | 7.0% | •••• | Morbi, Gujarat, India |
| Lezora Vitrified Private Limited | ₹67.08 Cr (FY 2025) | •••• | •••• | -14.0% | •••• | Matel, Gujarat, India |
Peers are the five companies nearest above and the five nearest below Multistone Granito by revenue in the Manufacturing industry (Ceramics, Sanitaryware and Tiles), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Multistone Granito Private Limited
Multistone Granito Private Limited is audited by BHAVIN TANK & CO for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| BHAVIN TANK & CO | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Multistone Granito Private Limited
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Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Multistone Granito Private Limited
Open charges
₹41.44 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 19 Sep 2016 | State Bank of India | ₹41.44 Cr | Open |
Total charge records: 1 View all charges
Deals & Funding of Multistone Granito Private Limited
Multistone Granito Private Limited has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹9 Cr; the latest was in September 2022.
Total deals
5
Secondary share transfers
3
Rights issue
1
Funding round
1
Disclosed funding
₹9 Cr
Deals on record (4 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 4 individuals |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2017 | Rights issue | ₹9.95 Cr | Investors: 4 individuals |
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Full deal history
All 5 deals with amounts, valuations, instruments and every party are in the company report.
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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Multistone Granito Private Limited
Multistone Granito Private Limited has 138 court cases on record: 134 filed by Multistone Granito, 4 filed against it. 98 cases are pending and 40 are disposed. Status as checked between 30 Sep 2026 and 03 Oct 2026.
Total cases
138
Filed by the company
134
Filed against the company
4
Pending
98
Disposed
40
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 138 | 4 | 98 |
Cases on record (5 of 138)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Sriman Ceramics LLP | Pending |
| District court, Ahmedabad, Gujarat | Court case (CR EN) | Filed by the company against an individual | Pending |
| District court, Ahmedabad, Gujarat | Court case (CR EN) | Filed by the company against an individual | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against an individual | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Chandan Enterprises - Mohan Kumar | Pending |
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Full case history
All 138 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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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 by Multistone Granito Private Limited
Multistone Granito Private Limited has 4 MSME Form 1 returns on record between 2018 and 2020, listing 142 overdue payments to 16 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 16)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Asian Minrals | •••• | •••• | •••• |
| Blue Star Polymers | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Sanwariya Minerals | •••• | •••• | •••• |
| Astron Zircon Private Limited | •••• | •••• | •••• |
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Full MSME payment history
Every supplier, amount and due date from all 4 MSME Form 1 returns is in the company report.
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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Multistone Granito Private Limited
Multistone Granito Private Limited has a workforce of 12 employees as of Mar 31, 2024.
Employee count
12
Active EPFO establishments
1
Employee growth
-29.41%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
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Recent Activity on Multistone Granito Private Limited
Multistone Granito Private Limited has 11 board changes on record since 2016: 7 appointments and 4 cessations. The latest: Rajeshbhai Jivrajbhai Likhiya ceased to be Director on 25 Oct 2021.
AGM
Multistone Granito Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Multistone Granito Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ahmedabad.
Ceased
Rajeshbhai Jivrajbhai Likhiya ceased to be Director.
Charges
A charge with State Bank Of India of Rs. 41.44 Cr registered on 19 Sep 2016 with Charge ID 100052743 was modified on 05 Dec 2020.
Ceased
Jainish Kamleshbhai Adroja ceased to be Director.
Ceased
Bharatkumar Devjibhai Sukhadia ceased to be Director.
Ceased
Viten Haribhai Kavar ceased to be Director.
Charges
A charge with State Bank Of India amounted to Rs. 41.44 Cr with Charge ID 100052743 was registered on 19 Sep 2016.
Appointed
Nareshkumar Babulal Patel was appointed as Director.
Appointed
Ashwinbhai Shivlalbhai Adroja was appointed as Director.
Appointed
Bharatkumar Devjibhai Sukhadia was appointed as Director.
Appointed
Hardikbhai Rajeshbhai Likhiya was appointed as Director.
4 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Multistone Granito Private Limited
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Credit ratings, litigation, and regulatory alerts
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Subsidiaries & Group Companies of Multistone Granito Private Limited
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Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
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GST Compliance of Multistone Granito Private Limited
Multistone Granito has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAKCM3138J1ZE | Gujarat | Active | 01 Jul 2017 |
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GST registrations and filing compliance
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MCA Filings & Documents of Multistone Granito Private Limited
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MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
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Frequently Asked Questions about Multistone Granito Private Limited
Multistone Granito is an active private limited company based in Morbi, Gujarat, India. The company works in sanitaryware and tile, within the manufacturing industry. It was incorporated on 12 May 2016 (10+ years old) and is registered under CIN U26921GJ2016PTC091944.
Multistone Granito reported revenue of ₹68.39 Cr for FY 2025 (up 33% YoY).
Multistone Granito has 3 current directors:
- Ashwinbhai Shivlalbhai Adroja - Director
- Hardikbhai Rajeshbhai Likhiya - Director
- Nareshkumar Babulal Patel - Director
Multistone Granito reported a net profit of ₹49.55 Lakh (net margin 0.7%) and EBITDA of ₹5.89 Cr (EBITDA margin 8.6%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Multistone Granito is 7% over three years and 9% over five years. In the latest year (FY 2025) revenue rose 33%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Multistone Granito is 24AAKCM3138J1ZE, registered in Gujarat.
The CIN (Corporate Identification Number) of Multistone Granito is U26921GJ2016PTC091944. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Multistone Granito has 138 court cases on record: 134 filed by the company and 4 filed against it. 98 are pending.
Multistone Granito was incorporated on 12 May 2016, making it 10+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Multistone Granito has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹9 Cr; the latest was in September 2022.
The peers of Multistone Granito by revenue are Airona Tiles Limited, Famous Vitrified Private Limited, Sunflora Vitrified Private Limited, Zed Vitrified Private Limited, Metro City Tiles Private Limited and 5 more, all in the Manufacturing industry (Ceramics, Sanitaryware and Tiles).
Rajeshbhai Jivrajbhai Likhiya ceased to be Director on 25 Oct 2021. Jainish Kamleshbhai Adroja ceased to be Director on 09 Aug 2020. Bharatkumar Devjibhai Sukhadia ceased to be Director on 02 Jun 2020. Multistone Granito has 11 board changes on record in total.