About National Standard (India) Limited
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National Standard (India) Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Macrotech Developers Limited. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 20 August 1962 and has been in existence for over 64 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L27109MH1962PLC265959. Its GSTIN is 27AAACN9808L1Z0 (Maharashtra). The company holds 4 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 504882 and NSE: NATIONSTD.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹20 Cr. It was formerly known as National - Standard Duncan Limited. It is led by directors including Kurian Lonappen Arimpur and Vinod Panalal Shah.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹20.42 Cr, a decline of 8.6% compared to the previous year. For the same year it recorded a net profit of ₹9.67 Cr (net margin 47.4%) and EBITDA of -₹6.25 Cr (EBITDA margin -30.6%). The net worth stands at ₹282 Cr (up 3.5% YoY). Total assets are valued at ₹282 Cr (up 3.5% YoY).
The company is associated with 1 brand: National Standard. As per MCA filings, the company has open charges of ₹530 Cr and satisfied charges of ₹239.33 Cr on record. Court records list 38 cases involving the company, including 11 filed by the company and 27 filed against it; 6 cases are pending. The company has 1 deal on record (1 acquisition); the latest was in May 2010. The company has 10 MSME Form 1 returns on record between 2019 and 2023, listing 18 overdue payments to 3 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website nsil.net.in.
Company details
CIN history
National Standard (India) has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L27109MH1962PLC265959, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L27109MH1962PLC265959 | Current |
| U27109WB1962PLC025605 | Previous |
| L27109WB1962PLC025605 | Previous |
Contact details
National Standard (India) Limited's registered office is in Mumbai, Maharashtra. Its website is nsil.net.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address412 Floor – 4 17G Vardhaman Chamber Cawasji Patel Road Horniman Circle For, T, Mumbai, Maharashtra, India – 400001
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of National Standard (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
Brands
National Standard (India) operates one associated brand: National Standard. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Residential real estate development services are provided in Mumbai, India. | nsil.net.in |
Business activity
The main business activity of National Standard (India) is construction. In detail, this covers buildings.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F1 | Buildings |
To see the full business activity and turnover split of National Standard (India) Limited, buy the company report.
Financials of National Standard (India) Limited
FY 2025-26 filings availableNational Standard (India) Limited reported revenue of ₹20.42 Cr (down 8.6% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 20.42 | 22.33 | 21.37 | 17.35 | 25.46 | 16.86 | 5.39 |
| Revenue growth | -8.6% | +4.5% | +23.2% | -31.9% | +51.0% | +212.8% | - |
| EBITDA | (6.25) | 0.15 | 3.44 | 1.51 | 14.72 | 1.69 | (0.81) |
| EBITDA margin | -30.6% | +0.7% | +16.1% | +8.7% | +57.8% | +10.0% | -15.0% |
| Profit before tax | 13.29 | 18.26 | 19.96 | 12.04 | 33.91 | 15.75 | 8.29 |
| Net profit | 9.67 | 13.19 | 14.75 | 8.27 | 24.60 | 7.99 | 6.53 |
| Net profit margin | +47.4% | +59.1% | +69.0% | +47.7% | +96.6% | +47.4% | +121.2% |
| EPS (₹) | 4.83 | 6.60 | 7.37 | 4.12 | 12.30 | 5.53 | 3.26 |
| Balance sheet | |||||||
| Total assets | 282 | 272 | 259 | 244 | 236 | 212 | 202 |
| Net worth | 282 | 272 | 259 | 244 | 236 | 212 | 200 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 11.72 | 0.26 | 1.02 | 1.04 | 31.48 | 7.74 | 4.92 |
| Net working capital | 275 | 265 | 253 | 239 | 233 | 202 | 191 |
| Cash flow | |||||||
| Cash from operations | (6.02) | (8.26) | (0.98) | 12.83 | 2.89 | 1.37 | 2.14 |
| Cash from investing | 17.48 | 7.50 | 0.96 | (13.76) | (1.56) | (3.25) | (0.59) |
| Cash from financing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.03) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.00 | (1.02) | 0.00 | 3.17 | 17.25 | 0.00 | 2.81 | 15.69 |
| Revenue growth (YoY) | -100.0% | - | -100.0% | -79.8% | +354.0% | -100.0% | - | - |
| Other income | 4.59 | 4.48 | 4.64 | 4.37 | 6.19 | 4.34 | 5.01 | 4.15 |
| Total expenses | 0.13 | 0.07 | 2.99 | 3.23 | 17.61 | 2.85 | 2.91 | 16.66 |
| EBITDA | (0.13) | (1.09) | (2.99) | (0.06) | (0.36) | (2.85) | (0.10) | (0.97) |
| EBITDA margin | - | +106.9% | - | -1.9% | -2.1% | - | -3.6% | -6.2% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 4.46 | 3.39 | 1.65 | 4.31 | 5.83 | 1.49 | 4.89 | 3.18 |
| Tax | 1.12 | 0.85 | 0.49 | 1.06 | 1.57 | 0.50 | 1.29 | 1.02 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.00 | (1.02) | 0.00 | 3.17 | 17.25 | 0.00 | 2.81 | 15.69 |
| Revenue growth (YoY) | -100.0% | - | -100.0% | -79.8% | +354.0% | -100.0% | - | - |
| Other income | 4.59 | 4.48 | 4.64 | 4.37 | 6.19 | 4.34 | 5.01 | 4.15 |
| Total expenses | 0.13 | 0.07 | 2.99 | 3.23 | 17.61 | 2.85 | 2.91 | 16.66 |
| EBITDA | (0.13) | (1.09) | (2.99) | (0.06) | (0.36) | (2.85) | (0.10) | (0.97) |
| EBITDA margin | - | +106.9% | - | -1.9% | -2.1% | - | -3.6% | -6.2% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 4.46 | 3.39 | 1.65 | 4.31 | 5.83 | 1.49 | 4.89 | 3.18 |
| Tax | 1.12 | 0.85 | 0.49 | 1.06 | 1.57 | 0.50 | 1.29 | 1.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 20.42 | 22.33 | 21.37 | 17.35 | 25.46 | 16.86 | 5.39 |
| Revenue growth | -8.6% | +4.5% | +23.2% | -31.9% | +51.0% | +212.8% | - |
| Other income | 19.54 | 18.13 | 16.52 | 10.58 | 19.39 | 14.51 | 9.46 |
| Total expenses | 26.67 | 22.18 | 17.93 | 15.84 | 10.74 | 15.17 | 6.20 |
| Employee cost | 0.13 | 0.09 | 0.10 | 0.12 | 0.11 | 0.06 | 0.07 |
| EBITDA | (6.25) | 0.15 | 3.44 | 1.51 | 14.72 | 1.69 | (0.81) |
| EBITDA margin | -30.6% | +0.7% | +16.1% | +8.7% | +57.8% | +10.0% | -15.0% |
| Depreciation | 0.00 | 0.02 | 0.00 | 0.00 | 0.12 | 0.24 | 0.23 |
| Interest | 0.00 | 0.00 | 0.00 | 0.05 | 0.08 | 0.21 | 0.13 |
| Profit before tax | 13.29 | 18.26 | 19.96 | 12.04 | 33.91 | 15.75 | 8.29 |
| Tax | 3.62 | 5.07 | 5.21 | 3.77 | 9.31 | 4.69 | 1.76 |
| Net profit | 9.67 | 13.19 | 14.75 | 8.27 | 24.60 | 7.99 | 6.53 |
| Net profit margin | +47.4% | +59.1% | +69.0% | +47.7% | +96.6% | +47.4% | +121.2% |
| EPS (₹) | 4.83 | 6.60 | 7.37 | 4.12 | 12.30 | 5.53 | 3.26 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 |
| Reserves & surplus | 262 | 252 | 239 | 224 | 216 | 192 | 180 |
| Shareholders' funds (net worth) | 282 | 272 | 259 | 244 | 236 | 212 | 200 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 282 | 272 | 259 | 244 | 236 | 212 | 202 |
| Assets | |||||||
| Gross block | 1.87 | 1.87 | 1.87 | 1.87 | 1.87 | 5.55 | 6.91 |
| Net block | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 3.45 | 4.86 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 1.62 | 3.29 | 5.67 | 14.07 | 16.72 |
| Sundry debtors | 2.36 | 2.86 | 1.10 | 1.10 | 16.51 | 3.51 | 4.96 |
| Cash & bank balances | 11.72 | 0.26 | 1.02 | 1.04 | 31.48 | 7.74 | 4.92 |
| Loans & advances | 264 | 267 | 257 | 242 | 189 | 192 | 177 |
| Total current assets | 278 | 270 | 261 | 248 | 243 | 217 | 204 |
| Total current liabilities | 2.87 | 4.82 | 8.45 | 9.05 | 9.62 | 15.04 | 12.50 |
| Net working capital | 275 | 265 | 253 | 239 | 233 | 202 | 191 |
| Total assets | 282 | 272 | 259 | 244 | 236 | 212 | 202 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.26 | 1.02 | 1.04 | 1.97 | 0.64 | 2.52 | 1.01 |
| Net cash from operating activities | (6.02) | (8.26) | (0.98) | 12.83 | 2.89 | 1.37 | 2.14 |
| Net cash from investing activities | 17.48 | 7.50 | 0.96 | (13.76) | (1.56) | (3.25) | (0.59) |
| Net cash from financing activities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.03) |
| Net change in cash | 11.46 | (0.76) | (0.02) | (0.93) | 1.33 | (1.88) | 1.52 |
| Closing cash | 11.72 | 0.26 | 1.02 | 1.04 | 31.48 | 7.74 | 4.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -8.6% | +4.5% | +23.2% | -31.9% | +51.0% | +212.8% | - |
| EBITDA growth | -4266.7% | -95.6% | +127.8% | -89.7% | +771.0% | +308.6% | - |
| PBT growth | -27.2% | -8.5% | +65.8% | -64.5% | +115.3% | +90.0% | +37.9% |
| Net income growth | -26.7% | -10.6% | +78.4% | -66.4% | +207.9% | +22.4% | - |
| Revenue CAGR (3Y) | +5.6% | -4.3% | +8.2% | +47.7% | +22.6% | -22.0% | -63.6% |
| EBITDA CAGR (3Y) | - | -78.3% | +26.7% | - | - | -45.3% | - |
| Profitability & leverage | |||||||
| Net income margin | +47.4% | +59.1% | +69.0% | +47.7% | +96.6% | +65.6% | +121.2% |
| Return on capital employed | +4.8% | +6.9% | +7.9% | +5.0% | +15.2% | +5.8% | +4.2% |
| Return on net worth | +3.5% | +5.0% | +5.9% | +3.4% | +11.0% | +3.9% | +3.3% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 0.00 | 0.00 | 0.00 | 3.31 | 0.55 | 14.48 | -12.50 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 10.92 | 11.94 | 11.43 | 9.28 | 6.86 | 2.71 | 0.84 |
| Inventory turnover | 0.00 | 27.57 | 8.70 | 3.87 | 2.58 | 1.10 | 0.31 |
| Debtors turnover | 7.82 | 11.28 | 19.43 | 1.97 | 2.54 | 3.98 | 0.84 |
| EPS (₹) | 4.83 | 6.60 | 7.37 | 4.12 | 12.30 | 5.53 | 3.26 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 141.00 | 136.17 | 129.57 | 122.20 | 118.08 | 105.77 | 100.24 |
To see the full year-wise statements and ratios of National Standard (India) Limited, buy the company report.
Board of directors of National Standard (India) Limited
National Standard (India) has 6 current directors and 43 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kurian Lonappen Arimpur | Director | 12 Nov 2018 | 7 Years 11 Months | Current |
| Vinod Panalal Shah Also directs: Payvin Services Limited Liability Partnership, C View Trading LLP, Soumag Electronics Limited and 2 more | Director | 20 Jul 2021 | 5 Years 3 Months | Current |
| Bhushan Vipinchandra Shah | Director | 06 Jul 2016 | 10 Years 3 Months | Current |
| Prakash Lavji Vaghela Also directs: SVP Global Textiles Limited, Diligent Media Corporation Limited, Roselabs Finance Limited and 4 more | Director | 09 Feb 2018 | 8 Years 8 Months | Current |
| Ritika Bhalla Also directs: Harvard Global Services India LLP, Sanathnagar Enterprises Limited, Gogoro India Private Limited and 1 more | Director | 12 Jul 2022 | 4 Years 3 Months | Current |
| Ravi Liladhar Dodhia | Director | 12 Jul 2023 | 3 Years 3 Months | Current |
Auditor
National Standard (India) Limited is audited by M S K A & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M S K A & Associates | FY 2023 | 105047W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 73.90%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 26.10%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 73.90% | 73.90% | 73.90% | 73.90% |
| Public | 26.10% | 26.10% | 26.10% | 26.10% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Jun 2022 | 100592555 | Idbi Trusteeship Services Limited | ₹530 Cr | Open | |
| 01 Feb 2012 | 10334903 | Housing Development Finance Corporation Limited | ₹225 Cr | Satisfied | |
| 25 Jul 2008 | 10119389 | Yes Bank Limited | ₹9.33 Cr | Satisfied | |
| 31 May 2000 | 80048969 | Bank of Bahrain & Kuwait B.S.C | ₹1 Cr | Satisfied | |
| 31 May 2000 | 90245625 | Bank of Bahrain & Kuwait B.S.C | ₹4 Cr | Satisfied |
To see the full charge records of National Standard (India) Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
National Standard (India) Limited has 1 deal on record (1 acquisition); the latest was in May 2010.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2010 | Acquisition | Undisclosed | Buyer: Anantnath Constructions and Farms Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
National Standard (India) Limited has 38 court cases on record: 11 filed by National Standard (India), 27 filed against it. 6 cases are pending and 32 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 24 | 17 | 3 |
| District courts | 14 | 10 | 3 |
Cases on record (5 of 38)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by Hemant Surgical Industries Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Hemant Surgical Industries Ltd | Disposed |
| District court, Thane, Maharashtra | Civil suit | Filed against the company by Tristar Intermediates Pvt. Ltd. THR. R.N.Thite | Disposed |
| High Court | Company petition | Filed against the company by In the Matter of: Tyre Corporation of India Ltd. -and- | Disposed |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Deluxe Containers P.Ltd. | Disposed |
To see the full case history of National Standard (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
National Standard (India) Limited has 10 MSME Form 1 returns on record between 2019 and 2023, listing 18 overdue payments to 3 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 (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Afoozo Private Limited | |||
| Microtex Energy Private Limited | |||
| Chiniwalas Pvt Ltd |
To see the full MSME payment records of National Standard (India) Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
National Standard (India) has 4 GST registrations: 1 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACN9808L1Z0 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of National Standard (India) Limited, buy the company report.
Recent activity
National Standard (India) Limited has 76 board changes on record since 2002: 42 appointments and 34 cessations. The latest: Smita Satish Ghag ceased to be Director on 06 Nov 2025.
79 earlier events are in the company report.
News
Frequently asked questions
National Standard (India) is an active public limited company based in Mumbai, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 20 August 1962 (64+ years old) and is registered under CIN L27109MH1962PLC265959. Listed on BSE: 504882 and NSE: NATIONSTD.
National Standard (India) reported revenue of ₹20.42 Cr for FY 2025-26 (down 8.6% YoY) based on standalone financials.
National Standard (India) has 6 current directors:
- Kurian Lonappen Arimpur - Director
- Vinod Panalal Shah - Director
- Bhushan Vipinchandra Shah - Director
- Prakash Lavji Vaghela - Director
- Ritika Bhalla - Director
- Ravi Liladhar Dodhia - Director
The latest financial statements of National Standard (India) on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of National Standard (India) is 27AAACN9808L1Z0, registered in Maharashtra. The company has 4 GST registrations in all, of which 1 is active and 3 are cancelled or inactive.
The CIN (Corporate Identification Number) of National Standard (India) is L27109MH1962PLC265959. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. National Standard (India) is a listed company as per MCA records. Its shares are listed on both BSE (code: 504882) and NSE (symbol: NATIONSTD).
National Standard (India) has 38 court cases on record: 11 filed by the company and 27 filed against it. 6 are pending. Most are in the high courts.
National Standard (India) was incorporated on 20 August 1962, making it 64+ years old. It is registered with the Registrar of Companies, Mumbai.
National Standard (India) has 1 deal on record (1 acquisition); the latest was in May 2010.
Smita Satish Ghag ceased to be Director on 06 Nov 2025. Hiteshbhai Lalitbhai Marthak was appointed as Company Secretary on 07 Feb 2025. Manesh Saroj Jhunjhunwala ceased to be Director on 12 Jul 2023. National Standard (India) has 76 board changes on record in total.
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