About NCR Rail Infrastructure Limited
Data last updated:
NCR Rail Infrastructure Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Arshiya Limited. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the rail freight logistics and services segment of the transport and logistics sector. It was incorporated on 07 April 2008.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U93000MH2008PLC180907. Its GSTIN is 27AAGCA9648B2ZL (Maharashtra). The company holds 7 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹65.05 Cr and a paid-up capital of ₹59.79 Cr. It is led by directors including Ajay Mittal Shankarlal and Rishabh Shah Pankaj.
Its last annual general meeting (AGM) was held on 25 September 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹10.79 Cr, a decline of 48% compared to the previous year. For the same year it recorded a net loss of ₹23.34 Cr (net margin -216.3%) and EBITDA of ₹1.01 Cr (EBITDA margin 9.4%). Revenue has declined at a compounded annual rate (CAGR) of 41% over five years.
As per MCA filings, the company has open charges of ₹996.49 Cr and satisfied charges of ₹189.5 Cr on record. Court records list 15 cases involving the company, including 15 filed against it; 8 cases are pending. The company has 5 deals on record (3 funding rounds, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹326.78 Cr; the latest was in March 2017. Its 10 peer companies in the Transport and Logistics industry (Rail Freight Services) are compared by revenue, 5 larger and 5 smaller; the largest is Shivam PFT Limited with revenue of ₹16.42 Cr.
The last known website on record is arshiyalimited.com.
CIN History of NCR Rail Infrastructure Limited
NCR Rail Infrastructure has one previous CIN (Corporate Identification Number): U45200MH2008PLC180907. The current CIN is U93000MH2008PLC180907, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U93000MH2008PLC180907 | Current |
| U45200MH2008PLC180907 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address205 & 206 (Part) 2nd Floor Ceejay House F – Block Shiv Sagar Estate Dr. Annie Besant Road, Worli, Mumbai, Maharashtra, India – 400018
- IndustryTransport and Logistics, Rail Freight Logistics & Services
- 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
Business Activity of NCR Rail Infrastructure Limited
The main business activity of NCR Rail Infrastructure is transport and storage. In detail, this covers land transport via railways & pipelines.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| H | Transport and storage | H2 | Land transport via Railways & Pipelines | 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.
Financials of NCR Rail Infrastructure Limited FY 2021 filings available
NCR Rail Infrastructure Limited reported revenue of ₹10.79 Cr (down 48% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of NCR Rail Infrastructure Limited
Revenue has declined at a compounded annual rate (CAGR) of 41% over five years, including a 48% fall in the latest year. EBITDA rose 100% 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 NCR Rail Infrastructure 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 | ₹1.01 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹23.34 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 of NCR Rail Infrastructure Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 9.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -216.3% | •••• | •••• | •••• | •••• |
| 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 NCR Rail Infrastructure 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.
Board of Directors of NCR Rail Infrastructure Limited
NCR Rail Infrastructure has 5 current directors and 28 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ajay Mittal Shankarlal Also directs: Mega Fin (India) Limited, Arshiya Distribution Hub Private Limited, Arshiya Technologies (India) Private Limited and 5 more | Director | 24 May 2018 | 8 Years 4 Months | As last reported |
| Rishabh Shah Pankaj | Director | 27 Mar 2015 | 11 Years 6 Months | As last reported |
| Pankaj Mahajan | Irp/Rp/Liquidator | 29 Oct 2024 | 1 Years 11 Months | As last reported |
| Ashishkumar Bairagra Also directs: M L Bhuwania and Co LLP, Shrikant Finconserv Private Limited, Bairagra Properties and Investment Private Limited and 5 more | Director | 16 Jan 2010 | 16 Years 9 Months | As last reported |
| Navnit Jugal Kishore Choudhary | Director | 15 Jan 2013 | 13 Years 9 Months | As last reported |
Peer Comparison of NCR Rail Infrastructure Limited
NCR Rail Infrastructure Limited is compared with the companies closest to it by revenue in the Transport and Logistics industry (Rail Freight Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Shivam PFT Limited | ₹16.42 Cr (FY 2025) | •••• | •••• | 6.0% | •••• | Ahmedabad, Gujarat, India |
| Sail Interlink Xpress Private Limited | ₹14.1 Cr (FY 2025) | •••• | •••• | 91.0% | •••• | Tirupur, Tamil Nadu, India |
| Airwide Express Cargo Private Limited | ₹12.74 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | New Delhi, Delhi, India |
| Shree Govinda Roadways Private Limited | ₹11.03 Cr (FY 2025) | •••• | •••• | -12.0% | •••• | New Delhi, Delhi, India |
| Doon Logistics Private Limited | ₹10.86 Cr (FY 2025) | •••• | •••• | -10.0% | •••• | Jodhpur, Rajasthan, India |
| NCR Rail Infrastructure Limited this company | ₹10.79 Cr (FY 2025) | •••• | •••• | -48.0% | •••• | Mumbai, Maharashtra, India |
| True Marine Logistics Services Private Limited | ₹9.92 Cr (FY 2025) | •••• | •••• | -5.0% | •••• | Ludhiana, Punjab, India |
| Shri Swamijee Train Carriers Private Limited | ₹9.3 Cr (FY 2025) | •••• | •••• | 118.0% | •••• | Pune, Maharashtra, India |
| JSW Logistics Infrastructure Private Limited | ₹8.45 Cr (FY 2018) | •••• | •••• | 112.0% | •••• | Mumbai, Maharashtra, India |
| Rightways Container Transport Private Limited | ₹7.52 Cr (FY 2024) | •••• | •••• | -11.0% | •••• | Jaipur, Rajasthan, India |
| D G Raj Commercial Private Limited | ₹5.42 Cr (FY 2018) | •••• | •••• | 58.0% | •••• | Delhi, India |
Peers are the five companies nearest above and the five nearest below NCR Rail Infrastructure by revenue in the Transport and Logistics industry (Rail Freight Services), 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 NCR Rail Infrastructure Limited
NCR Rail Infrastructure Limited is audited by CHATURVEDI & SHAH for the financial year 2020.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| CHATURVEDI & SHAH | 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.
Ownership and Shareholding of NCR Rail Infrastructure 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.
Charges & Borrowings of NCR Rail Infrastructure Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 30 Mar 2019 | Others | ₹5.5 Cr | Open |
| 17 Jan 2018 | Others | ₹30 Cr | Open |
| 02 Aug 2013 | Sbicap Trustee Company Limited | ₹19.08 Cr | Open |
| 12 Jan 2011 | Others | ₹389.79 Cr | Open |
| 16 Jul 2010 | Others | ₹60 Cr | Open |
Total charge records: 12 View all charges
Deals & Funding of NCR Rail Infrastructure Limited
NCR Rail Infrastructure Limited has 5 deals on record (3 funding rounds, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹326.78 Cr; the latest was in March 2017.
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2017 | Funding round | ₹149.52 Cr | Investors: Edelweiss Asset Reconstruction Company Limited , Arshiya Limited |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Arshiya Limited Seller: Arshiya Hong Kong Limited, Edelweiss Asset Reconstruction Company Limited |
| Mar 2014 | Funding round | ₹134.12 Cr | Investors: Arshiya Limited |
| Dec 2011 | Funding round | ₹43.13 Cr | Investors: Arshiya Hong Kong Limited |
| Sep 2008 | Acquisition | ₹99.99 Cr | Buyer: Arshiya Limited |
Full deal history
All 5 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of NCR Rail Infrastructure Limited
NCR Rail Infrastructure Limited has 15 court cases on record: 15 filed against it. 8 cases are pending and 7 are disposed. Status as checked on 21 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 15 | 15 | 8 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, New Delhi | Interim or miscellaneous application | Filed against the company by Assistant Commissioner Inland Container Depot (Icd) – Khurja | Pending |
| NCLAT, New Delhi | Interim or miscellaneous application | Filed against the company by Assistant Commissioner Inland Container Depot (Icd)Khurja | Pending |
| NCLAT, New Delhi | Insolvency matter | Filed against the company by Assistant Commissioner Inland Container Depot (Icd) – Khurja | Pending |
| NCLAT, New Delhi | Interim or miscellaneous application | Filed against the company by an individual | Pending |
| NCLAT, New Delhi | Interim or miscellaneous application | Filed against the company by Assistant Commissioner Inland Container Depot (Icd) – Khurja | Disposed |
Full case history
All 15 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.
Employees and EPFO Compliance at NCR Rail Infrastructure Limited
Employment history and EPFO contributions of people linked to NCR Rail Infrastructure.
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.
Recent Activity on NCR Rail Infrastructure Limited
NCR Rail Infrastructure Limited has 24 board changes on record since 2009: 5 appointments and 19 cessations. The latest: Bhuvan Madan ceased to be Irp/Rp/Liquidator on 29 Oct 2024.
41 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for NCR Rail Infrastructure 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 NCR Rail Infrastructure 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 NCR Rail Infrastructure 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.
GST Compliance of NCR Rail Infrastructure Limited
NCR Rail Infrastructure has 7 GST registrations: 4 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAGCA9648B2ZL | Maharashtra | Active | 21 Sep 2017 |
| 09AAGCA9648B1ZK | Uttar Pradesh | Active | 01 Jul 2017 |
| 07AAGCA9648B3ZM | Delhi | Active | 15 Dec 2017 |
| 06AAGCA9648B1ZQ | Haryana | Active | 24 Jul 2018 |
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.
MCA Filings & Documents of NCR Rail Infrastructure 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.
Related news about NCR Rail Infrastructure Limited
Frequently Asked Questions about NCR Rail Infrastructure Limited
NCR Rail Infrastructure is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
NCR Rail Infrastructure is a company under insolvency, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in rail freight logistics and services, within the transport and logistics industry. It was incorporated on 07 April 2008 and is registered under CIN U93000MH2008PLC180907. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
NCR Rail Infrastructure reported revenue of ₹10.79 Cr for FY 2025 (down 48% YoY).
NCR Rail Infrastructure has 5 current directors:
- Ajay Mittal Shankarlal - Director
- Rishabh Shah Pankaj - Director
- Ashishkumar Bairagra - Director
- Navnit Jugal Kishore Choudhary - Director
- Pankaj Mahajan - Irp/Rp/Liquidator
NCR Rail Infrastructure reported a net loss of ₹23.34 Cr (net margin -216.3%) and EBITDA of ₹1.01 Cr (EBITDA margin 9.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of NCR Rail Infrastructure is -41% over five years. In the latest year (FY 2025) revenue fell 48%. CAGR is the steady yearly rate that links the first and the last year.
The CIN (Corporate Identification Number) of NCR Rail Infrastructure is U93000MH2008PLC180907. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
NCR Rail Infrastructure has open charges of ₹996.49 Cr and satisfied charges of ₹189.5 Cr as per latest MCA filings.
NCR Rail Infrastructure has 15 court cases on record: 15 filed against it. 8 are pending.
NCR Rail Infrastructure was incorporated on 07 April 2008. It is registered with the Registrar of Companies, Mumbai.
NCR Rail Infrastructure has 5 deals on record (3 funding rounds, 1 secondary share transfer, 1 acquisition), with disclosed funding of ₹326.78 Cr; the latest was in March 2017.