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 22 cases involving the company, including 2 filed by the company and 20 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.
The last known website on record is arshiyalimited.com.
Company details
CIN history
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 |
Contact details
NCR Rail Infrastructure Limited's registered office is in Mumbai, Maharashtra. Its website is arshiyalimited.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- 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
To see the full contact details of NCR Rail Infrastructure 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 NCR Rail Infrastructure is transport and storage. In detail, this covers land transport via railways & pipelines.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H2 | Land transport via Railways & Pipelines |
To see the full business activity and turnover split of NCR Rail Infrastructure Limited, buy the company report.
Financials of NCR Rail Infrastructure Limited
FY 2021 filings availableNCR Rail Infrastructure Limited reported revenue of ₹10.79 Cr (down 48% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
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
| 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
| 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 | |||||
To see the full financial statements and ratios of NCR Rail Infrastructure Limited, buy the company report.
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 |
Auditor
NCR Rail Infrastructure Limited is audited by CHATURVEDI & SHAH for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CHATURVEDI & SHAH | FY 2020 | 101720W |
Shareholding
The shareholding of NCR Rail Infrastructure Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of NCR Rail Infrastructure Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Mar 2019 | 100267097 | Others | ₹5.5 Cr | Open | |
| 17 Jan 2018 | 100153759 | Others | ₹30 Cr | Open | |
| 02 Aug 2013 | 10474150 | Sbicap Trustee Company Limited | ₹19.08 Cr | Open | |
| 12 Jan 2011 | 10266395 | Others | ₹389.79 Cr | Open | |
| 16 Jul 2010 | 10233512 | Others | ₹60 Cr | Open |
To see the full charge records of NCR Rail Infrastructure Limited, buy the company report.
Total charge records: 12 View all charges
Deals & funding
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 |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
NCR Rail Infrastructure Limited has 22 court cases on record: 2 filed by NCR Rail Infrastructure, 20 filed against it. 8 cases are pending and 14 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 15 | 15 | 8 |
| NCLT | 7 | 5 | 0 |
Cases on record (5 of 22)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Principal Bench | Court case (TA(IBC)) | Filed by the company against Edelweiss Asset Reconstruction Companylimited | Disposed |
| NCLT, Mumbai | Insolvency matter | Filed against the company by Idbi Capital Markets & Securities Ltd | Disposed |
| NCLT, Mumbai | Court case (TP(IBC)) | Filed against the company by Idbi Capital Markets & Securities Ltd | Disposed |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by The Assistant Commissioner Inland Container Depot (Icd) – Khurja | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by The Assistant Commissioner Inland Container Depot (Icd)Khurja | Pending |
To see the full case history of NCR Rail Infrastructure 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 NCR Rail Infrastructure Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
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 |
To see the full GST registrations and return filing status of NCR Rail Infrastructure Limited, buy the company report.
Recent activity
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 in the company report.
News
Frequently asked questions
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 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
The latest financial statements of NCR Rail Infrastructure on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 25 September 2021. Year-wise statements from 2015 are in the company report.
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 22 court cases on record: 2 filed by the company and 20 filed against it. 8 are pending. Most are in the nclat.
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.
Bhuvan Madan ceased to be Irp/Rp/Liquidator on 29 Oct 2024. Pankaj Mahajan was appointed as Irp/Rp/Liquidator on 29 Oct 2024. Sarvothama Neelayya Shetty ceased to be Ceo(Kmp) on 05 Sep 2022. NCR Rail Infrastructure has 24 board changes on record in total.