Nirav Commercials Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L51900MH1985PLC036668 Incorporated 27 June 1985 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - BSE: 512425 Public Limited Company manufacturing MSME
Data last updated
Market Cap
₹27.84 Cr
NIRAVCOM · BSE
Share Price
₹715.55
+0.25% today
Revenue
₹12.89 Cr
FY 2025-26 · +32.5% YoY
EBITDA
−₹0.14 Cr
Margin -1.1%
Net Profit
₹0.04 Cr
FY 2025-26 · +500.0% YoY
P/E (TTM)
78.4x
P/B 0.9x
ROE
0.2%
ROCE 0.8%
Debt / Equity
0.01
Interest cover -89.7x

About Nirav Commercials Limited

Data last updated:

Nirav Commercials Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the construction materials segment of the manufacturing sector. It was incorporated on 27 June 1985 and has been in existence for over 41 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L51900MH1985PLC036668. Its GSTIN is 27AAACN7365G1ZB (Maharashtra). The company holds 2 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on BSE: 512425.

The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹39.2 Lakh. It is led by directors including Raghav Daga (Managing Director) and Santosh Mundhra.

Its last annual general meeting (AGM) was held on 02 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 ₹12.89 Cr, a growth of 32.5% compared to the previous year. For the same year it recorded a net profit of ₹4 Lakh (net margin 0.3%) and EBITDA of -₹14 Lakh (EBITDA margin -1.1%). The net worth stands at ₹31.39 Cr (up 3% YoY). Total assets are valued at ₹31.39 Cr (down 2.5% YoY).

The company has about 10 employees on its provident fund (EPFO) records.

As per MCA filings, the company has open charges of ₹3.49 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 2 deals on record (2 market trades); the latest was in July 2010. Its 5 peer companies in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products) are compared by revenue, 2 larger and 3 smaller; the largest is Ayon Alloys Private Limited with revenue of ₹10.68 Cr.

Nirav Commercials Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-MH-19-0066259). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website associatedgroup.com.

Company details

CIN L51900MH1985PLC036668
Registration Number 036668
Incorporation Date 27 June 1985
ROC Mumbai
Listing Status Listed - Listed on BSE (512425)
Company Status Active
Date of Last AGM 02 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-MH-19-0066259

CIN history

Nirav Commercials has one previous CIN (Corporate Identification Number): U51900MH1985PLC036668. The current CIN is L51900MH1985PLC036668, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L51900MH1985PLC036668Current
U51900MH1985PLC036668Previous

Recognitions & Rankings of Nirav Commercials

MSME (Udyam registered) Ministry of MSME
Udyam number
UDYAM-MH-19-0066259

Contact details

Nirav Commercials Limited's registered office is in Mumbai, Maharashtra. Its website is associatedgroup.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Registered Address
    B – 1 Tulsi Vihar, Dr. Ab Road Worli Naka, Mumbai, Maharashtra, India – 400018
  • Industry
    Manufacturing, Construction Materials

To see the full contact details of Nirav Commercials Limited, buy the company report.

Comprehensive company report
Nirav Commercials Limited - one report that includes everything
  • 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
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Business activity

The main business activity of Nirav Commercials is manufacturing. In detail, this covers metal and metal products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC7Metal and metal products

To see the full business activity and turnover split of Nirav Commercials Limited, buy the company report.

Financials of Nirav Commercials Limited

FY 2025-26 filings available

Nirav Commercials Limited reported revenue of ₹12.89 Cr (up 32.5% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹12.89 Cr
+32.5% YoY
EBITDA
−₹0.14 Cr
+66.7% YoY
Profit After Tax
₹0.04 Cr
+500.0% YoY
Net Worth
₹31.39 Cr
+3.0% YoY
Total Assets
₹31.39 Cr
-2.5% YoY
Total Debt
Nil

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue12.899.7310.529.6211.095.263.72
Revenue growth+32.5%-7.5%+9.4%-13.3%+110.8%+41.4%-
EBITDA(0.14)(0.42)(0.15)0.06(0.05)(0.45)(1.21)
EBITDA margin-1.1%-4.3%-1.4%+0.6%-0.5%-8.6%-32.5%
Profit before tax0.360.020.390.880.689.310.03
Net profit0.04(0.01)(0.09)0.621.439.07(0.16)
Net profit margin+0.3%-0.1%-0.9%+6.4%+12.9%+172.4%-4.3%
EPS (₹)10.851.118.1817.1136.74236.800.94
Balance sheet
Total assets31.3932.1930.1729.2228.5226.7517.46
Net worth31.3930.4729.8729.1228.5226.7517.46
Total debt0.000.930.200.000.000.000.00
Cash & bank0.050.090.201.740.270.180.32
Net working capital4.955.644.479.8011.6524.3313.25
Cash flow
Cash from operations(3.27)(0.28)3.753.8613.56(11.48)(9.74)
Cash from investing(0.67)(1.03)(6.29)(2.79)(14.01)10.798.73
Cash from financing3.901.201.000.400.550.550.95
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.036.311.502.202.883.763.492.48
Revenue growth (YoY)-99.0%+67.8%-57.0%-11.3%+26.3%---
Other income0.220.580.090.120.120.650.170.01
Total expenses0.236.021.812.232.994.073.652.42
EBITDA(0.20)0.29(0.31)(0.03)(0.11)(0.31)(0.16)0.06
EBITDA margin-666.7%+4.6%-20.7%-1.4%-3.8%-8.2%-4.6%+2.4%
Depreciation0.000.040.040.040.040.040.070.03
Interest0.000.040.040.070.090.070.120.06
Profit before tax0.020.79(0.30)(0.02)(0.12)0.23(0.18)(0.02)
Tax(0.09)0.18(0.11)(0.10)(0.03)0.03(0.04)(0.01)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 11 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.036.311.502.202.883.763.492.48
Revenue growth (YoY)-99.0%+67.8%-57.0%-11.3%+26.3%---
Other income0.220.580.090.120.120.650.170.01
Total expenses0.236.021.812.232.994.073.652.42
EBITDA(0.20)0.29(0.31)(0.03)(0.11)(0.31)(0.16)0.06
EBITDA margin-666.7%+4.6%-20.7%-1.4%-3.8%-8.2%-4.6%+2.4%
Depreciation0.000.040.040.040.040.040.070.03
Interest0.000.040.040.070.090.070.120.06
Profit before tax0.020.79(0.30)(0.02)(0.12)0.23(0.18)(0.02)
Tax(0.09)0.18(0.11)(0.10)(0.03)0.03(0.04)(0.01)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue12.899.7310.529.6211.095.263.72
Revenue growth+32.5%-7.5%+9.4%-13.3%+110.8%+41.4%-
Other income0.910.830.800.900.809.821.30
Total expenses13.0310.1510.679.5611.145.714.93
Employee cost1.461.361.170.770.780.660.96
EBITDA(0.14)(0.42)(0.15)0.06(0.05)(0.45)(1.21)
EBITDA margin-1.1%-4.3%-1.4%+0.6%-0.5%-8.6%-32.5%
Depreciation0.150.140.120.040.050.050.05
Interest0.260.250.140.040.020.010.01
Profit before tax0.360.020.390.880.689.310.03
Tax(0.06)(0.02)0.060.20(0.75)0.050.00
Net profit0.04(0.01)(0.09)0.621.439.07(0.16)
Net profit margin+0.3%-0.1%-0.9%+6.4%+12.9%+172.4%-4.3%
EPS (₹)10.851.118.1817.1136.74236.800.94
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital0.390.390.390.390.390.390.39
Reserves & surplus31.0030.0829.4828.7328.1326.3617.07
Shareholders' funds (net worth)31.3930.4729.8729.1228.5226.7517.46
Secured loans0.000.930.000.000.000.000.00
Unsecured loans0.000.000.200.000.000.000.00
Total debt0.000.930.200.000.000.000.00
Total liabilities31.3932.1930.1729.2228.5226.7517.46
Assets
Gross block1.142.072.111.681.661.661.70
Net block0.290.800.610.300.330.370.38
Capital work in progress0.000.000.000.000.000.000.00
Investments26.2725.6624.9419.0416.412.033.72
Inventories0.002.662.182.472.111.752.74
Sundry debtors0.001.611.062.291.131.430.81
Cash & bank balances0.050.090.201.740.270.180.32
Loans & advances5.052.562.655.209.4221.7110.66
Total current assets5.106.926.0911.7012.9325.0714.53
Total current liabilities0.151.281.621.901.280.741.28
Net working capital4.955.644.479.8011.6524.3313.25
Total assets31.3932.1930.1729.2228.5226.7517.46
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.090.201.740.270.180.320.38
Net cash from operating activities(3.27)(0.28)3.753.8613.56(11.48)(9.74)
Net cash from investing activities(0.67)(1.03)(6.29)(2.79)(14.01)10.798.73
Net cash from financing activities3.901.201.000.400.550.550.95
Net change in cash(0.04)(0.11)(1.54)1.470.09(0.14)(0.06)
Closing cash0.050.090.201.740.270.180.32
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+32.5%-7.5%+9.4%-13.3%+110.8%+41.4%-
EBITDA growth+66.7%-180.0%-350.0%+220.0%+88.9%+62.8%-
PBT growth+1700.0%-94.9%-55.7%+29.4%-92.7%--81.3%
Net income growth+500.0%+88.9%-114.5%-56.6%-84.2%+5768.8%-
Revenue CAGR (3Y)+10.3%-4.3%+26.0%+37.3%+29.9%-4.7%-31.8%
EBITDA CAGR (3Y)-+103.3%-30.7%--57.3%+25.1%-
Profitability & leverage
Net income margin+3.3%+0.4%+3.1%+7.1%+12.9%+176.1%+0.8%
Return on capital employed+0.8%+0.7%+0.1%+3.2%+2.6%+42.2%-0.8%
Return on net worth+0.2%-0.0%-0.3%+2.3%+5.2%+42.0%-0.9%
Debt / equity0.010.020.000.000.000.000.00
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover-89.66-44.64-51.85200.00-20.00-2.00-0.79
Efficiency & per share
Fixed asset turnover8.034.665.555.766.683.132.23
Inventory turnover9.694.024.524.205.752.341.35
Debtors turnover16.017.296.285.638.664.704.40
EPS (₹)10.851.118.1817.1136.74236.800.94
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)800.89777.41762.02743.03727.67682.47445.35

To see the full year-wise statements and ratios of Nirav Commercials Limited, buy the company report.

Board of directors of Nirav Commercials Limited

Nirav Commercials has 4 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Santosh MundhraDirector29 Nov 20187 Years 11 MonthsCurrent
Lalit Kumar DagaDirector10 Jul 199630 Years 4 MonthsCurrent
Raghav DagaManaging Director29 Nov 20187 Years 11 MonthsCurrent
Navinchandra Himchand ShahDirector30 May 20179 Years 5 MonthsCurrent

Peer comparison

Nirav Commercials Limited is compared with the 5 companies closest to it by revenue in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Nirav Commercials Limitedthis company₹12.89 Cr (FY 2026)₹4 Lakh0.3%32.5%Mumbai, Maharashtra, India
Ayon Alloys Private Limited₹10.68 Cr (FY 2024)New Delhi, Delhi, India
Gabion Industries Private Limited₹10.65 Cr (FY 2025)-43.0%Himachal Pradesh, India
Krishna Al-Cast Private Limited₹10.52 Cr (FY 2025)-24.0%Kolkata, West Bengal, India
Shripal Metal Limited₹10.5 Cr (FY 2024)-32.0%Mumbai, Maharashtra, India
Mabi Alluplast Private Limited₹10.45 Cr (FY 2024)-54.0%Pardi, Gujarat, India

To see the full peer comparison of Nirav Commercials Limited, buy the company report.

Auditor

Nirav Commercials Limited is audited by SURYAPRAKASH MAURYA & CO. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
SURYAPRAKASH MAURYA & CO.FY 2023147410W

Shareholding

Shareholding for the quarter ended Mar 2026: promoters hold 52.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 48.00%.

Promoters: 52.00%Retail & Others: 48.00%
Mar 2026
QUARTER
52.00% Promoters
48.00% Retail & Others
Promoter holding - history
Now 52.00% · Mar 2026High 52.00% · Jun 2025Low 52.00% · Jun 2025
51%51.5%52%52.5%53%Jun 2025Sep 2025Dec 2025Mar 2026Jun 2025: 52.00%Sep 2025: 52.00%Dec 2025: 52.00%Mar 2026: 52.00%52.00%52.00%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025
Promoters52.00%52.00%52.00%52.00%
Public48.00%48.00%48.00%48.00%

Charges & borrowings

Open charges
₹3.49 Cr
Satisfied charges
None
Breakdown by lending institutions
Hdfc Bank Limited₹3.23 Cr
State Bank of India₹0.26 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
17 Aug 2023100785722Hdfc Bank Limited₹3 CrOpen
29 May 2023100739111Hdfc Bank Limited₹23.07 LakhOpen
18 Jan 200290215756State Bank of India₹26 LakhOpen

To see the full charge records of Nirav Commercials Limited, buy the company report.

Total charge records: 3 View all charges

Deals & funding

Nirav Commercials Limited has 2 deals on record (2 market trades); the latest was in July 2010.

Total deals
2
Market trades
2

Deals on record (2 of 2)

WhenDealAmountParties
Jul 2010Market trade₹14.8 LakhBuyer: Dhyan Stock Broking Pvt Ltd
Seller: Dhyan Stock Broking Pvt Ltd
Mar 2010Market trade₹69.5 LakhBuyer: Aashna Broking Services Private Limited , an individual
Seller: Aashna Broking Services Private Limited , an individual

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Nirav Commercials Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

GST

Nirav Commercials has 2 GST registrations: 2 active.

Total GSTINs
2
Active
2
GSTINStateStatusRegistered on
27AAACN7365G1ZBMaharashtraActive01 Jul 2017
26AAACN7365G1ZDDadra and Nagar Haveli and Daman and DiuActive01 Aug 2020

To see the full GST registrations and return filing status of Nirav Commercials Limited, buy the company report.

Recent activity

Nirav Commercials Limited has 14 board changes on record since 1988: 9 appointments and 5 cessations. The latest: Shiv Kumar Sharma ceased to be CFO on 19 Jul 2019.

Filing
Nirav Commercials Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
AGM
Nirav Commercials Limited last Annual general meeting of members was held on 02 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited of Rs. 3.00 Cr registered on 17 Aug 2023 with Charge ID 100785722 was modified on 30 Oct 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 3.00 Cr with Charge ID 100785722 was registered on 17 Aug 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.23 Cr with Charge ID 100739111 was registered on 29 May 2023.
Ceased
Shiv Kumar Sharma ceased to be CFO.
Ceased
Narayan Das Mundhra ceased to be Director.
Appointed
Raghav Daga was appointed as Managing Director.
Appointed
Santosh Mundhra was appointed as Director.
Ceased
Shailesh Daga ceased to be Director.
Ceased
Sudhir Goel ceased to be Director.
Ceased
Renu Shekhar Somani ceased to be Director.

9 earlier events are in the company report.

Frequently asked questions

Nirav Commercials is an active public limited company based in Mumbai, Maharashtra, India. The company works in construction materials, within the manufacturing industry. It was incorporated on 27 June 1985 (41+ years old) and is registered under CIN L51900MH1985PLC036668. Listed on BSE: 512425.

Nirav Commercials reported revenue of ₹12.89 Cr for FY 2025-26 (up 32.5% YoY) based on standalone financials.

Nirav Commercials has 4 current directors:

The latest financial statements of Nirav Commercials on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 02 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Nirav Commercials is 27AAACN7365G1ZB, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 26AAACN7365G1ZD (Dadra and Nagar Haveli and Daman and Diu).

The CIN (Corporate Identification Number) of Nirav Commercials is L51900MH1985PLC036668. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Nirav Commercials is a listed company as per MCA records. Its shares are listed on BSE (code: 512425).

Nirav Commercials has 1 court case on record: 1 filed by the company.

Nirav Commercials was incorporated on 27 June 1985, making it 41+ years old. It is registered with the Registrar of Companies, Mumbai.

Nirav Commercials has 2 deals on record (2 market trades); the latest was in July 2010.

The peers of Nirav Commercials by revenue are Ayon Alloys Private Limited, Gabion Industries Private Limited, Krishna Al-Cast Private Limited, Shripal Metal Limited, Mabi Alluplast Private Limited, all in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products).