About Nirav Commercials Limited
Data last updated: 27 September 2026
Nirav Commercials Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in construction materials, a part of the broader manufacturing sector. Incorporated on 27 June 1985, the company has been in operation for over 41 years.
Registered with ROC Mumbai under CIN L51900MH1985PLC036668. Listed on BSE: 512425.
Capital: an authorised share capital of ₹2 Cr and a paid-up capital of ₹39.2 Lakh. It is led by directors including Santosh Mundhra and Lalit Kumar Daga.
Last AGM: 02 September 2025. Financial statements filed for year ended 31 March 2025. Office: Mumbai, Maharashtra.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹12.89 Cr, a growth of 32.48% compared to the previous year. The net worth stands at ₹31.39 Cr (up 3.02% YoY). Total assets are valued at ₹31.39 Cr (down 2.49% YoY).
The company has a workforce of approximately 10 employees as per the latest available data.
As per MCA filings, the company has open charges of ₹3.49 Cr on record.
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.
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Registered AddressB – 1 Tulsi Vihar, Dr. Ab Road Worli Naka, Mumbai, Maharashtra, India – 400018
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IndustryManufacturing, Construction Materials
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
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CIN History of Nirav Commercials Limited
Nirav Commercials Limited has one previous CIN (Corporate Identification Number): U51900MH1985PLC036668. The current CIN is L51900MH1985PLC036668, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L51900MH1985PLC036668 | Current |
| U51900MH1985PLC036668 | Previous |
Business Activity of Nirav Commercials Limited
Nirav Commercials Limited is engaged in the principal business activity of manufacturing, with detailed activities including metal and metal products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products | Locked |
Business activity turnover details for Nirav Commercials Limited
Turnover contribution percentages and historical activity changes require an active report plan.
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Auditor Details of Nirav Commercials Limited
Nirav Commercials Limited is audited by SURYAPRAKASH MAURYA & CO. for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| SURYAPRAKASH MAURYA & CO. | Locked | Locked | Locked |
Complete auditor history for Nirav Commercials Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
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Board of Directors of Nirav Commercials Limited
Nirav Commercials Limited is currently managed by 4 directors, with 5 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Santosh Mundhra | Director | 29 Nov 2018 | 7 Years 9 Months | Current |
| Lalit Kumar Daga | Director | 10 Jul 1996 | 30 Years 2 Months | Current |
|
Raghav Daga
Also directs:
Organic Biosystems Llp, Daga Rubber Works Private Limited, Associated Non-Ferrous Metals Pvt Ltd and 5 more
|
Managing Director | 29 Nov 2018 | 7 Years 9 Months | Current |
| Navinchandra Himchand Shah | Director | 30 May 2017 | 9 Years 3 Months | Current |
Financials of Nirav Commercials Limited FY 2025-26 filings available
Nirav Commercials Limited reported revenue of ₹12.89 Cr (up 32.48% 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 | 12.89 | 9.73 | 10.52 | 9.62 | 11.09 | 5.26 | 3.72 |
| Revenue growth | +28.4% | -4.9% | +11.6% | -14.2% | +95.1% | +15.8% | -13.5% |
| 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 tax | 0.36 | 0.02 | 0.39 | 0.88 | 0.68 | 9.31 | 0.03 |
| Net profit | 0.04 | (0.01) | (0.09) | 0.62 | 1.43 | 9.07 | (0.16) |
| Net profit margin | +0.3% | -0.1% | -0.9% | +6.4% | +12.9% | +172.4% | -4.3% |
| EPS (₹) | 10.85 | 1.11 | 8.18 | 17.11 | 36.74 | 236.80 | 0.94 |
| Balance sheet | |||||||
| Total assets | 31.39 | 32.19 | 30.17 | 29.22 | 28.52 | 26.75 | 17.46 |
| Net worth | 31.39 | 30.47 | 29.87 | 29.12 | 28.52 | 26.75 | 17.46 |
| Total debt | 0.00 | 0.93 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 0.05 | 0.09 | 0.20 | 1.74 | 0.27 | 0.18 | 0.32 |
| Net working capital | 4.95 | 5.64 | 4.47 | 9.80 | 11.65 | 24.33 | 13.25 |
| Cash flow | |||||||
| Cash from operations | (3.27) | (0.28) | 3.75 | 3.86 | 13.56 | (11.48) | (9.74) |
| Cash from investing | (0.67) | (1.03) | (6.29) | (2.79) | (14.01) | 10.79 | 8.73 |
| Cash from financing | 3.90 | 1.20 | 1.00 | 0.40 | 0.55 | 0.55 | 0.95 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.03 | 6.31 | 1.50 | 2.20 | 2.88 | 3.76 | 3.49 | 2.48 |
| Revenue growth (YoY) | -99.0% | +67.8% | -57.0% | -11.3% | +30.9% | +48.6% | +76.3% | -14.8% |
| Other income | 0.22 | 0.58 | 0.09 | 0.12 | 0.12 | 0.65 | 0.17 | 0.01 |
| Total expenses | 0.23 | 6.02 | 1.81 | 2.23 | 2.99 | 4.07 | 3.65 | 2.42 |
| 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% |
| Depreciation | 0.00 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.07 | 0.03 |
| Interest | 0.00 | 0.04 | 0.04 | 0.07 | 0.09 | 0.07 | 0.12 | 0.06 |
| Profit before tax | 0.02 | 0.79 | (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
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.03 | 6.31 | 1.50 | 2.20 | 2.88 | 3.76 | 3.49 | 2.48 |
| Revenue growth (YoY) | -99.0% | +67.8% | -57.0% | -11.3% | +30.9% | +48.6% | +76.3% | -14.8% |
| Other income | 0.22 | 0.58 | 0.09 | 0.12 | 0.12 | 0.65 | 0.17 | 0.01 |
| Total expenses | 0.23 | 6.02 | 1.81 | 2.23 | 2.99 | 4.07 | 3.65 | 2.42 |
| 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% |
| Depreciation | 0.00 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.07 | 0.03 |
| Interest | 0.00 | 0.04 | 0.04 | 0.07 | 0.09 | 0.07 | 0.12 | 0.06 |
| Profit before tax | 0.02 | 0.79 | (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) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 12.89 | 9.73 | 10.52 | 9.62 | 11.09 | 5.26 | 3.72 |
| Revenue growth | +28.4% | -4.9% | +11.6% | -14.2% | +95.1% | +15.8% | -13.5% |
| Other income | 0.91 | 0.83 | 0.80 | 0.90 | 0.80 | 9.82 | 1.30 |
| Total expenses | 13.03 | 10.15 | 10.67 | 9.56 | 11.14 | 5.71 | 4.93 |
| Employee cost | 1.46 | 1.36 | 1.17 | 0.77 | 0.78 | 0.66 | 0.96 |
| 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% |
| Depreciation | 0.15 | 0.14 | 0.12 | 0.04 | 0.05 | 0.05 | 0.05 |
| Interest | 0.26 | 0.25 | 0.14 | 0.04 | 0.02 | 0.01 | 0.01 |
| Profit before tax | 0.36 | 0.02 | 0.39 | 0.88 | 0.68 | 9.31 | 0.03 |
| Tax | (0.06) | (0.02) | 0.06 | 0.20 | (0.75) | 0.05 | 0.00 |
| Net profit | 0.04 | (0.01) | (0.09) | 0.62 | 1.43 | 9.07 | (0.16) |
| Net profit margin | +0.3% | -0.1% | -0.9% | +6.4% | +12.9% | +172.4% | -4.3% |
| EPS (₹) | 10.85 | 1.11 | 8.18 | 17.11 | 36.74 | 236.80 | 0.94 |
| 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 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 |
| Reserves & surplus | 31.00 | 30.08 | 29.48 | 28.73 | 28.13 | 26.36 | 17.07 |
| Shareholders' funds (net worth) | 31.39 | 30.47 | 29.87 | 29.12 | 28.52 | 26.75 | 17.46 |
| Secured loans | 0.00 | 0.93 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 0.00 | 0.93 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 31.39 | 32.19 | 30.17 | 29.22 | 28.52 | 26.75 | 17.46 |
| Assets | |||||||
| Gross block | 1.14 | 2.07 | 2.11 | 1.68 | 1.66 | 1.66 | 1.70 |
| Net block | 0.29 | 0.80 | 0.61 | 0.30 | 0.33 | 0.37 | 0.38 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 26.27 | 25.66 | 24.94 | 19.04 | 16.41 | 2.03 | 3.72 |
| Inventories | 0.00 | 2.66 | 2.18 | 2.47 | 2.11 | 1.75 | 2.74 |
| Sundry debtors | 0.00 | 1.61 | 1.06 | 2.29 | 1.13 | 1.43 | 0.81 |
| Cash & bank balances | 0.05 | 0.09 | 0.20 | 1.74 | 0.27 | 0.18 | 0.32 |
| Loans & advances | 5.05 | 2.56 | 2.65 | 5.20 | 9.42 | 21.71 | 10.66 |
| Total current assets | 5.10 | 6.92 | 6.09 | 11.70 | 12.93 | 25.07 | 14.53 |
| Total current liabilities | 0.15 | 1.28 | 1.62 | 1.90 | 1.28 | 0.74 | 1.28 |
| Net working capital | 4.95 | 5.64 | 4.47 | 9.80 | 11.65 | 24.33 | 13.25 |
| Total assets | 31.39 | 32.19 | 30.17 | 29.22 | 28.52 | 26.75 | 17.46 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.09 | 0.20 | 1.74 | 0.27 | 0.18 | 0.32 | 0.38 |
| Net cash from operating activities | (3.27) | (0.28) | 3.75 | 3.86 | 13.56 | (11.48) | (9.74) |
| Net cash from investing activities | (0.67) | (1.03) | (6.29) | (2.79) | (14.01) | 10.79 | 8.73 |
| Net cash from financing activities | 3.90 | 1.20 | 1.00 | 0.40 | 0.55 | 0.55 | 0.95 |
| Net change in cash | (0.04) | (0.11) | (1.54) | 1.47 | 0.09 | (0.14) | (0.06) |
| Closing cash | 0.05 | 0.09 | 0.20 | 1.74 | 0.27 | 0.18 | 0.32 |
| 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 | +32.5% | -7.5% | +9.4% | -13.3% | +110.8% | +41.4% | -26.5% |
| EBITDA growth | +66.7% | -180.0% | - | +9998.0% | +88.9% | +62.8% | -89.1% |
| PBT growth | +1700.0% | -94.9% | -55.7% | +29.4% | -92.7% | - | -81.3% |
| Net income growth | +9998.0% | +88.9% | - | -56.6% | -84.2% | +9998.0% | +50.0% |
| 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 / equity | 0.01 | 0.02 | 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 | -89.66 | -44.64 | -51.85 | 200.00 | -20.00 | -2.00 | -0.79 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 8.03 | 4.66 | 5.55 | 5.76 | 6.68 | 3.13 | 2.23 |
| Inventory turnover | 9.69 | 4.02 | 4.52 | 4.20 | 5.75 | 2.34 | 1.35 |
| Debtors turnover | 16.01 | 7.29 | 6.28 | 5.63 | 8.66 | 4.70 | 4.40 |
| EPS (₹) | 10.85 | 1.11 | 8.18 | 17.11 | 36.74 | 236.80 | 0.94 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 800.89 | 777.41 | 762.02 | 743.03 | 727.67 | 682.47 | 445.35 |
Shareholding Pattern of Nirav Commercials Limited
As per the shareholding pattern for the quarter ended Mar 2026, promoters hold 52.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00%, retail and other public shareholders hold 48.00% of Nirav Commercials Limited.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|
| Promoters | 52.00% | 52.00% | 52.00% | 52.00% |
| Public | 48.00% | 48.00% | 48.00% | 48.00% |
Charges & Borrowings of Nirav Commercials Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 17 Aug 2023 | Hdfc Bank Limited | ₹3 Cr | Open |
| 29 May 2023 | Hdfc Bank Limited | ₹23.07 Lakh | Open |
| 18 Jan 2002 | State Bank of India | ₹26 Lakh | Open |
Total charge records: 3 View all charges
Employees and EPFO Compliance at Nirav Commercials Limited
Nirav Commercials Limited has a workforce of 10 employees as of Apr 05, 2024.
Employee and EPFO history for Nirav Commercials Limited
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GST Compliance of Nirav Commercials Limited
GST registrations and filing compliance for Nirav Commercials Limited
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Credit Ratings, Litigation & Regulatory Alerts for Nirav Commercials Limited
Credit ratings, litigation, and regulatory alerts for Nirav Commercials Limited
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MSME Payment Delays by Nirav Commercials Limited
MSME payment history for Nirav Commercials Limited
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Subsidiaries & Group Companies of Nirav Commercials Limited
Corporate group structure for Nirav Commercials Limited
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MCA Filings & Documents of Nirav Commercials Limited
MCA filings and documents for Nirav Commercials Limited
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Recent Activity on Nirav Commercials Limited
Recent News on Nirav Commercials Limited
Frequently Asked Questions about Nirav Commercials Limited
Nirav Commercials Limited is an active public limited company in the manufacturing sector based in Mumbai, Maharashtra, India. It was incorporated on 27 June 1985 (41+ years old) and is registered under CIN L51900MH1985PLC036668. Listed on BSE: 512425. The company has 10 employees.
Nirav Commercials Limited reported revenue of ₹12.89 Cr for FY 2025-26 (up 32.48% YoY) based on standalone financials.
The current directors of Nirav Commercials Limited are:
- Santosh Mundhra - Director
- Lalit Kumar Daga - Director
- Raghav Daga - Managing Director
- Navinchandra Himchand Shah - Director
The primary industry of Nirav Commercials Limited is manufacturing. The company specifically operates in construction materials. The company is currently active in this sector.
Yes. Nirav Commercials Limited is listed on BSE with code 512425.
Nirav Commercials Limited can be reached at the registered office: B – 1 Tulsi Vihar, Dr. Ab Road Worli Naka, Mumbai, Maharashtra, India – 400018, or through the website associatedgroup.com.