MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-19-0021826
Novo Excipients Private Limited - pharma in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹103.54 Cr
▼ 1% YoY
Net profit · FY 2025
₹18.67 Cr
Net margin 18%
EBITDA · FY 2025
₹25.92 Cr
EBITDA margin 25%
Authorised capital
₹10 Lakh
Registered with MCA
Paid-up capital
₹2 Lakh
Issued & subscribed
Open charges
₹6 Cr
Secured borrowings
Company age
23 yrs
Est. 2003
Employees · EPFO
135
Provident fund records
About Novo Excipients Private Limited
Data last updated:
Novo Excipients Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 01 October 2003 and has been in existence for over 23 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24230MH2003PTC142463. Its GSTIN is 27AACCC3785B1ZU (Maharashtra).
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹2 Lakh. It was formerly known as Active Drugs Systems Private Limited. and Chemisun Pharmaceuticals Industries Private Limited. It is led by directors Gautam Chandrakumar Shah (Managing Director) and Bimal Shantilal Doshi.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 5/C Shree Laxmi Ind Estatenew Link Road Andheri West, Mumbai, Maharashtra, India – 400053.
As per the financials filed for FY 2025, the company reported a revenue of ₹103.54 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net profit of ₹18.67 Cr (net margin 18%) and EBITDA of ₹25.92 Cr (EBITDA margin 25%). Revenue has grown at a compounded annual rate (CAGR) of 27% over three years and 26% over five years.
The company has about 135 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Novomix. As per MCA filings, the company has open charges of ₹6 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company; 3 cases are pending. The company has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2019. Its 10 peer companies in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 5 smaller; the largest is Almelo Private Limited with revenue of ₹108.05 Cr. The company has 14 MSME Form 1 returns on record between 2019 and 2023, listing 252 overdue payments to 29 micro and small suppliers.
Novo Excipients Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0021826). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website novomix.in.
Company details
CIN U24230MH2003PTC142463
Registration Number 142463
Incorporation Date 01 October 2003
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0021826
Name history
Novo Excipients has undergone 2 name changes throughout its history. The company was previously known as Active Drugs Systems Private Limited., and Chemisun Pharmaceuticals Industries Private Limited. The current legal name is Novo Excipients Private Limited.
| Company Name | Status |
|---|---|
| Novo Excipients Private Limited | Current |
| Active Drugs Systems Private Limited. | Previous |
| Chemisun Pharmaceuticals Industries Private Limited | Previous |
Recognitions & Rankings of Novo Excipients
Contact details
Novo Excipients Private Limited's registered office is in Mumbai, Maharashtra. Its website is novomix.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address5/C Shree Laxmi Ind Estatenew Link Road Andheri West, Mumbai, Maharashtra, India – 400053
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Novo Excipients Private Limited, buy the company report.
Comprehensive company report
Novo Excipients Private 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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Brands
Novo Excipients operates one associated brand: Novomix. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Develops and manufactures pharmaceutical excipients for industry applications. | novomix.in |
Business activity
The main business activity of Novo Excipients is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Novo Excipients Private Limited, buy the company report.
Financials of Novo Excipients Private Limited
FY 2025 filings availableNovo Excipients Private Limited reported revenue of ₹103.54 Cr (down 1% YoY) for FY 2025.
Revenue · FY 2025
₹103.54 Cr ▼ 1%
Net profit · FY 2025
₹18.67 Cr margin 18%
EBITDA · FY 2025
₹25.92 Cr margin 25%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 1%
3 years · compounded
▲ 27%
5 years · compounded
▲ 26%
EBITDA CAGR growth
1 year
▲ 20%
3 years · compounded
▲ 55%
5 years · compounded
▲ 45%
Revenue fell 1% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 26%. EBITDA rose 20% 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 | ₹25.92 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹18.67 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 | 25% | ||||
| Net Profit Margin | 18% | ||||
| 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 Novo Excipients Private Limited, buy the company report.
Board of directors of Novo Excipients Private Limited
Novo Excipients has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Gautam Chandrakumar Shah Also directs: Eagle Chemical Works Private Limited, Metaverse Pharmaceuticals Private Limited, Vitamystic Healthcare Private Limited and 2 more | Managing Director | 01 Oct 2003 | 23 Years 1 Months | Current |
| Bimal Shantilal Doshi | Director | 14 Jun 2011 | 15 Years 4 Months | Current |
Peer comparison
Novo Excipients Private Limited is compared with the 10 companies closest to it by revenue in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Almelo Private Limited | ₹108.05 Cr (FY 2024) | 22.0% | Hyderabad, Telangana, India | |||
| Virdev Intermediates Private Limited | ₹107.72 Cr (FY 2025) | -3.0% | Surat, Gujarat, India | |||
| Panchsheel Organics Limited | ₹107.68 Cr (FY 2024) | 3.0% | Indore, Madhya Pradesh, India | |||
| Patel Chem Specialities Limited | ₹105.55 Cr (FY 2025) | 28.0% | Ahmedabad, Gujarat, India | |||
| Lucent Drugs Private Limited | ₹104.13 Cr (FY 2025) | 101.0% | Sanathnagar, Telangana, India | |||
| Novo Excipients Private Limitedthis company | ₹103.54 Cr (FY 2025) | ₹18.67 Cr | 18% | -1.0% | 135 | Mumbai, Maharashtra, India |
| Par Active Technologies Private Limited | ₹103.46 Cr (FY 2025) | 2.0% | Chennai, Tamil Nadu, India | |||
| Avik Pharmaceutical Limited | ₹103.38 Cr (FY 2025) | 29.0% | Mumbai, Maharashtra, India | |||
| Sriven Pharmachem India Private Limited | ₹102.76 Cr (FY 2025) | 2.0% | Hyderabad, Telangana, India | |||
| Vineet Life Sciences Limited | ₹101.85 Cr (FY 2024) | 48.0% | Hyderabad, Telangana, India | |||
| Sna Healthcare Private Limited | ₹101.57 Cr (FY 2025) | 17.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Novo Excipients Private Limited, buy the company report.
Auditor
Novo Excipients Private Limited is audited by Grishma J Bhalja & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Grishma J Bhalja & Co. | FY 2023 | 136102W |
Shareholding
The shareholding of Novo Excipients Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Novo Excipients Private Limited, buy the company report.
Charges & borrowings
Open charges
₹6 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 01 Jun 2018 | 100183927 | Hdfc Bank Limited | ₹6 Cr | Open |
To see the full charge records of Novo Excipients Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Novo Excipients Private Limited has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2019.
Total deals
4
Secondary share transfers
3
Acquisition
1
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2019 | Acquisition | Undisclosed | Buyer: an individual Seller: an individual |
| May 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jan 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2013 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Avery Bio-Degradable Products Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Novo Excipients Private Limited has 5 court cases on record: 5 filed by Novo Excipients. 3 cases are pending and 2 are disposed.
Total cases
5
Filed by the company
5
Pending
3
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 0 | 3 |
| High courts | 1 | 0 | 0 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Adkute Industries | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Civil suit | Filed by the company against Adilite Industries and 1 other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Civil suit | Filed by the company against Sun Plaster Systems and 1 other | Pending |
| High Court, MAHARASHTRA | Court case (COMMP) | Filed by the company against individuals | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed by the company against Adlite Industries and 1 other | Disposed |
To see the full case history of Novo Excipients Private 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
Novo Excipients Private Limited has 14 MSME Form 1 returns on record between 2019 and 2023, listing 252 overdue payments to 29 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 (5 of 29)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Saf Scientific Chemicals Private Limited | |||
| Accord Enviro Systems (India) Private Limited | |||
| Omkar Traders | |||
| an individual supplier |
To see the full MSME payment records of Novo Excipients Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Novo Excipients Private Limited has a workforce of 135 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Employee count
135
Active EPFO establishments
1
Employee growth
9.8%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 135 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Novo Excipients Private Limited, buy the company report.
GST
Novo Excipients has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCC3785B1ZU | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Novo Excipients Private Limited, buy the company report.
Recent activity
Novo Excipients Private Limited has 10 board changes on record since 2003: 6 appointments and 4 cessations. The latest: Mona Bimal Doshi ceased to be Director on 01 Dec 2024.
AGM
Novo Excipients Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Novo Excipients Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Ceased
Mona Bimal Doshi ceased to be Director.
Ceased
Sonal Gautam Shah ceased to be Director.
Charges
A charge with Hdfc Bank Limited of Rs. 600.00 Lakh registered on 01 Jun 2018 with Charge ID 100183927 was modified on 29 Jun 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 600.00 Lakh with Charge ID 100183927 was registered on 01 Jun 2018.
Ceased
Umang Bimal Doshi ceased to be Additional Director.
Appointed
Umang Bimal Doshi was appointed as Additional Director.
Appointed
Mona Bimal Doshi was appointed as Director.
Ceased
Nimish Vinod Shah ceased to be Director.
Appointed
Sonal Gautam Shah was appointed as Director.
Appointed
Bimal Shantilal Doshi was appointed as Director.
3 earlier events are in the company report.
Frequently asked questions
Novo Excipients is an active private limited company based in Mumbai, Maharashtra, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 01 October 2003 (23+ years old) and is registered under CIN U24230MH2003PTC142463.
Novo Excipients has 2 current directors:
- Gautam Chandrakumar Shah - Managing Director
- Bimal Shantilal Doshi - Director
The latest financial statements of Novo Excipients on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Novo Excipients is 27AACCC3785B1ZU, registered in Maharashtra.
The CIN (Corporate Identification Number) of Novo Excipients is U24230MH2003PTC142463. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Novo Excipients has 5 court cases on record: 5 filed by the company. 3 are pending. Most are in the district courts.
Novo Excipients was incorporated on 01 October 2003, making it 23+ years old. It is registered with the Registrar of Companies, Mumbai.
Novo Excipients has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2019.
The peers of Novo Excipients by revenue are Almelo Private Limited, Virdev Intermediates Private Limited, Panchsheel Organics Limited, Patel Chem Specialities Limited, Lucent Drugs Private Limited and 5 more, all in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Mona Bimal Doshi ceased to be Director on 01 Dec 2024. Sonal Gautam Shah ceased to be Director on 01 Dec 2024. Umang Bimal Doshi ceased to be Additional Director on 29 Sep 2017. Novo Excipients has 10 board changes on record in total.
Yes, Novo Excipients is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0021826).
Novo Excipients has 14 MSME Form 1 returns on record between 2019 and 2023, listing 252 overdue payments to 29 micro and small suppliers. The latest return was filed on 22 Nov 2023.
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