MSME (Udyam registered) Ministry of MSME
- Udyam number
- UDYAM-WB-10-0006532
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Nsi (India) Limited - manufacturing in West Bengal, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹207.75 Cr
▼ 4% YoY
Net profit · FY 2025
₹11.71 Cr
Net margin 5.6%
EBITDA · FY 2025
₹19.25 Cr
EBITDA margin 9.3%
Authorised capital
₹1 Cr
Registered with MCA
Paid-up capital
₹96.2 Lakh
Issued & subscribed
Open charges
₹67.92 Cr
Satisfied ₹14.44 Cr
Company age
45 yrs
Est. 1981
Employees · EPFO
191
Provident fund records
About Nsi (India) Limited
Data last updated:
Nsi (India) Limited is a public limited company based in West Bengal, India. It operates in the die casting and metal forming segment of the manufacturing sector. It was incorporated on 31 March 1981 and has been in existence for over 45 years.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U27109WB1981PLC033502. Its GSTIN is 19AAACN9225B1ZN (West Bengal). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹96.2 Lakh. It was formerly known as Nsi (India) Private Limited and Nandikeshwari Steel Industries Private Limited. It is led by directors including Harsh Madhogaria (Whole-Time Director) and Sharda Madhogaria (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Beltala Chamrail Howrah – 711 – 323. W.E.F.01/08/98. P.S.Liluah., West Bengal, India.
As per the financials filed for FY 2025, the company reported a revenue of ₹207.75 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net profit of ₹11.71 Cr (net margin 5.6%) and EBITDA of ₹19.25 Cr (EBITDA margin 9.3%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 13% over five years.
The company has about 191 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹67.92 Cr and satisfied charges of ₹14.44 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company; 2 cases are pending.
Nsi (India) Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-WB-10-0006532). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website nsilimited.com.
Company Details of Nsi (India) Limited
CIN U27109WB1981PLC033502
Registration Number 033502
Incorporation Date 31 March 1981
ROC Kolkata
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-WB-10-0006532
Name History of Nsi (India) Limited
Nsi (India) has undergone 2 name changes throughout its history. The company was previously known as Nsi (India) Private Limited, and Nandikeshwari Steel Industries Private Limited. The current legal name is Nsi (India) Limited.
| Company Name | Status |
|---|---|
| Nsi (India) Limited | Current |
| Nsi (India) Private Limited | Previous |
| Nandikeshwari Steel Industries Private Limited | Previous |
CIN History of Nsi (India) Limited
Nsi (India) has one previous CIN (Corporate Identification Number): U27109WB1981PTC033502. The current CIN is U27109WB1981PLC033502, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U27109WB1981PLC033502 | Current |
| U27109WB1981PTC033502 | Previous |
Key People
Harsh Madhogaria Whole-Time Director Sharda Madhogaria Whole-Time Director Ajoy Kumar Madhogaria Whole-Time Director Recognitions & Rankings of Nsi (India)
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressBeltala Chamrail Howrah – 711 – 323. W.E.F.01/08/98. P.S.Liluah., West Bengal, India
- IndustryManufacturing, Die Casting & Metal Forming
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Business Activity of Nsi (India) Limited
The main business activities of Nsi (India) are manufacturing and trade. In detail, this covers metal and metal products, plastic products, non-metallic mineral products, rubber products, fabricated metal products and wholesale trading. 3 activity segments are registered with the MCA.
| 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 |
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products | Locked |
| G | Trade | G1 | Wholesale Trading | Locked |
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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 Nsi (India) Limited FY 2024 filings available
Nsi (India) Limited reported revenue of ₹207.75 Cr (down 4% YoY) for FY 2025.
Revenue · FY 2025
₹207.75 Cr ▼ 4%
Net profit · FY 2025
₹11.71 Cr margin 5.6%
EBITDA · FY 2025
₹19.25 Cr margin 9.3%
Compounded Annual Growth Rate (CAGR) of Nsi (India) Limited
Revenue CAGR growth
1 year
▼ 4%
3 years · compounded
▲ 9%
5 years · compounded
▲ 13%
EBITDA CAGR growth
1 year
▲ 22%
3 years · compounded
▲ 28%
5 years · compounded
▲ 17%
Revenue fell 4% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 13%. EBITDA rose 22% 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 Nsi (India) 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 | ₹19.25 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹11.71 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 Nsi (India) Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 9.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 5.6% | •••• | •••• | •••• | •••• |
| 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 Nsi (India) are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
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Board of Directors of Nsi (India) Limited
Nsi (India) has 6 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahesh Agarwala | Director | 24 Jun 2019 | 7 Years 3 Months | Current |
| Chandan Gupta Also directs: Swasth Foodtech India Limited, Vijay Textiles Ltd, Merrygold Mercantiles Ltd and 1 more | Director | 30 Dec 2020 | 5 Years 9 Months | Current |
| Harsh Madhogaria Also directs: Nsi Logistics Private Limited, Nsi Metals Private Limited, Nsi Castings Private Limited and 1 more | Whole-Time Director | 03 Nov 2006 | 19 Years 11 Months | Current |
| Sharda Madhogaria Also directs: Samridhi Vinimay Private Limited, Nsi Logistics Private Limited | Whole-Time Director | 31 Mar 1981 | 45 Years 6 Months | Current |
| Navansh Shah Also directs: Varan Homestays LLP, Felicity Manufacturing Private Limited | Director | 24 Jun 2019 | 7 Years 3 Months | Current |
| Ajoy Kumar Madhogaria Also directs: Samridhi Vinimay Private Limited, Nsi Logistics Private Limited, Nsi Metals Private Limited and 3 more | Whole-Time Director | 27 Sep 2006 | 20 Years 0 Months | Current |
Peer Comparison of Nsi (India) Limited
Nsi (India) Limited is compared with the companies closest to it by revenue in the Manufacturing industry (Die Casting). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kyowa Castec India Private Limited | ₹222.13 Cr (FY 2025) | •••• | •••• | 10.0% | •••• | Kancheepuram, Tamil Nadu, India |
| Amcon Castings Private Limited | ₹221.87 Cr (FY 2025) | •••• | •••• | 54.0% | •••• | Lodhika, Gujarat, India |
| Kovilpatti Lakshmi Roller Flour Mills Limited Listed | ₹219.98 Cr (FY 2018) | •••• | •••• | -3.0% | •••• | Tirunelveli, Tamil Nadu, India |
| Shivalik Auto Engineering Private Limited | ₹212.27 Cr (FY 2023) | •••• | •••• | 90.0% | •••• | Raipur, Chhattisgarh, India |
| Rapsri Engineering Products Company Private Limited | ₹209.65 Cr (FY 2025) | •••• | •••• | 40.0% | •••• | Ramanagara, Karnataka, India |
| Nsi (India) Limited this company | ₹207.75 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | West Bengal, India |
| Mutha Founders Pvt Ltd | ₹203.7 Cr (FY 2025) | •••• | •••• | -2.0% | •••• | Satara, Maharashtra, India |
| Uni-Abex Alloy Products Limited Listed | ₹200.07 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Mumbai, Maharashtra, India |
| Amsteel Castings Private Limited | ₹199.64 Cr (FY 2025) | •••• | •••• | -28.0% | •••• | Chennai, Tamil Nadu, India |
| Indo Shell Cast Private Limited | ₹199.15 Cr (FY 2025) | •••• | •••• | -3.0% | •••• | Tamil Nadu, India |
| Oremet Alloys and Castings Limited | ₹198.6 Cr (FY 2025) | •••• | •••• | -22.0% | •••• | Ajmer, Rajasthan, India |
Peers are the five companies nearest above and the five nearest below Nsi (India) by revenue in the Manufacturing industry (Die Casting), 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 Nsi (India) Limited
Nsi (India) Limited is audited by D. Sikaria & Co. for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| D. Sikaria & Co. | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Nsi (India) Limited
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Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Nsi (India) Limited
Open charges
₹67.92 Cr
Satisfied charges
₹14.44 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 01 Jul 2022 | Yes Bank Limited | ₹19 Lakh | Open |
| 11 Jul 2019 | Hdfc Bank Limited | ₹11.46 Cr | Open |
| 08 Oct 2013 | Axis Bank Limited | ₹1 Cr | Open |
| 31 Dec 2010 | Axis Bank Limited | ₹55.27 Cr | Open |
| 30 Mar 2022 | Others | ₹8.8 Lakh | Satisfied |
Total charge records: 6 View all charges
Legal Cases of Nsi (India) Limited
Nsi (India) Limited has 5 court cases on record: 5 filed by Nsi (India). 2 cases are pending and 3 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Total cases
5
Filed by the company
5
Pending
2
Disposed
3
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 0 | 1 |
| District courts | 2 | 0 | 1 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Purba Bardhaman, West Bengal | Civil suit | Filed by the company against Himshila Ferro Alloys Private Limited | Disposed |
| Calcutta High Court | Writ petition | Filed by the company against Assistant Commissioner of Income Tax, Central Circle 2(3), Kolkata | Pending |
| District court, South Twenty Four Parganas, West Bengal | Civil suit | Filed by the company against an individual | Pending |
| Calcutta High Court | Court case (FMA) | Filed by the company against Himshila Ferro Alloys (Pvt.) Ltd | Disposed |
| Calcutta High Court | Writ petition | Filed by the company against State of West Bengal & Ors | Disposed |
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Full case history
All 5 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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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 by Nsi (India) Limited
Nsi (India) Limited has 12 MSME Form 1 returns on record between 2019 and 2023, listing 684 overdue payments to 11 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 11)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Shree Paharimata Enterprises Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Suyash Solutions Private Limited | •••• | •••• | •••• |
| Premier Iron & Steel Works Pvt Ltd | •••• | •••• | •••• |
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Full MSME payment history
Every supplier, amount and due date from all 12 MSME Form 1 returns is in the company report.
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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Nsi (India) Limited
Nsi (India) Limited has a workforce of 191 employees as of Mar 20, 2025.
Employee count
191
Active EPFO establishments
1
Employee growth
17.18%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
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Group Structure of Nsi (India) Limited
Nsi (India) has 4 associated companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
4
Associated companies
Recent Activity on Nsi (India) Limited
Nsi (India) Limited has 14 board changes on record since 1981: 6 appointments and 8 cessations. The latest: Chandan Gupta ceased to be Additional Director on 30 Sep 2021.
Charges
A charge registered on 30 Mar 2022 via Charge ID 100564716 with Others was fully satisfied on 20 Jun 2025.
Charges
A charge with Axis Bank Limited of Rs. 55.27 Cr registered on 31 Dec 2010 with Charge ID 10267399 was modified on 24 Dec 2024.
AGM
Nsi (India) Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Nsi (India) Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Kolkata.
Charges
A charge with Yes Bank Limited amounted to Rs. 0.19 Cr with Charge ID 100593401 was registered on 01 Jul 2022.
Charges
A charge with Others amounted to Rs. 0.09 Cr with Charge ID 100564716 was registered on 30 Mar 2022.
Ceased
Chandan Gupta ceased to be Additional Director.
Appointed
Chandan Gupta was appointed as Director.
Charges
A charge with Hdfc Bank Limited of Rs. 11.46 Cr registered on 11 Jul 2019 with Charge ID 100307371 was modified on 22 Sep 2020.
Ceased
Abhijit Biswas ceased to be Additional Director.
Ceased
Mahesh Agarwala ceased to be Additional Director.
Ceased
Navansh Shah ceased to be Additional Director.
16 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Nsi (India) Limited
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Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
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Subsidiaries & Group Companies of Nsi (India) Limited
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Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
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GST Compliance of Nsi (India) Limited
Nsi (India) has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AAACN9225B1ZN | West Bengal | Active | 01 Jul 2017 |
| 19AAACN9225B1DW | West Bengal | Active | 14 Nov 2024 |
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MCA Filings & Documents of Nsi (India) Limited
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MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
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Frequently Asked Questions about Nsi (India) Limited
Nsi (India) is an active public limited company based in West Bengal, India. The company works in die casting and metal forming, within the manufacturing industry. It was incorporated on 31 March 1981 (45+ years old) and is registered under CIN U27109WB1981PLC033502.
Nsi (India) reported revenue of ₹207.75 Cr for FY 2025 (down 4% YoY).
Nsi (India) has 6 current directors:
- Harsh Madhogaria - Whole-Time Director
- Sharda Madhogaria - Whole-Time Director
- Ajoy Kumar Madhogaria - Whole-Time Director
- Mahesh Agarwala - Director
- Chandan Gupta - Director
- Navansh Shah - Director
Nsi (India) reported a net profit of ₹11.71 Cr (net margin 5.6%) and EBITDA of ₹19.25 Cr (EBITDA margin 9.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Nsi (India) is 9% over three years and 13% over five years. In the latest year (FY 2025) revenue fell 4%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Nsi (India) is 19AAACN9225B1ZN, registered in West Bengal. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 19AAACN9225B1DW (West Bengal).
The CIN (Corporate Identification Number) of Nsi (India) is U27109WB1981PLC033502. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Nsi (India) has 5 court cases on record: 5 filed by the company. 2 are pending. Most are in the high courts.
Nsi (India) was incorporated on 31 March 1981, making it 45+ years old. It is registered with the Registrar of Companies, Kolkata.
The peers of Nsi (India) by revenue are Kyowa Castec India Private Limited, Amcon Castings Private Limited, Kovilpatti Lakshmi Roller Flour Mills Limited, Shivalik Auto Engineering Private Limited, Rapsri Engineering Products Company Private Limited and 5 more, all in the Manufacturing industry (Die Casting).
Chandan Gupta ceased to be Additional Director on 30 Sep 2021. Chandan Gupta was appointed as Director on 30 Dec 2020. Abhijit Biswas ceased to be Additional Director on 30 Sep 2019. Nsi (India) has 14 board changes on record in total.
Yes, Nsi (India) is registered as an MSME under Udyam registration (number: UDYAM-WB-10-0006532).