About Palvi Industries Limited
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Palvi Industries Limited is a public limited company based in Vadodara, Gujarat, India. It operates in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 27 January 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U51909GJ2006PLC047606. Its GSTIN is 24AADCP8242K1Z9 (Gujarat). The company holds 5 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹3.81 Cr. It was formerly known as Palvi Powertech Sales Private Limited and Palvi Industries Private Limited. It is led by directors including Himanshu Govindlal Mehta (Managing Director) and Alay Himanshu Mehta (Whole-Time Director).
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 228 Arpan Complex Opp. Hanuman Temple Nizampura, Vadodara, Gujarat, India – 390002.
As per the financials filed for FY 2025, the company reported a revenue of ₹543.65 Cr, a growth of 43% compared to the previous year. For the same year it recorded a net profit of ₹7.86 Cr (net margin 1.4%) and EBITDA of ₹19.94 Cr (EBITDA margin 3.7%). Revenue has grown at a compounded annual rate (CAGR) of 27% over three years and 22% over five years.
The company is associated with 1 brand: Palvi. As per MCA filings, the company has open charges of ₹134.93 Cr and satisfied charges of ₹188.06 Cr on record. The company has 8 deals on record (4 funding rounds, 4 secondary share transfers), with disclosed funding of ₹7.04 Cr; the latest was in November 2018. Its 5 peer companies in the Manufacturing industry (Plastics and Resins, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 3 larger and 2 smaller; the largest is Goldstab Organics Private Limited with revenue of ₹550.85 Cr. The company has 14 MSME Form 1 returns on record between 2019 and 2024, listing 102 overdue payments to 20 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website palvichemical.com.
Company details
Name history
Palvi Industries has undergone 2 name changes throughout its history. The company was previously known as Palvi Powertech Sales Private Limited, and Palvi Industries Private Limited. The current legal name is Palvi Industries Limited.
| Company Name | Status |
|---|---|
| Palvi Industries Limited | Current |
| Palvi Powertech Sales Private Limited | Previous |
| Palvi Industries Private Limited | Previous |
CIN history
Palvi Industries has one previous CIN (Corporate Identification Number): U51909GJ2006PTC047606. The current CIN is U51909GJ2006PLC047606, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51909GJ2006PLC047606 | Current |
| U51909GJ2006PTC047606 | Previous |
Contact details
Palvi Industries Limited's registered office is in Vadodara, Gujarat. Its website is palvichemical.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address228 Arpan Complex Opp. Hanuman Temple Nizampura, Vadodara, Gujarat, India – 390002
- IndustryChemicals and Materials, Specialty Chemicals
To see the full contact details of Palvi Industries 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
Brands
Palvi Industries operates one associated brand: Palvi. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Palvi Industries Limited: A leading manufacturer of industrial chemicals specializing in molybdenum solutions. | palvichemical.com |
Business activity
The main business activities of Palvi Industries are manufacturing and trade. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products and wholesale trading. 2 activity segments are registered with the MCA.
| 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 | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Palvi Industries Limited, buy the company report.
Financials of Palvi Industries Limited
FY 2025 filings availablePalvi Industries Limited reported revenue of ₹543.65 Cr (up 43% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 22% over five years, including 43% growth in the latest year. EBITDA rose 13% 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 |
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| Total Expenses | |||||
| EBITDA | ₹19.94 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹7.86 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3.7% | ||||
| Net Profit Margin | 1.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Quick Ratio | |||||
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| 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 Palvi Industries Limited, buy the company report.
Board of directors of Palvi Industries Limited
Palvi Industries has 6 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanjay Arvindbhai Shah Also directs: Graphene Composites LLP, Aksh Resources Private Limited | Director | 24 Jul 2019 | 7 Years 3 Months | Current |
| Himanshu Govindlal Mehta | Managing Director | 24 Oct 2018 | 8 Years 0 Months | Current |
| Shashidhar Sethumadhavachar Yelandur Also directs: Patona Consulting LLP, Turtleways Consultancy LLP | Director | 30 Sep 2019 | 7 Years 1 Months | Current |
| Ileshkumar Vyas | Director | 24 Jul 2019 | 7 Years 3 Months | Current |
| Alay Himanshu Mehta | Whole-Time Director | 02 Oct 2024 | 2 Years 1 Months | Current |
| Vibha Himanshu Mehta Also directs: Palvi Power Tech Sales Private Limited | Director | 27 Jan 2006 | 20 Years 9 Months | Current |
Peer comparison
Palvi Industries Limited is compared with the 5 companies closest to it by revenue in the Manufacturing industry (Plastics and Resins, Specialty Chemicals), 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 |
|---|---|---|---|---|---|---|
| Goldstab Organics Private Limited | ₹550.85 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| Ganga Rasayanie Pvt Ltd | ₹550.14 Cr (FY 2024) | 2.0% | Kolkata, West Bengal, India | |||
| Nitta Gelatin India Limited | ₹544.58 Cr (FY 2025) | 0.0% | Ernakulam, Kerala, India | |||
| Palvi Industries Limitedthis company | ₹543.65 Cr (FY 2025) | ₹7.86 Cr | 1.4% | 43.0% | Vadodara, Gujarat, India | |
| Sterling Auxiliaries Pvt Ltd | ₹527.08 Cr (FY 2024) | 32.0% | Mumbai, Maharashtra, India | |||
| Saptagir Camphor Private Limited | ₹523.92 Cr (FY 2025) | 3.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Palvi Industries Limited, buy the company report.
Auditor
Palvi Industries Limited is audited by K. C. MEHTA & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K. C. MEHTA & CO. | FY 2023 | 106237W |
Shareholding
The shareholding of Palvi Industries 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 Palvi Industries Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Jul 2023 | 100741030 | Hdfc Bank Limited | ₹27.5 Lakh | Open | |
| 06 Apr 2023 | 100710793 | Hdfc Bank Limited | ₹105.5 Cr | Open | |
| 14 Sep 2022 | 100614749 | Others | ₹4 Cr | Open | |
| 03 Jun 2022 | 100584481 | Others | ₹25 Cr | Open | |
| 30 Nov 2021 | 100521485 | Others | ₹15 Lakh | Open |
To see the full charge records of Palvi Industries Limited, buy the company report.
Total charge records: 13 View all charges
Deals & funding
Palvi Industries Limited has 8 deals on record (4 funding rounds, 4 secondary share transfers), with disclosed funding of ₹7.04 Cr; the latest was in November 2018.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Aug 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Himanshu Govindlal Mehta Family Trust Seller: an individual |
| Oct 2014 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Jul 2014 | Funding round | ₹4.05 Cr | Investors: Krushil Llc, 2 individuals |
To see the full deal history of Palvi Industries Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Palvi Industries Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
Credit ratings & regulatory alerts
Palvi Industries Limited was last rated by Crisil on 13 Sep 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 13 Sep 2021 |
To see the full credit ratings and regulatory alerts of Palvi Industries Limited, buy the company report.
MSME payment delays
Palvi Industries Limited has 14 MSME Form 1 returns on record between 2019 and 2024, listing 102 overdue payments to 20 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 20)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Surat Ammonia Supply Company | |||
| an individual supplier | |||
| an individual supplier | |||
| Sark Industries Private Limited | |||
| United Carbon Solutions Private Limited |
To see the full MSME payment records of Palvi Industries Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Palvi Industries has 5 GST registrations: 2 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AADCP8242K1Z9 | Gujarat | Active | 01 Jul 2017 |
| 24AADCP8242K1DI | Gujarat | Active | 23 Jan 2025 |
To see the full GST registrations and return filing status of Palvi Industries Limited, buy the company report.
Recent activity
Palvi Industries Limited has 9 board changes on record since 2006: 6 appointments and 3 cessations. The latest: Alay Himanshu Mehta was appointed as Whole-Time Director on 02 Oct 2024.
28 earlier events are in the company report.
Frequently asked questions
Palvi Industries is an active public limited company based in Vadodara, Gujarat, India. The company works in specialty chemicals, within the chemicals and materials industry. It was incorporated on 27 January 2006 (20+ years old) and is registered under CIN U51909GJ2006PLC047606.
Palvi Industries has 6 current directors:
- Himanshu Govindlal Mehta - Managing Director
- Alay Himanshu Mehta - Whole-Time Director
- Sanjay Arvindbhai Shah - Director
- Shashidhar Sethumadhavachar Yelandur - Director
- Ileshkumar Vyas - Director
- Vibha Himanshu Mehta - Director
The latest financial statements of Palvi Industries on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Palvi Industries is 24AADCP8242K1Z9, registered in Gujarat. The company has 5 GST registrations in all, of which 2 are active and 3 are cancelled or inactive. Other active GSTINs include 24AADCP8242K1DI (Gujarat).
The CIN (Corporate Identification Number) of Palvi Industries is U51909GJ2006PLC047606. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Palvi Industries was incorporated on 27 January 2006, making it 20+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Palvi Industries has 8 deals on record (4 funding rounds, 4 secondary share transfers), with disclosed funding of ₹7.04 Cr; the latest was in November 2018.
The peers of Palvi Industries by revenue are Goldstab Organics Private Limited, Ganga Rasayanie Pvt Ltd, Nitta Gelatin India Limited, Sterling Auxiliaries Pvt Ltd, Saptagir Camphor Private Limited, all in the Manufacturing industry (Plastics and Resins, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Alay Himanshu Mehta was appointed as Whole-Time Director on 02 Oct 2024. Himanshu Govindlal Mehta ceased to be Director on 30 Sep 2024. Govindlal Maganlal Mehta ceased to be Director on 04 Oct 2019. Palvi Industries has 9 board changes on record in total.
Palvi Industries has 14 MSME Form 1 returns on record between 2019 and 2024, listing 102 overdue payments to 20 micro and small suppliers. The latest return was filed on 24 Apr 2024.
Palvi Industries can be reached through the website palvichemical.com. Its registered office is in Vadodara, Gujarat, India.
The registered office of Palvi Industries is at 228 Arpan Complex Opp. Hanuman Temple Nizampura, Vadodara, Gujarat, India – 390002.
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