MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-24-0023366
Pan Drugs Limited - pharma in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹1.12 Cr
▼ 19% YoY
Net profit · FY 2025
₹2.37 Lakh
Net margin 2.1%
EBITDA · FY 2025
₹19.06 Lakh
EBITDA margin 17%
Authorised capital
₹5.5 Cr
Registered with MCA
Paid-up capital
₹3.14 Cr
Issued & subscribed
Open charges
₹28.43 Lakh
Satisfied ₹45.08 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
34
Provident fund records
About Pan Drugs Limited
Data last updated:
Pan Drugs Limited is a public limited company based in Vadodara, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 16 November 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24230GJ1993PLC020671. Its GSTIN is 24AABCP1997K1Z3 (Gujarat).
The company has an authorised share capital of ₹5.5 Cr and a paid-up capital of ₹3.14 Cr. It is led by directors including Atul Natwarlal Pandya and Parag Vamanray Raval.
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 301 312 World Trade Center Sayajigunj, Vadodara, Gujarat, India – 390007.
As per the financials filed for FY 2025, the company reported a revenue of ₹1.12 Cr, a decline of 19% compared to the previous year. For the same year it recorded a net profit of ₹2.37 Lakh (net margin 2.1%) and EBITDA of ₹19.06 Lakh (EBITDA margin 17%). Revenue has declined at a compounded annual rate (CAGR) of 77% over three years and 50% over five years.
The company has about 34 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Pan Drugs. As per MCA filings, the company has open charges of ₹28.43 Lakh and satisfied charges of ₹45.08 Cr on record. Court records list 66 cases involving the company, including 39 filed by the company and 27 filed against it; 7 cases are pending.
Pan Drugs Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0023366). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website pandrugsltd.com.
Company details
CIN U24230GJ1993PLC020671
Registration Number 020671
Incorporation Date 16 November 1993
ROC Ahmedabad
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-GJ-24-0023366
CIN history
Pan Drugs has one previous CIN (Corporate Identification Number): L24230GJ1993PLC020671. The current CIN is U24230GJ1993PLC020671, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24230GJ1993PLC020671 | Current |
| L24230GJ1993PLC020671 | Previous |
Key People
Atul Natwarlal Pandya Director Parag Vamanray Raval Director Kamal Natwarlal Pandya Director Recognitions & Rankings of Pan Drugs
Contact details
Pan Drugs Limited's registered office is in Vadodara, Gujarat. Its website is pandrugsltd.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address301 312 World Trade Center Sayajigunj, Vadodara, Gujarat, India – 390007
- IndustryPharma, Drug Formulation & Development, API Manufacturers
To see the full contact details of Pan Drugs Limited, buy the company report.
Comprehensive company report
Pan Drugs 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
Pan Drugs operates one associated brand: Pan Drugs. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufactures generic Active Pharmaceutical Ingredients and offers contract services worldwide. | pandrugsltd.com |
Business activity
The main business activity of Pan Drugs 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 Pan Drugs Limited, buy the company report.
Financials of Pan Drugs Limited
FY 2025 filings availablePan Drugs Limited reported revenue of ₹1.12 Cr (down 19% YoY) for FY 2025.
Revenue · FY 2025
₹1.12 Cr ▼ 19%
Net profit · FY 2025
₹2.37 Lakh margin 2.1%
EBITDA · FY 2025
₹19.06 Lakh margin 17%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 19%
3 years · compounded
▼ 77%
5 years · compounded
▼ 50%
EBITDA CAGR growth
1 year
▲ 687%
3 years · compounded
▼ 50%
5 years · compounded
▼ 53%
Revenue has declined at a compounded annual rate (CAGR) of 50% over five years, including a 19% fall in the latest year. EBITDA rose 687% 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 | ₹19.06 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹2.37 Lakh | ||||
| 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 | 17% | ||||
| Net Profit Margin | 2.1% | ||||
| 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 Pan Drugs Limited, buy the company report.
Board of directors of Pan Drugs Limited
Pan Drugs has 5 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Atul Natwarlal Pandya Also directs: Jiarzu Pharmavit Private Limited | Director | 31 Jul 2007 | 19 Years 3 Months | Current |
| Parag Vamanray Raval Also directs: Pragsun Infrastructure Private Limited | Director | 10 May 2018 | 8 Years 5 Months | Current |
| Kamal Natwarlal Pandya Also directs: Jiarzu Pharmavit Private Limited | Director | 16 Nov 1993 | 32 Years 11 Months | Current |
| Hemant Gajanand Upadhyay | Director | 31 May 2003 | 23 Years 5 Months | Current |
| Rushiraj Atulbhai Pandya | Additional Director | 10 Mar 2025 | 1 Years 7 Months | Current |
Auditor
Pan Drugs Limited is audited by K.J. Shah & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K.J. Shah & Co | FY 2023 | 132369W |
Shareholding
The shareholding of Pan Drugs 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 Pan Drugs Limited, buy the company report.
Charges & borrowings
Open charges
₹28.43 Lakh
Satisfied charges
₹45.08 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Dec 2021 | 100527683 | Hdfc Bank Limited | ₹28.43 Lakh | Open | |
| 20 Oct 2001 | 80064699 | State Band of Hydrabad | ₹3 Cr | Satisfied | |
| 13 Sep 2000 | 90099257 | Anyonya Co - Operative Bank Ltd. | ₹1 Cr | Satisfied | |
| 31 Mar 2000 | 90096656 | Idbi Bank Ltd. | ₹11 Cr | Satisfied | |
| 03 Dec 1999 | 90096643 | Idbi Bank Ltd. | ₹8.5 Cr | Satisfied |
To see the full charge records of Pan Drugs Limited, buy the company report.
Total charge records: 13 View all charges
Legal cases
Pan Drugs Limited has 66 court cases on record: 39 filed by Pan Drugs, 27 filed against it. 7 cases are pending and 59 are disposed.
Total cases
66
Filed by the company
39
Filed against the company
27
Pending
7
Disposed
59
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 56 | 25 | 6 |
| High courts | 9 | 2 | 1 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 66)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Special civil application | Filed against the company by Madhya Gujarat Vij Co. Ltd. and 3 others | Pending |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed against the company by K. K. Fuels Pvt Ltd. Through Its Auth. Director Mr. Murlidhar M. Lakhiani | Disposed |
| District court, Vadodara, Gujarat | Commercial matter | Filed by the company against I.D.B.I. Bank Ltd. and 2 others | Disposed |
| District court, Navsari, Gujarat | Criminal complaint | Filed against the company by Harsh Himanshu Patel Director of H L E Engineers Pvt Ltd | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Chairman , Madhya Gujarat Vij Company Limited and 1 other | Disposed |
To see the full case history of Pan Drugs 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
Pan Drugs Limited has 8 MSME Form 1 returns on record between 2019 and 2024, listing 195 overdue payments to 80 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 80)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Shiv Bio Coal | |||
| Delta Engineers | |||
| an individual supplier | |||
| an individual supplier | |||
| Halol Packing Wood Industries |
To see the full MSME payment records of Pan Drugs Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Pan Drugs Limited has a workforce of 34 employees on its EPFO records as of Mar 29, 2024, across 2 active EPFO establishments.
Employee count
34
Active EPFO establishments
2
Employee growth
9.68%
GST
Pan Drugs has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCP1997K1Z3 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Pan Drugs Limited, buy the company report.
Recent activity
Pan Drugs Limited has 14 board changes on record since 1993: 5 appointments and 9 cessations. The latest: Rushiraj Atulbhai Pandya was appointed as Additional Director on 10 Mar 2025.
AGM
Pan Drugs Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Pan Drugs Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Appointed
Rushiraj Atulbhai Pandya was appointed as Additional Director.
Ceased
Kamal Natwarlal Pandya ceased to be Managing Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.28 Cr with Charge ID 100527683 was registered on 31 Dec 2021.
Charges
A charge registered on 13 Sep 2000 via Charge ID 90099257 with Anyonya Co - Operative Bank Ltd. was fully satisfied on 23 Jan 2020.
Charges
A charge registered on 15 Oct 1998 via Charge ID 90096565 with Anyonya Sahakari Mandli Co - Op. Bank Ltd. was fully satisfied on 23 Jan 2020.
Charges
A charge registered on 28 Oct 1996 via Charge ID 90098501 with Anyonya Sahayakari Mandli Co - Operative Bank Ltd. was fully satisfied on 23 Jan 2020.
Charges
A charge registered on 24 Oct 1996 via Charge ID 90096437 with Anyonya Co - Op. Bank Ltd. was fully satisfied on 23 Jan 2020.
Appointed
Parag Vamanray Raval was appointed as Director.
Ceased
Braahmoy Caet Dasny Vaz ceased to be Director.
Ceased
Parag Vamanray Raval ceased to be Director.
37 earlier events are in the company report.
Frequently asked questions
Pan Drugs is an active public limited company based in Vadodara, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 16 November 1993 (33+ years old) and is registered under CIN U24230GJ1993PLC020671.
Pan Drugs has 5 current directors:
- Atul Natwarlal Pandya - Director
- Parag Vamanray Raval - Director
- Kamal Natwarlal Pandya - Director
- Hemant Gajanand Upadhyay - Director
- Rushiraj Atulbhai Pandya - Additional Director
The latest financial statements of Pan Drugs 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 Pan Drugs is 24AABCP1997K1Z3, registered in Gujarat.
The CIN (Corporate Identification Number) of Pan Drugs is U24230GJ1993PLC020671. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Pan Drugs has 66 court cases on record: 39 filed by the company and 27 filed against it. 7 are pending. Most are in the district courts.
Pan Drugs was incorporated on 16 November 1993, making it 33+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Rushiraj Atulbhai Pandya was appointed as Additional Director on 10 Mar 2025. Kamal Natwarlal Pandya ceased to be Managing Director on 30 Sep 2023. Parag Vamanray Raval was appointed as Director on 10 May 2018. Pan Drugs has 14 board changes on record in total.
Yes, Pan Drugs is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-24-0023366).
Pan Drugs has 8 MSME Form 1 returns on record between 2019 and 2024, listing 195 overdue payments to 80 micro and small suppliers. The latest return was filed on 04 Jun 2024.
Pan Drugs can be reached through the website pandrugsltd.com. Its registered office is in Vadodara, Gujarat, India.
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