India's Richest People 2026 edition · 2 directors · Source: Hurun India
- #1,482 Shivlal Goyal & family ₹1,400 Cr
- #1,545 Surender Kumar Goyal & family ₹1,300 Cr
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Revenue · FY 2025
₹1,643.14 Cr
▲ 29% YoY
Net profit · FY 2025
₹138.99 Cr
Net margin 8.5%
EBITDA · FY 2025
₹277.53 Cr
EBITDA margin 16.9%
Authorised capital
₹21 Cr
Registered with MCA
Paid-up capital
₹14.39 Cr
Issued & subscribed
Open charges
₹365.51 Cr
Satisfied ₹684.37 Cr
Company age
28 yrs
Est. 1998
Employees · EPFO
783
Provident fund records
About Panoli Intermediates (India) Private Limited
Data last updated:
Panoli Intermediates (India) Private Limited is a private limited company based in New Delhi, Delhi, India. It operates in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 15 October 1998 and has been in existence for over 28 years.
Its director Shivlal Goyal and family are #1,482 among India's richest people (2026). Its director Surender Kumar Goyal and family are #1,545 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U24117DL1998PTC096701. Its GSTIN is 24AABCP4665N1Z2 (Gujarat). The company holds 4 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹21 Cr and a paid-up capital of ₹14.39 Cr. It is led by directors including Shivlal Goyal and Surender Kumar Goyal.
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 Flat No – 105 Mohta Bluding Ist Floor Bhikaji Cama Place, New Delhi, Delhi, India.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,643.14 Cr, a growth of 29% compared to the previous year. For the same year it recorded a net profit of ₹138.99 Cr (net margin 8.5%) and EBITDA of ₹277.53 Cr (EBITDA margin 16.9%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 7% over five years.
The company has about 783 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Panoli Intermediates and Kutch Chemical Industries. As per MCA filings, the company has open charges of ₹365.51 Cr and satisfied charges of ₹684.37 Cr on record. Court records list 29 cases involving the company, including 13 filed by the company and 16 filed against it; 7 cases are pending. The company has 11 deals on record (8 secondary share transfers, 3 funding rounds), with disclosed funding of ₹16.04 Cr; the latest was in March 2020. Its 4 peer companies in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 1 larger and 3 smaller; the largest is TGV Sraac Limited with revenue of ₹1,763.22 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website panoliindia.com.
Company details
CIN U24117DL1998PTC096701
Registration Number 096701
Incorporation Date 15 October 1998
ROC Delhi
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Recognitions & Rankings of Panoli Intermediates (India)
Contact details
Panoli Intermediates (India) Private Limited's registered office is in New Delhi, Delhi. Its website is panoliindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressFlat No – 105 Mohta Bluding Ist Floor Bhikaji Cama Place, New Delhi, Delhi, India
- IndustryChemicals and Materials, Specialty Chemicals
To see the full contact details of Panoli Intermediates (India) Private Limited, buy the company report.
Comprehensive company report
Panoli Intermediates (India) 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
Panoli Intermediates (India) operates two associated brands: Panoli Intermediates and Kutch Chemical Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of sulfonation, hydrogenation, ethoxylation, and ammonolysis | kcil.co.in | |
| Chemical manufacturing focusing on chlorination and nitration processes in Gujarat. | panoliindia.com |
Business activity
The main business activity of Panoli Intermediates (India) 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 Panoli Intermediates (India) Private Limited, buy the company report.
Financials of Panoli Intermediates (India) Private Limited
FY 2025 filings availablePanoli Intermediates (India) Private Limited reported revenue of ₹1,643.14 Cr (up 29% YoY) for FY 2025.
Revenue · FY 2025
₹1,643.14 Cr ▲ 29%
Net profit · FY 2025
₹138.99 Cr margin 8.5%
EBITDA · FY 2025
₹277.53 Cr margin 16.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 29%
3 years · compounded
▼ 9%
5 years · compounded
▲ 7%
EBITDA CAGR growth
1 year
▲ 19%
3 years · compounded
▼ 28%
5 years · compounded
▲ 4%
Revenue has grown at a compounded annual rate (CAGR) of 7% over five years, including 29% growth in the latest year. EBITDA rose 19% 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 | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹277.53 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹138.99 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Fixed Assets | |||||
| Investments | |||||
| 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 | 16.9% | ||||
| Net Profit Margin | 8.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity 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 Panoli Intermediates (India) Private Limited, buy the company report.
Board of directors of Panoli Intermediates (India) Private Limited
Panoli Intermediates (India) has 5 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivlal Goyal Also directs: Ruchi Petro Chemicals Limited, Shiv Chloro Alkalies Limited, Ruchi Petro Plast Private Limited and 5 more | Director | 15 Jun 2005 | 21 Years 4 Months | Current |
| Surender Kumar Goyal Also directs: Kutch Oil Industries Private Limited, Ruchi Petro Chemicals Limited, Ruchi Petro Plast Private Limited and 5 more | Director | 15 Oct 1998 | 28 Years 0 Months | Current |
| Kailash Chander Goyal Also directs: Arg Assets Advisors LLP, Kutch Oil Industries Private Limited, Ruchi Petro Chemicals Limited and 5 more | Director | 30 Apr 2019 | 7 Years 6 Months | Current |
| Ankit Shivlal Goyal Also directs: I S Dyestuff Industries Ltd, Nandesari Drugs and Pharmaceuticals Private Limited, Kamdhenu Biogas LLP and 3 more | Additional Director | 15 Sep 2020 | 6 Years 1 Months | Current |
| Vijender Goel Also directs: Kutch Chemical Industries Limited, Kutch Specialities Private Limited, PCG Chemicals Specialities Private Limited and 5 more | Director | 11 Aug 2017 | 9 Years 2 Months | Current |
Peer comparison
Panoli Intermediates (India) Private Limited is compared with the 4 companies closest to it by revenue in the Chemicals industry (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 |
|---|---|---|---|---|---|---|
| TGV Sraac Limited | ₹1,763.22 Cr (FY 2025) | 13.0% | Kurnool, Andhra Pradesh, India | |||
| Panoli Intermediates (India) Private Limitedthis company | ₹1,643.14 Cr (FY 2025) | ₹138.99 Cr | 8.5% | 29.0% | 783 | New Delhi, Delhi, India |
| Alkyl Amines Chemicals Limited | ₹1,601.62 Cr (FY 2025) | 10.0% | Navi Mumbai, Maharashtra, India | |||
| Aquapharm Chemicals Private Limited | ₹1,571.7 Cr (FY 2024) | -23.0% | Pune, Maharashtra, India | |||
| Jesons Industries Limited | ₹1,536.53 Cr (FY 2025) | 3.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Panoli Intermediates (India) Private Limited, buy the company report.
Auditor
Panoli Intermediates (India) Private Limited is audited by SAR & COMPANY for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SAR & COMPANY | FY 2024 | 017168C |
Shareholding
The shareholding of Panoli Intermediates (India) 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 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Panoli Intermediates (India) Private Limited, buy the company report.
Charges & borrowings
Open charges
₹365.51 Cr
Satisfied charges
₹684.37 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2019 | 100256795 | Others | ₹42.51 Cr | Open | |
| 31 Mar 2006 | 10002815 | State Bank of India | ₹323 Cr | Open | |
| 30 Mar 2018 | 100224799 | Others | ₹65 Cr | Satisfied | |
| 18 Jan 2018 | 100160909 | Others | ₹500 Cr | Satisfied | |
| 20 Jan 2003 | 90049556 | Bank of Baroda | ₹18.94 Cr | Satisfied |
To see the full charge records of Panoli Intermediates (India) Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Panoli Intermediates (India) Private Limited has 11 deals on record (8 secondary share transfers, 3 funding rounds), with disclosed funding of ₹16.04 Cr; the latest was in March 2020.
Total deals
11
Secondary share transfers
8
Funding rounds
3
Disclosed funding
₹16.04 Cr
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 4 individuals |
| Dec 2018 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| Mar 2012 | Secondary share transfer | Undisclosed | Buyer: Pc Goel Huf, J P Goel HUF, 2 individuals Seller: I S Dyestuff Industries Ltd , an individual |
| Feb 2009 | Funding round | ₹3.99 Cr | Investors: Shiv Lal Goel Huf, Mexit (India) Private Ltd , Pc Goel Huf, an individual |
| Dec 2006 | Funding round | ₹4.94 Cr | Investors: I S Dyestuff Industries Ltd , an individual |
To see the full deal history of Panoli Intermediates (India) Private 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
Panoli Intermediates (India) Private Limited has 29 court cases on record: 13 filed by Panoli Intermediates (India), 16 filed against it. 7 cases are pending and 22 are disposed.
Total cases
29
Filed by the company
13
Filed against the company
16
Pending
7
Disposed
22
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 11 | 7 |
| High courts | 7 | 4 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 29)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Criminal complaint | Filed by the company against M/S Magma Industries Limited (Cin U24129up1999plc02444 and 2 others | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against The Official Liquidator of M/S. Kanoria Dyechem Ltd ( in Liq) | Disposed |
| District court, Chandigarh | Execution petition | Filed by the company against Shemrock Organics Pvt Ltd | Disposed |
| District court, Vadodara, Gujarat | Commercial matter | Filed by the company against Benzo-Chem Industries Proprietor of Jashvantsinh Chandrasinh Raj | Disposed |
| High Court, GUJARAT | Special civil application | Filed against the company by Lanxess India Private Limited | Disposed |
To see the full case history of Panoli Intermediates (India) 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.
Credit ratings & regulatory alerts
Panoli Intermediates (India) Private Limited was last rated by Care on 04 Apr 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 04 Apr 2023 |
To see the full credit ratings and regulatory alerts of Panoli Intermediates (India) Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Panoli Intermediates (India) Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Panoli Intermediates (India) Private Limited has a workforce of 783 employees on its EPFO records as of Mar 02, 2025, across 2 active EPFO establishments.
Employee count
783
Active EPFO establishments
2
Employee growth
-2.37%
GST
Panoli Intermediates (India) has 4 GST registrations: 2 active and 2 cancelled or inactive.
Total GSTINs
4
Active
2
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCP4665N1Z2 | Gujarat | Active | 01 Jul 2017 |
| 23AABCP4665N2Z3 | Madhya Pradesh | Active | 03 Aug 2021 |
To see the full GST registrations and return filing status of Panoli Intermediates (India) Private Limited, buy the company report.
Recent activity
Panoli Intermediates (India) Private Limited has 10 board changes on record since 1998: 5 appointments and 5 cessations. The latest: Ankit Shivlal Goyal was appointed as Additional Director on 15 Sep 2020.
AGM
Panoli Intermediates (India) Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with State Bank Of India of Rs. 323.00 Cr registered on 31 Mar 2006 with Charge ID 10002815 was modified on 26 Jun 2025.
Filing
Panoli Intermediates (India) Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Delhi.
Charges
A charge registered on 18 Jan 2018 via Charge ID 100160909 with Others was fully satisfied on 13 Mar 2025.
Charges
A charge registered on 30 Mar 2018 via Charge ID 100224799 with Others was fully satisfied on 17 Feb 2023.
Appointed
Ankit Shivlal Goyal was appointed as Additional Director.
Appointed
Kailash Chander Goyal was appointed as Director.
Ceased
Kailash Chander Goyal ceased to be Additional Director.
Charges
A charge with Others amounted to Rs. 42.51 Cr with Charge ID 100256795 was registered on 20 Feb 2019.
Ceased
Surender Kumar Goyal ceased to be Director.
Ceased
Vijender Goel ceased to be Additional Director.
Charges
A charge with Others amounted to Rs. 65.00 Cr with Charge ID 100224799 was registered on 30 Mar 2018.
15 earlier events are in the company report.
Frequently asked questions
Panoli Intermediates (India) is an active private limited company based in New Delhi, Delhi, India. The company works in specialty chemicals, within the chemicals and materials industry. It was incorporated on 15 October 1998 (28+ years old) and is registered under CIN U24117DL1998PTC096701.
Panoli Intermediates (India) has 5 current directors:
- Shivlal Goyal - Director
- Surender Kumar Goyal - Director
- Kailash Chander Goyal - Director
- Ankit Shivlal Goyal - Additional Director
- Vijender Goel - Director
The latest financial statements of Panoli Intermediates (India) 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 Panoli Intermediates (India) is 24AABCP4665N1Z2, registered in Gujarat. The company has 4 GST registrations in all, of which 2 are active and 2 are cancelled or inactive. Other active GSTINs include 23AABCP4665N2Z3 (Madhya Pradesh).
The CIN (Corporate Identification Number) of Panoli Intermediates (India) is U24117DL1998PTC096701. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Panoli Intermediates (India) has 29 court cases on record: 13 filed by the company and 16 filed against it. 7 are pending. Most are in the district courts.
Panoli Intermediates (India) was incorporated on 15 October 1998, making it 28+ years old. It is registered with the Registrar of Companies, Delhi.
Panoli Intermediates (India) has 11 deals on record (8 secondary share transfers, 3 funding rounds), with disclosed funding of ₹16.04 Cr; the latest was in March 2020.
The peers of Panoli Intermediates (India) by revenue are TGV Sraac Limited, Alkyl Amines Chemicals Limited, Aquapharm Chemicals Private Limited, Jesons Industries Limited, all in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Ankit Shivlal Goyal was appointed as Additional Director on 15 Sep 2020. Kailash Chander Goyal was appointed as Director on 30 Apr 2019. Kailash Chander Goyal ceased to be Additional Director on 30 Apr 2019. Panoli Intermediates (India) has 10 board changes on record in total.
Panoli Intermediates (India) can be reached through the website panoliindia.com. Its registered office is in New Delhi, Delhi, India.
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