India's Most Valuable Companies 2022 edition · Source: Hurun India
Rank#360- Valuation
- ₹9,000 Cr
2021 #267
Revenue · FY 2024
₹1,317.17 Cr
▲ 127% YoY
Net loss · FY 2024
₹2,426.72 Cr
Net margin -184.2%
EBITDA · FY 2024
-₹2,873.29 Cr
EBITDA margin -218.1%
Authorised capital
₹122.52 Cr
Registered with MCA
Paid-up capital
₹79.67 Cr
Issued & subscribed
Satisfied charges
₹4,901.03 Cr
No open charges
Company age
28 yrs
Est. 1998
Employees · EPFO
3
Provident fund records
About Piramal Glass Private Limited
Data last updated:
Piramal Glass Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the glass and products segment of the manufacturing sector. It was incorporated on 06 February 1998 and has been in existence for over 28 years.
Its director Ajay Piramal is #127 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U28992MH1998PTC113433. Its GSTIN is 27AABCG0093R1Z7 (Maharashtra). The company holds 7 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹122.52 Cr and a paid-up capital of ₹79.67 Cr. It was formerly known as Gujarat Glass Private Limited and Gujarat Glass Limited. It is led by directors including Ajay Gopikisan Piramal and Sunilkumar Jagdishprasad Adukia.
Its last annual general meeting (AGM) was held on 25 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 1st Floor Piramal Tower Peninsula Corporate Park, Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹1,317.17 Cr, a growth of 127% compared to the previous year. For the same year it recorded a net loss of ₹2,426.72 Cr (net margin -184.2%) and EBITDA of -₹2,873.29 Cr (EBITDA margin -218.1%). Revenue has declined at a compounded annual rate (CAGR) of 25% over three years and 12% over five years.
The company has about 3 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 2 brands: Piramal Group and PGP Glass. As per MCA filings, the company has satisfied charges of ₹4,901.03 Cr on record. Court records list 1,088 cases involving the company, including 106 filed by the company and 982 filed against it; 36 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.44 Cr; the latest was in October 2011. Its 4 peer companies in the Manufacturing industry (Glass Works, Industrial Packaging), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 2 larger and 2 smaller; the largest is Amcor Flexibles India Private Limited with revenue of ₹1,444.24 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 piramalglass.com.
Company details
CIN U28992MH1998PTC113433
Registration Number 113433
Incorporation Date 06 February 1998
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 25 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
Name history
Piramal Glass has undergone 3 name changes throughout its history. The company was previously known as Gujarat Glass Private Limited, Gujarat Glass Limited, and Piramal Glass Limited. The current legal name is Piramal Glass Private Limited.
| Company Name | Status |
|---|---|
| Piramal Glass Private Limited | Current |
| Gujarat Glass Private Limited | Previous |
| Gujarat Glass Limited | Previous |
| Piramal Glass Limited | Previous |
CIN history
Piramal Glass has one previous CIN (Corporate Identification Number): U28992MH1998PLC113433. The current CIN is U28992MH1998PTC113433, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U28992MH1998PTC113433 | Current |
| U28992MH1998PLC113433 | Previous |
Key People
Ajay Gopikisan Piramal Director Sunilkumar Jagdishprasad Adukia Director Swati Ajay Piramal Director Recognitions & Rankings of Piramal Glass
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #127 Ajay Piramal ₹26,800 Cr
Contact details
Piramal Glass Private Limited's registered office is in Mumbai, Maharashtra. Its website is piramalglass.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address1st Floor Piramal Tower Peninsula Corporate Park, Ganpatrao Kadam Marg Lower Parel, Mumbai, Maharashtra, India – 400013
- IndustryManufacturing, Glass & Products
To see the full contact details of Piramal Glass Private Limited, buy the company report.
Comprehensive company report
Piramal Glass 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
Piramal Glass operates two associated brands: Piramal Group and PGP Glass. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Multinational conglomerate with diverse interests in Pharma, Financial Services and Real Estate | piramal.com | |
| Contract manufacturing for pharmaceutical and cosmetic glass packaging is provided. | piramalglass.com |
Business activity
The main business activity of Piramal Glass is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Piramal Glass Private Limited, buy the company report.
Financials of Piramal Glass Private Limited
FY 2024 filings availablePiramal Glass Private Limited reported revenue of ₹1,317.17 Cr (up 127% YoY) for FY 2024.
Revenue · FY 2024
₹1,317.17 Cr ▲ 127%
Net loss · FY 2024
₹2,426.72 Cr margin -184.2%
EBITDA · FY 2024
-₹2,873.29 Cr margin -218.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 127%
3 years · compounded
▼ 25%
5 years · compounded
▼ 12%
EBITDA CAGR growth
3 years · compounded
▼ 36%
5 years · compounded
▼ 55%
Revenue rose 127% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 12%. 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| 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 | -₹2,873.29 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹2,426.72 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -218.1% | ||||
| Net Profit Margin | -184.2% | ||||
| 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 Piramal Glass Private Limited, buy the company report.
Board of directors of Piramal Glass Private Limited
Piramal Glass has 3 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ajay Gopikisan Piramal Also directs: PRL Realtors LLP, PRL Properties LLP, Abbvie Therapeutics India Private Limited and 5 more | Director | 06 Feb 1998 | 28 Years 9 Months | Current |
| Sunilkumar Jagdishprasad Adukia | Director | 18 Aug 2022 | 4 Years 2 Months | Current |
| Swati Ajay Piramal | Director | 12 Mar 1998 | 28 Years 7 Months | Current |
Peer comparison
Piramal Glass Private Limited is compared with the 4 companies closest to it by revenue in the Manufacturing industry (Glass Works, Industrial Packaging), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Amcor Flexibles India Private Limited | ₹1,444.24 Cr (FY 2025) | 1.0% | Mumbai, Maharashtra, India | |||
| Gold Plus Float Glass Private Limited | ₹1,348.21 Cr (FY 2025) | 121.0% | Delhi, India | |||
| Piramal Glass Private Limitedthis company | ₹1,317.17 Cr (FY 2024) | -₹2,426.72 Cr | -184.2% | 127.0% | 3 | Mumbai, Maharashtra, India |
| Ajit Industries Private Limited | ₹996.78 Cr (FY 2025) | 35.0% | Kasauli, Himachal Pradesh, India | |||
| Positive Packaging Industries Limited | ₹919.27 Cr (FY 2016) | -5.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Piramal Glass Private Limited, buy the company report.
Auditor
Piramal Glass Private Limited is audited by M/s D. Dadheech & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M/s D. Dadheech & Co. | FY 2023 | 101981W |
Shareholding
The shareholding of Piramal Glass 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 Piramal Glass Private Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹4,901.03 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 May 2021 | 100449463 | Others | ₹1,300 Cr | Satisfied | |
| 18 Oct 2019 | 100300401 | Axis Bank Limited | ₹100 Cr | Satisfied | |
| 23 Jul 2019 | 100280618 | Others | ₹100 Cr | Satisfied | |
| 20 Jul 2018 | 100198382 | Hdfc Bank Limited | ₹150 Cr | Satisfied | |
| 20 Jan 2017 | 100076161 | Axis Bank Limited | ₹102 Cr | Satisfied |
To see the full charge records of Piramal Glass Private Limited, buy the company report.
Total charge records: 58 View all charges
Deals & funding
Piramal Glass Private Limited has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.44 Cr; the latest was in October 2011.
Total deals
4
Secondary share transfers
2
Rights issue
1
Funding round
1
Disclosed funding
₹1.44 Cr
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2011 | Funding round | ₹1.44 Cr | Investors: Wildacre Investments Limited |
| Sep 2009 | Rights issue | ₹187.36 Cr | Investors: Others Piramal Glass Private Limited, 3 individuals |
| Mar 2007 | Secondary share transfer | Undisclosed | Buyer: Kojam Fininvest Limited , Glass Engineers Private Limited & Anand Piramal, Glass Engineers Private Limited & Swati Piramal Seller: Glass Engineers Pvt Ltd |
| Dec 2006 | Secondary share transfer | Undisclosed | Buyer: Glass Engineers Pvt Ltd Seller: Indocean Packaging Limited, The India Private Equity Fund |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Piramal Glass Private Limited has 1,088 court cases on record: 106 filed by Piramal Glass, 982 filed against it. 36 cases are pending and 1,052 are disposed.
Total cases
1,088
Filed by the company
106
Filed against the company
982
Pending
36
Disposed
1,052
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1,028 | 959 | 8 |
| High courts | 51 | 17 | 26 |
| Supreme Court | 6 | 5 | 2 |
| NCLT | 3 | 1 | 0 |
Cases on record (5 of 1,088)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1601-Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605]) | Filed against the company by PR Commissioner of Income Tax and 1 other | Disposed |
| High Court of Gujarat | Special civil application | Filed by the company against PGP Glass Private Limited and 1 other | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against Manager, HDFC Bank Limited and 3 others | Disposed |
| District court, SURAT, Gujarat | Criminal complaint | Filed against the company by HDFC Bank Ltd, Through Its Autho. Person- Mr. Tushar Bachubhai Patel | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CHAMBER SUMMONS) | Filed by the company against Lifespan Biotech Pvt Ltd and 2 others | Disposed |
To see the full case history of Piramal Glass 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
Piramal Glass Private Limited was last rated by Icra on 31 May 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 31 May 2021 |
To see the full credit ratings and regulatory alerts of Piramal Glass Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Piramal Glass Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Piramal Glass has 1 subsidiary company and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Aasan Corporate Solutions Private Limited | U70102MH2011PTC219815 |
To see the full group structure of Piramal Glass Private Limited, buy the company report.
Employees & EPFO
Piramal Glass Private Limited has a workforce of 3 employees on its EPFO records as of Apr 02, 2024, across 3 active EPFO establishments.
Employee count
3
Active EPFO establishments
3
Employee growth
-93.18%
GST
Piramal Glass has 7 GST registrations: 2 active and 5 cancelled or inactive.
Total GSTINs
7
Active
2
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCG0093R1Z7 | Maharashtra | Active | 01 Jul 2017 |
| 24AABCG0093R1ZD | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Piramal Glass Private Limited, buy the company report.
Recent activity
Piramal Glass Private Limited has 19 board changes on record since 1998: 3 appointments and 16 cessations. The latest: Sunilkumar Jagdishprasad Adukia ceased to be Additional Director on 30 Sep 2022.
AGM
Piramal Glass Private Limited last Annual general meeting of members was held on 25 Sep 2024 as per latest MCA records.
Filing
Piramal Glass Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Charges
A charge registered on 18 May 2021 via Charge ID 100449463 with Others was fully satisfied on 17 Aug 2023.
Ceased
Sunilkumar Jagdishprasad Adukia ceased to be Additional Director.
Appointed
Sunilkumar Jagdishprasad Adukia was appointed as Director.
Charges
A charge registered on 31 Mar 1999 via Charge ID 90147275 with Allahabad Bank was fully satisfied on 19 Jan 2022.
Charges
A charge registered on 31 Mar 1999 via Charge ID 90145996 with Others was fully satisfied on 04 Jun 2021.
Charges
A charge with Others amounted to Rs. 1,300.00 Cr with Charge ID 100449463 was registered on 18 May 2021.
Charges
A charge registered on 20 Jul 2018 via Charge ID 100198382 with Hdfc Bank Limited was fully satisfied on 03 May 2021.
Charges
A charge registered on 05 Sep 2014 via Charge ID 10519482 with Kotak Mahindra Bank Limited was fully satisfied on 03 May 2021.
Charges
A charge registered on 20 Jan 2017 via Charge ID 100076161 with Axis Bank Limited was fully satisfied on 22 Apr 2021.
Charges
A charge registered on 23 Jul 2019 via Charge ID 100280618 with Others was fully satisfied on 08 Apr 2021.
136 earlier events are in the company report.
News
Frequently asked questions
Piramal Glass is an active private limited company based in Mumbai, Maharashtra, India. The company works in glass and products, within the manufacturing industry. It was incorporated on 06 February 1998 (28+ years old) and is registered under CIN U28992MH1998PTC113433.
Piramal Glass has 3 current directors:
- Ajay Gopikisan Piramal - Director
- Sunilkumar Jagdishprasad Adukia - Director
- Swati Ajay Piramal - Director
The latest financial statements of Piramal Glass on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 25 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Piramal Glass is 27AABCG0093R1Z7, registered in Maharashtra. The company has 7 GST registrations in all, of which 2 are active and 5 are cancelled or inactive. Other active GSTINs include 24AABCG0093R1ZD (Gujarat).
The CIN (Corporate Identification Number) of Piramal Glass is U28992MH1998PTC113433. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Piramal Glass has 1,088 court cases on record: 106 filed by the company and 982 filed against it. 36 are pending. Most are in the district courts.
Piramal Glass was incorporated on 06 February 1998, making it 28+ years old. It is registered with the Registrar of Companies, Mumbai.
Piramal Glass has 4 deals on record (2 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹1.44 Cr; the latest was in October 2011.
The peers of Piramal Glass by revenue are Amcor Flexibles India Private Limited, Gold Plus Float Glass Private Limited, Ajit Industries Private Limited, Positive Packaging Industries Limited, all in the Manufacturing industry (Glass Works, Industrial Packaging), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
Sunilkumar Jagdishprasad Adukia ceased to be Additional Director on 30 Sep 2022. Sunilkumar Jagdishprasad Adukia was appointed as Director on 18 Aug 2022. Vikas Purushottamrao Tarekar ceased to be Company Secretary on 23 Oct 2018. Piramal Glass has 19 board changes on record in total.
Piramal Glass can be reached through the website piramalglass.com. Its registered office is in Mumbai, Maharashtra, India.
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