About Polestar Maritime Limited
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Polestar Maritime Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Pml Ventures Private Limited. It operates in the shipping and maritime services segment of the transport and logistics sector. It was incorporated on 08 November 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U63032MH2000PLC129516. Its GSTIN is 27AAACL6265D1ZM (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹45 Cr and a paid-up capital of ₹2.52 Cr. It was formerly known as Logistic Projects (India) Limited. It is led by directors including Saahil Prakash Dugar and Sharan Ravi Kuruwa.
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 109 10th Floor Bajaj Bhawan Nariman Point, Mumbai, Maharashtra, India – 400021.
As per the financials filed for FY 2025, the company reported a revenue of ₹151.09 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹51.61 Cr (net margin 34.2%) and EBITDA of ₹80.34 Cr (EBITDA margin 53.2%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years.
The company has about 120 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹172 Cr and satisfied charges of ₹79 Cr on record. Court records list 21 cases involving the company, including 13 filed by the company and 8 filed against it. The company has 9 deals on record (7 secondary share transfers, 2 funding rounds), with disclosed funding of ₹40.31 Cr; the latest was in March 2024. Its 10 peer companies in the Shipping industry (Shipping Services) are compared by revenue, 5 larger and 5 smaller; the largest is Scorpio Marine Management (India) Private Limited with revenue of ₹154.04 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 polestarmaritime.com.
CIN History of Polestar Maritime Limited
Polestar Maritime has one previous CIN (Corporate Identification Number): U63032MH2000PTC129516. The current CIN is U63032MH2000PLC129516, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U63032MH2000PLC129516 | Current |
| U63032MH2000PTC129516 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address109 10th Floor Bajaj Bhawan Nariman Point, Mumbai, Maharashtra, India – 400021
- IndustryTransport and Logistics, Shipping & Maritime Services
- 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
- One PDF report, delivered after checkout
Business Activity of Polestar Maritime Limited
The main business activity of Polestar Maritime is transport and storage. In detail, this covers water transport.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| H | Transport and storage | H3 | Water transport | Locked |
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 Polestar Maritime Limited FY 2025 filings available
Polestar Maritime Limited reported revenue of ₹151.09 Cr (up 9% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Polestar Maritime Limited
Revenue has grown at a compounded annual rate (CAGR) of 7% over three years, including 9% growth in the latest year. EBITDA rose 6% 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 Polestar Maritime 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 | ₹80.34 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹51.61 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 Polestar Maritime Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 53.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 34.2% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
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 Polestar Maritime are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Polestar Maritime Limited
Polestar Maritime has 7 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Saahil Prakash Dugar Also directs: Indus Ventures & Traders LLP, Idea Traders LLP, Encompass Design India Limited and 1 more | Director | 25 Mar 2016 | 10 Years 6 Months | Current |
| Sharan Ravi Kuruwa Also directs: Indus Ventures & Traders LLP, Asiatic Oxygen Ltd | Director | 25 Mar 2016 | 10 Years 6 Months | Current |
| Juhi Suryakant Parekh | Director | 30 Sep 2022 | 4 Years 0 Months | Current |
| Anirudh Dhirajlal Bhammar | Director | 30 Sep 2022 | 4 Years 0 Months | Current |
| Suryakant Mulji Parekh Also directs: Fundalogical Ventures Growth LLP, Apple Edibles and Logistics Private Limited, Ashish Synthetics Private Limited and 5 more | Director | 13 Dec 2005 | 20 Years 10 Months | Current |
| Bhagwandas Moolji Parekh Also directs: Logistic Ventures LLP, Orchid Shipping Private Limited, Seabridge Terminals Private Limited and 3 more | Director | 01 Oct 2013 | 13 Years 0 Months | Current |
Peer Comparison of Polestar Maritime Limited
Polestar Maritime Limited is compared with the companies closest to it by revenue in the Shipping industry (Shipping Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Scorpio Marine Management (India) Private Limited | ₹154.04 Cr (FY 2025) | •••• | •••• | -3.0% | •••• | Mumbai, Maharashtra, India |
| Paramount Shipping Services Private Limited | ₹152.47 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Chennai, Tamil Nadu, India |
| Sai Shipping Company Private Limited | ₹152.25 Cr (FY 2025) | •••• | •••• | -27.0% | •••• | Mumbai, Maharashtra, India |
| Samsara Shipping Private Limited | ₹151.68 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Mumbai, Maharashtra, India |
| Bulktainer Shipping Limited | ₹151.15 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Navi Mumbai, Maharashtra, India |
| Polestar Maritime Limited this company | ₹151.09 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Mumbai, Maharashtra, India |
| Oak Shipping Services Private Limited | ₹148.31 Cr (FY 2025) | •••• | •••• | 60.0% | •••• | Delhi, India |
| T P Roy Chowdhury & Co Private Limited | ₹146.22 Cr (FY 2025) | •••• | •••• | 24.0% | •••• | Kolkata, West Bengal, India |
| KMS Mondialle Private Limited | ₹145.72 Cr (FY 2024) | •••• | •••• | 164.0% | •••• | Navi Mumbai, Maharashtra, India |
| Hoger Offshore and Marine Private Limited | ₹144.1 Cr (FY 2025) | •••• | •••• | 41.0% | •••• | Navi Mumbai, Maharashtra, India |
| Bhavani Shipping Services (India) Private Limited | ₹143.95 Cr (FY 2025) | •••• | •••• | -12.0% | •••• | Navi Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Polestar Maritime by revenue in the Shipping industry (Shipping Services), 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 Polestar Maritime Limited
Polestar Maritime Limited is audited by V K BESWAL & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| V K BESWAL & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Polestar Maritime Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Polestar Maritime Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Jul 2025 | Hdfc Bank Limited | ₹20 Cr | Open |
| 17 Jul 2025 | Hdfc Bank Limited | ₹12 Cr | Open |
| 05 Dec 2024 | Hdfc Bank Limited | ₹75 Cr | Open |
| 30 Sep 2022 | Hdfc Bank Limited | ₹25 Cr | Open |
| 28 Dec 2018 | Hdfc Bank Limited | ₹25 Cr | Open |
Total charge records: 11 View all charges
Deals & Funding of Polestar Maritime Limited
Polestar Maritime Limited has 9 deals on record (7 secondary share transfers, 2 funding rounds), with disclosed funding of ₹40.31 Cr; the latest was in March 2024.
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Mar 2024 | Secondary share transfer | Undisclosed | Seller: an individual |
| Dec 2022 | Secondary share transfer | Undisclosed | Seller: 2 individuals |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: PML Ventures Private Limited , Parcorp Private Limited , 2 individuals Seller: Parekh Shipping Corporation, 3 individuals |
| Dec 2016 | Secondary share transfer | Undisclosed | Seller: Seabird Marine Services Private Limited |
Full deal history
All 9 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Polestar Maritime Limited
Polestar Maritime Limited has 21 court cases on record: 13 filed by Polestar Maritime, 8 filed against it. All cases are disposed. Status as checked between 28 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 13 | 4 | 0 |
| District courts | 7 | 4 | 0 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Company petition | Filed by the company against Bharati Defence and Infrastructure Limited | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Nafto Gaz India Private Limited | Disposed |
| High Court of Gujarat | Court case (AS) | Filed by the company against an individual | Disposed |
| Bombay High Court | Court case (ADMS) | Filed by the company against an individual | Disposed |
| Bombay High Court | Court case (CSD) | Filed by the company | Disposed |
Full case history
All 21 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Polestar Maritime Limited
Polestar Maritime Limited has a workforce of 120 employees as of Apr 09, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Polestar Maritime Limited
Polestar Maritime has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Unique Star Maritime Private Limited | U61200MH2021PTC363880 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Polestar Maritime Limited
Polestar Maritime Limited has 17 board changes on record since 2000: 12 appointments and 5 cessations. The latest: Brijesh Bhagwandas Parekh ceased to be Director on 10 Dec 2022.
26 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Polestar Maritime Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Polestar Maritime Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Polestar Maritime Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Polestar Maritime Limited
Polestar Maritime has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACL6265D1ZM | Maharashtra | Active | 01 Jul 2017 |
| 24AAACL6265D1ZS | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Polestar Maritime Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Polestar Maritime Limited
Polestar Maritime is an active public limited company based in Mumbai, Maharashtra, India. The company works in shipping and maritime services, within the transport and logistics industry. It was incorporated on 08 November 2000 (26+ years old) and is registered under CIN U63032MH2000PLC129516.
Polestar Maritime reported revenue of ₹151.09 Cr for FY 2025 (up 9% YoY).
Polestar Maritime has 7 current directors:
- Saahil Prakash Dugar - Director
- Sharan Ravi Kuruwa - Director
- Juhi Suryakant Parekh - Director
- Anirudh Dhirajlal Bhammar - Director
- Suryakant Mulji Parekh - Director
- Bhagwandas Moolji Parekh - Director
- Vinit Ashok Badani - Director
Polestar Maritime reported a net profit of ₹51.61 Cr (net margin 34.2%) and EBITDA of ₹80.34 Cr (EBITDA margin 53.2%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Polestar Maritime is 7% over three years. In the latest year (FY 2025) revenue rose 9%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Polestar Maritime is 27AAACL6265D1ZM, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 24AAACL6265D1ZS (Gujarat).
The CIN (Corporate Identification Number) of Polestar Maritime is U63032MH2000PLC129516. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Polestar Maritime has 21 court cases on record: 13 filed by the company and 8 filed against it. Most are in the high courts.
Polestar Maritime was incorporated on 08 November 2000, making it 26+ years old. It is registered with the Registrar of Companies, Mumbai.
Polestar Maritime has 9 deals on record (7 secondary share transfers, 2 funding rounds), with disclosed funding of ₹40.31 Cr; the latest was in March 2024.
The peers of Polestar Maritime by revenue are Scorpio Marine Management (India) Private Limited, Paramount Shipping Services Private Limited, Sai Shipping Company Private Limited, Samsara Shipping Private Limited, Bulktainer Shipping Limited and 5 more, all in the Shipping industry (Shipping Services).