About Polestar Maritime Limited
Data last updated:
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.
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.
Company details
CIN history
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 |
Contact details
Polestar Maritime Limited's registered office is in Mumbai, Maharashtra. Its website is polestarmaritime.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address109 10th Floor Bajaj Bhawan Nariman Point, Mumbai, Maharashtra, India – 400021
- IndustryTransport and Logistics, Shipping & Maritime Services
To see the full contact details of Polestar Maritime 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
Business activity
The main business activity of Polestar Maritime is transport and storage. In detail, this covers water transport.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H3 | Water transport |
To see the full business activity and turnover split of Polestar Maritime Limited, buy the company report.
Financials of Polestar Maritime Limited
FY 2025 filings availablePolestar Maritime Limited reported revenue of ₹151.09 Cr (up 9% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
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
| 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
| 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 | |||||
To see the full financial statements and ratios of Polestar Maritime Limited, buy the company report.
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 |
Auditor
Polestar Maritime Limited is audited by V K BESWAL & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V K BESWAL & ASSOCIATES | FY 2023 | 101083W |
Shareholding
The shareholding of Polestar Maritime Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Polestar Maritime Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Jul 2025 | 101131572 | Hdfc Bank Limited | ₹20 Cr | Open | |
| 17 Jul 2025 | 101131562 | Hdfc Bank Limited | ₹12 Cr | Open | |
| 05 Dec 2024 | 101014015 | Hdfc Bank Limited | ₹75 Cr | Open | |
| 30 Sep 2022 | 100626366 | Hdfc Bank Limited | ₹25 Cr | Open | |
| 28 Dec 2018 | 100228602 | Hdfc Bank Limited | ₹25 Cr | Open |
To see the full charge records of Polestar Maritime Limited, buy the company report.
Total charge records: 11 View all charges
Deals & funding
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 |
To see the full deal history of Polestar Maritime 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
Polestar Maritime Limited has 21 court cases on record: 13 filed by Polestar Maritime, 8 filed against it. All cases are disposed.
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 Shipyard Ltd., | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Naftogaz India Pvt.Ltd. and Anr. | Disposed |
| High Court, GUJARAT | Court case (AS) | Filed by the company against individuals | Disposed |
| Bombay High Court | Court case (ADMS) | Filed by the company against an individual | Disposed |
| Bombay High Court | Court case (CSP) | Filed by the company | Disposed |
To see the full case history of Polestar Maritime 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
Polestar Maritime Limited was last rated by Care on 19 Apr 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 19 Apr 2022 |
To see the full credit ratings and regulatory alerts of Polestar Maritime Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Polestar Maritime Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
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 |
To see the full group structure of Polestar Maritime Limited, buy the company report.
Employees & EPFO
Polestar Maritime Limited has a workforce of 120 employees on its EPFO records as of Apr 09, 2024, across 2 active EPFO establishments.
GST
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 |
To see the full GST registrations and return filing status of Polestar Maritime Limited, buy the company report.
Recent activity
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 in the company report.
Frequently asked questions
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 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
The latest financial statements of Polestar Maritime 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 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.
Brijesh Bhagwandas Parekh ceased to be Director on 10 Dec 2022. Anirudh Dhirajlal Bhammar was appointed as Director on 30 Sep 2022. Juhi Suryakant Parekh was appointed as Director on 30 Sep 2022. Polestar Maritime has 17 board changes on record in total.
Polestar Maritime can be reached through the website polestarmaritime.com. Its registered office is in Mumbai, Maharashtra, India.