About Progress Rail Innovations Private Limited
Data last updated:
Progress Rail Innovations Private Limited is a private limited company based in Delhi, India, a subsidiary of Emd International Holding Inc. It operates in the auto parts and components segment of the automotive sector. It was incorporated on 02 December 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U35201DL1996PTC083567. Its GSTIN is 07AAACG3780G2ZO (Delhi). The company holds 18 GST registrations, of which 14 are active.
The company has an authorised share capital of ₹50.4 Cr and a paid-up capital of ₹7.39 Cr. It was formerly known as Emd Locomotive Technologies Private Limited and Gm Locomotive Group India Pvt Ltd. It is led by directors including Shivanshu Narendra Kaushik and Kelly Bouldin Roney.
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 800 Meridian Commercial Tower 8th Floor Windsor Place, Delhi, India – 110001.
As per the financials filed for FY 2025, the company reported a revenue of ₹95.84 Cr, a growth of 25% compared to the previous year. For the same year it recorded a net profit of ₹7.21 Cr (net margin 7.5%) and EBITDA of ₹18.96 Cr (EBITDA margin 19.8%). Revenue has declined at a compounded annual rate (CAGR) of 4% over three years and 11% over five years.
The company has about 99 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Progress Rail. Court records list 4 cases involving the company, including 4 filed against it. The company has 1 deal on record (1 funding round), with disclosed funding of ₹48.43 Cr; the latest was in March 2013. Its 10 peer companies in the Business Services industry (Business Auxiliary Services) are compared by revenue, 5 larger and 5 smaller; the largest is Teg India Private Limited. The company has 8 MSME Form 1 returns on record between 2021 and 2023, listing 43 overdue payments to 6 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website progressrail.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address800 Meridian Commercial Tower 8th Floor Windsor Place, Delhi, India – 110001
- IndustryAutomotive, Auto Parts & Components
- 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 Progress Rail Innovations Private Limited
The main business activities of Progress Rail Innovations are support service to organizations and manufacturing. In detail, this covers other support services to organizations and motor vehicles, trailers, semi trailers and other transport vehicles. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| N | Support service to Organizations | N7 | Other support services to organizations | Locked |
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles | 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 Progress Rail Innovations Private Limited FY 2025 filings available
Progress Rail Innovations Private Limited reported revenue of ₹95.84 Cr (up 25% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Progress Rail Innovations Private Limited
Revenue rose 25% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 11%. EBITDA rose 18% 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 Progress Rail Innovations Private 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 | ₹18.96 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹7.21 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 Progress Rail Innovations Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 19.8% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 7.5% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| 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 Progress Rail Innovations 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.
Peer Comparison of Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited is compared with the companies closest to it by revenue in the Business Services industry (Business Auxiliary Services). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Teg India Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| BP India Private Limited | •••• | •••• | •••• | •••• | 93 | Mumbai, Maharashtra, India |
| MSC Service Center India Private Limited | •••• | •••• | •••• | •••• | 1,135 | Ambattur, Tamil Nadu, India |
| Gattefosse India Private Limited | •••• | •••• | •••• | •••• | 22 | Mumbai, Maharashtra, India |
| Westlake Epoxy India Private Limited | •••• | •••• | •••• | •••• | - | Bangalore South, Karnataka, India |
| Progress Rail Innovations Private Limited this company | •••• | •••• | •••• | •••• | - | Delhi, India |
| RMS Technosolutions (India) Private Limited | •••• | •••• | •••• | •••• | 986 | Lucknow, Uttar Pradesh, India |
| Teva Global Business Services Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Indorama Ventures Global Shared Services Private Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
| Foundation for Promotion of Sports and Games | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Rxo Global Services India Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Progress Rail Innovations by revenue in the Business Services industry (Business Auxiliary Services), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited is audited by Price Waterhouse & Co. Bangalore LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Price Waterhouse & Co. Bangalore LLP | 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.
Board of Directors of Progress Rail Innovations Private Limited
Progress Rail Innovations has 4 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivanshu Narendra Kaushik | Director | 07 Dec 2023 | 2 Years 10 Months | Current |
| Kelly Bouldin Roney | Director | 10 Mar 2022 | 4 Years 6 Months | Current |
| Colin Jon Kerelchuk | Director | 10 Mar 2022 | 4 Years 6 Months | Current |
| Vijay Kumar | Director | 10 Mar 2022 | 4 Years 6 Months | Current |
Ownership and Shareholding of Progress Rail Innovations Private 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 Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Deals & Funding of Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited has 1 deal on record (1 funding round), with disclosed funding of ₹48.43 Cr; the latest was in March 2013.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2013 | Funding round | ₹48.43 Cr | Investors: EMD International Holdings Inc |
Full deal history
All 1 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 Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited has 4 court cases on record: 4 filed against it. All cases are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| Supreme Court | 2 | 2 | 0 |
| High courts | 1 | 1 | 0 |
| District courts | 1 | 1 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, North West, Delhi | Civil suit | Filed against the company by State | Disposed |
| High Court of Delhi | Court case (CUSAA) | Filed against the company by Commissioner of Customs | Disposed |
| Supreme Court | Appeal | Filed against the company by Commissioner of Customs New Delhi | Disposed |
| Supreme Court | Court case (R.P.(C)) | Filed against the company by Commissioner of Customs New Delhi | Disposed |
Full case history
All 4 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.
MSME Payment Delays by Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited has 8 MSME Form 1 returns on record between 2021 and 2023, listing 43 overdue payments to 6 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 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| DRS Dilip Roadlines Limited | •••• | •••• | •••• |
| DKM Online Private Limited | •••• | •••• | •••• |
| Lotus Wireless Technologies India Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| B G Industries | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 8 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Progress Rail Innovations Private Limited
Progress Rail Innovations operates one associated brand: Progress Rail. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of rolling stock and infrastructure solutions and technologies | progressrail.com |
Employees and EPFO Compliance at Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited has a workforce of 99 employees as of Apr 07, 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.
Name History of Progress Rail Innovations Private Limited
Progress Rail Innovations has undergone 2 name changes throughout its history. The company was previously known as Emd Locomotive Technologies Private Limited, and Gm Locomotive Group India Pvt Ltd. The current legal name is Progress Rail Innovations Private Limited.
| Company Name | Status |
|---|---|
| Progress Rail Innovations Private Limited | Current |
| Emd Locomotive Technologies Private Limited | Previous |
| Gm Locomotive Group India Pvt Ltd | Previous |
Recent Activity on Progress Rail Innovations Private Limited
Progress Rail Innovations Private Limited has 25 board changes on record since 2010: 4 appointments and 21 cessations. The latest: Shivanshu Narendra Kaushik ceased to be Additional Director on 29 Sep 2024.
16 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Progress Rail Innovations Private 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.
Subsidiaries & Group Companies of Progress Rail Innovations Private 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 Progress Rail Innovations Private Limited
Progress Rail Innovations has 18 GST registrations: 14 active and 4 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAACG3780G2ZO | Delhi | Active | 10 Aug 2019 |
| 09AAACG3780G1ZL | Uttar Pradesh | Active | 01 Jul 2017 |
| 27AAACG3780G1ZN | Maharashtra | Active | 16 Aug 2017 |
| 24AAACG3780G1ZT | Gujarat | Active | 21 Aug 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 Progress Rail Innovations Private 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 Progress Rail Innovations Private Limited
Progress Rail Innovations is an active private limited company based in Delhi, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 02 December 1996 (30+ years old) and is registered under CIN U35201DL1996PTC083567.
Progress Rail Innovations reported revenue of ₹95.84 Cr for FY 2025 (up 25% YoY).
Progress Rail Innovations has 4 current directors:
- Shivanshu Narendra Kaushik - Director
- Kelly Bouldin Roney - Director
- Colin Jon Kerelchuk - Director
- Vijay Kumar - Director
Progress Rail Innovations reported a net profit of ₹7.21 Cr (net margin 7.5%) and EBITDA of ₹18.96 Cr (EBITDA margin 19.8%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Progress Rail Innovations is -4% over three years and -11% over five years. In the latest year (FY 2025) revenue rose 25%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Progress Rail Innovations is 07AAACG3780G2ZO, registered in Delhi. The company has 18 GST registrations in all, of which 14 are active and 4 are cancelled or inactive. Other active GSTINs include 09AAACG3780G1ZL (Uttar Pradesh), 27AAACG3780G1ZN (Maharashtra), 24AAACG3780G1ZT (Gujarat).
The CIN (Corporate Identification Number) of Progress Rail Innovations is U35201DL1996PTC083567. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progress Rail Innovations has 4 court cases on record: 4 filed against it. Most are in the supreme court.
Progress Rail Innovations was incorporated on 02 December 1996, making it 30+ years old. It is registered with the Registrar of Companies, Delhi.
Progress Rail Innovations has 1 deal on record (1 funding round), with disclosed funding of ₹48.43 Cr; the latest was in March 2013.
The peers of Progress Rail Innovations by revenue are Teg India Private Limited, BP India Private Limited, MSC Service Center India Private Limited, Gattefosse India Private Limited, Westlake Epoxy India Private Limited and 5 more, all in the Business Services industry (Business Auxiliary Services).
Shivanshu Narendra Kaushik ceased to be Additional Director on 29 Sep 2024. Shivanshu Narendra Kaushik was appointed as Director on 07 Dec 2023. Colin Jon Kerelchuk ceased to be Additional Director on 21 Nov 2022. Progress Rail Innovations has 25 board changes on record in total.