About Racold Thermo Private Limited
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Racold Thermo Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of Ariston Holding N.V (Erstwhile, Ariston Thermo International Srl), Italy. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 11 November 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U31909PN2004PTC019938. Its GSTIN is 27AAECM0766G1ZH (Maharashtra). The company holds 17 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹26.21 Cr. It was formerly known as Ariston Thermo India Limited and Racold Thermo Limited. It is led by directors including Paolo Cancellieri and Gautam Gopalkrishna Karkal.
Its last annual general meeting (AGM) was held on 29 June 2026, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Gat No 265/374/376 Kharabwadi Chakan Taluka – Khed, Pune, Maharashtra, India – 410501.
As per the financials filed for FY 2025, the company reported a revenue of ₹8.45 Cr, a growth of 24% compared to the previous year. For the same year it recorded a net profit of ₹2.7 Cr (net margin 32%) and EBITDA of ₹3.47 Cr (EBITDA margin 41.1%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 5% over five years.
The company has about 1 employee on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹5.1 Cr and satisfied charges of ₹8.59 Lakh on record. Court records list 26 cases involving the company, including 21 filed by the company and 5 filed against it; 10 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website racold.com.
Company details
Name history
Racold Thermo has undergone 3 name changes throughout its history. The company was previously known as Ariston Thermo India Limited, Racold Thermo Limited, and Merloni Termosanitari Ssp Limited. The current legal name is Racold Thermo Private Limited.
| Company Name | Status |
|---|---|
| Racold Thermo Private Limited | Current |
| Ariston Thermo India Limited | Previous |
| Racold Thermo Limited | Previous |
| Merloni Termosanitari Ssp Limited | Previous |
CIN history
Racold Thermo has one previous CIN (Corporate Identification Number): U31909PN2004PLC019938. The current CIN is U31909PN2004PTC019938, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U31909PN2004PTC019938 | Current |
| U31909PN2004PLC019938 | Previous |
Contact details
Racold Thermo Private Limited's registered office is in Pune, Maharashtra. Its website is racold.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressGat No 265/374/376 Kharabwadi Chakan Taluka – Khed, Pune, Maharashtra, India – 410501
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Racold Thermo Private 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 Racold Thermo is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Racold Thermo Private Limited, buy the company report.
Financials of Racold Thermo Private Limited
FY 2025 filings availableRacold Thermo Private Limited reported revenue of ₹8.45 Cr (up 24% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 5% over five years, including 24% growth in the latest year. EBITDA rose 40% 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 | ₹8.45 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹3.47 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹2.7 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 | 41.1% | ||||
| Net Profit Margin | 32% | ||||
| 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 Racold Thermo Private Limited, buy the company report.
Board of directors of Racold Thermo Private Limited
Racold Thermo has 3 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Paolo Cancellieri | Director | 07 May 2012 | 14 Years 5 Months | Current |
| Gautam Gopalkrishna Karkal | Director | 31 May 2019 | 7 Years 4 Months | Current |
| Marcella Zacchei | Director | 26 May 2015 | 11 Years 5 Months | Current |
Peer comparison
Racold Thermo Private Limited is compared with the 3 companies closest to it by revenue in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Racold Thermo Private Limitedthis company | ₹8.45 Cr (FY 2025) | ₹2.7 Cr | 32% | 24.0% | 1 | Pune, Maharashtra, India |
| Shivalik Green Energy Private Limited | ₹5.64 Cr (FY 2024) | -65.0% | Ambala, Haryana, India | |||
| Canfan Private Limited | ₹5.62 Cr (FY 2025) | -36.0% | Chennai, Tamil Nadu, India | |||
| Innovating Magnetics Premo India Private Limited | ₹5.6 Cr (FY 2025) | 61.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Racold Thermo Private Limited, buy the company report.
Auditor
Racold Thermo Private Limited is audited by Sudit K. Parekh & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Sudit K. Parekh & Co. LLP | FY 2023 | 110512W/W100378 |
Shareholding
The shareholding of Racold Thermo Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Racold Thermo Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Apr 2000 | 90091242 | State Bank of India | ₹4.35 Cr | Open | |
| 11 Apr 1996 | 90084444 | Bank of Maharashtra | ₹25 Lakh | Open | |
| 11 Apr 1996 | 90087962 | Bank of Maharashtra | ₹30 Lakh | Open | |
| 18 Jul 1995 | 90084293 | Bank of Maharashtra | ₹15 Lakh | Open | |
| 13 Oct 1994 | 90084181 | Canara Bank | ₹5 Lakh | Open |
To see the full charge records of Racold Thermo Private Limited, buy the company report.
Total charge records: 7 View all charges
Legal cases
Racold Thermo Private Limited has 26 court cases on record: 21 filed by Racold Thermo, 5 filed against it. 10 cases are pending and 16 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 19 | 3 | 7 |
| High courts | 7 | 2 | 3 |
Cases on record (5 of 26)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Writ petition | Filed against the company by Ariston Group India Pvt Ltd. (Formerly Known As Ariston Thermo India Pvt. Ltd. ) | Disposed |
| High Court, TELANGANA | Court case (COMPA) | Filed by the company against M/S Apex Encon Projects Private Limited | Disposed |
| District court, Pune, Maharashtra | Court case (Civil M.A.) | Filed by the company against Indu Projects Ltd. and 1 other | Disposed |
| Bombay High Court | Writ petition | Filed against the company by an individual | Pending |
| District court, Pune, Maharashtra | Court case (Spl .Dkst) | Filed by the company against Prasanth Kumar M K Proprietor of PMK Sales Corporation | Pending |
To see the full case history of Racold Thermo 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.
MSME payment delays
Racold Thermo Private Limited has 4 MSME Form 1 returns on record between 2019 and 2023, listing 6 overdue payments to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Kanj & Co LLP |
To see the full MSME payment records of Racold Thermo Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Racold Thermo Private Limited has a workforce of 1 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
GST
Racold Thermo has 17 GST registrations: 1 active and 16 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECM0766G1ZH | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Racold Thermo Private Limited, buy the company report.
Recent activity
Racold Thermo Private Limited has 18 board changes on record since 2010: 3 appointments and 15 cessations. The latest: Umberto Gaspare Crovella ceased to be Director on 25 Nov 2024.
20 earlier events are in the company report.
News
Frequently asked questions
Racold Thermo is an active private limited company based in Pune, Maharashtra, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 11 November 2004 (22+ years old) and is registered under CIN U31909PN2004PTC019938.
Racold Thermo has 3 current directors:
- Paolo Cancellieri - Director
- Gautam Gopalkrishna Karkal - Director
- Marcella Zacchei - Director
The latest financial statements of Racold Thermo on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 June 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Racold Thermo is 27AAECM0766G1ZH, registered in Maharashtra. The company has 17 GST registrations in all, of which 1 is active and 16 are cancelled or inactive.
The CIN (Corporate Identification Number) of Racold Thermo is U31909PN2004PTC019938. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Racold Thermo has 26 court cases on record: 21 filed by the company and 5 filed against it. 10 are pending. Most are in the district courts.
Racold Thermo was incorporated on 11 November 2004, making it 22+ years old. It is registered with the Registrar of Companies, Pune.
The peers of Racold Thermo by revenue are Shivalik Green Energy Private Limited, Canfan Private Limited, Innovating Magnetics Premo India Private Limited, all in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Umberto Gaspare Crovella ceased to be Director on 25 Nov 2024. Walter Albe ceased to be Director on 01 Jan 2020. Gautam Gopalkrishna Karkal ceased to be Additional Director on 11 Jul 2019. Racold Thermo has 18 board changes on record in total.
Racold Thermo has 4 MSME Form 1 returns on record between 2019 and 2023, listing 6 overdue payments to 1 micro and small supplier. The latest return was filed on 15 Dec 2023.
Racold Thermo can be reached through the website racold.com. Its registered office is in Pune, Maharashtra, India.
The registered office of Racold Thermo is at Gat No 265374376 Kharabwadi Chakan Taluka – Khed, Pune, Maharashtra, India – 410501.
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