About Ray Constructions Limited
Data last updated:
Ray Constructions Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the general construction services segment of the infrastructure and utilities sector. It was incorporated on 26 September 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH1986PLC041047. Its GSTIN is 27AAACR5277K1ZZ (Maharashtra). The company holds 13 GST registrations, of which 10 are active.
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹4.66 Cr. It was formerly known as Ray Constructions Private Limited. It is led by directors including Mukaladiyil Kochukunju Varghese (Managing Director) and Joshua Varghese Mukaladiyil (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Plot No.2 Ray Compund Opposite Iit Market Powai Mumbai, Maharashtra, India – 400076.
As per the financials filed for FY 2025, the company reported a revenue of ₹81.29 Cr, a decline of 25% compared to the previous year. For the same year it recorded a net profit of ₹1.08 Cr (net margin 1.3%) and EBITDA of ₹6.08 Cr (EBITDA margin 7.5%). Revenue has declined at a compounded annual rate (CAGR) of 18% over three years and 11% over five years.
The company has about 765 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹144.44 Cr and satisfied charges of ₹63.14 Cr on record. Court records list 64 cases involving the company, including 42 filed by the company and 17 filed against it; 7 cases are pending. The company has 10 deals on record (8 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.22 Cr; the latest was in September 2023. Its 10 peer companies in the Infrastructure industry (Construction Services) are compared by revenue, 5 larger and 5 smaller; the largest is Vil Limited.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website rayindia.co.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressPlot No.2 Ray Compund Opposite Iit Market Powai Mumbai, Maharashtra, India – 400076
- IndustryInfrastructure and Utilities, General Construction 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 Ray Constructions Limited
The main business activity of Ray Constructions is construction. In detail, this covers demolition & site preparation, electrical, plumbing & other specialized construction activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities | 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 Ray Constructions Limited FY 2024 filings available
Ray Constructions Limited reported revenue of ₹81.29 Cr (down 25% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Ray Constructions Limited
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 25% fall in the latest year. EBITDA fell 27% 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 Ray Constructions 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 | ₹6.08 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹1.08 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 Ray Constructions Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 7.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 1.3% | •••• | •••• | •••• | •••• |
| 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 Ray Constructions 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 Ray Constructions Limited
Ray Constructions Limited is compared with the companies closest to it by revenue in the Infrastructure industry (Construction 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 |
|---|---|---|---|---|---|---|
| Vil Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| Enkebee Infratech India Private Limited | •••• | •••• | •••• | •••• | 61 | Kolkata, West Bengal, India |
| Maloo Constructions (India) Private Limited | •••• | •••• | •••• | •••• | - | Bangalore, Karnataka, India |
| Ganpati Mega Builders (India) Private Limited | •••• | •••• | •••• | •••• | - | Agra, Uttar Pradesh, India |
| Swastik Habitates ( India) Private Limited | •••• | •••• | •••• | •••• | 39 | Indore, Madhya Pradesh, India |
| Ray Constructions Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| KVRR Infrastructure Private Limited | •••• | •••• | •••• | •••• | - | Davangere, Karnataka, India |
| R R Infraprojects Private Limited | •••• | •••• | •••• | •••• | 14 | Surat, Gujarat, India |
| Keshav Krupa Construction Private Limited | •••• | •••• | •••• | •••• | - | Surat, Gujarat, India |
| SRM Engineering Construction Corporation Limited | •••• | •••• | •••• | •••• | - | Chennai, Tamil Nadu, India |
| Devi Construction Co Pvt Ltd | •••• | •••• | •••• | •••• | - | Pune, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Ray Constructions by revenue in the Infrastructure industry (Construction 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 Ray Constructions Limited
Ray Constructions Limited is audited by Aniket Kulkarni & Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Aniket Kulkarni & 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.
Board of Directors of Ray Constructions Limited
Ray Constructions has 6 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mukaladiyil Kochukunju Thomas | Director | 29 Sep 1986 | 40 Years 0 Months | Current |
| Jaikumar Jhamandas Bhambhaney | Director | 28 Nov 1986 | 39 Years 10 Months | Current |
| Mukaladiyil Kochukunju Varghese Also directs: Ray Life Spaces LLP, Shieldpro Products and Solutions LLP, Ray Engineering Private Limited and 2 more | Managing Director | 29 Sep 1986 | 40 Years 0 Months | Current |
| Joshua Varghese Mukaladiyil Also directs: Ray Life Spaces LLP, Shieldpro Products and Solutions LLP | Whole-Time Director | 24 Oct 2019 | 6 Years 11 Months | Current |
| Sanjay Shridharrao Bokare | Director | 28 Oct 2021 | 4 Years 11 Months | Current |
| Alexander Chandpillai Mathen Also directs: Mathenson Records Management Private Limited | Director | 26 Jul 2017 | 9 Years 2 Months | Current |
Ownership and Shareholding of Ray Constructions 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 Ray Constructions Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 07 Oct 2025 | Others | ₹13 Lakh | Open |
| 03 Jul 2025 | Others | ₹14 Lakh | Open |
| 27 Feb 2025 | Canara Bank | ₹32.6 Lakh | Open |
| 31 Jan 2025 | Others | ₹10 Lakh | Open |
| 31 Jan 2025 | Others | ₹70 Lakh | Open |
Total charge records: 88 View all charges
Deals & Funding of Ray Constructions Limited
Ray Constructions Limited has 10 deals on record (8 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.22 Cr; the latest was in September 2023.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Sep 2019 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| Feb 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2015 | Funding round | ₹4.57 Cr | Investors: Ray Engineering Private Limited , 3 individuals |
| Dec 2009 | Secondary share transfer | Undisclosed | Buyer: Ray Engineering Private Limited , 3 individuals Seller: 4 individuals |
Full deal history
All 10 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 Ray Constructions Limited
Ray Constructions Limited has 64 court cases on record: 42 filed by Ray Constructions, 17 filed against it, 5 where it is another party. 7 cases are pending and 57 are disposed. Status as checked between 28 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 40 | 7 | 3 |
| District courts | 24 | 10 | 4 |
Cases on record (5 of 64)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Hindustan Petroleum Corporation Limited | Pending |
| District court, Ernakulam, Kerala | Civil suit | Filed by the company against CDN Engineering Private Limited | Pending |
| High Court of Kerala | Court case (AR) | Filed by the company against Inkel Limited | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Hindustan Petroleum Corporation Limited | Disposed |
| District court, Ernakulam, Kerala | Civil suit | Filed by the company against CDN Engineering Private Limited | Disposed |
Full case history
All 64 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 Ray Constructions Limited
Ray Constructions Limited has a workforce of 765 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.
CIN History of Ray Constructions Limited
Ray Constructions has one previous CIN (Corporate Identification Number): U45200MH1986PTC041047. The current CIN is U45200MH1986PLC041047, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45200MH1986PLC041047 | Current |
| U45200MH1986PTC041047 | Previous |
Recent Activity on Ray Constructions Limited
Ray Constructions Limited has 16 board changes on record since 1986: 11 appointments and 5 cessations. The latest: Sanjay Shridharrao Bokare was appointed as Director on 28 Oct 2021.
154 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Ray Constructions 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 Ray Constructions 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 Ray Constructions 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 Ray Constructions Limited
Ray Constructions has 13 GST registrations: 10 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACR5277K1ZZ | Maharashtra | Active | 01 Jul 2017 |
| 27AAACR5277K2ZY | Maharashtra | Active | 18 Dec 2021 |
| 29AAACR5277K1ZV | Karnataka | Active | 01 Jul 2017 |
| 32AAACR5277K1Z8 | Kerala | 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 Ray Constructions 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 Ray Constructions Limited
Ray Constructions is an active public limited company based in Mumbai, Maharashtra, India. The company works in general construction services, within the infrastructure and utilities industry. It was incorporated on 26 September 1986 (40+ years old) and is registered under CIN U45200MH1986PLC041047.
Ray Constructions reported revenue of ₹81.29 Cr for FY 2025 (down 25% YoY).
Ray Constructions has 6 current directors:
- Mukaladiyil Kochukunju Varghese - Managing Director
- Joshua Varghese Mukaladiyil - Whole-Time Director
- Mukaladiyil Kochukunju Thomas - Director
- Jaikumar Jhamandas Bhambhaney - Director
- Sanjay Shridharrao Bokare - Director
- Alexander Chandpillai Mathen - Director
Ray Constructions reported a net profit of ₹1.08 Cr (net margin 1.3%) and EBITDA of ₹6.08 Cr (EBITDA margin 7.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Ray Constructions is -18% over three years and -11% over five years. In the latest year (FY 2025) revenue fell 25%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Ray Constructions is 27AAACR5277K1ZZ, registered in Maharashtra. The company has 13 GST registrations in all, of which 10 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACR5277K2ZY (Maharashtra), 29AAACR5277K1ZV (Karnataka), 32AAACR5277K1Z8 (Kerala).
The CIN (Corporate Identification Number) of Ray Constructions is U45200MH1986PLC041047. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ray Constructions has 64 court cases on record: 42 filed by the company and 17 filed against it. 7 are pending. Most are in the high courts.
Ray Constructions was incorporated on 26 September 1986, making it 40+ years old. It is registered with the Registrar of Companies, Mumbai.
Ray Constructions has 10 deals on record (8 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.22 Cr; the latest was in September 2023.
The peers of Ray Constructions by revenue are Vil Limited, Enkebee Infratech India Private Limited, Maloo Constructions (India) Private Limited, Ganpati Mega Builders (India) Private Limited, Swastik Habitates ( India) Private Limited and 5 more, all in the Infrastructure industry (Construction Services).