About Rubicon Research Limited
Data last updated: 08 January 2026
Rubicon Research Limited is a public limited company based in Thane, Maharashtra, India, a subsidiary of General Atlantic Singapore Rr. It specialises in chemical products, a part of the broader chemicals sector. Incorporated on 06 May 1999, the company has been in operation for over 27 years.
Registered with ROC Mumbai under CIN U73100MH1999PTC119744. Listed.
Capital: an authorised share capital of ₹23.9 Cr and a paid-up capital of ₹16.48 Cr. Formerly known as Rubicon Consultants Private Limited and Rubicon Research Limited. It is led by directors including Anand Agarwal and Pratibha Sudhir Pilgaonkar.
Last AGM: 08 July 2024. Financial statements filed for year ended 31 March 2024. Office: Medone House B – 75 Road No. 33 Wagle Estate Thane West, Maharashtra, India – 400604.
As per the financials filed for FY 2024, the company reported a revenue of ₹872.39 Cr, a growth of 108% compared to the previous year.
The company has a workforce of approximately 827 employees as per the latest available data. It operates as a subsidiary of General Atlantic Singapore Rr. Its group structure includes 2 subsidiaries.
The company is associated with 1 brand - Rubicon Research. As per MCA filings, the company has open charges of ₹843.23 Cr and satisfied charges of ₹132.36 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website rubicon.co.in.
-
Email*****@*****.com
-
Telephone+91-****-******
-
Website
-
Social Media
-
Registered AddressMedone House B – 75 Road No. 33 Wagle Estate Thane West, Maharashtra, India – 400604
-
IndustryChemicals, Chemical Products, Medicinal Chemical & Botanical Products, Pharmaceuticals
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Name History of Rubicon Research Limited
Rubicon Research Limited has undergone 2 name changes throughout its history. The company was previously known as Rubicon Consultants Private Limited, and Rubicon Research Limited. The current legal name is Rubicon Research Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Rubicon Research Limited | Current |
| Rubicon Consultants Private Limited | Previous |
CIN History of Rubicon Research Limited
Rubicon Research Limited has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L73100MH1999PLC119744, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L73100MH1999PLC119744 | Current |
| U73100MH1999PTC119744 | Previous |
| U73100MH1999PLC119744 | Previous |
Associated Brands with Rubicon Research Limited
Rubicon Research Limited operates one associated brand: Rubicon Research. These brands represent Rubicon Research Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Drug development services are offered through proprietary delivery technologies. | rubicon.co.in |
Competitors & Alternatives of Rubicon Research Limited
Brands and companies operating in the same space as Rubicon Research Limited include Jubilant Life Sciences, Akums, Nectar Lifesciences and 5 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Jubilant Life Sciences
|
Company offering a suite of R&D and manufacturing services for small molecules and generics | Noida, India, India | 1978 |
Akums
|
CDMO focusing on spectrum of dosage forms and therapeutic segments | Delhi, India, India | 2004 |
Nectar Lifesciences
|
Cephalosporin APIs and generic formulations are manufactured. | Chandigarh, India, India | 1995 |
Windlas
|
Biopharma regulatory affairs, quality control, and strategy services are provided. | Gurugram, India, India | 2001 |
Unither
|
Contract development and manufacturing organization for proprietary and generic drugs | Paris, France, France | 1993 |
Recipharm
|
Pharmaceutical development and manufacturing services are offered contractually. | Jordbro, Sweden, Sweden | 1995 |
CoreRx
|
CDMO with a focus on early phase drug product development | Clearwater, United States, United States | 2006 |
MedPharm
|
Topical and inhaled drug delivery formulations are developed and manufactured. | Guildford, United Kingdom, United Kingdom | 1998 |
Business Activity of Rubicon Research Limited
Rubicon Research Limited is engaged in principal business activities including manufacturing and professional, scientific and technical, with detailed activities including chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products, scientific research and development. The company has 2 registered principal business activity segments, demonstrating its operational diversity and market reach.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | ********* |
| M | Professional, Scientific and Technical | M5 | Scientific research and development | ********* |
Auditor Details of Rubicon Research Limited
Rubicon Research Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Deloitte Haskins & Sells LLP | blur-value | blur-value | blur-value |
Board of Directors of Rubicon Research Limited
Rubicon Research Limited is currently managed by 9 directors, with 15 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Anand Agarwal
Also directs:
Indiaideas Com Limited, General Atlantic Private Limited
|
Nominee Director | 03 Jan 2025 | 1 Years 6 Months | Current |
| Pratibha Sudhir Pilgaonkar | Managing Director | 01 Jun 2000 | 26 Years 1 Months | Current |
| Parag Suganchand Sancheti | Director | 27 Jan 2017 | 9 Years 5 Months | Current |
|
Changavalli Venkat
Also directs:
Sree Ramachandra Health Services Private Limited
|
Director | 11 Jun 2024 | 2 Years 0 Months | Current |
|
Varun Talukdar
Also directs:
Asg Hospital Private Limited, Cygnus Medicare Private Limited, Absolute Barbeque Private Limited and 1 more
|
Director | 05 Sep 2023 | 2 Years 10 Months | Current |
|
Nitin Jajodia
Also directs:
Kia Health Tech Private Limited
|
Cfo | 27 May 2024 | 2 Years 1 Months | Current |
Financials of Rubicon Research Limited FY 2024 filings available
Rubicon Research Limited reported revenue of ₹872.39 Cr (up 108% YoY) for FY 2024. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue from Operations | ***** | ***** | ***** | ***** | ***** |
| Revenue Growth % | ***** | ***** | ***** | ***** | ***** |
| Other Income | ***** | ***** | ***** | ***** | ***** |
| Total Revenue | ***** | ***** | ***** | ***** | ***** |
| Expenses | |||||
| Total Expenses | ***** | ***** | ***** | ***** | ***** |
| Raw Material Cost | ***** | ***** | ***** | ***** | ***** |
| Change in Inventory FG | ***** | ***** | ***** | ***** | ***** |
| Change in Inventory WIP | ***** | ***** | ***** | ***** | ***** |
| Purchase of Traded Goods | ***** | ***** | ***** | ***** | ***** |
| Employee Cost | ***** | ***** | ***** | ***** | ***** |
| Managerial Remuneration | ***** | ***** | ***** | ***** | ***** |
| Audit Fees | ***** | ***** | ***** | ***** | ***** |
| Insurance | ***** | ***** | ***** | ***** | ***** |
| Power & Fuel | ***** | ***** | ***** | ***** | ***** |
| Interest | ***** | ***** | ***** | ***** | ***** |
| Depreciation | ***** | ***** | ***** | ***** | ***** |
| Other Expenses | ***** | ***** | ***** | ***** | ***** |
| Profitability | |||||
| EBITDA (Operating Profit) | ***** | ***** | ***** | ***** | ***** |
| Operating Margin % | ***** | ***** | ***** | ***** | ***** |
| Exceptional Items | ***** | ***** | ***** | ***** | ***** |
| Extraordinary Items | ***** | ***** | ***** | ***** | ***** |
| Profit Before Exceptional & Extraordinary Items | ***** | ***** | ***** | ***** | ***** |
| Profit Before Tax | ***** | ***** | ***** | ***** | ***** |
| Tax & Net Profit | |||||
| Tax Expense | ***** | ***** | ***** | ***** | ***** |
| Current Tax | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax | ***** | ***** | ***** | ***** | ***** |
| Profit from Discontinued Operations | ***** | ***** | ***** | ***** | ***** |
| Tax on Discontinued Operations | ***** | ***** | ***** | ***** | ***** |
| Profit | ***** | ***** | ***** | ***** | ***** |
| Net Margin % | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Shareholders' Funds | |||||
| Total Shareholders' Funds | ***** | ***** | ***** | ***** | ***** |
| Equity Capital | ***** | ***** | ***** | ***** | ***** |
| Reserves & Surplus | ***** | ***** | ***** | ***** | ***** |
| Money Against Warrants | ***** | ***** | ***** | ***** | ***** |
| Other Equity | ***** | ***** | ***** | ***** | ***** |
| Non-Current Liabilities | |||||
| Total Non-Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Long-Term Borrowings | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax Liabilities | ***** | ***** | ***** | ***** | ***** |
| Other Non-Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Long-Term Provisions | ***** | ***** | ***** | ***** | ***** |
| Current Liabilities | |||||
| Total Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Short-Term Borrowings | ***** | ***** | ***** | ***** | ***** |
| Trade Payables | ***** | ***** | ***** | ***** | ***** |
| Other Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Short-Term Provisions | ***** | ***** | ***** | ***** | ***** |
| Total Equity & Liabilities | ***** | ***** | ***** | ***** | ***** |
| Non-Current Assets | |||||
| Non-Current Assets | ***** | ***** | ***** | ***** | ***** |
| Tangible Assets | ***** | ***** | ***** | ***** | ***** |
| Intangible Assets | ***** | ***** | ***** | ***** | ***** |
| Capital WIP | ***** | ***** | ***** | ***** | ***** |
| Intangibles Under Dev | ***** | ***** | ***** | ***** | ***** |
| Investments | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax Assets | ***** | ***** | ***** | ***** | ***** |
| LT Loans & Advances | ***** | ***** | ***** | ***** | ***** |
| Other Non-Current Assets | ***** | ***** | ***** | ***** | ***** |
| Current Assets | |||||
| Current Assets | ***** | ***** | ***** | ***** | ***** |
| Current Investments | ***** | ***** | ***** | ***** | ***** |
| Inventories | ***** | ***** | ***** | ***** | ***** |
| Trade Receivables | ***** | ***** | ***** | ***** | ***** |
| Cash & Bank Balance | ***** | ***** | ***** | ***** | ***** |
| ST Loans & Advances | ***** | ***** | ***** | ***** | ***** |
| Other Current Assets | ***** | ***** | ***** | ***** | ***** |
| Total Assets | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Cash from Operating Activities (CFO) | |||||
| Profit Before Tax | ***** | ***** | ***** | ***** | ***** |
| Non-Cash Adjustments | ***** | ***** | ***** | ***** | ***** |
| + Interest Expense | ***** | ***** | ***** | ***** | ***** |
| + Depreciation | ***** | ***** | ***** | ***** | ***** |
| +/- Unrealized Forex | ***** | ***** | ***** | ***** | ***** |
| - Dividend Income | ***** | ***** | ***** | ***** | ***** |
| - Interest Income | ***** | ***** | ***** | ***** | ***** |
| +/- Other Non-Cash Items | ***** | ***** | ***** | ***** | ***** |
| Changes in Working Capital | ***** | ***** | ***** | ***** | ***** |
| +/- Inventory | ***** | ***** | ***** | ***** | ***** |
| +/- Debtors | ***** | ***** | ***** | ***** | ***** |
| +/- Creditors | ***** | ***** | ***** | ***** | ***** |
| Reconciliation Adjustments | ***** | ***** | ***** | ***** | ***** |
| Cash Generated from Operations | ***** | ***** | ***** | ***** | ***** |
| Income Taxes Paid | ***** | ***** | ***** | ***** | ***** |
| Net CFO (Cash from Operations) | ***** | ***** | ***** | ***** | ***** |
| Cash from Investing Activities (CFI) | |||||
| Acquisitions & Disposals | ***** | ***** | ***** | ***** | ***** |
| Disposal of Subsidiaries | ***** | ***** | ***** | ***** | ***** |
| Acquisition of Subsidiaries | ***** | ***** | ***** | ***** | ***** |
| Capex | ***** | ***** | ***** | ***** | ***** |
| Purchase of Fixed Assets | ***** | ***** | ***** | ***** | ***** |
| Sale of Fixed Assets | ***** | ***** | ***** | ***** | ***** |
| Other Investing Cash Flows | ***** | ***** | ***** | ***** | ***** |
| Net CFI (Cash from Investing) | ***** | ***** | ***** | ***** | ***** |
| Cash from Financing Activities (CFF) | |||||
| Equity Issuance | ***** | ***** | ***** | ***** | ***** |
| Debt Raised | ***** | ***** | ***** | ***** | ***** |
| Debt Repaid | ***** | ***** | ***** | ***** | ***** |
| Dividends Paid | ***** | ***** | ***** | ***** | ***** |
| Interest Paid | ***** | ***** | ***** | ***** | ***** |
| Net CFF (Cash from Financing) | ***** | ***** | ***** | ***** | ***** |
| Net Cash Position | |||||
| Net Change in Cash (Pre-Forex) | ***** | ***** | ***** | ***** | ***** |
| Closing Cash & Equivalents | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Liquidity | |||||
| Current Ratio | ***** | ***** | ***** | ***** | ***** |
| Quick Ratio | ***** | ***** | ***** | ***** | ***** |
| Cash Ratio | ***** | ***** | ***** | ***** | ***** |
| Efficiency | |||||
| Inventory Days | ***** | ***** | ***** | ***** | ***** |
| Debtor Days | ***** | ***** | ***** | ***** | ***** |
| Creditor Days | ***** | ***** | ***** | ***** | ***** |
| Cash Conversion Cycle | ***** | ***** | ***** | ***** | ***** |
| Asset Turnover | ***** | ***** | ***** | ***** | ***** |
| Profitability | |||||
| Net Profit Margin % | ***** | ***** | ***** | ***** | ***** |
| Operating Margin % | ***** | ***** | ***** | ***** | ***** |
| ROE % | ***** | ***** | ***** | ***** | ***** |
| ROCE % | ***** | ***** | ***** | ***** | ***** |
| Net Worth Margin % | ***** | ***** | ***** | ***** | ***** |
| Growth | |||||
| Revenue Growth % | ***** | ***** | ***** | ***** | ***** |
| Leverage | |||||
| Equity Multiplier | ***** | ***** | ***** | ***** | ***** |
| Debt / EBITDA | ***** | ***** | ***** | ***** | ***** |
| Solvency | |||||
| D/E Ratio | ***** | ***** | ***** | ***** | ***** |
| ICR | ***** | ***** | ***** | ***** | ***** |
Consolidated Statements
Income Statement, Balance Sheet, Cash Flow & Ratios available in the full report.
Shareholding Pattern of Rubicon Research Limited
As of FY 2023, Rubicon Research Limited's shareholding pattern shows 8.46% by promoters, 58.44% by domestic institutional investors (DII), 32.76% by public shareholders, 0.34% by others.
| Year | 2025 |
|---|---|
| Promoters | 33.19% |
| DII | 23.22% |
| FII | 18.28% |
| Public | 22.89% |
| Others | 2.42% |
Group Structure of Rubicon Research Limited
Rubicon Research Limited has 2 subsidiary companies. This group structure data is as of FY 2023. The corporate group structure reflects Rubicon Research Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| Kia Health Tech Private Limited | U24239MH2021PTC364174 |
**.**%
|
| Rubicon Consumer Healthcare Private Limited | U24304MH2020PTC340052 |
**.**%
|
Showing major subsidiaries. Total: 2.
Charges & Borrowings of Rubicon Research Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 20 May 2025 | Others | ₹60 Cr | Open |
| 22 Apr 2024 | Others | ₹50 Cr | Open |
| 21 Aug 2023 | Dbs Bank Ltd | ₹1.3 Cr | Open |
| 21 Jul 2023 | Dbs Bank Ltd | ₹20 Cr | Open |
| 22 Dec 2022 | Others | ₹60 Cr | Open |
Total charge records: 40 View all charges
Employees and EPFO Compliance at Rubicon Research Limited
Rubicon Research Limited has a workforce of 827 employees as of Apr 01, 2024.
Employee Count & EPFO Data of Rubicon Research Limited
Access employee headcount trends, monthly PF payment records, EPFO establishment details, and compliance data.
GST Compliance of Rubicon Research Limited
GSTIN & GST Filing Data of Rubicon Research Limited
Access GSTIN registrations, state-wise filing compliance, HSN/SAC codes, and detailed goods & services data.
Credit Ratings, Litigation & Regulatory Alerts for Rubicon Research Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Rubicon Research Limited
Access complete credit rating history, litigation records, regulatory alerts, and compliance data.
MSME Payment Delays by Rubicon Research Limited
MSME Payment Delays by Rubicon Research Limited
Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.
Subsidiaries & Group Companies of Rubicon Research Limited
Subsidiaries & Group Companies of Rubicon Research Limited
See the full corporate group - holding company, subsidiaries, associates and joint ventures of Rubicon Research Limited with ownership details.
MCA Filings & Documents of Rubicon Research Limited
MCA Filings & Documents of Rubicon Research Limited
Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.
Recent Activity on Rubicon Research Limited
Recent News on Rubicon Research Limited
Frequently Asked Questions about Rubicon Research Limited
Rubicon Research Limited is an active public limited company in the chemicals sector based in Thane, Maharashtra, India. It was incorporated on 06 May 1999 (27+ years old) and is registered under CIN L73100MH1999PLC119744. The company has 827 employees.
Rubicon Research Limited reported revenue of ₹872.39 Cr for FY 2024 (up 108.00% YoY).
The current directors of Rubicon Research Limited are:
The primary industry of Rubicon Research Limited is chemicals. The company specifically operates in chemical products. The company is currently active in this sector.
Yes, Rubicon Research Limited is a listed company.
Rubicon Research Limited can be reached at the registered office: Medone House B – 75 Road No. 33 Wagle Estate Thane West, Maharashtra, India – 400604, or through the website rubicon.co.in.