MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-05-0001159
Rushil Industries Limited - transport and logistics in Bhavnagar, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹4.68 Cr
▼ 85% YoY
Net profit · FY 2025
₹81.85 Lakh
Net margin 17.5%
EBITDA · FY 2025
₹2.88 Cr
EBITDA margin 61.6%
Authorised capital
₹4 Cr
Registered with MCA
Paid-up capital
₹3.14 Cr
Issued & subscribed
Satisfied charges
₹405.81 Cr
No open charges
Company age
36 yrs
Est. 1990
Employees · EPFO
26
Provident fund records
About Rushil Industries Limited
Data last updated:
Rushil Industries Limited is a public limited company based in Bhavnagar, Gujarat, India. It operates in the shipbroking and shipping agency services segment of the transport and logistics sector. It was incorporated on 20 April 1990 and has been in existence for over 36 years.
Its director Chetan M Tamboli and family are #1,277 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U27101GJ1990PLC013653. Its GSTIN is 24AABCR0170N1ZG (Gujarat).
The company has an authorised share capital of ₹4 Cr and a paid-up capital of ₹3.14 Cr. It is led by directors including Chetankumar Manmohanbhai Tamboli (Managing Director) and Manaliben Chetankumar Tamboli.
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 Bhavnagar, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.68 Cr, a decline of 85% compared to the previous year. For the same year it recorded a net profit of ₹81.85 Lakh (net margin 17.5%) and EBITDA of ₹2.88 Cr (EBITDA margin 61.6%). Revenue has declined at a compounded annual rate (CAGR) of 57% over three years and 40% over five years.
The company has about 26 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has satisfied charges of ₹405.81 Cr on record. Court records list 14 cases involving the company, including 8 filed by the company and 6 filed against it; 3 cases are pending. The company has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5 Cr; the latest was in July 2020. Its 3 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers, Ship Broking and Shipping Agency), with the same principal business activity (metal and metal products) are compared by revenue, 3 smaller; the largest is Electronica Hitech Engineering Private Limited with revenue of ₹4.68 Cr.
Rushil Industries Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-05-0001159). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website recycleindia.com.
Company details
CIN U27101GJ1990PLC013653
Registration Number 013653
Incorporation Date 20 April 1990
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-05-0001159
Key People
Chetankumar Manmohanbhai Tamboli Managing Director Manaliben Chetankumar Tamboli Director Mukesh Champaklal Babu Director Recognitions & Rankings of Rushil Industries
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,277 Chetan M Tamboli & family ₹1,800 Cr
Contact details
Rushil Industries Limited's registered office is in Bhavnagar, Gujarat. Its website is recycleindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressOffice No.203 Plot No.1874 C 2nd Floor, Sarthik Atabhai Chowk, Bhavnagar, Gujarat, India – 364002
- IndustryTransport and Logistics, Shipbroking & Shipping Agency Services
To see the full contact details of Rushil Industries Limited, buy the company report.
Comprehensive company report
Rushil Industries Limited - one report that includes everything
- 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
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Business activity
The main business activity of Rushil Industries is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Rushil Industries Limited, buy the company report.
Financials of Rushil Industries Limited
FY 2024 filings availableRushil Industries Limited reported revenue of ₹4.68 Cr (down 85% YoY) for FY 2025.
Revenue · FY 2025
₹4.68 Cr ▼ 85%
Net profit · FY 2025
₹81.85 Lakh margin 17.5%
EBITDA · FY 2025
₹2.88 Cr margin 61.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 85%
3 years · compounded
▼ 57%
5 years · compounded
▼ 40%
EBITDA CAGR growth
1 year
▼ 79%
3 years · compounded
▼ 15%
5 years · compounded
▼ 19%
Revenue has declined at a compounded annual rate (CAGR) of 40% over five years, including a 85% fall in the latest year. EBITDA fell 79% 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 | |||||
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| Cost of Materials Consumed | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹2.88 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹81.85 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 61.6% | ||||
| Net Profit Margin | 17.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
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To see the full financial statements and ratios of Rushil Industries Limited, buy the company report.
Board of directors of Rushil Industries Limited
Rushil Industries has 4 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manaliben Chetankumar Tamboli Also directs: Tamboli Trading LLP | Director | 15 May 2009 | 17 Years 5 Months | Current |
| Mukesh Champaklal Babu Also directs: Venus Green Recycling LLP, Mukesh Babu Financial Services Limited, Rushil Recycling Private Limited and 5 more | Director | 06 Jul 2020 | 6 Years 3 Months | Current |
| Manishkumar Nagindas Shah Also directs: Rushil Recycling Private Limited, Miloni Enterprise Limited, KMS Multitrade LLP and 5 more | Director | 10 Feb 2006 | 20 Years 8 Months | Current |
| Chetankumar Manmohanbhai Tamboli Also directs: Tamboli Trading LLP, Venus Green Recycling LLP, Bhavnagar Industrial Parts LLP and 5 more | Managing Director | 20 Apr 1990 | 36 Years 6 Months | Current |
Peer comparison
Rushil Industries Limited is compared with the 3 companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers, Ship Broking and Shipping Agency), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Rushil Industries Limitedthis company | ₹4.68 Cr (FY 2025) | ₹81.85 Lakh | 17.5% | -85.0% | 26 | Bhavnagar, Gujarat, India |
| Electronica Hitech Engineering Private Limited | ₹4.68 Cr (FY 2025) | 0.0% | Pune, Maharashtra, India | |||
| Bil Metal Industries Limited | ₹4.68 Cr (FY 2025) | 4.0% | Vadodara, Gujarat, India | |||
| Redix Industries Private Limited | ₹4.68 Cr (FY 2025) | -27.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Rushil Industries Limited, buy the company report.
Auditor
Rushil Industries Limited is audited by V.M.Shah & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V.M.Shah & Co. | FY 2023 | 109826W |
Shareholding
The shareholding of Rushil Industries 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 Rushil Industries Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹405.81 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 02 Jun 2010 | 10223074 | Others | ₹126 Cr | Satisfied | |
| 06 Apr 2009 | 10154388 | State Bank of India | ₹38.44 Cr | Satisfied | |
| 16 Sep 2004 | 90099896 | State Bank of Saurashtra | ₹60 Cr | Satisfied | |
| 17 Jun 2004 | 90099843 | State Bank of Saurashtra | ₹1.37 Cr | Satisfied | |
| 02 Sep 2003 | 80057193 | State Bank of Saurashtra | ₹90 Cr | Satisfied |
To see the full charge records of Rushil Industries Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Rushil Industries Limited has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5 Cr; the latest was in July 2020.
Total deals
5
Secondary share transfers
3
Funding rounds
2
Disclosed funding
₹5 Cr
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2020 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Dynamic Ship Recyclers Private Limited |
| Apr 2017 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Mukeshbabu Financial Services Limited |
| Mar 2017 | Funding round | ₹4.5 Cr | Investors: Dynamic Ship Recyclers Private Limited |
| Mar 2011 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Mukeshbabu Financial Services Limited, 3 individuals |
| Nov 2008 | Funding round | ₹50 Lakh | Investors: Mukeshbabu Financial Services Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Rushil Industries Limited has 14 court cases on record: 8 filed by Rushil Industries, 6 filed against it. 3 cases are pending and 11 are disposed.
Total cases
14
Filed by the company
8
Filed against the company
6
Pending
3
Disposed
11
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 2 | 2 |
| High courts | 6 | 2 | 1 |
| Supreme Court | 2 | 2 | 0 |
Cases on record (5 of 14)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Bhavnagar, Gujarat | Court case (WC-MIS-LC) | Filed against the company by an individual | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against The Assistant Commissioner of Income Tax | Pending |
| District court, Bhavnagar, Gujarat | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, Bhavnagar, Gujarat | Court case (SPCS) | Filed by the company against M. L. Agarwal Steel and Alloys Pvt. Ltd. | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against individuals | Disposed |
To see the full case history of Rushil Industries 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
Rushil Industries Limited was last rated by Icra on 28 Feb 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 28 Feb 2022 |
To see the full credit ratings and regulatory alerts of Rushil Industries Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Rushil Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Rushil Industries has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Rushil Global Trade Limited | U46699GJ2010PLC059849 |
To see the full group structure of Rushil Industries Limited, buy the company report.
Employees & EPFO
Rushil Industries Limited has a workforce of 26 employees on its EPFO records as of Mar 22, 2024, across 1 active EPFO establishment.
Employee count
26
Active EPFO establishments
1
Employee growth
-76.99%
GST
Rushil Industries has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCR0170N1ZG | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Rushil Industries Limited, buy the company report.
Recent activity
Rushil Industries Limited has 9 board changes on record since 1990: 4 appointments and 5 cessations. The latest: Bhupendra Jayantilal Parikh ceased to be Director on 14 Jun 2024.
AGM
Rushil Industries Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Ceased
Bhupendra Jayantilal Parikh ceased to be Director.
Ceased
Chirag Rashendrabhai Vora ceased to be Director.
Filing
Rushil Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ahmedabad.
Charges
A charge registered on 02 Jun 2010 via Charge ID 10223074 with Others was fully satisfied on 27 Sep 2023.
Charges
A charge with Others of Rs. 126.00 Cr registered on 02 Jun 2010 with Charge ID 10223074 was modified on 20 Jan 2022.
Ceased
Mukesh Champaklal Babu ceased to be Additional Director.
Appointed
Mukesh Champaklal Babu was appointed as Director.
Charges
A charge registered on 06 Apr 2009 via Charge ID 10154388 with State Bank Of India was fully satisfied on 04 Oct 2016.
Charges
A charge with State Bank Of India of Rs. 38.44 Cr registered on 06 Apr 2009 with Charge ID 10154388 was modified on 25 Nov 2015.
Charges
A charge registered on 16 Sep 2004 via Charge ID 90099896 with State Bank Of Saurashtra was fully satisfied on 28 May 2012.
Charges
A charge registered on 17 Jun 2004 via Charge ID 90099843 with State Bank Of Saurashtra was fully satisfied on 28 May 2012.
15 earlier events are in the company report.
Frequently asked questions
Rushil Industries is an active public limited company based in Bhavnagar, Gujarat, India. The company works in shipbroking and shipping agency services, within the transport and logistics industry. It was incorporated on 20 April 1990 (36+ years old) and is registered under CIN U27101GJ1990PLC013653.
Rushil Industries has 4 current directors:
- Chetankumar Manmohanbhai Tamboli - Managing Director
- Manaliben Chetankumar Tamboli - Director
- Mukesh Champaklal Babu - Director
- Manishkumar Nagindas Shah - Director
The latest financial statements of Rushil Industries on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Rushil Industries is 24AABCR0170N1ZG, registered in Gujarat.
The CIN (Corporate Identification Number) of Rushil Industries is U27101GJ1990PLC013653. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Rushil Industries has 14 court cases on record: 8 filed by the company and 6 filed against it. 3 are pending. Most are in the district courts.
Rushil Industries was incorporated on 20 April 1990, making it 36+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Rushil Industries has 5 deals on record (3 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5 Cr; the latest was in July 2020.
The peers of Rushil Industries by revenue are Electronica Hitech Engineering Private Limited, Bil Metal Industries Limited, Redix Industries Private Limited, all in the Machinery and Equipment industry (Industrial Products Manufacturers, Ship Broking and Shipping Agency), with the same principal business activity (metal and metal products).
Bhupendra Jayantilal Parikh ceased to be Director on 14 Jun 2024. Chirag Rashendrabhai Vora ceased to be Director on 14 Jun 2024. Mukesh Champaklal Babu ceased to be Additional Director on 30 Sep 2020. Rushil Industries has 9 board changes on record in total.
Yes, Rushil Industries is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-05-0001159).