About Saraf Chemicals Private Limited
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Saraf Chemicals Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the colorants segment of the chemicals and materials sector. It was incorporated on 20 July 1984 and has been in existence for over 42 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24100MH1984PTC033486. Its GSTIN is 27AABCS8425M1ZX (Maharashtra).
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹6 Cr. It was formerly known as Vardhan Capital and Finance Limited and Saraf Chemicals Limited. It is led by directors including Naresh Mahavirprasad Saraf (Managing Director) and Prakash Mahavirprasad Saraf (Managing Director).
Its last annual general meeting (AGM) was held on 25 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 501/502 Waterford Building 'C' Wing C.D. Barfiwala Marg Andheri(West), Mumbai, Maharashtra, India – 400058.
As per the financials filed for FY 2025, the company reported a revenue of ₹271.96 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net profit of ₹39.13 Cr (net margin 14.4%) and EBITDA of ₹51.54 Cr (EBITDA margin 19%). Revenue has declined at a compounded annual rate (CAGR) of 21% over three years and 5% over five years.
As per MCA filings, the company has open charges of ₹18 Cr and satisfied charges of ₹131.37 Cr on record. Court records list 33 cases involving the company, including 18 filed by the company and 15 filed against it; 7 cases are pending. The company has 7 deals on record (5 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.96 Cr; the latest was in September 2023. Its 8 peer companies in the Chemicals industry (API Manufacturers, Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 4 smaller; the largest is Jagson Pal Pharmaceuticals Limited. with revenue of ₹276.91 Cr. The company has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 135 overdue payments to 19 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 sarex.com.
Company details
Name history
Saraf Chemicals has undergone 2 name changes throughout its history. The company was previously known as Vardhan Capital And Finance Limited, and Saraf Chemicals Limited. The current legal name is Saraf Chemicals Private Limited.
| Company Name | Status |
|---|---|
| Saraf Chemicals Private Limited | Current |
| Vardhan Capital And Finance Limited | Previous |
| Saraf Chemicals Limited | Previous |
CIN history
Saraf Chemicals has one previous CIN (Corporate Identification Number): U24100MH1984PLC033486. The current CIN is U24100MH1984PTC033486, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24100MH1984PTC033486 | Current |
| U24100MH1984PLC033486 | Previous |
Contact details
Saraf Chemicals Private Limited's registered office is in Mumbai, Maharashtra. Its website is sarex.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address501/502 Waterford Building 'C' Wing C.D. Barfiwala Marg Andheri(West), Mumbai, Maharashtra, India – 400058
- IndustryChemicals and Materials, Colorants, Dyes & Pigments
To see the full contact details of Saraf Chemicals 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 Saraf Chemicals is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Saraf Chemicals Private Limited, buy the company report.
Financials of Saraf Chemicals Private Limited
FY 2025 filings availableSaraf Chemicals Private Limited reported revenue of ₹271.96 Cr (up 16% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 16% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 5%. EBITDA rose 34% 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 | ₹271.96 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹51.54 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹39.13 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 | 19% | ||||
| Net Profit Margin | 14.4% | ||||
| 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 Saraf Chemicals Private Limited, buy the company report.
Board of directors of Saraf Chemicals Private Limited
Saraf Chemicals has 4 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Naresh Mahavirprasad Saraf | Managing Director | 01 Apr 2008 | 18 Years 7 Months | Current |
| Prakash Mahavirprasad Saraf Also directs: Sarex Organics Private Limited, Saraf Fine Chemicals Private Limited, Supertex Chemicals Private Limited and 1 more | Managing Director | 31 Dec 1984 | 41 Years 10 Months | Current |
| Mukesh Kumar Agrawal Also directs: Sarex Organics Private Limited | Director | 01 Oct 2024 | 2 Years 1 Months | Current |
| Ashok Mahavirprasad Saraf Also directs: Sarex Organics Private Limited, Saraf Fine Chemicals Private Limited, Supertex Chemicals Private Limited and 3 more | Managing Director | 20 Jul 1984 | 42 Years 3 Months | Current |
Peer comparison
Saraf Chemicals Private Limited is compared with the 8 companies closest to it by revenue in the Chemicals industry (API Manufacturers, Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Jagson Pal Pharmaceuticals Limited. | ₹276.91 Cr (FY 2025) | 27.0% | New Delhi, Delhi, India | |||
| Sicer India Private Limited | ₹275.1 Cr (FY 2025) | 27.0% | Wankaner, Gujarat, India | |||
| Embio Limited | ₹274.76 Cr (FY 2025) | 49.0% | Mumbai, Maharashtra, India | |||
| Sodium Metal Pvt Ltd | ₹273.32 Cr (FY 2023) | -11.0% | Vadodara, Gujarat, India | |||
| Saraf Chemicals Private Limitedthis company | ₹271.96 Cr (FY 2025) | ₹39.13 Cr | 14.4% | 16.0% | Mumbai, Maharashtra, India | |
| Venkata Narayana Active Ingredients Private Limited | ₹271.82 Cr (FY 2025) | 53.0% | Chennai, Tamil Nadu, India | |||
| K Patel Chemo-Pharma Private Limited | ₹271.29 Cr (FY 2025) | 23.0% | Ankleshwar, Gujarat, India | |||
| Narayan Organics Pvt Ltd | ₹267.9 Cr (FY 2024) | 23.0% | Ahmedabad, Gujarat, India | |||
| Soujanya Color Private Limited | ₹264.46 Cr (FY 2025) | 3.0% | Navi Mumbai, Maharashtra, India |
To see the full peer comparison of Saraf Chemicals Private Limited, buy the company report.
Auditor
Saraf Chemicals Private Limited is audited by DELOITTE HASKINS & SELLS LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DELOITTE HASKINS & SELLS LLP | FY 2025 | 117366W/W-100018 |
Shareholding
The shareholding of Saraf Chemicals Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Saraf Chemicals Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Mar 2016 | 100046920 | Citi Bank N.A. | ₹11 Cr | Open | |
| 12 Feb 2015 | 10551065 | The Hongkong and Shanghai Banking Corporation Limited | ₹7 Cr | Open | |
| 19 Apr 2021 | 100451412 | Citi Bank N.A. | ₹45 Cr | Satisfied | |
| 26 Feb 2020 | 100370131 | Others | ₹70.11 Lakh | Satisfied | |
| 29 Nov 2019 | 100310607 | The Hongkong and Shanghai Banking Corporation Limited | ₹13 Cr | Satisfied |
To see the full charge records of Saraf Chemicals Private Limited, buy the company report.
Total charge records: 18 View all charges
Deals & funding
Saraf Chemicals Private Limited has 7 deals on record (5 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.96 Cr; the latest was in September 2023.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Naresh M Saraf HUF, Ashok M Saraf HUF |
| Mar 2022 | Secondary share transfer | Undisclosed | Seller: Real Gem Buildtech Private Limited |
| Oct 2021 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: an individual |
| Oct 2010 | Funding round | ₹4.96 Cr | Investors: Real Gem Buildtech Private Limited |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 3 individuals |
To see the full deal history of Saraf Chemicals Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Saraf Chemicals Private Limited has 33 court cases on record: 18 filed by Saraf Chemicals, 15 filed against it. 7 cases are pending and 26 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 14 | 5 |
| District courts | 3 | 1 | 0 |
| Supreme Court | 3 | 0 | 2 |
Cases on record (5 of 33)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1503-Appeal Against Orders Of Statutory Bodies : Tribunals) | Filed by the company against 1 JSW Steel Coated Products Ltd. Through Its Authorised Representative JSW Centre, Bandra Kurla Complex, Mumbai, Maharashtra-400 051. ,Mumbai , Maharashtra and 11 others | Pending |
| Supreme Court | Court case (1503-Appeal Against Orders Of Statutory Bodies : Tribunals) | Filed by the company against 1 Tarapur Environment Protection Society, Through Its Authorised Signatory Plot No. Am-29/ PT, Neat Shivaji Nagar, Midc Tarapur, Dist: Palghar, Maharashtra &Ndash; 401506 , , Other and 12 others | Pending |
| High Court, MAHARASHTRA | Court case (CARAP) | Filed against the company by Galaxy Iec India Pvt Ltd. | Disposed |
| Bombay High Court | Court case (NMA) | Filed against the company by Central Bank of India | Disposed |
| Bombay High Court | Court case (APP) | Filed against the company by Central Bank of India | Disposed |
To see the full case history of Saraf Chemicals 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.
Credit ratings & regulatory alerts
Saraf Chemicals Private Limited was last rated by Care on 31 Mar 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 31 Mar 2023 |
To see the full credit ratings and regulatory alerts of Saraf Chemicals Private Limited, buy the company report.
MSME payment delays
Saraf Chemicals Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 135 overdue payments to 19 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 19)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Grand Organics Private Limited | |||
| an individual supplier | |||
| Mahamaya Polymers Private Limited | |||
| Vic Industries | |||
| Soham Polymers Private Limited |
To see the full MSME payment records of Saraf Chemicals Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Saraf Chemicals has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCS8425M1ZX | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Saraf Chemicals Private Limited, buy the company report.
Recent activity
Saraf Chemicals Private Limited has 11 board changes on record since 1984: 4 appointments and 7 cessations. The latest: Mukesh Kumar Agrawal ceased to be Additional Director on 24 Aug 2025.
46 earlier events are in the company report.
Frequently asked questions
Saraf Chemicals is an active private limited company based in Mumbai, Maharashtra, India. The company works in colorants, within the chemicals and materials industry. It was incorporated on 20 July 1984 (42+ years old) and is registered under CIN U24100MH1984PTC033486.
Saraf Chemicals has 4 current directors:
- Naresh Mahavirprasad Saraf - Managing Director
- Prakash Mahavirprasad Saraf - Managing Director
- Ashok Mahavirprasad Saraf - Managing Director
- Mukesh Kumar Agrawal - Director
The latest financial statements of Saraf Chemicals on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Saraf Chemicals is 27AABCS8425M1ZX, registered in Maharashtra.
The CIN (Corporate Identification Number) of Saraf Chemicals is U24100MH1984PTC033486. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Saraf Chemicals has 33 court cases on record: 18 filed by the company and 15 filed against it. 7 are pending. Most are in the high courts.
Saraf Chemicals was incorporated on 20 July 1984, making it 42+ years old. It is registered with the Registrar of Companies, Mumbai.
Saraf Chemicals has 7 deals on record (5 secondary share transfers, 2 funding rounds), with disclosed funding of ₹5.96 Cr; the latest was in September 2023.
The peers of Saraf Chemicals by revenue are Jagson Pal Pharmaceuticals Limited, Sicer India Private Limited, Embio Limited, Sodium Metal Pvt Ltd, Venkata Narayana Active Ingredients Private Limited and 3 more, all in the Chemicals industry (API Manufacturers, Dyes and Pigments), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Mukesh Kumar Agrawal ceased to be Additional Director on 24 Aug 2025. Mukesh Kumar Agrawal was appointed as Director on 01 Oct 2024. Naresh Mahavirprasad Saraf ceased to be Whole-Time Director on 01 Jan 2020. Saraf Chemicals has 11 board changes on record in total.
Saraf Chemicals has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 135 overdue payments to 19 micro and small suppliers. The latest return was filed on 27 Apr 2024.
Saraf Chemicals can be reached through the website sarex.com. Its registered office is in Mumbai, Maharashtra, India.
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