India's Most Valuable Companies 2025 edition · Source: Hurun India
- Valuation
- ₹21,630 Cr
2024 #243
Shahi Exports Private Limited - manufacturing in New Delhi, Delhi, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹9,363.49 Cr
▼ 8% YoY
Net profit · FY 2024
₹1,162.54 Cr
Net margin 12.4%
EBITDA · FY 2024
₹1,877.77 Cr
EBITDA margin 20.1%
Authorised capital
₹15.77 Cr
Registered with MCA
Paid-up capital
₹13.83 Cr
Issued & subscribed
Open charges
₹4,838 Cr
Satisfied ₹8,129.35 Cr
Company age
21 yrs
Est. 2005
Employees · EPFO
60,437
Provident fund records
About Shahi Exports Private Limited
Data last updated:
Shahi Exports Private Limited is a private limited company based in New Delhi, Delhi, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 15 July 2005 and has been in existence for over 21 years.
Its director Harish Ahuja is #82 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U65110HR2005PTC142404. Its GSTIN is 06AAJCS1175L1Z2 (Haryana). The company holds 18 GST registrations, of which 14 are active.
The company has an authorised share capital of ₹15.77 Cr and a paid-up capital of ₹13.83 Cr. It was formerly known as Shahi Exports Limited. It is led by directors including Palghat Balakrishnan Anandapadmanabhan and Anbazhagan Theerthagiri.
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 F – 88 Okhla Industrial Area Phase – 1, New Delhi, Delhi, India – 110020.
As per the financials filed for FY 2024, the company reported a revenue of ₹9,363.49 Cr, a decline of 8% compared to the previous year. For the same year it recorded a net profit of ₹1,162.54 Cr (net margin 12.4%) and EBITDA of ₹1,877.77 Cr (EBITDA margin 20.1%). Revenue has grown at a compounded annual rate (CAGR) of 17% over three years and 7% over five years.
The company has about 60,437 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Bhaane and Shahi. As per MCA filings, the company has open charges of ₹4,838 Cr and satisfied charges of ₹8,129.35 Cr on record. Court records list 224 cases involving the company, including 98 filed by the company and 126 filed against it; 64 cases are pending. The company has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹88.7 Cr; the latest was in July 2019.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website shahi.co.in.
Company details
CIN U65110HR2005PTC142404
Registration Number 138730
Incorporation Date 15 July 2005
ROC Delhi
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
CIN history
Shahi Exports has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U65110HR2005PTC142404, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65110HR2005PTC142404 | Current |
| U18101DL2005PTC138730 | Previous |
| U65110DL2005PTC138730 | Previous |
Key People
Palghat Balakrishnan Anandapadmanabhan Director Anbazhagan Theerthagiri Director Balakrishna Shetty Director Recognitions & Rankings of Shahi Exports
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #82 Harish Ahuja ₹37,000 Cr
Contact details
Shahi Exports Private Limited's registered office is in New Delhi, Delhi.
- Social Media
- Registered AddressF – 88 Okhla Industrial Area Phase – 1, New Delhi, Delhi, India – 110020
- IndustryManufacturing, Textile & Fabric Production
Comprehensive company report
Shahi Exports Private 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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Brands
Shahi Exports operates two associated brands: Bhaane and Shahi. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Online retailer offering apparel, accessories, and fashion items for consumers. | bhaane.com | |
| Garments are contract-manufactured by Shahi in apparel production. | shahi.co.in |
Business activity
The main business activity of Shahi Exports is manufacturing. In detail, this covers textile, leather and other apparel products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products |
To see the full business activity and turnover split of Shahi Exports Private Limited, buy the company report.
Financials of Shahi Exports Private Limited
FY 2024 filings availableShahi Exports Private Limited reported revenue of ₹9,363.49 Cr (down 8% YoY) for FY 2024.
Revenue · FY 2024
₹9,363.49 Cr ▼ 8%
Net profit · FY 2024
₹1,162.54 Cr margin 12.4%
EBITDA · FY 2024
₹1,877.77 Cr margin 20.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 8%
3 years · compounded
▲ 17%
5 years · compounded
▲ 7%
EBITDA CAGR growth
1 year
▲ 5%
3 years · compounded
▲ 31%
5 years · compounded
▲ 17%
Revenue fell 8% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 7%. EBITDA rose 5% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Total Expenses | |||||
| EBITDA | ₹1,877.77 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1,162.54 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 20.1% | ||||
| Net Profit Margin | 12.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Shahi Exports Private Limited, buy the company report.
Board of directors of Shahi Exports Private Limited
Shahi Exports has 10 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Palghat Balakrishnan Anandapadmanabhan | Director | 02 Jan 2024 | 2 Years 10 Months | Current |
| Anbazhagan Theerthagiri | Director | 18 Jan 2016 | 10 Years 9 Months | Current |
| Balakrishna Shetty Also directs: Ahp Apparel Private Limited | Director | 18 Jan 2016 | 10 Years 9 Months | Current |
| Alagappan Rajendran | Director | 11 Dec 2023 | 2 Years 10 Months | Current |
| Vinod Kumar Bhardwaj Also directs: Stallion Infratech LLP | Director | 21 Aug 2009 | 17 Years 2 Months | Current |
| Ramanujam Venkat Raghavan Also directs: Stanley Lifestyles Limited | Director | 27 Oct 2014 | 12 Years 0 Months | Current |
Showing 6 of 10 current directors. View all directors
Charges & borrowings
Open charges
₹4,838 Cr
Satisfied charges
₹8,129.35 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Jun 2025 | 101111121 | Hdfc Bank Limited | ₹188 Cr | Open | |
| 20 May 2025 | 101099294 | Hdfc Bank Limited | ₹125 Cr | Open | |
| 01 Sep 2023 | 100777321 | Yes Bank Limited | ₹1,250 Cr | Open | |
| 31 Aug 2022 | 100613730 | Others | ₹1,000 Cr | Open | |
| 18 Jan 2022 | 100529595 | Others | ₹200 Cr | Open |
To see the full charge records of Shahi Exports Private Limited, buy the company report.
Total charge records: 49 View all charges
Deals & funding
Shahi Exports Private Limited has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹88.7 Cr; the latest was in July 2019.
Total deals
7
Funding rounds
4
Secondary share transfers
3
Disclosed funding
₹88.7 Cr
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2019 | Secondary share transfer | Undisclosed | Buyer: Hpa Business Trust Seller: an individual |
| Apr 2015 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Seh Apparel (India) Private Limited , S F G Developers Private Limited , P.H. Estates Private Limited |
| Mar 2010 | Funding round | ₹72.64 Cr | Investors: Delhi Brass and Metal Works Private Limited |
| Mar 2006 | Funding round | ₹11.3 Cr | Investors: Delhi Brass and Metal Works Private Limited |
To see the full deal history of Shahi Exports 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
Shahi Exports Private Limited has 224 court cases on record: 98 filed by Shahi Exports, 126 filed against it. 64 cases are pending and 160 are disposed.
Total cases
224
Filed by the company
98
Filed against the company
126
Pending
64
Disposed
160
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 124 | 84 | 31 |
| High courts | 93 | 39 | 33 |
| Supreme Court | 6 | 3 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 224)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Arbitration matter | Filed against the company by Meenu Creation LLP | Pending |
| District court, SHIVAMOGGA, Karnataka | Criminal complaint | Filed by the company against Epic Yarns Private Limited, Maharashtra. | Pending |
| High Court of Karnataka | Writ petition | Filed by the company against Karnataka Power Transmission Corporation Limited (Kptcl), and 2 others | Pending |
| High Court | Appeal | Filed by the company against Walmart India Pvt. Ltd., and 8 others | Pending |
| District court, SHIVAMOGGA, Karnataka | Criminal complaint | Filed by the company against Epic Yarns Private Limited, Maharashtra. | Disposed |
To see the full case history of Shahi Exports 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
Shahi Exports Private Limited was last rated by Indiarating on 13 Jan 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 13 Jan 2023 |
To see the full credit ratings and regulatory alerts of Shahi Exports Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Shahi Exports Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Shahi Exports has 18 GST registrations: 14 active and 4 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
18
Active
14
Cancelled / inactive
4
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAJCS1175L1Z2 | Haryana | Active | 01 Jul 2017 |
| 06AAJCS1175L2Z1 | Haryana | Active | 06 Mar 2025 |
| 07AAJCS1175L1Z0 | Delhi | Active | 01 Jul 2017 |
| 09AAJCS1175L1ZW | Uttar Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Shahi Exports Private Limited, buy the company report.
Recent activity
Shahi Exports Private Limited has 31 board changes on record since 2005: 11 appointments and 20 cessations. The latest: Alagappan Rajendran ceased to be Additional Director on 29 Sep 2024.
Charges
A charge registered on 07 Dec 2022 via Charge ID 100659836 with Others was fully satisfied on 01 Jul 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 188.00 Cr with Charge ID 101111121 was registered on 18 Jun 2025.
Charges
A charge registered on 01 Jun 2023 via Charge ID 100729675 with Others was fully satisfied on 13 Jun 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 125.00 Cr with Charge ID 101099294 was registered on 20 May 2025.
Charges
A charge with Others of Rs. 3.13 Cr registered on 07 Dec 2022 with Charge ID 100659836 was modified on 26 Dec 2024.
Charges
A charge with Yes Bank Limited of Rs. 1,250.00 Cr registered on 01 Sep 2023 with Charge ID 100777321 was modified on 28 Oct 2024.
AGM
Shahi Exports Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge registered on 27 Sep 2017 via Charge ID 100133405 with Hdfc Bank Limited was fully satisfied on 30 Sep 2024.
Ceased
Alagappan Rajendran ceased to be Additional Director.
Ceased
Anant Ahuja ceased to be Additional Director.
Ceased
Palghat Balakrishnan Anandapadmanabhan ceased to be Additional Director.
Charges
A charge with Hdfc Bank Limited of Rs. 1,050.00 Cr registered on 29 Oct 2016 with Charge ID 100102742 was modified on 17 Sep 2024.
128 earlier events are in the company report.
News
Frequently asked questions
Shahi Exports is an active private limited company based in New Delhi, Delhi, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 15 July 2005 (21+ years old) and is registered under CIN U65110HR2005PTC142404.
Shahi Exports has 10 current directors:
- Palghat Balakrishnan Anandapadmanabhan - Director
- Anbazhagan Theerthagiri - Director
- Balakrishna Shetty - Director
- Alagappan Rajendran - Director
- Vinod Kumar Bhardwaj - Director
- Ramanujam Venkat Raghavan - Director
- Jalandhar Dattubuwa Giri - Director
- Thaiyalbagam Ramalingam - Director
- Harish Ahuja - Director
- Anant Ahuja - Director
The latest financial statements of Shahi Exports 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 Shahi Exports is 06AAJCS1175L1Z2, registered in Haryana. The company has 18 GST registrations in all, of which 14 are active and 4 are cancelled or inactive. Other active GSTINs include 06AAJCS1175L2Z1 (Haryana), 07AAJCS1175L1Z0 (Delhi), 09AAJCS1175L1ZW (Uttar Pradesh).
The CIN (Corporate Identification Number) of Shahi Exports is U65110HR2005PTC142404. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Shahi Exports has 224 court cases on record: 98 filed by the company and 126 filed against it. 64 are pending. Most are in the district courts.
Shahi Exports was incorporated on 15 July 2005, making it 21+ years old. It is registered with the Registrar of Companies, Delhi.
Shahi Exports has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹88.7 Cr; the latest was in July 2019.
Alagappan Rajendran ceased to be Additional Director on 29 Sep 2024. Anant Ahuja ceased to be Additional Director on 29 Sep 2024. Palghat Balakrishnan Anandapadmanabhan ceased to be Additional Director on 29 Sep 2024. Shahi Exports has 31 board changes on record in total.
Shahi Exports can be reached through the website shahi.co.in. Its registered office is in New Delhi, Delhi, India.
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