MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-GJ-24-0046469
Stellar Formulations Industries Private Limited - pharma in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹39.96 Cr
▲ 11% YoY
Net loss · FY 2025
₹3.89 Cr
Net margin -9.7%
EBITDA · FY 2025
-₹54.38 Lakh
EBITDA margin -1.4%
Authorised capital
₹3 Cr
Registered with MCA
Paid-up capital
₹1 Cr
Issued & subscribed
Open charges
₹3 Cr
Satisfied ₹28.84 Cr
Company age
17 yrs
Est. 2009
Employees · EPFO
80
Provident fund records
About Stellar Formulations Industries Private Limited
Data last updated:
Stellar Formulations Industries Private Limited is a private limited company based in Vadodara, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 19 November 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U24100GJ2009PTC058627. Its GSTIN is 24AANCS6006L1Z4 (Gujarat). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹1 Cr. It was formerly known as Soleil Pharma Private Limited. It is led by directors including Vinit Jayesh Shanghvi and Bhushan Nanalal Shanghvi.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 83A Alindra Savli GIDC, Vadodara, Gujarat, India – 391775.
As per the financials filed for FY 2025, the company reported a revenue of ₹39.96 Cr, a growth of 11% compared to the previous year. For the same year it recorded a net loss of ₹3.89 Cr (net margin -9.7%) and EBITDA of -₹54.38 Lakh (EBITDA margin -1.4%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 26% over five years.
The company has about 80 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹3 Cr and satisfied charges of ₹28.84 Cr on record. Court records list 1 case involving the company, including 1 filed against it.
Stellar Formulations Industries Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0046469). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website stellarformulations.com.
Company details
CIN U24100GJ2009PTC058627
Registration Number 058627
Incorporation Date 19 November 2009
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-GJ-24-0046469
Key People
Vinit Jayesh Shanghvi Director Bhushan Nanalal Shanghvi Director Rajen Nanalal Shanghvi Director Recognitions & Rankings of Stellar Formulations Industries
Contact details
Stellar Formulations Industries Private Limited's registered office is in Vadodara, Gujarat. Its website is stellarformulations.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address83A Alindra Savli GIDC, Vadodara, Gujarat, India – 391775
- IndustryPharma, Drug Formulation & Development
To see the full contact details of Stellar Formulations Industries Private Limited, buy the company report.
Comprehensive company report
Stellar Formulations Industries 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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Business activity
The main business activity of Stellar Formulations Industries 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 Stellar Formulations Industries Private Limited, buy the company report.
Financials of Stellar Formulations Industries Private Limited
FY 2025 filings availableStellar Formulations Industries Private Limited reported revenue of ₹39.96 Cr (up 11% YoY) for FY 2025.
Revenue · FY 2025
₹39.96 Cr ▲ 11%
Net loss · FY 2025
₹3.89 Cr margin -9.7%
EBITDA · FY 2025
-₹54.38 Lakh margin -1.4%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 11%
3 years · compounded
▲ 15%
5 years · compounded
▲ 26%
EBITDA CAGR growth
1 year
▼ 118%
3 years · compounded
▼ 30%
5 years · compounded
▼ 28%
Revenue has grown at a compounded annual rate (CAGR) of 26% over five years, including 11% growth in the latest year. EBITDA fell 118% 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 | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹54.38 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹3.89 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 | -1.4% | ||||
| Net Profit Margin | -9.7% | ||||
| 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 Stellar Formulations Industries Private Limited, buy the company report.
Board of directors of Stellar Formulations Industries Private Limited
Stellar Formulations Industries has 4 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vinit Jayesh Shanghvi Also directs: Echo Solutions Private Limited | Director | 06 Jan 2016 | 10 Years 10 Months | Current |
| Bhushan Nanalal Shanghvi | Director | 05 Dec 2016 | 9 Years 11 Months | Current |
| Rajen Nanalal Shanghvi | Director | 06 Jan 2016 | 10 Years 10 Months | Current |
| Jayesh Nanalal Shanghvi Also directs: Sun Petrochemicals Private Limited, Sun Petro Private Limited, Stellar Toys Industries Private Limited and 2 more | Director | 27 Apr 2015 | 11 Years 6 Months | Current |
Peer comparison
Stellar Formulations Industries Private Limited is compared with the 7 companies closest to it by revenue in the Pharma industry (Formulations), 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 |
|---|---|---|---|---|---|---|
| Integrated Laboratories Private Limited | ₹40.11 Cr (FY 2024) | 24.0% | Sirmour, Himachal Pradesh, India | |||
| Vip Pharmaceuticals Private Limited | ₹40.07 Cr (FY 2025) | 6.0% | New Delhi, Delhi, India | |||
| Meditab Specialities Limited | ₹40.03 Cr (FY 2025) | -90.0% | Mumbai, Maharashtra, India | |||
| Stellar Formulations Industries Private Limitedthis company | ₹39.96 Cr (FY 2025) | -₹3.89 Cr | -9.7% | 11.0% | 80 | Vadodara, Gujarat, India |
| Zenith Enzymatic Drugs Private Limited | ₹39.93 Cr (FY 2024) | 6.0% | Pune, Maharashtra, India | |||
| Vanelloid Private Limited | ₹39.6 Cr (FY 2024) | 11.0% | Ludhiana, Punjab, India | |||
| MMC Health Care Limited | ₹39.6 Cr (FY 2024) | -17.0% | Chennai, Tamil Nadu, India | |||
| Strides Emerging Markets Limited | ₹39.32 Cr (FY 2020) | 735.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Stellar Formulations Industries Private Limited, buy the company report.
Auditor
Stellar Formulations Industries Private Limited is audited by K C Mehta & Co LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K C Mehta & Co LLP | FY 2023 | 106237W/W100829 |
Shareholding
The shareholding of Stellar Formulations Industries Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Stellar Formulations Industries Private Limited, buy the company report.
Charges & borrowings
Open charges
₹3 Cr
Satisfied charges
₹28.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Jun 2018 | 100202284 | Others | ₹3 Cr | Open | |
| 17 Mar 2016 | 100023479 | Others | ₹10 Cr | Satisfied | |
| 15 Feb 2011 | 10275681 | Indian Bank | ₹9.42 Cr | Satisfied | |
| 11 Feb 2011 | 10273421 | Indian Bank | ₹9.42 Cr | Satisfied |
To see the full charge records of Stellar Formulations Industries Private Limited, buy the company report.
Total charge records: 4 View all charges
Legal cases
Stellar Formulations Industries Private Limited has 1 court case on record: 1 filed against it. All case is disposed.
Total cases
1
Filed against the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Court case (CMA DC) | Filed against the company by D.J.Construction,A Partnership Firm Having Its Office | Disposed |
To see the full case history of Stellar Formulations Industries 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.
MSME payment delays
Stellar Formulations Industries Private Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 243 overdue payments to 33 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 33)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Om Containers Pvt.Ltd. | |||
| Scientific Sales Research Chemicals Private Limited | |||
| Ganesh Stationery Mart | |||
| an individual supplier | |||
| Chemfield Cellulose Pvt Ltd |
To see the full MSME payment records of Stellar Formulations Industries Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Stellar Formulations Industries Private Limited has a workforce of 80 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
Employee count
80
Active EPFO establishments
1
Employee growth
-4.76%
GST
Stellar Formulations Industries has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AANCS6006L1Z4 | Gujarat | Active | 01 Jul 2017 |
| 26AANCS6006L1Z0 | Dadra and Nagar Haveli and Daman and Diu | Active | 07 Aug 2024 |
To see the full GST registrations and return filing status of Stellar Formulations Industries Private Limited, buy the company report.
Recent activity
Stellar Formulations Industries Private Limited has 12 board changes on record since 2013: 4 appointments and 8 cessations. The latest: Vinit Jayesh Shanghvi ceased to be Director on 01 Apr 2021.
AGM
Stellar Formulations Industries Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others of Rs. 3.00 Cr registered on 15 Jun 2018 with Charge ID 100202284 was modified on 25 Apr 2025.
Filing
Stellar Formulations Industries Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Vinit Jayesh Shanghvi ceased to be Director.
Charges
A charge registered on 17 Mar 2016 via Charge ID 100023479 with Others was fully satisfied on 13 Apr 2020.
Charges
A charge with Others of Rs. 10.00 Cr registered on 17 Mar 2016 with Charge ID 100023479 was modified on 23 Aug 2018.
Charges
A charge with Others amounted to Rs. 3.00 Cr with Charge ID 100202284 was registered on 15 Jun 2018.
Ceased
Kamlesh Mohanlal Dudhara ceased to be Director.
Ceased
Bhushan Nanalal Shanghvi ceased to be Additional Director.
Appointed
Bhushan Nanalal Shanghvi was appointed as Director.
Ceased
Rajen Nanalal Shanghvi ceased to be Additional Director.
Charges
A charge with Others amounted to Rs. 10.00 Cr with Charge ID 100023479 was registered on 17 Mar 2016.
14 earlier events are in the company report.
Frequently asked questions
Stellar Formulations Industries is an active private limited company based in Vadodara, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 19 November 2009 (17+ years old) and is registered under CIN U24100GJ2009PTC058627.
Stellar Formulations Industries has 4 current directors:
- Vinit Jayesh Shanghvi - Director
- Bhushan Nanalal Shanghvi - Director
- Rajen Nanalal Shanghvi - Director
- Jayesh Nanalal Shanghvi - Director
The latest financial statements of Stellar Formulations Industries on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Stellar Formulations Industries is 24AANCS6006L1Z4, registered in Gujarat. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 26AANCS6006L1Z0 (Dadra and Nagar Haveli and Daman and Diu).
The CIN (Corporate Identification Number) of Stellar Formulations Industries is U24100GJ2009PTC058627. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Stellar Formulations Industries has 1 court case on record: 1 filed against it.
Stellar Formulations Industries was incorporated on 19 November 2009, making it 17+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Stellar Formulations Industries by revenue are Integrated Laboratories Private Limited, Vip Pharmaceuticals Private Limited, Meditab Specialities Limited, Zenith Enzymatic Drugs Private Limited, Vanelloid Private Limited and 2 more, all in the Pharma industry (Formulations), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Vinit Jayesh Shanghvi ceased to be Director on 01 Apr 2021. Kamlesh Mohanlal Dudhara ceased to be Director on 08 Jan 2018. Bhushan Nanalal Shanghvi ceased to be Additional Director on 29 Sep 2017. Stellar Formulations Industries has 12 board changes on record in total.
Yes, Stellar Formulations Industries is registered as a small enterprise under Udyam registration (number: UDYAM-GJ-24-0046469).
Stellar Formulations Industries has 12 MSME Form 1 returns on record between 2019 and 2024, listing 243 overdue payments to 33 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Stellar Formulations Industries can be reached through the website stellarformulations.com. Its registered office is in Vadodara, Gujarat, India.
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