About Subtle Pharmaceuticals Private Limited
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Subtle Pharmaceuticals Private Limited is a private limited company based in Bangalore North, Karnataka, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 26 September 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U24304KA2020PTC139065. Its GSTIN is 29ABECS5378P1ZC (Karnataka).
The company has an authorised share capital of ₹15 Lakh and a paid-up capital of ₹15 Lakh. It is led by directors Menaka Thangaraj and Ujjani Shivananjappa Sunil Kumar.
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 Bangalore North, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.91 Cr, a growth of 19% compared to the previous year. For the same year it recorded a net profit of ₹12.42 Lakh (net margin 2.5%) and EBITDA of ₹23.71 Lakh (EBITDA margin 4.8%). Revenue has grown at a compounded annual rate (CAGR) of 57% over three years.
As per MCA filings, the company has open charges of ₹91.37 Lakh on record.
For more details, the company can be reached via its website subtlepharma.com.
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- Website
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- Registered Address1st Floor A 419 And A 420, 9 And 10th Main Road 2nd Stage Peenya Industrial Area, Bangalore North, Karnataka, India – 560058
- IndustryPharma, Drug Formulation & Development
- 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
- One PDF report, delivered after checkout
Business Activity of Subtle Pharmaceuticals Private Limited
The main business activity of Subtle Pharmaceuticals is manufacturing. In detail, this covers manufacture of chemicals and chemical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | 20 | Manufacture of chemicals and chemical products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Subtle Pharmaceuticals Private Limited FY 2025 filings available
Subtle Pharmaceuticals Private Limited reported revenue of ₹4.91 Cr (up 19% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Subtle Pharmaceuticals Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 57% over three years, including 19% growth in the latest year. EBITDA rose 61% 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 of Subtle Pharmaceuticals Private Limited
| 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 | ₹23.71 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹12.42 Lakh | •••• | •••• | •••• | •••• |
| 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 of Subtle Pharmaceuticals Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.8% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 2.5% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Subtle Pharmaceuticals are in the company report.
Financial statements from FY 2021
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals Private Limited is compared with the companies closest to it by revenue in the Pharma industry (Formulations, Pharmaceuticals). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Reliv Healthcare Private Limited | ₹4.93 Cr (FY 2022) | •••• | •••• | -18.0% | •••• | Mumbai, Maharashtra, India |
| Cure Medicines (India) Private Limited | ₹4.93 Cr (FY 2025) | •••• | •••• | 10.0% | •••• | Pune, Maharashtra, India |
| Patco Pharmaceuticals Private Limited | ₹4.92 Cr (FY 2024) | •••• | •••• | 19.0% | •••• | Rabale, Maharashtra, India |
| Variety Pharmaceuticals Pvt Ltd | ₹4.92 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Palakkad, Kerala, India |
| La-Pharma(Gujarat) Private Limited | ₹4.91 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Ahmedabad, Gujarat, India |
| Subtle Pharmaceuticals Private Limited this company | ₹4.91 Cr (FY 2025) | •••• | •••• | 19.0% | •••• | Bangalore North, Karnataka, India |
| Suzen Medicare Private Limited | ₹4.91 Cr (FY 2025) | •••• | •••• | 82.0% | •••• | Rangareddy, Telangana, India |
| Dawai Bazaar Pharma Solutions Private Limited | ₹4.91 Cr (FY 2024) | •••• | •••• | 3.0% | •••• | Mulund, Maharashtra, India |
| Iscon Life Sciences Private Limited | ₹4.91 Cr (FY 2024) | •••• | •••• | •••• | Dascroi, Gujarat, India | |
| Olamic Pharma Private Limited | ₹4.9 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | Karnal, Haryana, India |
| Arvind Remedies Limited | ₹4.89 Cr (FY 2017) | •••• | •••• | -66.0% | •••• | Chennai, Tamil Nadu, India |
Peers are the five companies nearest above and the five nearest below Subtle Pharmaceuticals by revenue in the Pharma industry (Formulations, Pharmaceuticals), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals Private Limited is audited by MADHAVARAOBASKAR for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| MADHAVARAOBASKAR | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals has 2 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Menaka Thangaraj Also directs: Subtle Pharma Research Private Limited | Director | 26 Sep 2020 | 6 Years 0 Months | Current |
| Ujjani Shivananjappa Sunil Kumar | Director | 26 Sep 2020 | 6 Years 0 Months | Current |
Ownership and Shareholding of Subtle Pharmaceuticals Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Subtle Pharmaceuticals Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 13 Feb 2025 | State Bank of India | ₹85 Lakh | Open |
| 31 Mar 2023 | Hdfc Bank Limited | ₹3.19 Lakh | Open |
| 31 Mar 2023 | Hdfc Bank Limited | ₹3.19 Lakh | Open |
Total charge records: 3 View all charges
Employees and EPFO Compliance at Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals Private Limited has a workforce of 0 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals Private Limited has 2 board changes on record since 2020: 2 appointments. The latest: Menaka Thangaraj was appointed as Director on 26 Sep 2020.
Credit Ratings, Litigation & Regulatory Alerts for Subtle Pharmaceuticals Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Subtle Pharmaceuticals Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Subtle Pharmaceuticals Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29ABECS5378P1ZC | Karnataka | Active | 22 Oct 2020 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Subtle Pharmaceuticals Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Subtle Pharmaceuticals Private Limited
Subtle Pharmaceuticals is an active private limited company based in Bangalore North, Karnataka, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 26 September 2020 (6+ years old) and is registered under CIN U24304KA2020PTC139065.
Subtle Pharmaceuticals reported revenue of ₹4.91 Cr for FY 2025 (up 19% YoY).
Subtle Pharmaceuticals has 2 current directors:
- Menaka Thangaraj - Director
- Ujjani Shivananjappa Sunil Kumar - Director
Subtle Pharmaceuticals reported a net profit of ₹12.42 Lakh (net margin 2.5%) and EBITDA of ₹23.71 Lakh (EBITDA margin 4.8%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Subtle Pharmaceuticals is 57% over three years. In the latest year (FY 2025) revenue rose 19%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Subtle Pharmaceuticals is 29ABECS5378P1ZC, registered in Karnataka.
The CIN (Corporate Identification Number) of Subtle Pharmaceuticals is U24304KA2020PTC139065. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Subtle Pharmaceuticals was incorporated on 26 September 2020, making it 6+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Subtle Pharmaceuticals by revenue are Reliv Healthcare Private Limited, Cure Medicines (India) Private Limited, Patco Pharmaceuticals Private Limited, Variety Pharmaceuticals Pvt Ltd, La-Pharma(Gujarat) Private Limited and 5 more, all in the Pharma industry (Formulations, Pharmaceuticals).
Menaka Thangaraj was appointed as Director on 26 Sep 2020. Ujjani Shivananjappa Sunil Kumar was appointed as Director on 26 Sep 2020.
Subtle Pharmaceuticals can be reached through the website subtlepharma.com. Its registered office is in Bangalore North, Karnataka, India.