MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2022-23)
- Udyam number
- UDYAM-TS-02-0002573
Thermopads Private Limited - machinery and equipment in Hyderabad, Telangana, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹319.55 Cr
▲ 17% YoY
Net profit · FY 2024
₹89.89 Cr
Net margin 28.1%
EBITDA · FY 2024
₹83.86 Cr
EBITDA margin 26.2%
Authorised capital
₹2 Cr
Registered with MCA
Paid-up capital
₹80.25 Lakh
Issued & subscribed
Open charges
₹24 Cr
Satisfied ₹215.84 Cr
Company age
34 yrs
Est. 1992
Employees · EPFO
285
Provident fund records
About Thermopads Private Limited
Data last updated:
Thermopads Private Limited is a private limited company based in Hyderabad, Telangana, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 29 January 1992 and has been in existence for over 34 years.
Its director Nandkishore Ghurka is #1,202 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN U24110TG1992PTC013781. Its GSTIN is 36AAACT8887D1ZZ (Telangana). The company holds 5 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹80.25 Lakh. It is led by directors Nandkishore Ghurka (Managing Director) and Ghurka Chetan.
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 28 Nagarjuna Hillspanjagutta Hyderabad, Telangana, India – 500082.
As per the financials filed for FY 2024, the company reported a revenue of ₹319.55 Cr, a growth of 17% compared to the previous year. For the same year it recorded a net profit of ₹89.89 Cr (net margin 28.1%) and EBITDA of ₹83.86 Cr (EBITDA margin 26.2%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 15% over five years.
The company has about 285 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Thermopads. As per MCA filings, the company has open charges of ₹24 Cr and satisfied charges of ₹215.84 Cr on record. Court records list 15 cases involving the company, including 10 filed by the company and 6 filed against it; 1 case is pending. The company has 7 deals on record (6 secondary share transfers, 1 funding round), with disclosed funding of ₹20 Lakh; the latest was in March 2024. Its 5 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 3 larger and 2 smaller; the largest is Marathon Electric Motors (India) Limited with revenue of ₹323.96 Cr.
Thermopads Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-TS-02-0002573). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website thermopads.com.
Company details
CIN U24110TG1992PTC013781
Registration Number 013781
Incorporation Date 29 January 1992
ROC Hyderabad
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 Medium
Udyam Registration UDYAM-TS-02-0002573
CIN history
Thermopads has one previous CIN (Corporate Identification Number): U24110AP1992PTC013781. The current CIN is U24110TG1992PTC013781, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24110TG1992PTC013781 | Current |
| U24110AP1992PTC013781 | Previous |
Recognitions & Rankings of Thermopads
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,202 Nandkishore Ghurka ₹2,000 Cr
Contact details
Thermopads Private Limited's registered office is in Hyderabad, Telangana. Its website is thermopads.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address28 Nagarjuna Hillspanjagutta Hyderabad, Telangana, India – 500082
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
To see the full contact details of Thermopads Private Limited, buy the company report.
Comprehensive company report
Thermopads 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
Thermopads operates one associated brand: Thermopads. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturing and exporting electrical surface heating systems globally. | thermopads.com |
Business activity
The main business activity of Thermopads is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Thermopads Private Limited, buy the company report.
Financials of Thermopads Private Limited
FY 2025 filings availableThermopads Private Limited reported revenue of ₹319.55 Cr (up 17% YoY) for FY 2024.
Revenue · FY 2024
₹319.55 Cr ▲ 17%
Net profit · FY 2024
₹89.89 Cr margin 28.1%
EBITDA · FY 2024
₹83.86 Cr margin 26.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 17%
3 years · compounded
▲ 15%
5 years · compounded
▲ 15%
EBITDA CAGR growth
1 year
▲ 34%
3 years · compounded
▲ 8%
5 years · compounded
▲ 11%
Revenue has grown at a compounded annual rate (CAGR) of 15% over five years, including 17% growth in the latest year. 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹319.55 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹83.86 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹89.89 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 26.2% | ||||
| Net Profit Margin | 28.1% | ||||
| 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 Thermopads Private Limited, buy the company report.
Board of directors of Thermopads Private Limited
Thermopads has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ghurka Chetan | Director | 01 Jul 2014 | 12 Years 3 Months | Current |
| Nandkishore Ghurka Also directs: Thermo Capital Private Limited | Managing Director | 29 Jan 1992 | 34 Years 8 Months | Current |
Peer comparison
Thermopads Private Limited is compared with the 5 companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Marathon Electric Motors (India) Limited | ₹323.96 Cr (FY 2025) | -1.0% | Kolkata, West Bengal, India | |||
| Megatherm Induction Limited | ₹323.71 Cr (FY 2025) | 5.0% | Kolkata, West Bengal, India | |||
| Sew-Eurodrive India Private Limited | ₹322.96 Cr (FY 2021) | -17.0% | Vadodara, Gujarat, India | |||
| Thermopads Private Limitedthis company | ₹319.55 Cr (FY 2024) | ₹89.89 Cr | 28.1% | 17.0% | 285 | Hyderabad, Telangana, India |
| Praj Hipurity Systems Limited | ₹311.06 Cr (FY 2025) | 2.0% | Mumbai, Maharashtra, India | |||
| Simplex Engineering & Foundry Works Private Limited | ₹310.62 Cr (FY 2025) | 19.0% | New Delhi, Delhi, India |
To see the full peer comparison of Thermopads Private Limited, buy the company report.
Auditor
Thermopads Private Limited is audited by B.Narsing Rao & CO for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B.Narsing Rao & CO | FY 2024 | 002409S |
Shareholding
The shareholding of Thermopads 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 Thermopads Private Limited, buy the company report.
Charges & borrowings
Open charges
₹24 Cr
Satisfied charges
₹215.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Oct 2020 | 100392184 | Citi Bank N.A. | ₹17 Cr | Open | |
| 10 Jul 2020 | 100354666 | Hdfc Bank Limited | ₹7 Cr | Open | |
| 08 Dec 2016 | 100079824 | Citi Bank N.A. | ₹15 Cr | Satisfied | |
| 06 Dec 2016 | 100067091 | Citi Bank N.A. | ₹10 Cr | Satisfied | |
| 23 Dec 2014 | 10568270 | State Bank of India | ₹87.16 Cr | Satisfied |
To see the full charge records of Thermopads Private Limited, buy the company report.
Total charge records: 14 View all charges
Deals & funding
Thermopads Private Limited has 7 deals on record (6 secondary share transfers, 1 funding round), with disclosed funding of ₹20 Lakh; the latest was in March 2024.
Total deals
7
Secondary share transfers
6
Funding round
1
Disclosed funding
₹20 Lakh
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Seller: 4 individuals |
| Aug 2023 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: N K Ghurka HUF |
| Jun 2016 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
| Mar 2013 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jul 2008 | Secondary share transfer | Undisclosed | Seller: B K Ghurka HUF, 3 individuals |
To see the full deal history of Thermopads 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
Thermopads Private Limited has 15 court cases on record: 10 filed by Thermopads, 6 filed against it. 1 case is pending and 14 are disposed.
Total cases
15
Filed by the company
10
Filed against the company
6
Pending
1
Disposed
14
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 11 | 5 | 1 |
| District courts | 3 | 1 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, ANDHRA PRADESH | Writ petition | Filed by the company against M/S.Tuaman Engineering Ltd. and 2 others | Disposed |
| High Court, TELANGANA | Appeal | Filed against the company by M/S. Thermopads (P) Ltd., A Company Incorporated Under | Disposed |
| High Court, TELANGANA | Appeal | Filed by the company against M/S. Thermopads (P) Ltd., A Company Incorporated Under and 3 others | Disposed |
| High Court, TELANGANA | Writ petition | Filed by the company against The Union of India, and 1 other | Pending |
| NCLT, Hyderabad | Court case (C.A.(CAA)) | Filed by the company | Disposed |
To see the full case history of Thermopads 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
Thermopads Private Limited was last rated by Crisil on 15 Jul 2019.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 15 Jul 2019 |
To see the full credit ratings and regulatory alerts of Thermopads Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Thermopads Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Thermopads has 2 associated companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
2
Associated companies
Employees & EPFO
Thermopads Private Limited has a workforce of 285 employees on its EPFO records as of Aug 21, 2025, across 1 active EPFO establishment.
Employee count
285
Active EPFO establishments
1
Employee growth
0.35%
GST
Thermopads has 5 GST registrations: 2 active and 3 cancelled or inactive.
Total GSTINs
5
Active
2
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AAACT8887D1ZZ | Telangana | Active | 01 Jul 2017 |
| 27AAACT8887D1ZY | Maharashtra | Active | 21 Nov 2022 |
To see the full GST registrations and return filing status of Thermopads Private Limited, buy the company report.
Recent activity
Thermopads Private Limited has 6 board changes on record since 1992: 2 appointments and 4 cessations. The latest: Uma Ghurka ceased to be Whole-Time Director on 24 Feb 2023.
AGM
Thermopads Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Thermopads Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Hyderabad.
Charges
A charge with Citi Bank N.A. of Rs. 17.00 Cr registered on 20 Oct 2020 with Charge ID 100392184 was modified on 03 Mar 2023.
Ceased
Uma Ghurka ceased to be Whole-Time Director.
Charges
A charge with Hdfc Bank Limited of Rs. 7.00 Cr registered on 10 Jul 2020 with Charge ID 100354666 was modified on 06 Dec 2022.
Charges
A charge registered on 08 Dec 2016 via Charge ID 100079824 with Citi Bank N.A. was fully satisfied on 17 Dec 2020.
Charges
A charge with Citi Bank N.A. amounted to Rs. 17.00 Cr with Charge ID 100392184 was registered on 20 Oct 2020.
Charges
A charge registered on 18 Sep 1999 via Charge ID 80024039 with State Bank Of India was fully satisfied on 15 Sep 2020.
Charges
A charge registered on 23 Dec 2014 via Charge ID 10568270 with State Bank Of India was fully satisfied on 14 Sep 2020.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 7.00 Cr with Charge ID 100354666 was registered on 10 Jul 2020.
Charges
A charge with State Bank Of India of Rs. 6.85 Cr registered on 18 Sep 1999 with Charge ID 80024039 was modified on 20 Apr 2018.
Charges
A charge registered on 06 Dec 2016 via Charge ID 100067091 with Citi Bank N.A. was fully satisfied on 12 Apr 2018.
29 earlier events are in the company report.
Frequently asked questions
Thermopads is an active private limited company based in Hyderabad, Telangana, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 29 January 1992 (34+ years old) and is registered under CIN U24110TG1992PTC013781.
Thermopads has 2 current directors:
- Nandkishore Ghurka - Managing Director
- Ghurka Chetan - Director
The latest financial statements of Thermopads 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 Thermopads is 36AAACT8887D1ZZ, registered in Telangana. The company has 5 GST registrations in all, of which 2 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACT8887D1ZY (Maharashtra).
The CIN (Corporate Identification Number) of Thermopads is U24110TG1992PTC013781. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Thermopads has 15 court cases on record: 10 filed by the company and 6 filed against it. 1 is pending. Most are in the high courts.
Thermopads was incorporated on 29 January 1992, making it 34+ years old. It is registered with the Registrar of Companies, Hyderabad.
Thermopads has 7 deals on record (6 secondary share transfers, 1 funding round), with disclosed funding of ₹20 Lakh; the latest was in March 2024.
The peers of Thermopads by revenue are Marathon Electric Motors (India) Limited, Megatherm Induction Limited, Sew-Eurodrive India Private Limited, Praj Hipurity Systems Limited, Simplex Engineering & Foundry Works Private Limited, all in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Uma Ghurka ceased to be Whole-Time Director on 24 Feb 2023. Prabhat Toshniwal ceased to be Director on 01 Aug 2016. Ghurka Chetan was appointed as Director on 01 Jul 2014. Thermopads has 6 board changes on record in total.
Yes, Thermopads is registered as a medium enterprise under Udyam registration (number: UDYAM-TS-02-0002573).