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.
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 9 cases involving the company, including 7 filed by the company and 1 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 10 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers) are compared by revenue, 5 larger and 5 smaller; the largest is Flowserve Sanmar Private Limited with revenue of ₹332.56 Cr.
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.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address28 Nagarjuna Hillspanjagutta Hyderabad, Telangana, India – 500082
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
- 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 Thermopads Private Limited
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 | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | 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 Thermopads Private Limited FY 2025 filings available
Thermopads Private Limited reported revenue of ₹319.55 Cr (up 17% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Thermopads Private Limited
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 of Thermopads Private Limited
| 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 of Thermopads Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
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 Thermopads are in the company report.
Financial statements from 2015
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 Thermopads Private Limited
Thermopads Private Limited is compared with the companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Flowserve Sanmar Private Limited | ₹332.56 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Chennai, Tamil Nadu, India |
| 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 |
| D.S. Ductofab Systems Private Limited | ₹320 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Delhi, India |
| Thermopads Private Limited this company | ₹319.55 Cr (FY 2024) | •••• | •••• | 17.0% | •••• | Hyderabad, Telangana, India |
| Iigm Private Limited. | ₹312.61 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | New Delhi, Delhi, India |
| Paresh Constructions and Foundations Private Limited | ₹312.35 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Mumbai, Maharashtra, 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 |
| GMP Technical Solutions Private Limited | ₹310.59 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Thermopads by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), 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 Thermopads Private Limited
Thermopads Private Limited is audited by B.Narsing Rao & CO for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| B.Narsing Rao & CO | 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 Thermopads Private Limited
Thermopads has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| 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 |
Ownership and Shareholding of Thermopads 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 Thermopads Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 20 Oct 2020 | Citi Bank N.A. | ₹17 Cr | Open |
| 10 Jul 2020 | Hdfc Bank Limited | ₹7 Cr | Open |
| 08 Dec 2016 | Citi Bank N.A. | ₹15 Cr | Satisfied |
| 06 Dec 2016 | Citi Bank N.A. | ₹10 Cr | Satisfied |
| 23 Dec 2014 | State Bank of India | ₹87.16 Cr | Satisfied |
Total charge records: 14 View all charges
Deals & Funding of Thermopads Private Limited
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.
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 |
Full deal history
All 7 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Thermopads Private Limited
Thermopads Private Limited has 9 court cases on record: 7 filed by Thermopads, 1 filed against it, 1 where it is another party. 1 case is pending and 8 are disposed. Status as checked between 30 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 0 | 1 |
| District courts | 3 | 1 | 0 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court for State of Telangana | Writ petition | Filed by the company against Union of India | Pending |
| High Court of Orissa | Writ petition | Company is another party | Disposed |
| High Court for State of Telangana | Writ petition | Filed by the company against Union of India | Disposed |
| District court, Hyderabad CCC, Telangana | Criminal complaint | Filed by the company against an individual | Disposed |
| High Court for State of Telangana | Appeal | Filed by the company against Thermopads (P) Ltd | Disposed |
Full case history
All 9 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Associated Brands with Thermopads Private Limited
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 |
Employees and EPFO Compliance at Thermopads Private Limited
Thermopads Private Limited has a workforce of 285 employees as of Aug 21, 2025.
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.
Group Structure of Thermopads Private Limited
Thermopads has 2 associated companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
CIN History of Thermopads Private Limited
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 |
Recent Activity on Thermopads Private Limited
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.
29 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Thermopads 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 Thermopads 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 Thermopads 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 Thermopads Private Limited
Thermopads has 5 GST registrations: 2 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AAACT8887D1ZZ | Telangana | Active | 01 Jul 2017 |
| 27AAACT8887D1ZY | Maharashtra | Active | 21 Nov 2022 |
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 Thermopads 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 Thermopads Private Limited
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 reported revenue of ₹319.55 Cr for FY 2024 (up 17% YoY).
Thermopads has 2 current directors:
- Nandkishore Ghurka - Managing Director
- Ghurka Chetan - Director
Thermopads reported a net profit of ₹89.89 Cr (net margin 28.1%) and EBITDA of ₹83.86 Cr (EBITDA margin 26.2%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Thermopads is 15% over three years and 15% over five years. In the latest year (FY 2024) revenue rose 17%. CAGR is the steady yearly rate that links the first and the last year.
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 9 court cases on record: 7 filed by the company and 1 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 Flowserve Sanmar Private Limited, Marathon Electric Motors (India) Limited, Megatherm Induction Limited, Sew-Eurodrive India Private Limited, D.S. Ductofab Systems Private Limited and 5 more, all in the Machinery and Equipment industry (Industrial Products Manufacturers).