Thermotech Systems Limited

Thermotech Systems Limited - machinery and equipment in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN U26933GJ1995PLC026596 Incorporated 04 July 1995 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Public Limited Company machinery and equipment MSME · Small
Data last updated
Revenue · FY 2025
₹65.25 Cr
▲ 48% YoY
Net profit · FY 2025
₹1.14 Cr
Net margin 1.7%
EBITDA · FY 2025
₹3.08 Cr
EBITDA margin 4.7%
Authorised capital
₹2 Cr
Registered with MCA
Paid-up capital
₹1.28 Cr
Issued & subscribed
Open charges
₹42.15 Cr
Satisfied ₹47.61 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
70
Provident fund records

About Thermotech Systems Limited

Data last updated:

Thermotech Systems Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 04 July 1995 and has been in existence for over 31 years.

The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U26933GJ1995PLC026596. Its GSTIN is 24AAACT4509Q1Z2 (Gujarat).

The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹1.28 Cr. It is led by directors including Rajnikant Jethalal Shah (Managing Director) and Mahendrabhai Chandulal Shah (Managing Director).

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 Plot No 2608 Phase 4 GIDC Vatava, Ahmedabad, Gujarat, India – 382445.

As per the financials filed for FY 2025, the company reported a revenue of ₹65.25 Cr, a growth of 48% compared to the previous year. For the same year it recorded a net profit of ₹1.14 Cr (net margin 1.7%) and EBITDA of ₹3.08 Cr (EBITDA margin 4.7%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 16% over five years.

The company has about 70 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Thermotech Systems. As per MCA filings, the company has open charges of ₹42.15 Cr and satisfied charges of ₹47.61 Cr on record. Court records list 5 cases involving the company, including 3 filed by the company and 2 filed against it; 3 cases are pending.

Thermotech Systems Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-01-0012451). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website thermotechsystems.com.

Company Details of Thermotech Systems Limited
CIN U26933GJ1995PLC026596
Registration Number 026596
Incorporation Date 04 July 1995
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-GJ-01-0012451

CIN History of Thermotech Systems Limited

Thermotech Systems has one previous CIN (Corporate Identification Number): U26933GJ1995PTC026596. The current CIN is U26933GJ1995PLC026596, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U26933GJ1995PLC026596Current
U26933GJ1995PTC026596Previous
Key People
Rajnikant Jethalal Shah Managing Director Mahendrabhai Chandulal Shah Managing Director Jigneshkumar Mahendrabhai Shah Whole-Time Director

Recognitions & Rankings of Thermotech Systems

MSME (Udyam registered) Ministry of MSME
Category
Small (2024-25)
Udyam number
UDYAM-GJ-01-0012451
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    thermotechsystems.com
  • Social Media
  • Apps
  • Registered Address
    Plot No 2608 Phase 4 GIDC Vatava, Ahmedabad, Gujarat, India – 382445
  • Industry
    Machinery and Equipment, Industrial Machinery Manufacturing
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Financials, compliance, directors, charges, ownership and filings for Thermotech Systems Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Associated Brands with Thermotech Systems Limited

Thermotech Systems operates one associated brand: Thermotech Systems. Each brand links to its own profile.

BrandDescriptionWebsite
Thermotech Systems
Industrial heating solutions provider for sectors like oil and gas, manufacturing, and food processing.thermotechsystems.com

Business Activity of Thermotech Systems Limited

The main business activity of Thermotech Systems is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipmentLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
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Financials of Thermotech Systems Limited FY 2024 filings available

Thermotech Systems Limited reported revenue of ₹65.25 Cr (up 48% YoY) for FY 2025.

Revenue · FY 2025
₹65.25 Cr ▲ 48%
Net profit · FY 2025
₹1.14 Cr margin 1.7%
EBITDA · FY 2025
₹3.08 Cr margin 4.7%

Compounded Annual Growth Rate (CAGR) of Thermotech Systems Limited

Revenue CAGR growth
1 year
▲ 48%
3 years · compounded
▲ 2%
5 years · compounded
▲ 16%
EBITDA CAGR growth
1 year
▲ 43%
3 years · compounded
▲ 42%
5 years · compounded
▲ 28%

Revenue has grown at a compounded annual rate (CAGR) of 16% over five years, including 48% growth in the latest year. EBITDA rose 43% 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 Thermotech Systems Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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₹3.08 Cr••••••••••••••••
Profit Before Tax••••••••••••••••••••
Tax Expense••••••••••••••••••••
Net Profit (PAT)₹1.14 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 Thermotech Systems Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin4.7%••••••••••••••••
Net Profit Margin1.7%••••••••••••••••
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••••••••••••••••••••

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 Thermotech Systems are in the company report.

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Financial statements from 2015

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Board of Directors of Thermotech Systems Limited

Thermotech Systems has 6 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Jigneshkumar Mahendrabhai ShahWhole-Time Director01 Apr 200620 Years 6 MonthsCurrent
Rajnikant Jethalal ShahManaging Director01 Jan 201115 Years 9 MonthsCurrent
Shrirang Rakeshkumar ShahWhole-Time Director30 Nov 20214 Years 10 MonthsCurrent
Rakeshkumar Kanubhai ShahWhole-Time Director01 Apr 200521 Years 6 MonthsCurrent
Kinjal Rajnibhai Shah
Also directs: Iec-Tsl Ingenious Energy LLP
Whole-Time Director01 Apr 200818 Years 6 MonthsCurrent
Mahendrabhai Chandulal ShahManaging Director01 Apr 201016 Years 6 MonthsCurrent
View all directors

Peer Comparison of Thermotech Systems Limited

Thermotech Systems Limited is compared with the companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers, Tools and Components). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Kelin India Private Limited₹65.45 Cr (FY 2025)••••••••10.0%••••Chennai, Tamil Nadu, India
Muvro Technologies Private Limited₹65.4 Cr (FY 2024)••••••••-15.0%••••Ghaziabad, Uttar Pradesh, India
A.G.Pipes Private Limited₹65.36 Cr (FY 2025)••••••••1.0%••••New Delhi, Delhi, India
Shree Prayag Air Controls Private Limited₹65.34 Cr (FY 2025)••••••••-18.0%••••New Delhi, Delhi, India
Surendra Forgings Pvt Ltd₹65.27 Cr (FY 2025)••••••••-12.0%••••Thane, Maharashtra, India
Thermotech Systems Limited this company₹65.25 Cr (FY 2025)••••••••48.0%••••Ahmedabad, Gujarat, India
Raaja Magnetics Limited₹65.24 Cr (FY 2025)••••••••4.0%••••Coimbatore, Tamil Nadu, India
Vulcan Cold Forge Private Limited₹65.24 Cr (FY 2024)••••••••7.0%••••Gurgaon, Haryana, India
Nutech Jetting Equipments India Private Limited₹65.22 Cr (FY 2025)••••••••4.0%••••New Delhi, Delhi, India
Velmold Plastics Private Limited₹65.19 Cr (FY 2024)••••••••12.0%••••Haryana, India
Eastern Micropor Private Limited₹65.17 Cr (FY 2025)••••••••9.0%••••Howrah, West Bengal, India

Peers are the five companies nearest above and the five nearest below Thermotech Systems by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers, Tools and Components), 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 Thermotech Systems Limited

Thermotech Systems Limited is audited by SURANA MALOO & CO. for the financial year 2022.

NameStatusAppointment DateCessation Date
SURANA MALOO & CO.LockedLockedLocked
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Ownership and Shareholding of Thermotech Systems Limited

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Charges & Borrowings of Thermotech Systems Limited

Open charges
₹42.15 Cr
Satisfied charges
₹47.61 Cr
Breakdown by lending institutions
Axis Bank Limited₹41.70 Cr
Sidbi₹0.46 Cr
Latest charge details
DateLenderAmountStatus
27 Jun 2025Sidbi₹45.52 LakhOpen
15 Jul 2022Axis Bank Limited₹61.5 LakhOpen
15 Nov 2021Axis Bank Limited₹61.5 LakhOpen
18 Dec 2020Axis Bank Limited₹23.16 CrOpen
31 Jan 2020Axis Bank Limited₹17.31 CrOpen

Total charge records: 14 View all charges

MSME Payment Delays by Thermotech Systems Limited

Thermotech Systems Limited has 15 MSME Form 1 returns on record between 2019 and 2024, listing 2,451 overdue payments to 144 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 144)

SupplierAmount dueDue sinceReported on
an individual supplier••••••••••••
an individual supplier••••••••••••
an individual supplier••••••••••••
Shree Gayatri Clearing Agency••••••••••••
an individual supplier••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 15 MSME Form 1 returns is in the company report.

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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Employees and EPFO Compliance at Thermotech Systems Limited

Thermotech Systems Limited has a workforce of 70 employees as of Apr 04, 2024.

Employee count
70
Active EPFO establishments
1
Employee growth
-2.78%
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Employee and EPFO history

Monthly headcount, contribution history and filing status are in the company report.

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Recent Activity on Thermotech Systems Limited

Thermotech Systems Limited has 11 board changes on record since 2005: 6 appointments and 5 cessations. The latest: Shrirang Rakeshkumar Shah ceased to be Director on 29 Sep 2023.

Charges
A charge with Sidbi amounted to Rs. 0.46 Cr with Charge ID 101118343 was registered on 27 Jun 2025.
Charges
A charge with Axis Bank Limited of Rs. 23.16 Cr registered on 18 Dec 2020 with Charge ID 100397229 was modified on 20 Feb 2025.
AGM
Thermotech Systems Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Thermotech Systems Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Ahmedabad.
Ceased
Shrirang Rakeshkumar Shah ceased to be Director.
Ceased
Kanubhai Jethalal Shah ceased to be Managing Director.
Charges
A charge with Axis Bank Limited amounted to Rs. 0.62 Cr with Charge ID 100599095 was registered on 15 Jul 2022.
Appointed
Shrirang Rakeshkumar Shah was appointed as Whole-Time Director.
Charges
A charge with Axis Bank Limited amounted to Rs. 0.62 Cr with Charge ID 100501623 was registered on 15 Nov 2021.
Charges
A charge with Axis Bank Limited amounted to Rs. 23.16 Cr with Charge ID 100397229 was registered on 18 Dec 2020.
Charges
A charge registered on 14 Mar 2018 via Charge ID 100174761 with Hdfc Bank Limited was fully satisfied on 17 Oct 2020.
Charges
A charge registered on 29 Nov 2017 via Charge ID 100143144 with Hdfc Bank Limited was fully satisfied on 17 Oct 2020.

32 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Thermotech Systems Limited

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Subsidiaries & Group Companies of Thermotech Systems Limited

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Corporate group structure

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GST Compliance of Thermotech Systems Limited

Thermotech Systems has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
24AAACT4509Q1Z2GujaratActive01 Jul 2017
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State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.

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MCA Filings & Documents of Thermotech Systems Limited

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MCA filings and documents

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Frequently Asked Questions about Thermotech Systems Limited

Thermotech Systems is an active public limited company based in Ahmedabad, Gujarat, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 04 July 1995 (31+ years old) and is registered under CIN U26933GJ1995PLC026596.

Thermotech Systems reported revenue of ₹65.25 Cr for FY 2025 (up 48% YoY).

Thermotech Systems has 6 current directors:

Thermotech Systems reported a net profit of ₹1.14 Cr (net margin 1.7%) and EBITDA of ₹3.08 Cr (EBITDA margin 4.7%) for FY 2025, as per its filed financial statements.

The compounded annual growth rate (CAGR) of the revenue of Thermotech Systems is 2% over three years and 16% over five years. In the latest year (FY 2025) revenue rose 48%. CAGR is the steady yearly rate that links the first and the last year.

The GSTIN of Thermotech Systems is 24AAACT4509Q1Z2, registered in Gujarat.

The CIN (Corporate Identification Number) of Thermotech Systems is U26933GJ1995PLC026596. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Thermotech Systems has 5 court cases on record: 3 filed by the company and 2 filed against it. 3 are pending. Most are in the high courts.

Thermotech Systems was incorporated on 04 July 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.

The peers of Thermotech Systems by revenue are Kelin India Private Limited, Muvro Technologies Private Limited, A.G.Pipes Private Limited, Shree Prayag Air Controls Private Limited, Surendra Forgings Pvt Ltd and 5 more, all in the Machinery and Equipment industry (Industrial Products Manufacturers, Tools and Components).

Shrirang Rakeshkumar Shah ceased to be Director on 29 Sep 2023. Kanubhai Jethalal Shah ceased to be Managing Director on 17 Aug 2023. Shrirang Rakeshkumar Shah was appointed as Whole-Time Director on 30 Nov 2021. Thermotech Systems has 11 board changes on record in total.

Yes, Thermotech Systems is registered as a small enterprise under Udyam registration (number: UDYAM-GJ-01-0012451).

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