MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-18-0055761
Vardhman Chemtech Limited - pharma in Chandigarh, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹208.69 Cr
▼ 13% YoY
Net profit · FY 2025
₹3.61 Cr
Net margin 1.7%
EBITDA · FY 2025
₹21.78 Cr
EBITDA margin 10.4%
Authorised capital
₹100 Cr
Registered with MCA
Paid-up capital
₹10 Lakh
Issued & subscribed
Open charges
₹25 Cr
Satisfied ₹869.07 Cr
Company age
30 yrs
Est. 1996
Employees · EPFO
181
Provident fund records
About Vardhman Chemtech Limited
Data last updated:
Vardhman Chemtech Limited is a public limited company based in Chandigarh, India. It operates in the API manufacturers segment of the pharmaceuticals sector. It was incorporated on 21 August 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U24117CH1996PLC018656. Its GSTIN is 03AABCV3290P1Z1 (Punjab). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹10 Lakh. It was formerly known as Vardhman Chemtech Private Limited. It is led by directors including Sharvan Bhatt (Whole-Time Director) and Devang Manharlal Ajmera.
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 SCO 85 Sector 35 C, Chandigarh, India – 160036.
As per the financials filed for FY 2025, the company reported a revenue of ₹208.69 Cr, a decline of 13% compared to the previous year. For the same year it recorded a net profit of ₹3.61 Cr (net margin 1.7%) and EBITDA of ₹21.78 Cr (EBITDA margin 10.4%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years and 93% over five years.
The company has about 181 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: DPB Group and Vardhman Chemtech. As per MCA filings, the company has open charges of ₹25 Cr and satisfied charges of ₹869.07 Cr on record. Court records list 59 cases involving the company, including 5 filed by the company and 54 filed against it; 3 cases are pending. The company has 15 deals on record (8 funding rounds, 5 secondary share transfers, 1 rights issue), with disclosed funding of ₹299.18 Cr; the latest was in April 2021. Its 10 peer companies in the Pharma industry (API Manufacturers) are compared by revenue, 5 larger and 5 smaller; the largest is A. R. Life Sciences Private Limited with revenue of ₹229.48 Cr.
Vardhman Chemtech Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0055761). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vardhmanchemtech.com.
Company Details of Vardhman Chemtech Limited
CIN U24117CH1996PLC018656
Registration Number 018656
Incorporation Date 21 August 1996
ROC Chandigarh
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 Medium
Udyam Registration UDYAM-MH-18-0055761
CIN History of Vardhman Chemtech Limited
Vardhman Chemtech has one previous CIN (Corporate Identification Number): L24117CH1996PLC018656. The current CIN is U24117CH1996PLC018656, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24117CH1996PLC018656 | Current |
| L24117CH1996PLC018656 | Previous |
Key People
Sharvan Bhatt Whole-Time Director Devang Manharlal Ajmera Director Piyush Manharlal Ajmera Director Recognitions & Rankings of Vardhman Chemtech
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressSCO 85 Sector 35 C, Chandigarh, India – 160036
- IndustryPharma, API Manufacturers
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Associated Brands with Vardhman Chemtech Limited
Vardhman Chemtech operates two associated brands: DPB Group and Vardhman Chemtech. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| DPB Group is engaged in manufacturing pharmaceutical APIs in India. | dpbpharma.com | |
| Manufacturer of bulk drugs, intermediates and fine chemicals | vardhmanchemtech.com |
Business Activity of Vardhman Chemtech Limited
The main business activity of Vardhman Chemtech is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
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Financials of Vardhman Chemtech Limited FY 2024 filings available
Vardhman Chemtech Limited reported revenue of ₹208.69 Cr (down 13% YoY) for FY 2025.
Revenue · FY 2025
₹208.69 Cr ▼ 13%
Net profit · FY 2025
₹3.61 Cr margin 1.7%
EBITDA · FY 2025
₹21.78 Cr margin 10.4%
Compounded Annual Growth Rate (CAGR) of Vardhman Chemtech Limited
Revenue CAGR growth
1 year
▼ 13%
3 years · compounded
▼ 4%
5 years · compounded
▲ 93%
EBITDA CAGR growth
1 year
▲ 7%
3 years · compounded
▼ 15%
5 years · compounded
▲ 113%
Revenue fell 13% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 93%. EBITDA rose 7% 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 Vardhman Chemtech 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 | ₹21.78 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹3.61 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 Vardhman Chemtech Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 10.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 1.7% | •••• | •••• | •••• | •••• |
| 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 Vardhman Chemtech are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
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Board of Directors of Vardhman Chemtech Limited
Vardhman Chemtech has 4 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Devang Manharlal Ajmera | Director | 02 Feb 2021 | 5 Years 8 Months | Current |
| Piyush Manharlal Ajmera Also directs: DPB Pharmaceuticals Limited, DPB Antibiotics Private Limited | Director | 02 Feb 2021 | 5 Years 8 Months | Current |
| Bhavin Manharlal Ajmera Also directs: DPB Pharmaceuticals Limited, DPB Antibiotics Private Limited | Director | 02 Feb 2021 | 5 Years 8 Months | Current |
| Sharvan Bhatt | Whole-Time Director | 21 Jul 2021 | 5 Years 3 Months | Current |
Peer Comparison of Vardhman Chemtech Limited
Vardhman Chemtech Limited is compared with the companies closest to it by revenue in the Pharma industry (API 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 |
|---|---|---|---|---|---|---|
| A. R. Life Sciences Private Limited | ₹229.48 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Hyderabad, Telangana, India |
| Loxim Industries Limited | ₹227.28 Cr (FY 2025) | •••• | •••• | 26.0% | •••• | Ahmedabad, Gujarat, India |
| Raks Pharma Private Limited | ₹224.6 Cr (FY 2025) | •••• | •••• | -25.0% | •••• | Ahmedabad, Gujarat, India |
| Akums Lifesciences Limited | ₹222.57 Cr (FY 2023) | •••• | •••• | 60.0% | •••• | Chandigarh, India |
| Chemcon Speciality Chemicals Limited Listed | ₹221.69 Cr (FY 2025) | •••• | •••• | -21.0% | •••• | Vadodara, Gujarat, India |
| Vardhman Chemtech Limited this company | ₹208.69 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Chandigarh, India |
| Aktinos Pharma Private Limited | ₹207.85 Cr (FY 2024) | •••• | •••• | 18.0% | •••• | Hyderabad, Telangana, India |
| Nifty Labs Private Limited | ₹206.98 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Aran Road, Ameerpet, Hyd-016, Telangana, India |
| Inogent Laboratories Private Limited | ₹206.9 Cr (FY 2017) | •••• | •••• | 18.0% | •••• | Hyderabad, Telangana, India |
| Smilax Laboratories Limited | ₹206.57 Cr (FY 2025) | •••• | •••• | -25.0% | •••• | Hyderabad, Telangana, India |
| Swati Spentose Private Limited | ₹205.55 Cr (FY 2024) | •••• | •••• | 11.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Vardhman Chemtech by revenue in the Pharma industry (API 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 Vardhman Chemtech Limited
Vardhman Chemtech Limited is audited by Simrit & Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Simrit & Associates | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Vardhman Chemtech Limited
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Charges & Borrowings of Vardhman Chemtech Limited
Open charges
₹25 Cr
Satisfied charges
₹869.07 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 20 Jul 2022 | Hdfc Bank Limited | ₹25 Cr | Open |
| 04 Aug 2022 | Hdfc Bank Limited | ₹62 Cr | Satisfied |
| 20 Aug 2014 | Punjab Reliable Investments Private Limited | ₹73 Lakh | Satisfied |
| 24 May 2014 | State Bank of Patiala | ₹268.38 Cr | Satisfied |
| 29 Mar 2013 | Punjab Kashmir Finance Limited | ₹1.5 Cr | Satisfied |
Total charge records: 24 View all charges
Deals & Funding of Vardhman Chemtech Limited
Vardhman Chemtech Limited has 15 deals on record (8 funding rounds, 5 secondary share transfers, 1 rights issue), with disclosed funding of ₹299.18 Cr; the latest was in April 2021.
Total deals
15
Funding rounds
8
Secondary share transfers
5
Rights issue
1
Convertible or debt financing
1
Disclosed funding
₹299.18 Cr
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: DPB Antibiotics Private Limited & Yatish Khurana, DPB Antibiotics Private Limited & Bhavin Manharlal Ajmera, DPB Antibiotics Private Limited & Devang Manharlal Ajmera Seller: IL&FS Investment Managers, DPB Antibiotics Private Limited |
| Mar 2021 | Rights issue | ₹10 Lakh | Investors: DPB Antibiotics Private Limited |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: Vardhman Bio Sciences Private Limited Seller: Supersonic Dealcom Private Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Supersonic Dealcom Private Limited Seller: Vardhman Bio Sciences Private Limited |
| Mar 2014 | Funding round | ₹76.48 Cr | Investors: IL&FS Investment Managers, Shivraj Traders Private Limited |
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Full deal history
All 15 deals with amounts, valuations, instruments and every party are in the company report.
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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Vardhman Chemtech Limited
Vardhman Chemtech Limited has 59 court cases on record: 5 filed by Vardhman Chemtech, 54 filed against it. 3 cases are pending and 56 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Total cases
59
Filed by the company
5
Filed against the company
54
Pending
3
Disposed
56
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 38 | 38 | 1 |
| High courts | 17 | 13 | 1 |
| Supreme Court | 4 | 3 | 1 |
Cases on record (5 of 59)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Chandigarh | Execution petition | Filed against the company by Premier Intermediates Limited | Disposed |
| District court, West, Delhi | Execution petition | Filed against the company by Om Logistics Limited | Disposed |
| District court, Chandigarh | Court case (CS CJ) | Filed against the company by Bombay Gujrat Roadlines Private Limited | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Chemtrade Overseas Private Limited | Disposed |
| District court, New Delhi, Delhi | Criminal case | Filed against the company by Sbi Capital Markets Limited | Disposed |
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Full case history
All 59 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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Employees and EPFO Compliance at Vardhman Chemtech Limited
Vardhman Chemtech Limited has a workforce of 181 employees as of Sep 11, 2024.
Employee count
181
Active EPFO establishments
2
Employee growth
4.02%
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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 Vardhman Chemtech Limited
Vardhman Chemtech Limited has 18 board changes on record since 2009: 4 appointments and 14 cessations. The latest: Bhavin Manharlal Ajmera ceased to be Additional Director on 30 Nov 2021.
Charges
A charge registered on 04 Aug 2022 via Charge ID 100613393 with Hdfc Bank Limited was fully satisfied on 30 Sep 2025.
AGM
Vardhman Chemtech Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Vardhman Chemtech Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Chandigarh.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 62.00 Cr with Charge ID 100613393 was registered on 04 Aug 2022.
Charges
A charge with Hdfc Bank Limited of Rs. 25.00 Cr registered on 20 Jul 2022 with Charge ID 100603372 was modified on 04 Aug 2022.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 25.00 Cr with Charge ID 100603372 was registered on 20 Jul 2022.
Ceased
Bhavin Manharlal Ajmera ceased to be Additional Director.
Ceased
Devang Manharlal Ajmera ceased to be Additional Director.
Ceased
Piyush Manharlal Ajmera ceased to be Additional Director.
Appointed
Sharvan Bhatt was appointed as Whole-Time Director.
Charges
A charge registered on 13 Mar 2010 via Charge ID 10208476 with Allahabad Bank was fully satisfied on 22 Jun 2021.
Charges
A charge registered on 24 May 2014 via Charge ID 10507211 with State Bank Of Patiala was fully satisfied on 31 May 2021.
61 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Vardhman Chemtech Limited
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MSME Payment Delays by Vardhman Chemtech Limited
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Subsidiaries & Group Companies of Vardhman Chemtech Limited
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Corporate group structure
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GST Compliance of Vardhman Chemtech Limited
Vardhman Chemtech has 3 GST registrations: 1 active and 2 cancelled or inactive.
Total GSTINs
3
Active
1
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AABCV3290P1Z1 | Punjab | Active | 01 Jul 2017 |
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MCA Filings & Documents of Vardhman Chemtech Limited
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Frequently Asked Questions about Vardhman Chemtech Limited
Vardhman Chemtech is an active public limited company based in Chandigarh, India. The company works in api manufacturers, within the pharma industry. It was incorporated on 21 August 1996 (30+ years old) and is registered under CIN U24117CH1996PLC018656.
Vardhman Chemtech reported revenue of ₹208.69 Cr for FY 2025 (down 13% YoY).
Vardhman Chemtech has 4 current directors:
- Sharvan Bhatt - Whole-Time Director
- Devang Manharlal Ajmera - Director
- Piyush Manharlal Ajmera - Director
- Bhavin Manharlal Ajmera - Director
Vardhman Chemtech reported a net profit of ₹3.61 Cr (net margin 1.7%) and EBITDA of ₹21.78 Cr (EBITDA margin 10.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Vardhman Chemtech is -4% over three years and 93% over five years. In the latest year (FY 2025) revenue fell 13%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Vardhman Chemtech is 03AABCV3290P1Z1, registered in Punjab. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Vardhman Chemtech is U24117CH1996PLC018656. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Vardhman Chemtech has 59 court cases on record: 5 filed by the company and 54 filed against it. 3 are pending. Most are in the district courts.
Vardhman Chemtech was incorporated on 21 August 1996, making it 30+ years old. It is registered with the Registrar of Companies, Chandigarh.
Vardhman Chemtech has 15 deals on record (8 funding rounds, 5 secondary share transfers, 1 rights issue), with disclosed funding of ₹299.18 Cr; the latest was in April 2021.
The peers of Vardhman Chemtech by revenue are A. R. Life Sciences Private Limited, Loxim Industries Limited, Raks Pharma Private Limited, Akums Lifesciences Limited, Chemcon Speciality Chemicals Limited and 5 more, all in the Pharma industry (API Manufacturers).