About Vardhman Industries Limited
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Vardhman Industries Limited was a public limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Jsw Steel Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 05 December 1984.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U74899MH1984PLC377011. The company has 9 GST registrations on record, none of which is active.
The company had an authorised share capital of ₹63.5 Cr and a paid-up capital of ₹63.5 Cr. It was led by directors including Monica Yadav and Kaustubh Sudhakar Kulkarni.
Its last annual general meeting (AGM) was held on 19 July 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at Jsw Centre 5th Floor Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2022, the company reported a revenue of ₹445.23 Cr, a growth of 28% compared to the previous year. For the same year it recorded a net profit of ₹10.88 Cr (net margin 2.4%) and EBITDA of ₹15.54 Cr (EBITDA margin 3.5%). Revenue has grown at a compounded annual rate (CAGR) of 81% over three years and 17% over five years.
The company had about 70 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Vardhman Industries. As per MCA filings, the company had satisfied charges of ₹357.51 Cr on record. Court records list 71 cases involving the company, including 30 filed by the company and 41 filed against it; 7 cases are pending. The company has 13 deals on record (12 market trades, 1 acquisition); the latest was in March 2020. Its 8 peer companies in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products) are compared by revenue, 4 larger and 4 smaller; the largest is Utkarsh Bars Private Limited with revenue of ₹449.09 Cr.
The last known website on record is vardhmanindus.com.
Company details
CIN history
Vardhman Industries has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U74899MH1984PLC377011, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74899MH1984PLC377011 | Current |
| L74899DL1984PLC019492 | Previous |
| U74899DL1984PLC019492 | Previous |
Contact details
Vardhman Industries Limited's registered office is in Mumbai, Maharashtra. Its website is vardhmanindus.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressJsw Centre 5th Floor Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Vardhman Industries Limited, buy the company report.
- 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
Brands
Vardhman Industries operates one associated brand: Vardhman Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Iron and ferroalloy manufacturing services are provided in India. | vardhmanindus.com |
Business activity
The main business activity of Vardhman Industries is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Vardhman Industries Limited, buy the company report.
Financials of Vardhman Industries Limited
FY 2022 filings availableVardhman Industries Limited reported revenue of ₹445.23 Cr (up 28% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 17% over five years, including 28% growth in the latest year. EBITDA fell 48% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹445.23 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹15.54 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹10.88 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3.5% | ||||
| Net Profit Margin | 2.4% | ||||
| 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 Vardhman Industries Limited, buy the company report.
Board of directors and KMP of Vardhman Industries Limited
Vardhman Industries Limited currently reports 4 directors and 1 key managerial person. 18 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Monica Yadav Also directs: JSW Natural Resources Bengal Limited, JSW Natural Resources India Limited, JSW Jharkhand Steel Limited and 3 more | Director | 30 Mar 2022 | 4 Years 7 Months | As last reported |
| Kaustubh Sudhakar Kulkarni Also directs: JSW Dulux Limited, JSW Jfe Kalinga Steel Limited, JSW Rayalaseema Steel Limited and 2 more | Director | 13 Dec 2019 | 6 Years 10 Months | As last reported |
| Chandrasekaran Prabhakaran Also directs: Neotrex Steel Limited, JSW Vijayanagar Metallics Limited, JSW Neo Energy Limited and 1 more | Director | 13 Dec 2019 | 6 Years 10 Months | As last reported |
| Anil Kumar Surya | Cfo | 31 Mar 2017 | 9 Years 7 Months | As last reported |
| Ashwani Kumar Sharma | Director | 13 Dec 2019 | 6 Years 10 Months | As last reported |
Peer comparison
Vardhman Industries Limited is compared with the 8 companies closest to it by revenue in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Utkarsh Bars Private Limited | ₹449.09 Cr (FY 2025) | 10.0% | Ahmedabad, Gujarat, India | |||
| Calstar Sponge Limited | ₹447.25 Cr (FY 2025) | -2.0% | Kolkata, West Bengal, India | |||
| Vandana Ispat Private Limited | ₹446.58 Cr (FY 2024) | -6.0% | Raipur, Chhattisgarh, India | |||
| Salagram Power and Steel Private Limited | ₹446.5 Cr (FY 2025) | -11.0% | Kolkata, West Bengal, India | |||
| Vardhman Industries Limitedthis company | ₹445.23 Cr (FY 2022) | ₹10.88 Cr | 2.4% | 28.0% | 70 | Mumbai, Maharashtra, India |
| S.Pyarelal Ispat Private Limited | ₹445.16 Cr (FY 2024) | -1.0% | Raipur, Chhattisgarh, India | |||
| Shri Badrinarain Alloys & Steel Ltd. | ₹444.62 Cr (FY 2018) | -12.0% | Howrah, West Bengal, India | |||
| Magnum Mi Steel Private Limited | ₹442.79 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Shyam Ferrous Limited | ₹442.09 Cr (FY 2025) | -5.0% | Kanpur, Uttar Pradesh, India |
To see the full peer comparison of Vardhman Industries Limited, buy the company report.
Auditor
Vardhman Industries Limited is audited by S.R. Batliboi & Co. LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Co. LLP | FY 2022 | 301003E/E300005 |
Shareholding
The shareholding of Vardhman Industries Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Vardhman Industries Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Dec 2012 | 10396524 | Idbi Bank Limited | ₹5.5 Cr | Satisfied | |
| 15 Dec 2012 | 10395565 | State Bank of India | ₹17 Cr | Satisfied | |
| 04 Jan 2012 | 10326093 | Idbi Bank Limited | ₹7 Cr | Satisfied | |
| 27 Jul 2011 | 10307831 | Idbi Bank Limited | ₹28.5 Cr | Satisfied | |
| 17 Mar 2011 | 10274780 | Idbi Bank Limited | ₹7 Cr | Satisfied |
To see the full charge records of Vardhman Industries Limited, buy the company report.
Total charge records: 30 View all charges
Deals & funding
Vardhman Industries Limited has 13 deals on record (12 market trades, 1 acquisition); the latest was in March 2020.
Deals on record (5 of 13)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Acquisition | ₹59 Cr | Buyer: JSW Steel Limited |
| Dec 2018 | Market trade | ₹2 Lakh | Buyer: Manoj Kumar Huf |
| Jun 2018 | Market trade | ₹2.6 Lakh | Buyer: an individual Seller: an individual |
| Feb 2018 | Market trade | ₹12.2 Lakh | Buyer: an individual Seller: an individual |
| Jan 2018 | Market trade | ₹8.3 Lakh | Buyer: an individual Seller: an individual |
To see the full deal history of Vardhman Industries 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
Vardhman Industries Limited has 71 court cases on record: 30 filed by Vardhman Industries, 41 filed against it. 7 cases are pending and 64 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 33 | 16 | 4 |
| District courts | 30 | 22 | 2 |
| Supreme Court | 3 | 1 | 1 |
| NCLT | 3 | 0 | 0 |
| NCLAT | 2 | 2 | 0 |
Cases on record (5 of 71)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, PUNJAB | Writ petition | Filed by the company against Punjab State Power Corporation Ltd and Others and 3 others | Pending |
| NCLAT, Chairperson Court | Tribunal matter | Filed against the company by Mr. Sumat Kumar Gupta Resolution Professional M/S Vallabh Textiles Company Limited | Disposed |
| District court, South East, Delhi | Execution petition | Filed against the company by The New India Assurance Co. Ltd. | Disposed |
| High Court, PUNJAB | Writ petition | Filed by the company against Punjab State Power Corporation Ltd.(Pspcl) & Ors | Disposed |
| District court, Ludhiana, Punjab | Appeal | Filed against the company by MMTC Limited | Disposed |
To see the full case history of Vardhman Industries 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
Vardhman Industries Limited was last rated by Crisil on 26 May 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 26 May 2020 |
To see the full credit ratings and regulatory alerts of Vardhman Industries Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Vardhman Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Vardhman Industries has 1 associated company. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
Employees & EPFO
Vardhman Industries Limited has a workforce of 70 employees on its EPFO records as of Apr 05, 2024, across 2 active EPFO establishments.
GST
Vardhman Industries has 9 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Vardhman Industries Limited, buy the company report.
Recent activity
Vardhman Industries Limited has 20 board changes on record since 2012: 5 appointments and 15 cessations. The latest: Monica Yadav ceased to be Additional Director on 19 Jul 2022.
88 earlier events are in the company report.
Frequently asked questions
Vardhman Industries has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Vardhman Industries was a public limited company based in Mumbai, Maharashtra, India. The company worked in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 05 December 1984 and is registered under CIN U74899MH1984PLC377011. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Vardhman Industries was incorporated on 05 December 1984. It is registered with the Registrar of Companies, Mumbai.
Vardhman Industries had 5 directors and KMP:
- Monica Yadav - Director
- Kaustubh Sudhakar Kulkarni - Director
- Chandrasekaran Prabhakaran - Director
- Ashwani Kumar Sharma - Director
- Anil Kumar Surya - Cfo
The CIN (Corporate Identification Number) of Vardhman Industries is U74899MH1984PLC377011. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Vardhman Industries is at Jsw Centre 5th Floor Bandra Kurla Complex Bandra East, Mumbai, Maharashtra, India – 400051.
Vardhman Industries can be reached through the website vardhmanindus.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Vardhman Industries on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 19 July 2022. Year-wise statements from 2015 are in the company report.
No. Vardhman Industries has 9 GST registrations on record and all of them are cancelled or inactive.
Vardhman Industries operated in the metals and minerals industry, in the steel manufacturing and processing segment.
Vardhman Industries has 13 deals on record (12 market trades, 1 acquisition); the latest was in March 2020.
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