MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0054203
Varna Coats Private Limited - manufacturing in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹170.24 Cr
▲ 9% YoY
Net profit · FY 2025
₹11.21 Cr
Net margin 6.6%
EBITDA · FY 2025
₹19 Cr
EBITDA margin 11.2%
Authorised capital
₹9 Cr
Registered with MCA
Paid-up capital
₹9 Cr
Issued & subscribed
Open charges
₹16.29 Cr
Satisfied ₹55.09 Cr
Company age
16 yrs
Est. 2010
Employees · EPFO
114
Provident fund records
About Varna Coats Private Limited
Data last updated:
Varna Coats Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the paint and coatings segment of the manufacturing sector. It was incorporated on 22 October 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U24100KA2010PTC055617. Its GSTIN is 29AADCV5715F1Z8 (Karnataka).
The company has an authorised share capital of ₹9 Cr and a paid-up capital of ₹9 Cr. It is led by directors including Krishna Rao Nagarajarao (Managing Director) and Homma Chinnaswamy Sathyanarayana (Whole-Time 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 Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹170.24 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹11.21 Cr (net margin 6.6%) and EBITDA of ₹19 Cr (EBITDA margin 11.2%). Revenue has grown at a compounded annual rate (CAGR) of 17% over three years and 18% over five years.
The company has about 114 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹16.29 Cr and satisfied charges of ₹55.09 Cr on record. Court records list 21 cases involving the company, including 21 filed by the company; 1 case is pending. The company has 1 deal on record (1 funding round), with disclosed funding of ₹4.52 Cr; the latest was in April 2011. Its 7 peer companies in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 2 smaller; the largest is Technopaints and Chemicals Limited with revenue of ₹210.21 Cr. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 583 overdue payments to 46 micro and small suppliers.
Varna Coats Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0054203). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website varnapaints.com.
Company details
CIN U24100KA2010PTC055617
Registration Number 055617
Incorporation Date 22 October 2010
ROC Bangalore
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-KR-03-0054203
Key People
Krishna Rao Nagarajarao Managing Director Homma Chinnaswamy Sathyanarayana Whole-Time Director Pradeep Mathad Whole-Time Director Recognitions & Rankings of Varna Coats
Contact details
Varna Coats Private Limited's registered office is in Bangalore, Karnataka. Its website is varnapaints.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo. 37 4th Main Road 3rd Phase, Peenya Industrial Area, Bangalore, Karnataka, India – 560058
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Varna Coats Private Limited, buy the company report.
Comprehensive company report
Varna Coats 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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Business activity
The main business activity of Varna Coats is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Varna Coats Private Limited, buy the company report.
Financials of Varna Coats Private Limited
FY 2024 filings availableVarna Coats Private Limited reported revenue of ₹170.24 Cr (up 9% YoY) for FY 2025.
Revenue · FY 2025
₹170.24 Cr ▲ 9%
Net profit · FY 2025
₹11.21 Cr margin 6.6%
EBITDA · FY 2025
₹19 Cr margin 11.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 9%
3 years · compounded
▲ 17%
5 years · compounded
▲ 18%
EBITDA CAGR growth
1 year
▼ 14%
3 years · compounded
▲ 36%
5 years · compounded
▲ 17%
Revenue has grown at a compounded annual rate (CAGR) of 18% over five years, including 9% growth in the latest year. EBITDA fell 14% 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 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 | ₹19 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.21 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 11.2% | ||||
| Net Profit Margin | 6.6% | ||||
| 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 Varna Coats Private Limited, buy the company report.
Board of directors of Varna Coats Private Limited
Varna Coats has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Homma Chinnaswamy Sathyanarayana | Whole-Time Director | 22 Oct 2010 | 16 Years 0 Months | Current |
| Pradeep Mathad | Whole-Time Director | 22 Oct 2010 | 16 Years 0 Months | Current |
| Krishna Rao Nagarajarao | Managing Director | 22 Oct 2010 | 16 Years 0 Months | Current |
Peer comparison
Varna Coats Private Limited is compared with the 7 companies closest to it by revenue in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Technopaints and Chemicals Limited | ₹210.21 Cr (FY 2025) | 54.0% | Hyderabad, Telangana, India | |||
| Surfa Coats (India) Private Limited | ₹182.5 Cr (FY 2025) | -3.0% | Karnataka, India | |||
| SBL Specialty Coatings Private Limited | ₹178.7 Cr (FY 2025) | -1.0% | Chandigarh, India | |||
| Maharani Innovative Paints Private Limited | ₹174.21 Cr (FY 2025) | 7.0% | New Delhi, Delhi, India | |||
| Carboline (India) Private Limited | ₹173.8 Cr (FY 2025) | -12.0% | Ambattur Chennai, Tamil Nadu, India | |||
| Varna Coats Private Limitedthis company | ₹170.24 Cr (FY 2025) | ₹11.21 Cr | 6.6% | 9.0% | 114 | Bangalore, Karnataka, India |
| Sharp Coating Private Limited. | ₹163.04 Cr (FY 2025) | 22.0% | New Delhi, Delhi, India | |||
| R R Paint Private Limited | ₹140.72 Cr (FY 2025) | 36.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Varna Coats Private Limited, buy the company report.
Auditor
Varna Coats Private Limited is audited by M.A. Narasimhan & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M.A. Narasimhan & Co | FY 2023 | 002347S |
Shareholding
The shareholding of Varna Coats Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Varna Coats Private Limited, buy the company report.
Charges & borrowings
Open charges
₹16.29 Cr
Satisfied charges
₹55.09 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Nov 2021 | 100504533 | Others | ₹16.29 Cr | Satisfied | |
| 21 Mar 2014 | 10493127 | Others | ₹38.8 Cr | Satisfied |
To see the full charge records of Varna Coats Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Varna Coats Private Limited has 1 deal on record (1 funding round), with disclosed funding of ₹4.52 Cr; the latest was in April 2011.
Total deals
1
Funding round
1
Disclosed funding
₹4.52 Cr
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2011 | Funding round | ₹4.52 Cr | Investors: 3 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Varna Coats Private Limited has 21 court cases on record: 21 filed by Varna Coats. 1 case is pending and 20 are disposed.
Total cases
21
Filed by the company
21
Pending
1
Disposed
20
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 0 | 1 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Dr Agritech Engineering Pvt Ltd and 2 others | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against Dr Agritech Engineering Pvt Ltd and 2 others | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Sameta Metal Pro Pvt Ltd | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Ms R A Powergen Engineers Pvt. Ltd. | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Ms R A Powergen Engineers Pvt. Ltd. | Disposed |
To see the full case history of Varna Coats 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.
MSME payment delays
Varna Coats Private Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 583 overdue payments to 46 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 46)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Jupiter Enterprises | |||
| Gautam Dyes & Chemicals Co | |||
| Madhavi Micro Minerals Private Limited | |||
| Culture Instruments India LLP |
To see the full MSME payment records of Varna Coats Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Varna Coats Private Limited has a workforce of 114 employees on its EPFO records as of Apr 01, 2024, across 1 active EPFO establishment.
Employee count
114
Active EPFO establishments
1
Employee growth
12.87%
GST
Varna Coats has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AADCV5715F1Z8 | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Varna Coats Private Limited, buy the company report.
Recent activity
Varna Coats Private Limited has 6 board changes on record since 2010: 3 appointments and 3 cessations. The latest: Homma Chinnaswamy Sathyanarayana ceased to be Director on 01 Apr 2011.
Charges
A charge registered on 11 Nov 2021 via Charge ID 100504533 with Others was fully satisfied on 16 Aug 2025.
AGM
Varna Coats Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Varna Coats Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Charges
A charge with Others of Rs. 16.29 Cr registered on 11 Nov 2021 with Charge ID 100504533 was modified on 14 Dec 2021.
Charges
A charge with Others amounted to Rs. 16.29 Cr with Charge ID 100504533 was registered on 11 Nov 2021.
Charges
A charge registered on 21 Mar 2014 via Charge ID 10493127 with Others was fully satisfied on 15 Apr 2021.
Charges
A charge with Others of Rs. 38.80 Cr registered on 21 Mar 2014 with Charge ID 10493127 was modified on 09 Mar 2020.
Charges
A charge with Others amounted to Rs. 38.80 Cr with Charge ID 10493127 was registered on 21 Mar 2014.
Ceased
Homma Chinnaswamy Sathyanarayana ceased to be Director.
Ceased
Krishna Rao Nagarajarao ceased to be Director.
Ceased
Pradeep Mathad ceased to be Director.
Appointed
Homma Chinnaswamy Sathyanarayana was appointed as Whole-Time Director.
3 earlier events are in the company report.
Frequently asked questions
Varna Coats is an active private limited company based in Bangalore, Karnataka, India. The company works in paint and coatings, within the manufacturing industry. It was incorporated on 22 October 2010 (16+ years old) and is registered under CIN U24100KA2010PTC055617.
Varna Coats has 3 current directors:
- Krishna Rao Nagarajarao - Managing Director
- Homma Chinnaswamy Sathyanarayana - Whole-Time Director
- Pradeep Mathad - Whole-Time Director
The latest financial statements of Varna Coats on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Varna Coats is 29AADCV5715F1Z8, registered in Karnataka.
The CIN (Corporate Identification Number) of Varna Coats is U24100KA2010PTC055617. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Varna Coats has 21 court cases on record: 21 filed by the company. 1 is pending.
Varna Coats was incorporated on 22 October 2010, making it 16+ years old. It is registered with the Registrar of Companies, Bangalore.
Varna Coats has 1 deal on record (1 funding round), with disclosed funding of ₹4.52 Cr; the latest was in April 2011.
The peers of Varna Coats by revenue are Technopaints and Chemicals Limited, Surfa Coats (India) Private Limited, SBL Specialty Coatings Private Limited, Maharani Innovative Paints Private Limited, Carboline (India) Private Limited and 2 more, all in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Homma Chinnaswamy Sathyanarayana ceased to be Director on 01 Apr 2011. Krishna Rao Nagarajarao ceased to be Director on 01 Apr 2011. Pradeep Mathad ceased to be Director on 01 Apr 2011. Varna Coats has 6 board changes on record in total.
Yes, Varna Coats is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0054203).
Varna Coats has 12 MSME Form 1 returns on record between 2019 and 2024, listing 583 overdue payments to 46 micro and small suppliers. The latest return was filed on 27 Apr 2024.
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