About Varrsana Ispat Ltd
Data last updated:
Varrsana Ispat Ltd is a public limited company based in Kolkata, West Bengal, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 01 March 2000.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U99999WB2000PLC124804. Its GSTIN is 08AACCV1058N1Z0 (Rajasthan). The company holds 8 GST registrations, of which 7 are active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹24.85 Cr. It was formerly known as Eureka Rapid Communication Ltd. It is led by directors including Akshay Jhunjhunwala (Whole-Time Director) and Mahesh Kumar Sureka.
Its last annual general meeting (AGM) was held on 05 November 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Everest House 46 – C Chowringee Road 15th Floor R. N. .15B, Kolkata, West Bengal, India – 700071.
As per the financials filed for FY 2019, the company reported a revenue of ₹941.95 Cr, a growth of 17% compared to the previous year. For the same year it recorded a net loss of ₹55.03 Cr (net margin -5.8%) and EBITDA of ₹59.68 Lakh (EBITDA margin 0.1%). Revenue has grown at a compounded annual rate (CAGR) of 10% over three years.
The company has about 771 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Varrsana Ispat Limited. As per MCA filings, the company has open charges of ₹2,353.21 Cr on record. Court records list 45 cases involving the company, including 24 filed by the company and 21 filed against it; 13 cases are pending.
The last known website on record is varrsana.com.
Company details
CIN history
Varrsana Ispat has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U99999WB2000PLC124804, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U99999WB2000PLC124804 | Current |
| U99999DL2000PLC103903 | Previous |
| U24100WB2000PLC124804 | Previous |
Contact details
Varrsana Ispat Ltd's registered office is in Kolkata, West Bengal. Its website is varrsana.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressEverest House 46 – C Chowringee Road 15th Floor R. N. .15B, Kolkata, West Bengal, India – 700071
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Varrsana Ispat Ltd, 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
Varrsana Ispat operates one associated brand: Varrsana Ispat Limited. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Steel production, tower infrastructure, and power operations in India. | varrsana.com |
Business activity
The main business activity of Varrsana Ispat 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 Varrsana Ispat Ltd, buy the company report.
Financials of Varrsana Ispat Ltd
FY 2019 filings availableVarrsana Ispat Ltd reported revenue of ₹941.95 Cr (up 17% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 10% over three years, including 17% growth in the latest year. EBITDA fell 97% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| 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 | ₹59.68 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹55.03 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.1% | ||||
| Net Profit Margin | -5.8% | ||||
| 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 Varrsana Ispat Ltd, buy the company report.
Board of directors of Varrsana Ispat Ltd
Varrsana Ispat has 3 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahesh Kumar Sureka | Director | 26 Jul 2005 | 21 Years 2 Months | As last reported |
| Akshay Jhunjhunwala Also directs: Bakeraika Industries Private Limited | Whole-Time Director | 22 Dec 2012 | 13 Years 10 Months | As last reported |
| Manoj Mishra Also directs: Anagi Constructions Private Limited | Director | 26 Jul 2005 | 21 Years 2 Months | As last reported |
Peer comparison
Varrsana Ispat Ltd is compared with the 10 companies closest to it by revenue in 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 |
|---|---|---|---|---|---|---|
| Ferro Alloys Corporation Limited | ₹954.47 Cr (FY 2025) | 15.0% | Odisha, India | |||
| Metalxperts (India) Private Limited | ₹948.82 Cr (FY 2025) | 5.0% | Mumbai, Maharashtra, India | |||
| Prime Steel Processors Private Limited | ₹946.37 Cr (FY 2025) | 26.0% | Ludhiana, Punjab, India | |||
| S M Auto Engineering Pvt Ltd | ₹945.79 Cr (FY 2025) | -16.0% | Pune, Maharashtra, India | |||
| Choksi Heraeus Private Limited | ₹942.16 Cr (FY 2025) | 46.0% | Udaipur, Rajasthan, India | |||
| Varrsana Ispat Ltdthis company | ₹941.95 Cr (FY 2019) | -₹55.03 Cr | -5.8% | 17.0% | 771 | Kolkata, West Bengal, India |
| Maxim Tubes Company Private Limited | ₹941.31 Cr (FY 2025) | -9.0% | Chhatral, Gujarat, India | |||
| Team Ferro Alloys Private Limited | ₹939.63 Cr (FY 2025) | 32.0% | Dadra, Dadra and Nagar Haveli, India | |||
| Rajputana Stainless Limited | ₹937.49 Cr (FY 2025) | 2.0% | Panchmahal, Gujarat, India | |||
| Rajratan Global Wire Limited | ₹936.92 Cr (FY 2025) | 5.0% | Indore, Madhya Pradesh, India | |||
| Maini Precision Products Limited | ₹934.81 Cr (FY 2024) | 11.0% | Thane, Maharashtra, India |
To see the full peer comparison of Varrsana Ispat Ltd, buy the company report.
Auditor
Varrsana Ispat Ltd is audited by Sanjay Jhanwar & Associates for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Sanjay Jhanwar & Associates | FY 2018 | 141603W |
Shareholding
The shareholding of Varrsana Ispat Ltd is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Varrsana Ispat Ltd, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Dec 2013 | 10470596 | Sberbank | ₹25 Cr | Open | |
| 02 May 2013 | 10426788 | Corporation Bank | ₹61 Cr | Open | |
| 22 Mar 2013 | 10412551 | Others | ₹15 Cr | Open | |
| 01 Jun 2012 | 10359645 | Others | ₹605 Cr | Open | |
| 09 Apr 2011 | 10283037 | Others | ₹144.05 Cr | Open |
To see the full charge records of Varrsana Ispat Ltd, buy the company report.
Total charge records: 15 View all charges
Legal cases
Varrsana Ispat Ltd has 45 court cases on record: 24 filed by Varrsana Ispat, 21 filed against it. 13 cases are pending and 32 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 10 | 6 |
| High courts | 15 | 5 | 4 |
| Supreme Court | 6 | 5 | 1 |
| NCLAT | 3 | 1 | 2 |
Cases on record (5 of 45)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1807-Ordinary Civil Matters : Others) | Filed against the company by Anil Goel Liquidator of Rei Agro Limited Having Office at E - 10A, Kailash Colony, GK - 1 , , , Delhi | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Omkara Assets Reconstruction Pvt. Ltd. | Pending |
| Supreme Court | Court case (Special Leave Petition (Civil)) | Filed against the company by M/S. Sheetal Structurals Private Limited | Disposed |
| High Court, GUJARAT | Special civil application | Filed against the company by M/S Sheetal Structurals Private Limited | Disposed |
| High Court of Delhi | Arbitration matter | Filed by the company against Telecommunications Consultants India Ltd. | Disposed |
To see the full case history of Varrsana Ispat Ltd, 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
No delayed payments to MSME suppliers are on our record for Varrsana Ispat Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Varrsana Ispat has 1 associated company. This group structure data is as of FY 2018. The table lists each entity with its relationship and holding.
Employees & EPFO
Varrsana Ispat Ltd has a workforce of 771 employees on its EPFO records as of Aug 22, 2025, across 1 active EPFO establishment.
GST
Varrsana Ispat has 8 GST registrations: 7 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 08AACCV1058N1Z0 | Rajasthan | Active | 01 Jul 2017 |
| 09AACCV1058N1ZY | Uttar Pradesh | Active | 01 Jul 2017 |
| 10AACCV1058N1ZF | Bihar | Active | 01 Jul 2017 |
| 23AACCV1058N1Z8 | Madhya Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Varrsana Ispat Ltd, buy the company report.
Recent activity
Varrsana Ispat Ltd has 12 board changes on record since 2005: 3 appointments and 9 cessations. The latest: Ravinder Singh Kataria ceased to be Company Secretary on 20 Jul 2019.
27 earlier events are in the company report.
Frequently asked questions
Varrsana Ispat is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Varrsana Ispat is a company under liquidation, formerly operating as a public limited company based in Kolkata, West Bengal, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 01 March 2000 and is registered under CIN U99999WB2000PLC124804. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Varrsana Ispat has 3 current directors:
- Akshay Jhunjhunwala - Whole-Time Director
- Mahesh Kumar Sureka - Director
- Manoj Mishra - Director
The latest financial statements of Varrsana Ispat on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 05 November 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Varrsana Ispat is U99999WB2000PLC124804. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Varrsana Ispat has open charges of ₹2,353.21 Cr and no satisfied charges on record as per latest MCA filings.
Varrsana Ispat has 45 court cases on record: 24 filed by the company and 21 filed against it. 13 are pending. Most are in the district courts.
Varrsana Ispat was incorporated on 01 March 2000. It is registered with the Registrar of Companies, Kolkata.
The peers of Varrsana Ispat by revenue are Ferro Alloys Corporation Limited, Metalxperts (India) Private Limited, Prime Steel Processors Private Limited, S M Auto Engineering Pvt Ltd, Choksi Heraeus Private Limited and 5 more, all in the same principal business activity (metal and metal products).
Ravinder Singh Kataria ceased to be Company Secretary on 20 Jul 2019. Jaswant Singh ceased to be Company Secretary on 19 Nov 2016. Mukesh Kumar ceased to be Additional Director on 29 Sep 2015. Varrsana Ispat has 12 board changes on record in total.
Varrsana Ispat can be reached through the website varrsana.com. Its registered office is in Kolkata, West Bengal, India.