About Vdeal System Limited
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Vdeal System Limited is a public limited company based in Jatni, Odisha, India. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 10 December 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Cuttack, under CIN L31100OR2009PLC011396. Its GSTIN is 21AANCS6836J1Z0 (Odisha). The company holds 2 GST registrations, of which 1 is active. It is a listed company.
The company has an authorised share capital of ₹6 Cr and a paid-up capital of ₹4.89 Cr. It was formerly known as Swastik Energy System Private Limited. It is led by directors including Dhiraj Kochar (Managing Director) and Tapaswini Panda (Whole-Time Director).
Its last annual general meeting (AGM) was held on 27 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Plot No. 4/A 4/B & 6 Janla Industrial Area, Jatni, Odisha, India – 752054.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹45.11 Cr, a growth of 34.3% compared to the previous year. For the same year it recorded a net profit of ₹4.17 Cr (net margin 9.2%) and EBITDA of ₹7.66 Cr (EBITDA margin 17%). The net worth stands at ₹29.8 Cr (up 16.2% YoY). Total assets are valued at ₹50.28 Cr (up 38.6% YoY).
The company has about 21 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Vdeal System. As per MCA filings, the company has open charges of ₹13.2 Cr and satisfied charges of ₹10.74 Cr on record. The company has 7 deals on record (4 secondary share transfers, 2 funding rounds, 1 ipo), with disclosed funding of ₹97 Lakh; the latest was in August 2024. Its 10 peer companies in the Power industry (Power Equipment Manufacturers) are compared by revenue, 5 larger and 5 smaller; the largest is Kiran Electric Company (Rajkot) Pvt Ltd with revenue of ₹34.12 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vdealsystem.com.
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- Registered AddressPlot No. 4/A 4/B & 6 Janla Industrial Area, Jatni, Odisha, India – 752054
- IndustryEnergy and Power, Power Equipment Manufacturers
- 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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Financials of Vdeal System Limited FY 2025-26 filings available
Vdeal System Limited reported revenue of ₹45.11 Cr (up 34.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 45.11 | 33.58 | 26.22 | 24.38 | 19.00 | 16.57 |
| Revenue growth | +34.3% | +28.1% | +7.6% | +28.3% | +14.7% | - |
| EBITDA | 7.66 | 6.92 | 5.53 | 2.48 | 1.47 | 1.34 |
| EBITDA margin | +17.0% | +20.6% | +21.1% | +10.2% | +7.7% | +8.1% |
| Profit before tax | 5.83 | 5.33 | 4.26 | 1.49 | 0.29 | 0.31 |
| Net profit | 4.17 | 3.99 | 3.11 | 1.11 | 0.21 | 0.22 |
| Net profit margin | +9.2% | +11.9% | +11.9% | +4.6% | +1.1% | +1.3% |
| EPS (₹) | 8.51 | 8.16 | 9.50 | 369.55 | 77.54 | 76.80 |
| Balance sheet | ||||||
| Total assets | 50.28 | 36.29 | 15.70 | 9.66 | 8.73 | 8.36 |
| Net worth | 29.80 | 25.64 | 6.29 | 3.42 | 2.32 | 2.09 |
| Total debt | 20.48 | 10.64 | 9.41 | 6.23 | 6.42 | 6.28 |
| Cash & bank | 0.85 | 0.57 | 0.33 | 0.37 | 0.28 | 1.04 |
| Net working capital | 45.27 | 32.59 | 12.94 | 6.78 | 5.92 | 5.23 |
| Cash flow | ||||||
| Cash from operations | (6.37) | (13.78) | 1.35 | 1.12 | (0.12) | 1.37 |
| Cash from investing | (1.58) | (1.26) | (3.63) | (0.08) | (0.11) | (1.06) |
| Cash from financing | 8.23 | 15.28 | 2.24 | (0.94) | (0.53) | (0.13) |
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 12.17 | 6.23 |
| Other income | 0.01 | 0.00 |
| Total expenses | 9.61 | 5.11 |
| EBITDA | 2.56 | 1.12 |
| EBITDA margin | +21.0% | +18.0% |
| Depreciation | 0.07 | 0.01 |
| Interest | 0.32 | 0.46 |
| Profit before tax | 2.18 | 0.65 |
| Tax | 0.62 | 0.14 |
Financial Statements
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 12.17 | 6.23 |
| Other income | 0.01 | 0.00 |
| Total expenses | 9.61 | 5.11 |
| EBITDA | 2.56 | 1.12 |
| EBITDA margin | +21.0% | +18.0% |
| Depreciation | 0.07 | 0.01 |
| Interest | 0.32 | 0.46 |
| Profit before tax | 2.18 | 0.65 |
| Tax | 0.62 | 0.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 45.11 | 33.58 | 26.22 | 24.38 | 19.00 | 16.57 |
| Revenue growth | +34.3% | +28.1% | +7.6% | +28.3% | +14.7% | - |
| Other income | 0.18 | 0.02 | 0.03 | 0.03 | 0.05 | 0.05 |
| Total expenses | 37.45 | 26.66 | 20.69 | 21.90 | 17.53 | 15.23 |
| Employee cost | 0.00 | 1.96 | 1.80 | 1.60 | 1.24 | 1.26 |
| EBITDA | 7.66 | 6.92 | 5.53 | 2.48 | 1.47 | 1.34 |
| EBITDA margin | +17.0% | +20.6% | +21.1% | +10.2% | +7.7% | +8.1% |
| Depreciation | 0.41 | 0.30 | 0.20 | 0.19 | 0.48 | 0.36 |
| Interest | 1.60 | 1.31 | 1.10 | 0.83 | 0.75 | 0.72 |
| Profit before tax | 5.83 | 5.33 | 4.26 | 1.49 | 0.29 | 0.31 |
| Tax | 1.66 | 1.34 | 1.15 | 0.38 | 0.08 | 0.09 |
| Net profit | 4.17 | 3.99 | 3.11 | 1.11 | 0.21 | 0.22 |
| Net profit margin | +9.2% | +11.9% | +11.9% | +4.6% | +1.1% | +1.3% |
| EPS (₹) | 8.51 | 8.16 | 9.50 | 369.55 | 77.54 | 76.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 4.89 | 4.89 | 3.28 | 0.30 | 0.30 | 0.30 |
| Reserves & surplus | 24.91 | 20.75 | 3.01 | 3.12 | 2.02 | 1.79 |
| Shareholders' funds (net worth) | 29.80 | 25.64 | 6.29 | 3.42 | 2.32 | 2.09 |
| Secured loans | 8.80 | 4.80 | 3.84 | 3.14 | 3.76 | 3.84 |
| Unsecured loans | 11.68 | 5.84 | 5.57 | 3.09 | 2.66 | 2.44 |
| Total debt | 20.48 | 10.64 | 9.41 | 6.23 | 6.42 | 6.28 |
| Total liabilities | 50.28 | 36.29 | 15.70 | 9.66 | 8.73 | 8.36 |
| Assets | ||||||
| Gross block | 4.51 | 3.75 | 4.77 | 4.45 | 4.33 | 4.18 |
| Net block | 4.51 | 3.75 | 2.77 | 2.83 | 2.71 | 3.04 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 29.79 | 24.47 | 8.00 | 5.78 | 4.63 | 3.15 |
| Sundry debtors | 22.36 | 16.32 | 15.88 | 5.98 | 3.37 | 3.62 |
| Cash & bank balances | 0.85 | 0.57 | 0.33 | 0.37 | 0.28 | 1.04 |
| Loans & advances | 5.87 | 3.68 | 0.18 | 0.36 | 0.32 | 0.63 |
| Total current assets | 58.87 | 45.04 | 24.39 | 12.49 | 8.60 | 8.44 |
| Total current liabilities | 13.60 | 12.45 | 11.45 | 5.71 | 2.68 | 3.21 |
| Net working capital | 45.27 | 32.59 | 12.94 | 6.78 | 5.92 | 5.23 |
| Total assets | 50.28 | 36.29 | 15.70 | 9.66 | 8.73 | 8.36 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 0.57 | 0.33 | 0.37 | 0.28 | 1.04 | 0.85 |
| Net cash from operating activities | (6.37) | (13.78) | 1.35 | 1.12 | (0.12) | 1.37 |
| Net cash from investing activities | (1.58) | (1.26) | (3.63) | (0.08) | (0.11) | (1.06) |
| Net cash from financing activities | 8.23 | 15.28 | 2.24 | (0.94) | (0.53) | (0.13) |
| Net change in cash | 0.28 | 0.24 | (0.04) | 0.09 | (0.76) | 0.18 |
| Closing cash | 0.85 | 0.57 | 0.33 | 0.37 | 0.28 | 1.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +34.3% | +28.1% | +7.6% | +28.3% | +14.7% | - |
| EBITDA growth | +10.7% | +25.1% | +123.0% | +68.7% | +9.7% | - |
| PBT growth | +9.4% | +25.1% | +185.9% | +413.8% | -6.5% | +9997.0% |
| Net income growth | +4.5% | +28.3% | +180.2% | +428.6% | -4.6% | - |
| Revenue CAGR (3Y) | +22.8% | +20.9% | +16.5% | - | - | - |
| EBITDA CAGR (3Y) | +45.6% | +67.6% | +60.4% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +9.2% | +11.9% | +11.9% | +4.6% | +1.1% | +1.3% |
| Return on capital employed | - | +25.6% | +42.3% | +25.2% | +12.4% | +12.3% |
| Return on net worth | - | +25.0% | +64.1% | +38.3% | +10.4% | +11.0% |
| Debt / equity | - | 0.63 | 1.61 | 2.20 | 2.88 | 3.00 |
| Long-term debt / equity | - | 0.18 | 0.48 | 0.54 | 0.86 | 0.82 |
| Interest cover | 22.07 | 19.79 | 20.64 | 36.24 | 75.76 | 73.47 |
| Efficiency & per share | ||||||
| Fixed asset turnover | - | 6.21 | 5.69 | 5.55 | 4.47 | 3.96 |
| Inventory turnover | - | 2.07 | 3.81 | 4.68 | 4.88 | 5.26 |
| Debtors turnover | - | 2.09 | 2.40 | 5.21 | 5.44 | 4.58 |
| EPS (₹) | 8.51 | 8.16 | 9.50 | 369.55 | 77.54 | 76.80 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 52.44 | 19.19 | 1,147.47 | 777.91 | 700.37 |
Peer Comparison of Vdeal System Limited
Vdeal System Limited is compared with the companies closest to it by revenue in the Power industry (Power Equipment 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 |
|---|---|---|---|---|---|---|
| Vdeal System Limited this company | ₹45.11 Cr (FY 2026) | •••• | •••• | 34.3% | •••• | Jatni, Odisha, India |
| Kiran Electric Company (Rajkot) Pvt Ltd | ₹34.12 Cr (FY 2025) | •••• | •••• | 24.0% | •••• | Rajkot, Gujarat, India |
| S G Control & Switchgear Private Limited. | ₹33.95 Cr (FY 2024) | •••• | •••• | 39.0% | •••• | New Delhi, Delhi, India |
| Nomax Electrical Steel Private Limited | ₹33.94 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Kolkata, West Bengal, India |
| Power Matrix Solutions Private Limited | ₹33.86 Cr (FY 2025) | •••• | •••• | -15.0% | •••• | Navi Mumbai, Maharashtra, India |
| Vaibhav Energy Saving Equipments Private Limited | ₹33.69 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Nashik, Maharashtra, India |
| Kaizen Electricals Private Limited | ₹33.48 Cr (FY 2025) | •••• | •••• | -36.0% | •••• | Ahmedabad, Gujarat, India |
| Dharia Switchgears and Controls Private Limited | ₹33.48 Cr (FY 2024) | •••• | •••• | 20.0% | •••• | Mumbai, Maharashtra, India |
| Ranisati Wire Private Limited | ₹33.47 Cr (FY 2025) | •••• | •••• | -18.0% | •••• | Jaipur, Rajasthan, India |
| Khedda Insulation Systems Private Limited | ₹33.42 Cr (FY 2025) | •••• | •••• | 46.0% | •••• | Bangalore, Karnataka, India |
| Siddhivinayak Genset Private Limited | ₹33.42 Cr (FY 2024) | •••• | •••• | 24.0% | •••• | Khed, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Vdeal System by revenue in the Power industry (Power Equipment Manufacturers), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Board of Directors of Vdeal System Limited
Vdeal System has 6 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pashupati Nath Kundu Also directs: Inductus Limited | Director | 04 Mar 2024 | 2 Years 7 Months | Current |
| Dhiraj Kochar | Managing Director | 10 Dec 2009 | 16 Years 10 Months | Current |
| Tapaswini Panda | Whole-Time Director | 12 Apr 2021 | 5 Years 6 Months | Current |
| Ullas Pradhan | Director | 12 Nov 2025 | 0 Years 11 Months | Current |
| Brahmananda Patra | Director | 13 Nov 2023 | 2 Years 11 Months | Current |
| Tapan Kumar Tarania | Additional Director | 25 May 2026 | 0 Years 4 Months | Current |
Charges & Borrowings of Vdeal System Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 May 2026 | Sidbi | ₹1.2 Cr | Open |
| 12 Nov 2024 | Yes Bank Limited | ₹12 Cr | Open |
| 05 Sep 2023 | Karnataka Bank Ltd. | ₹1.55 Cr | Satisfied |
| 05 Jan 2022 | Karnataka Bank Ltd. | ₹31.25 Lakh | Satisfied |
| 02 Aug 2021 | Karnataka Bank Ltd. | ₹50 Lakh | Satisfied |
Total charge records: 9 View all charges
Deals & Funding of Vdeal System Limited
Vdeal System Limited has 7 deals on record (4 secondary share transfers, 2 funding rounds, 1 ipo), with disclosed funding of ₹97 Lakh; the latest was in August 2024.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2024 | IPO | ₹18.08 Cr | Investors: Ipo Shareholders - Vdeal System Limited |
| Dec 2023 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: an individual |
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Nov 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Apr 2017 | Funding round | ₹88 Lakh | Investors: 3 individuals |
Full deal history
All 7 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Associated Brands with Vdeal System Limited
Vdeal System operates one associated brand: Vdeal System. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Electrical and automation solutions are provided for industrial projects. | vdealsystem.com |
Employees and EPFO Compliance at Vdeal System Limited
Employment history and EPFO contributions of people linked to Vdeal System.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
CIN History of Vdeal System Limited
Vdeal System has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L31100OR2009PLC011396, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L31100OR2009PLC011396 | Current |
| U31100OR2009PTC011396 | Previous |
| U31100OR2009PLC011396 | Previous |
Recent Activity on Vdeal System Limited
Vdeal System Limited has 12 board changes on record since 2009: 7 appointments and 5 cessations. The latest: Tapan Kumar Tarania was appointed as Additional Director on 25 May 2026.
21 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Vdeal System Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Vdeal System Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Vdeal System Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Vdeal System Limited
Vdeal System has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 21AANCS6836J1Z0 | Odisha | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Vdeal System Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Vdeal System Limited
Frequently Asked Questions about Vdeal System Limited
Vdeal System is an active public limited company based in Jatni, Odisha, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 10 December 2009 (17+ years old) and is registered under CIN L31100OR2009PLC011396.
Vdeal System reported revenue of ₹45.11 Cr for FY 2025-26 (up 34.3% YoY) based on standalone financials.
Vdeal System has 6 current directors:
- Dhiraj Kochar - Managing Director
- Tapaswini Panda - Whole-Time Director
- Pashupati Nath Kundu - Director
- Ullas Pradhan - Director
- Brahmananda Patra - Director
- Tapan Kumar Tarania - Additional Director
The GSTIN of Vdeal System is 21AANCS6836J1Z0, registered in Odisha. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Vdeal System is L31100OR2009PLC011396. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes, Vdeal System is a listed company.
Vdeal System was incorporated on 10 December 2009, making it 17+ years old. It is registered with the Registrar of Companies, Cuttack.
Vdeal System has 7 deals on record (4 secondary share transfers, 2 funding rounds, 1 ipo), with disclosed funding of ₹97 Lakh; the latest was in August 2024.
The peers of Vdeal System by revenue are Kiran Electric Company (Rajkot) Pvt Ltd, S G Control & Switchgear Private Limited, Nomax Electrical Steel Private Limited, Power Matrix Solutions Private Limited, Vaibhav Energy Saving Equipments Private Limited and 5 more, all in the Power industry (Power Equipment Manufacturers).
Tapan Kumar Tarania was appointed as Additional Director on 25 May 2026. Ullas Pradhan was appointed as Director on 12 Nov 2025. Pashupati Nath Kundu ceased to be Additional Director on 27 Mar 2024. Vdeal System has 12 board changes on record in total.
Vdeal System can be reached through the website vdealsystem.com. Its registered office is in Jatni, Odisha, India.