MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-PB-12-0011531
Vishal Cycles Pvt Ltd - automotive in Punjab, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹123.59 Cr
▼ 19% YoY
Net profit · FY 2025
₹97.38 Lakh
Net margin 0.8%
EBITDA · FY 2025
₹7.66 Cr
EBITDA margin 6.2%
Authorised capital
₹1.25 Cr
Registered with MCA
Paid-up capital
₹1 Cr
Issued & subscribed
Open charges
₹80.84 Cr
Satisfied ₹9.11 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
87
Provident fund records
About Vishal Cycles Pvt Ltd
Data last updated:
Vishal Cycles Pvt Ltd is a private limited company based in Punjab, India. It operates in the bicycle mfg and retail segment of the automotive sector. It was incorporated on 24 March 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U35921PB1993PTC013160. Its GSTIN is 03AAACV5453H1ZI (Punjab). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹1.25 Cr and a paid-up capital of ₹1 Cr. It is led by directors Sanjay Mahindru and Sanjeev Mahindru.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at E 113 Focal Point Ludhiana, Punjab, India.
As per the financials filed for FY 2025, the company reported a revenue of ₹123.59 Cr, a decline of 19% compared to the previous year. For the same year it recorded a net profit of ₹97.38 Lakh (net margin 0.8%) and EBITDA of ₹7.66 Cr (EBITDA margin 6.2%). Revenue has declined at a compounded annual rate (CAGR) of 8% over three years and 11% over five years.
The company has about 87 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹80.84 Cr and satisfied charges of ₹9.11 Cr on record. Court records list 55 cases involving the company, including 45 filed by the company and 11 filed against it; 13 cases are pending. The company has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2020.
Vishal Cycles Pvt Ltd is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-PB-12-0011531). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vishalcycles.com.
Company details
CIN U35921PB1993PTC013160
Registration Number 013160
Incorporation Date 24 March 1993
ROC Chandigarh
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-PB-12-0011531
Recognitions & Rankings of Vishal Cycles
Contact details
Vishal Cycles Pvt Ltd's registered office is in Punjab. Its website is vishalcycles.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressE 113 Focal Point Ludhiana, Punjab, India
- IndustryAutomotive, Bicycle Mfg & Retail
To see the full contact details of Vishal Cycles Pvt Ltd, buy the company report.
Comprehensive company report
Vishal Cycles Pvt Ltd - 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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Secure checkout · GST invoice included
Business activity
The main business activity of Vishal Cycles 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 Vishal Cycles Pvt Ltd, buy the company report.
Financials of Vishal Cycles Pvt Ltd
FY 2025 filings availableVishal Cycles Pvt Ltd reported revenue of ₹123.59 Cr (down 19% YoY) for FY 2025.
Revenue · FY 2025
₹123.59 Cr ▼ 19%
Net profit · FY 2025
₹97.38 Lakh margin 0.8%
EBITDA · FY 2025
₹7.66 Cr margin 6.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 19%
3 years · compounded
▼ 8%
5 years · compounded
▼ 11%
EBITDA CAGR growth
1 year
▼ 6%
3 years · compounded
▲ 1%
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 19% fall in the latest year. EBITDA fell 6% 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 |
|---|---|---|---|---|---|
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹7.66 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹97.38 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 6.2% | ||||
| Net Profit Margin | 0.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| 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 Vishal Cycles Pvt Ltd, buy the company report.
Board of directors of Vishal Cycles Pvt Ltd
Vishal Cycles has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanjay Mahindru Also directs: Ceda Greens Limited, Vishal Udyog International Ltd | Director | 10 Jan 2013 | 13 Years 9 Months | Current |
| Sanjeev Mahindru Also directs: Ceda Greens Limited | Director | 24 Mar 1993 | 33 Years 7 Months | Current |
Auditor
Vishal Cycles Pvt Ltd is audited by RAJ MITTAL & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAJ MITTAL & ASSOCIATES | FY 2023 | 012468N |
Shareholding
The shareholding of Vishal Cycles Pvt Ltd 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 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Vishal Cycles Pvt Ltd, buy the company report.
Charges & borrowings
Open charges
₹80.84 Cr
Satisfied charges
₹9.11 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Jul 2025 | 101135977 | Hdfc Bank Limited | ₹32.69 Lakh | Open | |
| 16 Aug 2024 | 100966944 | Hdfc Bank Limited | ₹10 Cr | Open | |
| 20 Jul 2022 | 100648928 | Hdfc Bank Limited | ₹25 Lakh | Open | |
| 19 May 2022 | 100594479 | Hdfc Bank Limited | ₹25 Lakh | Open | |
| 09 Oct 2020 | 100385080 | Axis Bank Limited | ₹22 Lakh | Open |
To see the full charge records of Vishal Cycles Pvt Ltd, buy the company report.
Total charge records: 15 View all charges
Deals & funding
Vishal Cycles Pvt Ltd has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2020.
Total deals
4
Secondary share transfers
3
Funding round
1
Disclosed funding
₹3 Cr
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Nov 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2015 | Funding round | ₹3 Cr | Investors: Ank Crediup Private Limited |
| Jan 2014 | Secondary share transfer | Undisclosed | Buyer: Sanjay Mahindru Huf, 3 individuals Seller: 4 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Vishal Cycles Pvt Ltd has 55 court cases on record: 45 filed by Vishal Cycles, 11 filed against it. 13 cases are pending and 42 are disposed.
Total cases
55
Filed by the company
45
Filed against the company
11
Pending
13
Disposed
42
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 46 | 5 | 12 |
| High courts | 8 | 5 | 1 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 55)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Punjab and Haryana | Revision petition | Filed against the company by Gujarat Rural Industries Marketing Corporation Limited | Pending |
| District court, Ludhiana, Punjab | Civil miscellaneous application | Filed by the company against Gujarat Rural Industries Marketing Corporation Ltd | Pending |
| High Court of Punjab and Haryana | Revision petition | Filed against the company by Gujarat Rural Industries Marketing Corporation Limited | Disposed |
| High Court of Punjab and Haryana | Revision petition | Filed against the company by Vishal Cycles Pvt Ltd and 1 other | Disposed |
| High Court of Punjab and Haryana | Revision petition | Filed by the company against Vishal Cycles Pvt. Ltd. and Another | Disposed |
To see the full case history of Vishal Cycles Pvt 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 Vishal Cycles Pvt Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Vishal Cycles Pvt Ltd has a workforce of 87 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
Employee count
87
Active EPFO establishments
1
Employee growth
-13%
GST
Vishal Cycles has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AAACV5453H1ZI | Punjab | Active | 01 Jul 2017 |
| 22AAACV5453H1ZI | Chattisgarh | Active | 01 Sep 2020 |
To see the full GST registrations and return filing status of Vishal Cycles Pvt Ltd, buy the company report.
Recent activity
Vishal Cycles Pvt Ltd has 4 board changes on record since 1993: 2 appointments and 2 cessations. The latest: Sanjay Mahindru ceased to be Additional Director on 30 Sep 2017.
AGM
Vishal Cycles Pvt Ltd last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.33 Cr with Charge ID 101135977 was registered on 21 Jul 2025.
Filing
Vishal Cycles Pvt Ltd has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Chandigarh.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 10.00 Cr with Charge ID 100966944 was registered on 16 Aug 2024.
Charges
A charge with Hdfc Bank Limited of Rs. 69.50 Cr registered on 26 Feb 2011 with Charge ID 10280400 was modified on 22 Sep 2022.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.25 Cr with Charge ID 100648928 was registered on 20 Jul 2022.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.25 Cr with Charge ID 100594479 was registered on 19 May 2022.
Charges
A charge with Axis Bank Limited amounted to Rs. 0.22 Cr with Charge ID 100385080 was registered on 09 Oct 2020.
Charges
A charge with Axis Bank Limited amounted to Rs. 0.30 Cr with Charge ID 100353075 was registered on 11 Mar 2020.
Ceased
Sanjay Mahindru ceased to be Additional Director.
Ceased
Jyoti Mahindru ceased to be Director.
Appointed
Sanjay Mahindru was appointed as Director.
26 earlier events are in the company report.
Frequently asked questions
Vishal Cycles is an active private limited company based in Punjab, India. The company works in bicycle mfg and retail, within the automotive industry. It was incorporated on 24 March 1993 (33+ years old) and is registered under CIN U35921PB1993PTC013160.
Vishal Cycles has 2 current directors:
- Sanjay Mahindru - Director
- Sanjeev Mahindru - Director
The latest financial statements of Vishal Cycles on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Vishal Cycles is 03AAACV5453H1ZI, registered in Punjab. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 22AAACV5453H1ZI (Chattisgarh).
The CIN (Corporate Identification Number) of Vishal Cycles is U35921PB1993PTC013160. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Vishal Cycles has 55 court cases on record: 45 filed by the company and 11 filed against it. 13 are pending. Most are in the district courts.
Vishal Cycles was incorporated on 24 March 1993, making it 33+ years old. It is registered with the Registrar of Companies, Chandigarh.
Vishal Cycles has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹3 Cr; the latest was in December 2020.
Sanjay Mahindru ceased to be Additional Director on 30 Sep 2017. Jyoti Mahindru ceased to be Director on 06 Jan 2014. Sanjay Mahindru was appointed as Director on 10 Jan 2013. Vishal Cycles has 4 board changes on record in total.
Yes, Vishal Cycles is registered as a medium enterprise under Udyam registration (number: UDYAM-PB-12-0011531).