Fortune MNC 500 India 2026 edition
Rank#95- Total income
- ₹9,101 Cr
- Profit
- ₹475 Cr
Last year #100
Volvo Group India Private Limited - automotive in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹5,487.9 Cr
▲ 13% YoY
Net profit · FY 2025
₹379.2 Cr
Net margin 6.9%
EBITDA · FY 2025
₹667.56 Cr
EBITDA margin 12.2%
Authorised capital
₹100 Cr
Registered with MCA
Paid-up capital
₹10.5 Cr
Issued & subscribed
Open charges
₹57.79 Cr
Satisfied ₹103.84 Cr
Company age
30 yrs
Est. 1996
Directors on board
6
As per MCA filings
About Volvo Group India Private Limited
Data last updated:
Volvo Group India Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Volvo Truck Corporation. It operates in the commercial vehicles and fleet segment of the automotive sector. It was incorporated on 02 August 1996 and has been in existence for over 30 years.
Volvo Group India is ranked #95 on the Fortune MNC 500 India (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U50101KA1996PTC024176. Its GSTIN is 29AAACV6747N1ZK (Karnataka). The company holds 13 GST registrations, of which 8 are active.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹10.5 Cr. It was formerly known as Volvo Penta India Private Limited and Volvo India Private Limited. It is led by directors including Kamal Bali (Managing Director) and Niklas Valdemar Gustafsson.
Its last annual general meeting (AGM) was held on 29 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Yalachahally Village Tavarekere Post Hoskote Taluk, Bangalore, Karnataka, India – 560122.
As per the financials filed for FY 2025, the company reported a revenue of ₹5,487.9 Cr, a growth of 13% compared to the previous year. For the same year it recorded a net profit of ₹379.2 Cr (net margin 6.9%) and EBITDA of ₹667.56 Cr (EBITDA margin 12.2%). Revenue has grown at a compounded annual rate (CAGR) of 30% over three years and 18% over five years.
The company is associated with 1 brand: Volvo Group. As per MCA filings, the company has open charges of ₹57.79 Cr and satisfied charges of ₹103.84 Cr on record. Court records list 55 cases involving the company, including 33 filed by the company and 22 filed against it; 11 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹10.62 Cr; the latest was in August 2020. Its 7 peer companies in the Automobiles industry (Commercial Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles) are compared by revenue, 4 larger and 3 smaller; the largest is Ashok Leyland Limited with revenue of ₹48,894 Cr. The company has 12 MSME Form 1 returns on record between 2018 and 2024, listing 908 overdue payments to 116 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website volvogroup.com.
Company details
CIN U50101KA1996PTC024176
Registration Number 024176
Incorporation Date 02 August 1996
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Volvo Truck Corporation
Compliance Status Active Compliant
Name history
Volvo Group India has undergone 3 name changes throughout its history. The company was previously known as Volvo Penta India Private Limited, Volvo India Private Limited, and Volvo India Limited. The current legal name is Volvo Group India Private Limited.
| Company Name | Status |
|---|---|
| Volvo Group India Private Limited | Current |
| Volvo Penta India Private Limited | Previous |
| Volvo India Private Limited | Previous |
| Volvo India Limited | Previous |
CIN history
Volvo Group India has one previous CIN (Corporate Identification Number): U50101KA1998PTC024176. The current CIN is U50101KA1996PTC024176, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U50101KA1996PTC024176 | Current |
| U50101KA1998PTC024176 | Previous |
Key People
Kamal Bali Managing Director Niklas Valdemar Gustafsson Director Sofia Helena Frandberg Director Recognitions & Rankings of Volvo Group India
Contact details
Volvo Group India Private Limited's registered office is in Bangalore, Karnataka. Its website is volvogroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressYalachahally Village Tavarekere Post Hoskote Taluk, Bangalore, Karnataka, India – 560122
- IndustryAutomotive, Commercial Vehicles & Fleet
To see the full contact details of Volvo Group India Private Limited, buy the company report.
Comprehensive company report
Volvo Group India 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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Brands
Volvo Group India operates one associated brand: Volvo Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Brand of commercial vehicles | volvogroup.com |
Business activity
The main business activities of Volvo Group India are manufacturing, trade and support service to organizations. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles, wholesale trading and other support services to organizations. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles | |
| G | Trade | G1 | Wholesale Trading | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Volvo Group India Private Limited, buy the company report.
Financials of Volvo Group India Private Limited
FY 2025 filings availableVolvo Group India Private Limited reported revenue of ₹5,487.9 Cr (up 13% YoY) for FY 2025.
Revenue · FY 2025
₹5,487.9 Cr ▲ 13%
Net profit · FY 2025
₹379.2 Cr margin 6.9%
EBITDA · FY 2025
₹667.56 Cr margin 12.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 13%
3 years · compounded
▲ 30%
5 years · compounded
▲ 18%
EBITDA CAGR growth
1 year
▲ 6%
3 years · compounded
▲ 39%
5 years · compounded
▲ 16%
Revenue has grown at a compounded annual rate (CAGR) of 18% over five years, including 13% growth in the latest year. EBITDA rose 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
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| Cost of Materials Consumed | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹667.56 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹379.2 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
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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 | 12.2% | ||||
| Net Profit Margin | 6.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
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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 Volvo Group India Private Limited, buy the company report.
Board of directors of Volvo Group India Private Limited
Volvo Group India has 6 current directors and 40 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kamal Bali Also directs: Itc Hotels Limited, Volvo Financial Services (India) Private Limited, Federation of European Business in India and 1 more | Managing Director | 01 Apr 2014 | 12 Years 6 Months | Current |
| Niklas Valdemar Gustafsson | Director | 01 Apr 2014 | 12 Years 6 Months | Current |
| Sofia Helena Frandberg Also directs: Ve Commercial Vehicles Limited | Director | 16 Jun 2023 | 3 Years 4 Months | Current |
| Joseph Rajaratnam Satish Rajkumar | Director | 14 Jun 2024 | 2 Years 4 Months | Current |
| Johan Peter Herberts | Additional Director | 31 Jan 2025 | 1 Years 8 Months | Current |
| Gangadhar Somasundaram | Director | 01 May 2019 | 7 Years 5 Months | Current |
Peer comparison
Volvo Group India Private Limited is compared with the 7 companies closest to it by revenue in the Automobiles industry (Commercial Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ashok Leyland Limited | ₹48,894 Cr (FY 2025) | 6.0% | Chennai, Tamil Nadu, India | |||
| Ve Commercial Vehicles Limited | ₹23,762 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Daimler India Commercial Vehicles Private Limited | ₹10,586 Cr (FY 2025) | -12.0% | Kundrathur, Tamil Nadu, India | |||
| Force Motors Limited | ₹8,128.29 Cr (FY 2025) | 16.0% | Pune, Maharashtra, India | |||
| Volvo Group India Private Limitedthis company | ₹5,487.9 Cr (FY 2025) | ₹379.2 Cr | 6.9% | 13.0% | Bangalore, Karnataka, India | |
| Jupiter Wagons Limited | ₹4,007.64 Cr (FY 2025) | 9.0% | Jabalpur, Madhya Pradesh, India | |||
| SML Mahindra Limited | ₹2,405.05 Cr (FY 2025) | 9.0% | Nawanshahr, Punjab, India | |||
| Ashok Leyland Vehicles Limited | ₹1,674.54 Cr (FY 2018) | 48.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of Volvo Group India Private Limited, buy the company report.
Auditor
Volvo Group India Private Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2024 | 117366W/W-100018 |
Shareholding
The shareholding of Volvo Group India Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Volvo Group India Private Limited, buy the company report.
Charges & borrowings
Open charges
₹57.79 Cr
Satisfied charges
₹103.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Dec 2025 | 101207729 | Hdfc Bank Limited | ₹9.77 Lakh | Open | |
| 25 Nov 2025 | 101207793 | Hdfc Bank Limited | ₹22.41 Lakh | Open | |
| 24 Nov 2025 | 101207719 | Hdfc Bank Limited | ₹24.48 Lakh | Open | |
| 15 Nov 2025 | 101207717 | Hdfc Bank Limited | ₹44.9 Lakh | Open | |
| 31 Oct 2025 | 101186819 | Hdfc Bank Limited | ₹20.14 Lakh | Open |
To see the full charge records of Volvo Group India Private Limited, buy the company report.
Total charge records: 303 View all charges
Deals & funding
Volvo Group India Private Limited has 4 deals on record (2 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹10.62 Cr; the latest was in August 2020.
Total deals
4
Secondary share transfers
2
Funding round
1
Acquisition
1
Disclosed funding
₹10.62 Cr
Deals on record (3 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2020 | Acquisition | ₹100.5 Cr | Buyer: Ve Commercial Vehicles Limited Seller: Volvo Group India Private Limited |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Volvo Buses India Private Limited. |
| Oct 2006 | Secondary share transfer | Undisclosed | Seller: an individual |
To see the full deal history of Volvo Group India Private 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
Volvo Group India Private Limited has 55 court cases on record: 33 filed by Volvo Group India, 22 filed against it. 11 cases are pending and 44 are disposed.
Total cases
55
Filed by the company
33
Filed against the company
22
Pending
11
Disposed
44
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 35 | 9 | 6 |
| District courts | 17 | 12 | 5 |
| Supreme Court | 2 | 1 | 0 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 55)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, KARNATAKA | Writ petition | Filed by the company against Goods and Services Tax Network and 3 others | Disposed |
| High Court, TELANGANA | Writ petition | Filed against the company by M/S. Asha Automine Private Limited | Disposed |
| High Court of Karnataka | Writ petition | Filed against the company by Bangalore Mechatronics Pvt Ltd | Disposed |
| District court, Erode, Tamil Nadu | Motor accident claim | Filed against the company | Pending |
| High Court of Karnataka | Appeal | Filed against the company by The Assistant Commissioner of Central Tax | Pending |
To see the full case history of Volvo Group India 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.
Credit ratings & regulatory alerts
Volvo Group India Private Limited was last rated by Indiarating on 30 Mar 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 30 Mar 2023 |
To see the full credit ratings and regulatory alerts of Volvo Group India Private Limited, buy the company report.
MSME payment delays
Volvo Group India Private Limited has 12 MSME Form 1 returns on record between 2018 and 2024, listing 908 overdue payments to 116 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 116)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Wearcheck Laboratories India Private Limited | |||
| SL& El Co |
To see the full MSME payment records of Volvo Group India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Volvo Group India has 13 GST registrations: 8 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
13
Active
8
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACV6747N1ZK | Karnataka | Active | 01 Jul 2017 |
| 29AAACV6747N2ZJ | Karnataka | Active | 13 Mar 2025 |
| 23AAACV6747N1ZW | Madhya Pradesh | Active | 01 Jul 2017 |
| 24AAACV6747N1ZU | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Volvo Group India Private Limited, buy the company report.
Recent activity
Volvo Group India Private Limited has 47 board changes on record since 2007: 7 appointments and 40 cessations. The latest: Johan Peter Herberts was appointed as Additional Director on 31 Jan 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.10 Cr with Charge ID 101207729 was registered on 05 Dec 2025.
Charges
A charge registered on 11 Aug 2022 via Charge ID 100626697 with Hdfc Bank Limited was fully satisfied on 02 Dec 2025.
Charges
A charge registered on 27 Jul 2022 via Charge ID 100603913 with Hdfc Bank Limited was fully satisfied on 02 Dec 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.22 Cr with Charge ID 101207793 was registered on 25 Nov 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.24 Cr with Charge ID 101207719 was registered on 24 Nov 2025.
Charges
A charge with Hdfc Bank Limited of Rs. 0.12 Cr registered on 14 Feb 2022 with Charge ID 100563800 was modified on 21 Nov 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.45 Cr with Charge ID 101207717 was registered on 15 Nov 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.20 Cr with Charge ID 101186819 was registered on 31 Oct 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.15 Cr with Charge ID 101203005 was registered on 29 Oct 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.28 Cr with Charge ID 101197074 was registered on 24 Oct 2025.
Charges
A charge registered on 29 Jan 2024 via Charge ID 100925000 with Hdfc Bank Limited was fully satisfied on 24 Oct 2025.
Charges
A charge registered on 06 Jun 2022 via Charge ID 100586387 with Hdfc Bank Limited was fully satisfied on 24 Oct 2025.
359 earlier events are in the company report.
News
Frequently asked questions
Volvo Group India is an active private limited company based in Bangalore, Karnataka, India. The company works in commercial vehicles and fleet, within the automotive industry. It was incorporated on 02 August 1996 (30+ years old) and is registered under CIN U50101KA1996PTC024176.
Volvo Group India has 6 current directors:
- Kamal Bali - Managing Director
- Niklas Valdemar Gustafsson - Director
- Sofia Helena Frandberg - Director
- Joseph Rajaratnam Satish Rajkumar - Director
- Johan Peter Herberts - Additional Director
- Gangadhar Somasundaram - Director
The latest financial statements of Volvo Group India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Volvo Group India is 29AAACV6747N1ZK, registered in Karnataka. The company has 13 GST registrations in all, of which 8 are active and 5 are cancelled or inactive. Other active GSTINs include 29AAACV6747N2ZJ (Karnataka), 23AAACV6747N1ZW (Madhya Pradesh), 24AAACV6747N1ZU (Gujarat).
The CIN (Corporate Identification Number) of Volvo Group India is U50101KA1996PTC024176. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Volvo Group India has 55 court cases on record: 33 filed by the company and 22 filed against it. 11 are pending. Most are in the high courts.
Volvo Group India was incorporated on 02 August 1996, making it 30+ years old. It is registered with the Registrar of Companies, Bangalore.
Volvo Group India has 4 deals on record (2 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹10.62 Cr; the latest was in August 2020.
The peers of Volvo Group India by revenue are Ashok Leyland Limited, Ve Commercial Vehicles Limited, Daimler India Commercial Vehicles Private Limited, Force Motors Limited, Jupiter Wagons Limited and 2 more, all in the Automobiles industry (Commercial Vehicles), with the same principal business activity (motor vehicles, trailers, semi trailers and other transport vehicles).
Johan Peter Herberts was appointed as Additional Director on 31 Jan 2025. Joseph Rajaratnam Satish Rajkumar ceased to be Additional Director on 28 Aug 2024. Joseph Rajaratnam Satish Rajkumar was appointed as Director on 14 Jun 2024. Volvo Group India has 47 board changes on record in total.
Volvo Group India has 12 MSME Form 1 returns on record between 2018 and 2024, listing 908 overdue payments to 116 micro and small suppliers. The latest return was filed on 23 Apr 2024.
Volvo Group India can be reached through the website volvogroup.com. Its registered office is in Bangalore, Karnataka, India.