About VP Sugars Limited
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VP Sugars Limited is a public limited company based in Pune, Maharashtra, India. It operates in the sugar processing segment of the agriculture sector. It was incorporated on 19 February 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U15422PN2015PLC154088. Its GSTIN is 27AAFCG9017M1Z7 (Maharashtra).
The company has an authorised share capital of ₹50 Cr and a paid-up capital of ₹27.5 Cr. It was formerly known as G.M Sugars Limited and Gokul Mauli Sugars Limited. It is led by directors including Rakesh Subhash Salwe (Managing Director) and Burhanuddin Ali Husain Maksi Wala.
Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Mauli Group 4th Floor Fortune Plaza Thube Park, Pune, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹307.02 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net profit of ₹7.88 Cr (net margin 2.6%) and EBITDA of ₹49.09 Cr (EBITDA margin 16%). Revenue has grown at a compounded annual rate (CAGR) of 51% over three years and 116% over five years.
The company has about 314 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹244.91 Cr and satisfied charges of ₹234.68 Cr on record. Court records list 88 cases involving the company, including 28 filed by the company and 60 filed against it; 51 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gokulmauli.com.
Company details
Name history
VP Sugars has undergone 2 name changes throughout its history. The company was previously known as G.M Sugars Limited, and Gokul Mauli Sugars Limited. The current legal name is Vp Sugars Limited.
| Company Name | Status |
|---|---|
| VP Sugars Limited | Current |
| G.M Sugars Limited | Previous |
| Gokul Mauli Sugars Limited | Previous |
Contact details
VP Sugars Limited's registered office is in Pune, Maharashtra. Its website is gokulmauli.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressMauli Group 4th Floor Fortune Plaza Thube Park Near Sancheti Hospital Shiv, Ajinagar, Pune, Maharashtra, India – 411005
- IndustryAgriculture, Sugar Processing
To see the full contact details of VP Sugars Limited, 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
Business activity
The main business activities of VP Sugars are manufacturing and electricity, gas, steam and air condition supply. In detail, this covers food, beverages and tobacco products, other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities and electric power generation, transmission and distribution. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products | |
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of VP Sugars Limited, buy the company report.
Financials of VP Sugars Limited
FY 2023 filings availableVP Sugars Limited reported revenue of ₹307.02 Cr (up 8% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 116% over five years, including 8% growth in the latest year. EBITDA rose 12% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹307.02 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹49.09 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹7.88 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 16% | ||||
| Net Profit Margin | 2.6% | ||||
| 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 VP Sugars Limited, buy the company report.
Board of directors of VP Sugars Limited
VP Sugars has 3 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rakesh Subhash Salwe Also directs: Onkar Sugar Corporations Private Limited | Managing Director | 26 Dec 2023 | 2 Years 9 Months | Current |
| Burhanuddin Ali Husain Maksi Wala | Director | 31 Dec 2020 | 5 Years 9 Months | Current |
| Ashish Hanmant Awatade | Additional Director | 21 Apr 2025 | 1 Years 6 Months | Current |
Peer comparison
VP Sugars Limited is compared with the 8 companies closest to it by revenue in the Agriculture industry (Sugar), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Parag Agro Foods and Allied Products Private Limited | ₹324.85 Cr (FY 2025) | 21.0% | Mumbai, Maharashtra, India | |||
| Vitthal Corporation Limited | ₹324.62 Cr (FY 2023) | -27.0% | Pune, Maharashtra, India | |||
| Venkateshkrupa Sugar Mills Limited | ₹317.71 Cr (FY 2023) | -8.0% | Pune, Maharashtra, India | |||
| Lokmangal Agro Industries Limited | ₹314.29 Cr (FY 2022) | 43.0% | Solapur, Maharashtra, India | |||
| Harsha Sugars Limited | ₹307.9 Cr (FY 2025) | 5.0% | Belgaum, Karnataka, India | |||
| VP Sugars Limitedthis company | ₹307.02 Cr (FY 2023) | ₹7.88 Cr | 2.6% | 8.0% | 314 | Pune, Maharashtra, India |
| Dwarkadhish Sakhar Karkhana Limited | ₹301.9 Cr (FY 2025) | 1.0% | Nashik, Maharashtra, India | |||
| Mahakaushal Sugar and Power Industries Limited | ₹300.45 Cr (FY 2025) | 26.0% | Bhopal, Madhya Pradesh, India | |||
| Baliraja Sakhar Karkhana Limited | ₹298.15 Cr (FY 2025) | -25.0% | Pune, Maharashtra, India |
To see the full peer comparison of VP Sugars Limited, buy the company report.
Auditor
VP Sugars Limited is audited by SACHIN O. BAHETI & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SACHIN O. BAHETI & CO | FY 2023 | 127912W |
Shareholding
The shareholding of VP Sugars 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 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of VP Sugars Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Oct 2023 | 100808308 | Others | ₹20 Cr | Open | |
| 30 Apr 2022 | 100573541 | Others | ₹15 Cr | Open | |
| 12 Jul 2021 | 100475231 | Others | ₹80 Cr | Open | |
| 25 Jan 2021 | 100427523 | Others | ₹4.95 Cr | Open | |
| 25 Jan 2021 | 100427528 | Others | ₹2.3 Cr | Open |
To see the full charge records of VP Sugars Limited, buy the company report.
Total charge records: 10 View all charges
Legal cases
VP Sugars Limited has 88 court cases on record: 28 filed by VP Sugars, 60 filed against it. 51 cases are pending and 37 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 84 | 57 | 50 |
| High courts | 4 | 3 | 1 |
Cases on record (5 of 88)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Central, Delhi | Commercial suit | Filed against the company by Prem Color Chem Pvt. Ltd. | Disposed |
| Bombay High Court | Writ petition | Filed against the company | Pending |
| District court, Latur, Maharashtra | Civil suit | Filed by the company against an individual | Pending |
| District court, Beed, Maharashtra | Arbitration matter | Filed against the company by Lokmangal Multistate Co-Operative Society Ltd. Solapur | Pending |
| District court, Beed, Maharashtra | Arbitration matter | Filed against the company by Lokmangal Multistate Co-Opp. Society Ltd.Solapur Through Shewale Sandip Ashok | Pending |
To see the full case history of VP Sugars 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
VP Sugars Limited has 4 MSME Form 1 returns on record for the period ending Sep 2023, listing 240 overdue payments to 24 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 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of VP Sugars Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
VP Sugars Limited has a workforce of 314 employees on its EPFO records as of Mar 30, 2024, across 1 active EPFO establishment.
GST
VP Sugars has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCG9017M1Z7 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of VP Sugars Limited, buy the company report.
Recent activity
VP Sugars Limited has 16 board changes on record since 2017: 3 appointments and 13 cessations. The latest: Ashish Hanmant Awatade was appointed as Additional Director on 21 Apr 2025.
23 earlier events are in the company report.
Frequently asked questions
VP Sugars is an active public limited company based in Pune, Maharashtra, India. The company works in sugar processing, within the agriculture industry. It was incorporated on 19 February 2015 (11+ years old) and is registered under CIN U15422PN2015PLC154088.
VP Sugars has 3 current directors:
- Rakesh Subhash Salwe - Managing Director
- Burhanuddin Ali Husain Maksi Wala - Director
- Ashish Hanmant Awatade - Additional Director
The latest financial statements of VP Sugars on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from 2015 are in the company report.
The GSTIN of VP Sugars is 27AAFCG9017M1Z7, registered in Maharashtra.
The CIN (Corporate Identification Number) of VP Sugars is U15422PN2015PLC154088. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
VP Sugars has 88 court cases on record: 28 filed by the company and 60 filed against it. 51 are pending. Most are in the district courts.
VP Sugars was incorporated on 19 February 2015, making it 11+ years old. It is registered with the Registrar of Companies, Pune.
The peers of VP Sugars by revenue are Parag Agro Foods and Allied Products Private Limited, Vitthal Corporation Limited, Venkateshkrupa Sugar Mills Limited, Lokmangal Agro Industries Limited, Harsha Sugars Limited and 3 more, all in the Agriculture industry (Sugar), with the same principal business activity (food, beverages and tobacco products).
Ashish Hanmant Awatade was appointed as Additional Director on 21 Apr 2025. Omraje Baburao Botre ceased to be Director on 21 Apr 2025. Chandrakala Vyankatrao Patil ceased to be Director on 06 Feb 2024. VP Sugars has 16 board changes on record in total.
VP Sugars has 4 MSME Form 1 returns on record for the period ending Sep 2023, listing 240 overdue payments to 24 micro and small suppliers. The latest return was filed on 04 Jan 2024.
VP Sugars can be reached through the website gokulmauli.com. Its registered office is in Pune, Maharashtra, India.
The registered office of VP Sugars is at Mauli Group 4th Floor Fortune Plaza Thube Park Near Sancheti Hospital Shiv, Ajinagar, Pune, Maharashtra, India – 411005.