West Gujarat Expressway Limited
About West Gujarat Expressway Limited
Data last updated:
West Gujarat Expressway Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Il&Fs Transportation Networks Limited. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 14 March 2005 and has been in existence for over 21 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U60200MH2005PLC151958. Its GSTIN is 27AAACW5862D1ZA (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹40 Cr. It is led by directors including Rajiv Subhashchandra Dubey and Parag Chandrashekhar Phanse.
Its last annual general meeting (AGM) was held on 28 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at The Il&Fs Financial Centreplot No – C – 22 G – Bloc Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2022, the company reported a revenue of ₹100.48 Cr, a growth of 34% compared to the previous year. For the same year it recorded a net loss of ₹75.33 Cr (net margin -75%) and EBITDA of -₹5.12 Cr (EBITDA margin -5.1%). Revenue has grown at a compounded annual rate (CAGR) of 10% over three years and 13% over five years.
As per MCA filings, the company has open charges of ₹141.26 Cr and satisfied charges of ₹166.2 Cr on record. Court records list 14 cases involving the company, including 6 filed by the company and 8 filed against it; 5 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹161.26 Cr; the latest was in December 2014. Its 9 peer companies in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 4 larger and 5 smaller; the largest is Raipur Expressways Limited with revenue of ₹72.13 Cr.
The current compliance status is marked as active non-compliant by the Registrar of Companies.
Company details
Contact details
West Gujarat Expressway Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered AddressThe Il&Fs Financial Centreplot No – C – 22 G – Bloc Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of West Gujarat Expressway 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 activity of West Gujarat Expressway is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
To see the full business activity and turnover split of West Gujarat Expressway Limited, buy the company report.
Financials of West Gujarat Expressway Limited
FY 2022 filings availableWest Gujarat Expressway Limited reported revenue of ₹100.48 Cr (up 34% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 13% over five years, including 34% growth 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹100.48 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹5.12 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹75.33 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -5.1% | ||||
| Net Profit Margin | -75% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Payable Days | |||||
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To see the full financial statements and ratios of West Gujarat Expressway Limited, buy the company report.
Board of directors of West Gujarat Expressway Limited
West Gujarat Expressway has 3 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajiv Subhashchandra Dubey | Nominee Director | 19 Jan 2012 | 14 Years 9 Months | Current |
| Parag Chandrashekhar Phanse | Nominee Director | 19 Mar 2019 | 7 Years 7 Months | Current |
| Sanjay Kumar Arora | Nominee Director | 19 Mar 2019 | 7 Years 7 Months | Current |
Peer comparison
West Gujarat Expressway Limited is compared with the 9 companies closest to it by revenue in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| West Gujarat Expressway Limitedthis company | ₹100.48 Cr (FY 2022) | -₹75.33 Cr | -75% | 34.0% | Mumbai, Maharashtra, India | |
| Raipur Expressways Limited | ₹72.13 Cr (FY 2023) | 22.0% | New Delhi, Delhi, India | |||
| Jhansi-Vigakhet Tollway Private Limited | ₹72.03 Cr (FY 2025) | 4.0% | New Delhi, Delhi, India | |||
| GV Road Projects Private Limited | ₹71.85 Cr (FY 2024) | -10.0% | Hyderabad, Telangana, India | |||
| Sudhir Constructions Infraspace (Warvat Bakal-Warula Road) Private Limited | ₹71.22 Cr (FY 2024) | 70.0% | Nagpur, Maharashtra, India | |||
| Kanyakumari-Etturavattam Tollway Private Limited | ₹71.18 Cr (FY 2025) | 4.0% | New Delhi, Delhi, India | |||
| GPR Infra Projects Private Limited | ₹71.16 Cr (FY 2024) | 108.0% | Bangalore, Karnataka, India | |||
| Kashedi Parshuram Highways Private Limited | ₹70.99 Cr (FY 2025) | 11.0% | Indore, Madhya Pradesh, India | |||
| TD Toll Road Private Limited | ₹70.88 Cr (FY 2019) | 104.0% | Navi Mumbai, Maharashtra, India | |||
| Trichy Padalur Tollways Private Limited | ₹70.5 Cr (FY 2025) | 2.0% | Inam Samayapuram, Tamil Nadu, India |
To see the full peer comparison of West Gujarat Expressway Limited, buy the company report.
Auditor
West Gujarat Expressway Limited is audited by M K P S & ASSOCIATES for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M K P S & ASSOCIATES | FY 2021 | 302014E |
Shareholding
The shareholding of West Gujarat Expressway Limited is on record for 4 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of West Gujarat Expressway Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Dec 2014 | 10543561 | Idbi Trusteeship Services Limited | ₹141.26 Cr | Open | |
| 19 Oct 2005 | 90351283 | Punjab National Bank and Other | ₹166.2 Cr | Satisfied |
To see the full charge records of West Gujarat Expressway Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
West Gujarat Expressway Limited has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹161.26 Cr; the latest was in December 2014.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2014 | Debt financing | ₹141.26 Cr | Investors: L&T Infrastructure Finance Company Limited , L&T Infra Credit Limited |
| Mar 2012 | Secondary share transfer | Undisclosed | Buyer: Il&Fs Transportation Networks Limited Seller: Infrastructure Leasing & Financial Services Limited |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: Il&Fs Transportation Networks Limited Seller: Infrastructure Leasing & Financial Services Limited |
| Jun 2007 | Funding round | ₹20 Cr | Investors: Infrastructure Leasing & Financial Services Limited, Il&Fs Transportation Networks Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
West Gujarat Expressway Limited has 14 court cases on record: 6 filed by West Gujarat Expressway, 8 filed against it. 5 cases are pending and 9 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 8 | 6 | 3 |
| Supreme Court | 4 | 2 | 2 |
| District courts | 1 | 0 | 0 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 14)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1003-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters arising out of orders of Company Law Board under Section 397 & 398 of Companies Act, 1956) | Filed against the company by L and T Infrastructure Finance Company Limited Brindavan, Plot No. 177, C.S.T Road Kalina, Santacruz East , District: Mumbai , , Maharashtra and 2 others | Disposed |
| High Court | Interim or miscellaneous application | Filed against the company by Prinicipal Commissioner of Income Tax 6 Mumbai | Pending |
| Bombay High Court | Tax appeal | Filed against the company by PR. Commissioner of Income Tax-14 | Pending |
| Supreme Court | Court case (1601-Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605]) | Filed by the company against Commissioner of Income Tax - 10 | Pending |
| NCLAT, Chairperson Court | Tribunal matter | Filed by the company against individuals | Disposed |
To see the full case history of West Gujarat Expressway 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
West Gujarat Expressway Limited was last rated by Indiarating on 14 Apr 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 14 Apr 2023 |
To see the full credit ratings and regulatory alerts of West Gujarat Expressway Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for West Gujarat Expressway Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
West Gujarat Expressway has 1 associated company. This group structure data is as of FY 2021. The table lists each entity with its relationship and holding.
GST
West Gujarat Expressway has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACW5862D1ZA | Maharashtra | Active | 01 Jul 2017 |
| 24AAACW5862D1ZG | Gujarat | Active | 08 Aug 2017 |
To see the full GST registrations and return filing status of West Gujarat Expressway Limited, buy the company report.
Recent activity
West Gujarat Expressway Limited has 22 board changes on record since 2009: 3 appointments and 19 cessations. The latest: Kavita Ashok Jain ceased to be Company Secretary on 30 Mar 2022.
17 earlier events are in the company report.
Frequently asked questions
West Gujarat Expressway is an active public limited company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 14 March 2005 (21+ years old) and is registered under CIN U60200MH2005PLC151958.
West Gujarat Expressway has 3 current directors:
- Rajiv Subhashchandra Dubey - Nominee Director
- Parag Chandrashekhar Phanse - Nominee Director
- Sanjay Kumar Arora - Nominee Director
The latest financial statements of West Gujarat Expressway on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 28 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of West Gujarat Expressway is 27AAACW5862D1ZA, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 24AAACW5862D1ZG (Gujarat).
The CIN (Corporate Identification Number) of West Gujarat Expressway is U60200MH2005PLC151958. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
West Gujarat Expressway has 14 court cases on record: 6 filed by the company and 8 filed against it. 5 are pending. Most are in the high courts.
West Gujarat Expressway was incorporated on 14 March 2005, making it 21+ years old. It is registered with the Registrar of Companies, Mumbai.
West Gujarat Expressway has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹161.26 Cr; the latest was in December 2014.
The peers of West Gujarat Expressway by revenue are Raipur Expressways Limited, Jhansi-Vigakhet Tollway Private Limited, GV Road Projects Private Limited, Sudhir Constructions Infraspace (Warvat Bakal-Warula Road) Private Limited, Kanyakumari-Etturavattam Tollway Private Limited and 4 more, all in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Kavita Ashok Jain ceased to be Company Secretary on 30 Mar 2022. Harikrishna Bhavsar Ratilal ceased to be Nominee Director on 03 Jun 2019. Shruti Arora ceased to be Nominee Director on 31 May 2019. West Gujarat Expressway has 22 board changes on record in total.
The registered office of West Gujarat Expressway is at The Il&Fs Financial Centreplot No – C – 22 G – Bloc Bandra Kurla Complex Bandra East, Mumbai, Maharashtra, India – 400051.
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