Vadivarhe Speciality Chemicals Limited

Vadivarhe Speciality Chemicals Limited - pharma in Igatpuri, Maharashtra, India. FY 2026 financials & compliance.
CIN L24100MH2009PLC190516 Incorporated 23 February 2009 ROC Mumbai HQ Igatpuri, Maharashtra, India
Active Listed - NSE: VSCL Public Limited Company pharma MSME · Small
Data last updated
Market Cap
₹37.35 Cr
VSCL-SM · NSE
Share Price
₹24.50
-1.61% today
Revenue
₹45.78 Cr
FY 2025-26 · +20.8% YoY
EBITDA
₹0.76 Cr
Margin 1.7%
Net Profit
−₹1.88 Cr
FY 2025-26 · +79.5% YoY
Authorised capital
₹15 Cr
Registered with MCA
Paid-up capital
₹15 Cr
Issued & subscribed
Open charges
₹26.44 Cr
Satisfied ₹65.11 Cr

About Vadivarhe Speciality Chemicals Limited

Data last updated:

Vadivarhe Speciality Chemicals Limited is a public limited company based in Igatpuri, Maharashtra, India. It operates in the API manufacturers segment of the pharmaceuticals sector. It was incorporated on 23 February 2009 and has been in existence for over 17 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24100MH2009PLC190516. Its GSTIN is 27AACCV9569J1ZK (Maharashtra). It is a listed company as per MCA records. Its shares are listed on NSE: VSCL.

The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹15 Cr. It is led by directors including Meena Sunil Pophale (Whole-Time Director) and Ravindra Keshav Paranjpe.

Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Gat No. 204 Vadivarhe, Igatpuri, Maharashtra, India – 422403.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹45.78 Cr, a growth of 20.8% compared to the previous year. For the same year it recorded a net loss of ₹1.88 Cr (net margin -4.1%) and EBITDA of ₹76 Lakh (EBITDA margin 1.7%). Total assets are valued at ₹27.85 Cr (down 17.4% YoY).

The company has about 70 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: VSCL. As per MCA filings, the company has open charges of ₹26.44 Cr and satisfied charges of ₹65.11 Cr on record. Court records list 8 cases involving the company, including 5 filed by the company and 3 filed against it; 2 cases are pending. The company has 10 deals on record (9 market trades, 1 ipo); the latest was in October 2024. Its 7 peer companies in the Chemicals industry (API Manufacturers, Organic Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 2 smaller; the largest is G D Dyestuff Industries Limited with revenue of ₹39.05 Cr.

Vadivarhe Speciality Chemicals Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-23-0004157). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vscl.in.

Company details

CIN L24100MH2009PLC190516
Registration Number 190516
Incorporation Date 23 February 2009
ROC Mumbai
Listing Status Listed (NSE: VSCL)
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-23-0004157

CIN history

Vadivarhe Speciality Chemicals has one previous CIN (Corporate Identification Number): U24100MH2009PLC190516. The current CIN is L24100MH2009PLC190516, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L24100MH2009PLC190516Current
U24100MH2009PLC190516Previous

Recognitions & Rankings of Vadivarhe Speciality Chemicals

MSME (Udyam registered) Ministry of MSME
Category
Small (2024-25)
Udyam number
UDYAM-MH-23-0004157

Contact details

Vadivarhe Speciality Chemicals Limited's registered office is in Igatpuri, Maharashtra. Its website is vscl.in. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
  • Registered Address
    Gat No. 204 Vadivarhe, Igatpuri, Maharashtra, India – 422403
  • Industry
    Pharma, API Manufacturers

To see the full contact details of Vadivarhe Speciality Chemicals Limited, buy the company report.

Comprehensive company report
Vadivarhe Speciality Chemicals 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

Vadivarhe Speciality Chemicals operates one associated brand: VSCL. Each brand links to its own profile.

BrandDescriptionWebsite
Manufactures organic intermediates, personal care ingredients, speciality chemicals, and APIs.vscl.in

Business activity

The main business activity of Vadivarhe Speciality Chemicals is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC6Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products

To see the full business activity and turnover split of Vadivarhe Speciality Chemicals Limited, buy the company report.

Financials of Vadivarhe Speciality Chemicals Limited

FY 2025-26 filings available

Vadivarhe Speciality Chemicals Limited reported revenue of ₹45.78 Cr (up 20.8% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹45.78 Cr
+20.8% YoY
EBITDA
₹0.76 Cr
+112.6% YoY
Profit After Tax
−₹1.88 Cr
+79.5% YoY
Net Worth
−₹4.42 Cr
-59.0% YoY
Total Assets
₹27.85 Cr
-17.4% YoY
Total Debt
₹31.77 Cr
-11.8% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue45.7837.9140.0843.6821.4526.4728.58
Revenue growth+20.8%-5.4%-8.2%+103.6%-19.0%-7.4%-
EBITDA0.76(6.02)4.573.45(6.80)(0.54)(9.23)
EBITDA margin+1.7%-15.9%+11.4%+7.9%-31.7%-2.0%-32.3%
Profit before tax(1.63)(9.26)1.491.15(9.61)(2.59)(11.97)
Net profit(1.88)(9.18)0.060.79(9.86)(3.51)(9.95)
Net profit margin-4.1%-24.2%+0.2%+1.8%-46.0%-13.3%-34.8%
EPS (₹)(1.28)(7.25)0.050.90(7.52)(2.16)(7.70)
Balance sheet
Total assets27.8533.7233.1333.7830.3738.9337.99
Net worth(4.42)(2.78)6.496.425.2814.8917.65
Total debt31.7736.0326.1826.9424.4223.4519.67
Cash & bank0.690.570.520.810.800.980.66
Net working capital6.2510.909.537.523.0210.707.69
Cash flow
Cash from operations6.36(7.15)2.26(0.35)1.24(0.28)4.10
Cash from investing(0.63)(1.32)(0.51)(0.69)(0.82)0.02(1.68)
Cash from financing(5.61)8.53(2.04)1.05(0.60)0.58(2.34)
ParticularsMar 2022Dec 2021Sep 2021Jun 2021Mar 2021Dec 2020Sep 2020Jun 2020
Revenue5.925.715.594.238.244.376.497.37
Revenue growth (YoY)-28.2%+30.7%-13.9%-42.6%+17.2%---
Other income0.040.300.290.040.110.070.890.01
Total expenses7.888.097.095.308.164.616.977.35
EBITDA(1.96)(2.38)(1.50)(1.07)0.08(0.24)(0.48)0.02
EBITDA margin-33.1%-41.7%-26.8%-25.3%+1.0%-5.5%-7.4%+0.3%
Depreciation0.440.450.460.450.450.460.460.44
Interest0.340.360.480.380.340.300.290.30
Profit before tax(2.70)(2.89)(2.15)(1.86)(0.60)(0.93)(0.34)(0.71)
Tax0.000.000.000.000.000.000.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
ParticularsMar 2022Dec 2021Sep 2021Jun 2021Mar 2021Dec 2020Sep 2020Jun 2020
Revenue5.925.715.594.238.244.376.497.37
Revenue growth (YoY)-28.2%+30.7%-13.9%-42.6%+17.2%---
Other income0.040.300.290.040.110.070.890.01
Total expenses7.888.097.095.308.164.616.977.35
EBITDA(1.96)(2.38)(1.50)(1.07)0.08(0.24)(0.48)0.02
EBITDA margin-33.1%-41.7%-26.8%-25.3%+1.0%-5.5%-7.4%+0.3%
Depreciation0.440.450.460.450.450.460.460.44
Interest0.340.360.480.380.340.300.290.30
Profit before tax(2.70)(2.89)(2.15)(1.86)(0.60)(0.93)(0.34)(0.71)
Tax0.000.000.000.000.000.000.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue45.7837.9140.0843.6821.4526.4728.58
Revenue growth+20.8%-5.4%-8.2%+103.6%-19.0%-7.4%-
Other income0.950.330.491.100.671.080.38
Total expenses45.0243.9335.5140.2328.2527.0137.81
Employee cost0.720.700.690.620.660.460.75
EBITDA0.76(6.02)4.573.45(6.80)(0.54)(9.23)
EBITDA margin+1.7%-15.9%+11.4%+7.9%-31.7%-2.0%-32.3%
Depreciation1.851.851.741.791.791.811.75
Interest1.491.721.831.611.691.321.37
Profit before tax(1.63)(9.26)1.491.15(9.61)(2.59)(11.97)
Tax0.000.001.450.000.000.17(2.15)
Net profit(1.88)(9.18)0.060.79(9.86)(3.51)(9.95)
Net profit margin-4.1%-24.2%+0.2%+1.8%-46.0%-13.3%-34.8%
EPS (₹)(1.28)(7.25)0.050.90(7.52)(2.16)(7.70)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital12.7812.7812.7812.7812.7812.7812.78
Reserves & surplus(17.20)(15.56)(6.29)(6.36)(7.50)2.114.87
Shareholders' funds (net worth)(4.42)(2.78)6.496.425.2814.8917.65
Secured loans17.6918.6211.338.4510.5615.5515.85
Unsecured loans14.0817.4114.8518.4913.867.903.82
Total debt31.7736.0326.1826.9424.4223.4519.67
Total liabilities27.8533.7233.1333.7830.3738.9337.99
Assets
Gross block43.6343.4241.2341.3940.5740.4837.90
Net block21.0722.4321.5923.3724.3225.9825.20
Capital work in progress0.190.081.560.991.090.332.81
Investments0.050.050.050.050.050.050.05
Inventories7.949.728.588.576.823.346.83
Sundry debtors8.118.264.945.772.029.118.17
Cash & bank balances0.690.570.520.810.800.980.66
Loans & advances0.431.353.975.034.695.525.36
Total current assets17.1719.9018.0120.1814.3318.9521.02
Total current liabilities10.929.008.4812.6611.318.2513.33
Net working capital6.2510.909.537.523.0210.707.69
Total assets27.8533.7233.1333.7830.3738.9337.99
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.570.520.810.800.980.660.58
Net cash from operating activities6.36(7.15)2.26(0.35)1.24(0.28)4.10
Net cash from investing activities(0.63)(1.32)(0.51)(0.69)(0.82)0.02(1.68)
Net cash from financing activities(5.61)8.53(2.04)1.05(0.60)0.58(2.34)
Net change in cash0.120.05(0.29)0.00(0.18)0.320.08
Closing cash0.690.570.520.810.800.980.66
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+20.8%-5.4%-8.2%+103.6%-19.0%-7.4%-
EBITDA growth+112.6%-231.7%+32.5%+150.7%-1159.3%+94.2%-
PBT growth+82.4%-+29.6%+9998.0%-271.0%+78.4%-
Net income growth+79.5%--92.4%+108.0%-180.9%+64.7%-
Revenue CAGR (3Y)+1.6%+20.9%+14.8%+15.2%-12.8%+1.2%-6.6%
EBITDA CAGR (3Y)-39.6%-4.0%-----
Profitability & leverage
Net income margin-3.6%-24.4%+0.1%+2.6%-44.8%-10.4%-34.4%
Return on capital employed0.0%0.0%+7.3%+6.3%0.0%0.0%0.0%
Return on net worth0.0%0.0%+0.3%+6.6%0.0%0.0%0.0%
Debt / equity0.0016.774.114.392.371.330.90
Long-term debt / equity0.0011.242.722.751.510.760.51
Interest cover-136.70-21.8664.6696.99-19.67-56.17-12.48
Efficiency & per share
Fixed asset turnover1.050.900.971.070.530.680.76
Inventory turnover5.184.144.675.684.225.214.26
Debtors turnover5.595.747.4811.213.853.062.74
EPS (₹)(1.28)(7.25)0.050.90(7.52)(2.16)(7.70)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)(3.45)(2.17)5.085.034.1311.6513.81

To see the full year-wise statements and ratios of Vadivarhe Speciality Chemicals Limited, buy the company report.

Board of directors of Vadivarhe Speciality Chemicals Limited

Vadivarhe Speciality Chemicals has 5 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Meena Sunil PophaleWhole-Time Director23 Feb 200917 Years 8 MonthsCurrent
Ravindra Keshav ParanjpeDirector02 May 20179 Years 5 MonthsCurrent
Prasanna Prabhakar RegeDirector02 May 20179 Years 5 MonthsCurrent
Uttara Adwait KherDirector02 May 20179 Years 5 MonthsCurrent
Sunil Haripant PophaleDirector23 Feb 200917 Years 8 MonthsCurrent

Peer comparison

Vadivarhe Speciality Chemicals Limited is compared with the 7 companies closest to it by revenue in the Chemicals industry (API Manufacturers, Organic Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Vadivarhe Speciality Chemicals Limitedthis company₹45.78 Cr (FY 2026)-₹1.88 Cr-4.1%20.8%70Igatpuri, Maharashtra, India
G D Dyestuff Industries Limited₹39.05 Cr (FY 2024)-59.0%New Delhi, Delhi, India
Sujata Nutri-Pharma Private Limited₹39.05 Cr (FY 2025)5.0%Vadodara, Gujarat, India
Nebula Healthcare Limited₹38.59 Cr (FY 2025)4.0%Ahmedabad, Gujarat, India
Eiko Lifesciences Limited₹38.38 Cr (FY 2025)37.0%Thane, Maharashtra, India
Almon Healthcare Private Limited₹38.26 Cr (FY 2025)58.0%Ahmedabad, Gujarat, India
Ad-Pharmachem Private Limited₹37.8 Cr (FY 2024)-15.0%Aurangabad, Maharashtra, India
Ceyone Life Sciences Private Limited₹37.68 Cr (FY 2025)63.0%Anakapalle, Andhra Pradesh, India

To see the full peer comparison of Vadivarhe Speciality Chemicals Limited, buy the company report.

Auditor

Vadivarhe Speciality Chemicals Limited is audited by BHALCHANDRA D KARVE & ASSOCIATES for the financial year 2024.

Auditor firmFinancial yearFirm registration number
BHALCHANDRA D KARVE & ASSOCIATESFY 2024135281W

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 71.70%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 28.30%.

Promoters: 71.70%Retail & Others: 28.30%
Sep 2026
QUARTER
71.70% Promoters
28.30% Retail & Others
Promoter holding - history
Now 71.70% · Sep 2026High 71.70% · Sep 2026Low 66.80% · Dec 2025
65%67%69%71%73%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 66.80%Mar 2026: 66.80%Jun 2026: 66.80%Sep 2026: 71.70%66.80%71.70%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters71.70%66.80%66.80%66.80%
Public28.30%33.20%33.20%33.20%

Charges & borrowings

Open charges
₹26.44 Cr
Satisfied charges
₹65.11 Cr
Breakdown by lending institutions
Others₹26.08 Cr
Bank of India₹0.36 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
16 May 2026101312251Others₹2.23 CrOpen
12 Aug 2024100972938Others₹23.85 CrOpen
29 Apr 2024100911264Bank of India₹30 LakhOpen
02 Apr 2024100896391Bank of India₹6 LakhOpen
27 Feb 2025101079752Others₹4 CrSatisfied

To see the full charge records of Vadivarhe Speciality Chemicals Limited, buy the company report.

Total charge records: 26 View all charges

Deals & funding

Vadivarhe Speciality Chemicals Limited has 10 deals on record (9 market trades, 1 ipo); the latest was in October 2024.

Total deals
10
Market trades
9
IPO
1

Deals on record (5 of 10)

WhenDealAmountParties
Oct 2024Market trade₹74.3 LakhBuyer: an individual
Seller: an individual
Sep 2024Market trade₹2.01 CrBuyer: an individual
Seller: an individual
Sep 2024Market trade₹3.13 CrBuyer: NNM Securities Private Limited , 2 individuals
Seller: 3 individuals
Mar 2023Market trade₹47.1 LakhSeller: Hem Finlease Pvt Ltd
Mar 2019Market trade₹48.6 LakhBuyer: an individual
Seller: Astute Investment Management Private Limited

To see the full deal history of Vadivarhe Speciality Chemicals Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Vadivarhe Speciality Chemicals Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

Employees & EPFO

Vadivarhe Speciality Chemicals Limited has a workforce of 70 employees on its EPFO records as of Apr 02, 2025, across 1 active EPFO establishment.

Employee count
70
Active EPFO establishments
1
Employee growth
2.94%

GST

Vadivarhe Speciality Chemicals has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
27AACCV9569J1ZKMaharashtraActive01 Jul 2017

To see the full GST registrations and return filing status of Vadivarhe Speciality Chemicals Limited, buy the company report.

Recent activity

Vadivarhe Speciality Chemicals Limited has 31 board changes on record since 2009: 18 appointments and 13 cessations. The latest: Anil Ganpat Suryavanshi ceased to be Whole-Time Director on 09 Jun 2025.

Charges
A charge with Others amounted to Rs. 2.23 Cr with Charge ID 101312251 was registered on 16 May 2026.
Filing
Vadivarhe Speciality Chemicals Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai Ii.
Charges
A charge registered on 27 Feb 2025 via Charge ID 101079752 with Others was fully satisfied on 23 Mar 2026.
Charges
A charge with Others of Rs. 23.85 Cr registered on 12 Aug 2024 with Charge ID 100972938 was modified on 09 Mar 2026.
AGM
Vadivarhe Speciality Chemicals Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Ceased
Anil Ganpat Suryavanshi ceased to be Whole-Time Director.
Ceased
Susheel Koul ceased to be CEO.
Charges
A charge with Others amounted to Rs. 4.00 Cr with Charge ID 101079752 was registered on 27 Feb 2025.
Charges
A charge registered on 26 Jul 2023 via Charge ID 100792466 with Bank Of India was fully satisfied on 20 Jan 2025.
Charges
A charge registered on 26 Jul 2023 via Charge ID 100792467 with Bank Of India was fully satisfied on 20 Jan 2025.
Charges
A charge registered on 26 Jul 2023 via Charge ID 100792458 with Bank Of India was fully satisfied on 24 Oct 2024.
Charges
A charge registered on 26 Jul 2023 via Charge ID 100792461 with Bank Of India was fully satisfied on 24 Oct 2024.

79 earlier events are in the company report.

Frequently asked questions

Vadivarhe Speciality Chemicals is an active public limited company based in Igatpuri, Maharashtra, India. The company works in api manufacturers, within the pharma industry. It was incorporated on 23 February 2009 (17+ years old) and is registered under CIN L24100MH2009PLC190516. Listed on NSE: VSCL.

Vadivarhe Speciality Chemicals reported revenue of ₹45.78 Cr for FY 2025-26 (up 20.8% YoY) based on standalone financials.

Vadivarhe Speciality Chemicals has 5 current directors:

The latest financial statements of Vadivarhe Speciality Chemicals on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Vadivarhe Speciality Chemicals is 27AACCV9569J1ZK, registered in Maharashtra.

The CIN (Corporate Identification Number) of Vadivarhe Speciality Chemicals is L24100MH2009PLC190516. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Vadivarhe Speciality Chemicals is a listed company as per MCA records. Its shares are listed on NSE (symbol: VSCL).

Vadivarhe Speciality Chemicals has 8 court cases on record: 5 filed by the company and 3 filed against it. 2 are pending. Most are in the district courts.

Vadivarhe Speciality Chemicals was incorporated on 23 February 2009, making it 17+ years old. It is registered with the Registrar of Companies, Mumbai.

Vadivarhe Speciality Chemicals has 10 deals on record (9 market trades, 1 ipo); the latest was in October 2024.

The peers of Vadivarhe Speciality Chemicals by revenue are G D Dyestuff Industries Limited, Sujata Nutri-Pharma Private Limited, Nebula Healthcare Limited, Eiko Lifesciences Limited, Almon Healthcare Private Limited and 2 more, all in the Chemicals industry (API Manufacturers, Organic Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).