India's Richest People 2018 edition · Source: Hurun India
Rank#615- Wealth
- ₹1,300 Cr
- Company
- Encube Ethicals
2017 #529
Mehul Madhusudan Shah
Active Director Managing Director DIN 00312359
Unlock full profile Investments · shareholding · contact details
Current companies 6 active board seats
Total affiliations 6 Since Sep 1995
Shareholding value •••• Premium profile
About Mehul Madhusudan Shah
Data last updated:
Mehul Madhusudan Shah is a Managing Director at Encube Ethicals Private Limited (since 1995), Managing Director at Encube Ethicals Limited (since 1995) and Director at Confira Laboratories Private Limited (since 2019), and holds 3 more current directorships. The companies operate in Pharma, Consumer Goods and Financial Services. The 5 current companies with reported revenue have a combined latest revenue of ₹2,754 Cr; the largest is Encube Ethicals Private Limited at ₹1,369 Cr (FY 2025).
Mehul Madhusudan Shah was among India's richest people in 2018 at #615.
DIN 00312359
Primary Designation Managing Director
Industry Pharma
First Appointment 07 Sep 1995
Oldest Company Age 45 yrs
Largest company Encube Ethicals Private Limited · ₹1,369 Cr (FY 2025)
Combined revenue ₹2,754 Cr across 5 companies
Recognitions & Rankings
Current companies
| Company | Designation | Appointment | Founded | Revenue | Status |
|---|---|---|---|---|---|
 Encube Ethicals Private Limited U24230MH1995PTC092485 | Managing Director | 07 Sep 1995 | 1995 | ₹1,369 Cr (FY 2025) | Active |
 Encube Ethicals Limited U24230MH1995PLC092485 | Managing Director | 07 Sep 1995 | 1995 | ₹1,369 Cr (FY 2025) | Active |
 Confira Laboratories Private Limited U24290MH2019PTC319509 | Director | 14 Jan 2019 | 2019 | ₹9.51 Cr (FY 2025) | Active |
| Relief Pharmaceuticals Private Limited U24239MH1981PTC024506 | Director | 31 Oct 1998 | 1981 | ₹4.27 Cr (FY 2022) | Active |
| Ciens Investment Advisory Services Private Limited U74110MH2000PTC124315 | Director | 25 Nov 2005 | 2000 | ₹2.47 Cr (FY 2025) | Active |
| Lakshya Partners Llp ACT-6342 | Partner | 18 Dec 2025 | 2025 | Active |
Board colleagues of Mehul Madhusudan Shah
| Name | DIN | Company | Designation |
|---|---|---|---|
| Amit Varma | 02241746 | Encube Ethicals Private Limited , Encube Ethicals Limited | Director |
| Himanshu Mahendra Gandhi | 00784178 | Encube Ethicals Private Limited , Encube Ethicals Limited and 1 more | Director |
| Jinaraja Sanjeeva Poojary | 11389350 | Encube Ethicals Private Limited , Encube Ethicals Limited | Director |
| Madhusudan Nyalchand Shah | 00314267 | Encube Ethicals Private Limited , Encube Ethicals Limited and 2 more | Director |
| Nilesh Navinchandra Maniar | 00330165 | Encube Ethicals Private Limited , Encube Ethicals Limited and 1 more | Director |
| Parineeta Shivaprasad Poonja | Encube Ethicals Private Limited , Encube Ethicals Limited | Company Secretary | |
| Niloni Mehul Shah | 05259867 | Confira Laboratories Private Limited | Managing Director |
| Niti Mehul Shah | 08330226 | Confira Laboratories Private Limited | Director |
| Harses Hemant Kampani | 08149491 | Lakshya Partners Llp | Designated Partner |
| Nisarg Bhushan Gagrani | 11137018 | Lakshya Partners Llp | Designated Partner |
| Rishi Tarun Chopra | 11397807 | Lakshya Partners Llp | Designated Partner |
Directorship timeline
Open interactive timeline →Relief Pharmaceuticals Private Limited
Confira Laboratories Private Limited
Ciens Investment Advisory Services Private Limited
Encube Ethicals Private Limited
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Shareholding and investment profile for Mehul Madhusudan Shah
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Frequently Asked Questions about Mehul Madhusudan Shah
Mehul Madhusudan Shah currently holds 6 directorships: Encube Ethicals Private Limited (Managing Director, since 07 Sep 1995, revenue ₹1,369 Cr (FY 2025)); Encube Ethicals Limited (Managing Director, since 07 Sep 1995, revenue ₹1,369 Cr (FY 2025)); Confira Laboratories Private Limited (Director, since 14 Jan 2019, revenue ₹9.51 Cr (FY 2025)); Relief Pharmaceuticals Private Limited (Director, since 31 Oct 1998, revenue ₹4.27 Cr (FY 2022)); Ciens Investment Advisory Services Private Limited (Director, since 25 Nov 2005, revenue ₹2.47 Cr (FY 2025)); and 1 more.
Mehul Madhusudan Shah was first appointed on 07 Sep 1995 as Managing Director at Encube Ethicals Private Limited. The most recent appointment on record is 18 Dec 2025 at Lakshya Partners Llp.
The 5 current companies of Mehul Madhusudan Shah that report revenue have a combined latest revenue of ₹2,754 Cr: Encube Ethicals Private Limited ₹1,369 Cr (FY 2025); Encube Ethicals Limited ₹1,369 Cr (FY 2025); Confira Laboratories Private Limited ₹9.51 Cr (FY 2025); Relief Pharmaceuticals Private Limited ₹4.27 Cr (FY 2022); Ciens Investment Advisory Services Private Limited ₹2.47 Cr (FY 2025).
The current boards of Mehul Madhusudan Shah's companies include Amit Varma (Encube Ethicals Private Limited), Himanshu Mahendra Gandhi (Encube Ethicals Private Limited), Jinaraja Sanjeeva Poojary (Encube Ethicals Private Limited), Madhusudan Nyalchand Shah (Encube Ethicals Private Limited), Nilesh Navinchandra Maniar (Encube Ethicals Private Limited), Parineeta Shivaprasad Poonja (Encube Ethicals Private Limited), among others.