Promoter holding
64.27%
AF
Aditya Forge Limited - Due diligence report
A 360° intelligence report on Aditya Forge: trust score, financial health, credit view, compliance, directors, growth and distress signals -…
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Aditya Forge — 360° Intelligence Report
Generated from MCA filings & public records54/100
Trust Score
Moderate
Aditya Forge is assessed as Moderate with a Trust Score of 54/100. Aditya Forge is an active public limited indian non-government company incorporated in 1992, operating in the Machinery and Equipment sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and moderate financial risk profile.
Report generated on 17 Jul 2026 from the latest processed filings. Aditya Forge Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
54/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
40/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
55/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
35/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
90/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
60/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 55/100 Moderate
- Liabilities ≈ 38% EBITDA - stretched.
- No open charges - unencumbered balance sheet.
- Profitable - internal accruals available.
Charges position: 0 open (-) · 4 satisfied (6.50 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| The Madhavpura Mercantile Co. Op. Bank Ltd. | 4 | 48.0 cr |
Compliance Score: 40/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: SEBI, BSE, NSDL.
- Litigation present in 3 court forum(s).
- 1 auditor resignation(s) filed - latest: HARSHA NIKHILCHANDA BHATT on 2022-12-01.
- 1 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 35/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| YOGESHKUMAR SUMANLAL PUJARA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NITIN RASIKLAL PAREKH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RUTA HARESHKUMAR PARIKH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Kiran Bhartabhai Mistri | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Heera Lal Kumhar | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Priyanka Bakhtyarpuri | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 6 directors on the board.
- RUTA HARESHKUMAR PARIKH has DIN status "Disqualified by RoC u/s 164(2)".
- 6 director exits in 3 years - high churn.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2023 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
-
Promoters hold the largest single block of equity - exact percentages are part of the full report.
Key managerial personnel: YOGESHKUMAR SUMANLAL PUJARA (CFO) · NITIN RASIKLAL PAREKH (Managing Director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 90 · Distress 60
Growth signals & trust indicators
Steady revenue growth: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Profit expanded 24% year-on-year.
Asset base grew 0.86 - capacity expansion.
Net margin improved to 61%.
Operating for 34+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Negative net worth.
6 director exits within 2 years.
Compliance score is weak (40/100).
1 auditor resignation(s) on record - review the stated reasons.
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence50/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 2 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment50/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- No existing security registered - first-charge position available.
- Compliance gaps should be priced into terms.
Investor view67/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 5 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events17 Dec 2025
Director appointed
Priyanka Bakhtyarpuri (Company Secretary)
08 Oct 2025
Director appointed
RUTA HARESHKUMAR PARIKH (Additional Director)
30 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
16 Oct 2024
Charge satisfied
The Madhavpura Mercantile Co. Op. Bank Ltd.
27 Sep 2024
Director ceased
Kiran Bhartabhai Mistri
Director ceased
Heera Lal Kumhar
Director ceased
Priyanka Sharma
02 Sep 2024
Director appointed
Heera Lal Kumhar (Director)
Director ceased
REKHA NITIN PAREKH
Director ceased
VISHNUBHAI INDUBHAI PATEL
27 Jul 2024
Director appointed
Kiran Bhartabhai Mistri (Director)
Director ceased
KANUBHAI MANSUKHLAL NANDANI
01 Sep 2021
Director appointed
YOGESHKUMAR SUMANLAL PUJARA (CFO)
31 Mar 2020
Director ceased
SUBHASH BHAGWANDAS DALAL
10
Key Observations
Auto-generated from the data aboveRevenue grew 38% over the last 4 financial year(s).
Net profit margin moved from 1.42 to 2.1x.
6 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
All 4 registered charge(s) stand satisfied - past borrowings repaid.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold the largest single block of equity as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
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12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Aditya Forge before audits and certifications: compliance score 40/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Aditya Forge: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Mixed indicators - deeper appraisal suggested. Credit risk score 55/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 90/100, margin trends, ownership structure and peer set for Aditya Forge - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 54/100, distress signals and MSME payment-delay disclosures - know whether Aditya Forge pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Aditya Forge - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Aditya Forge an active company?
Aditya Forge has MCA status “Active” with a compliance score of 40/100 (Caution Indicated).
Is Aditya Forge financially healthy?
Aditya Forge has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.
Should I do business with Aditya Forge?
Its overall Trust Score is 54/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Aditya Forge?
Promoters hold the largest single block of equity - exact percentages are in the full report. 6 active director(s) are on record.
Does Aditya Forge have loans or charges against its assets?
No open charges - all 4 registered charge(s) stand satisfied, indicating past borrowings were repaid.
Is Aditya Forge up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 40/100 (Caution Indicated).
Is it risky to lend to Aditya Forge?
Its Credit Risk Score is 55/100 (Moderate). Banker verdict: Mixed indicators - deeper appraisal suggested.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
