Arex Industries Limited - Due diligence report

A 360° intelligence report on Arex Industries: trust score, financial health, credit view, compliance, directors, growth and distress signal…

1989-05-10 Gandhinagar, Gujarat Active Listed Active Compliant
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Arex Industries — 360° Intelligence Report

Generated from MCA filings & public records
74/100
Trust Score
Moderate

Arex Industries is assessed as Moderate with a Trust Score of 74/100. Arex Industries is an active public limited indian non-government company incorporated in 1989, operating in the Environment sector. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and low financial risk profile.

Report generated on 16 Jul 2026 from the latest processed filings. Arex Industries Limited snapshot & full profile →

Financial Health › Strong
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Good

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 & explainable
Trust ScoreModerate
74/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
56/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
80/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
75/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
80/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
65/100
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 access

Scores 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: 75/100 Low Risk
  • Open charges exceed net worth - secured lenders rank ahead.
  • Moderate gearing (D/E 38%).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.
  • Externally credit-rated (BBB).

Charges position: 2 open (33.50 cr) · 15 satisfied (18.87 cr).

Banking relationships (from registered charges)
LenderChargesAmount
State Bank Of India5 48.0 cr
The Bhagyodaya Co-Op Bank Ltd9 48.0 cr
The Bhagyodaya Co-Op. Bank Ltd.2 48.0 cr
Hdfc Bank Limited1 48.0 cr
Compliance Score: 56/100 Moderate
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Flagged by authority: DSE, BSE.
  • Litigation present in 2 court forum(s).
  • 1 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 80/100
NameDIN / PANDesignationAppointedTenureDIN status
DINESH APPARAO BILGI 01234567 Director 01/04/2018 6 yrs Approved
NEEL DINESH BILGI 01234567 Director 01/04/2018 6 yrs Approved
MANOJ UTTAM SHAH 01234567 Director 01/04/2018 6 yrs Approved
AVIV JOSEPH DIVEKAR 01234567 Director 01/04/2018 6 yrs Approved
PRAGNESH KANTILAL SHAH 01234567 Director 01/04/2018 6 yrs Approved
KAIRAVI NEEL BILGI 01234567 Director 01/04/2018 6 yrs Approved
LAXMAN CHETANDAS TILANI 01234567 Director 01/04/2018 6 yrs Approved
Rekha Agarwal 01234567 Director 01/04/2018 6 yrs Approved
CHIRAG DINESH BILGI 01234567 Director 01/04/2018 6 yrs Approved
SUNIL BANSIBHAI SHAH 01234567 Director 01/04/2018 6 yrs Approved
  • 10 directors on the board.
  • No disqualified or deactivated DINs.
  • 5 director exits in 3 years - high churn.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
NameDesignationTotal remuneration
A K SharmaManaging Director2.4 cr
R MehtaWhole-time Director1.6 cr
S IyerCFO95.0 L

Remuneration is disclosed in the latest annual return. Unlock full report

06

Ownership & Group Intelligence

As per FY 2023 annual return
Promoter holding
64.27%
Public / 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 a majority stake - exact percentages are part of the full report.

Key managerial personnel: DINESH APPARAO BILGI (Managing Director) · NEEL DINESH BILGI (Managing Director) · CHIRAG DINESH BILGI (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 50 · Distress 65
Growth signals & trust indicators
Operating for 37+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
4 director exits within 2 years.
Compliance score is weak (56/100).
2 open charge(s) registered - assets are encumbered.
2 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence64/100
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 assessment72/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 33.50 cr already registered.
  • Compliance gaps should be priced into terms.
Investor view66/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • No clear growth signals in the filed years.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
29 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
29 Sep 2024
Director ceased
MANOJ UTTAM SHAH
Director ceased
Rekha Agarwal
Director ceased
SUNIL BANSIBHAI SHAH
11 Sep 2024
Director ceased
BALKRISHNA ISHWARLAL MAKWANA
01 Sep 2024
Director appointed
MANOJ UTTAM SHAH (Director)
Director appointed
Rekha Agarwal (Director)
Director appointed
SUNIL BANSIBHAI SHAH (Director)
17 Jun 2024
Director ceased
VASANT RAVJI SHAH
27 Jun 2022
Director ceased
PRAGNESH KANTILAL SHAH
27 May 2022
Director appointed
KAIRAVI NEEL BILGI (Nodal Officer)
27 Sep 2021
Director ceased
AVIV JOSEPH DIVEKAR
01 Sep 2021
Director appointed
AVIV JOSEPH DIVEKAR (Director)
27 Mar 2021
Director ceased
DINESH HARISHCHANDRA PANDE
10

Key Observations

Auto-generated from the data above
Revenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
10 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of BBB from Care.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
M T A Mills Private Limited U17115TZ1989PTC003048 Coimbatore District, Tamil Nadu, India
Sarjan Texturisers Private Limited U17114GJ1990PTC014683 Surat, Gujarat, India
Maadhav Processors Private Limited U17299GJ2021PTC123534 Surat, Gujarat, India
India Fashions Private Limited U18101MH2005PTC156779 Thane, Maharashtra, India
Arjay Apparel Industries Limited U70100MH1984PLC032898 Mumbai, Maharashtra, India
Price And Buckland (India ) Private Limited U17291UP2010FTC042611 Noida, Uttar Pradesh, India
Jai Karni Suitings Private Limited U18108RJ1993PTC007840 Bhilwara, Rajasthan, India
Sarla Mills Private Limited U17309HR2019PTC083486 Ambala, Haryana, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Arex Industries before audits and certifications: compliance score 56/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Arex Industries: 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: Favourable lending indicators. Credit risk score 75/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 50/100, margin trends, ownership structure and peer set for Arex Industries - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 74/100, distress signals and MSME payment-delay disclosures - know whether Arex Industries pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (2 case(s) on record), regulatory flags, charge documents trail and director networks for Arex Industries - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Arex Industries an active company?

Arex Industries has MCA status “Active” with a compliance score of 56/100 (Moderate).

Is Arex Industries financially healthy?

Arex Industries has a Financial Health Score of 80/100 (Low Risk) based on its filed financial statements.

Should I do business with Arex Industries?

Its overall Trust Score is 74/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Arex Industries?

Promoters hold a majority stake - exact percentages are in the full report. 10 active director(s) are on record.

Does Arex Industries have loans or charges against its assets?

2 open charge(s) are registered against its assets, and 15 earlier charge(s) stand satisfied.

Is Arex Industries up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 56/100 (Moderate).

Is it risky to lend to Arex Industries?

Its Credit Risk Score is 75/100 (Low Risk). Banker verdict: Favourable lending indicators.

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.