Promoter holding
64.27%
AH
Ashoka Highways (Bhandara) Limited - Due diligence report
A 360° intelligence report on Ashoka Highways: trust score, financial health, credit view, compliance, directors, growth and distress signal…
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Ashoka Highways — 360° Intelligence Report
Generated from MCA filings & public records61/100
Trust Score
Moderate
Ashoka Highways is assessed as Moderate with a Trust Score of 61/100. Ashoka Highways is an active public limited indian non-government company incorporated in 2007, operating in the Infrastructure and Utilities 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 low compliance risk and high financial risk profile.
Report generated on 15 Aug 2026 from the latest processed filings. Ashoka Highways (Bhandara) 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
61/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
93/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
30/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
70/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
30/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
60/100
Revenue, profit, asset and hiring momentum.
Distress ScoreCaution Indicated
45/100
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: 70/100 Moderate
- Profitable - internal accruals available.
- Externally credit-rated (BBB+).
Charges position: 2 open (499.00 cr) · 1 satisfied (375.00 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Idbi Trusteeship Services Limited | 3 | 48.0 cr |
Compliance Score: 93/100 Low Risk
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Litigation present in 1 court forum(s).
- 1 active GST registration(s).
Legal cases on record (1)
05
Director Intelligence
Stability score: 30/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| ABHISHEK ARORA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PRASANNAKUMAR BHAGAVANTH BEDI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PRATHIMA VANKADARU | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAVINDRA MOOLCHAND VIJAYVARGIYA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| POOJA ALWIN LOPES | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Balakrishnan Praveenkumar | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Jigar Arun Oza | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Rajesh Kumar Sharma | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 8 directors on the board.
- ABHISHEK ARORA has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 8 director exits in 3 years - high churn.
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
Ashoka Concessions Limited
Subsidiaries
-
Group entities
-
Capital events
6 allotment(s) · 3 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Ashoka Concessions Limited | Holding Company | 74.00% |
Key managerial personnel: RAVINDRA MOOLCHAND VIJAYVARGIYA (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 60 · Distress 45
Growth signals & trust indicators
Steady revenue growth: +38% over 4 year(s).
Operating for 19+ years.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Negative net worth.
8 director exits within 2 years.
2 open charge(s) registered - assets are encumbered.
1 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence69/100
Review suggested
Suitability as a supplier / customer counterparty.
- Statutory record is clean.
- 3 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment64/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 2 open charge(s) of 499.00 cr already registered.
- Compliance record supports lending.
Investor view50/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 1 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events09 Dec 2025
Director appointed
Jigar Arun Oza (Company Secretary)
Director appointed
Rajesh Kumar Sharma (Cfo)
26 Nov 2025
Director appointed
ABHISHEK ARORA (Director)
Director appointed
PRASANNAKUMAR BHAGAVANTH BEDI (Director)
Director appointed
PRATHIMA VANKADARU (Director)
Director appointed
Balakrishnan Praveenkumar (Director)
Director ceased
ABHISHEK ARORA
Director ceased
RAVINDRA MOOLCHAND VIJAYVARGIYA
Director ceased
PRASANNAKUMAR BHAGAVANTH BEDI
Director ceased
PRATHIMA VANKADARU
Director ceased
ANIL SHANTILAL GANDHI
Director ceased
VARUN MAHESH MEHTA
Director ceased
Balakrishnan Praveenkumar
10 Sep 2025
Last AGM held
Annual general meeting
09 Sep 2025
Director ceased
SACHIN RAJENDRA SINGHVI
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Key Observations
Auto-generated from the data aboveRevenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Compliance record is strong - status, filings and flags are clean.
8 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of BBB+ from Crisil.
Promoters hold a dominant controlling 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.
Capital has been raised through 6 security allotment(s) - amounts available in the full report.
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| Orient Constructions Pvt Ltd | U45203OR1993PTC003306 | Sambalpur, Orissa, India |
| Shivajyoti Conpro Private Limited | U45309OR2018PTC028540 | Bhubaneswar, Orissa, India |
| Mktl | U45100DL2019FTC358752 | New Delhi, Delhi, India |
| Kwtpl | U45209DL2012PTC423717 | New Delhi, Delhi, India |
| Vsc Infra Private Limited | U45400TG2008PTC060378 | Hyderabad, Telangana, India |
| Atul Engg And Construction Private Limited | U52241UP2002PTC027114 | Sonebhadra, Uttar Pradesh, India |
| Kalthia Ashti Pachod Private Limited | U45209GJ2018PTC102412 | Ahmedabad, Gujarat, India |
| Savronik Sistem India Private Limited | U74140DL2011FTC229215 | New Delhi, Delhi, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Ashoka Highways before audits and certifications: compliance score 93/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Ashoka Highways: 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 70/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 60/100, margin trends, ownership structure and peer set for Ashoka Highways - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 61/100, distress signals and MSME payment-delay disclosures - know whether Ashoka Highways pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Ashoka Highways - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Ashoka Highways an active company?
Ashoka Highways has MCA status “Active” with a compliance score of 93/100 (Low Risk).
Is Ashoka Highways financially healthy?
Ashoka Highways has a Financial Health Score of 30/100 (Caution Indicated) based on its filed financial statements.
Should I do business with Ashoka Highways?
Its overall Trust Score is 61/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Ashoka Highways?
The ultimate holding entity is Ashoka Concessions Limited. 8 active director(s) are on record.
Does Ashoka Highways have loans or charges against its assets?
2 open charge(s) are registered against its assets, and 1 earlier charge(s) stand satisfied.
Is Ashoka Highways up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 93/100 (Low Risk).
Is it risky to lend to Ashoka Highways?
Its Credit Risk Score is 70/100 (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.
