Promoter holding
64.27%
AC
Associated Ceramics Ltd - Due diligence report
A 360° intelligence report on Associated Ceramics Ltd: trust score, financial health, credit view, compliance, directors, growth and distres…
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Associated Ceramics Ltd — 360° Intelligence Report
Generated from MCA filings & public records74/100
Trust Score
Moderate
Associated Ceramics Ltd is assessed as Moderate with a Trust Score of 74/100. Associated Ceramics Ltd is an active public limited indian non-government company incorporated in 1970, operating in the Manufacturing 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 low financial risk profile.
Report generated on 16 Jul 2026 from the latest processed filings. Associated Ceramics Ltd 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
74/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
34/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
95/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
95/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
80/100
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: 95/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- Moderate gearing (D/E 1.42).
- Working-capital cover adequate.
- Profitable - internal accruals available.
- Externally credit-rated (A4).
Charges position: 3 open (17.02 cr) · 4 satisfied (29.41 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| State Bank Of India | 4 | 48.0 cr |
| Hdfc Bank Limited | 2 | 48.0 cr |
| Union Bank Of India | 1 | 48.0 cr |
Compliance Score: 34/100 Caution Indicated
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- Flagged by authority: BSE.
- Litigation present in 2 court forum(s).
- 1 auditor resignation(s) filed - latest: Maroti & Associates on 2023-05-13.
Legal cases on record (2)
05
Director Intelligence
Stability score: 90/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| NITESH SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| UMANG AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHARAD AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUCHIKA MARDA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUMANA BOSE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Abhishek Agarwal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ARUN AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHARAD AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 8 directors on the board.
- No disqualified or deactivated DINs.
- 2 director exit(s) in the last 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2021)
| 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 2021 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.
| Group entity | Relationship | % held |
|---|---|---|
| Ipitata Commotrade Pvt Ltd | Associate Company | 74.00% |
| Sharad International Ltd | Associate Company | 74.00% |
| Sharad Refractories Pvt Ltd | Associate Company | 74.00% |
| Susri Finance Pvt Ltd | Associate Company | 74.00% |
Key managerial personnel: SHARAD AGARWAL (CFO) · ARUN AGARWAL (Managing Director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 95 · Distress 80
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
Latest year revenue grew 24%.
Profit expanded 0.86 year-on-year.
Asset base grew 61% - capacity expansion.
EPFO headcount growing - hiring signal.
Operating for 55+ years.
Active EPFO - real payroll on record.
Distress signals & risk flags
Outside liabilities up 38% in a year.
Compliance score is weak (34/100).
3 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
2 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence60/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment80/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 3 open charge(s) of 17.02 cr already registered.
- Compliance gaps should be priced into terms.
Investor view90/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 5 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events14 Nov 2025
Director appointed
UMANG AGARWAL (Additional Director)
25 Sep 2025
Last AGM held
Annual general meeting
29 Sep 2024
Director ceased
NITESH SINGH
30 May 2024
Director appointed
NITESH SINGH (Director)
31 Mar 2024
Latest balance sheet
Filed with ROC
25 Jan 2024
Director ceased
BINOD KUMAR SUHASARIA
20 Jun 2023
Director ceased
Abhishek Agarwal
22 Mar 2023
Director appointed
Abhishek Agarwal (Director)
23 Feb 2023
Charge created
Hdfc Bank Limited - 10.00 cr
24 Jan 2023
Director ceased
SUBHASH GOYAL
22 Apr 2022
Charge satisfied
State Bank Of India
03 Mar 2022
Charge created
State Bank Of India - 2.00 Lakh
31 Mar 2021
Director ceased
ARUN AGARWAL
Director ceased
BIMAL AGARWAL
Director ceased
SHARAD AGARWAL
10
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%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
8 active director(s) / partner(s); board looks stable and experienced.
Carries an external credit rating of A4 from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold the largest single block of equity as per the FY 2021 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
| Company | CIN | Location |
|---|---|---|
| Madhav Marbels | L14101RJ1989PLC004903 | Udaipur, Rajasthan, India |
| Kccp Limited | U74110KL1984SGC004000 | Cannanore, Kerala, India |
| Venkatesh Mining Pvt Ltd | U14101RJ1995PTC010808 | Pasoond Rajsamand, Rajasthan, India |
| G T P Granites Limited | U14102TZ1990PLC002722 | Salem, Tamil Nadu, India |
| Saurashtra Calcine Bauxite And Allied Industries Ltd | U14100GJ1995PLC025199 | Porbandar, Gujarat, India |
| Nrsks Mines And Minerals Private Limited | U45400AP2018PTC108395 | Prakasam District, Andhra Pradesh, India |
| Archean Group | U26999TN1984PTC017091 | Chennai, Tamil Nadu, India |
| Ef Mining & Construction Private Limited | U45309RJ2018PTC060183 | Udaipur, Rajasthan, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Associated Ceramics Ltd before audits and certifications: compliance score 34/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Associated Ceramics Ltd: 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 95/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 95/100, margin trends, ownership structure and peer set for Associated Ceramics Ltd - 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 Associated Ceramics Ltd 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 Associated Ceramics Ltd - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Associated Ceramics Ltd an active company?
Associated Ceramics Ltd has MCA status “Active” with a compliance score of 34/100 (Caution Indicated).
Is Associated Ceramics Ltd financially healthy?
Associated Ceramics Ltd has a Financial Health Score of 95/100 (Low Risk) based on its filed financial statements.
Should I do business with Associated Ceramics Ltd?
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 Associated Ceramics Ltd?
Promoters hold the largest single block of equity - exact percentages are in the full report. 8 active director(s) are on record.
Does Associated Ceramics Ltd have loans or charges against its assets?
3 open charge(s) are registered against its assets, and 4 earlier charge(s) stand satisfied.
Is Associated Ceramics Ltd up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 34/100 (Caution Indicated).
Is it risky to lend to Associated Ceramics Ltd?
Its Credit Risk Score is 95/100 (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.
