Devon Foods Limited - Due diligence report

A 360° intelligence report on Devon Foods Limited: trust score, financial health, credit view, compliance, directors, growth and distress si…

1997-10-17 Kottayam, Kerala Active Unlisted Active Compliant
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Devon Foods Limited — 360° Intelligence Report

Generated from MCA filings & public records
77/100
Trust Score
Low Risk

Devon Foods Limited is assessed as Low Risk with a Trust Score of 77/100. Devon Foods Limited is an active public limited indian non-government company incorporated in 1997, operating in the Food and Beverages 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 moderate compliance risk and moderate financial risk profile.

Report generated on 27 Sep 2026 from the latest processed filings. Devon Foods Limited snapshot & full profile →

Financial Health › Good
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Strong

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 ScoreLow Risk
77/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
74/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
60/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
60/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
70/100
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: 60/100 Moderate
  • Liabilities ≈ 38% EBITDA - stretched.
  • Working-capital cover adequate.
  • Profitable - internal accruals available.
  • Externally credit-rated (B).

Charges position: 5 open (12.30 cr) · 4 satisfied (5.95 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others5 48.0 cr
State Bank Of Travancore4 48.0 cr
Compliance Score: 74/100 Moderate
  • Company status is Active as per MCA.
  • Balance sheet slightly behind (Mar 2024).
  • Litigation present in 2 court forum(s).
  • 1 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
MANISH JAIN BAFNA 01234567 Director 01/04/2018 6 yrs Approved
MANJU BAFNA JAIN 01234567 Director 01/04/2018 6 yrs Approved
RATANLAL JAIN BAFNA 01234567 Director 01/04/2018 6 yrs Approved
  • 3 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • 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
1 allotment(s) · 0 transfer(s)

Promoters hold a dominant controlling stake - exact percentages are part of the full report.

Key managerial personnel: RATANLAL JAIN BAFNA (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 95 · Distress 70
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Profit expanded 24% year-on-year.
Net margin improved to 0.86.
Operating for 28+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Negative net worth.
5 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 diligence74/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • 1 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.
  • 5 open charge(s) of 12.30 cr already registered.
  • Compliance record supports lending.
Investor view78/100
Positive growth indicators
Growth quality and scalability through an investor lens.
  • 4 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
03 Sep 2025
Charge created
Others - 2.00 cr
30 Sep 2024
Last AGM held
Annual general meeting
31 Mar 2024
Latest balance sheet
Filed with ROC
01 Dec 2023
Charge created
Others - 1.00 cr
18 Jan 2017
Securities allotted
500000 Equity Shares - 50.00 Lakh raised
23 Dec 2016
Charge satisfied
State Bank Of Travancore
21 Nov 2016
Charge created
Others - 1.00 cr
Charge created
Others - 6.60 cr
Charge created
Others - 1.70 cr
15 Jun 2015
Charge created
State Bank Of Travancore - 2.00 cr
30 Sep 2009
Director ceased
MANISH JAIN BAFNA
Director ceased
BOBBY JACOB MARCOSE
Director ceased
MANJU BAFNA JAIN
23 Mar 2009
Director appointed
MANISH JAIN BAFNA (Director)
Director appointed
MANJU BAFNA JAIN (Director)
10

Key Observations

Auto-generated from the data above
Revenue grew 61% over the last 4 financial year(s).
Net profit margin moved from 38% to 1.42.
3 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 B from Crisil.
EPFO-registered employer - verifiable payroll history exists.
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 1 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Manmohan Besan Mill Private Limited U74994GJ2019PTC106213 Gandhinagar, Gujarat, India
Midas Naturals U15400PB2014PTC038909 Ludhiana, Punjab, India
Tea Estates India Limited U15491TZ2002PLC013079 Coimbatore, Tamil Nadu, India
Kamakhya Pan Products Private Limited U51909AS2018PTC018412 Bezera Block, Assam, India
Eatage Agro Private Limited U15130BR2017PTC034363 Muzaffarpur, Bihar, India
Khanalfoods U15400KA2015PTC082671 Mahadevapura Post, Karnataka, India
Janani Industries Private Limited U15311GJ2004PTC043588 Vadodara, Gujarat, India
Global Acqua Private Limited U51109WB1999PTC089028 Serampore, West Bengal, India
12

Who Uses This Report

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

Verify Devon Foods Limited before audits and certifications: compliance score 74/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Devon Foods Limited: 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 60/100, 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 Devon Foods Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 77/100, distress signals and MSME payment-delay disclosures - know whether Devon Foods Limited 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 Devon Foods Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Devon Foods Limited an active company?

Devon Foods Limited has MCA status “Active” with a compliance score of 74/100 (Moderate).

Is Devon Foods Limited financially healthy?

Devon Foods Limited has a Financial Health Score of 60/100 (Moderate) based on its filed financial statements.

Should I do business with Devon Foods Limited?

Its overall Trust Score is 77/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Devon Foods Limited?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 3 active director(s) are on record.

Does Devon Foods Limited have loans or charges against its assets?

5 open charge(s) are registered against its assets, and 4 earlier charge(s) stand satisfied.

Is Devon Foods Limited up to date with its ROC filings?

Balance sheet slightly behind (Mar 2024). Overall compliance score: 74/100 (Moderate).

Is it risky to lend to Devon Foods Limited?

Its Credit Risk Score is 60/100 (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.