Dharmadev Infrastructure Limited - Due diligence report

A 360° intelligence report on Dharmadev Infrastructure Limited: trust score, financial health, credit view, compliance, directors, growth an…

2005-08-16 Ahmedabad, Gujarat Active Unlisted Active Compliant
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Dharmadev Infrastructure Limited — 360° Intelligence Report

Generated from MCA filings & public records
61/100
Trust Score
Moderate

Dharmadev Infrastructure Limited is assessed as Moderate with a Trust Score of 61/100. Dharmadev Infrastructure Limited is an active public limited indian non-government company incorporated in 2005, operating in the Real Estate and Construction sector. Reported revenue has declined across its recent filed years. It reported a loss 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 08 Jul 2026 from the latest processed filings. Dharmadev Infrastructure Limited snapshot & full profile →

Financial Health › Neutral
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Weak

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
61/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
34/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreCaution Indicated
40/100
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.

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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: 45/100 Caution Indicated
  • Negative operating earnings - debt service depends on external support.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Moderate gearing (D/E 38%).
  • Working-capital cover adequate.

Charges position: 3 open (880.54 cr) · 20 satisfied (391.34 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others8 48.0 cr
Kotak Mahindra Bank Limited2 48.0 cr
State Bank Of India1 48.0 cr
Central Bank Of India1 48.0 cr
Uco Bank2 48.0 cr
Bank Of India2 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: DRT.
  • Litigation present in 2 court forum(s).
  • 1 auditor resignation(s) filed - latest: SAURABH C. CHOKSI & CO. on 2020-12-27.
  • 1 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
KANAKLATABEN UMANGKUMAR THAKKAR 01234567 Director 01/04/2018 6 yrs Approved
SANGITABEN VINODBHAI CHATWANI 01234567 Director 01/04/2018 6 yrs Approved
UMANG HIRALAL THAKKAR 01234567 Director 01/04/2018 6 yrs Approved
RAVI CHANDRAKANTBHAI CHATWANI 01234567 Director 01/04/2018 6 yrs Approved
  • 4 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2024 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
1
Group entities
1
Capital events
4 allotment(s) · 0 transfer(s)

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

Group entityRelationship% held
Varij Builders Private Limited Subsidiary Company 74.00%

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 40 · Distress 60
Growth signals & trust indicators
Operating for 20+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-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 · Investor
Vendor 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 assessment44/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 3 open charge(s) of 880.54 cr already registered.
  • Compliance gaps should be priced into terms.
Investor view49/100
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
28 May 2025
Charge created
Others - 665.54 cr
30 Sep 2024
Last AGM held
Annual general meeting
28 May 2024
Charge created
Others - 155.00 cr
31 Mar 2024
Latest balance sheet
Filed with ROC
08 Jun 2023
Charge created
Others - 60.00 cr
27 May 2019
Charge satisfied
Others
05 Dec 2018
Charge created
Others - 36.50 cr
30 Sep 2018
Director ceased
RAVI CHANDRAKANTBHAI CHATWANI
11 Jul 2018
Director ceased
NEEL UMANGBHAI THAKKAR
16 Mar 2018
Charge satisfied
Central Bank Of India
15 Feb 2018
Director appointed
RAVI CHANDRAKANTBHAI CHATWANI (Director)
17 Jan 2018
Charge satisfied
Others
11 Jan 2018
Charge satisfied
Others
10 Jan 2018
Charge satisfied
Tourism Finance Corporation Of India Ltd.
30 Oct 2017
Charge satisfied
Srei Equipment Finance Private Limited
10

Key Observations

Auto-generated from the data above
Revenue declined 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.
4 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 1 subsidiary(ies) - assess on a consolidated basis.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2024 annual return.
Capital has been raised through 4 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Brij Gaon Infra Private Limited U70109UP2021PTC154255 Mathura, Uttar Pradesh, India
Indiabulls U70109HR2006PLC118103 Industrial Complex Dundahera, Haryana, India
Pruksa India Housing U70102KA2009PTC048926 Bangalore, Karnataka, India
Automotive & Equipment Sales Pvt Ltd U34300DL1991PTC191613 New Delhi, Delhi, India
Budhia Infrastructure Private Limited U45309JH2022PTC018839 A.I .Area, Jharkhand, India
Shri Labsons Builders & Developers Private Limited U45200PN2010PTC137908 Pune, Maharashtra, India
Totalenvironment U45202KA1985PTC007026 Bangalore, Karnataka, India
Aio Buildcon Private Limited U70109RJ2017PTC057478 Udaipur, Rajasthan, India
12

Who Uses This Report

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

Verify Dharmadev Infrastructure Limited 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 Dharmadev Infrastructure 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: Enhanced diligence advised. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 40/100, margin trends, ownership structure and peer set for Dharmadev Infrastructure Limited - 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 Dharmadev Infrastructure 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 Dharmadev Infrastructure Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Dharmadev Infrastructure Limited an active company?

Dharmadev Infrastructure Limited has MCA status “Active” with a compliance score of 34/100 (Caution Indicated).

Is Dharmadev Infrastructure Limited financially healthy?

Dharmadev Infrastructure Limited has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.

Should I do business with Dharmadev Infrastructure Limited?

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 Dharmadev Infrastructure Limited?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 4 active director(s) are on record.

Does Dharmadev Infrastructure Limited have loans or charges against its assets?

3 open charge(s) are registered against its assets, and 20 earlier charge(s) stand satisfied.

Is Dharmadev Infrastructure Limited 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 Dharmadev Infrastructure Limited?

Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.

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.