Promoter holding
64.27%
FF
First Forge Limited - Due diligence report
A 360° intelligence report on First Forge Limited: trust score, financial health, credit view, compliance, directors, growth and distress si…
First Forge Limited — 360° Intelligence Report
Generated from MCA filings & public records62/100
Trust Score
Moderate
First Forge Limited is assessed as Moderate with a Trust Score of 62/100. First Forge Limited is an active public limited indian non-government company incorporated in 2004, operating in the Metals and Minerals sector. 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 18 Jun 2026 from the latest processed filings. First Forge 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.
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Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
62/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
55/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
60/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
50/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
55/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
55/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 3 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: 50/100 Moderate
- Negative operating earnings - debt service depends on external support.
- Profitable - internal accruals available.
Charges position: 1 open (20.75 Lakh) · 8 satisfied (281.94 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Canara Bank (Lead Bank) | 1 | 48.0 cr |
| The Cosmos Co-Operative Bank Limited | 2 | 48.0 cr |
| Cosmos Co-Operative Bank Limited | 1 | 48.0 cr |
| Canara Bank | 3 | 48.0 cr |
| The Cosmos Co-Op. Bank Ltd. | 1 | 48.0 cr |
| Hdfc Bank Limited | 1 | 48.0 cr |
Compliance Score: 55/100 Moderate
- Company status is Active as per MCA.
- Marked ACTIVE non-compliant (INC-22A).
- Last balance sheet is for Mar 2023 - filings overdue.
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Director Intelligence
Stability score: 55/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| AJAB SINGH BHATI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| GAURAV PABBY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PAWAN KUMAR SHARMA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SRIBHAGWAN KUSHWAHA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 4 directors on the board.
- AJAB SINGH BHATI has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- Stable board - no exits in 3 years.
- Average tenure above 5 years.
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
Nagpur Automotive Industries Private Limited
Subsidiaries
-
Group entities
-
Capital events
6 allotment(s) · 0 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Nagpur Automotive Industries Private Limited | Holding Company | 74.00% |
Key managerial personnel: AJAB SINGH BHATI (Managing Director) · SRIBHAGWAN KUSHWAHA (Managing Director)
Full shareholding pattern, group structure & capital events →
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Risk Intelligence Center
Growth 50 · Distress 55
Growth signals & trust indicators
Operating for 21+ years.
Distress signals & risk flags
Revenue declined year-on-year.
Profit declined two years in a row.
Statutory filings appear overdue.
Compliance score is weak (55/100).
1 open charge(s) registered - assets are encumbered.
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Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence57/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 3 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment54/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 1 open charge(s) of 20.75 Lakh already registered.
- Compliance gaps should be priced into terms.
Investor view56/100
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 churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events30 Sep 2023
Last AGM held
Annual general meeting
31 Mar 2023
Latest balance sheet
Filed with ROC
24 Jul 2021
Director ceased
PAWAN KUMAR SHARMA
14 Oct 2019
Director appointed
AJAB SINGH BHATI (Managing Director)
Director appointed
SRIBHAGWAN KUSHWAHA (Managing Director)
Director ceased
ANURADHA KAPUR
01 Jun 2018
Director appointed
GAURAV PABBY (Additional Director)
Director appointed
PAWAN KUMAR SHARMA (Additional Director)
Director ceased
SOWMYANARAYANAN RAJAGOPALAN
Director ceased
KUNAL SABHARWAL
05 Mar 2016
Charge satisfied
Canara Bank
03 Mar 2016
Charge satisfied
Canara Bank (Lead Bank)
03 Oct 2013
Securities allotted
187500000 Equity Shares Without Differential Rights - 600.00 cr raised
17 Jan 2013
Securities allotted
187500000 Equity Shares Without Differential Rights - 600.00 cr raised
05 Sep 2012
Director ceased
VIVEK KUMAR AGARWAL
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Key Observations
Auto-generated from the data aboveRevenue grew 38% over the last 2 financial year(s).
Net profit margin moved from 1.42 to 2.1x.
Net worth is positive.
4 active director(s) / partner(s); review board churn before relying on management continuity.
Promoters hold a dominant controlling stake as per the FY 2023 annual return.
Capital has been raised through 6 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Samrat Hydraulics Pvt Ltd | U24231GJ1995PTC025259 | Vavdi, Rajkot., Gujarat, India |
| Jay Jay Liners Private Limited | U29309TN1994PTC028708 | Ayyanavaram,Madras-23, Tamil Nadu, India |
| Pylon Constructions Pvt Ltd | U45200TG1984PTC004851 | Hyderabad, Telangana, India |
| Jacques Holding Pvt Ltd | U67120WB1982PTC034566 | Kolkata, West Bengal, India |
| Megha Laundry Equipments Private Limited | U29267TG2014PTC096667 | Secunderabad, Telangana, India |
| Global Sinter Products Pvt Ltd | U72900TG2006PTC049278 | Hyderabad, Telangana, India |
| Bharari Metal Products Private Limited | U67120MH1995PTC086964 | Pune, Maharashtra, India |
| Jeen Storej Private Limited | U51909WB2012PTC183593 | Kolkata, West Bengal, India |
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Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify First Forge Limited before audits and certifications: compliance score 55/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of First Forge 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 50/100, 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 First Forge Limited - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 62/100, distress signals and MSME payment-delay disclosures - know whether First Forge Limited pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for First Forge Limited - groundwork for KYC, onboarding and disputes.
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Frequently Asked Questions
Is First Forge Limited an active company?
First Forge Limited has MCA status “Active” with a compliance score of 55/100 (Moderate).
Is First Forge Limited financially healthy?
First Forge Limited has a Financial Health Score of 60/100 (Moderate) based on its filed financial statements.
Should I do business with First Forge Limited?
Its overall Trust Score is 62/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls First Forge Limited?
The ultimate holding entity is Nagpur Automotive Industries Private Limited. 4 active director(s) are on record.
Does First Forge Limited have loans or charges against its assets?
1 open charge(s) are registered against its assets, and 8 earlier charge(s) stand satisfied.
Is First Forge Limited up to date with its ROC filings?
Marked ACTIVE non-compliant (INC-22A). Overall compliance score: 55/100 (Moderate).
Is it risky to lend to First Forge Limited?
Its Credit Risk Score is 50/100 (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.
