Fives Combustion Systems Private Limited - Due diligence report

A 360° intelligence report on Fives: trust score, financial health, credit view, compliance, directors, growth and distress signals - genera…

1981-06-10 Vadodara, Gujarat Active Unlisted Active Compliant
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FC Fives Combustion Systems Private Limited
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Fives — 360° Intelligence Report

Generated from MCA filings & public records
80/100
Trust Score
Low Risk

Fives is assessed as Low Risk with a Trust Score of 80/100. Fives is an active private limited indian non-government company incorporated in 1981, operating in the Machinery and Equipment 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 moderate financial risk profile.

Report generated on 17 Jul 2026 from the latest processed filings. Fives Combustion Systems Private Limited snapshot & full profile →

Financial Health › Strong
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
80/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
78/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
70/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
75/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
85/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
65/100
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: 75/100 Low Risk
  • Working-capital cover adequate.
  • Profitable - internal accruals available.
  • Externally credit-rated (BBB+).

Charges position: 1 open (52.33 cr) · 2 satisfied (6.25 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Canara Bank1 48.0 cr
Syndicate Bank2 48.0 cr
Compliance Score: 78/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 2 court forum(s).
  • Delayed payments to MSME suppliers disclosed (1 disclosure(s)).
  • 1 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
DANIEL JULIEN 01234567 Director 01/04/2018 6 yrs Approved
DANIEL MARCEL BRUNELLI BRONDEX 01234567 Director 01/04/2018 6 yrs Approved
RAHUL BHARATKUMAR RAJGOR 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
Fives India Engineering & Projects Pvt Ltd
Subsidiaries
-
Group entities
-
Capital events
-

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

Group entityRelationship% held
Fives India Engineering & Projects Pvt Ltd Holding Company 74.00%

Key managerial personnel: RAHUL BHARATKUMAR RAJGOR (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 85 · Distress 65
Growth signals & trust indicators
Steady revenue growth: +38% over 4 year(s).
Profit expanded 1.42 year-on-year.
Asset base grew 2.1x - capacity expansion.
Net margin improved to 24%.
EPFO headcount growing - hiring signal.
Operating for 45+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Outside liabilities up 0.86 in a year.
1 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 1,320.00.
2 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence75/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment74/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 1 open charge(s) of 52.33 cr already registered.
  • Compliance record supports lending.
Investor view78/100
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 events
22 Jul 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
12 Jul 2019
Director ceased
FREDERIC GUNTHER THRUM
Director ceased
RAHUL BHARATKUMAR RAJGOR
09 Jul 2019
Director ceased
SREEMANTA KUMAR DAN
22 Mar 2019
Director ceased
LUIGI RUSSO
28 Dec 2018
Director appointed
RAHUL BHARATKUMAR RAJGOR (Managing Director)
12 Jul 2018
Director ceased
ALAIN LAURENT GUY
14 Jul 2016
Director ceased
DANIEL JULIEN
03 Oct 2015
Charge satisfied
Syndicate Bank
15 Sep 2015
Director appointed
DANIEL JULIEN (Nominee Director)
Director ceased
MARTIN JEAN HUGUES DUVERNE
04 Mar 2014
Director appointed
DANIEL MARCEL BRUNELLI BRONDEX (Nominee Director)
10 Jan 2014
Director ceased
ANAND RAMESHCHANDRA DALAL
01 Jul 2013
Director ceased
JAIRAJ DWARKADAS UDESHI
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.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
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 BBB+ from Care.
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.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Powerlux Industries Private Limited U29299MP2022PTC063293 Bhopal, Madhya Pradesh, India
Fristam Pumps (India) Pvt Ltd U29120MH1986PTC041599 Pune, Maharashtra, India
Ankur Scientific U24231GJ1986PTC009039 Vadodara, Gujarat, India
Sigma Heavy Engineering Industries Bhopal Private Limited U28995MP2001PTC014780 M.P., Madhya Pradesh, India
A P Cranes Private Limited U29309RJ2011PTC035526 Bhiwadi, Rajasthan, India
Ikn Engineering India Private Limited U29296TN2001PTC046571 Arumbakkam Chennai.600 106, Tamil Nadu, India
Epe Process Filters And Accumulators Private Limited U24111TG1991PTC013123 Hyderabad, Telangana, India
Schunk Carbon Technology India Private Limited U26994KA1999FTC025273 Bangalore, Karnataka, India
12

Who Uses This Report

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

Verify Fives before audits and certifications: compliance score 78/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Fives: 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 75/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Positive growth indicators. Growth score 85/100, margin trends, ownership structure and peer set for Fives - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 80/100, distress signals and MSME payment-delay disclosures - know whether Fives 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 Fives - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Fives an active company?

Fives has MCA status “Active” with a compliance score of 78/100 (Low Risk).

Is Fives financially healthy?

Fives has a Financial Health Score of 70/100 (Moderate) based on its filed financial statements.

Should I do business with Fives?

Its overall Trust Score is 80/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Fives?

The ultimate holding entity is Fives India Engineering & Projects Pvt Ltd. 3 active director(s) are on record.

Does Fives have loans or charges against its assets?

1 open charge(s) are registered against its assets, and 2 earlier charge(s) stand satisfied.

Is Fives up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 78/100 (Low Risk).

Is it risky to lend to Fives?

Its Credit Risk Score is 75/100 (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.