Glittek Granites Limited - Due diligence report

A 360° intelligence report on Glittek Granites: trust score, financial health, credit view, compliance, directors, growth and distress signa…

1990-10-29 Hosakote, Karnataka Active Listed Active Compliant
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Glittek Granites — 360° Intelligence Report

Generated from MCA filings & public records
59/100
Trust Score
Moderate

Glittek Granites is assessed as Moderate with a Trust Score of 59/100. Glittek Granites is an active public limited indian non-government company incorporated in 1990, operating in the Manufacturing 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 16 Aug 2026 from the latest processed filings. Glittek Granites Limited snapshot & full profile →

Financial Health › Good
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
59/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
38/100
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 ScoreCaution Indicated
35/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
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.

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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: 50/100 Moderate
  • Liabilities ≈ 38% EBITDA - stretched.
  • No open charges - unencumbered balance sheet.
  • Working-capital cover adequate.

Charges position: 0 open (-) · 7 satisfied (23.70 cr).

Banking relationships (from registered charges)
LenderChargesAmount
State Bank Of India1 48.0 cr
Industrial Development Bank Of Inida1 48.0 cr
Industrial Development Bank Of India1 48.0 cr
Hdfc Bank Limited4 48.0 cr
Compliance Score: 38/100 Caution Indicated
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Flagged by authority: BSE.
  • Litigation present in 2 court forum(s).
  • 1 auditor resignation(s) filed - latest: K K S & CO on 2021-11-15.
  • Delayed payments to MSME suppliers disclosed (14 disclosure(s)).
  • 1 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 35/100
NameDIN / PANDesignationAppointedTenureDIN status
ASHOKE AGARWAL 01234567 Director 01/04/2018 6 yrs Approved
TUSHAR AGARWAL 01234567 Director 01/04/2018 6 yrs Approved
MALVIKA SUREKA 01234567 Director 01/04/2018 6 yrs Approved
SIDDHARTHA AGARWAL 01234567 Director 01/04/2018 6 yrs Approved
MANISH KILLA 01234567 Director 01/04/2018 6 yrs Approved
LATA BAGRI 01234567 Director 01/04/2018 6 yrs Approved
ARUMUGAM VENKATESH 01234567 Director 01/04/2018 6 yrs Approved
ASHOK KUMAR MODI 01234567 Director 01/04/2018 6 yrs Approved
Lata Damani 01234567 Director 01/04/2018 6 yrs Approved
Lata Bagri 01234567 Director 01/04/2018 6 yrs Approved
  • 10 directors on the board.
  • MALVIKA SUREKA has DIN status "Deactivated due to non-filing of DIR-3 KYC".
  • 5 director exits in 3 years - high churn.
  • 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
0 allotment(s) · 6 transfer(s)

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

Key managerial personnel: ASHOKE AGARWAL (Managing Director) · TUSHAR AGARWAL (Managing Director) · ASHOK KUMAR MODI (CFO)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 50 · Distress 80
Growth signals & trust indicators
Latest year revenue grew 1.42.
Operating for 35+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
5 director exits within 2 years.
Compliance score is weak (38/100).
1 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 1.27 cr.
2 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence57/100
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 assessment50/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • No existing security registered - first-charge position available.
  • Compliance gaps should be priced into terms.
Investor view56/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 1 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management churn warrants questions.
09

MCA Filings & Events Timeline

Latest 15 events
25 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
07 Mar 2025
Charge satisfied
State Bank Of India
15 Feb 2025
Director ceased
MANISH KILLA
20 Nov 2024
Director appointed
MANISH KILLA (Director)
27 Oct 2024
Director ceased
AJJE THIMME GOWDA
27 Sep 2024
Director ceased
RATAN KUMAR BAJAJ
Director ceased
ARUMUGAM VENKATESH
26 Sep 2024
Director ceased
SIDDHARTHA AGARWAL
21 Sep 2024
Director appointed
SIDDHARTHA AGARWAL (Director)
26 Sep 2022
Director ceased
MALVIKA SUREKA
25 Sep 2022
Director ceased
TUSHAR AGARWAL
01 Sep 2022
Director ceased
BIMAL KUMAR AGARWAL
07 Feb 2022
Director appointed
TUSHAR AGARWAL (Managing Director)
Director appointed
MALVIKA SUREKA (Director)
10

Key Observations

Auto-generated from the data above
Revenue declined 2.1x over the last 4 financial year(s).
Net profit margin moved from 24% to 0.86.
Debt-to-equity stands at 61% - leverage worth monitoring.
Net worth is positive.
10 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
All 7 registered charge(s) stand satisfied - past borrowings repaid.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority 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
Speciality Kaolin Private Limited U26999GJ2020PTC112216 Bhuj, Gujarat, India
Gorbandh Marbles Private Limited U45200RJ1997PTC013522 Jaipur, Rajasthan, India
Tileco Natural Stones Private Limited U14107RJ2005PTC020533 Jaipur, Rajasthan, India
Jain Granimarmo Pvt. Ltd. U14102RJ1996PTC012327 Udaipur, Rajasthan, India
Kore Mining And Crushing Private Limited U14290MH2013PTC251121 Taluka Wada, Maharashtra, India
Dba Mining Private Limited U14290MH2021PTC363860 Mumbai, Maharashtra, India
Gulf Stone Engineering Private Limited U36102TN2012PTC087331 Chennai, Tamil Nadu, India
Landmark Metals Private Limited U00012OR2005PTC008490 Bhubaneswar, Orissa, India
12

Who Uses This Report

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

Verify Glittek Granites before audits and certifications: compliance score 38/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Glittek Granites: 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 Glittek Granites - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 59/100, distress signals and MSME payment-delay disclosures - know whether Glittek Granites 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 Glittek Granites - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Glittek Granites an active company?

Glittek Granites has MCA status “Active” with a compliance score of 38/100 (Caution Indicated).

Is Glittek Granites financially healthy?

Glittek Granites has a Financial Health Score of 60/100 (Moderate) based on its filed financial statements.

Should I do business with Glittek Granites?

Its overall Trust Score is 59/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Glittek Granites?

Promoters hold a majority stake - exact percentages are in the full report. 10 active director(s) are on record.

Does Glittek Granites have loans or charges against its assets?

No open charges - all 7 registered charge(s) stand satisfied, indicating past borrowings were repaid.

Is Glittek Granites up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 38/100 (Caution Indicated).

Is it risky to lend to Glittek Granites?

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.