Harda Pathways Private Limited - Due diligence report

A 360° intelligence report on Harda Pathways Private Limited: trust score, financial health, credit view, compliance, directors, growth and …

2020-06-16 Mhow, Madhya Pradesh Active Unlisted Active Compliant
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Harda Pathways Private Limited — 360° Intelligence Report

Generated from MCA filings & public records
88/100
Trust Score
Low Risk

Harda Pathways Private Limited is assessed as Low Risk with a Trust Score of 88/100. Harda Pathways Private Limited is an active private limited indian non-government company incorporated in 2020, operating in the Infrastructure and Utilities 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 low financial risk profile.

Report generated on 28 Jun 2026 from the latest processed filings. Harda Pathways 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
88/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
100/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
80/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
40/100
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 ScoreLow Risk
80/100
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.

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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: 40/100 Caution Indicated
  • Liabilities ≈ 38% EBITDA - stretched.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Elevated gearing (D/E 1.42).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.
  • Externally credit-rated (A).

Charges position: 2 open (469.62 cr) · 0 satisfied (-).

Banking relationships (from registered charges)
LenderChargesAmount
Others1 48.0 cr
Canara Bank1 48.0 cr
Compliance Score: 100/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • 1 active GST registration(s).
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
HEMESH GARG 01234567 Director 01/04/2018 6 yrs Approved
SAKSHAM AGRAWAL 01234567 Director 01/04/2018 6 yrs Approved
SANJAYKUMAR SAMPATRAO BORSE 01234567 Director 01/04/2018 6 yrs Approved
HEMESH GARG 01234567 Director 01/04/2018 6 yrs Approved
NIPUN AGRAWAL 01234567 Director 01/04/2018 6 yrs Approved
NIKUNJ K PARMAR 01234567 Director 01/04/2018 6 yrs Approved
  • 6 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 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
Prakash Asphaltings And Toll Highways (india) Limited
Subsidiaries
-
Group entities
-
Capital events
5 allotment(s) · 0 transfer(s)

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

Group entityRelationship% held
Prakash Asphaltings And Toll Highways (india) Limited Holding Company 74.00%

Key managerial personnel: SANJAYKUMAR SAMPATRAO BORSE (CEO) · NIKUNJ K PARMAR (CFO)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 95 · Distress 80
Growth signals & trust indicators
Revenue acceleration: +2.1x over 2 year(s).
Latest year revenue grew 24%.
Profit expanded 0.86 year-on-year.
Asset base grew 61% - capacity expansion.
Net margin improved to 38%.
Operating for 6 years.
Active GST registration(s).
Distress signals & risk flags
Outside liabilities up 1.42 in a year.
2 open charge(s) registered - assets are encumbered.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence90/100
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 assessment67/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 469.62 cr already registered.
  • Compliance record supports lending.
Investor view88/100
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
04 Sep 2025
Last AGM held
Annual general meeting
10 Aug 2025
Director appointed
SAKSHAM AGRAWAL (Officer in default)
09 Jun 2025
Charge created
Others - 249.97 cr
31 Mar 2025
Latest balance sheet
Filed with ROC
18 May 2024
Director appointed
HEMESH GARG (Company Secretary)
01 Apr 2024
Director appointed
HEMESH GARG (Company Secretary)
20 Sep 2022
Securities allotted
1149340 Preference Shares - 11.49 cr raised
18 Jun 2022
Securities allotted
500000 Preference Shares - 5.00 cr raised
18 Nov 2021
Director appointed
SANJAYKUMAR SAMPATRAO BORSE (CEO)
Director appointed
NIKUNJ K PARMAR (CFO)
26 Jul 2021
Securities allotted
1716660 Preference Shares - 17.17 cr raised
29 Jun 2021
Charge created
Canara Bank - 219.65 cr
25 May 2021
Securities allotted
17156600 Equity Shares - 17.16 cr raised
16 Jun 2020
Incorporated
Registered with Roc Gwalior
Director appointed
NIPUN AGRAWAL (Director)
10

Key Observations

Auto-generated from the data above
Revenue grew 2.1x over the last 2 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.
Compliance record is strong - status, filings and flags are clean.
6 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 A 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.
Capital has been raised through 5 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Sew U45400TG2011PLC073116 Hyderabad, Telangana, India
Gawar Rohna Sonepat Highways Private Limited U45209HR2019PTC079472 Sadar Bazar, Haryana, India
Biz L45200MH2005PLC156879 Borivali West, Maharashtra, India
Awadh Expressway Private Limited U45203DL2022PTC396640 Delhi, Delhi, India
Conc Shade Constructions Private Limited U45400KA2008PTC047437 Chikmagalur, Karnataka, India
Ashoka Sthapatya Limited U46593PN2011PLC138820 Pune City, Maharashtra, India
A&T Engineering Private Limited U45400DL2014PTC268988 Delhi, Delhi, India
National High Speed Rail Corporation Limited U60200DL2016GOI291002 New Delhi, Delhi, India
12

Who Uses This Report

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

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

Company Secretaries (CS)

Track statutory health of Harda Pathways Private 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 40/100, 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 Harda Pathways Private Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 88/100, distress signals and MSME payment-delay disclosures - know whether Harda Pathways Private 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 Harda Pathways Private Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Harda Pathways Private Limited an active company?

Harda Pathways Private Limited has MCA status “Active” with a compliance score of 100/100 (Low Risk).

Is Harda Pathways Private Limited financially healthy?

Harda Pathways Private Limited has a Financial Health Score of 80/100 (Low Risk) based on its filed financial statements.

Should I do business with Harda Pathways Private Limited?

Its overall Trust Score is 88/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Harda Pathways Private Limited?

The ultimate holding entity is Prakash Asphaltings And Toll Highways (india) Limited. 6 active director(s) are on record.

Does Harda Pathways Private Limited have loans or charges against its assets?

2 open charge(s) are registered against its assets.

Is Harda Pathways Private Limited up to date with its ROC filings?

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

Is it risky to lend to Harda Pathways Private Limited?

Its Credit Risk Score is 40/100 (Caution Indicated). 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.