Promoter holding
64.27%
HC
Herald Commerce Ltd - Due diligence report
A 360° intelligence report on Herald Commerce Ltd: trust score, financial health, credit view, compliance, directors, growth and distress si…
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Herald Commerce Ltd — 360° Intelligence Report
Generated from MCA filings & public records57/100
Trust Score
Moderate
Herald Commerce Ltd is assessed as Moderate with a Trust Score of 57/100. Herald Commerce Ltd is an active public limited indian non-government company incorporated in 1982, operating in the Financial Services 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 moderate compliance risk and high financial risk profile.
Report generated on 09 Jul 2026 from the latest processed filings. Herald Commerce Ltd 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.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
57/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
56/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
40/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
50/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
45/100
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.
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.
- No open charges - unencumbered balance sheet.
- Working-capital cover adequate.
Charges position: 0 open (-) · 0 satisfied (-).
Compliance Score: 56/100 Moderate
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: SEBI, DSE, FIU.
- Litigation present in 2 court forum(s).
- 1 active GST registration(s).
Legal cases on record (2)
05
Director Intelligence
Stability score: 45/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| PRABHAT JAIN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MADHU BARNWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHYAM SUNDER CHATTERJEE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ROHIT SAHU | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AKSHYA KUMAR PARIDA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KRISHNA BANERJEE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 6 directors on the board.
- ROHIT SAHU has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 3 director exit(s) in the last 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2021)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2025 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
-
Subsidiaries
4
Group entities
4
Capital events
-
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Arissan Infrastructures Private Limited | Subsidiary Company | 74.00% |
| Rangbarshi Projects Private Limited | Subsidiary Company | 74.00% |
| Saltlake Energy Private Limited | Subsidiary Company | 74.00% |
| Accord Tracon Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: PRABHAT JAIN (Managing Director) · SHYAM SUNDER CHATTERJEE (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 40 · Distress 60
Growth signals & trust indicators
Operating for 43+ years.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
Compliance score is weak (56/100).
2 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence58/100
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 assessment48/100
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 view44/100
Limited indicators at present
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 events25 Sep 2025
Last AGM held
Annual general meeting
13 Aug 2025
Director appointed
MADHU BARNWAL (Director)
31 Mar 2025
Latest balance sheet
Filed with ROC
26 Sep 2024
Director ceased
AKSHYA KUMAR PARIDA
16 Aug 2024
Director appointed
AKSHYA KUMAR PARIDA (Director)
17 Apr 2024
Director ceased
PRABHAT JAIN
27 Sep 2023
Director ceased
SURUCHI JAIN
14 Aug 2023
Director appointed
PRABHAT JAIN (Managing Director)
25 Sep 2019
Director ceased
ROHIT SAHU
19 Aug 2019
Director appointed
ROHIT SAHU (Director)
01 Jun 2019
Director ceased
Twinkle Pandey
18 Apr 2019
Director appointed
SHYAM SUNDER CHATTERJEE (CFO)
Director ceased
SUSANTA DOLUI
Director ceased
SANJAY DAS
26 Sep 2018
Director ceased
BIKASH ADHIKARY
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Key Observations
Auto-generated from the data aboveRevenue declined 38% over the last 4 financial year(s).
Net profit margin moved from 1.42 to 2.1x.
Debt-to-equity stands at 24% - leverage worth monitoring.
Net worth is positive.
6 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 4 subsidiary(ies) - assess on a consolidated basis.
Promoters hold a minority stake as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
| Company | CIN | Location |
|---|---|---|
| Indo-Eco (India) Ltd. | L51909WB1983PLC036102 | Kolkata, West Bengal, India |
| Best Commercial Enterprises Limited | L51909DL1983PLC016722 | Delhi, Delhi, India |
| Rgf Capital Markets | L67120WB1983PLC036113 | Kolkata, West Bengal, India |
| Amluckie Investment Co Ltd | L15491WB1876PLC000341 | Kolkata, West Bengal, India |
| Shreyans Financial And Capital Services Limited | L65921PB1984PLC005967 | Nawanshahar, Punjab, India |
| Amulyanidhi (India) Limited | L36911WB1981PLC033882 | Kolkata, West Bengal, India |
| Spml India Limited | L51109WB1988PLC092362 | Kolkata, West Bengal, India |
| Ps It Infrastructure & Services Limited | L72900MH1982PLC027146 | Mumbai, Maharashtra, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Herald Commerce Ltd before audits and certifications: compliance score 56/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Herald Commerce Ltd: 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: Limited indicators at present. Growth score 40/100, margin trends, ownership structure and peer set for Herald Commerce Ltd - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 57/100, distress signals and MSME payment-delay disclosures - know whether Herald Commerce Ltd 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 Herald Commerce Ltd - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Herald Commerce Ltd an active company?
Herald Commerce Ltd has MCA status “Active” with a compliance score of 56/100 (Moderate).
Is Herald Commerce Ltd financially healthy?
Herald Commerce Ltd has a Financial Health Score of 40/100 (Caution Indicated) based on its filed financial statements.
Should I do business with Herald Commerce Ltd?
Its overall Trust Score is 57/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Herald Commerce Ltd?
Promoters hold a minority stake - exact percentages are in the full report. 6 active director(s) are on record.
Does Herald Commerce Ltd have loans or charges against its assets?
No charges are registered against this company - an unencumbered balance sheet.
Is Herald Commerce Ltd up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 56/100 (Moderate).
Is it risky to lend to Herald Commerce Ltd?
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.
