India Circuits Private Limited - Due diligence report

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

2007-01-31 Chandigarh, Chandigarh Active Unlisted Active Compliant
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IC India Circuits Private Limited
Full Due-Diligence Report + Documents
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  • Full trust, health & credit-risk scores
  • Director details, charges & MCA documents
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India Circuits — 360° Intelligence Report

Generated from MCA filings & public records
86/100
Trust Score
Low Risk

India Circuits is assessed as Low Risk with a Trust Score of 86/100. India Circuits is an active private limited indian non-government company incorporated in 2007, operating in the Information Technology 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 moderate compliance risk and low financial risk profile.

Report generated on 18 Jul 2026 from the latest processed filings. India Circuits 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
86/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
72/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
90/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
80/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
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 access

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: 80/100 Low Risk
  • Liabilities ≈ 38% EBITDA - serviceable.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Working-capital cover adequate.
  • Profitable - internal accruals available.
  • Externally credit-rated (BB).

Charges position: 2 open (71.65 cr) · 33 satisfied (89.57 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Hdfc Bank Limited1 48.0 cr
Canara Bank9 48.0 cr
Small Industries Development Bank Of India14 48.0 cr
Sidbi9 48.0 cr
Others2 48.0 cr
Compliance Score: 72/100 Moderate
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 3 court forum(s).
  • Delayed payments to MSME suppliers disclosed (18 disclosure(s)).
  • 1 active GST registration(s).
Legal cases on record (3)
05

Director Intelligence

Stability score: 90/100
NameDIN / PANDesignationAppointedTenureDIN status
MANJU GARG 01234567 Director 01/04/2018 6 yrs Approved
RAJNEESH KUMAR GARG 01234567 Director 01/04/2018 6 yrs Approved
  • 2 directors on the board.
  • No disqualified or deactivated DINs.
  • 1 director exit(s) in the last 3 years.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2024)
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 2024 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
6 allotment(s) · 2 transfer(s)

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

Key managerial personnel: RAJNEESH KUMAR GARG (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 95 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Profit expanded 24% year-on-year.
Net margin improved to 0.86.
EPFO headcount growing - hiring signal.
Operating for 19+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
2 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 51.91 Lakh.
3 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence82/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • No distress signals on file.
  • Financial filings available for verification.
Banker assessment81/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 71.65 cr already registered.
  • Compliance record supports lending.
Investor view91/100
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
30 Mar 2026
Charge created
Sidbi - 25.32 Lakh
30 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
24 Dec 2024
Director ceased
KARUNA SHARMA
25 Apr 2023
Charge satisfied
Canara Bank
21 Apr 2023
Charge satisfied
Sidbi
Charge satisfied
Small Industries Development Bank Of India
20 Mar 2023
Charge created
Hdfc Bank Limited - 71.40 cr
19 Nov 2022
Charge satisfied
Canara Bank
Charge satisfied
Others
15 Nov 2022
Charge satisfied
Sidbi
Charge satisfied
Small Industries Development Bank Of India
15 Jun 2022
Charge satisfied
Small Industries Development Bank Of India
31 Mar 2022
Share transfer (FY 2022)
30000.00000000 shares to MANJU GARG
Share transfer (FY 2022)
20000.00000000 shares to MANJU GARG
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.
Debt-to-equity stands at 2.1x - leverage worth monitoring.
Net worth is positive.
2 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 BB from Brickwork.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2024 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 6 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Luxshare India Private Limited U31100TN2019FTC127511 Tamilnadu, Tamil Nadu, India
Wirelux Cables Private Limited U28998DL2019PTC358470 New Delhi, Delhi, India
Desai Electronics U32109PN1981PTC024206 Pune, Maharashtra, India
Kritikalsecurescan U28299DL2005PTC139427 New Delhi, Delhi, India
Dhanashree Electronics Ltd L31103WB1987PLC042594 Kolkata, West Bengal, India
Panache Digilife L72200MH2007PLC169415 Bhiwandi, Maharashtra, India
Namo Ewaste L74140DL2014PLC263441 New Delhi, Delhi, India
Hi-Q Electronics U32104KA1983PTC005174 Bangalore, Karnataka, India
12

Who Uses This Report

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

Verify India Circuits before audits and certifications: compliance score 72/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of India Circuits: 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 80/100, 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 India Circuits - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 86/100, distress signals and MSME payment-delay disclosures - know whether India Circuits pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for India Circuits - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is India Circuits an active company?

India Circuits has MCA status “Active” with a compliance score of 72/100 (Moderate).

Is India Circuits financially healthy?

India Circuits has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.

Should I do business with India Circuits?

Its overall Trust Score is 86/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls India Circuits?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 2 active director(s) are on record.

Does India Circuits have loans or charges against its assets?

2 open charge(s) are registered against its assets, and 33 earlier charge(s) stand satisfied.

Is India Circuits up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 72/100 (Moderate).

Is it risky to lend to India Circuits?

Its Credit Risk Score is 80/100 (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.