Promoter holding
64.27%
IA
Indo Amines Limited - Due diligence report
A 360° intelligence report on Indo Amines: trust score, financial health, credit view, compliance, directors, growth and distress signals - …
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Indo Amines — 360° Intelligence Report
Generated from MCA filings & public records73/100
Trust Score
Moderate
Indo Amines is assessed as Moderate with a Trust Score of 73/100. Indo Amines is an active public limited indian non-government company incorporated in 1992, operating in the Chemicals and Materials 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 high compliance risk and low financial risk profile.
Report generated on 16 Jul 2026 from the latest processed filings. Indo Amines Limited 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
73/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
32/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
90/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
65/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
80/100
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
Consolidated · 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: 65/100 Moderate
- Open charges exceed net worth - secured lenders rank ahead.
- Working-capital cover adequate.
- Profitable - internal accruals available.
- Externally credit-rated (BBB+).
Charges position: 44 open (587.48 cr) · 43 satisfied (201.05 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Hdfc Bank Limited | 18 | 48.0 cr |
| Citi Bank N.A. | 1 | 48.0 cr |
| Axis Bank Limited | 7 | 48.0 cr |
| Others | 19 | 48.0 cr |
| Yes Bank Limited | 3 | 48.0 cr |
| State Bank Of India | 10 | 48.0 cr |
Compliance Score: 32/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: CDSL, BSE, NSDL.
- Litigation present in 4 court forum(s).
- 2 auditor resignation(s) filed - latest: V.S. Somani & Co on 2023-11-01.
- Delayed payments to MSME suppliers disclosed (28 disclosure(s)).
- 3 active GST registration(s).
Legal cases on record (4)
05
Director Intelligence
Stability score: 80/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| Suniti Sagar Thombre | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ADHIKRAO ABAJI SHINGADE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DHAWAL JITENDRA VORA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIJAY BHALCHANDRA PALKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Saji Jose | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIJAY BHALCHANDRA PALKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PRADEEP HARI THAKUR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AVINASH KRISHNA APHALE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIJAY YESHWANT SANE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAHUL VIJAY PALKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AJAY MARATHE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| BHARATI VIJAY PALKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| JAYAPRAKASH ANAND SHETTY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Tripti Nishant Sawant | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Tejaswini Shirish Dalvi | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 15 directors on the board.
- No disqualified or deactivated DINs.
- 5 director exits in 3 years - high churn.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2025)
| 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
1
Group entities
1
Capital events
11 allotment(s) · 0 transfer(s)
Promoters hold a majority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Indo Amines (changzhou) Ltd | Subsidiary Company | 74.00% |
| Indo Amines (europe) Ltd. | Subsidiary Company | 74.00% |
| Indo Amines (malaysia) Sdn&bhd. | Subsidiary Company | 74.00% |
| Indo Amines Americas Llc | Subsidiary Company | 74.00% |
| Indo Speciality Chemicals Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: Suniti Sagar Thombre (CFO) · ADHIKRAO ABAJI SHINGADE (Whole-time director) · VIJAY BHALCHANDRA PALKAR (CEO) · Saji Jose (Whole-time director) · VIJAY BHALCHANDRA PALKAR (Managing Director) · RAHUL VIJAY PALKAR (Managing Director) · BHARATI VIJAY PALKAR (Whole-time director) · JAYAPRAKASH ANAND SHETTY (Whole-time director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 95 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +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 33+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Compliance score is weak (32/100).
44 open charge(s) registered - assets are encumbered.
2 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 1.70 cr.
4 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence62/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- No distress signals on file.
- Financial filings available for verification.
Banker assessment64/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 44 open charge(s) of 587.48 cr already registered.
- Compliance gaps should be priced into terms.
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 events11 Dec 2025
Charge satisfied
Others
02 Dec 2025
Charge created
Hdfc Bank Limited - 10.00 cr
19 Oct 2025
Charge satisfied
Others
24 Sep 2025
Last AGM held
Annual general meeting
18 Sep 2025
Charge created
Hdfc Bank Limited - 20.00 cr
16 Sep 2025
Charge created
Hdfc Bank Limited - 41.83 Lakh
12 Sep 2025
Charge created
Hdfc Bank Limited - 29.44 Lakh
13 Aug 2025
Director ceased
Tejaswini Shirish Dalvi
30 Jul 2025
Charge created
Others - 23.97 Lakh
29 May 2025
Director appointed
Tejaswini Shirish Dalvi (Director)
31 Mar 2025
Latest balance sheet
Filed with ROC
19 Mar 2025
Charge created
Others - 1.53 cr
03 Feb 2025
Charge created
Others - 4.86 cr
28 Jan 2025
Charge satisfied
Idbi Bank Limited
01 Jun 2024
Director appointed
Saji Jose (Whole-time director)
10
Key Observations
Auto-generated from the data aboveRevenue grew 0.86 over the last 4 financial year(s).
Net profit margin moved from 61% to 38%.
Debt-to-equity stands at 1.42 - leverage worth monitoring.
Net worth is positive.
15 active director(s) / partner(s); board looks stable and experienced.
3 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 1 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of BBB+ from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority 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.
Capital has been raised through 11 security allotment(s) - amounts available in the full report.
4 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Ami | L24100GJ2007PLC051093 | Surat, Gujarat, India |
| Bluecrosslabs | U24230MH1980PTC022825 | Mumbai, Maharashtra, India |
| Raptakos Brett And Company Limited | U52310MH1930PLC002084 | Mumbai- 400 030, Maharashtra, India |
| Mbapl | L24121RJ1997PLC029126 | Bhilwara, Rajasthan, India |
| Biuecircie | L99999MH1968PLC014154 | Navi Mumbai, Maharashtra, India |
| Bdr Pharmaceuticals Internationals | U24230MH2002PTC137329 | Mumbai, Maharashtra, India |
| Calibre | U24100MH1983PTC031128 | Mumbai, Maharashtra, India |
| Vishnu Chemicals | L85200TG1993PLC046359 | Hyderabad, Telangana, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Indo Amines before audits and certifications: compliance score 32/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Indo Amines: 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 65/100, 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 Indo Amines - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 73/100, distress signals and MSME payment-delay disclosures - know whether Indo Amines pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (4 case(s) on record), regulatory flags, charge documents trail and director networks for Indo Amines - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Indo Amines an active company?
Indo Amines has MCA status “Active” with a compliance score of 32/100 (Caution Indicated).
Is Indo Amines financially healthy?
Indo Amines has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.
Should I do business with Indo Amines?
Its overall Trust Score is 73/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Indo Amines?
Promoters hold a majority stake - exact percentages are in the full report. 15 active director(s) are on record.
Does Indo Amines have loans or charges against its assets?
44 open charge(s) are registered against its assets, and 43 earlier charge(s) stand satisfied.
Is Indo Amines up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 32/100 (Caution Indicated).
Is it risky to lend to Indo Amines?
Its Credit Risk Score is 65/100 (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.
