Mahindra Defence Systems Limited - Due diligence report

A 360° intelligence report on Mahindra Defence Systems Limited: trust score, financial health, credit view, compliance, directors, growth an…

2012-07-30 Mumbai, Maharashtra Active Unlisted Active Compliant
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Mahindra Defence Systems Limited — 360° Intelligence Report

Generated from MCA filings & public records
85/100
Trust Score
Low Risk

Mahindra Defence Systems Limited is assessed as Low Risk with a Trust Score of 85/100. Mahindra Defence Systems Limited is an active public limited indian non-government company incorporated in 2012, operating in the Aerospace, Maritime and Defense 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 16 Aug 2026 from the latest processed filings. Mahindra Defence Systems 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
85/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
78/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
95/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
55/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
80/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
85/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
70/100
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: 55/100 Moderate
  • Liabilities ≈ 38% EBITDA - stretched.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Moderate gearing (D/E 1.42).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.

Charges position: 2 open (850.00 cr) · 3 satisfied (338.00 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Hdfc Bank Limited4 48.0 cr
Axis Bank Limited1 48.0 cr
Compliance Score: 78/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 2 court forum(s).
  • Delayed payments to MSME suppliers disclosed (14 disclosure(s)).
  • 6 active GST registration(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 80/100
NameDIN / PANDesignationAppointedTenureDIN status
ABANTI SANKARANARAYANAN 01234567 Director 01/04/2018 6 yrs Approved
MUKUL VERMA 01234567 Director 01/04/2018 6 yrs Approved
ASHVIN PATNI 01234567 Director 01/04/2018 6 yrs Approved
VINOD KUMAR SAHAY 01234567 Director 01/04/2018 6 yrs Approved
MUKUL VERMA 01234567 Director 01/04/2018 6 yrs Approved
Raveeswaran Nagarajan 01234567 Director 01/04/2018 6 yrs Approved
RUZBEH BAMAN IRANI 01234567 Director 01/04/2018 6 yrs Approved
MANASWINI GOEL 01234567 Director 01/04/2018 6 yrs Approved
Jasbir Solanki 01234567 Director 01/04/2018 6 yrs Approved
  • 9 directors on the board.
  • No disqualified or deactivated DINs.
  • 4 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
Mahindra And Mahindra Limited
Subsidiaries
1
Group entities
1
Capital events
15 allotment(s) · 6 transfer(s)

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

Group entityRelationship% held
Mahindra Telephonics Integrated Systems Limited Subsidiary Company 74.00%
Mahindra And Mahindra Limited Holding Company 74.00%
Mahindra Emirates Vehicle Armoring Fz Llc Subsidiary Company 74.00%
Mahindra Armored Vehicle Jordan Llc Subsidiary Company 74.00%

Key managerial personnel: MUKUL VERMA (CFO) · MUKUL VERMA (CFO) · Raveeswaran Nagarajan (Whole-time director) · Jasbir Solanki (Whole-time director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 85 · Distress 70
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
Latest year revenue grew 24%.
Asset base grew 0.86 - capacity expansion.
Operating for 14+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Profit declined two years in a row.
3 director exits within 2 years.
2 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 41.63 Lakh.
2 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence78/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment73/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 850.00 cr already registered.
  • Compliance record supports lending.
Investor view88/100
Positive growth indicators
Growth quality and scalability through an investor lens.
  • 3 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
14 Sep 2025
Director ceased
MANASWINI GOEL
Director ceased
Jasbir Solanki
26 Aug 2025
Director appointed
Jasbir Solanki (Whole-time director)
15 Jul 2025
Director appointed
MANASWINI GOEL (Director)
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
23 Oct 2024
Director appointed
VINOD KUMAR SAHAY (Director)
19 Sep 2024
Director ceased
Raveeswaran Nagarajan
16 Jul 2024
Director appointed
Raveeswaran Nagarajan (Whole-time director)
03 Jun 2024
Charge satisfied
Hdfc Bank Limited
25 Feb 2024
Director ceased
VINOD KUMAR SAHAY
25 Jun 2023
Director ceased
ABANTI SANKARANARAYANAN
Director ceased
DURGASHANKAR SUBRAMANIAM
25 Jan 2023
Director appointed
ASHVIN PATNI (Company Secretary)
28 Oct 2022
Director appointed
ABANTI SANKARANARAYANAN (Director)
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 - manageable leverage.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
9 active director(s) / partner(s); board looks stable and experienced.
6 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 1 subsidiary(ies) - assess on a consolidated basis.
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 15 security allotment(s) - amounts available in the full report.
1 overseas direct investment(s) (ODI) on record - international footprint.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Ocs Services U74210MH1996PTC103138 Mumbai, Maharashtra, India
Hindustantimes U74900BR2015PLC025243 Patna, Bihar, India
Shivalik Distribution Private Limited U74999UR2015PTC001624 Dehradun, Uttarakhand, India
Adfactors Pr U74140MH1997PTC110210 Mumbai, Maharashtra, India
Trelleborg India Private Limited U25203KA2012FTC062226 Bangalore, Karnataka, India
Css Corp U72900TN2000PTC115034 Chennai, Tamil Nadu, India
Pratap Technocrats U74900RJ2015PTC048699 Jaipur, Rajasthan, India
Shivalik Communications Private Limited U74999UR2015PTC001625 Dehradun, Uttarakhand, India
12

Who Uses This Report

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

Verify Mahindra Defence Systems Limited before audits and certifications: compliance score 78/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Mahindra Defence Systems 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: Favourable lending indicators. Credit risk score 55/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Positive growth indicators. Growth score 85/100, margin trends, ownership structure and peer set for Mahindra Defence Systems Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 85/100, distress signals and MSME payment-delay disclosures - know whether Mahindra Defence Systems Limited 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 Mahindra Defence Systems Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Mahindra Defence Systems Limited an active company?

Mahindra Defence Systems Limited has MCA status “Active” with a compliance score of 78/100 (Low Risk).

Is Mahindra Defence Systems Limited financially healthy?

Mahindra Defence Systems Limited has a Financial Health Score of 95/100 (Low Risk) based on its filed financial statements.

Should I do business with Mahindra Defence Systems Limited?

Its overall Trust Score is 85/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Mahindra Defence Systems Limited?

The ultimate holding entity is Mahindra And Mahindra Limited. 9 active director(s) are on record.

Does Mahindra Defence Systems Limited have loans or charges against its assets?

2 open charge(s) are registered against its assets, and 3 earlier charge(s) stand satisfied.

Is Mahindra Defence Systems Limited up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 78/100 (Low Risk).

Is it risky to lend to Mahindra Defence Systems Limited?

Its Credit Risk Score is 55/100 (Moderate). 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.