Promoter holding
64.27%
MC
Maithan Ceramic Ltd - Due diligence report
A 360° intelligence report on Maithan Ceramic Ltd: trust score, financial health, credit view, compliance, directors, growth and distress si…
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Maithan Ceramic Ltd — 360° Intelligence Report
Generated from MCA filings & public records56/100
Trust Score
Moderate
Maithan Ceramic Ltd is assessed as Moderate with a Trust Score of 56/100. Maithan Ceramic Ltd is an active public limited indian non-government company incorporated in 1963, operating in the Manufacturing sector. The company has shown revenue growth 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 high compliance risk and high financial risk profile.
Report generated on 21 Sep 2026 from the latest processed filings. Maithan Ceramic 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
56/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
40/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
25/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
20/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
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: 20/100 Caution Indicated
- Liabilities ≈ 38% EBITDA - stretched.
- Open charges exceed net worth - secured lenders rank ahead.
- Elevated gearing (D/E 1.42).
Charges position: 2 open (213.80 cr) · 2 satisfied (101.60 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Axis Bank Limited | 2 | 48.0 cr |
| State Bank Of India | 1 | 48.0 cr |
| Yes Bank Limited | 1 | 48.0 cr |
Compliance Score: 40/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: CBI.
- Litigation present in 4 court forum(s).
- 1 auditor resignation(s) filed - latest: A.K. GUTGUTIA & ASSOCIATES on 2022-09-03.
- 2 active GST registration(s).
Legal cases on record (4)
05
Director Intelligence
Stability score: 90/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| ADITYA AGARWALLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VISHAL AGARWALLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AYUSHI KHAITAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DHRUV AGARWALLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| JAGDISH PRASAD AGARWALLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJ KUMAR BAIROLIYA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ASHOK KUMAR SIPANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANDEEP KAUR JAISWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AJAY SHARMA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Anshuman Agarwalla | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 10 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 2023)
| 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
3 allotment(s) · 5 transfer(s)
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Maithan Advanced Materials Limited | Subsidiary Company | 74.00% |
Key managerial personnel: ADITYA AGARWALLA (Whole-time director) · VISHAL AGARWALLA (Managing Director) · RAJ KUMAR BAIROLIYA (CFO) · AJAY SHARMA (Whole-time director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 75 · Distress 60
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
Asset base grew 24% - capacity expansion.
Operating for 63+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
Compliance score is weak (40/100).
2 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
4 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence51/100
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 assessment26/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 2 open charge(s) of 213.80 cr already registered.
- Compliance gaps should be priced into terms.
Investor view53/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 2 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events25 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
15 Feb 2025
Director appointed
DHRUV AGARWALLA (Additional Director)
Director appointed
Anshuman Agarwalla (Additional Director)
30 Sep 2023
Director appointed
AYUSHI KHAITAN (Director)
Director appointed
MANDEEP KAUR JAISWAL (Director)
Director ceased
PANKAJ KUMAR LATH
31 Mar 2023
Share transfer (FY 2023)
80000.00000000 shares to JAGDISH PRASAD AGARWALLA FAMILY TRU
Director ceased
ADITYA AGARWALLA
14 Jun 2022
Charge satisfied
Axis Bank Limited
24 May 2022
Charge created
Yes Bank Limited - 65.00 cr
30 Nov 2021
Director ceased
JAGDISH PRASAD AGARWALLA
Director ceased
AJAY SHARMA
12 Nov 2021
Charge created
Axis Bank Limited - 12.00 cr
29 Oct 2021
Securities allotted
1388260 Equity Shares - 1.39 cr raised
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.
10 active director(s) / partner(s); board looks stable and experienced.
2 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 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.
Capital has been raised through 3 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
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| Sakthi Steel Industries India Private Limited | U27106TN2014PTC097573 | Chennai, Tamil Nadu, India |
| Balajee Loha | U27106CT1989PTC005016 | Raipur, Chattisgarh, India |
| Ugc Supply Chain Solutions Private Limited | U60200PN1999PTC013999 | Haveli, Maharashtra, India |
| Sivanssh Infrastructure Development Private Limited | U45200TG2000PTC034625 | Sainikpuri, Hyderabad, Telangana, India |
| Maithanispat | U27109WB2003PLC096854 | Kolkata, West Bengal, India |
| Sango India Automotive Parts Private Limited | U34102KA2012FTC097826 | Bidadi Ramanagara, Karnataka, India |
| Jogindra Castings Private Limited | U27109DL1992PTC286177 | New Delhi, Delhi, India |
| German Tmt Private Limited | U27320GJ2021PTC123852 | Ahmadabad City, Gujarat, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Maithan Ceramic Ltd before audits and certifications: compliance score 40/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Maithan Ceramic 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: Enhanced diligence advised. Credit risk score 20/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 75/100, margin trends, ownership structure and peer set for Maithan Ceramic Ltd - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 56/100, distress signals and MSME payment-delay disclosures - know whether Maithan Ceramic Ltd 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 Maithan Ceramic Ltd - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Maithan Ceramic Ltd an active company?
Maithan Ceramic Ltd has MCA status “Active” with a compliance score of 40/100 (Caution Indicated).
Is Maithan Ceramic Ltd financially healthy?
Maithan Ceramic Ltd has a Financial Health Score of 25/100 (Caution Indicated) based on its filed financial statements.
Should I do business with Maithan Ceramic Ltd?
Its overall Trust Score is 56/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Maithan Ceramic Ltd?
Promoters hold a minority stake - exact percentages are in the full report. 10 active director(s) are on record.
Does Maithan Ceramic Ltd have loans or charges against its assets?
2 open charge(s) are registered against its assets, and 2 earlier charge(s) stand satisfied.
Is Maithan Ceramic Ltd up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 40/100 (Caution Indicated).
Is it risky to lend to Maithan Ceramic Ltd?
Its Credit Risk Score is 20/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.
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.
