Ordefence Systems Limited - Due diligence report

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

2015-07-17 Ahmedabad, Gujarat Active Unlisted Active Compliant
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OS Ordefence Systems 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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Adani — 360° Intelligence Report

Generated from MCA filings & public records
77/100
Trust Score
Low Risk

Adani is assessed as Low Risk with a Trust Score of 77/100. Adani is an active public limited indian non-government company incorporated in 2015, operating in the Aerospace, Maritime and Defense sector. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and high financial risk profile.

Report generated on 17 Jul 2026 from the latest processed filings. Ordefence Systems Limited snapshot & full profile →

Financial Health › Weak
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
77/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
92/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
40/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
35/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
65/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
65/100
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: 35/100 Caution Indicated
  • Liabilities ≈ 38% EBITDA - stretched.
  • No open charges - unencumbered balance sheet.
  • Elevated gearing (D/E 1.42).

Charges position: 0 open (-) · 0 satisfied (-).

Compliance Score: 92/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Delayed payments to MSME suppliers disclosed (2 disclosure(s)).
  • 2 active GST registration(s).
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
HEMANTH RAM ANANTH VEMBAR 01234567 Director 01/04/2018 6 yrs Approved
DHARMESHKUMAR BHUPENDRABHAI PATEL 01234567 Director 01/04/2018 6 yrs Approved
JATINKUMAR RAMESHCHANDRA JALUNDHWALA 01234567 Director 01/04/2018 6 yrs Approved
HEMANTH RAM ANANTH VEMBAR 01234567 Director 01/04/2018 6 yrs Approved
VIPUL AGARWAL 01234567 Director 01/04/2018 6 yrs Approved
ASHISH RAJVANSHI 01234567 Director 01/04/2018 6 yrs Approved
DHARMESHKUMAR BHUPENDRABHAI PATEL 01234567 Director 01/04/2018 6 yrs Approved
ASHOK WADHAWAN 01234567 Director 01/04/2018 6 yrs Approved
  • 8 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
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
Adani Defence Systems And Technologies Limited
Subsidiaries
2
Group entities
2
Capital events
3 allotment(s) · 0 transfer(s)

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

Group entityRelationship% held
Plr Systems (india) Limited Subsidiary Company 74.00%
Adani Defence Systems And Technologies Limited Holding Company 74.00%
Plr Systems Private Limited Subsidiary Company 74.00%

Key managerial personnel: DHARMESHKUMAR BHUPENDRABHAI PATEL (CFO) · DHARMESHKUMAR BHUPENDRABHAI PATEL (CFO)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 65 · Distress 65
Growth signals & trust indicators
Latest year revenue grew 2.1x.
Asset base grew 24% - capacity expansion.
Operating for 11+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Losses deepening year-on-year.
Outside liabilities up 0.86 in a year.
MSME payment delays disclosed - latest outstanding 58.36 Lakh.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence79/100
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 assessment51/100
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 record supports lending.
Investor view59/100
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 events
23 Jun 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
22 Jul 2022
Director ceased
ASHOK WADHAWAN
30 May 2022
Director appointed
HEMANTH RAM ANANTH VEMBAR (Company Secretary)
Director appointed
DHARMESHKUMAR BHUPENDRABHAI PATEL (CFO)
Director appointed
VIPUL AGARWAL (Manager)
12 Jan 2022
Director appointed
ASHOK WADHAWAN (Director)
Director ceased
AMEETKUMAR HIRANYAKUMAR DESAI
26 Oct 2020
Securities allotted
52500000 Equity Shares - 52.50 cr raised
01 Sep 2020
Securities allotted
500000 Equity Shares - 50.00 Lakh raised
23 Aug 2020
Director ceased
VIPUL AGARWAL
22 Aug 2020
Director appointed
ASHISH RAJVANSHI (Director)
31 Jul 2020
Director ceased
ASHISH RAJVANSHI
10 Jan 2020
Securities allotted
1700000 Equity Shares - 1.70 cr raised
06 Sep 2017
Director ceased
KAUSHAL GAUTAMBHAI SHAH
10

Key Observations

Auto-generated from the data above
Debt-to-equity stands at 61% - leverage worth monitoring.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
8 active director(s) / partner(s); board looks stable and experienced.
2 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 2 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.
Capital has been raised through 3 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Jainex Aamcol Limited L74999MH1947PLC005695 Aurangabad, Maharashtra, India
Sumuka Steels Private Limited U27106KA2012PTC065240 Shimoga, Karnataka, India
Techcom Precision India Private Limited U28112PN2013FTC148323 Pune, Maharashtra, India
Neta Valves Pvt Ltd U29120PB1983PTC005344 Punjab, Punjab, India
Ashwin Auto-Cast Private Limited U34300GJ1998PTC034288 Ahmedabad, Gujarat, India
Cerec Metalform Private Limited U28112GJ2009PTC057064 Manglej, Gujarat, India
Applied Engineering Innovations Private Limited U31909MH2019PTC333303 Mumbai, Maharashtra, India
Hi-Bond Bearings Pvt Ltd U29130GJ1990PTC013403 Rajkot, Gujarat, India
12

Who Uses This Report

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

Verify Adani before audits and certifications: compliance score 92/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Adani: 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 35/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 65/100, margin trends, ownership structure and peer set for Adani - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 77/100, distress signals and MSME payment-delay disclosures - know whether Adani pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for Adani - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Adani an active company?

Adani has MCA status “Active” with a compliance score of 92/100 (Low Risk).

Is Adani financially healthy?

Adani has a Financial Health Score of 40/100 (Caution Indicated) based on its filed financial statements.

Should I do business with Adani?

Its overall Trust Score is 77/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Adani?

The ultimate holding entity is Adani Defence Systems And Technologies Limited. 8 active director(s) are on record.

Does Adani have loans or charges against its assets?

No charges are registered against this company - an unencumbered balance sheet.

Is Adani up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 92/100 (Low Risk).

Is it risky to lend to Adani?

Its Credit Risk Score is 35/100 (Caution Indicated). 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.