Ray Ecommerce Limited - Due diligence report

A 360° intelligence report on Ray Ecommerce Limited: trust score, financial health, credit view, compliance, directors, growth and distress …

2015-01-08 Surat, Gujarat Strike Off Unlisted Active Compliant
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Ray Ecommerce Limited — 360° Intelligence Report

Generated from MCA filings & public records
58/100
Trust Score
Moderate

Ray Ecommerce Limited is assessed as Moderate with a Trust Score of 58/100. Ray Ecommerce Limited is a public limited indian non-government company incorporated in 2015, operating in the Trading sector. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and moderate financial risk profile.

Report generated on 15 Oct 2026 from the latest processed filings. Ray Ecommerce Limited snapshot & full profile →

Financial Health › Neutral
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Weak

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 ScoreModerate
58/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
30/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
55/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 2 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: 45/100 Caution Indicated
  • Negative operating earnings - debt service depends on external support.
  • No open charges - unencumbered balance sheet.

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

Compliance Score: 30/100 Caution Indicated
  • Company status is "Strike Off" - not Active.
  • Last balance sheet is for Mar 2020 - filings overdue.
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
HARSHAD RAMNIKLAL VYAS 01234567 Director 01/04/2018 6 yrs Approved
BHARTIBEN HARSHADBHAI VYAS 01234567 Director 01/04/2018 6 yrs Approved
MEERA HARSHAD VYAS 01234567 Director 01/04/2018 6 yrs Approved
  • 3 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2017)
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 2017 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
0 allotment(s) · 7 transfer(s)

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

Key managerial personnel: MEERA HARSHAD VYAS (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 50 · Distress 55
Growth signals & trust indicators
Operating for 11+ years.
Distress signals & risk flags
Statutory filings appear overdue.
Adverse company status: Strike Off.
Compliance score is weak (30/100).
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence46/100
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 assessment43/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • No existing security registered - first-charge position available.
  • Compliance gaps should be priced into terms.
Investor view52/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • No clear growth signals in the filed years.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
31 Dec 2020
Last AGM held
Annual general meeting
31 Mar 2020
Latest balance sheet
Filed with ROC
31 Mar 2016
Share transfer (FY 2016)
10.00000000 shares to N. KARNA
Share transfer (FY 2016)
10.00000000 shares to R. PIYUSH
Share transfer (FY 2016)
10.00000000 shares to D. VAIBHAV
Share transfer (FY 2016)
4990.00000000 shares to HARSHAD MEERA
Share transfer (FY 2016)
10.00000000 shares to R. HARSHAD
Share transfer (FY 2016)
10.00000000 shares to R. MOKSHA
Share transfer (FY 2016)
10.00000000 shares to HARSHAD BHARTIBEN
08 Jan 2016
Director appointed
HARSHAD RAMNIKLAL VYAS (Director)
Director appointed
BHARTIBEN HARSHADBHAI VYAS (Director)
Director ceased
KAMLESHKUMAR PRANJIVAN BHALARA
Director ceased
SHILPA KAMAL BHALALA
08 Jan 2015
Incorporated
Registered with Roc Ahmedabad
Director appointed
MEERA HARSHAD VYAS (Managing Director)
10

Key Observations

Auto-generated from the data above
3 active director(s) / partner(s); board looks stable and experienced.
Promoters hold a dominant controlling stake as per the FY 2017 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Pari Structures Private Limited U45309GJ2016PTC092556 Surat, Gujarat
Frw Fabtech Private Limited U33119GJ2023PTC138795 Surat, Gujarat
Unique Ocean Technologies (India) Private Limited U35117GJ2011PTC064449 Surat, Gujarat
Sosyo Hajoori Beverages Private Limited U15136GJ2018PTC101573 Surat, Gujarat
Viram Projects Private Limited U45200GJ2011PTC066074 Surat, Gujarat
MRP CONSULTANCY LLP AAG-8990 Surat, Gujarat
Avon Mechanical Engineering Private Limited U74999GJ2022PTC131142 Surat, Gujarat
Carbonx Technology Private Limited U26990GJ2019PTC111361 Surat, Gujarat
Multigrain Food Private Limited U15316GJ2012PTC069680 Surat, Gujarat
Anand E-Beam Cables India Limited U51909GJ2022PLC132772 Surat, Gujarat
12

Who Uses This Report

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

Verify Ray Ecommerce Limited before audits and certifications: compliance score 30/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Ray Ecommerce 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: Enhanced diligence advised. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 50/100, margin trends, ownership structure and peer set for Ray Ecommerce Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 58/100, distress signals and MSME payment-delay disclosures - know whether Ray Ecommerce Limited 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 Ray Ecommerce Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Ray Ecommerce Limited an active company?

Ray Ecommerce Limited has MCA status “Strike Off” with a compliance score of 30/100 (Caution Indicated).

Is Ray Ecommerce Limited financially healthy?

Ray Ecommerce Limited has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.

Should I do business with Ray Ecommerce Limited?

Its overall Trust Score is 58/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Ray Ecommerce Limited?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 3 active director(s) are on record.

Does Ray Ecommerce Limited have loans or charges against its assets?

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

Is Ray Ecommerce Limited up to date with its ROC filings?

Last balance sheet is for Mar 2020 - filings overdue. Overall compliance score: 30/100 (Caution Indicated).

Is it risky to lend to Ray Ecommerce Limited?

Its Credit Risk Score is 45/100 (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.