Promoter holding
64.27%
RS
Refractory Shapes Limited - Due diligence report
A 360° intelligence report on Refractory Shapes Limited: trust score, financial health, credit view, compliance, directors, growth and distr…
Refractory Shapes Limited — 360° Intelligence Report
Generated from MCA filings & public records69/100
Trust Score
Moderate
Refractory Shapes Limited is assessed as Moderate with a Trust Score of 69/100. Refractory Shapes Limited is an active public limited indian non-government company incorporated in 1996, operating in the Chemicals 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 13 Jun 2026 from the latest processed filings. Refractory Shapes 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.
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Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
69/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
41/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
90/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
70/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
40/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
90/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
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: 70/100 Moderate
- Working-capital cover adequate.
- Profitable - internal accruals available.
Charges position: 3 open (20.22 cr) · 3 satisfied (61.38 Lakh).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 3 | 48.0 cr |
| Vijaya Bank | 3 | 48.0 cr |
Compliance Score: 41/100 Caution Indicated
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- Flagged by authority: EPFO.
- Litigation present in 1 court forum(s).
- 1 auditor resignation(s) filed - latest: SATISH SHETTY & CO on 2024-05-01.
- 2 active GST registration(s).
Legal cases on record (1)
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Director Intelligence
Stability score: 40/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| SURAJ SADANAND SHETTY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AMMAR HUSENI RANGWALA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ABHAY YATIN NAIK | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| KEMMANNU SHASHIDHARA RAO | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Dhananjay Mayur Dave | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ravindra Venkatesh Hulyalkar | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MAJUR JOTHIPRAKASH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DAYASHANKAR KRISHNA SHETTY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SIDDHARTH KUMAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PRAJNA SHRAVAN SHETTY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ammar Huseni Rangwala | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Neelam Mandawat | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 12 directors on the board.
- KEMMANNU SHASHIDHARA RAO has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 1 director exit(s) in the last 3 years.
Director & KMP remuneration (FY 2024)
| 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
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Ownership & Group Intelligence
As per FY 2024 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
-
Group entities
1
Capital events
0 allotment(s) · 8 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Excel Micron (poona) Pvt Ltd | Associate Company | 74.00% |
Key managerial personnel: AMMAR HUSENI RANGWALA (CFO) · MAJUR JOTHIPRAKASH (Whole-time director) · PRAJNA SHRAVAN SHETTY (Managing Director)
Full shareholding pattern, group structure & capital events →
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Risk Intelligence Center
Growth 90 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +38% over 4 year(s).
Profit expanded 1.42 year-on-year.
Net margin improved to 2.1x.
EPFO headcount growing - hiring signal.
Operating for 30+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Compliance score is weak (41/100).
3 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
1 court case(s) on record - see the legal section for details.
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Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence64/100
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 assessment69/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 3 open charge(s) of 20.22 cr already registered.
- Compliance gaps should be priced into terms.
Investor view85/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 4 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
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MCA Filings & Events Timeline
Latest 15 events14 Sep 2024
Last AGM held
Annual general meeting
31 Mar 2024
Share transfer (FY 2024)
315996.00000000 shares to Prajna Shravan Shetty
Share transfer (FY 2024)
158000.00000000 shares to Prajna Shravan Shetty
Share transfer (FY 2024)
2.00000000 shares to Praday Dayashankar Shetty
Share transfer (FY 2024)
2.00000000 shares to Shravan Sadanand Shetty
Share transfer (FY 2024)
2.00000000 shares to Suraj Sadanand Shetty
Share transfer (FY 2024)
2.00000000 shares to Yogishwar Bola Krishna
Latest balance sheet
Filed with ROC
29 Dec 2023
Director appointed
Ammar Huseni Rangwala (Cfo)
27 Dec 2023
Director appointed
Neelam Mandawat (Company Secretary)
19 Dec 2023
Director appointed
ABHAY YATIN NAIK (Director)
Director appointed
KEMMANNU SHASHIDHARA RAO (Director)
Director appointed
Dhananjay Mayur Dave (Director)
Director appointed
Ravindra Venkatesh Hulyalkar (Director)
Director appointed
SIDDHARTH KUMAR (Director)
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Key Observations
Auto-generated from the data aboveRevenue grew 24% over the last 4 financial year(s).
Net profit margin moved from 0.86 to 61%.
Debt-to-equity stands at 38% - leverage worth monitoring.
Net worth is positive.
12 active director(s) / partner(s); review board churn before relying on management continuity.
2 active GST registration(s) indicate ongoing business operations.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2024 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
| Company | CIN | Location |
|---|---|---|
| Zenotech Laboratories | L27100TG1989PLC010122 | Hyd, Telangana, India |
| Edkem Pharmaceuticals Limited | U24230GJ2016PLC092826 | Ahmedabad, Gujarat, India |
| Sanjivani Biochem Private Limited | U33110GJ2004PTC045012 | Ahmedabad, Gujarat, India |
| Maya Biotech | U55101CH1998PTC021391 | Chandigarh, Chandigarh, India |
| Orex Pharma Private Limited | U99999MH1979PTC021403 | Thane, Maharashtra, India |
| Chempro Pharma Private Limited | U24230MH2008PTC182363 | Mumbai, Maharashtra, India |
| Pharcos Speciality Limited | U24100GJ2015PLC083677 | Vijapur, Gujarat, India |
| Concord Drugs | L24230TG1995PLC020093 | Na, Telangana, India |
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Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Refractory Shapes Limited before audits and certifications: compliance score 41/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Refractory Shapes 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: Mixed indicators - deeper appraisal suggested. Credit risk score 70/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 90/100, margin trends, ownership structure and peer set for Refractory Shapes Limited - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 69/100, distress signals and MSME payment-delay disclosures - know whether Refractory Shapes Limited pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Refractory Shapes Limited - groundwork for KYC, onboarding and disputes.
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Frequently Asked Questions
Is Refractory Shapes Limited an active company?
Refractory Shapes Limited has MCA status “Active” with a compliance score of 41/100 (Caution Indicated).
Is Refractory Shapes Limited financially healthy?
Refractory Shapes Limited has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.
Should I do business with Refractory Shapes Limited?
Its overall Trust Score is 69/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Refractory Shapes Limited?
Promoters hold a dominant controlling stake - exact percentages are in the full report. 12 active director(s) are on record.
Does Refractory Shapes Limited have loans or charges against its assets?
3 open charge(s) are registered against its assets, and 3 earlier charge(s) stand satisfied.
Is Refractory Shapes Limited up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 41/100 (Caution Indicated).
Is it risky to lend to Refractory Shapes Limited?
Its Credit Risk Score is 70/100 (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.
