Promoter holding
64.27%
TS
Thane Steels Limited - Due diligence report
A 360° intelligence report on Thane Steels Limited: trust score, financial health, credit view, compliance, directors, growth and distress s…
Thane Steels Limited — 360° Intelligence Report
Generated from MCA filings & public records80/100
Trust Score
Low Risk
Thane Steels Limited is assessed as Low Risk with a Trust Score of 80/100. Thane Steels Limited is an active public limited indian non-government company incorporated in 1995, operating in the Metals and Minerals sector. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and moderate financial risk profile.
Report generated on 13 Jun 2026 from the latest processed filings. Thane Steels 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.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreLow Risk
80/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
76/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
65/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
40/100
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 ScoreLow Risk
75/100
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: 40/100 Caution Indicated
- Liabilities ≈ 38% EBITDA - stretched.
- Open charges exceed net worth - secured lenders rank ahead.
- Elevated gearing (D/E 1.42).
- Working-capital cover adequate.
- Profitable - internal accruals available.
- Externally credit-rated (BB).
Charges position: 10 open (94.23 cr) · 11 satisfied (120.05 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 13 | 48.0 cr |
| Oriental Bank Of Commerce | 6 | 48.0 cr |
| Oriental Bank Of Commerce Limited | 1 | 48.0 cr |
| Oriental Bank Of Commerce Naupada Branch | 1 | 48.0 cr |
Compliance Score: 76/100 Low Risk
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Litigation present in 2 court forum(s).
- 6 auditor resignation(s) filed - latest: HARDIK CHOUDHARY & ASSOCIATES on 2019-06-01.
- 3 active GST registration(s).
Legal cases on record (2)
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Director Intelligence
Stability score: 95/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| PAWANKUMAR RAMAVTAR MODI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SADANAND PANDEY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANISH MAHESHCHANDRA GARG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MAHESH CHANDER RAJARAM GARG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANISH MAHESHCHANDRA GARG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MEERA HARGOPAL RAJPUT | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| HARGOPAL GIANCHAND RAJPUT | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 7 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 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
06
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
-
Capital events
6 allotment(s) · 0 transfer(s)
Promoters hold a majority stake - exact percentages are part of the full report.
Key managerial personnel: MANISH MAHESHCHANDRA GARG (CFO) · MAHESH CHANDER RAJARAM GARG (Whole-time director) · MANISH MAHESHCHANDRA GARG (Whole-time director) · MEERA HARGOPAL RAJPUT (Whole-time director) · HARGOPAL GIANCHAND RAJPUT (Managing Director)
Full shareholding pattern, group structure & capital events →
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Risk Intelligence Center
Growth 65 · Distress 75
Growth signals & trust indicators
Profit expanded 2.1x year-on-year.
Net margin improved to 24%.
Operating for 30+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
10 open charge(s) registered - assets are encumbered.
6 auditor resignation(s) on record - review the stated reasons.
2 court case(s) on record - see the legal section for details.
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Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence77/100
Favourable indicators
Suitability as a supplier / customer counterparty.
- Statutory record is clean.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment56/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 10 open charge(s) of 94.23 cr already registered.
- Compliance record supports lending.
Investor view69/100
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.
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MCA Filings & Events Timeline
Latest 15 events30 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
12 Dec 2024
Charge created
Others - 16.03 Lakh
26 Apr 2024
Charge satisfied
Others
Charge satisfied
Oriental Bank Of Commerce
Charge satisfied
Oriental Bank Of Commerce Limited
Charge satisfied
Oriental Bank Of Commerce Naupada Branch
15 Mar 2023
Charge created
Others - 28.00 Lakh
06 Aug 2022
Charge created
Others - 8.00 cr
Charge created
Others - 1.50 cr
02 Nov 2021
Charge created
Others - 2.70 cr
30 Aug 2021
Charge created
Others - 14.07 Lakh
12 Oct 2020
Charge created
Others - 24.00 Lakh
27 Apr 2020
Charge created
Others - 2.70 cr
29 Nov 2019
Director ceased
ARUN RAMANAND MISHRA
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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.
Compliance record is strong - status, filings and flags are clean.
7 active director(s) / partner(s); board looks stable and experienced.
3 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of BB from Care.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a majority 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.
Capital has been raised through 6 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Pushpa Jewellers Limited | L27310WB2009PLC135593 | A. C Lane, West Bengal, India |
| Anchor Consumer Products Private Limited | U24249MH1992PTC068971 | Mumbai, Maharashtra, India |
| A B Cotspin | L17111PB1997PLC020118 | Jaitu, Punjab, India |
| Grover Jewells Limited | U36910DL2021PLC388184 | Delhi, Delhi, India |
| Rapid Engineering Co Pvt Ltd | U74899DL1972PTC006026 | Delhi, Delhi, India |
| Schiller Healthcare India | U33110MH1997PTC111307 | Mumbai, Maharashtra, India |
| Sanghi Jewellers Private Limited | U70100TG1999PTC031539 | Himayathnagar, Telangana, India |
| Falcon Autotech | U29230DL2010PTC207115 | Delhi, Delhi, India |
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Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Thane Steels Limited before audits and certifications: compliance score 76/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Thane Steels 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 40/100, 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 Thane Steels Limited - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Favourable indicators. Trust score 80/100, distress signals and MSME payment-delay disclosures - know whether Thane Steels 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 Thane Steels Limited - groundwork for KYC, onboarding and disputes.
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Frequently Asked Questions
Is Thane Steels Limited an active company?
Thane Steels Limited has MCA status “Active” with a compliance score of 76/100 (Low Risk).
Is Thane Steels Limited financially healthy?
Thane Steels Limited has a Financial Health Score of 65/100 (Moderate) based on its filed financial statements.
Should I do business with Thane Steels Limited?
Its overall Trust Score is 80/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Thane Steels Limited?
Promoters hold a majority stake - exact percentages are in the full report. 7 active director(s) are on record.
Does Thane Steels Limited have loans or charges against its assets?
10 open charge(s) are registered against its assets, and 11 earlier charge(s) stand satisfied.
Is Thane Steels Limited up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 76/100 (Low Risk).
Is it risky to lend to Thane Steels Limited?
Its Credit Risk Score is 40/100 (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.
