Promoter holding
64.27%
VL
Vardhan Ltd. - Due diligence report
A 360° intelligence report on Vardhan Ltd.: trust score, financial health, credit view, compliance, directors, growth and distress signals -…
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Vardhan Ltd. — 360° Intelligence Report
Generated from MCA filings & public records77/100
Trust Score
Low Risk
Vardhan Ltd. is assessed as Low Risk with a Trust Score of 77/100. Vardhan Ltd. is an active public limited indian non-government company incorporated in 1947, operating in the Financial Services sector. Reported revenue has declined 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 moderate compliance risk and moderate financial risk profile.
Report generated on 10 Oct 2026 from the latest processed filings. Vardhan 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 ScoreLow Risk
77/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
74/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
60/100
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
50/100
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: 35/100 Caution Indicated
- Negative operating earnings - debt service depends on external support.
- Open charges exceed net worth - secured lenders rank ahead.
- Working-capital cover adequate.
Charges position: 1 open (133.39 cr) · 0 satisfied (-).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 1 | 48.0 cr |
Compliance Score: 74/100 Moderate
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2025).
- Litigation present in 2 court forum(s).
Legal cases on record (2)
05
Director Intelligence
Stability score: 95/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| PRADIP KUMAR PODDAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJYA VARDHAN KANORIA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NIRMAL KUMAR NOLKHA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VINAY KUMAR BAGLA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 4 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 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
0 allotment(s) · 9 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Kanoria Africa Textiles Plc, Ethiopia | Subsidiary Company | 74.00% |
| Kanoria Chemicals & Industries Ltd | Subsidiary Company | 74.00% |
| Apag Electronik S.r.o. Czech Republic | Subsidiary Company | 74.00% |
| Apag Elektronik Ag, Switzerland | Subsidiary Company | 74.00% |
| Apag Elektronik Corp, Canada | Subsidiary Company | 74.00% |
| Apag Elektronik Llc, Us | Subsidiary Company | 74.00% |
| Apag Holdings Ag, Switzerland | Subsidiary Company | 74.00% |
| Cosyst Control Systems Gmbh, Germany | Subsidiary Company | 74.00% |
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 50 · Distress 75
Growth signals & trust indicators
Latest year revenue grew 38%.
Operating for 79+ years.
Active EPFO - real payroll on record.
Distress signals & risk flags
Losses deepening year-on-year.
1 open charge(s) registered - assets are encumbered.
2 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence75/100
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 assessment52/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 1 open charge(s) of 133.39 cr already registered.
- Compliance record supports lending.
Investor view60/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 1 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events26 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
28 Sep 2023
Director ceased
NIRMAL KUMAR NOLKHA
02 May 2023
Director appointed
NIRMAL KUMAR NOLKHA (Director)
24 May 2021
Charge created
Others - 133.39 cr
02 Sep 2019
Director appointed
PRADIP KUMAR PODDAR (Nodal Officer)
31 Mar 2019
Share transfer (FY 2019)
1.00000000 shares to ANAND VARDHAN KANORIA
Share transfer (FY 2019)
10.00000000 shares to LALIT DUGAR
Share transfer (FY 2019)
10.00000000 shares to ASHOK KUMAR KANORIA
Share transfer (FY 2019)
10.00000000 shares to SAUMYA VARDHAN KANORIA
Share transfer (FY 2019)
10.00000000 shares to ARUN KUMAR MUNDHRA
31 Mar 2017
Share transfer (FY 2017)
150.00000000 shares to GUPTA ANURADHA
Share transfer (FY 2017)
150.00000000 shares to VAIDEHI
16 Sep 2016
Director ceased
SUNIL KUMAR JAIN
16 Sep 2014
Director ceased
MAHENDRA RAJ MEHTA
10
Key Observations
Auto-generated from the data aboveRevenue declined 1.42 over the last 4 financial year(s).
Net worth is positive.
4 active director(s) / partner(s); board looks stable and experienced.
Operates a group structure with 1 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.
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12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Vardhan Ltd. before audits and certifications: compliance score 74/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Vardhan 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: 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 50/100, margin trends, ownership structure and peer set for Vardhan Ltd. - 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 Vardhan Ltd. 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 Vardhan Ltd. - groundwork for KYC, onboarding and disputes.
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Frequently Asked Questions
Is Vardhan Ltd. an active company?
Vardhan Ltd. has MCA status “Active” with a compliance score of 74/100 (Moderate).
Is Vardhan Ltd. financially healthy?
Vardhan Ltd. has a Financial Health Score of 60/100 (Moderate) based on its filed financial statements.
Should I do business with Vardhan Ltd.?
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 Vardhan Ltd.?
Promoters hold a dominant controlling stake - exact percentages are in the full report. 4 active director(s) are on record.
Does Vardhan Ltd. have loans or charges against its assets?
1 open charge(s) are registered against its assets.
Is Vardhan Ltd. up to date with its ROC filings?
Balance sheet slightly behind (Mar 2025). Overall compliance score: 74/100 (Moderate).
Is it risky to lend to Vardhan Ltd.?
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.
