Promoter holding
64.27%
VD
Vardhman Developers Limited - Due diligence report
A 360° intelligence report on Vardhman Developers Limited: trust score, financial health, credit view, compliance, directors, growth and dis…
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Vardhman Developers Limited — 360° Intelligence Report
Generated from MCA filings & public records80/100
Trust Score
Low Risk
Vardhman Developers Limited is assessed as Low Risk with a Trust Score of 80/100. Vardhman Developers Limited is an active public limited indian non-government company incorporated in 1990, operating in the Real Estate and Construction 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 moderate compliance risk and low financial risk profile.
Report generated on 16 Jul 2026 from the latest processed filings. Vardhman Developers 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 ScoreModerate
68/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
75/100
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
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
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: 35/100 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.
Charges position: 3 open (395.82 cr) · 7 satisfied (74.55 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 7 | 48.0 cr |
| Religare Finvest Limited | 1 | 48.0 cr |
| Uco Bank | 1 | 48.0 cr |
| Hdfc Bank Limited | 1 | 48.0 cr |
Compliance Score: 68/100 Moderate
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- Litigation present in 3 court forum(s).
- 1 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 90/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| RAJESH BABULAL VARDHAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAMESH BABULAL VARDHAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SAROJ BHANJI RATHOD | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHAILESH JOGANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 4 directors on the board.
- No disqualified or deactivated DINs.
- 3 director exit(s) in the last 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
| 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 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
2
Group entities
3
Capital events
3 allotment(s) · 0 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Vardhman Entertainment & Hospitality Private Limited | Subsidiary Company | 74.00% |
| Vardhman Multicuisine Private Limited | Subsidiary Company | 74.00% |
| Diwali Developers Private Limited | Associate Company | 74.00% |
Key managerial personnel: RAJESH BABULAL VARDHAN (Whole-time director) · RAMESH BABULAL VARDHAN (Whole-time director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 75 · Distress 90
Growth signals & trust indicators
Steady revenue growth: +2.1x over 4 year(s).
Profit expanded 24% year-on-year.
Net margin improved to 0.86.
Operating for 36+ years.
Active GST registration(s).
Distress signals & risk flags
3 open charge(s) registered - assets are encumbered.
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence78/100
Favourable indicators
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- No distress signals on file.
- Financial filings available for verification.
Banker assessment55/100
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 395.82 cr already registered.
- Compliance gaps should be priced into terms.
Investor view76/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 3 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events10 Oct 2025
Charge satisfied
Uco Bank
04 Jun 2025
Director ceased
ADITI RAJESH VARDHAN
Director ceased
VISHAL RAMESH VARDHAN
30 Sep 2024
Last AGM held
Annual general meeting
31 Mar 2024
Latest balance sheet
Filed with ROC
30 Sep 2023
Director appointed
SHAILESH JOGANI (Director)
29 Sep 2023
Director ceased
SAROJ BHANJI RATHOD
31 May 2023
Director appointed
SAROJ BHANJI RATHOD (Director)
Director ceased
BASANTRAJ PRITHVIRAJ BOHRA
29 Oct 2022
Charge created
Hdfc Bank Limited - 73.30 Lakh
13 Sep 2021
Charge satisfied
Others
15 Feb 2021
Charge satisfied
Others
27 Nov 2020
Charge satisfied
Others
09 Oct 2020
Charge created
Others - 84.80 Lakh
21 May 2020
Charge created
Others - 8.00 cr
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Key Observations
Auto-generated from the data aboveRevenue grew 61% over the last 4 financial year(s).
Net profit margin moved from 38% to 1.42.
Debt-to-equity stands at 2.1x - leverage worth monitoring.
Net worth is positive.
4 active director(s) / partner(s); board looks stable and experienced.
1 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.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 3 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Budhpur Buildcon Private Limited | U45200GJ2016PTC093352 | Ahmedabad, Gujarat, India |
| Ambient Controls Private Limited | U45302KA1990PTC011116 | Karnataka, Karnataka, India |
| Dharitri Infraventure | U45400WB2014PTC201136 | Saltlake, West Bengal, India |
| Sawan Infra Projects Private Limited | U45400MH2012PTC238140 | Nagpur, Maharashtra, India |
| Metec Construction Technology Private Limited | U45206TN2009PTC070950 | Chennai, Tamil Nadu, India |
| Rutt Deen Pvt Ltd | U55101WB1964PTC026234 | Kolkata, West Bengal, India |
| Sarovar Developers Private Limited | U45201GJ1998PTC033910 | Ahmedabad, Gujarat, India |
| Vikas Mantra Properties And Infrastructure Private Limited | U45309TN2016PTC111873 | Chennai City Corporation, Tamil Nadu, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Vardhman Developers Limited before audits and certifications: compliance score 68/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Vardhman Developers 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 35/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 75/100, margin trends, ownership structure and peer set for Vardhman Developers 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 Vardhman Developers Limited pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Vardhman Developers Limited - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Vardhman Developers Limited an active company?
Vardhman Developers Limited has MCA status “Active” with a compliance score of 68/100 (Moderate).
Is Vardhman Developers Limited financially healthy?
Vardhman Developers Limited has a Financial Health Score of 75/100 (Low Risk) based on its filed financial statements.
Should I do business with Vardhman Developers 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 Vardhman Developers Limited?
Promoters hold a dominant controlling stake - exact percentages are in the full report. 4 active director(s) are on record.
Does Vardhman Developers Limited have loans or charges against its assets?
3 open charge(s) are registered against its assets, and 7 earlier charge(s) stand satisfied.
Is Vardhman Developers Limited up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 68/100 (Moderate).
Is it risky to lend to Vardhman Developers Limited?
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.
