Promoter holding
64.27%
V(
Veritas (India) Limited - Due diligence report
A 360° intelligence report on Veritas: trust score, financial health, credit view, compliance, directors, growth and distress signals - gene…
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Veritas — 360° Intelligence Report
Generated from MCA filings & public records76/100
Trust Score
Low Risk
Veritas is assessed as Low Risk with a Trust Score of 76/100. Veritas is an active public limited indian non-government company incorporated in 1985, operating in the Chemicals and Materials 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 17 Jul 2026 from the latest processed filings. Veritas (India) 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
76/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
50/100
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 ScoreLow Risk
75/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
80/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 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
- Liabilities ≈ 38% EBITDA - stretched.
- No open charges - unencumbered balance sheet.
- Moderate gearing (D/E 1.42).
- Profitable - internal accruals available.
- Externally credit-rated (BBB+).
Charges position: 0 open (-) · 5 satisfied (147.57 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Axis Bank Limited | 1 | 48.0 cr |
| Punjab National Bank | 4 | 48.0 cr |
Compliance Score: 50/100 Moderate
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: BSE.
- Litigation present in 3 court forum(s).
- 7 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 75/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| ROHINTON ERUCH SHROFF | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAJARAM SATYENDRA SHANBHAG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUNIL SUDARSHAN SEHGAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ARUN SATYANARAIN AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VIJAY HARIDAS SHAH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ARUN SATYANARAIN AGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PARESH VASANTLAL MERCHANT | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Bhagyashri Parag Dixit | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Rakesh Navnitlal Bharucha | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 9 directors on the board.
- No disqualified or deactivated DINs.
- 7 director exits in 3 years - high churn.
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 2025 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
Swan Energy Limited
Subsidiaries
3
Group entities
3
Capital events
1 allotment(s) · 0 transfer(s)
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Verasco Fze | Subsidiary Company | 74.00% |
| Veritas Agro Ventures Private Limited | Subsidiary Company | 74.00% |
| Veritas Global Pte Limited | Subsidiary Company | 74.00% |
| Veritas Infra & Logistics Private Limited | Subsidiary Company | 74.00% |
| Veritas International Fze | Subsidiary Company | 74.00% |
| Veritas Polychem Private Limited | Subsidiary Company | 74.00% |
| Swan Energy Limited | Holding Company | 74.00% |
Key managerial personnel: RAJARAM SATYENDRA SHANBHAG (CFO) · PARESH VASANTLAL MERCHANT (Managing Director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 75 · Distress 80
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
EPFO headcount growing - hiring signal.
Operating for 41+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
6 director exits within 2 years.
Compliance score is weak (50/100).
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence67/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment71/100
Favourable lending indicators
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 view80/100
Positive growth 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.
09
MCA Filings & Events Timeline
Latest 15 events04 Jan 2026
Director ceased
SUNIL SUDARSHAN SEHGAL
13 Nov 2025
Director appointed
SUNIL SUDARSHAN SEHGAL (Director)
26 Sep 2025
Last AGM held
Annual general meeting
10 Sep 2025
Director appointed
Rakesh Navnitlal Bharucha (Cfo)
13 Aug 2025
Director appointed
Bhagyashri Parag Dixit (Director)
Director ceased
DEEPAK KRISHNA MANE
31 May 2025
Director ceased
RAJARAM SATYENDRA SHANBHAG
29 May 2025
Director ceased
Bhagyashri Parag Dixit
31 Mar 2025
Latest balance sheet
Filed with ROC
23 Oct 2024
Director appointed
ARUN SATYANARAIN AGARWAL (Company Secretary)
23 Sep 2024
Director ceased
Virat Nitin Dantwala
Director ceased
ARUN SATYANARAIN AGARWAL
30 Aug 2024
Director appointed
ARUN SATYANARAIN AGARWAL (Director)
20 Mar 2024
Director ceased
PARESH VASANTLAL MERCHANT
28 Dec 2023
Director appointed
PARESH VASANTLAL MERCHANT (Managing Director)
10
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% - manageable leverage.
Net worth is positive.
9 active director(s) / partner(s); board looks stable and experienced.
7 active GST registration(s) indicate ongoing business operations.
All 5 registered charge(s) stand satisfied - past borrowings repaid.
Operates a group structure with 3 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of BBB+ from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 1 security allotment(s) - amounts available in the full report.
5 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Shiva Cement | L26942OR1985PLC001557 | Sundargarh, Orissa, India |
| Rmc | L25111RJ1994PLC008698 | Jaipur, Rajasthan, India |
| Millennium Spirits Private Limited | U00063PN2006PTC022233 | Pune City, Maharashtra, India |
| Al-Sami Food Exports Private Limited | U15400AP2009PTC065642 | Dowlaiswaram, Andhra Pradesh, India |
| Nitcotiles | L26920MH1966PLC016547 | Mumbai, Maharashtra, India |
| Diffusion Engineers Limited | L99999MH2000PLC124154 | Nagpur, Maharashtra, India |
| Teleflex | U33112KA1993PTC124992 | Bengaluru, Karnataka, India |
| Divya Jyoti Industries | U15143MP1992PLC007090 | Dhar, Madhya Pradesh, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Veritas before audits and certifications: compliance score 50/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Veritas: 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: Favourable lending indicators. 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 75/100, margin trends, ownership structure and peer set for Veritas - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 76/100, distress signals and MSME payment-delay disclosures - know whether Veritas 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 Veritas - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Veritas an active company?
Veritas has MCA status “Active” with a compliance score of 50/100 (Moderate).
Is Veritas financially healthy?
Veritas has a Financial Health Score of 90/100 (Low Risk) based on its filed financial statements.
Should I do business with Veritas?
Its overall Trust Score is 76/100 (Low Risk). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Veritas?
The ultimate holding entity is Swan Energy Limited. 9 active director(s) are on record.
Does Veritas have loans or charges against its assets?
No open charges - all 5 registered charge(s) stand satisfied, indicating past borrowings were repaid.
Is Veritas up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 50/100 (Moderate).
Is it risky to lend to Veritas?
Its Credit Risk Score is 70/100 (Moderate). Banker verdict: Favourable lending indicators.
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.
