COMPANY INTELLIGENCE PROFILE
NIMBUS PIPES LIMITED
Nimbus Pipes Limited is a Jaipur (Rajasthan)-based manufacturer of thermoplastic (PE and PVC) pipes and fittings, operating in two core segments: (1) Micro Irrigation (drip irrigation, mini/rain sprinklers, filters, valves, injectors — largely government-scheme driven, e.g.
Nimbus Pipes Limited, incorporated in 2010 and based in Jaipur, manufactures thermoplastic pipes and fittings, focusing on micro-irrigation and industrial applications. With over 120,000 customers, it operates two facilities near Jaipur and Chennai. For FY24, the company reported revenues of Rs 195.09 crore, with a significant decline to Rs 130.03 crore in FY25. The primary credit rating by Infomerics is IVR BB/Stable for long-term facilities. Nimbus remains unfunded with routine tax litigation.
AI-generated, may contain errors.
Business Overview
- Nimbus Pipes Limited is a Jaipur (Rajasthan)-based manufacturer of thermoplastic (PE and PVC) pipes and fittings, operating in two core segments: (1) Micro Irrigation (drip irrigation, mini/rain sprinklers, filters, valves, injectors — largely government-scheme driven, e.g.
- PMKSY/B2G) and (2) Institutional Business, HDPE pipes for irrigation, construction and sewerage, sold to institutional/government buyers.
- The brand traces to a business started in 1968, was formalized as "Nimbus" in 2001, originally a partnership firm, and converted to a public limited company in 2010.
- It operates two manufacturing/R&D facilities, near Jaipur and Chennai, plus ~10 front-end branches for pan-India distribution, serving 120,000+ customers and having laid 300,000+ km of pipeline, per company website claims., Sources: nimbuspipes.com, Infomerics rating rationale 30-Oct-2025, Tofler
Sector & Classification
Manufacturing — thermoplastic (PE/PVC) pipes, fittings and micro-irrigation systems (drip/sprinkler); NIC bucket: plastic products / pipes & tubes (Sources: Tofler, TheCompanyCheck, Infomerics)
Directors & Key Management
Directors — source notes
Pravin Kumar Lath — Director, DIN 01993680 (~17-year tenure; 30+ years' industry experience per Infomerics); Ashish Kumar Lath — Director, DIN 02850029 (~17-year tenure; 20+ years' industry experience); Aditya Kasera — Director, DIN not obtained. (Source: Tofler for DINs of the two Lath directors; TheCompanyCheck/Falconebiz corroborate names; Aditya Kasera's DIN could not be confirmed from any accessible source — confidence partial for this one director.)
GST Registrations
Primary GSTIN (Rajasthan, home state): 08AADCN1836F1ZM — legal name NIMBUS PIPES LIMITED, registered 01-Jul-2017, status Active/Regular, constitution Public Limited Company, principal place of business = registered office in Jaipur, plus additional Rajasthan places of business (3 more in Jaipur, 1 in Barmer). A second Rajasthan GSTIN was also found — 08AADCN1836F3ZK (registered 06-Apr-2023) — nature/reason for a second registration in the same state not independently confirmed (partial). Additional state GSTINs reported: Karnataka 29AADCN1836F1ZI and Tamil Nadu 33AADCN1836F1ZT (consistent with the Chennai manufacturing facility). Total registrations found: at least 4 across 3 states (Rajasthan x2, Karnataka, Tamil Nadu) — could not confirm this is the complete/exhaustive list. PAN embedded in GSTIN (AADCN1836F) matches the PAN reported by Tofler. (Sources: piceapp.com GSTIN pages, cross-checked against Tofler PAN — confirmed for primary Rajasthan GSTIN; partial for the rest since only aggregator, not knowyourgst individual pages, could be pulled)
Financials
Nimbus Pipes Limited reported a surge in EBITDA margin to 11.09% in FY25 despite a 33% YoY revenue decline to Rs 130.03 Cr, driven by falling institutional HDPE-pipe demand. PAT stood at Rs 2.68 Cr with total debt reduced to Rs 63.11 Cr. H1 FY26 revenue was approximately Rs 28 Cr.
AI-generated, may contain errors.
- Standalone financials per Infomerics Valuation and Rating Ltd rating rationale dated 30-Oct-2025, primary source, most reliable: FY24 (Audited) — Total Operating Income Rs 195.09 Cr, EBITDA Rs 15.17 Cr (margin 7.77%), PAT Rs 3.67 Cr (margin 1.87%), Total Debt Rs 70.59 Cr, Tangible Net Worth Rs 44.92 Cr, Gearing 1.57x, Interest Coverage 1.79x.
- FY25 (Provisional) — Total Operating Income Rs 130.03 Cr, a ~33% degrowth YoY due to sharp decline in institutional HDPE-pipe demand; institutional segment revenue fell to Rs 35 Cr from Rs 85 Cr, EBITDA Rs 14.42 Cr (margin 11.09%), PAT Rs 2.68 Cr (margin 2.05%), Total Debt Rs 63.11 Cr, Tangible Net Worth Rs 44.15 Cr, Gearing 1.43x, Interest Coverage 1.70x, DSCR 1.03x, cash & equivalents Rs 4.84 Cr, current ratio 1.46x.
- H1 FY26 revenue reported at ~Rs 28 Cr vs ~Rs 67 Cr in H1 FY25.
- Tofler's balance-sheet extract, FY Mar-2024, presented in slightly different form/possibly consolidated-adjacent, broadly corroborates scale: revenue range Rs 100-500 Cr band, equity capital Rs 4.7 Cr, reserves Rs 34.9 Cr, total borrowings Rs 78.3 Cr, total assets Rs 185.1 Cr — figures are directionally consistent with but not identical to the Infomerics standalone numbers, aggregator estimates vs audited/provisional rating-agency figures, so treat Tofler's absolute balance-sheet totals as partial/indicative only.
- Confirmed: FY24 and FY25 (P) P&L figures from Infomerics, primary rating-agency filing.
Funding History
- No institutional/VC/PE funding rounds found. Tracxn lists the company/brand as "Unfunded." No related Tracxn-sourced round names exist to report., confirmed - absence of funding, per Tracxn
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| loans | ~Rs 59.0 Cr | |
| loans | ~Rs 10.6 Cr | |
| loan | ~Rs 1.5 Cr | |
| loans | ~Rs 0.6 Cr | partial - aggregator data |
| Term Loan | Rs 9.83 Cr | Cash Credit Rs 30 |
| Channel Financing | Rs 3.00 Cr | All Long Term |
| Bank Guarantee | Rs 15 |
- Per Tofler's charges/lender data: State Bank of India — 2
- HDFC Bank — 3 not cross-verified against a second source
- Consistent directionally with Infomerics' facility breakdown, rated as of Oct-2025: 00 Cr, maturity around Oct 2028 for term loan, 40 Cr (Short Term)
- Total rated facilities Rs 58.23 Cr. Total debt per Infomerics: Rs 63.11 Cr (FY25P) vs Rs 70.59 Cr (FY24).
Credit Ratings
- Infomerics Valuation and Rating Ltd, most current, primary source, rationale dated 30-Oct-2025: Long Term facilities (Rs 42.83 Cr) — IVR BB/Stable, downgraded from IVR BB+/Stable
- Short Term facilities (Rs 15.40 Cr) — IVR A4, downgraded from IVR A4+. Downgrade driven by ~33% revenue degrowth in FY25 and elongated working-capital cycle, 247 days vs 157 days. Rating history: IVR BB+/Stable & IVR A4+ assigned Aug-2024
- IVR BB/Stable & IVR A4 assigned Jun-2023.
- Separately, CRISIL has a 'CRISIL B/Stable/CRISIL A4' rating on record but flagged "ISSUER NOT COOPERATING", stale, no recent management interaction — treat as outdated/unreliable.
- CARE Ratings similarly classified the company as "issuer not cooperative" as of 26-Mar-2018 (very stale).
- Given the conflict, the Infomerics Oct-2025 rating is the only current, cooperative, primary-source rating
- CRISIL/CARE ratings are historical/non-cooperative and should not be presented as current standing.
Legal & Compliance
- Indian Kanoon search surfaces several income-tax and indirect-tax tribunal matters involving the company, routine tax litigation, not solvency/fraud related: Nimbus Pipes Limited, Jaipur vs ACIT Circle-4, Jaipur, ITAT Jaipur, 16-Feb-2023
- Nimbus Pipes Limited, Jaipur vs Income Tax Officer, Jaipur, ITAT Jaipur, 28-Jan-2025
- Nimbus Pipes Limited vs Jaipur-I, CESTAT, 17-Jul-2018
- A civil suit, Suit No. 7806/16 vs M/S Nimbus Pipes Ltd, Delhi District Court, 28-Jan-2017
- And one incidental mention in Ravindra Kumar Chhabra vs State of Rajasthan, Rajasthan HC, 2016.
- Also found "M/S Nimbus Industries, Kolkata vs ACIT", ITAT Kolkata, 2017, — this appears to be a DIFFERENT entity, name mismatch: "Nimbus Industries," Kolkata, not "Nimbus Pipes," Jaipur, and is NOT attributed to this company, entity-confusion trap avoided.
- No criminal, insolvency (NCLT/IBC), or securities-fraud matters found.
Competitive Landscape
- Peers in India's PE/HDPE pipes and micro-irrigation space: Jain Irrigation Systems Ltd, large-cap, listed, market leader in micro-irrigation, revenue >Rs 5,000 Cr — much larger scale
- EPC Industries Ltd, listed, PVC/HDPE pipes and micro-irrigation, mid-scale, comparable/somewhat larger
- Netafim Irrigation India Pvt Ltd, large MNC-backed micro-irrigation player, appeared in an unrelated ITAT case alongside Nimbus as a comparable
- Finolex Industries Ltd, large-cap, listed, PVC pipes leader, revenue >Rs 4,000 Cr — much larger
- Astral Limited, large-cap, listed, pipes/adhesives, revenue >Rs 5,000 Cr — much larger
- Prince Pipes & Fittings Ltd, listed, mid-large PVC/CPVC pipes maker, revenue ~Rs 2,000+ Cr — larger.
- Nimbus Pipes, ~Rs 130-195 Cr revenue, is a small-scale regional player relative to these listed peers., Sources: general market knowledge + ITAT case cross-reference; scale figures approximate, "not obtained" at precise verified level for each peer here
Frequently Asked Questions
What does Nimbus Pipes Limited do?
Nimbus Pipes Limited is a manufacturer of thermoplastic pipes and fittings based in Jaipur, Rajasthan. It operates in two main segments: Micro Irrigation systems and Institutional Business, serving a wide range of customers across India.
What is the Corporate Identification Number (CIN) of Nimbus Pipes Limited?
The Corporate Identification Number (CIN) of Nimbus Pipes Limited is U25209RJ2010PLC030783.
What is the primary GSTIN of Nimbus Pipes Limited?
The primary GSTIN of Nimbus Pipes Limited, valid in Rajasthan, is 08AADCN1836F1ZM, and it is registered as a Public Limited Company.
When was Nimbus Pipes Limited incorporated?
Nimbus Pipes Limited was incorporated on 20 January 2010, having been converted from a partnership firm originally set up in 2001.
Where is the registered office of Nimbus Pipes Limited located?
The registered office of Nimbus Pipes Limited is located at SP-2, 123-123A, RIICO Industrial Area, Manda, Near Kaladera, Vaya Chomu, Jaipur, Rajasthan 303712.
Sources
Tofler (tofler.in/nimbus-pipes-limited/company/U25209RJ2010PLC030783) — CIN validation, PAN, directors+DINs, capital, financial ratios/balance sheet, charges/lenders; TheCompanyCheck (thecompanycheck.com) — CIN/name cross-check, status, incorp date, address, capital; Falconebiz search result (title only, page itself returned no data) — used only for the CIN/name confirmation snippet in search results; Infomerics Valuation and Rating Ltd rating rationale PDF dated 30-Oct-2025 (infomericstorage.blob.core.windows.net/uploads/pr_nimbus_pipes_30oct25_d7acee1cf3.pdf) — PRIMARY source for financials, credit rating, business description, incorporation history, charges/facilities; piceapp.com GSTIN pages — primary + secondary GSTIN details; nimbuspipes.com — official site, business overview, logo path; indiankanoon.org — litigation history; Tracxn (tracxn.com) — funding status only, per instructions; general web search for competitor identification.
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.