₹2,222 crore of revenue reported in the latest year (mostly FY25) by the 33 of India's 339 toy manufacturers with accounts on file. The ten largest produce 97% of it; the typical filer earns ₹4.7 crore.
Active companies
339
toy manufacturers on the register
Reported revenue
₹2,222 crore
33 companies with accounts
Profitable
56%
of filers · India 56%
Secured loans
18.3%
of companies have one on record
What stands out about India's toy manufacturers
01
Revenue
₹2,222 crore
of revenue reported in the latest year (mostly FY25) by the 33 of India's 339 toy manufacturers with accounts on file. The ten largest produce 97% of it; the typical filer earns ₹4.7 crore.
02
Profitability
56%
of filers reported a profit (India, same segment: 56%); the median net margin is 1.1% against 1.1% nationally.
03
Growth
+11%
median revenue growth across 32 companies with two consecutive years on file (India: +11%); 10 grew by more than half and 10 shrank. Only companies still filing are counted.
04
Labour cost
12%
of revenue goes on employee cost for the median filer (12% nationally), about the same labour intensity as across India.
05
Funding
6
toy manufacturers in India have outside funding on record at Fliar Radar (investment, incubator or grant support). Most frequent backers: Fluid Ventures (1), Bank of America (1), Bain Capital Private Equity (1).
06
Lending
18.3%
of India toy manufacturers have a secured loan on record (India: 18.3%). Most frequent lenders: Punjab National Bank (8), State Bank Of India (8), Bank Of India (8). Open borrowings against company assets total ₹10,845 crore.
07
Where the money is
73%
of reported revenue comes from Karnataka, which holds 9% of India's toy manufacturers.
Cities with the most toy manufacturers
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Delhi
77
22.7%
₹146 crore
7%
Maharashtra
66
19.5%
₹126 crore
6%
Karnataka
29
8.6%
₹1,620 crore
73%
Tamil Nadu
27
8.0%
₹234 crore
11%
Uttar Pradesh
23
6.8%
₹44.7 lakh
0%
Gujarat
17
5.0%
₹68.4 crore
3%
West Bengal
17
5.0%
₹5.3 crore
0%
Telangana
13
3.8%
₹13.7 crore
1%
Madhya Pradesh
11
3.2%
₹46.4 lakh
0%
Haryana
8
2.4%
–
–
Toy Manufacturers in India by size
From the latest accounts each company has filed, split by annual revenue. Growth compares with the year before; net margin is profit after tax over revenue.
Toyotetsu India Auto Parts Private Limited is a private company incorporated in 2008, with its registered office in Karnataka, India, classified under motor vehicles & parts. In FY25 it reported revenue of ₹1,053 crore, up 2% on the year before, with a net margin of 2.3%.
Revenue (FY25)₹1,053 crore
Growth vs prior year+2%
Net margin2.3%
Net worth₹483 crore
Paid-up capital₹306 crore
AreaKarnataka
Incorporated2008 · Private company
Directors on recordAtsushi Ozawa, Satoru Uchida, Masayuki Miyake5 directors
Toyotetsu India Private Limited is a private company incorporated in 1998, with its registered office in Karnataka, India, classified under motor vehicles & parts. In FY24 it reported revenue of ₹556 crore, up 13% on the year before, with a net margin of 3.3%.
Revenue (FY24)₹556 crore
Growth vs prior year+13%
Net margin3.3%
Net worth₹57 crore
Paid-up capital₹54.1 crore
AreaKarnataka
Incorporated1998 · Private company
Secured loans1 open
Directors on recordMasayuki Miyake, Hiromi Sugimoto, Rikuo Takada4 directors
Mplastics Toys And Engineering Private Limited is a private company incorporated in 2021, with its registered office in Tamil Nadu, India, classified under rubber & plastics. In FY25 it reported revenue of ₹220 crore, up 81% on the year before, with a net margin of −19.8%.
Toyzone is manufacturer & distributor of toys. The company is licensed by multiple brands such as Disney Cars, Disney Princess, Intex, Toy story, Micky Mouse, Doraemon etc. The products include baby furniture, gear, board games, dolls, electronic toys, kitchen sets, ride-on, tricycles, etc. It sells its product online & through the network of various offline retailers.
Toy Zone Impex Private Limited is a private company incorporated in 2001, with its registered office in Delhi, India, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹90.5 crore, down 3% on the year before, with a net margin of 4.0%.
Revenue (FY25)₹90.5 crore
Growth vs prior year−3%
Net margin4.0%
Net worth₹36.5 crore
Paid-up capital₹1 crore
AreaDelhi
Incorporated2001 · Private company
Brand founded2002
Secured loans11 open
Key peopleLovejeet Sharma (Co-Founder & Director)
Founders & leadershipLLovejeet Sharma1 person
LS
Lovejeet Sharma
Co-Founder & Director
Currently Founder
ProductsDeluxe Doll House, Little Micky Tricycle +35 products
Manufacturer of high-quality, safe toys. The company specializes in crafting toys that inspire creativity and joy. It adheres to international social and technical compliance. The business is committed to exceeding customer and supplier expectations.
Aditi Toys Private Limited is a private company incorporated in 2017, with its registered office in Gujarat, India, classified under furniture & other manufacturing. In FY25 it reported revenue of ₹68.4 crore, up 19% on the year before, with a net margin of 2.0%.
Revenue (FY25)₹68.4 crore
Growth vs prior year+19%
Net margin2.0%
Net worth₹18.4 crore
Paid-up capital₹1.3 crore
AreaGujarat
Incorporated2017 · Private company
Brand founded2015
BackingSeed 2026
Secured loans1 open
Key peopleKanaksingh Zala (Co-Founder); Subhashbhai Zala (Co-Founder)
Founders & leadershipKSAKanaksingh Zala, Subhashbhai Zala, Arvind Zala3 people
KZ
Kanaksingh Zala
Co-Founder
Currently Founder
ProfileCo-Founder-Aditi Toys
SZ
Subhashbhai Zala
Co-Founder
Currently Founder
ProfileCo-Founder-Aditi Toys
AZ
Arvind Zala
Co-Founder & Director
Currently Founder
ProfileCo-Founder & Director-Aditi Toys
ProductsPrinted Pull Back Plane…, DIY Coffee cup Toys -… +35 products
Manufacturer of specialty aluminium paste and aluminium powder products. The company produces a range of leafing and non-leafing grade aluminium products. It offers quality assurance, product safety, and environmental management. The company develops new color effects and functionalities with aluminium-based substrates.
Toyal Mmp India Private Limited is a private company incorporated in 2016, with its registered office in Maharashtra, India, classified under furniture & other manufacturing. In FY25 it reported revenue of ₹60.7 crore, up 3% on the year before, with a net margin of 2.9%.
Revenue (FY25)₹60.7 crore
Growth vs prior year+3%
Net margin2.9%
Net worth₹21.8 crore
Paid-up capital₹27 crore
AreaMaharashtra
Incorporated2016 · Private company
Brand founded2021
Directors on recordArun Raghuvirraj Bhandari, Jun Kusui, Mayank Arun Bhandari6 directors
Arun Raghuvirraj BhandariManaging Director · since 2016
Webby Toys Store is an online shopping platform that offers a variety of toys for girls and boys, designed to promote positive development and growth in young minds. They carefully craft toys to provide children with enjoyable and educational play experiences.
Saffire Toys Private Limited is a private company incorporated in 2016, with its registered office in Delhi, India, classified under business services (consulting, advertising, staffing). Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer of plastic injection molded components, decorated parts, and assembled toys. The company offers engineering design, tool development, plastic injection, pad printing, and paint decoration processes. It also provides skilled assembly and quality control to ensure product delivery. The business focuses on consolidation of systems, professional management practices, and human resource practices.
Omnia Toys India Private Limited is a private company incorporated in 2022, with its registered office in Maharashtra, India, classified under rubber & plastics. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMaharashtra
Incorporated2022 · Private company
Brand founded2009
Directors on recordNitin Jitendra Gupta, Paolo Sunino, Ajit Surendra Danole3 directors
Nitin Jitendra GuptaDIRECTOR · since 2022
Paolo SuninoDIRECTOR · since 2022
Ajit Surendra DanoleAdditional Director · since 2022
06 · FY25 accounts · Maharashtra
Z
Zephyr Toymakers Private Limited
Established in the year 2004 , we “Zephyr Toy Makers Private Limited ”, have become a reputed manufacturer and supplier of Educational Kits & Toys . These products are available in a wide range such as Metal Mechanix Cars, Plastic Mechanix Cars, Mechanix Pocket Series Cars, Plastic Alphabet Box, Alpha Numero Boards, Big Writing Boards and Doctor Sets . Along with these products, we also offer Animal Kingdom Stamp It, Memory Skill Games, Mastermind Games, Mathematics Puzzles, Shapes & Colors, Funcils, Electro Magnetix Toy Set and Mini Sand Craft Birds & Animals .
Zephyr Toymakers Private Limited is a private company incorporated in 2001, with its registered office in Maharashtra, India, classified under rubber & plastics. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMaharashtra
Incorporated2001 · Private company
Secured loans2 open
OffersMechanix 04 Master, M- Battle Station 01 Master Toy, Machanix Eiffel Tower Master Copy Toy, M-M-Monster-Buggies Master Copy Toy
Directors on recordSamina Zaheer Gabajiwala, Zaheer Abdul Husein Gabajiwala, Moiz Zaheer Gabajiwala4 directors
Samina Zaheer GabajiwalaDirector · since 2001
Zaheer Abdul Husein GabajiwalaManaging Director · since 2001
Moiz Zaheer GabajiwalaDirector · since 2006
Abbas Zaheer GabajiwalaDirector · since 2009
ProductsM- Battle Station 01 Master…, Machanix Eiffel Tower… +35 products
Product 01 / 05
M- Battle Station 01 Master Toy
CategoryEducational Toys
Price₹100
Range5 products listed by Zephyr Toymakers
Product 02 / 05
Machanix Eiffel Tower Master Copy Toy
CategoryEducational Toys
Price₹100 per piece
Range5 products listed by Zephyr Toymakers
Product 03 / 05
M-M-Monster-Buggies Master Copy Toy
CategoryEducational Toys
Price₹90 per piece
Range5 products listed by Zephyr Toymakers
Product 04 / 05
M- Motor Bike 01 Master Toy
CategoryEducational Toys
Price₹150 per piece
Range5 products listed by Zephyr Toymakers
Product 05 / 05
Mechanix 04 Master
CategoryEducational Toys
PriceOn request
Range5 products listed by Zephyr Toymakers
1 / 5
Financials locked for 6 of 9 mid-size toy manufacturersRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
Online platform offering handcrafted toys for kids. Its product offerings include wooden toys, puzzle & games, art & craft, card games, 3D puzzles, and more. The company also offers a subscription-based plan.
Shumee Toys Private Limited is a private company incorporated in 2014, with its registered office in Karnataka, India, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹9.6 crore, up 48% on the year before, with a net margin of −19.6%.
Internet first brand offering activity boxes for kids. The company provides craft projects for kids, including farm craft kits, princess-themed arts and crafts, and unicorn craft kits.
Jackinthebox Toys Private Limited is a private company incorporated in 2019, registered in India, classified under furniture & other manufacturing. In FY25 it reported revenue of ₹7 crore, up 128% on the year before, with a net margin of 2.6%.
Ultra Soft Toys is a leading manufacturer of soft toys, offering a wide range of cuddly and adorable products for babies, kids, and adults alike. The company specializes in creating plush toys with exceptional softness and durability, making them ideal for gifting and personal use. With a strong presence in India, Ultra Soft Toys is committed to providing high-quality products that bring joy and comfort to its customers.
Ultra Toys & Gifts Private Limited is a private company incorporated in 2017, with its registered office in Maharashtra, India, classified under other services. In FY25 it reported revenue of ₹5.5 crore, down 30% on the year before, with a net margin of −19.9%.
Online retailer offering kids toys and games. The product catalog includes interactive toys, baby & toddler toys, dolls & accessories, costumes & masks, musical toys, playsets, puzzles, soft toys, train & railway sets, remote-controlled cars, card games, collectibles, and more from various brands.
S M Funcorp Toys Private Limited is a private company incorporated in 2022, with its registered office in West Bengal, India, classified under retail trade. Its latest accounts on file are for FY24; revenue, growth and margin are locked below.
Bloon Toys is an internet-first brand of wooden toys for kids. Product catalogue includes zen blocks, slingshots & felt balls, tree blocks, curvy boards, and more. The company specializes in designing products which are made up of wood from pruned trees.
Bloon Toys Private Limited is a private company incorporated in 2022, with its registered office in Maharashtra, India, classified under furniture & other manufacturing. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMaharashtra
Incorporated2022 · Private company
Brand founded2018
Key peopleIsha Gopal (Founder and Play Maker)
OffersPikler Triangle collection, Climbing frames and accessories, Original Waldorf inspired balance boards, Simple animal forms
Toyam Technologies India Pvt. Ltd. is a professionally managed company providing solutions for water reuse, oxygen generation, fluoride removal, and more. They are known for their unique adsorption technology developed by BARC and are a technology agnostic company partnering with Bhabha Atomic Research Centre.
Toyam Technologies India Private Limited is a private company incorporated in 2013, with its registered office in Maharashtra, India, classified under machinery & equipment. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMaharashtra
Incorporated2013 · Private company
Secured loans1 open
OffersWater Management, Air Treatment, Solid Waste Management, Community Drinking water with ATM
Directors on recordSurya Vanu Dalal, Kumar Priya Ranjan, Debiprasad Mishra4 directors
Secured loans registered against company assets. The median open loan is ₹1.6 crore.
Lender
Companies
Loans
Open borrowings
Punjab National Bank
8
47
₹6,797 crore
State Bank Of India
8
14
₹4.8 crore
Bank Of India
8
9
₹122 crore
Oriental Bank Of Commerce
6
16
₹398 crore
Union Bank Of India
6
11
₹206 crore
Kotak Mahindra Bank
6
6
₹25.3 crore
Indian Bank
5
8
₹2.9 crore
HDFC Bank
5
6
₹10.7 crore
Backed toy manufacturers in India
Companies with venture, private-equity, incubator or grant funding on Fliar Radar, most recent rounds first.
Company
Backing
Latest round
Backers on record
Named backers
Aditi Toys
Seed
Seed · 2026-01
–
–
JackInTheBox Crafts
Corporate
Seed · 2024-06
3
–
Shumee
VC-Backed
Seed · 2021-12
–
–
DICE Toy Labs
Accelerator-Backed
Seed · 2019-06
–
–
Mattel
Public
Post IPO · 2018-04
5
Bank of America, Bain Capital Private Equity
Technybirds
Accelerator-Backed
Seed · 2017-12
1
IIM Lucknow Enterprise Incubation Center
Frequently asked questions
How many toy manufacturers are there in India?
The register lists 339 active toy manufacturers in India; 33 have filed accounts and 33 are tracked in Radar.
What is the biggest of the toy manufacturers in India?
By latest revenue: Toyotetsu India Auto Parts Private Limited (₹1,053 crore, FY25); Toyotetsu India Private Limited (₹556 crore, FY24); Mplastics Toys And Engineering Private Limited (₹220 crore, FY25).
How much revenue do toy manufacturers in India generate?
The 33 companies with accounts on file reported ₹2,222 crore in their latest year; the median is ₹4.7 crore and the top ten make up 97%.
Are toy manufacturers in India profitable?
56% of filers reported a profit and the median net margin is 1.1%; median revenue growth is +11%.
Which city in India has the most toy manufacturers?
Delhi (77); Maharashtra (66); Karnataka (29).
Which banks lend to toy manufacturers in India?
Punjab National Bank (8 companies); State Bank Of India (8 companies); Bank Of India (8 companies); Oriental Bank Of Commerce (6 companies).
Companies come from the Ministry of Corporate Affairs register (active companies; incorporations through 2022). Revenue, profit and net worth are the latest statutory accounts on file for companies that file them, standalone where available; companies without accounts are not in revenue figures. Secured loans are charges registered against company assets. Hiring is from Fliar Radar job tracking. Directory figures come from business-directory listings collected in 2026 (reviews to 2021). Counts are a floor: some incorporation years are only partly covered.
