Mumbai's stock rarely sits where the company does. The office is in Andheri or BKC; the stock is in a Bhiwandi godown, a Taloja plant, a Turbhe warehouse and a container yard near Nhava Sheva. Counting it means counting in four places, on the same date, with someone who can get to all of them.
CorporateWalla runs stock audits and physical inventory verifications across Mumbai and the wider MMR — own warehouses, 3PL godowns, factory stores, retail back rooms and stock held at job workers — with a documented cut-off, signed count sheets, a book-versus-physical reconciliation and a report you can hand to your lender, your statutory auditor or your board.
Warehousing and 3PL operators in Bhiwandi. Bhiwandi is India's largest warehousing cluster and took roughly 91% of MMR warehouse leasing in the second half of 2025. Most of the stock in those sheds belongs to somebody else — e-commerce sellers, FMCG brands, retailers — which means two different parties need the count: the brand, for its books and its lender, and the 3PL, for its own bailee liability. We count for both, and we keep the evidence separable.
Chemical and pharmaceutical manufacturers at Taloja, TTC and Andheri MIDC. Taloja is heavy chemicals; TTC, covering Turbhe and Rabale, mixes chemicals, engineering, pharma and food processing; Andheri MIDC runs pharmaceuticals, electronics and consumer goods. Each of those has a counting problem the next does not — tank dips and density conversions in chemicals, batch and expiry identity in pharma, serial numbers in electronics.
Importers and traders facing JNPT. Jawaharlal Nehru Port is India's largest container port, with over 10 million TEU of capacity and a record throughput year in 2025. If your business runs on imports, a meaningful part of your stock is always in transit, in a CFS, or bonded — and none of it can simply be counted.
Commodity traders at APMC Vashi. The Mumbai APMC runs five market yards; the grain market alone has 412 shop blocks and 356 office blocks. Stock here is bagged, weighed and moves fast, and the working day starts early.
Jewellery and gems businesses around BKC. The Bharat Diamond Bourse occupies 8.1 hectares across 26 towers with around 2,500 traders and handles the overwhelming majority of India's diamond exports. Verification here is by weight and purity, under security constraints, and sampling is not a defensible basis.
Engineering and light manufacturing at Wagle Estate, Thane and Kandivali. Engineering, plastics, printing and consumer goods, with stock spread between a works store and a shop floor. Retail and quick commerce across the city adds store back rooms and dark stores, counted before opening or after close.
| Belt | What's there | Counting characteristics |
|---|---|---|
| Bhiwandi | India's largest warehousing cluster; Grade A and Grade B sheds; e-commerce, FMCG, retail, 3PL. On NH-3 and NH-48 | High SKU counts, third-party-owned stock, night counts common |
| Taloja (Raigad / Navi Mumbai) | Heavy chemicals, automotive, food processing, engineering | Bulk and liquid measurement; hazardous-area access rules |
| TTC Industrial Area — Turbhe, Rabale | Chemicals, engineering, pharma, IT, food processing. Around 15 km from JNPT | Mixed unit types; multi-building sites |
| Andheri MIDC | Pharmaceuticals, electronics, consumer goods | Batch and expiry, serialised stock, tight floor space |
| Wagle Industrial Estate, Thane | Engineering, plastics, chemicals, printing, FMCG | Works store plus shop floor; WIP conventions matter |
| Kandivali Industrial Estate | Textiles, engineering, consumer goods | Mixed stock types |
| Panvel and Kalamboli | Logistics corridor on the Mumbai–Pune Expressway; steel trading at Kalamboli | Weighbridge-based quantification for steel |
| Patalganga | Chemicals, engineering, heavy industry, around 60 km out | Travel scheduling; bulk measurement |
| Vasai–Virar | Industrial and warehousing node in northern MMR | Multi-unit compounds |
| APMC Vashi | Five market yards — grain, onion and potato, fruit, vegetable, spices | Bag counts, standard weights, very early working hours |
| BKC and the Bharat Diamond Bourse | Diamonds, gems, jewellery | Weight and purity; security-controlled access |
| JNPT and the Nhava Sheva corridor | India's largest container port | Goods in transit, CFS-held and bonded stock — reconciled to documents, not counted |
Also covered: Chembur, Mahape, Ambernath, Badlapur, Khopoli, Bhayandar and the Mira Road belt.
This is where most Mumbai stock audits are actually won or lost, so it is worth setting out properly.
Stock in a Bhiwandi 3PL godown is yours and in someone else's custody. You cannot instruct the site. The count has to be arranged with the 3PL, the cut-off has to be agreed with the 3PL, and the count sheets need the 3PL custodian's signature alongside ours — otherwise the evidence proves nothing to your auditor or your lender. Where the sanction terms of a working capital facility do not permit stock at third-party premises to count toward security, that stock also has to be identified and excluded from drawing power, which is a separate exercise on top of the count. See bank stock audit.
Bhiwandi sheds are large and mixed. A single facility routinely holds inventory belonging to several principals in adjacent bays. Counting yours means being certain you are not counting theirs — so bay and bin identification comes before counting, not during it.
Goods in transit to and from JNPT cannot be counted at all. Containers on the water, containers at the port, containers at a CFS awaiting clearance, and bonded stock each sit in a different legal and documentary position at the cut-off moment. These are reconciled to bills of lading, bills of entry, CFS records and transporter documents, and reported as a separate schedule with its own basis stated. A stock audit that quietly rolls goods in transit into the counted figure is not reconcilable, and your auditor will find that out before you do.
Traffic is part of the plan. Bhiwandi to Taloja to Turbhe is not a morning. Multi-site counts across MMR are scheduled with realistic travel, or they are scheduled as simultaneous counts with separate teams — which is the better answer when stock can move between your own locations.
Two requests come up in Mumbai more than anywhere else.
Night and early-morning counts. Bhiwandi warehouses dispatch through the day. APMC trades from before dawn. Retail cannot count with customers in the aisle. Counts are routinely scheduled overnight, before opening, or in the gap between shifts. Tell us at the scoping stage — it changes team size and cost, and it is much cheaper to plan for than to retrofit.
Same-date counts across MMR. If you hold stock in Bhiwandi and Turbhe and Taloja, counting them on three different dates leaves two windows in which a shortage at one site can be covered by a transfer from another. Counting them simultaneously closes those windows. This is the single most useful thing a multi-site Mumbai business can ask for, and very few do.
Full detail on every step: our stock audit process.
| Driver | Mumbai specifics |
|---|---|
| Number of locations | The biggest driver anywhere, and MMR businesses typically have more sites than they think — count the 3PL bays and the job workers |
| SKU count | Bhiwandi e-commerce and FMCG stock runs to very high line counts |
| Nature of stock | Chemicals measured by dip, steel by weighbridge, diamonds by weight and purity, pharma by batch — all slower than boxed units |
| Timing | Night, pre-opening and weekend counts need larger teams |
| Travel within MMR | Bhiwandi, Taloja and Patalganga are genuinely distant from each other; simultaneous counts need parallel teams |
| Third-party sites | 3PL coordination and custodian sign-off add time before the count starts |
| Goods in transit | Document-based reconciliation is a separate workstream from counting |
| Report format | A lender-format report with drawing power workings is wider in scope than a management reconciliation |
Professional fee from ₹7,999, excluding GST. We quote a written scope and fee before starting, with out-of-pocket costs stated separately. A stock audit carries no government fee — it is not a filing.
We are a national practice operating under DSG Corporate Financial Advisors LLP, with our office at 129A, Bangur Avenue, Block A, Kolkata 700055. Mumbai engagements are serviced by teams travelling to your locations, and travel is quoted transparently at the scoping stage rather than buried in the fee.
We would rather tell you that than claim a Mumbai address we do not have. Several pages you will find on this subject list city offices that turn out to be a landing page and a phone number. See also CorporateWalla in Mumbai.
Scoping usually takes a day or two once we have your location list and stock ledger. Fieldwork is scheduled around your operations and, in March and September, around everyone else — year-end and half-year counts book out early, so start the conversation before the month you need it.
Professional fee from ₹7,999, excluding GST. The fee moves with the number of locations, SKU count, nature of the stock, whether the count is full or sampled, timing, and travel within MMR. Tell us sites and SKU count and you get a written scope and fee, usually the same working day.
Bhiwandi, Taloja, TTC (Turbhe and Rabale), Andheri MIDC, Wagle Estate Thane, Kandivali, Panvel, Kalamboli, Patalganga, Vasai–Virar, APMC Vashi, BKC, and the JNPT corridor — plus Chembur, Mahape, Ambernath, Badlapur and Khopoli.
Yes, and where stock can move between your own MMR locations you should ask for it. Counting Bhiwandi on Monday and Turbhe on Thursday leaves a window in which a shortage at one can be covered by a transfer from the other.
The count is arranged with the 3PL, the cut-off is agreed with them, and count sheets carry their custodian's signature alongside ours. Where your facility's sanction terms restrict stock at third-party premises from counting toward security, that stock is separately identified and excluded from the drawing power computation.
It is not counted. Containers in transit, at the port, at a CFS, or bonded are each reconciled to the relevant documents — bill of lading, bill of entry, CFS records, transporter documents — and reported as a separate schedule with the basis stated.
Yes — overnight, before opening, at weekends, or between shifts. Bhiwandi and retail counts are frequently run this way. Say so at the scoping stage, because it affects team size and cost.
Yes. Job-work stock is confirmed directly with the processor and, where access permits, attended at their site. It stays on your books and it must appear on your reconciliation.
Where the engagement is lender-driven, the report is prepared in the format the sanction terms and the bank's instructions require, including drawing power workings. Acceptance rests with your bank, and where the bank requires a firm from its own panel we will tell you at the first call rather than after the work.
No. Our office is in Kolkata and Mumbai engagements are serviced by travelling teams, with travel quoted openly. We would rather say that than claim an address we do not staff.
Tell us what you need and a real CA calls you back, with no scripts and no transfers. Call 72783 76654. Mon - Sat, 10:00 AM - 7:00 PM IST.
Reviewed by the CA and CS Team, CorporateWalla · Last updated 12 September 2026 · · Sources: MCA — CARO 2020, RBI — Master Circular on Management of Advances, ICAI — SA 501, CBIC — CGST Rules
Canonical: https://corporatewalla.com/services/stock-audit/mumbai
