About Abg Shipyard Ltd
Data last updated:
Abg Shipyard Ltd is a public limited company based in Surat, Gujarat, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the shipbuilding and repair services segment of the transport and logistics sector. It was incorporated on 15 March 1985.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L61200GJ1985PLC007730. Its GSTIN is 24AACCA2731P4ZM (Gujarat). The company holds 6 GST registrations, of which 1 is active. It is recorded as listed by MCA, but its shares were delisted from NSE on 02 Mar 2020 · winding up and from BSE on 19 Oct 2020 · compulsory delisting, and no longer trade on a stock exchange.
The company has an authorised share capital of ₹17,000 Cr and a paid-up capital of ₹201.5 Cr. It was formerly known as Magdala Shipyard Private Limited and Abg Shipyard Private Limited. It is led by directors including Ravi Vimal Nevatia and Sushilkumar Agarwal.
Its last annual general meeting (AGM) was held on 19 September 2016, and its latest financial statements are for the year ended 31 March 2016. The registered office is at Magdala Villageoff Dumas Road, Surat, Gujarat, India – 395007.
As per the financials filed for FY 2018, the company reported a revenue of ₹8.75 Cr, a decline of 58% compared to the previous year. For the same year it recorded a net loss of ₹3,704.71 Cr and EBITDA of -₹2,785.45 Cr. Revenue has declined at a compounded annual rate (CAGR) of 72% over three years.
Its group structure includes 4 subsidiaries.
The company is associated with 1 brand: ABG Shipyard. As per MCA filings, the company has open charges of ₹32,914 Cr and satisfied charges of ₹1,750.02 Cr on record. Court records list 311 cases involving the company, including 58 filed by the company and 253 filed against it; 40 cases are pending. The company has 40 deals on record (28 market trades, 10 funding rounds, 1 acquisition), with disclosed funding of ₹419.43 Cr; the latest was in December 2022.
The last known website on record is abgindia.com.
Company details
Name history
Abg Shipyard has undergone 2 name changes throughout its history. The company was previously known as Magdala Shipyard Private Limited, and Abg Shipyard Private Limited. The current legal name is Abg Shipyard Ltd.
| Company Name | Status |
|---|---|
| Abg Shipyard Ltd | Current |
| Magdala Shipyard Private Limited | Previous |
| Abg Shipyard Private Limited | Previous |
Contact details
Abg Shipyard Ltd's registered office is in Surat, Gujarat. Its website is abgindia.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressMagdala Villageoff Dumas Road, Surat, Gujarat, India – 395007
- IndustryTransport and Logistics, Shipbuilding & Repair Services
To see the full contact details of Abg Shipyard Ltd, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Abg Shipyard operates one associated brand: ABG Shipyard. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ships are constructed by ABG Shipyard in the private sector. | abgindia.com |
Business activity
The main business activity of Abg Shipyard is manufacturing. In detail, this covers motor vehicles, trailers, semi trailers and other transport vehicles.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles |
To see the full business activity and turnover split of Abg Shipyard Ltd, buy the company report.
Financials of Abg Shipyard Ltd
FY 2016 filings availableAbg Shipyard Ltd reported revenue of ₹8.75 Cr (down 58% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 72% over three years, including a 58% fall in the latest year. EBITDA fell 888% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| EBITDA | -₹2,785.45 Cr | |||
| Profit Before Tax | ||||
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| Net Profit (PAT) | -₹3,704.71 Cr | |||
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Financial Ratios
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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To see the full financial statements and ratios of Abg Shipyard Ltd, buy the company report.
Board of directors of Abg Shipyard Ltd
Abg Shipyard has 3 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ravi Vimal Nevatia Also directs: Sanjana Cryogenic Storages Limited | Director | 13 Aug 2015 | 11 Years 2 Months | As last reported |
| Sushilkumar Agarwal | Director | 18 May 2015 | 11 Years 5 Months | As last reported |
| Rishi Kamlesh Agarwal | Director | 11 Feb 1989 | 37 Years 8 Months | As last reported |
Auditor
Abg Shipyard Ltd is audited by NISAR & KUMAR for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| NISAR & KUMAR | FY 2016 | 107117W |
Shareholding
The shareholding of Abg Shipyard Ltd is on record for FY 2016, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2016 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Abg Shipyard Ltd, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Jan 2015 | 10566621 | Il & Fs Trust Company Limited | ₹50 Cr | Open | |
| 01 Sep 2014 | 10522423 | 3I Infotech Trusteeship Services Limited | ₹15,839 Cr | Open | |
| 05 Apr 2014 | 10501785 | Indian Overseas Bank | ₹21 Cr | Open | |
| 04 Dec 2013 | 10463186 | Icici Bank Limited | ₹600.2 Cr | Open | |
| 09 Aug 2013 | 10441727 | Srei Infrastructure Finance Limited | ₹40 Cr | Open |
To see the full charge records of Abg Shipyard Ltd, buy the company report.
Total charge records: 67 View all charges
Deals & funding
Abg Shipyard Ltd has 40 deals on record (28 market trades, 10 funding rounds, 1 acquisition), with disclosed funding of ₹419.43 Cr; the latest was in December 2022.
Deals on record (5 of 40)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2022 | Acquisition | Undisclosed | Buyer: Welspun Corp Limited , Nauyaan Shipyard Private Limited Seller: Abg Shipyard Ltd |
| May 2016 | Market trade | ₹2.77 Cr | Seller: Ecl Finance Limited |
| May 2016 | Market trade | ₹1.29 Cr | Seller: Ecl Finance Limited |
| Sep 2015 | Market trade | ₹22.6 Cr | Buyer: Strategic Credit Capital Private Limited Seller: an individual |
| Aug 2015 | Funding round | ₹4.24 Cr | Investors: State Bank of India, Punjab National Bank, State Bank Of Travancore |
To see the full deal history of Abg Shipyard Ltd, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Abg Shipyard Ltd has 311 court cases on record: 58 filed by Abg Shipyard, 253 filed against it. 40 cases are pending and 271 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 184 | 164 | 31 |
| High courts | 94 | 65 | 4 |
| NCLT | 21 | 14 | 2 |
| Supreme Court | 10 | 9 | 3 |
| NCLAT | 2 | 1 | 0 |
Cases on record (5 of 311)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Special civil application | Filed against the company by Am Mining India Private Limited | Pending |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed against the company by Aqua Machineries Pvt. Ltd. Through Its Authorised Person Basant Badriprasad Maourya (Manager) | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary case) | Filed against the company by Ifci Ltd. | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed against the company by Welspun Steel Resources Pvt. Ltd. | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed against the company by Starlog Enterprises Limited | Disposed |
To see the full case history of Abg Shipyard Ltd, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Abg Shipyard Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Abg Shipyard has 4 subsidiary companies and 2 associated companies. This group structure data is as of FY 2016. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Western India Shipyard Limited | L35111GA1992PLC002464 | |
| Western India Shipyard Limited | L35111GA1992PLC002464 | |
| Sanyukta Shipping & Logistics Private Limited | U11100MH2012PTC225894 | |
| Sanyukta Shipping & Logistics Private Limited | U11100MH2012PTC225894 |
To see the full group structure of Abg Shipyard Ltd, buy the company report.
Employees & EPFO
Abg Shipyard Ltd has 2 active EPFO establishments as of Apr 01, 2024.
GST
Abg Shipyard has 6 GST registrations: 1 active and 5 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCA2731P4ZM | Gujarat | Active | 21 Feb 2020 |
To see the full GST registrations and return filing status of Abg Shipyard Ltd, buy the company report.
Recent activity
Abg Shipyard Ltd has 47 board changes on record since 1989: 25 appointments and 22 cessations. The latest: Ashwani Kumar ceased to be Director on 28 Sep 2017.
154 earlier events are in the company report.
News
Frequently asked questions
Abg Shipyard is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Abg Shipyard is a company under liquidation, formerly operating as a public limited company based in Surat, Gujarat, India. The company works in shipbuilding and repair services, within the transport and logistics industry. It was incorporated on 15 March 1985 and is registered under CIN L61200GJ1985PLC007730. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Abg Shipyard has 3 current directors:
- Ravi Vimal Nevatia - Director
- Sushilkumar Agarwal - Director
- Rishi Kamlesh Agarwal - Director
The latest financial statements of Abg Shipyard on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 19 September 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Abg Shipyard is L61200GJ1985PLC007730. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Abg Shipyard is recorded as a listed company by MCA, but its shares were delisted from NSE on 02 Mar 2020 · winding up and from BSE on 19 Oct 2020 · compulsory delisting, and no longer trade on a stock exchange.
Abg Shipyard has open charges of ₹32,914 Cr and satisfied charges of ₹1,750.02 Cr as per latest MCA filings.
Abg Shipyard has 311 court cases on record: 58 filed by the company and 253 filed against it. 40 are pending. Most are in the district courts.
Abg Shipyard was incorporated on 15 March 1985. It is registered with the Registrar of Companies, Ahmedabad.
Abg Shipyard has 40 deals on record (28 market trades, 10 funding rounds, 1 acquisition), with disclosed funding of ₹419.43 Cr; the latest was in December 2022.