About Accel IT Services Limited
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Accel IT Services Limited was a public limited company based in Chennai, Tamil Nadu, India, operated as a subsidiary of Accel Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 27 June 2013.
The company was registered with the Registrar of Companies (ROC), Chennai, under CIN U72900TN2013PLC091888. Its GSTIN is 33AADCE4435D1Z5 (Tamil Nadu). The company held 23 GST registrations, of which 3 are active.
The company had an authorised share capital of ₹4.5 Cr and a paid-up capital of ₹4.5 Cr. It was formerly known as Ensure Support Services (India) Limited. It was led by directors including Nagarajan Krishnamurthy and Narayana Pillai Reghoothama Panicker.
Its last annual general meeting (AGM) was held on 26 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at Chennai, Tamil Nadu.
As per the financials filed for FY 2022, the company reported a revenue of ₹1.57 Cr, a decline of 94% compared to the previous year. For the same year it recorded a net profit of ₹1.67 Cr (net margin 106.5%) and EBITDA of ₹1.1 Cr (EBITDA margin 70.2%). Revenue has declined at a compounded annual rate (CAGR) of 76% over three years and 58% over five years.
The company had about 8 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Ensure Support Services. As per MCA filings, the company had satisfied charges of ₹18 Cr on record. Court records list 17 cases involving the company, including 13 filed by the company and 4 filed against it; 6 cases are pending. The company has 7 deals on record (4 acquisitions, 3 secondary share transfers); the latest was in March 2021. The company has 11 MSME Form 1 returns on record between 2018 and 2021, listing 1,004 overdue payments to 24 micro and small suppliers.
The last known website on record is ensureservices.in.
Company details
Contact details
Accel IT Services Limited's registered office is in Chennai, Tamil Nadu. Its website is ensureservices.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressIII Floor Sfi Complex 178 Valluvar Kottam High Road Nungambak, Kam, Chennai, Tamil Nadu, India – 600034
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Accel IT Services Limited, 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
Accel IT Services operates one associated brand: Ensure Support Services. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| IT service suite solutions and managed printing services are provided. | ensureservices.in |
Financials of Accel IT Services Limited
FY 2022 filings availableAccel IT Services Limited reported revenue of ₹1.57 Cr (down 94% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 58% over five years, including a 94% fall in the latest year. EBITDA fell 63% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹1.57 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.1 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.67 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 70.2% | ||||
| Net Profit Margin | 106.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Accel IT Services Limited, buy the company report.
Board of directors of Accel IT Services Limited
Accel IT Services has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nagarajan Krishnamurthy | Director | 31 Jul 2021 | 5 Years 2 Months | As last reported |
| Narayana Pillai Reghoothama Panicker Also directs: Accel Limited, Medscape Pharma Private Limited, Cybolt Technologies Private Limited and 3 more | Director | 07 Sep 2020 | 6 Years 1 Months | As last reported |
| Sunkari Venkateswara Rao Also directs: Accel Limited, Secureinteli Technologies Private Limited, Cetronics Technologies Private Limited and 1 more | Director | 27 Jun 2013 | 13 Years 3 Months | As last reported |
Auditor
Accel IT Services Limited is audited by S K Ram Associates for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S K Ram Associates | FY 2022 | 2842S |
Shareholding
The shareholding of Accel IT Services Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Accel IT Services Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Nov 2020 | 100394776 | Others | ₹8 Cr | Satisfied | |
| 05 Aug 2015 | 10587085 | Others | ₹10 Cr | Satisfied |
To see the full charge records of Accel IT Services Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Accel IT Services Limited has 7 deals on record (4 acquisitions, 3 secondary share transfers); the latest was in March 2021.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Acquisition | Undisclosed | Buyer: Accel Limited Seller: Accel IT Services Limited |
| Jul 2020 | Acquisition | ₹31 Cr | Buyer: Accel Limited Seller: Redington Limited |
| Jul 2018 | Secondary share transfer | Undisclosed | Buyer: Redington Limited Seller: an individual |
| Jun 2015 | Acquisition | ₹2.45 Cr | Buyer: Redington Limited |
| Jan 2014 | Acquisition | ₹2 Cr | Buyer: Redington Limited |
To see the full deal history of Accel IT Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Accel IT Services Limited has 17 court cases on record: 13 filed by Accel IT Services, 4 filed against it. 6 cases are pending and 11 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 10 | 2 | 3 |
| District courts | 6 | 2 | 3 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 17)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Hyderabad CCC, Telangana | Civil suit | Filed against the company by Comwen Information Technologies Private Limited | Pending |
| High Court, TAMIL NADU | Arbitration matter | Filed against the company by Gi Staffing Services Private Limited M/S.S.Balasubramaniam, 9444115740,Sampath Rekha | Disposed |
| District court, Chennai, Tamil Nadu | Court case (COS) | Filed by the company against Comwen Information Techniques Private Limited | Pending |
| District court, Chennai, Tamil Nadu | Court case (COS) | Filed by the company against an individual | Pending |
| High Court, Kerala | Court case (OP(LC)) | Filed by the company against an individual | Pending |
To see the full case history of Accel IT Services Limited, 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
Accel IT Services Limited has 11 MSME Form 1 returns on record between 2018 and 2021, listing 1,004 overdue payments to 24 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Sri Sai Technologies | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Accel IT Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Accel IT Services Limited has a workforce of 8 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
GST
Accel IT Services has 23 GST registrations: 3 active and 20 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AADCE4435D1Z5 | Tamil Nadu | Active | 01 Jul 2017 |
| 29AADCE4435D1ZU | Karnataka | Active | 01 Jul 2017 |
| 36AADCE4435D1ZZ | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Accel IT Services Limited, buy the company report.
Recent activity
Accel IT Services Limited has 14 board changes on record since 2013: 3 appointments and 11 cessations. The latest: Nagarajan Krishnamurthy ceased to be Additional Director on 28 Sep 2021.
10 earlier events are in the company report.
Frequently asked questions
Accel IT Services has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Accel IT Services was a public limited company based in Chennai, Tamil Nadu, India. The company worked in IT consulting and support services, within the information technology industry. It was incorporated on 27 June 2013 and is registered under CIN U72900TN2013PLC091888. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Accel IT Services was incorporated on 27 June 2013. It is registered with the Registrar of Companies, Chennai.
Accel IT Services had 3 directors:
- Nagarajan Krishnamurthy - Director
- Narayana Pillai Reghoothama Panicker - Director
- Sunkari Venkateswara Rao - Director
The CIN (Corporate Identification Number) of Accel IT Services is U72900TN2013PLC091888. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Accel IT Services is at III Floor Sfi Complex 178 Valluvar Kottam High Road Nungambak, Kam, Chennai, Tamil Nadu, India – 600034.
Accel IT Services can be reached through the website ensureservices.in. Its registered office is in Chennai, Tamil Nadu, India.
The latest financial statements of Accel IT Services on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 26 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of Accel IT Services is 33AADCE4435D1Z5, registered in Tamil Nadu. The company has 23 GST registrations in all, of which 3 are active and 20 are cancelled or inactive. Other active GSTINs include 29AADCE4435D1ZU (Karnataka), 36AADCE4435D1ZZ (Telangana).
Accel IT Services operated in the information technology industry, in the IT consulting and support services segment.
Accel IT Services has 7 deals on record (4 acquisitions, 3 secondary share transfers); the latest was in March 2021.