About Ace Manufacturing Systems Limited
Data last updated:
Ace Manufacturing Systems Limited was a public limited company based in Bangalore, Karnataka, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the industrial machine tools segment of the machinery and industrial equipment sector. It was incorporated on 07 March 1994.
The company was registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA1994PLC015321. Its GSTIN is 29AACCA3584G1ZL (Karnataka).
The company had an authorised share capital of ₹1.5 Cr and a paid-up capital of ₹76.4 Lakh. It was led by directors including Ramadas Puttige (Managing Director) and Lagadamane Shankarnarayana Umesh (Whole-Time Director).
Its last annual general meeting (AGM) was held on 20 May 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office was at Bangalore, Karnataka.
As per the financials filed for FY 2023, the company reported a revenue of ₹885.85 Cr, a growth of 28% compared to the previous year. For the same year it recorded a net profit of ₹58.6 Cr (net margin 6.6%) and EBITDA of ₹83.34 Cr (EBITDA margin 9.4%). Revenue has grown at a compounded annual rate (CAGR) of 31% over three years and 11% over five years.
The company had about 513 employees on its provident fund (EPFO) records before it was dissolved.
As per MCA filings, the company had satisfied charges of ₹97.25 Cr on record. Court records list 13 cases involving the company, including 5 filed by the company and 8 filed against it. The company has 2 deals on record (1 rights issue, 1 secondary share transfer); the latest was in September 2014. Its 7 peer companies in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 2 larger and 5 smaller; the largest is Ace Designers Limited with revenue of ₹2,372.01 Cr. The company has 10 MSME Form 1 returns on record between 2019 and 2022, listing 291 overdue payments to 44 micro and small suppliers.
The last known website on record is acemicromatic.net.
Company details
CIN history
Ace Manufacturing Systems has one previous CIN (Corporate Identification Number): U02922KA1994PTC015321. The current CIN is U85110KA1994PLC015321, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85110KA1994PLC015321 | Current |
| U02922KA1994PTC015321 | Previous |
Contact details
Ace Manufacturing Systems Limited's registered office is in Bangalore, Karnataka. Its website is acemicromatic.net. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressPlot No. 467 – 469 12th Cross 4th Phase, Peenya Induatrail Area India, Bangalore, Karnataka, India – 560058
- IndustryMachinery and Equipment, Industrial Machine Tools
To see the full contact details of Ace Manufacturing Systems 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
Business activity
The main business activity of Ace Manufacturing Systems is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Ace Manufacturing Systems Limited, buy the company report.
Financials of Ace Manufacturing Systems Limited
FY 2023 filings availableAce Manufacturing Systems Limited reported revenue of ₹885.85 Cr (up 28% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 11% over five years, including 28% growth in the latest year. EBITDA rose 28% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹885.85 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹83.34 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹58.6 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 9.4% | ||||
| Net Profit Margin | 6.6% | ||||
| 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 Ace Manufacturing Systems Limited, buy the company report.
Board of directors of Ace Manufacturing Systems Limited
Ace Manufacturing Systems has 8 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Lagadamane Shankarnarayana Umesh | Whole-Time Director | 11 Aug 2018 | 8 Years 2 Months | As last reported |
| Thirumalaimuppur Kuppuswamy Ramesh Also directs: Indian Machine Tool Manufacturers Association, Ace Designers Limited, Taurus Private Limited and 2 more | Director | 04 Aug 2007 | 19 Years 2 Months | As last reported |
| Shrinivas Shirgurkar Govindrao Also directs: Auto CNC Machining Limited, Indian Machine Tool Manufacturers Association, Pragati Transmission Private Limited. and 2 more | Director | 07 Mar 1994 | 32 Years 7 Months | As last reported |
| Shubha Rao Mayya Also directs: Ace Designers Limited, Stove Kraft Limited, Le Travenues Technology Limited and 1 more | Director | 11 Aug 2018 | 8 Years 2 Months | As last reported |
| Benedict Machado | Director | 07 Mar 1994 | 32 Years 7 Months | As last reported |
| Benne Gopal Rao Dwarakanath | Director | 01 Apr 2013 | 13 Years 6 Months | As last reported |
Peer comparison
Ace Manufacturing Systems Limited is compared with the 7 companies closest to it by revenue in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ace Designers Limited | ₹2,372.01 Cr (FY 2025) | 6.0% | Bangalore, Karnataka, India | |||
| Bharat Fritz Werner Limited | ₹1,455.9 Cr (FY 2025) | 6.0% | Bangalore, Karnataka, India | |||
| Ace Manufacturing Systems Limitedthis company | ₹885.85 Cr (FY 2023) | ₹58.6 Cr | 6.6% | 28.0% | 513 | Bangalore, Karnataka, India |
| Mtar Technologies Limited | ₹681.15 Cr (FY 2025) | 16.0% | Telangana, India | |||
| D B Machine Tools Private Limited | ₹659.26 Cr (FY 2025) | 9.0% | Kolkata, West Bengal, India | |||
| Cosmos Impex (India) Pvt Ltd | ₹563.26 Cr (FY 2025) | 11.0% | Vadodara, Gujarat, India | |||
| Gupta Machine Tools Private Limited | ₹482.43 Cr (FY 2025) | -10.0% | Kolkata, West Bengal, India | |||
| Batliboi Limited | ₹419.47 Cr (FY 2025) | 0.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Ace Manufacturing Systems Limited, buy the company report.
Auditor
Ace Manufacturing Systems Limited is audited by B K Ramadhyani & Co LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B K Ramadhyani & Co LLP | FY 2023 | 002878S/S200021 |
Shareholding
The shareholding of Ace Manufacturing Systems Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ace Manufacturing Systems Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Jan 2017 | 100075612 | Karnataka Bank Ltd. | ₹50 Cr | Satisfied | |
| 02 Sep 2005 | 80033899 | The Karnataka Bank Ltd | ₹20 Cr | Satisfied | |
| 22 Nov 1994 | 80046793 | Canara Bank | ₹27.25 Cr | Satisfied |
To see the full charge records of Ace Manufacturing Systems Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Ace Manufacturing Systems Limited has 2 deals on record (1 rights issue, 1 secondary share transfer); the latest was in September 2014.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2014 | Rights issue | ₹7.6 Lakh | Investors: 2 individuals |
| Jun 2010 | Secondary share transfer | Undisclosed | Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ace Manufacturing Systems Limited has 13 court cases on record: 5 filed by Ace Manufacturing Systems, 8 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 7 | 4 | 0 |
| High courts | 6 | 4 | 0 |
Cases on record (5 of 13)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against M/S Advance Mechanical Services Pvt Ltd | Disposed |
| High Court, UTTARPRADESH | Court case (WTAX) | Filed by the company against State of U P and 3 Others | Disposed |
| District court, BENGALURU RURAL, Karnataka | Civil suit | Filed by the company against an individual | Disposed |
| District court, BENGALURU RURAL, Karnataka | Civil suit | Filed against the company by an individual | Disposed |
| District court, BENGALURU RURAL, Karnataka | Civil suit | Filed against the company by individuals | Disposed |
To see the full case history of Ace Manufacturing Systems 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.
Credit ratings & regulatory alerts
Ace Manufacturing Systems Limited was last rated by Icra on 06 May 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 06 May 2022 |
To see the full credit ratings and regulatory alerts of Ace Manufacturing Systems Limited, buy the company report.
MSME payment delays
Ace Manufacturing Systems Limited has 10 MSME Form 1 returns on record between 2019 and 2022, listing 291 overdue payments to 44 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 44)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Ganesh Enterprises | |||
| Sur Armour Private Limited | |||
| Cauvery Petrochemicals Private Limited | |||
| Kabelschlepp India Private Limited | |||
| Precision Engineering Accessories |
To see the full MSME payment records of Ace Manufacturing Systems Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Ace Manufacturing Systems has 1 joint venture and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
Employees & EPFO
Ace Manufacturing Systems Limited has a workforce of 513 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
Ace Manufacturing Systems has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCA3584G1ZL | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ace Manufacturing Systems Limited, buy the company report.
Recent activity
Ace Manufacturing Systems Limited has 14 board changes on record since 1994: 8 appointments and 6 cessations. The latest: Rajesh Ramegowda ceased to be Company Secretary on 30 Sep 2021.
12 earlier events are in the company report.
Frequently asked questions
Ace Manufacturing Systems 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.
Ace Manufacturing Systems was a public limited company based in Bangalore, Karnataka, India. The company worked in industrial machine tools, within the machinery and equipment industry. It was incorporated on 07 March 1994 and is registered under CIN U85110KA1994PLC015321. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Ace Manufacturing Systems was incorporated on 07 March 1994. It is registered with the Registrar of Companies, Bangalore.
Ace Manufacturing Systems had 8 directors:
- Ramadas Puttige - Managing Director
- Lagadamane Shankarnarayana Umesh - Whole-Time Director
- Thirumalaimuppur Kuppuswamy Ramesh - Director
- Shrinivas Shirgurkar Govindrao - Director
- Shubha Rao Mayya - Director
- Benedict Machado - Director
- Benne Gopal Rao Dwarakanath - Director
- Chandra - Director
The CIN (Corporate Identification Number) of Ace Manufacturing Systems is U85110KA1994PLC015321. 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 Ace Manufacturing Systems is at Plot No. 467 – 469 12th Cross 4th Phase, Peenya Induatrail Area India, Bangalore, Karnataka, India – 560058.
Ace Manufacturing Systems can be reached through the website acemicromatic.net. Its registered office is in Bangalore, Karnataka, India.
The latest financial statements of Ace Manufacturing Systems on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 20 May 2023. Year-wise statements from 2015 are in the company report.
The GSTIN of Ace Manufacturing Systems is 29AACCA3584G1ZL, registered in Karnataka.
Ace Manufacturing Systems operated in the machinery and equipment industry, in the industrial machine tools segment.
Ace Manufacturing Systems has 2 deals on record (1 rights issue, 1 secondary share transfer); the latest was in September 2014.
The peers of Ace Manufacturing Systems by revenue are Ace Designers Limited, Bharat Fritz Werner Limited, Mtar Technologies Limited, D B Machine Tools Private Limited, Cosmos Impex (India) Pvt Ltd and 2 more, all in the Machinery and Equipment industry (Machine Tools), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).