About Ambition Mica Limited
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Ambition Mica Limited is a public limited company based in Ahmedabad, Gujarat, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the wood products and mdf segment of the manufacturing sector. It was incorporated on 19 March 2010.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L25202GJ2010PLC059931. Its GSTIN is 24AAICA4724A1Z9 (Gujarat). It is recorded as listed by MCA, but trading in its shares on BSE (539223) has been suspended, so they do not currently trade on a stock exchange.
The company has an authorised share capital of ₹16 Cr and a paid-up capital of ₹14.92 Cr. It was formerly known as Ambition Mica Private Limited. It is led by directors including Govindbhai Veljibhai Patel (Managing Director) and Pareshkumar Babubhai Patel.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at Anand Timber Mart Compound Bh. Karnavati Hospital Opp. Saijpur Tower Saijpur Bogha, Ahmedabad, Gujarat, India – 382345.
As per the financials filed for FY 2023, the company reported a revenue of ₹16.12 Cr, a decline of 34% compared to the previous year. For the same year it recorded a net loss of ₹36.53 Cr (net margin -226.6%) and EBITDA of -₹33.66 Cr (EBITDA margin -208.8%). Revenue has declined at a compounded annual rate (CAGR) of 37% over three years and 29% over five years.
The company has about 3 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Doorskinworld and Ambition Mica. As per MCA filings, the company has open charges of ₹27.01 Cr and satisfied charges of ₹46.88 Cr on record. Court records list 79 cases involving the company, including 12 filed by the company and 68 filed against it; 34 cases are pending. The company has 13 deals on record (11 market trades, 1 funding round, 1 ipo), with disclosed funding of ₹12.48 Cr; the latest was in July 2019. Its 5 peer companies in the Manufacturing industry (Wood, MDF, Particle Board and Plywood), with the same principal business activity (wood and wood products, furniture, paper and paper products) are compared by revenue, 3 larger and 2 smaller; the largest is Oriental Plyboard Private Limited with revenue of ₹16.19 Cr.
The last known website on record is ambitionmica.com.
Company details
CIN history
Ambition Mica has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L25202GJ2010PLC059931, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L25202GJ2010PLC059931 | Current |
| U25202GJ2010PTC059931 | Previous |
| U25202GJ2010PLC059931 | Previous |
Contact details
Ambition Mica Limited's registered office is in Ahmedabad, Gujarat. Its website is ambitionmica.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAnand Timber Mart Compound Bh. Karnavati Hospital Opp. Saijpur Tower Saijpur Bogha, Ahmedabad, Gujarat, India – 382345
- IndustryManufacturing, Wood Products & MDF
To see the full contact details of Ambition Mica 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
Ambition Mica operates two associated brands: Doorskinworld and Ambition Mica. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Designer plywood and timber are manufactured and exported. | ambitionmica.com | |
| Provides mica-based design solutions for interiors and furniture worldwide. | doorskinworld.com |
Business activity
The main business activity of Ambition Mica is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products |
To see the full business activity and turnover split of Ambition Mica Limited, buy the company report.
Financials of Ambition Mica Limited
FY 2022 filings availableAmbition Mica Limited reported revenue of ₹16.12 Cr (down 34% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 29% over five years, including a 34% fall 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 |
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| EBITDA | -₹33.66 Cr | ||||
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| Net Profit (PAT) | -₹36.53 Cr | ||||
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Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -208.8% | ||||
| Net Profit Margin | -226.6% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Ambition Mica Limited, buy the company report.
Board of directors of Ambition Mica Limited
Ambition Mica has 4 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Govindbhai Veljibhai Patel Also directs: Velsons Laminate Private Limited | Managing Director | 19 Mar 2010 | 16 Years 7 Months | As last reported |
| Pareshkumar Babubhai Patel | Director | 27 Mar 2015 | 11 Years 7 Months | As last reported |
| Vinod Bhagvandas Patel | Director | 27 Mar 2015 | 11 Years 7 Months | As last reported |
| Pareshaben Govindkumar Patel | Director | 31 Jul 2020 | 6 Years 3 Months | As last reported |
Peer comparison
Ambition Mica Limited is compared with the 5 companies closest to it by revenue in the Manufacturing industry (Wood, MDF, Particle Board and Plywood), with the same principal business activity (wood and wood products, furniture, paper and paper products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Oriental Plyboard Private Limited | ₹16.19 Cr (FY 2025) | 10.0% | Village Varsana, Gujarat, India | |||
| Koshika Plywood Private Limited | ₹16.19 Cr (FY 2025) | -1.0% | New Delhi, Delhi, India | |||
| Veedecor Industries Private Limited | ₹16.16 Cr (FY 2024) | -16.0% | Ahmedabad, Gujarat, India | |||
| Ambition Mica Limitedthis company | ₹16.12 Cr (FY 2023) | -₹36.53 Cr | -226.6% | -34.0% | 3 | Ahmedabad, Gujarat, India |
| Vidya Ply and Board Pvt Ltd | ₹16.11 Cr (FY 2025) | 34.0% | Shahjahanpur, Uttar Pradesh, India | |||
| N.K. Ply Private Limited | ₹15.89 Cr (FY 2025) | 30.0% | Anjar, Gujarat, India |
To see the full peer comparison of Ambition Mica Limited, buy the company report.
Auditor
Ambition Mica Limited is audited by Hiren D Shah & Associates for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Hiren D Shah & Associates | FY 2022 | 135212W |
Shareholding
The shareholding of Ambition Mica Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ambition Mica Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Mar 2018 | 100173345 | Axis Bank Limited | ₹24.93 Cr | Open | |
| 18 Jan 2018 | 100154141 | Others | ₹54.43 Lakh | Open | |
| 07 Mar 2017 | 100084794 | Hdfc Bank Limited | ₹1.54 Cr | Open | |
| 15 Jun 2017 | 100118302 | Hdfc Bank Limited | ₹15 Cr | Satisfied | |
| 15 Jul 2014 | 10513124 | The Ahmedabad Mercentile Co-Operative Bank Limited | ₹15.37 Cr | Satisfied |
To see the full charge records of Ambition Mica Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Ambition Mica Limited has 13 deals on record (11 market trades, 1 funding round, 1 ipo), with disclosed funding of ₹12.48 Cr; the latest was in July 2019.
Deals on record (5 of 13)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2019 | Market trade | ₹26.9 Lakh | Buyer: an individual Seller: Aarav Financial Services Private Limited |
| Jul 2019 | Market trade | ₹48.5 Lakh | Buyer: Aarav Financial Services Private Limited , an individual Seller: Swing Wealth Management Private Limited |
| Jun 2019 | Market trade | ₹20.2 Lakh | Buyer: Ansu Investment Seller: Swing Wealth Management Private Limited |
| Dec 2016 | Market trade | ₹1.29 Cr | Buyer: Swing Wealth Management Private Limited Seller: 2 individuals |
| Jul 2015 | Market trade | ₹54.8 Lakh | Buyer: 3 individuals Seller: BCB Brokerage Private Limited |
To see the full deal history of Ambition Mica 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
Ambition Mica Limited has 79 court cases on record: 12 filed by Ambition Mica, 68 filed against it. 34 cases are pending and 45 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 70 | 64 | 33 |
| NCLT | 8 | 3 | 1 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 79)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, Interlocutory Application | Interim or miscellaneous application | Filed against the company by Mr. Govindbhai Veljibhai Patel Suspended Director and Member of Ambition Mica Limited | Disposed |
| District court, GANDHINAGAR, Gujarat | Criminal miscellaneous application | Filed against the company by Axis Bank Limited Through Its Authorized Officer Sagar Narendrabhai Kotecha | Disposed |
| NCLAT, Interlocutory Application | Interim or miscellaneous application | Filed by the company against Gautam Deswal Irp of Ambition Mica Limited and 1 other | Disposed |
| District court, Ahmedabad, Gujarat | Criminal miscellaneous application | Filed against the company by Axis Bank Limited - Jitendra Popat | Disposed |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Idfc First Bank Ltd | Disposed |
To see the full case history of Ambition Mica 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
No delayed payments to MSME suppliers are on our record for Ambition Mica Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Ambition Mica has 2 associated companies. This group structure data is as of FY 2021. The table lists each entity with its relationship and holding.
Employees & EPFO
Ambition Mica Limited has a workforce of 3 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
Ambition Mica has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAICA4724A1Z9 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ambition Mica Limited, buy the company report.
Recent activity
Ambition Mica Limited has 20 board changes on record since 2010: 12 appointments and 8 cessations. The latest: Gauravkumar Pushkarrai Jani ceased to be Company Secretary on 13 Aug 2021.
25 earlier events are in the company report.
Frequently asked questions
Ambition Mica is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Ambition Mica is a company under insolvency, formerly operating as a public limited company based in Ahmedabad, Gujarat, India. The company works in wood products and mdf, within the manufacturing industry. It was incorporated on 19 March 2010 and is registered under CIN L25202GJ2010PLC059931. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Ambition Mica has 4 current directors:
- Govindbhai Veljibhai Patel - Managing Director
- Pareshkumar Babubhai Patel - Director
- Vinod Bhagvandas Patel - Director
- Pareshaben Govindkumar Patel - Director
The latest financial statements of Ambition Mica on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Ambition Mica is L25202GJ2010PLC059931. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ambition Mica is recorded as a listed company by MCA, but trading in its shares on BSE (539223) has been suspended, so they do not currently trade on a stock exchange.
Ambition Mica has open charges of ₹27.01 Cr and satisfied charges of ₹46.88 Cr as per latest MCA filings.
Ambition Mica has 79 court cases on record: 12 filed by the company and 68 filed against it. 34 are pending. Most are in the district courts.
Ambition Mica was incorporated on 19 March 2010. It is registered with the Registrar of Companies, Ahmedabad.
Ambition Mica has 13 deals on record (11 market trades, 1 funding round, 1 ipo), with disclosed funding of ₹12.48 Cr; the latest was in July 2019.
The peers of Ambition Mica by revenue are Oriental Plyboard Private Limited, Koshika Plywood Private Limited, Veedecor Industries Private Limited, Vidya Ply and Board Pvt Ltd, N.K. Ply Private Limited, all in the Manufacturing industry (Wood, MDF, Particle Board and Plywood), with the same principal business activity (wood and wood products, furniture, paper and paper products).
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