About Ashok Magnetics Limited
Data last updated:
Ashok Magnetics Limited is a public limited company based in Gummidipoondi, Tamil Nadu, 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 steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 16 April 1993.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN L30007TN1993PLC024842. Its GSTIN is 33AAACA4304Q1ZT (Tamil Nadu). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹7.5 Cr. It is led by directors including Ajay Kumar Agarwal (Managing Director) and Bishan Singh.
Its last annual general meeting (AGM) was held on 30 September 2016, and its latest financial statements are for the year ended 31 March 2016. The registered office is at B – 73 Sipcot Industrial Complexgummidipoondi – 601201., Gummidipoondi – 601201., Tamil Nadu, India – 601201.
As per the financials filed for FY 2016, the company reported a revenue of ₹24.46 Cr, a decline of 83% compared to the previous year. For the same year it recorded a net loss of ₹20.06 Cr (net margin -82%) and EBITDA of -₹13.28 Cr (EBITDA margin -54.3%).
The company has about 39 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹211 Cr and satisfied charges of ₹26 Cr on record. Court records list 111 cases involving the company, including 65 filed by the company and 46 filed against it; 36 cases are pending.
The last known website on record is amlsteel.in.
Company details
Contact details
Ashok Magnetics Limited's registered office is in Gummidipoondi, Tamil Nadu. Its website is amlsteel.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressB – 73 Sipcot Industrial Complexgummidipoondi – 601201., Gummidipoondi – 601201., Tamil Nadu, India – 601201
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Ashok Magnetics 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 Ashok Magnetics is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Ashok Magnetics Limited, buy the company report.
Financials of Ashok Magnetics Limited
FY 2016 filings availableAshok Magnetics Limited reported revenue of ₹24.46 Cr (down 83% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue fell 83% in the latest year. EBITDA rose 77% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹24.46 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | -₹13.28 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹20.06 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 2015-16 | FY 2014-15 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -54.3% | |
| Net Profit Margin | -82% | |
| 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 Ashok Magnetics Limited, buy the company report.
Board of directors of Ashok Magnetics Limited
Ashok Magnetics has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bishan Singh Also directs: Ankit Ispat Private Limited | Director | 17 Mar 2015 | 11 Years 7 Months | As last reported |
| Ajay Kumar Agarwal | Managing Director | 10 Jul 1995 | 31 Years 3 Months | As last reported |
| Anuj Kumar Behera Also directs: Ankit Ispat Private Limited | Additional Director | 30 Dec 2016 | 9 Years 9 Months | As last reported |
Peer comparison
Ashok Magnetics Limited is compared with the 5 companies closest to it by revenue in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Marudhar Ispat Private Limited | ₹24.5 Cr (FY 2025) | -17.0% | Chennai, Tamil Nadu, India | |||
| Mefs Technologies Private Limited | ₹24.47 Cr (FY 2024) | 1274.0% | Pune, Maharashtra, India | |||
| Ashok Magnetics Limitedthis company | ₹24.46 Cr (FY 2016) | -₹20.06 Cr | -82% | -83.0% | 39 | Gummidipoondi, Tamil Nadu, India |
| Asd Ispat Impex Private Limited | ₹24.42 Cr (FY 2025) | -24.0% | Thane, Maharashtra, India | |||
| Aggarwal Art and Pattern Private Limited | ₹24.35 Cr (FY 2025) | 32.0% | Delhi, India | |||
| Mahakal Ispat Private Limited | ₹24.34 Cr (FY 2025) | -32.0% | Bhilai, Chhattisgarh, India |
To see the full peer comparison of Ashok Magnetics Limited, buy the company report.
Auditor
Ashok Magnetics Limited is audited by RAJESH JANGID & CO for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAJESH JANGID & CO | FY 2016 | 011666S |
Shareholding
The shareholding of Ashok Magnetics Limited is on record for 2 financial years, the latest being FY 2016, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2016 | FY 2015 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Ashok Magnetics Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Mar 2017 | 100116836 | Others | ₹2 Cr | Open | |
| 10 Mar 2017 | 100116850 | Others | ₹6 Cr | Open | |
| 20 Feb 2017 | 100120165 | Others | ₹5.5 Cr | Open | |
| 02 Feb 2017 | 100118196 | Others | ₹6.5 Cr | Open | |
| 10 Sep 2015 | 10608954 | Bkl Steels Private Limited | ₹3.8 Cr | Open |
To see the full charge records of Ashok Magnetics Limited, buy the company report.
Total charge records: 18 View all charges
Legal cases
Ashok Magnetics Limited has 111 court cases on record: 65 filed by Ashok Magnetics, 46 filed against it. 36 cases are pending and 75 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 71 | 16 | 33 |
| District courts | 34 | 24 | 1 |
| NCLAT | 6 | 6 | 2 |
Cases on record (5 of 111)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by Ashok Memory (India) Private Limited M/S.Muthuchaharan Sudresh, T.Kartihi | Pending |
| District court, Chennai, Tamil Nadu | Civil suit | Filed against the company by M/S Ankit Ispat Private Limited | Disposed |
| High Court, TAMIL NADU | Writ petition | Filed against the company by Ashok Memory (India) Private Limited V.P.Mohammed Moin, T.Karthi | Disposed |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by Ashok Memory (India) Private Limited V.P,Mohammed Moin, T.Karthi | Disposed |
| High Court, KARNATAKA | Court case (CRL.RP) | Filed by the company against M/S Sunvik Steels Pvt Ltd | Disposed |
To see the full case history of Ashok Magnetics 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 Ashok Magnetics Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Ashok Magnetics Limited has a workforce of 39 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Ashok Magnetics has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACA4304Q1ZT | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ashok Magnetics Limited, buy the company report.
Recent activity
Ashok Magnetics Limited has 23 board changes on record since 1993: 13 appointments and 10 cessations. The latest: Inder Jeet Kaushal ceased to be Director on 31 Jan 2017.
41 earlier events are in the company report.
Frequently asked questions
Ashok Magnetics 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.
Ashok Magnetics is a company under liquidation, formerly operating as a public limited company based in Gummidipoondi, Tamil Nadu, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 16 April 1993 and is registered under CIN L30007TN1993PLC024842. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Ashok Magnetics has 3 current directors:
- Ajay Kumar Agarwal - Managing Director
- Bishan Singh - Director
- Anuj Kumar Behera - Additional Director
The latest financial statements of Ashok Magnetics on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 30 September 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Ashok Magnetics is L30007TN1993PLC024842. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ashok Magnetics is a listed company as per MCA records.
Ashok Magnetics has open charges of ₹211 Cr and satisfied charges of ₹26 Cr as per latest MCA filings.
Ashok Magnetics has 111 court cases on record: 65 filed by the company and 46 filed against it. 36 are pending. Most are in the high courts.
Ashok Magnetics was incorporated on 16 April 1993. It is registered with the Registrar of Companies, Chennai.
The peers of Ashok Magnetics by revenue are Marudhar Ispat Private Limited, Mefs Technologies Private Limited, Asd Ispat Impex Private Limited, Aggarwal Art and Pattern Private Limited, Mahakal Ispat Private Limited, all in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products).
Inder Jeet Kaushal ceased to be Director on 31 Jan 2017. Anuj Kumar Behera was appointed as Additional Director on 30 Dec 2016. Komala Sunil ceased to be Additional Director on 05 Sep 2016. Ashok Magnetics has 23 board changes on record in total.