About Axiom Cordages Limited
Data last updated:
Axiom Cordages Limited was a public limited company based in Thane, Maharashtra, India, operated as a subsidiary of Responsive Industries 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 plastic-based products segment of the manufacturing sector. It was incorporated on 15 April 1999.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U25209MH1999PLC119427. Its GSTIN is 27AACCA0548G1ZZ (Maharashtra). The company held 3 GST registrations, of which 2 are active.
The company had an authorised share capital of ₹80 Cr and a paid-up capital of ₹32.88 Cr. It was formerly known as Arpeeta Plastics Limited and Arpeeta Plastics Private Limited. It was led by directors including Mehul Laljibhai Vala (Whole-Time Director) and Sanjiv Swarup.
Its last annual general meeting (AGM) was held on 15 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office was at Gut No 114 B 120 Cbetegoan Village Boisar East India, Thane, Maharashtra, India – 401501.
As per the financials filed for FY 2023, the company reported a revenue of ₹142.13 Cr, a growth of 15% compared to the previous year. For the same year it recorded a net profit of ₹1.95 Cr (net margin 1.4%) and EBITDA of ₹13.99 Cr (EBITDA margin 9.8%). Revenue has declined at a compounded annual rate (CAGR) of 9% over three years and 7% over five years.
The company had about 44 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Axiom Cordages. As per MCA filings, the company had satisfied charges of ₹122.21 Cr on record. Court records list 36 cases involving the company, including 18 filed by the company and 18 filed against it; 6 cases are pending. The company has 14 deals on record (7 secondary share transfers, 4 convertible or debt financings, 3 funding rounds), with disclosed funding of ₹127.37 Cr; the latest was in March 2021. Its 7 peer companies in the Manufacturing industry (Plastic Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 3 larger and 4 smaller; the largest is Vardhaman Plastochem Private Limited with revenue of ₹144.04 Cr. The company has 4 MSME Form 1 returns on record between 2019 and 2020, listing 7 overdue payments to 3 micro and small suppliers.
The last known website on record is axiomcordages.com.
Company details
Name history
Axiom Cordages has undergone 5 name changes throughout its history. The current legal name is Axiom Cordages Limited.
| Company Name | Status |
|---|---|
| Axiom Cordages Limited | Current |
| Arpeeta Plastics Limited | Previous |
| Arpeeta Plastics Private Limited | Previous |
| Rapid Plastics Private Limited | Previous |
| Axiom Impex International Limited | Previous |
| Arpeeta Plastic Private Limited | Previous |
CIN history
Axiom Cordages has one previous CIN (Corporate Identification Number): L25209MH1999PLC119427. The current CIN is U25209MH1999PLC119427, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U25209MH1999PLC119427 | Current |
| L25209MH1999PLC119427 | Previous |
Contact details
Axiom Cordages Limited's registered office is in Thane, Maharashtra. Its website is axiomcordages.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressGut No 114 B 120 Cbetegoan Village Boisar East India, Thane, Maharashtra, India – 401501
- IndustryManufacturing, Plastic-Based Products
To see the full contact details of Axiom Cordages 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
Axiom Cordages operates one associated brand: Axiom Cordages. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Synthetic fiber ropes and cordages are manufactured for industrial applications. | axiomcordages.com |
Business activity
The main business activity of Axiom Cordages is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Axiom Cordages Limited, buy the company report.
Financials of Axiom Cordages Limited
FY 2023 filings availableAxiom Cordages Limited reported revenue of ₹142.13 Cr (up 15% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue rose 15% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 7%. EBITDA fell 44% 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 | ₹142.13 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹13.99 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.95 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 | 9.8% | ||||
| Net Profit Margin | 1.4% | ||||
| 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 Axiom Cordages Limited, buy the company report.
Board of directors of Axiom Cordages Limited
Axiom Cordages has 5 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sanjiv Swarup Also directs: Bharat Wire Ropes Limited, Josts Engineering Company Limited, Prime Fresh Limited and 5 more | Director | 27 Jan 2023 | 3 Years 9 Months | As last reported |
| Sadanand Raghavendra Morab Also directs: Responsive Industries Limited | Director | 14 Nov 2022 | 3 Years 11 Months | As last reported |
| Mita Namonath Jha | Additional Director | 02 May 2022 | 4 Years 6 Months | As last reported |
| Mehul Laljibhai Vala Also directs: Responsive Industries Limited | Whole-Time Director | 24 May 2019 | 7 Years 5 Months | As last reported |
| Rishabh Rajkumar Agarwal Also directs: Fairpoint Industries LLP | Director | 02 May 2018 | 8 Years 6 Months | As last reported |
Peer comparison
Axiom Cordages Limited is compared with the 7 companies closest to it by revenue in the Manufacturing industry (Plastic Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vardhaman Plastochem Private Limited | ₹144.04 Cr (FY 2025) | 3.0% | Mumbai, Maharashtra, India | |||
| Swashthik Plascon Limited | ₹143.8 Cr (FY 2025) | 7.0% | Puducherry, India | |||
| Aadi Plastic Industries Private Limited | ₹143.14 Cr (FY 2025) | 11.0% | Kolhapur, Maharashtra, India | |||
| Axiom Cordages Limitedthis company | ₹142.13 Cr (FY 2023) | ₹1.95 Cr | 1.4% | 15.0% | 44 | Thane, Maharashtra, India |
| Omega Plasto Limited | ₹141.64 Cr (FY 2025) | 3.0% | Vadodara, Gujarat, India | |||
| Avsl Industries Limited | ₹140.84 Cr (FY 2025) | 2.0% | New Delhi, Delhi, India | |||
| Siddharth Polymers Private Limited | ₹140.64 Cr (FY 2025) | 15.0% | Bangalore, Karnataka, India | |||
| Rex Pipes and Cables Industries Limited | ₹138.76 Cr (FY 2025) | 8.0% | Sikar, Rajasthan, India |
To see the full peer comparison of Axiom Cordages Limited, buy the company report.
Auditor
Axiom Cordages Limited is audited by Shah & Taparia for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Shah & Taparia | FY 2023 | 109463W |
Shareholding
The shareholding of Axiom Cordages 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 Axiom Cordages Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Feb 2011 | 10267372 | Ing Vysya Bank Limited | ₹35 Cr | Satisfied | |
| 06 Apr 2009 | 10154681 | Il & Fs Trust Company Limited | ₹31.21 Cr | Satisfied | |
| 11 Sep 2008 | 10124343 | State Bank of India | ₹56 Cr | Satisfied |
To see the full charge records of Axiom Cordages Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Axiom Cordages Limited has 14 deals on record (7 secondary share transfers, 4 convertible or debt financings, 3 funding rounds), with disclosed funding of ₹127.37 Cr; the latest was in March 2021.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: Responsive Industries Limited Seller: Netherlands Development Finance Company, BanyanTree Finance |
| Jul 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2013 | Secondary share transfer | Undisclosed | Buyer: Responsive Industries Limited Seller: BanyanTree Finance |
| Oct 2007 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 4 individuals |
| Mar 2007 | Secondary share transfer | Undisclosed | Buyer: Responsive Industries Limited , Wellknown Business Ventures LLP Seller: Omprakash Agarwal HUF, an individual |
To see the full deal history of Axiom Cordages 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
Axiom Cordages Limited has 36 court cases on record: 18 filed by Axiom Cordages, 18 filed against it. 6 cases are pending and 30 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 24 | 12 | 3 |
| Supreme Court | 9 | 5 | 2 |
| District courts | 2 | 1 | 1 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 36)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2406-Indirect Taxation : Goods and Services Tax, Integrated Goods and Services Tax, State Goods and Services Tax, UT Goods and Services Tax.) | Filed against the company by Union of India and 97 others | Disposed |
| Supreme Court | Court case (1100-Arbitration Matters : SLPs challenging Arbitration Matters) | Filed against the company by Responsive Industries Limited Authorised Signatory Bategaon Mahagoan Road ,Thane , Maharashtra | Disposed |
| Supreme Court | Court case (1100-Arbitration Matters : SLPs challenging Arbitration Matters) | Filed against the company by Wellknown Business Ventures LLP Thru Its Authorised at Esperanca, Shahid Bhagat Singh Road , District: Colaba ,Mumbai , Maharashtra | Disposed |
| Supreme Court | Court case (1100-Arbitration Matters : SLPs challenging Arbitration Matters) | Filed by the company against Responsive Industries Limited Authorised Signatory Authorised Signatory Betegaon Vill. Mahagaon Road, Boisar (E) Dist. Thane ,Thane , Maharashtra and 2 others | Disposed |
| Bombay High Court | Court case (CARBP) | Filed against the company by Responsive Industries Limited and 2 Ors | Disposed |
To see the full case history of Axiom Cordages 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
Axiom Cordages Limited has 4 MSME Form 1 returns on record between 2019 and 2020, listing 7 overdue payments to 3 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 (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| S G C O & Co LLP | |||
| Cas & Co. | |||
| Kreston SG Advisors LLP |
To see the full MSME payment records of Axiom Cordages Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Axiom Cordages Limited has a workforce of 44 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
Axiom Cordages has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCA0548G1ZZ | Maharashtra | Active | 01 Jul 2017 |
| 27AACCA0548G2ZY | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Axiom Cordages Limited, buy the company report.
Recent activity
Axiom Cordages Limited has 27 board changes on record since 2011: 5 appointments and 22 cessations. The latest: Sadanand Raghavendra Morab ceased to be Additional Director on 14 Sep 2023.
25 earlier events are in the company report.
Frequently asked questions
Axiom Cordages 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.
Axiom Cordages was a public limited company based in Thane, Maharashtra, India. The company worked in plastic-based products, within the manufacturing industry. It was incorporated on 15 April 1999 and is registered under CIN U25209MH1999PLC119427. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Axiom Cordages was incorporated on 15 April 1999. It is registered with the Registrar of Companies, Mumbai.
Axiom Cordages had 5 directors:
- Mehul Laljibhai Vala - Whole-Time Director
- Sanjiv Swarup - Director
- Sadanand Raghavendra Morab - Director
- Mita Namonath Jha - Additional Director
- Rishabh Rajkumar Agarwal - Director
The CIN (Corporate Identification Number) of Axiom Cordages is U25209MH1999PLC119427. 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 Axiom Cordages is at Gut No 114 B 120 Cbetegoan Village Boisar East India, Thane, Maharashtra, India – 401501.
Axiom Cordages can be reached through the website axiomcordages.com. Its registered office is in Thane, Maharashtra, India.
The latest financial statements of Axiom Cordages on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 15 September 2023. Year-wise statements from 2015 are in the company report.
The GSTIN of Axiom Cordages is 27AACCA0548G1ZZ, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 27AACCA0548G2ZY (Maharashtra).
Axiom Cordages operated in the manufacturing industry, in the plastic-based products segment.
Axiom Cordages has 14 deals on record (7 secondary share transfers, 4 convertible or debt financings, 3 funding rounds), with disclosed funding of ₹127.37 Cr; the latest was in March 2021.
The peers of Axiom Cordages by revenue are Vardhaman Plastochem Private Limited, Swashthik Plascon Limited, Aadi Plastic Industries Private Limited, Omega Plasto Limited, Avsl Industries Limited and 2 more, all in the Manufacturing industry (Plastic Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
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