About Cipy Poly Urethanes Private Limited
Data last updated:
Cipy Poly Urethanes Private Limited was a private limited company based in Pune, Maharashtra, India, operated as a subsidiary of Pidilite 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 paint and coatings segment of the manufacturing sector. It was incorporated on 29 November 1994.
The company was registered with the Registrar of Companies (ROC), Pune, under CIN U24219PN1994PTC083328. Its GSTIN is 24AAACC7264R1Z7 (Gujarat). The company held 9 GST registrations, of which 4 are active.
The company had an authorised share capital of ₹1 Cr and a paid-up capital of ₹94.17 Lakh. It was led by directors including Himanshu Kapadia and Subhash Cheralayathpanku Cipy.
Its last annual general meeting (AGM) was held on 27 July 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office was at T – 127 MIDC Industrial Area Bhosari, Pune, Maharashtra, India – 411026.
As per the financials filed for FY 2021, the company reported a revenue of ₹90.11 Cr, a decline of 27% compared to the previous year. For the same year it recorded a net profit of ₹30.42 Lakh (net margin 0.3%) and EBITDA of ₹2.07 Cr (EBITDA margin 2.3%). Revenue has declined at a compounded annual rate (CAGR) of 10% over three years and 3% over five years.
The company had about 171 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 2 brands: Dr Cipy and Cipy Polyurethanes. As per MCA filings, the company had satisfied charges of ₹82.99 Cr on record. Court records list 7 cases involving the company, including 6 filed by the company and 1 filed against it; 3 cases are pending. The company has 6 deals on record (5 secondary share transfers, 1 funding round), with disclosed funding of ₹4.58 Cr; the latest was in April 2021. Its 10 peer companies in the Manufacturing industry (Paints) are compared by revenue, 5 larger and 5 smaller; the largest is Akross Synthetics Pvt Ltd with revenue of ₹96.06 Cr.
The last known website on record is cipypolyurethane.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressT – 127 MIDC Industrial Area Bhosari, Pune, Maharashtra, India – 411026
- IndustryManufacturing, Paint & Coatings
- 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
- One PDF report, delivered after checkout
Associated Brands with Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes operates two associated brands: Dr Cipy and Cipy Polyurethanes. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Epoxy and polyurethane coatings manufacturing for industrial sectors. | drcipy.com | |
| Polyurethane and epoxy coatings are manufactured in Pune, India. | cipypolyurethane.com |
Business Activity of Cipy Poly Urethanes Private Limited
The main business activity of Cipy Poly Urethanes is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Cipy Poly Urethanes Private Limited FY 2021 filings available
Cipy Poly Urethanes Private Limited reported revenue of ₹90.11 Cr (down 27% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR) of Cipy Poly Urethanes Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 3% over five years, including a 27% fall in the latest year. EBITDA fell 88% 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 of Cipy Poly Urethanes Private Limited
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹90.11 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹2.07 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹30.42 Lakh | •••• | •••• | •••• | •••• |
| 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 of Cipy Poly Urethanes Private Limited
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 2.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.3% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Cipy Poly Urethanes are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes has 5 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Himanshu Kapadia Also directs: MBT Construction Chemicals India Private Limited | Director | 30 Jul 2020 | 6 Years 2 Months | As last reported |
| Subhash Cheralayathpanku Cipy Also directs: Cipy Kindred LLP, Cipy Creative Works Private Limited | Director | 29 Nov 1994 | 31 Years 10 Months | As last reported |
| Rajaram Moreshwar Ajgaonkar Also directs: Nina Percept Private Limited | Director | 25 Jun 2019 | 7 Years 3 Months | As last reported |
| Anand Sawroop Khanna | Director | 25 Jun 2019 | 7 Years 3 Months | As last reported |
| Sanjay Bahadur Also directs: Tenax Pidilite India Private Limited, Pidilite Grupo Puma Manufacturing Limited, Pidilite Ventures Private Limited and 5 more | Director | 09 Feb 2018 | 8 Years 8 Months | As last reported |
Peer Comparison of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited is compared with the companies closest to it by revenue in the Manufacturing industry (Paints). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Akross Synthetics Pvt Ltd | ₹96.06 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Kolkata, West Bengal, India |
| Home Pride Adhesive Private Limited | ₹95.62 Cr (FY 2025) | •••• | •••• | 28.0% | •••• | Delhi, India |
| Imagico India Private Limited | ₹95.58 Cr (FY 2024) | •••• | •••• | 170.0% | •••• | Mumbai, Maharashtra, India |
| Paramount Powders Private Limited | ₹91.62 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | New Delhi, Delhi, India |
| Apollo Paints Private Limited | ₹91.26 Cr (FY 2025) | •••• | •••• | 14.0% | •••• | Bangalore, Karnataka, India |
| Cipy Poly Urethanes Private Limited this company | ₹90.11 Cr (FY 2021) | •••• | •••• | -27.0% | •••• | Pune, Maharashtra, India |
| Fortunecoat Industries Private Limited | ₹88.47 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Kolhapur, Maharashtra, India |
| Nexon Paints Private Limited | ₹86.52 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Hyderabad, Telangana, India |
| Gunjan Paints Limited | ₹84.15 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Gandhinagar, Gujarat, India |
| Ducol Organics and Colours Limited | ₹80.84 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | Mumbai, Maharashtra, India |
| Acro Paints Limited | ₹80.35 Cr (FY 2023) | •••• | •••• | 10.0% | •••• | Kanpur, Uttar Pradesh, India |
Peers are the five companies nearest above and the five nearest below Cipy Poly Urethanes by revenue in the Manufacturing industry (Paints), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited is audited by D R BARVE & ASSOCIATES for the financial year 2021.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| D R BARVE & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Cipy Poly Urethanes Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Cipy Poly Urethanes Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 05 May 2018 | Hdfc Bank Limited | ₹39 Cr | Satisfied |
| 15 Nov 2016 | Dbs Bank Ltd | ₹6 Cr | Satisfied |
| 10 Mar 2007 | Axis Bank Limited | ₹32 Cr | Satisfied |
| 28 Nov 2001 | Indian Bank | ₹5.22 Cr | Satisfied |
| 17 Sep 1997 | Indian Bank | ₹7 Lakh | Satisfied |
Total charge records: 7 View all charges
Deals & Funding of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited has 6 deals on record (5 secondary share transfers, 1 funding round), with disclosed funding of ₹4.58 Cr; the latest was in April 2021.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: Pidilite Industries Limited |
| Dec 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2018 | Secondary share transfer | Undisclosed | Buyer: Fevicol Company Limited Seller: an individual |
| Feb 2018 | Secondary share transfer | Undisclosed | Buyer: Pidilite Industries Limited Seller: 2 individuals |
| Mar 2012 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
Full deal history
All 6 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited has 7 court cases on record: 6 filed by Cipy Poly Urethanes, 1 filed against it. 3 cases are pending and 4 are disposed. Status as checked between 30 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 0 | 2 |
| High courts | 3 | 1 | 1 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Civil suit | Filed by the company against an individual | Pending |
| Bombay High Court | Court case (APEAL) | Filed by the company against Akol Corporation | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Floor Tech. Co. 2 | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Polyad Coating Private Ltd | Disposed |
| Bombay High Court | Court case (APPLN) | Filed by the company against Akol Corporation | Disposed |
Full case history
All 7 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited has a workforce of 171 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes Private Limited has 13 board changes on record since 1994: 5 appointments and 8 cessations. The latest: Subhash Cheralayathpanku Cipy ceased to be Managing Director on 29 Apr 2021.
22 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Cipy Poly Urethanes Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Cipy Poly Urethanes Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
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Subsidiaries & Group Companies of Cipy Poly Urethanes Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes has 9 GST registrations: 4 active and 5 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACC7264R1Z7 | Gujarat | Active | 01 Jul 2017 |
| 27AAACC7264R1Z1 | Maharashtra | Active | 01 Jul 2017 |
| 29AAACC7264R1ZX | Karnataka | Active | 01 Jul 2017 |
| 33AAACC7264R1Z8 | Tamil Nadu | Active | 17 Aug 2020 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Cipy Poly Urethanes Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Cipy Poly Urethanes Private Limited
Frequently Asked Questions about Cipy Poly Urethanes Private Limited
Cipy Poly Urethanes 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.
Cipy Poly Urethanes was a private limited company based in Pune, Maharashtra, India. The company worked in paint and coatings, within the manufacturing industry. It was incorporated on 29 November 1994 and is registered under CIN U24219PN1994PTC083328. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Cipy Poly Urethanes was incorporated on 29 November 1994. It is registered with the Registrar of Companies, Pune.
Cipy Poly Urethanes had 5 directors:
- Himanshu Kapadia - Director
- Subhash Cheralayathpanku Cipy - Director
- Rajaram Moreshwar Ajgaonkar - Director
- Anand Sawroop Khanna - Director
- Sanjay Bahadur - Director
The CIN (Corporate Identification Number) of Cipy Poly Urethanes is U24219PN1994PTC083328. 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 Cipy Poly Urethanes is at T – 127 MIDC Industrial Area Bhosari, Pune, Maharashtra, India – 411026.
Cipy Poly Urethanes can be reached through the website cipypolyurethane.com. Its registered office is in Pune, Maharashtra, India.
Cipy Poly Urethanes reported revenue of ₹90.11 Cr for FY 2021 (down 27% YoY).
Cipy Poly Urethanes has an authorised share capital of ₹1 Cr and a paid-up capital of ₹94.17 Lakh.
Cipy Poly Urethanes reported a net profit of ₹30.42 Lakh (net margin 0.3%) and EBITDA of ₹2.07 Cr (EBITDA margin 2.3%) for FY 2021, as per its filed financial statements.
The GSTIN of Cipy Poly Urethanes is 24AAACC7264R1Z7, registered in Gujarat. The company has 9 GST registrations in all, of which 4 are active and 5 are cancelled or inactive. Other active GSTINs include 27AAACC7264R1Z1 (Maharashtra), 29AAACC7264R1ZX (Karnataka), 33AAACC7264R1Z8 (Tamil Nadu).