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 5 peer companies in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 2 larger and 3 smaller; the largest is Akross Synthetics Pvt Ltd with revenue of ₹96.06 Cr.
The last known website on record is cipypolyurethane.com.
Company details
Contact details
Cipy Poly Urethanes Private Limited's registered office is in Pune, Maharashtra. Its website is cipypolyurethane.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressT – 127 MIDC Industrial Area Bhosari, Pune, Maharashtra, India – 411026
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Cipy Poly Urethanes Private 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
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
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 | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Cipy Poly Urethanes Private Limited, buy the company report.
Financials of Cipy Poly Urethanes Private Limited
FY 2021 filings availableCipy Poly Urethanes Private Limited reported revenue of ₹90.11 Cr (down 27% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
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
| 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
| 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 | |||||
To see the full financial statements and ratios of Cipy Poly Urethanes Private Limited, buy the company report.
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
Cipy Poly Urethanes Private Limited is compared with the 5 companies closest to it by revenue in the Manufacturing industry (Paints), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| 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 | |||
| Paramount Powders Private Limited | ₹91.62 Cr (FY 2025) | 5.0% | New Delhi, Delhi, India | |||
| Cipy Poly Urethanes Private Limitedthis company | ₹90.11 Cr (FY 2021) | ₹30.42 Lakh | 0.3% | -27.0% | 171 | Pune, Maharashtra, 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 |
To see the full peer comparison of Cipy Poly Urethanes Private Limited, buy the company report.
Auditor
Cipy Poly Urethanes Private Limited is audited by D R BARVE & ASSOCIATES for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| D R BARVE & ASSOCIATES | FY 2021 | 122260W |
Shareholding
The shareholding of Cipy Poly Urethanes Private Limited is on record for 4 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 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Cipy Poly Urethanes Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 May 2018 | 100217803 | Hdfc Bank Limited | ₹39 Cr | Satisfied | |
| 15 Nov 2016 | 100066366 | Dbs Bank Ltd | ₹6 Cr | Satisfied | |
| 10 Mar 2007 | 10048089 | Axis Bank Limited | ₹32 Cr | Satisfied | |
| 28 Nov 2001 | 90088458 | Indian Bank | ₹5.22 Cr | Satisfied | |
| 17 Sep 1997 | 90090556 | Indian Bank | ₹7 Lakh | Satisfied |
To see the full charge records of Cipy Poly Urethanes Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
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 |
To see the full deal history of Cipy Poly Urethanes Private 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
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.
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 |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Ms Floor Tech. Co. 2 | Pending |
| Bombay High Court | Court case (APEAL) | Filed by the company against M/S. Akol Corporation and Ors. | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Ms Polyad Coating Private Ltd. 1 | Disposed |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Polymass Marketing Services Etc.1 | Disposed |
To see the full case history of Cipy Poly Urethanes Private 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
Cipy Poly Urethanes Private Limited was last rated by Indiarating on 10 Dec 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 10 Dec 2021 |
To see the full credit ratings and regulatory alerts of Cipy Poly Urethanes Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Cipy Poly Urethanes Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Cipy Poly Urethanes Private Limited has a workforce of 171 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
GST
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 |
To see the full GST registrations and return filing status of Cipy Poly Urethanes Private Limited, buy the company report.
Recent activity
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 in the company report.
Frequently asked questions
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.
The latest financial statements of Cipy Poly Urethanes on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 27 July 2021. Year-wise statements from 2015 are in the company report.
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).
Cipy Poly Urethanes operated in the manufacturing industry, in the paint and coatings segment.
Cipy Poly Urethanes 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.