About Eon Electric Limited
Data last updated:
Eon Electric Limited is a public limited company based in Sonipat, Haryana, 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 electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 06 November 1989.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN L31200HR1989PLC035580. The company has 10 GST registrations on record, none of which is active. It is recorded as listed by MCA, but trading in its shares on BSE (532658) has been suspended, so they do not currently trade on a stock exchange.
The company has an authorised share capital of ₹12.5 Cr and a paid-up capital of ₹8.45 Cr. It was formerly known as Indo Asian Fusegear Limited and Indo Asian Fusegear (India) Limited. It is led by directors including Vinay Mahendru (Managing Director) and Vivek Mahendru (Managing Director).
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Shastri Colony Near Indian Sr. Secondary School Main Gohana Sonipat Bye Pass, Haryana, India – 131001.
As per the financials filed for FY 2019, the company reported a revenue of ₹83.99 Cr, a decline of 49% compared to the previous year. For the same year it recorded a net loss of ₹23.99 Cr (net margin -28.6%) and EBITDA of -₹13.08 Cr (EBITDA margin -15.6%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years.
The company has about 4 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Eon Electric. As per MCA filings, the company has open charges of ₹148.84 Cr and satisfied charges of ₹401.66 Cr on record. Court records list 356 cases involving the company, including 319 filed by the company and 37 filed against it; 96 cases are pending. The company has 61 deals on record (60 market trades, 1 acquisition); the latest was in May 2019. Its 3 peer companies in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 3 larger; the largest is Ateq Systems Analytic India Private Limited with revenue of ₹84.91 Cr.
The last known website on record is eonelectric.com.
Company details
Name history
Eon Electric has undergone 2 name changes throughout its history. The company was previously known as Indo Asian Fusegear Limited, and Indo Asian Fusegear (India) Limited. The current legal name is Eon Electric Limited.
| Company Name | Status |
|---|---|
| Eon Electric Limited | Current |
| Indo Asian Fusegear Limited | Previous |
| Indo Asian Fusegear (India) Limited | Previous |
Contact details
Eon Electric Limited's registered office is in Sonipat, Haryana. Its website is eonelectric.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressShastri Colony Near Indian Sr. Secondary School Main Gohana Sonipat Bye Pass, Haryana, India – 131001
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Eon Electric 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
Eon Electric operates one associated brand: Eon Electric. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of holiday home ownership and resort services | eonelectric.com |
Business activity
The main business activities of Eon Electric are manufacturing and trade. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Eon Electric Limited, buy the company report.
Financials of Eon Electric Limited
FY 2019 filings availableEon Electric Limited reported revenue of ₹83.99 Cr (down 49% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 23% over three years, including a 49% fall in the latest year. EBITDA fell 191% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹83.99 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹13.08 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹23.99 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -15.6% | ||||
| Net Profit Margin | -28.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Eon Electric Limited, buy the company report.
Board of directors and KMP of Eon Electric Limited
Eon Electric Limited currently reports 5 directors and 1 key managerial person. 12 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vinay Mahendru | Managing Director | 24 Jun 2010 | 16 Years 4 Months | As last reported |
| Vivek Mahendru | Managing Director | 12 May 2012 | 14 Years 5 Months | As last reported |
| Ashish Bansal Also directs: Myskinic Solutions LLP, Citicap Housing Developments Private Limited, Citicap Channels Private Limited and 1 more | Director | 01 Apr 2019 | 7 Years 6 Months | As last reported |
| Ashok Kumar Gupta | Director | 01 Apr 2019 | 7 Years 6 Months | As last reported |
| Shruti Kukreti | Additional Director | 21 Mar 2020 | 6 Years 7 Months | As last reported |
| Kulbhushan Satija | Cfo | 12 Aug 2014 | 12 Years 2 Months | As last reported |
Peer comparison
Eon Electric Limited is compared with the 3 companies closest to it by revenue in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ateq Systems Analytic India Private Limited | ₹84.91 Cr (FY 2025) | 36.0% | Pune, Maharashtra, India | |||
| Gre Renew Enertech Limited | ₹84.4 Cr (FY 2025) | -8.0% | Mehsana, Gujarat, India | |||
| Essel Foundries Private Limited | ₹84.2 Cr (FY 2025) | -1.0% | New Delhi, Delhi, India | |||
| Eon Electric Limitedthis company | ₹83.99 Cr (FY 2019) | -₹23.99 Cr | -28.6% | -49.0% | 4 | Sonipat, Haryana, India |
To see the full peer comparison of Eon Electric Limited, buy the company report.
Auditor
Eon Electric Limited is audited by Bansal & Co. LLP for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Bansal & Co. LLP | FY 2019 | 001113N/N500079 |
Shareholding
The shareholding of Eon Electric Limited is on record for 4 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Eon Electric Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Sep 2018 | 100208096 | Others | ₹28.5 Cr | Open | |
| 24 Mar 2017 | 100094018 | Others | ₹24 Cr | Open | |
| 17 Oct 2016 | 100065082 | Others | ₹50 Cr | Open | |
| 15 Oct 2016 | 100065052 | Standard Chartered Bank | ₹1.34 Cr | Open | |
| 22 Nov 2012 | 10391814 | State Bank of Patiala | ₹45 Cr | Open |
To see the full charge records of Eon Electric Limited, buy the company report.
Total charge records: 38 View all charges
Deals & funding
Eon Electric Limited has 61 deals on record (60 market trades, 1 acquisition); the latest was in May 2019.
Deals on record (5 of 61)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2017 | Market trade | ₹2.71 Cr | Buyer: Ashwin Stocks and Investment Private Limited , an individual Seller: Ashwin Stocks and Investment Private Limited , an individual |
| Dec 2015 | Market trade | ₹66.7 Lakh | Buyer: NBN Fintrade Private Limited Seller: NBN Fintrade Private Limited |
| Oct 2014 | Market trade | ₹30.4 Lakh | Buyer: VPM Electricals Private Limited Seller: VPM Industrial Services Corporation LLP |
| Sep 2014 | Market trade | ₹1.23 Cr | Buyer: VPM Electricals Private Limited Seller: VPM Industrial Services Corporation LLP |
| Sep 2014 | Market trade | ₹87 Lakh | Buyer: My Money Securities Limited Seller: My Money Securities Limited , an individual |
To see the full deal history of Eon Electric 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
Eon Electric Limited has 356 court cases on record: 319 filed by Eon Electric, 37 filed against it. 96 cases are pending and 260 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 339 | 33 | 94 |
| High courts | 13 | 1 | 2 |
| NCLT | 4 | 3 | 0 |
Cases on record (5 of 356)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Gurugram, Haryana | Cheque dishonour complaint | Filed against the company by Yes Bank Ltd | Pending |
| District court, South East, Delhi | Criminal case | Filed against the company by Sapton Logistics Pvt Ltd | Pending |
| NCLT, Principal Bench | Insolvency matter | Filed by the company against Liteon Electricals LLP | Disposed |
| High Court of Delhi | Court case (CS(OS)) | Filed against the company by Havells India Ltd | Disposed |
| District court, Dehradun, Uttarakhand | Interim or miscellaneous application | Filed against the company by an individual | Pending |
To see the full case history of Eon Electric 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 Eon Electric Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Eon Electric has 1 joint venture. This group structure data is as of FY 2019. The table lists each entity with its relationship and holding.
Employees & EPFO
Eon Electric Limited has a workforce of 4 employees on its EPFO records as of Mar 30, 2024, across 3 active EPFO establishments.
GST
Eon Electric has 10 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Eon Electric Limited, buy the company report.
Recent activity
Eon Electric Limited has 26 board changes on record since 2005: 16 appointments and 10 cessations. The latest: Shruti Kukreti was appointed as Additional Director on 21 Mar 2020.
113 earlier events are in the company report.
Frequently asked questions
Eon Electric 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.
Eon Electric is a company under insolvency, formerly operating as a public limited company based in Sonipat, Haryana, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 06 November 1989 and is registered under CIN L31200HR1989PLC035580. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Eon Electric has 6 current directors and KMP:
- Vinay Mahendru - Managing Director
- Vivek Mahendru - Managing Director
- Ashish Bansal - Director
- Ashok Kumar Gupta - Director
- Shruti Kukreti - Additional Director
- Kulbhushan Satija - Cfo
The latest financial statements of Eon Electric on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Eon Electric is L31200HR1989PLC035580. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Eon Electric is recorded as a listed company by MCA, but trading in its shares on BSE (532658) has been suspended, so they do not currently trade on a stock exchange.
Eon Electric has open charges of ₹148.84 Cr and satisfied charges of ₹401.66 Cr as per latest MCA filings.
Eon Electric has 356 court cases on record: 319 filed by the company and 37 filed against it. 96 are pending. Most are in the district courts.
Eon Electric was incorporated on 06 November 1989. It is registered with the Registrar of Companies, Delhi.
Eon Electric has 61 deals on record (60 market trades, 1 acquisition); the latest was in May 2019.
The peers of Eon Electric by revenue are Ateq Systems Analytic India Private Limited, Gre Renew Enertech Limited, Essel Foundries Private Limited, all in the Consumer Durables industry (Electronic Appliances Manufacturing), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).