About Innoventive Industries Limited
Data last updated:
Innoventive Industries Limited is a public limited company based in Pune, Maharashtra, 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 auto parts and components segment of the automotive sector. It was incorporated on 22 August 1991.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN L29309PN1991PLC063045. Its GSTIN is 06AABCA4586B1Z0 (Haryana). The company holds 5 GST registrations, of which 2 are active. It is recorded as listed by MCA, but its shares were delisted from NSE on 02 Jul 2018 · winding up and from BSE on 04 Jul 2018 · compulsory delisting, and no longer trade on a stock exchange.
The company has an authorised share capital of ₹75 Cr and a paid-up capital of ₹59.64 Cr. It was formerly known as Arihant Domestic Appliances Ltd. It is led by directors including Chandu Laxman Chavan (Managing Director) and Rajendra Kundlik Gaikwad.
Its last annual general meeting (AGM) was held on 26 September 2016, and its latest financial statements are for the year ended 31 March 2016. The registered office is at Gat No. 56/4/5 Pimple Jagtap Taluka: Shirur, Pune, Maharashtra, India – 412208.
As per the financials filed for FY 2016, the company reported a revenue of ₹339.1 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net loss of ₹207.29 Cr (net margin -61.1%) and EBITDA of ₹4.1 Cr (EBITDA margin 1.2%). Revenue has declined at a compounded annual rate (CAGR) of 18% over three years and 7% over five years.
The company has about 242 employees on its provident fund (EPFO) records. Its group structure includes 12 subsidiaries.
The company is associated with 1 brand: Innoventive Industries. As per MCA filings, the company has open charges of ₹2,980.28 Cr and satisfied charges of ₹368.5 Cr on record. Court records list 120 cases involving the company, including 38 filed by the company and 82 filed against it; 21 cases are pending. The company has 13 deals on record (6 market trades, 5 funding rounds, 1 secondary share transfer), with disclosed funding of ₹237.89 Cr; the latest was in October 2013.
The last known website on record is innoventive.in.
Company details
CIN history
Innoventive Industries has one previous CIN (Corporate Identification Number): U29309MH1991PLC063045. The current CIN is L29309PN1991PLC063045, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L29309PN1991PLC063045 | Current |
| U29309MH1991PLC063045 | Previous |
Contact details
Innoventive Industries Limited's registered office is in Pune, Maharashtra. Its website is innoventive.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressGat No. 56/4/5 Pimple Jagtap Taluka: Shirur, Pune, Maharashtra, India – 412208
- IndustryAutomotive, Auto Parts & Components
To see the full contact details of Innoventive Industries 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
Innoventive Industries operates one associated brand: Innoventive Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer and supplier of precision tubes to tier 1 companies | innoventive.in |
Business activity
The main business activity of Innoventive Industries is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and metal and metal products. 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 | |
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Innoventive Industries Limited, buy the company report.
Financials of Innoventive Industries Limited
FY 2016 filings availableInnoventive Industries Limited reported revenue of ₹339.1 Cr (down 1% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 7% over five years, including a 1% fall 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 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹339.1 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | ₹4.1 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹207.29 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 | 1.2% | |
| Net Profit Margin | -61.1% | |
| 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 Innoventive Industries Limited, buy the company report.
Board of directors and KMP of Innoventive Industries Limited
Innoventive Industries Limited currently reports 3 directors and 1 key managerial person. 21 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chandu Laxman Chavan Also directs: Swayamsiddha Mahila Utkarsha Foundation | Managing Director | 05 Mar 2002 | 24 Years 7 Months | As last reported |
| Rupesh Ashokrao Kuche Also directs: 7Circles Restructuring LLP, Curecap Advisors LLP, Digital Trust Infrastructure India Limited and 1 more | Company Secretary | 25 Apr 2017 | 9 Years 5 Months | As last reported |
| Rajendra Kundlik Gaikwad Also directs: Arihant Auto Components Private Limited | Director | 08 Feb 2016 | 10 Years 8 Months | As last reported |
| Pournima Popatlal Gadiya Also directs: Innoventive Venture Limited | Director | 14 Nov 2014 | 11 Years 11 Months | As last reported |
Auditor
Innoventive Industries Limited is audited by BHARAT J RUGHANI & CO for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BHARAT J RUGHANI & CO | FY 2016 | 101220W |
Shareholding
The shareholding of Innoventive Industries 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 Innoventive Industries Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Nov 2016 | 100157114 | Others | ₹12.15 Cr | Open | |
| 28 Mar 2016 | 100043078 | Others | ₹1.84 Cr | Open | |
| 28 Oct 2014 | 10531257 | Centbank Financial Services Limited | ₹996.08 Cr | Open | |
| 24 Jun 2014 | 10514314 | Icici Bank Limited | ₹8 Cr | Open | |
| 28 May 2013 | 10428653 | The Ratnakar Bank Ltd | ₹50 Cr | Open |
To see the full charge records of Innoventive Industries Limited, buy the company report.
Total charge records: 54 View all charges
Deals & funding
Innoventive Industries Limited has 13 deals on record (6 market trades, 5 funding rounds, 1 secondary share transfer), with disclosed funding of ₹237.89 Cr; the latest was in October 2013.
Deals on record (5 of 13)
To see the full deal history of Innoventive Industries 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
Innoventive Industries Limited has 120 court cases on record: 38 filed by Innoventive Industries, 82 filed against it. 21 cases are pending and 99 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 72 | 44 | 11 |
| High courts | 37 | 30 | 7 |
| Supreme Court | 6 | 5 | 3 |
| NCLAT | 5 | 3 | 0 |
Cases on record (5 of 120)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Court case (Civil M.A.) | Filed by the company against Capital Constructions Pvt Ltd | Pending |
| District court, Pune, Maharashtra | Execution petition | Filed against the company by Capital Construction Pvt Ltd | Pending |
| District court, Pune, Maharashtra | Court case (Spl .Dkst) | Filed against the company by Ifci Factors Ltd. Through Ravi Roy Verma | Pending |
| District court, South East, Delhi | Criminal case | Filed against the company by Ifci Factors Limited | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Midfield Industries Ltd. and 1 other | Pending |
To see the full case history of Innoventive Industries 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 Innoventive Industries Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Innoventive Industries has 12 subsidiary companies. This group structure data is as of FY 2016. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Saicon Steels Private Limited | U27100MH2003PTC143498 | |
| Saicon Steels Private Limited | U27100MH2003PTC143498 | |
| Arihant Steel and Metal Wires Private Limited | U27109PN2005PTC021695 | |
| Arihant Steel and Metal Wires Private Limited | U27109PN2005PTC021695 | |
| Innovative Technomics Pvt Ltd | U28999PN1993PTC071313 | |
| Innovative Technomics Pvt Ltd | U28999PN1993PTC071313 |
To see the full group structure of Innoventive Industries Limited, buy the company report.
GST
Innoventive Industries has 5 GST registrations: 2 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AABCA4586B1Z0 | Haryana | Active | 01 Jul 2017 |
| 27AABCA4586B1ZW | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Innoventive Industries Limited, buy the company report.
Recent activity
Innoventive Industries Limited has 46 board changes on record since 2002: 25 appointments and 21 cessations. The latest: Rupesh Ashokrao Kuche was appointed as Company Secretary on 25 Apr 2017.
121 earlier events are in the company report.
News
Frequently asked questions
Innoventive Industries 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.
Innoventive Industries is a company under liquidation, formerly operating as a public limited company based in Pune, Maharashtra, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 22 August 1991 and is registered under CIN L29309PN1991PLC063045. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Innoventive Industries has 4 current directors and KMP:
- Chandu Laxman Chavan - Managing Director
- Rajendra Kundlik Gaikwad - Director
- Pournima Popatlal Gadiya - Director
- Rupesh Ashokrao Kuche - Company Secretary
The latest financial statements of Innoventive Industries on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 26 September 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Innoventive Industries is L29309PN1991PLC063045. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Innoventive Industries is recorded as a listed company by MCA, but its shares were delisted from NSE on 02 Jul 2018 · winding up and from BSE on 04 Jul 2018 · compulsory delisting, and no longer trade on a stock exchange.
Innoventive Industries has open charges of ₹2,980.28 Cr and satisfied charges of ₹368.5 Cr as per latest MCA filings.
Innoventive Industries has 120 court cases on record: 38 filed by the company and 82 filed against it. 21 are pending. Most are in the district courts.
Innoventive Industries was incorporated on 22 August 1991. It is registered with the Registrar of Companies, Pune.
Innoventive Industries has 13 deals on record (6 market trades, 5 funding rounds, 1 secondary share transfer), with disclosed funding of ₹237.89 Cr; the latest was in October 2013.