About Magnet Technologies Private Limited
Data last updated:
Magnet Technologies Private Limited was a private limited company based in Mumbai, Maharashtra, India. The company has been struck off by the Registrar of Companies, typically due to non-filing of annual returns or failure to commence business. It is no longer operational and cannot enter into any legal contracts or agreements. It operated in the software development and support services segment of the technology and IT services sector. It was incorporated on 28 May 1999.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U72900MH1999PTC120090. The company has 1 GST registration on record, which is no longer active.
The company had an authorised share capital of ₹50 Lakh and a paid-up capital of ₹13.52 Lakh. It was led by directors Haribabu Ramakrishnan and Nirav Vinodbhai Mehta.
Its last annual general meeting (AGM) was held on 28 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at 126 1st Floor Raghuleela Mega Mall S.V. Road Kandivali (West), Mumbai, Maharashtra, India – 400067.
As per the financials filed for FY 2022, the company reported a revenue of ₹35,649, a decline of 95% compared to the previous year. For the same year it recorded a net profit of ₹1,479 (net margin 4.1%) and EBITDA of ₹1,479 (EBITDA margin 4.1%). Revenue has grown at a compounded annual rate (CAGR) of 77% over five years.
The company was associated with 1 brand: Magnet Technologies.
The last known website on record is magnettechnologies.com.
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- Registered Address126 1st Floor Raghuleela Mega Mall S.V. Road Kandivali (West), Mumbai, Maharashtra, India – 400067
- IndustryInformation Technology, Software Development & Support Services
- 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
Financials of Magnet Technologies Private Limited FY 2022 filings available
Magnet Technologies Private Limited reported revenue of ₹35,649 (down 95% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR) of Magnet Technologies Private Limited
Revenue fell 95% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 77%. EBITDA fell 100% 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 Magnet Technologies Private Limited
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹35,649 | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹1,479 | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹1,479 | •••• | •••• | •••• | •••• |
| 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 Magnet Technologies Private Limited
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 4.1% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
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 Magnet Technologies 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.
Peer Comparison of Magnet Technologies Private Limited
Magnet Technologies Private Limited is compared with the companies closest to it by revenue in the Information Technology industry (Software Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Cloudindra Software Private Limited | ₹37,014 (FY 2021) | •••• | •••• | •••• | Pune, Maharashtra, India | |
| Abacus Softech Limited | ₹36,800 (FY 2025) | •••• | •••• | •••• | New Delhi, Delhi, India | |
| Pro99 Communications Private Limited | ₹36,774 (FY 2024) | •••• | •••• | 201.0% | •••• | New Delhi, Delhi, India |
| Centura Watch Cases Private Limited | ₹36,717 (FY 2025) | •••• | •••• | 60.0% | •••• | Urdigere, Karnataka, India |
| Octane Softech Private Limited | ₹36,500 (FY 2020) | •••• | •••• | 162.0% | •••• | Hydearbad, Telangana, India |
| Magnet Technologies Private Limited this company | ₹35,649 (FY 2022) | •••• | •••• | -95.0% | •••• | Mumbai, Maharashtra, India |
| Cpag-4I Advisory Services India Private Limited | ₹35,540 (FY 2025) | •••• | •••• | -100.0% | •••• | Bangalore, Karnataka, India |
| Thinkbid Technologies Private Limited | ₹35,467 (FY 2025) | •••• | •••• | 93234.0% | •••• | Kozhikode, Kerala, India |
| Volano Software Services Private Limited | ₹35,360 (FY 2020) | •••• | •••• | •••• | New Delhi, Delhi, India | |
| Fortech Energy India Private Limited | ₹35,210 (FY 2025) | •••• | •••• | •••• | Hyderabad, Telangana, India | |
| Goripples Technologies Private Limited | ₹35,000 (FY 2025) | •••• | •••• | •••• | Bangalore, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Magnet Technologies by revenue in the Information Technology industry (Software Services), 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 Magnet Technologies Private Limited
Magnet Technologies Private Limited is audited by SURESH K SUBRAHMANYAM & ASSOCIATES for the financial year 2020.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| SURESH K SUBRAHMANYAM & 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.
Board of Directors of Magnet Technologies Private Limited
Magnet Technologies has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Haribabu Ramakrishnan Also directs: Aurum Mine Supply LLP, Neo Neem Extractions Private Limited, Gourmet Logistics Private Limited and 3 more | Director | 30 Aug 2021 | 5 Years 1 Months | As last reported |
| Nirav Vinodbhai Mehta Also directs: Store Apps Technologies LLP, Leapven Solutions Private Limited | Director | 28 May 1999 | 27 Years 4 Months | As last reported |
Ownership and Shareholding of Magnet Technologies 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 Magnet Technologies Private Limited
Magnet Technologies Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Associated Brands with Magnet Technologies Private Limited
Magnet Technologies operates one associated brand: Magnet Technologies. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Premium Linux hosting services, including dedicated, VPS, and shared servers, are provided in the information technology sector. | magnettechnologies.com |
Employees and EPFO Compliance at Magnet Technologies Private Limited
Magnet Technologies Private Limited has a workforce of 0 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 Magnet Technologies Private Limited
Magnet Technologies Private Limited has 6 board changes on record since 1999: 2 appointments and 4 cessations. The latest: Haribabu Ramakrishnan ceased to be Additional Director on 30 Nov 2021.
Credit Ratings, Litigation & Regulatory Alerts for Magnet Technologies 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 Magnet Technologies 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
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Magnet Technologies 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 Magnet Technologies Private Limited
Magnet Technologies has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
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 Magnet Technologies 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.
Frequently Asked Questions about Magnet Technologies Private Limited
Magnet Technologies has a status of "Struck Off" as per MCA records. This means the company has been officially removed from the Register of Companies, typically due to non-filing of annual returns or failure to commence business within one year of incorporation. A struck-off company cannot enter into any legal contracts or agreements, and any dealings with such an entity carry significant legal and financial risk.
Magnet Technologies was a private limited company based in Mumbai, Maharashtra, India. The company worked in software development and support services, within the information technology industry. It was incorporated on 28 May 1999 and is registered under CIN U72900MH1999PTC120090. The company has been struck off by the Registrar of Companies and is no longer operational.
Magnet Technologies had 2 directors:
- Haribabu Ramakrishnan - Director
- Nirav Vinodbhai Mehta - Director
The CIN (Corporate Identification Number) of Magnet Technologies is U72900MH1999PTC120090. 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 Magnet Technologies is at 126 1st Floor Raghuleela Mega Mall S.V. Road Kandivali West, Mumbai, Maharashtra, India – 400067.
Magnet Technologies was incorporated on 28 May 1999. It is registered with the Registrar of Companies, Mumbai.
Magnet Technologies can be reached through the website magnettechnologies.com. Its registered office is in Mumbai, Maharashtra, India.
Magnet Technologies reported revenue of ₹35,649 for FY 2022 (down 95% YoY).
Magnet Technologies has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹13.52 Lakh.
Magnet Technologies reported a net profit of ₹1,479 (net margin 4.1%) and EBITDA of ₹1,479 (EBITDA margin 4.1%) for FY 2022, as per its filed financial statements.
No. Magnet Technologies has 1 GST registration on record and it is cancelled or inactive.