Maharashtra Electronics Corporation Limited
About Maharashtra Electronics Corporation Limited
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Maharashtra Electronics Corporation Limited is a public limited state government company based in Mumbai, Maharashtra, India. It operates in the electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 12 January 1978 and has been in existence for over 48 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U32100MH1978SGC020075. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹9.69 Cr. It is led by directors including Viswanath Giriraj (Managing Director) and Avinash Jagannath Subhedar (Managing Director).
Its last annual general meeting (AGM) was held on 30 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at Am – 3 M I D C Cross Rda Marol Industrial Area Andheri (E), Mumbai, Maharashtra, India – 400093.
As per the financials filed for FY 2017, the company reported a revenue of ₹7.07 Lakh, a decline of 42% compared to the previous year. For the same year it recorded a net loss of ₹42.71 Cr and EBITDA of -₹22.01 Cr. Revenue has declined at a compounded annual rate (CAGR) of 78% over three years.
As per MCA filings, the company has satisfied charges of ₹74.18 Cr on record. Court records list 14 cases involving the company, including 5 filed by the company and 9 filed against it; 1 case is pending.
The current compliance status is marked as active non-compliant by the Registrar of Companies.
Company details
CIN history
Maharashtra Electronics Corporation has one previous CIN (Corporate Identification Number): U32100MH1978PLC020075. The current CIN is U32100MH1978SGC020075, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U32100MH1978SGC020075 | Current |
| U32100MH1978PLC020075 | Previous |
Contact details
Maharashtra Electronics Corporation Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressAm – 3 M I D C Cross Rda Marol Industrial Area Andheri (E), Mumbai, Maharashtra, India – 400093
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Maharashtra Electronics Corporation 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
Financials of Maharashtra Electronics Corporation Limited
FY 2017 filings availableMaharashtra Electronics Corporation Limited reported revenue of ₹7.07 Lakh (down 42% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 78% over three years, including a 42% 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | ₹7.07 Lakh | ||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | -₹22.01 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | -₹42.71 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | |||
| Net Profit Margin | |||
| 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 Maharashtra Electronics Corporation Limited, buy the company report.
Board of directors of Maharashtra Electronics Corporation Limited
Maharashtra Electronics Corporation has 4 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Viswanath Giriraj Also directs: Il&Fs Infra Asset Management Limited | Managing Director | 28 Jun 2007 | 19 Years 4 Months | Current |
| Popat Dada Malikner | Nominee Director | 12 Jun 2018 | 8 Years 4 Months | Current |
| Avinash Jagannath Subhedar | Managing Director | 28 Jun 2019 | 7 Years 4 Months | Current |
| Avinash Kondiba Dhakane | Director | 05 Dec 2015 | 10 Years 10 Months | Current |
Peer comparison
Maharashtra Electronics Corporation Limited is compared with the 10 companies closest to it by revenue in the Consumer Durables industry (Electronic Appliances Manufacturing), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Litetronics Vijay (India) Private Limited | ₹7.27 Lakh (FY 2016) | -2.0% | Mysore, Karnataka, India | |||
| Pitesla Private Limited | ₹7.22 Lakh (FY 2024) | 70.0% | Mumbai, Maharashtra, India | |||
| Mie Cables Limited | ₹7.2 Lakh (FY 2025) | New Delhi, Delhi, India | ||||
| Ananta Electric Lamp Works Private Limited | ₹7.12 Lakh (FY 2025) | 32.0% | Uttar Pradesh, India | |||
| Riyan Optical Discs Private Limited | ₹7.11 Lakh (FY 2025) | 20.0% | Kochi, Kerala, India | |||
| Maharashtra Electronics Corporation Limitedthis company | ₹7.07 Lakh (FY 2017) | -₹42.71 Cr | -42.0% | Mumbai, Maharashtra, India | ||
| Rayseven Productions Private Limited | ₹7.04 Lakh (FY 2025) | -50.0% | New Delhi, Delhi, India | |||
| SRS Automotive Components Private Limited | ₹7.04 Lakh (FY 2017) | -58.0% | Faridabad, Haryana, India | |||
| Prkhya Technology Solutions Private Limited | ₹7.03 Lakh (FY 2024) | 30412.0% | New Delhi, Delhi, India | |||
| Ezpyramid Energy Private Limited | ₹7 Lakh (FY 2024) | Delhi, India | ||||
| Lightrics Solutions Private Limited | ₹6.97 Lakh (FY 2024) | -80.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Maharashtra Electronics Corporation Limited, buy the company report.
Auditor
Maharashtra Electronics Corporation Limited is audited by Ramprasad Sharma & Associates for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Ramprasad Sharma & Associates | FY 2017 | 112430W |
Shareholding
The shareholding of Maharashtra Electronics Corporation Limited is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Maharashtra Electronics Corporation Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Jan 1997 | 90184062 | Indian Bank | ₹29.64 Cr | Satisfied | |
| 25 Jan 1996 | 90186304 | Indian Bank | ₹8.58 Cr | Satisfied | |
| 25 Jan 1996 | 90187704 | Indian Bank | ₹6.27 Cr | Satisfied | |
| 14 Feb 1994 | 90186025 | The State Industrial & Investment Corpn. of Mah. Ltd | ₹1.32 Cr | Satisfied | |
| 03 May 1990 | 90185588 | Indian Bank | ₹25.5 Cr | Satisfied |
To see the full charge records of Maharashtra Electronics Corporation Limited, buy the company report.
Total charge records: 6 View all charges
Legal cases
Maharashtra Electronics Corporation Limited has 14 court cases on record: 5 filed by Maharashtra Electronics Corporation, 9 filed against it. 1 case is pending and 13 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 9 | 7 | 1 |
| District courts | 4 | 2 | 0 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 14)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South East, Delhi | Civil suit | Filed against the company by Ms A.S. Electronics P.Ltd. | Disposed |
| High Court, UTTARPRADESH | Writ petition | Filed against the company by M/S B.R.V. Industries P Ltd. and Anr. | Disposed |
| Bombay High Court | Writ petition | Filed by the company against an individual | Pending |
| Bombay High Court | Tax appeal | Filed against the company by The Commissioner of Income Tax- 8, Mumbai | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (M.A.-ULP-Recovery) | Filed against the company by an individual | Disposed |
To see the full case history of Maharashtra Electronics Corporation 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 Maharashtra Electronics Corporation Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Maharashtra Electronics Corporation has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Maharashtra Electronics Corporation Limited, buy the company report.
Recent activity
Maharashtra Electronics Corporation Limited has 14 board changes on record since 2007: 4 appointments and 10 cessations. The latest: Annasaheb Bhanudas Misal ceased to be Director on 01 Jul 2021.
20 earlier events are in the company report.
Frequently asked questions
Maharashtra Electronics Corporation is an active public limited state government company based in Mumbai, Maharashtra, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 12 January 1978 (48+ years old) and is registered under CIN U32100MH1978SGC020075.
Maharashtra Electronics Corporation has 4 current directors:
- Viswanath Giriraj - Managing Director
- Avinash Jagannath Subhedar - Managing Director
- Popat Dada Malikner - Nominee Director
- Avinash Kondiba Dhakane - Director
The latest financial statements of Maharashtra Electronics Corporation on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 30 September 2017. Year-wise statements from 2015 are in the company report.
No. Maharashtra Electronics Corporation has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of Maharashtra Electronics Corporation is U32100MH1978SGC020075. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Maharashtra Electronics Corporation has 14 court cases on record: 5 filed by the company and 9 filed against it. 1 is pending. Most are in the high courts.
Maharashtra Electronics Corporation was incorporated on 12 January 1978, making it 48+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Maharashtra Electronics Corporation by revenue are Litetronics Vijay (India) Private Limited, Pitesla Private Limited, Mie Cables Limited, Ananta Electric Lamp Works Private Limited, Riyan Optical Discs Private Limited and 5 more, all in the Consumer Durables industry (Electronic Appliances Manufacturing).
Annasaheb Bhanudas Misal ceased to be Director on 01 Jul 2021. Avinash Jagannath Subhedar was appointed as Managing Director on 28 Jun 2019. Popat Dada Malikner was appointed as Nominee Director on 12 Jun 2018. Maharashtra Electronics Corporation has 14 board changes on record in total.
The registered office of Maharashtra Electronics Corporation is at Am – 3 M I D C Cross Rda Marol Industrial Area Andheri E, Mumbai, Maharashtra, India – 400093.
Maharashtra Electronics Corporation operates in the consumer electronics and durables industry, in the electronics manufacturing segment.