About Max Flex & Imaging Systems Limited
Data last updated:
Max Flex & Imaging Systems Limited is a public limited company based in Mumbai, 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 electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 25 October 2002.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U92112MH2002PLC137690. The company has 11 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹21 Cr and a paid-up capital of ₹18.37 Cr. It was formerly known as Max Flex & Imaging Systems Private Limited and Silver Digigraph Private Limited. It is led by directors including Hitesh Rajnikant Jobalia (Managing Director) and Nimesh Navinchandra Shah (Whole-Time Director).
Its last annual general meeting (AGM) was held on 16 September 2013, and its latest financial statements are for the year ended 31 March 2013. The registered office is at 102 Prime Plaza Jv Patelcompound Balasaheb Madhurkar Marg El Phiston (West), Mumbai, Maharashtra, India – 400013.
As per the financials filed for FY 2009, the company reported a revenue of ₹220.4 Cr, a growth of 114% compared to the previous year. For the same year it recorded a net profit of ₹12.31 Cr (net margin 5.6%) and EBITDA of ₹14.09 Cr (EBITDA margin 6.4%).
The company has about 2 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹400 Cr and satisfied charges of ₹511.9 Cr on record. Court records list 165 cases involving the company, including 129 filed by the company and 36 filed against it; 41 cases are pending. The company has 20 deals on record (12 secondary share transfers, 8 funding rounds), with disclosed funding of ₹112.27 Cr; the latest was in September 2011. Its 10 peer companies in the Information Technology industry (Electronic Equipment and Components Manufacturing) are compared by revenue, 5 larger and 5 smaller; the largest is Likeon Trading International Private Limited with revenue of ₹230.58 Cr.
The last known website on record is maxflex.in.
Name History
Max Flex & Imaging Systems has undergone 2 name changes throughout its history. The company was previously known as Max Flex & Imaging Systems Private Limited, and Silver Digigraph Private Limited. The current legal name is Max Flex & Imaging Systems Limited.
| Company Name | Status |
|---|---|
| Max Flex & Imaging Systems Limited | Current |
| Max Flex & Imaging Systems Private Limited | Previous |
| Silver Digigraph Private Limited | Previous |
CIN History
Max Flex & Imaging Systems has one previous CIN (Corporate Identification Number): U92112MH2002PTC137690. The current CIN is U92112MH2002PLC137690, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U92112MH2002PLC137690 | Current |
| U92112MH2002PTC137690 | Previous |
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- Registered Address102 Prime Plaza Jv Patelcompound Balasaheb Madhurkar Marg El Phiston (West), Mumbai, Maharashtra, India – 400013
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
- 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 Max Flex & Imaging Systems Limited
FY 2013 filings availableMax Flex & Imaging Systems Limited reported revenue of ₹220.4 Cr (up 114% YoY) for FY 2009.
Compounded Annual Growth Rate (CAGR)
Revenue rose 114% in the latest year. EBITDA rose 228% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2008-09 |
|---|---|
| Profit and Loss Statement | |
| Revenue from Operations | •••• |
| Other Income | •••• |
| Total Revenue | •••• |
| Cost of Materials Consumed | •••• |
| Employee Benefit Expense | •••• |
| Finance Costs | •••• |
| Depreciation and Amortisation | •••• |
| Other Expenses | •••• |
| Total Expenses | •••• |
| EBITDA | ₹14.09 Cr |
| Profit Before Tax | •••• |
| Tax Expense | •••• |
| Net Profit (PAT) | ₹12.31 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 2008-09 |
|---|---|
| Profitability | |
| EBITDA Margin | 6.4% |
| Net Profit Margin | 5.6% |
| 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 Max Flex & Imaging Systems 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
Board of Directors of Max Flex & Imaging Systems Limited
Max Flex & Imaging Systems has 3 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nimesh Navinchandra Shah Also directs: Max Signage Industries Private Limited | Whole-Time Director | 25 Oct 2002 | 23 Years 11 Months | As last reported |
| Hitesh Rajnikant Jobalia Also directs: Max Signage Industries Private Limited | Managing Director | 25 Oct 2002 | 23 Years 11 Months | As last reported |
| Dipti Hitesh Jobalia | Additional Director | 15 Feb 2016 | 10 Years 8 Months | As last reported |
Peer Comparison
Max Flex & Imaging Systems Limited is compared with the companies closest to it by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Likeon Trading International Private Limited | ₹230.58 Cr (FY 2025) | •••• | •••• | 56.0% | •••• | Rajpura Town, Punjab, India |
| Plumage Solutions Private Limited | ₹229.41 Cr (FY 2025) | •••• | •••• | 26538.0% | •••• | Gurgaon, Haryana, India |
| Wurth Electronics Services India Private Limited | ₹226.88 Cr (FY 2024) | •••• | •••• | 16.0% | •••• | Bangalore, Karnataka, India |
| Shri Sharada Iron and Steel Private Limited | ₹221.78 Cr (FY 2025) | •••• | •••• | 10.0% | •••• | Hyderabad, Telangana, India |
| Posiflex Technology (India) Private Limited | ₹221.07 Cr (FY 2025) | •••• | •••• | 35.0% | •••• | Bangalore, Karnataka, India |
| Max Flex & Imaging Systems Limited this company | ₹220.4 Cr (FY 2009) | •••• | •••• | 114.0% | •••• | Mumbai, Maharashtra, India |
| Index System India Private Limited | ₹216.32 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Mumbai, Maharashtra, India |
| Insemi Technology Services Private Limited | ₹215.59 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Bengaluru, Karnataka, India |
| Sigmaavit Technology Solutions Private Limited | ₹213.98 Cr (FY 2025) | •••• | •••• | -14.0% | •••• | Bangalore, Karnataka, India |
| Silicon and Beyond Private Limited | ₹213.6 Cr (FY 2018) | •••• | •••• | 805.0% | •••• | Bangalore, Karnataka, India |
| Vananam Rewards Private Limited | ₹206.13 Cr (FY 2025) | •••• | •••• | -29.0% | •••• | Bangalore, Karnataka, India |
Peers are the companies nearest to Max Flex & Imaging Systems by revenue, above and below it, in the Information Technology industry (Electronic Equipment and Components Manufacturing), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Charges & Borrowings
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Mar 2013 | Sbicap Trustee Company Limited | ₹400 Cr | Open |
| 16 Dec 2013 | Bank of Maharashtra | ₹2 Cr | Satisfied |
| 19 Dec 2012 | Axis Bank Limited | ₹50 Cr | Satisfied |
| 22 Oct 2012 | Bank of Maharashtra | ₹22 Cr | Satisfied |
| 03 May 2012 | Standard Chartered Bank | ₹50 Cr | Satisfied |
Total charge records: 15 View all charges
Deals & Funding
Max Flex & Imaging Systems Limited has 20 deals on record (12 secondary share transfers, 8 funding rounds), with disclosed funding of ₹112.27 Cr; the latest was in September 2011.
Deals on record (5 of 20)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2011 | Secondary share transfer | Undisclosed | Buyer: Fairwinds PE Seller: Pine Derivatives Marketing Private Limited , 3 individuals |
| Sep 2010 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: White Rose Trading Private Limited |
| Aug 2010 | Secondary share transfer | Undisclosed | Buyer: White Rose Trading Private Limited Seller: Swarnsarita Jewels India Limited |
| Jul 2010 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Pine Derivatives Marketing Private Limited |
| Jan 2010 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: First Stock and Bond Trading Company Private Limited , Terry Towel Indusries Limited |
: available in the company report
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases
Max Flex & Imaging Systems Limited has 165 court cases on record: 129 filed by Max Flex & Imaging Systems, 36 filed against it. 41 cases are pending and 124 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 149 | 25 | 39 |
| High courts | 15 | 10 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 165)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Inland World Logistics Pvt. Ltd. | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed against the company by Sbi Cap Trustee Company Ltd. | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Secu. Case) | Filed against the company by Sbicap Trustee Company Limited Th.Mr.Prashant Joshi | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed by the company against B M Advertising Private Ltd. and 2 others | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by Inland World Logistics Pvt. Ltd. | Disposed |
: available in 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.
Employees and EPFO Compliance
Employment history and EPFO contributions of people linked to Max Flex & Imaging Systems.
: available in the company report
Recent Activity
Max Flex & Imaging Systems Limited has 18 board changes on record since 2002: 3 appointments and 15 cessations. The latest: Dipti Hitesh Jobalia was appointed as Additional Director on 15 Feb 2016.
48 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
MSME Payment Delays
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
Max Flex & Imaging Systems has 11 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
: available in the company report
MCA Filings & Documents
: available in the company report
Frequently Asked Questions
Max Flex & Imaging Systems 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.
Max Flex & Imaging Systems is a company under liquidation, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 25 October 2002 and is registered under CIN U92112MH2002PLC137690. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Max Flex & Imaging Systems has 3 current directors:
- Hitesh Rajnikant Jobalia - Managing Director
- Nimesh Navinchandra Shah - Whole-Time Director
- Dipti Hitesh Jobalia - Additional Director
The latest financial statements of Max Flex & Imaging Systems on record with the MCA are for the year ended 31 March 2013. Its last annual general meeting was held on 16 September 2013. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Max Flex & Imaging Systems is U92112MH2002PLC137690. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Max Flex & Imaging Systems has open charges of ₹400 Cr and satisfied charges of ₹511.9 Cr as per latest MCA filings.
Max Flex & Imaging Systems has 165 court cases on record: 129 filed by the company and 36 filed against it. 41 are pending. Most are in the district courts.
Max Flex & Imaging Systems was incorporated on 25 October 2002. It is registered with the Registrar of Companies, Mumbai.
Max Flex & Imaging Systems has 20 deals on record (12 secondary share transfers, 8 funding rounds), with disclosed funding of ₹112.27 Cr; the latest was in September 2011.
The peers of Max Flex & Imaging Systems by revenue are Likeon Trading International Private Limited, Plumage Solutions Private Limited, Wurth Electronics Services India Private Limited, Shri Sharada Iron and Steel Private Limited, Posiflex Technology (India) Private Limited and 5 more, all in the Information Technology industry (Electronic Equipment and Components Manufacturing).
Dipti Hitesh Jobalia was appointed as Additional Director on 15 Feb 2016. Rahul Bharat Manek ceased to be Director on 15 Feb 2016. Rubin Paresh Chheda ceased to be Additional Director on 15 Feb 2016. Max Flex & Imaging Systems has 18 board changes on record in total.