About Maxgrow India Limited
Data last updated:
Maxgrow India Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the HR outsourcing and talent management segment of the business process outsourcing sector. It was incorporated on 12 January 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L51100MH1994PLC076018. The company has 2 GST registrations on record, none of which is active. Its shares are listed on BSE: 521167.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹19.97 Cr. It was formerly known as Bullize Industries Limited and Maxgrow Resource Limited. It is led by directors including Shivkumar Ramsagar Pasi and Guda Rakesh.
Its last annual general meeting (AGM) was held on 01 June 2026, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Suchita Business Park, Mumbai, Maharashtra.
As per the financials filed for FY 2020, the company reported a revenue of ₹15.6 Lakh, a decline of 36% compared to the previous year. For the same year it recorded a net loss of ₹12.8 Lakh (net margin -82%) and EBITDA of -₹11.26 Lakh (EBITDA margin -72.2%).
As per MCA filings, the company has satisfied charges of ₹32 Cr on record. Court records list 18 cases involving the company, including 4 filed by the company and 14 filed against it. The company has 63 deals on record (63 market trades); the latest was in January 2020. Its 10 peer companies in the Metals and Minerals industry (Materials Retail and Distribution) are compared by revenue, 5 larger and 5 smaller; the largest is Shree Jaganath Stokists Private Limited.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website maxgrowindiacirp.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressSuchita Business Park Ground Floor Office No. Ug – 50, Y. G. Seth Marg Ghatkopar – East, Mumbai, Maharashtra, India – 400075
- IndustryBusiness Outsourcing, HR Outsourcing & Talent Management
- 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
Business Activity of Maxgrow India Limited
The main business activity of Maxgrow India is trade. In detail, this covers wholesale trading.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Maxgrow India Limited FY 2024 filings available
Maxgrow India Limited reported revenue of ₹15.6 Lakh (down 36% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR) of Maxgrow India Limited
Revenue fell 36% in the latest year. EBITDA fell 444% in the latest year. All are worked out from the filed statements.
Financial Statement Summary of Maxgrow India Limited
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹15.6 Lakh | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹11.26 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹12.8 Lakh | •••• | •••• | •••• | •••• |
| 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 Maxgrow India Limited
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -72.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -82% | •••• | •••• | •••• | •••• |
| 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 Maxgrow India 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 Maxgrow India Limited
Maxgrow India Limited is compared with the companies closest to it by revenue in the Metals and Minerals industry (Materials Retail and Distribution). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Shree Jaganath Stokists Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| JRM Trading Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| Nandkishore Steel Tubes Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Green Dot Minerals Private Limited | •••• | •••• | •••• | •••• | - | Jaipur, Rajasthan, India |
| Silvergrace Exim Private Limited | •••• | •••• | •••• | •••• | - | Area Jaipur, Rajasthan, India |
| Maxgrow India Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Western Scrap (OPC) Private Limited | •••• | •••• | •••• | •••• | - | Ankleshwar, Gujarat, India |
| Ik Sharma E-Ventures Private Limited | •••• | •••• | •••• | •••• | - | Surat, Gujarat, India |
| Dhanpati Minerals Private Limited | •••• | •••• | •••• | •••• | - | Ranchi, Jharkhand, India |
| N. M. Shah Metcoke Private Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
| Golden Exim Private Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
Peers are the five companies nearest above and the five nearest below Maxgrow India by revenue in the Metals and Minerals industry (Materials Retail and Distribution), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Maxgrow India Limited
Maxgrow India Limited is audited by B. N. Kedia & Co. for the financial year 2020.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| B. N. Kedia & Co. | 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 Maxgrow India Limited
Maxgrow India has 5 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shivkumar Ramsagar Pasi | Additional Director | 23 Dec 2024 | 1 Years 9 Months | Current |
| Guda Rakesh | Additional Director | 19 Sep 2024 | 2 Years 0 Months | Current |
| Amarjit Kumar Shrivastav | Additional Director | 19 Sep 2024 | 2 Years 0 Months | Current |
| Laxman Medudula | Additional Director | 19 Sep 2024 | 2 Years 0 Months | Current |
| Pooja Pravin Keer Also directs: Nomas India Renewable Energy Private Limited | Additional Director | 19 Sep 2024 | 2 Years 0 Months | Current |
Ownership and Shareholding of Maxgrow India 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 Maxgrow India Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 08 Jul 1996 | State Bank of India | ₹17.7 Cr | Satisfied |
| 01 Apr 1995 | The Bank of Scotia | ₹1 Cr | Satisfied |
| 27 Oct 1994 | Export Import Bank of India | ₹1.2 Cr | Satisfied |
| 27 May 1994 | State Bank of India | ₹8.9 Cr | Satisfied |
| 25 Mar 1994 | The Bank of Scotia | ₹3.2 Cr | Satisfied |
Total charge records: 5 View all charges
Deals & Funding of Maxgrow India Limited
Maxgrow India Limited has 63 deals on record (63 market trades); the latest was in January 2020.
Deals on record (5 of 63)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2020 | Market trade | ₹2.4 Lakh | Buyer: Moneycrew Fintec Private Limited Seller: National Stock Exchange of India Ltd. |
| May 2018 | Market trade | ₹13 Lakh | Buyer: NBN Fintrade Private Limited Seller: an individual |
| Apr 2018 | Market trade | ₹13.9 Lakh | Buyer: an individual Seller: NBN Fintrade Private Limited |
| Feb 2018 | Market trade | ₹34.2 Lakh | Seller: Gedalia Multitrading Private Limited |
| Jan 2018 | Market trade | ₹27.3 Lakh | Seller: Gedalia Multitrading Private Limited |
Full deal history
All 63 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Maxgrow India Limited
Maxgrow India Limited has 18 court cases on record: 4 filed by Maxgrow India, 14 filed against it. All cases are disposed. Status as checked between 29 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 16 | 12 | 0 |
| Supreme Court | 1 | 1 | 0 |
| District courts | 1 | 1 | 0 |
Cases on record (5 of 18)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (SJ) | Filed against the company by Airlift(India)Private Limited | Disposed |
| Bombay High Court | Writ petition | Filed against the company by an individual | Disposed |
| High Court of Delhi | Appeal | Filed against the company by Union of India | Disposed |
| Bombay High Court | Court case (CSP) | Filed by the company | Disposed |
| Bombay High Court | Court case (CSD) | Filed by the company | Disposed |
Full case history
All 18 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 at Maxgrow India Limited
Employment history and EPFO contributions of people linked to Maxgrow India.
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.
Name History of Maxgrow India Limited
Maxgrow India has undergone 10 name changes throughout its history. The current legal name is Maxgrow India Limited.
| Company Name | Status |
|---|---|
| Maxgrow India Limited | Current |
| Bullize Industries Limited | Previous |
| Maxgrow Resource Limited | Previous |
| Apeego Limited | Previous |
| Apeego Private Limited | Previous |
| Frontline Business Solutions Limited | Previous |
| Inanna Fashion And Trends Limited | Previous |
| Maxgrowindia Limited | Previous |
| Amoda Industries Limited | Previous |
| Wr Industries Limited | Previous |
CIN History of Maxgrow India Limited
Maxgrow India has one previous CIN (Corporate Identification Number): L17200MH1994PLC076018. The current CIN is L51100MH1994PLC076018, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L51100MH1994PLC076018 | Current |
| L17200MH1994PLC076018 | Previous |
News related to Maxgrow India Limited
Recent Activity on Maxgrow India Limited
Maxgrow India Limited has 41 board changes on record since 1994: 23 appointments and 18 cessations. The latest: Shivkumar Ramsagar Pasi was appointed as Additional Director on 23 Dec 2024.
44 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Maxgrow India 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 Maxgrow India 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 Maxgrow India 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 Maxgrow India Limited
Maxgrow India has 2 GST registrations on record, and all of them have been cancelled or are 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 Maxgrow India 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 Maxgrow India Limited
Maxgrow India is an active public limited company based in Mumbai, Maharashtra, India. The company works in HR outsourcing and talent management, within the business outsourcing industry. It was incorporated on 12 January 1994 (32+ years old) and is registered under CIN L51100MH1994PLC076018. Listed on BSE: 521167.
Maxgrow India reported revenue of ₹15.6 Lakh for FY 2020 (down 36% YoY).
Maxgrow India has 5 current directors:
- Shivkumar Ramsagar Pasi - Additional Director
- Guda Rakesh - Additional Director
- Amarjit Kumar Shrivastav - Additional Director
- Laxman Medudula - Additional Director
- Pooja Pravin Keer - Additional Director
Maxgrow India reported a net loss of ₹12.8 Lakh (net margin -82%) and EBITDA of -₹11.26 Lakh (EBITDA margin -72.2%) for FY 2020, as per its filed financial statements.
No. Maxgrow India has 2 GST registrations on record and all of them are cancelled or inactive.
The CIN (Corporate Identification Number) of Maxgrow India is L51100MH1994PLC076018. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Maxgrow India is listed on BSE with code 521167.
Maxgrow India has 18 court cases on record: 4 filed by the company and 14 filed against it. Most are in the high courts.
Maxgrow India was incorporated on 12 January 1994, making it 32+ years old. It is registered with the Registrar of Companies, Mumbai.
Maxgrow India has 63 deals on record (63 market trades); the latest was in January 2020.
The peers of Maxgrow India by revenue are Shree Jaganath Stokists Private Limited, JRM Trading Private Limited, Nandkishore Steel Tubes Private Limited, Green Dot Minerals Private Limited, Silvergrace Exim Private Limited and 5 more, all in the Metals and Minerals industry (Materials Retail and Distribution).