About MGN Agro Properties Private Limited
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MGN Agro Properties Private Limited is a private limited company based in Anjar, Gujarat, India. It operates in the textile retail and distribution segment of the home and lifestyle products sector. It was incorporated on 26 May 1999 and has been in existence for over 27 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U51100GJ1999PTC081436. Its GSTIN is 24AACCM3422H1ZW (Gujarat). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹1,020 Cr and a paid-up capital of ₹469.61 Cr. It was formerly known as Mgn Builders and Developers Private Limited. It is led by directors including Hardik Vinay Dhebar and Harish Chandra Gupta.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Survey No. 650 Welspun City Village Versamedi Taluka Anjar Dist. Kutch, Gujarat, India – 370110.
As per the financials filed for FY 2025, the company reported a revenue of ₹398.02 Cr, a decline of 50% compared to the previous year. For the same year it recorded a net profit of ₹54.54 Cr (net margin 13.7%) and EBITDA of ₹68.5 Cr (EBITDA margin 17.2%). Revenue has grown at a compounded annual rate (CAGR) of 59% over three years and 47% over five years.
Its group structure includes 3 subsidiaries.
As per MCA filings, the company has open charges of ₹500 Cr and satisfied charges of ₹167.42 Cr on record. Court records list 28 cases involving the company, including 10 filed by the company and 18 filed against it; 4 cases are pending. The company has 32 deals on record (17 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹1,095.8 Cr; the latest was in August 2023. Its 5 peer companies in the Infrastructure industry (Construction Materials Retail and Distribution, Infrastructure Services, Textile Retail and Distribution), with the same principal business activity (wholesale trading) are compared by revenue, 3 larger and 2 smaller; the largest is Murugan Textiles Private Limited with revenue of ₹405.12 Cr. The company has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 6 overdue payments to 4 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website welspun.com.
Company details
CIN history
MGN Agro Properties has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U51100GJ1999PTC081436, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51100GJ1999PTC081436 | Current |
| U45200GJ1999PTC081436 | Previous |
| U45200MH1999PTC120035 | Previous |
Contact details
MGN Agro Properties Private Limited's registered office is in Anjar, Gujarat. Its website is welspun.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSurvey No. 650 Welspun City Village Versamedi Taluka Anjar Dist. Kutch, Gujarat, India – 370110
- IndustryHome & Lifestyle, Textile Retail & Distribution
To see the full contact details of MGN Agro Properties Private 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
Business activity
The main business activities of MGN Agro Properties are trade and real estate. In detail, this covers wholesale trading and real estate activities with own or leased property. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | |
| L | Real Estate | L1 | Real estate activities with own or leased property |
To see the full business activity and turnover split of MGN Agro Properties Private Limited, buy the company report.
Financials of MGN Agro Properties Private Limited
FY 2024 filings availableMGN Agro Properties Private Limited reported revenue of ₹398.02 Cr (down 50% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 50% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 47%. EBITDA fell 80% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹68.5 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹54.54 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 17.2% | ||||
| Net Profit Margin | 13.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
| Payable Days | |||||
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To see the full financial statements and ratios of MGN Agro Properties Private Limited, buy the company report.
Board of directors of MGN Agro Properties Private Limited
MGN Agro Properties has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hardik Vinay Dhebar Also directs: DBG Estates Holdings LLP, Propgenie Infra Developers LLP, Welspun Investments and Commercials Limited and 5 more | Director | 12 Dec 2023 | 2 Years 10 Months | Current |
| Harish Chandra Gupta Also directs: Welspun Newgen Limited, DBG Estates Private Limited, Balkrishan Goenka Foundation and 5 more | Director | 18 Apr 2019 | 7 Years 6 Months | Current |
| Gajendra Kumar Nahar Also directs: Welspun Investments and Commercials Limited, Vivarta Realcon LLP, Rajlok Infra Developers Private Limited and 3 more | Director | 13 Mar 2018 | 8 Years 7 Months | Current |
Peer comparison
MGN Agro Properties Private Limited is compared with the 5 companies closest to it by revenue in the Infrastructure industry (Construction Materials Retail and Distribution, Infrastructure Services, Textile Retail and Distribution), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Murugan Textiles Private Limited | ₹405.12 Cr (FY 2017) | -10.0% | Mumbai, Maharashtra, India | |||
| B2b Genie Private Limited | ₹401.34 Cr (FY 2025) | 16.0% | Jaipur, Rajasthan, India | |||
| M Rajkrishna Trading Private Limited | ₹398.79 Cr (FY 2025) | -5.0% | Kolkata, West Bengal, India | |||
| MGN Agro Properties Private Limitedthis company | ₹398.02 Cr (FY 2025) | ₹54.54 Cr | 13.7% | -50.0% | Anjar, Gujarat, India | |
| Meghraj Logisales Private Limited | ₹396.51 Cr (FY 2025) | -1.0% | Seraikela, Jharkhand, India | |||
| PNP Polymers Private Limited | ₹392.06 Cr (FY 2025) | 61.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of MGN Agro Properties Private Limited, buy the company report.
Auditor
MGN Agro Properties Private Limited is audited by PYS & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PYS & CO LLP | FY 2023 | 012388S / S200048 |
Shareholding
The shareholding of MGN Agro Properties Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of MGN Agro Properties Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Jan 2025 | 101039183 | Others | ₹100 Cr | Open | |
| 21 Nov 2024 | 101021842 | Others | ₹200 Cr | Open | |
| 20 Sep 2022 | 100616745 | Others | ₹200 Cr | Open | |
| 30 Jan 2023 | 100677503 | Others | ₹50 Cr | Satisfied | |
| 27 Jul 2022 | 100598168 | Others | ₹112 Cr | Satisfied |
To see the full charge records of MGN Agro Properties Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
MGN Agro Properties Private Limited has 32 deals on record (17 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹1,095.8 Cr; the latest was in August 2023.
Deals on record (5 of 32)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2023 | Secondary share transfer | Undisclosed | Seller: Welspun Steel Limited |
| Apr 2023 | Secondary share transfer | Undisclosed | Seller: Agrani Infrastructure Works Private Limited |
| Dec 2019 | Debt financing | ₹110 Cr | Investors: Adani Tradex LLP |
| Sep 2019 | Debt financing | ₹11 Cr | Investors: Welspun Steel Limited |
| Apr 2019 | Debt financing | ₹53 Cr | Investors: Welspun Steel Limited |
To see the full deal history of MGN Agro Properties Private 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
MGN Agro Properties Private Limited has 28 court cases on record: 10 filed by MGN Agro Properties, 18 filed against it. 4 cases are pending and 24 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 10 | 10 | 4 |
| High courts | 9 | 2 | 0 |
| Supreme Court | 5 | 5 | 0 |
| NCLT | 4 | 1 | 0 |
Cases on record (5 of 28)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1601-Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605]) | Filed against the company by Deputy Commissioner of Income Tax, Central Circle 3(3), Mumbai and 2 others | Disposed |
| Supreme Court | Court case (1807-Ordinary Civil Matters : Others) | Filed against the company by Rahul Suri S/D/W/Thru:- Jitender Suri Personal Guarantor of Kalisma Steel Private Limited 5, Vikas Park, Juhu Tara Road, Juhu, ,Mumbai , Maharashtra | Disposed |
| NCLAT, NCLAT New Delhi | Court case (Caveat) | Filed against the company by an individual | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by an individual | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by an individual | Pending |
To see the full case history of MGN Agro Properties Private 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
MGN Agro Properties Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 6 overdue payments to 4 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (4 of 4)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Asha Industries | |||
| Cee Kay Mercantile Private Limited | |||
| As Per Attached File | |||
| an individual supplier |
To see the full MSME payment records of MGN Agro Properties Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
MGN Agro Properties has 3 subsidiary companies and 3 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Welspun Logistics Limited | U63012MH2006PLC165280 | |
| Paschim Sagar Properties Private Limited | U70100GJ2022PTC136990 | |
| Welspun Realty Private Limited | U70109MH2007PTC168489 |
To see the full group structure of MGN Agro Properties Private Limited, buy the company report.
GST
MGN Agro Properties has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCM3422H1ZW | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of MGN Agro Properties Private Limited, buy the company report.
Recent activity
MGN Agro Properties Private Limited has 15 board changes on record since 2007: 3 appointments and 12 cessations. The latest: Hardik Vinay Dhebar ceased to be Additional Director on 29 Sep 2024.
20 earlier events are in the company report.
Frequently asked questions
MGN Agro Properties is an active private limited company based in Anjar, Gujarat, India. The company works in textile retail and distribution, within the home and lifestyle industry. It was incorporated on 26 May 1999 (27+ years old) and is registered under CIN U51100GJ1999PTC081436.
MGN Agro Properties has 3 current directors:
- Hardik Vinay Dhebar - Director
- Harish Chandra Gupta - Director
- Gajendra Kumar Nahar - Director
The latest financial statements of MGN Agro Properties on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of MGN Agro Properties is 24AACCM3422H1ZW, registered in Gujarat. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of MGN Agro Properties is U51100GJ1999PTC081436. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
MGN Agro Properties has 28 court cases on record: 10 filed by the company and 18 filed against it. 4 are pending. Most are in the nclat.
MGN Agro Properties was incorporated on 26 May 1999, making it 27+ years old. It is registered with the Registrar of Companies, Ahmedabad.
MGN Agro Properties has 32 deals on record (17 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹1,095.8 Cr; the latest was in August 2023.
The peers of MGN Agro Properties by revenue are Murugan Textiles Private Limited, B2b Genie Private Limited, M Rajkrishna Trading Private Limited, Meghraj Logisales Private Limited, PNP Polymers Private Limited, all in the Infrastructure industry (Construction Materials Retail and Distribution, Infrastructure Services, Textile Retail and Distribution), with the same principal business activity (wholesale trading).
Hardik Vinay Dhebar ceased to be Additional Director on 29 Sep 2024. Hardik Vinay Dhebar was appointed as Director on 12 Dec 2023. Devendra Patil Krishna ceased to be Company Secretary on 31 Oct 2023. MGN Agro Properties has 15 board changes on record in total.
MGN Agro Properties has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 6 overdue payments to 4 micro and small suppliers. The latest return was filed on 30 Apr 2024.
MGN Agro Properties can be reached through the website welspun.com. Its registered office is in Anjar, Gujarat, India.
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