About Midas Petrochem Private Limited
Data last updated:
Midas Petrochem Private Limited is a private limited company based in Mumbai, Maharashtra, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the wholesale distribution segment of the trading and commerce sector. It was incorporated on 05 November 2012.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U51103MH2012PTC237557. Its GSTIN is 27AAICM2826M1Z3 (Maharashtra). The company holds 5 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹13 Cr and a paid-up capital of ₹12.91 Cr. It is led by directors including Hasmukhrai Shantilal Janani and Deepesh Hasmukh Janani.
Its last annual general meeting (AGM) was held on 30 November 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office is at Office No.109 Avon Arcade Dasharatlal Joshi Road Vile Parle West, Mumbai, Maharashtra, India – 400057.
As per the financials filed for FY 2021, the company reported a revenue of ₹140.87 Cr, a decline of 31% compared to the previous year. For the same year it recorded a net loss of ₹3.89 Cr (net margin -2.8%) and EBITDA of ₹21.05 Lakh (EBITDA margin 0.1%). Revenue has declined at a compounded annual rate (CAGR) of 9% over three years and 1% over five years.
As per MCA filings, the company has open charges of ₹31.01 Cr and satisfied charges of ₹30.8 Cr on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it; 1 case is pending.
The last known website on record is midaspolymers.com.
Company details
Contact details
Midas Petrochem Private Limited's registered office is in Mumbai, Maharashtra. Its website is midaspolymers.com. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressOffice No.109 Avon Arcade Dasharatlal Joshi Road Vile Parle West, Mumbai, Maharashtra, India – 400057
- IndustryTrading, Other Wholesale, Wholesale
To see the full contact details of Midas Petrochem 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 activity of Midas Petrochem is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Midas Petrochem Private Limited, buy the company report.
Financials of Midas Petrochem Private Limited
FY 2021 filings availableMidas Petrochem Private Limited reported revenue of ₹140.87 Cr (down 31% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 1% over five years, including a 31% fall in the latest year. EBITDA fell 95% 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 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹140.87 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹21.05 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹3.89 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.1% | ||||
| Net Profit Margin | -2.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Midas Petrochem Private Limited, buy the company report.
Board of directors of Midas Petrochem Private Limited
Midas Petrochem has 3 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hasmukhrai Shantilal Janani | Director | 05 Nov 2012 | 13 Years 11 Months | As last reported |
| Deepesh Hasmukh Janani | Director | 05 Nov 2012 | 13 Years 11 Months | As last reported |
| Shreyansh Jain | Irp/Rp/Liquidator | 05 Feb 2025 | 1 Years 8 Months | As last reported |
Peer comparison
Midas Petrochem Private Limited is compared with the 4 companies closest to it by revenue in the Chemicals industry (Chemical 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 |
|---|---|---|---|---|---|---|
| Crosfield Textile Chemicals (India) Private Limited | ₹144.94 Cr (FY 2025) | 8.0% | Mumbai, Maharashtra, India | |||
| Aromatic Rasayan Private Limited | ₹143.28 Cr (FY 2024) | -9.0% | New Delhi, Delhi, India | |||
| Kabir Alkalies and Chemicals Private Limited | ₹141.73 Cr (FY 2025) | 14.0% | Panipat, Haryana, India | |||
| Kisco India Private Limited | ₹141.14 Cr (FY 2025) | 32.0% | Chandigarh, India | |||
| Midas Petrochem Private Limitedthis company | ₹140.87 Cr (FY 2021) | -₹3.89 Cr | -2.8% | -31.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Midas Petrochem Private Limited, buy the company report.
Auditor
Midas Petrochem Private Limited is audited by SELARKA & CO for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SELARKA & CO | FY 2021 | 109391W |
Shareholding
The shareholding of Midas Petrochem Private Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Midas Petrochem Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Sep 2020 | 100393384 | Axis Bank Limited | ₹4.95 Cr | Open | |
| 31 Aug 2020 | 100389238 | Others | ₹3.06 Cr | Open | |
| 28 Sep 2016 | 100065715 | Axis Bank Limited | ₹23 Cr | Open | |
| 29 Jan 2020 | 100321255 | Axis Bank Limited | ₹2 Cr | Satisfied | |
| 16 Sep 2019 | 100292032 | Axis Bank Limited | ₹2.3 Cr | Satisfied |
To see the full charge records of Midas Petrochem Private Limited, buy the company report.
Total charge records: 7 View all charges
Legal cases
Midas Petrochem Private Limited has 4 court cases on record: 1 filed by Midas Petrochem, 3 filed against it. 1 case is pending and 3 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 3 | 1 |
| High courts | 1 | 0 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed against the company by Axis Bank Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Secu. Case) | Filed against the company by Axis Bank Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Secu. Case) | Filed against the company by Bank of Maharashtra | Pending |
| High Court, MAHARASHTRA | Writ petition | Filed by the company against The State of Maharashtra and 2 Ors and 2 others | Disposed |
To see the full case history of Midas Petrochem 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.
Credit ratings & regulatory alerts
Midas Petrochem Private Limited was last rated by Crisil on 24 Mar 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 24 Mar 2021 |
To see the full credit ratings and regulatory alerts of Midas Petrochem Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Midas Petrochem Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Midas Petrochem has 5 GST registrations: 1 active and 4 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAICM2826M1Z3 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Midas Petrochem Private Limited, buy the company report.
Recent activity
Midas Petrochem Private Limited has 3 board changes on record since 2012: 3 appointments. The latest: Shreyansh Jain was appointed as Irp/Rp/Liquidator on 05 Feb 2025.
7 earlier events are in the company report.
Frequently asked questions
Midas Petrochem is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Midas Petrochem is a company under insolvency, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in other wholesale, within the trading industry. It was incorporated on 05 November 2012 and is registered under CIN U51103MH2012PTC237557. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Midas Petrochem has 3 current directors:
- Hasmukhrai Shantilal Janani - Director
- Deepesh Hasmukh Janani - Director
- Shreyansh Jain - Irp/Rp/Liquidator
The latest financial statements of Midas Petrochem on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 30 November 2021. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Midas Petrochem is U51103MH2012PTC237557. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Midas Petrochem has open charges of ₹31.01 Cr and satisfied charges of ₹30.8 Cr as per latest MCA filings.
Midas Petrochem has 4 court cases on record: 1 filed by the company and 3 filed against it. 1 is pending. Most are in the district courts.
Midas Petrochem was incorporated on 05 November 2012. It is registered with the Registrar of Companies, Mumbai.
The peers of Midas Petrochem by revenue are Crosfield Textile Chemicals (India) Private Limited, Aromatic Rasayan Private Limited, Kabir Alkalies and Chemicals Private Limited, Kisco India Private Limited, all in the Chemicals industry (Chemical Retail and Distribution), with the same principal business activity (wholesale trading).
Shreyansh Jain was appointed as Irp/Rp/Liquidator on 05 Feb 2025. Deepesh Hasmukh Janani was appointed as Director on 05 Nov 2012. Hasmukhrai Shantilal Janani was appointed as Director on 05 Nov 2012.
Midas Petrochem can be reached through the website midaspolymers.com. Its registered office is in Mumbai, Maharashtra, India.