About MRN Cane Power India Limited
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MRN Cane Power India Limited was a public limited company based in Bagalkot, Karnataka, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the sugar processing segment of the agriculture sector. It was incorporated on 24 February 2011.
The company was registered with the Registrar of Companies (ROC), Bangalore, under CIN U15420KA2011PLC057254. Its GSTIN is 29AAHCM8920F1Z8 (Karnataka).
The company had an authorised share capital of ₹150 Cr and a paid-up capital of ₹95 Cr. It was led by directors including Hanumant Rudrappa Nirani (Managing Director) and Shrishail Rudrappa Nirani.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at No.342 Kallapur (S.K.) Khanapur (S.K.) Taluk Badami, Bagalkot, Karnataka, India – 587155.
As per the financials filed for FY 2022, the company reported a revenue of ₹394.17 Cr, a growth of 133% compared to the previous year. For the same year it recorded a net loss of ₹46.66 Cr (net margin -11.8%) and EBITDA of ₹51.51 Cr (EBITDA margin 13.1%). Revenue has grown at a compounded annual rate (CAGR) of 416% over five years.
The company had about 467 employees on its provident fund (EPFO) records before it was dissolved.
As per MCA filings, the company had satisfied charges of ₹260 Cr on record. Court records list 108 cases involving the company, including 106 filed by the company and 2 filed against it; 33 cases are pending. The company has 2 deals on record (1 funding round, 1 rights issue), with disclosed funding of ₹59.88 Cr; the latest was in May 2021. Its 4 peer companies in the Agriculture industry (Sugar, Thermal Power Plants), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 1 larger and 3 smaller; the largest is Bhairavnath Sugar Works Limited with revenue of ₹399.64 Cr.
The last known website on record is niranigroups.com.
Company details
Contact details
MRN Cane Power India Limited's registered office is in Bagalkot, Karnataka. Its website is niranigroups.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressNo.342 Kallapur (S.K.) Khanapur (S.K.) Taluk Badami, Bagalkot, Karnataka, India – 587155
- IndustryAgriculture, Sugar Processing
To see the full contact details of MRN Cane Power India 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 MRN Cane Power India are manufacturing and electricity, gas, steam and air condition supply. In detail, this covers food, beverages and tobacco products and electric power generation, transmission and distribution. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products | |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of MRN Cane Power India Limited, buy the company report.
Financials of MRN Cane Power India Limited
FY 2022 filings availableMRN Cane Power India Limited reported revenue of ₹394.17 Cr (up 133% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 416% over five years, including 133% growth in the latest year. EBITDA rose 30% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹394.17 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹51.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹46.66 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 13.1% | ||||
| Net Profit Margin | -11.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Current Ratio | |||||
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| 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 MRN Cane Power India Limited, buy the company report.
Board of directors of MRN Cane Power India Limited
MRN Cane Power India has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shrishail Rudrappa Nirani Also directs: Vijayashree Sugars & Power Limited | Director | 25 Jan 2016 | 10 Years 8 Months | As last reported |
| Hanumant Rudrappa Nirani Also directs: Nirani Renewable Energy Private Limited | Managing Director | 25 Feb 2016 | 10 Years 7 Months | As last reported |
| Sangamesh Rudrappa Nirani Also directs: Accutrade Global LLP, Mahaveer Silicons Private Limited, Nirani Sugars Limited and 5 more | Director | 25 Jan 2016 | 10 Years 8 Months | As last reported |
Peer comparison
MRN Cane Power India Limited is compared with the 4 companies closest to it by revenue in the Agriculture industry (Sugar, Thermal Power Plants), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Bhairavnath Sugar Works Limited | ₹399.64 Cr (FY 2024) | -61.0% | Pune, Maharashtra, India | |||
| MRN Cane Power India Limitedthis company | ₹394.17 Cr (FY 2022) | -₹46.66 Cr | -11.8% | 133.0% | 467 | Bagalkot, Karnataka, India |
| Vinp Distilleries and Sugars Private Limited | ₹393.05 Cr (FY 2025) | 31.0% | Bangalore, Karnataka, India | |||
| G7 Sugar Limited | ₹377.17 Cr (FY 2025) | -6.0% | Gangakhed, Maharashtra, India | |||
| Ponni Sugars (Erode) Limited | ₹371.41 Cr (FY 2025) | -15.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of MRN Cane Power India Limited, buy the company report.
Auditor
MRN Cane Power India Limited is audited by Y C R J & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Y C R J & ASSOCIATES | FY 2022 | 006927S |
Shareholding
The shareholding of MRN Cane Power India Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of MRN Cane Power India Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 May 2020 | 100340771 | Bank of India | ₹25 Cr | Satisfied | |
| 31 Aug 2019 | 100297673 | Others | ₹187 Cr | Satisfied | |
| 02 Nov 2018 | 100213503 | Others | ₹23 Cr | Satisfied | |
| 23 Aug 2018 | 100201473 | Others | ₹25 Cr | Satisfied |
To see the full charge records of MRN Cane Power India Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
MRN Cane Power India Limited has 2 deals on record (1 funding round, 1 rights issue), with disclosed funding of ₹59.88 Cr; the latest was in May 2021.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2021 | Rights issue | ₹20 Cr | Investors: Others-MRN Cane Power India Limited, 3 individuals |
| Mar 2016 | Funding round | ₹59.88 Cr | Investors: Others-MRN Cane Power India Limited, Vijayashree Sugars & Power Limited , 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
MRN Cane Power India Limited has 108 court cases on record: 106 filed by MRN Cane Power India, 2 filed against it. 33 cases are pending and 75 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 104 | 1 | 31 |
| High courts | 2 | 1 | 2 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 108)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed against the company by Badami Sugars Limited | Pending |
| High Court of Karnataka | Writ petition | Filed by the company against The Assistant Commissioner of Commercial Taxes (Audit) | Pending |
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
| District court, BAGALKOT, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
To see the full case history of MRN Cane Power India 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 MRN Cane Power India Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
MRN Cane Power India Limited has a workforce of 467 employees on its EPFO records as of Apr 02, 2024, across 1 active EPFO establishment.
GST
MRN Cane Power India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAHCM8920F1Z8 | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of MRN Cane Power India Limited, buy the company report.
Recent activity
MRN Cane Power India Limited has 8 board changes on record since 2015: 3 appointments and 5 cessations. The latest: Hanumant Rudrappa Nirani ceased to be Additional Director on 01 Jun 2019.
8 earlier events are in the company report.
Frequently asked questions
MRN Cane Power India has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
MRN Cane Power India was a public limited company based in Bagalkot, Karnataka, India. The company worked in sugar processing, within the agriculture industry. It was incorporated on 24 February 2011 and is registered under CIN U15420KA2011PLC057254. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
MRN Cane Power India was incorporated on 24 February 2011. It is registered with the Registrar of Companies, Bangalore.
MRN Cane Power India had 3 directors:
- Hanumant Rudrappa Nirani - Managing Director
- Shrishail Rudrappa Nirani - Director
- Sangamesh Rudrappa Nirani - Director
The CIN (Corporate Identification Number) of MRN Cane Power India is U15420KA2011PLC057254. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of MRN Cane Power India is at No.342 Kallapur S.K. Khanapur S.K. Taluk Badami, Bagalkot, Karnataka, India – 587155.
MRN Cane Power India can be reached through the website niranigroups.com. Its registered office is in Bagalkot, Karnataka, India.
The latest financial statements of MRN Cane Power India on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of MRN Cane Power India is 29AAHCM8920F1Z8, registered in Karnataka.
MRN Cane Power India operated in the agriculture industry, in the sugar processing segment.
MRN Cane Power India has 2 deals on record (1 funding round, 1 rights issue), with disclosed funding of ₹59.88 Cr; the latest was in May 2021.