About Accel Limited
Data last updated:
Accel Limited was a public limited company based in Chennai, Tamil Nadu, 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 IT consulting and support services segment of the technology and IT services sector. It was incorporated on 13 March 1991.
The company was registered with the Registrar of Companies (ROC), Chennai, under CIN U29309TN1991PLC020471. The company has 1 GST registration on record, which is no longer active.
The company had an authorised share capital of ₹6 Cr and a paid-up capital of ₹3.23 Cr. It was led by directors including Narayana Pillai Reghoothama Panicker and Chandrasekaran Ramakrishnan Kolumam.
Its last annual general meeting (AGM) was held on 30 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office was at No.124 3rd Floor Nelson Manickam Road Aminjikarai Chennai 29, Tamil Nadu, India – 600029.
As per the financials filed for FY 2017, the company reported a revenue of ₹2.8 Cr, a decline of 17% compared to the previous year. For the same year it recorded a net profit of ₹74.98 Lakh (net margin 26.8%) and EBITDA of -₹1.64 Cr (EBITDA margin -58.7%). Revenue has declined at a compounded annual rate (CAGR) of 50% over three years.
Its group structure included 3 subsidiaries.
As per MCA filings, the company had open charges of ₹37.1 Cr and satisfied charges of ₹172.55 Cr on record. Court records list 16 cases involving the company, including 8 filed by the company and 8 filed against it; 2 cases are pending.
The last known website on record is accel-india.com.
Company details
Contact details
Accel Limited's registered office is in Chennai, Tamil Nadu. Its website is accel-india.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressNo.124 3rd Floor Nelson Manickam Road Aminjikarai Chennai 29, Tamil Nadu, India – 600029
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Accel 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
Financials of Accel Limited
FY 2017 filings availableAccel Limited reported revenue of ₹2.8 Cr (down 17% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 50% over three years, including a 17% fall 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | ₹2.8 Cr | ||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | -₹1.64 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | ₹74.98 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
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | -58.7% | ||
| Net Profit Margin | 26.8% | ||
| 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 | |||
To see the full financial statements and ratios of Accel Limited, buy the company report.
Board of directors of Accel Limited
Accel has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Narayana Pillai Reghoothama Panicker Also directs: Accel Limited, Medscape Pharma Private Limited, Cybolt Technologies Private Limited and 3 more | Director | 13 Mar 1991 | 35 Years 7 Months | As last reported |
| Chandrasekaran Ramakrishnan Kolumam | Additional Director | 07 Mar 2008 | 18 Years 7 Months | As last reported |
| Chaniyilparampu Nanappan Ramchand Also directs: Medscape Pharma Private Limited, Simazz Therapeutics Private Limited, Apamar Biotech Private Limited and 2 more | Additional Director | 27 Oct 2016 | 9 Years 11 Months | As last reported |
Auditor
Accel Limited is audited by S K RAM ASSOCIATES for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S K RAM ASSOCIATES | FY 2017 | 002842S |
Shareholding
The shareholding of Accel Limited is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Accel Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Aug 2010 | 10236055 | City Union Bank Ltd | ₹75 Lakh | Satisfied | |
| 26 Mar 2009 | 10158478 | State Bank of India | ₹8 Cr | Satisfied | |
| 26 Mar 2009 | 10159073 | State Bank of India | ₹8 Cr | Satisfied | |
| 22 Feb 2007 | 10040350 | The Federal Bank Limited | ₹20 Lakh | Satisfied | |
| 22 Apr 2003 | 90317242 | State Bank of India | ₹106.5 Cr | Satisfied |
To see the full charge records of Accel Limited, buy the company report.
Total charge records: 17 View all charges
Legal cases
Accel Limited has 16 court cases on record: 8 filed by Accel, 8 filed against it. 2 cases are pending and 14 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 15 | 8 | 1 |
| District courts | 1 | 0 | 1 |
Cases on record (5 of 16)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Thiruvananthapuram, Kerala | Criminal complaint | Filed by the company against M/S. Technomark Engineers India (P) Ltd. and 2 others | Pending |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed by the company against M/S.Accel Frontline Limited | Disposed |
| High Court, TAMIL NADU | Court case (OSA) | Filed by the company against M/S.Accel Frontline Limited | Disposed |
| High Court, TAMIL NADU | Court case (COMP.A) | Filed against the company by M/S.Accel Frontline Limited | Disposed |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by The Inspector General of Registration State Government Pleader and 1 other | Pending |
To see the full case history of Accel 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 Accel Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Accel has 3 subsidiary companies. This group structure data is as of FY 2017. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Accel Transmatic Limited | L30007TN1986PLC100219 | |
| Accel Tele.Net Limited | U64201TN2000PLC044470 | |
| Accel Media Ventures Limited | U74999TN1987PLC014976 |
To see the full group structure of Accel Limited, buy the company report.
GST
Accel has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Accel Limited, buy the company report.
Recent activity
Accel Limited has 8 board changes on record since 1991: 3 appointments and 5 cessations. The latest: Chaniyilparampu Nanappan Ramchand was appointed as Additional Director on 27 Oct 2016.
32 earlier events are in the company report.
News
Frequently asked questions
Accel 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.
Accel was a public limited company based in Chennai, Tamil Nadu, India. The company worked in IT consulting and support services, within the information technology industry. It was incorporated on 13 March 1991 and is registered under CIN U29309TN1991PLC020471. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Accel was incorporated on 13 March 1991. It is registered with the Registrar of Companies, Chennai.
Accel had 3 directors:
- Narayana Pillai Reghoothama Panicker - Director
- Chandrasekaran Ramakrishnan Kolumam - Additional Director
- Chaniyilparampu Nanappan Ramchand - Additional Director
The CIN (Corporate Identification Number) of Accel is U29309TN1991PLC020471. 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 Accel is at No.124 3rd Floor Nelson Manickam Road Aminjikarai Chennai 29, Tamil Nadu, India – 600029.
Accel can be reached through the website accel-india.com. Its registered office is in Chennai, Tamil Nadu, India.
The latest financial statements of Accel on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 30 September 2017. Year-wise statements from 2015 are in the company report.
No. Accel has 1 GST registration on record and it is cancelled or inactive.
Accel operated in the information technology industry, in the IT consulting and support services segment.