MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-19-0022891
Advance Paints Private Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹39.78 Cr
▼ 15% YoY
Net profit · FY 2024
₹1.16 Cr
Net margin 2.9%
EBITDA · FY 2024
₹3.43 Cr
EBITDA margin 8.6%
Authorised capital
₹9.5 Cr
Registered with MCA
Paid-up capital
₹1.5 Cr
Issued & subscribed
Open charges
₹15 Cr
Secured borrowings
Company age
85 yrs
Est. 1941
Employees · EPFO
99
Provident fund records
About Advance Paints Private Limited
Data last updated:
Advance Paints Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the paint and coatings segment of the manufacturing sector. It was incorporated on 31 July 1941 and has been in existence for over 85 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24110MH1941PTC003381. Its GSTIN is 27AAACA8958J1Z8 (Maharashtra). The company holds 6 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹9.5 Cr and a paid-up capital of ₹1.5 Cr. It was formerly known as Advance Paints Limited. It is led by directors including Amit Hasmukhlal Parikh (Managing Director) and Harshad Chhotalal Sheth.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹39.78 Cr, a decline of 15% compared to the previous year. For the same year it recorded a net profit of ₹1.16 Cr (net margin 2.9%) and EBITDA of ₹3.43 Cr (EBITDA margin 8.6%). Revenue has grown at a compounded annual rate (CAGR) of 5% over three years and 4% over five years.
The company has about 99 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Advance Paints. As per MCA filings, the company has open charges of ₹15 Cr on record. Court records list 52 cases involving the company, including 43 filed by the company and 9 filed against it; 3 cases are pending. The company has 6 deals on record (5 secondary share transfers, 1 funding round), with disclosed funding of ₹7 Lakh; the latest was in April 2023.
Advance Paints Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0022891). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website advancepaints.com.
Company details
CIN U24110MH1941PTC003381
Registration Number 003381
Incorporation Date 31 July 1941
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 26 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-19-0022891
Key People
Amit Hasmukhlal Parikh Managing Director Harshad Chhotalal Sheth Director Mahendra Chhotalal Sheth Director Recognitions & Rankings of Advance Paints
Contact details
Advance Paints Private Limited's registered office is in Mumbai, Maharashtra. Its website is advancepaints.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAdvance House Plot No. A Makwana Road Ark Ind. Compound Marol Naka Andheri, (E), Mumbai, Maharashtra, India – 400059
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Advance Paints Private Limited, buy the company report.
Comprehensive company report
Advance Paints Private Limited - one report that includes everything
- 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
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Brands
Advance Paints operates one associated brand: Advance Paints. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufactures industrial paints and coatings for oil, gas, defense, railway, and infrastructure applications. | advancepaints.com |
Business activity
The main business activity of Advance Paints is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products |
To see the full business activity and turnover split of Advance Paints Private Limited, buy the company report.
Financials of Advance Paints Private Limited
FY 2025 filings availableAdvance Paints Private Limited reported revenue of ₹39.78 Cr (down 15% YoY) for FY 2024.
Revenue · FY 2024
₹39.78 Cr ▼ 15%
Net profit · FY 2024
₹1.16 Cr margin 2.9%
EBITDA · FY 2024
₹3.43 Cr margin 8.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 15%
3 years · compounded
▲ 5%
5 years · compounded
▲ 4%
EBITDA CAGR growth
1 year
▲ 20%
3 years · compounded
▲ 38%
5 years · compounded
▲ 65%
Revenue fell 15% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 4%. EBITDA rose 20% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Total Expenses | |||||
| EBITDA | ₹3.43 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.16 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.6% | ||||
| Net Profit Margin | 2.9% | ||||
| 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 Advance Paints Private Limited, buy the company report.
Board of directors of Advance Paints Private Limited
Advance Paints has 5 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Harshad Chhotalal Sheth | Director | 24 May 1973 | 53 Years 5 Months | Current |
| Mahendra Chhotalal Sheth | Director | 07 Mar 1986 | 40 Years 7 Months | Current |
| Renu Amit Parikh | Director | 01 Sep 2022 | 4 Years 1 Months | Current |
| Amit Hasmukhlal Parikh | Managing Director | 08 Feb 2023 | 3 Years 8 Months | Current |
| Dimple Rakesh Agrawal | Director | 28 Aug 2023 | 3 Years 1 Months | Current |
Auditor
Advance Paints Private Limited is audited by A. W. KETKAR & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A. W. KETKAR & CO. | FY 2023 | 105006W |
Shareholding
The shareholding of Advance Paints 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 Advance Paints Private Limited, buy the company report.
Charges & borrowings
Open charges
₹15 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Nov 2020 | 100393687 | Hdfc Bank Limited | ₹15 Cr | Open |
To see the full charge records of Advance Paints Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Advance Paints Private Limited has 6 deals on record (5 secondary share transfers, 1 funding round), with disclosed funding of ₹7 Lakh; the latest was in April 2023.
Total deals
6
Secondary share transfers
5
Funding round
1
Disclosed funding
₹7 Lakh
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 4 individuals |
| Sep 2022 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 4 individuals |
| Jan 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Oct 2018 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: an individual |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: N.C. Sheth Huf, 3 individuals Seller: 4 individuals |
To see the full deal history of Advance Paints 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
Advance Paints Private Limited has 52 court cases on record: 43 filed by Advance Paints, 9 filed against it. 3 cases are pending and 49 are disposed.
Total cases
52
Filed by the company
43
Filed against the company
9
Pending
3
Disposed
49
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 6 | 1 |
| District courts | 24 | 2 | 2 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 52)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed by the company against Osnar Chemical Pvt Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed by the company against Osnar Chemical Pvt Ltd | Pending |
| High Court, MAHARASHTRA | Writ petition | Filed against the company by M/S. Osnar Chemical Pvt. Ltd. | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed by the company against Osnar Chemical Pvt Ltd | Disposed |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed by the company against N B Metal Pvt Ltd | Disposed |
To see the full case history of Advance Paints 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
No delayed payments to MSME suppliers are on our record for Advance Paints Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Advance Paints Private Limited has a workforce of 99 employees on its EPFO records as of Oct 09, 2024, across 2 active EPFO establishments.
Employee count
99
Active EPFO establishments
2
Employee growth
3.12%
GST
Advance Paints has 6 GST registrations: 4 active and 2 cancelled or inactive.
Total GSTINs
6
Active
4
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA8958J1Z8 | Maharashtra | Active | 01 Jul 2017 |
| 24AAACA8958J1ZE | Gujarat | Active | 01 Jul 2017 |
| 29AAACA8958J1Z4 | Karnataka | Active | 01 Jul 2017 |
| 33AAACA8958J1ZF | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Advance Paints Private Limited, buy the company report.
Recent activity
Advance Paints Private Limited has 9 board changes on record since 1973: 7 appointments and 2 cessations. The latest: Dimple Rakesh Agrawal was appointed as Director on 28 Aug 2023.
AGM
Advance Paints Private Limited last Annual general meeting of members was held on 26 Sep 2025 as per latest MCA records.
Filing
Advance Paints Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Appointed
Dimple Rakesh Agrawal was appointed as Director.
Ceased
Manish Narendra Sheth ceased to be Whole-Time Director.
Appointed
Amit Hasmukhlal Parikh was appointed as Managing Director.
Charges
A charge with Hdfc Bank Limited of Rs. 15.00 Cr registered on 20 Nov 2020 with Charge ID 100393687 was modified on 04 Feb 2023.
Appointed
Renu Amit Parikh was appointed as Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 15.00 Cr with Charge ID 100393687 was registered on 20 Nov 2020.
Ceased
Bakulesh Sheth Chhotalal ceased to be Director.
Appointed
Manish Narendra Sheth was appointed as Whole-Time Director.
Appointed
Mahendra Chhotalal Sheth was appointed as Director.
Appointed
Bakulesh Sheth Chhotalal was appointed as Director.
2 earlier events are in the company report.
Frequently asked questions
Advance Paints is an active private limited company based in Mumbai, Maharashtra, India. The company works in paint and coatings, within the manufacturing industry. It was incorporated on 31 July 1941 (85+ years old) and is registered under CIN U24110MH1941PTC003381.
Advance Paints has 5 current directors:
- Amit Hasmukhlal Parikh - Managing Director
- Harshad Chhotalal Sheth - Director
- Mahendra Chhotalal Sheth - Director
- Renu Amit Parikh - Director
- Dimple Rakesh Agrawal - Director
The latest financial statements of Advance Paints on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Advance Paints is 27AAACA8958J1Z8, registered in Maharashtra. The company has 6 GST registrations in all, of which 4 are active and 2 are cancelled or inactive. Other active GSTINs include 24AAACA8958J1ZE (Gujarat), 29AAACA8958J1Z4 (Karnataka), 33AAACA8958J1ZF (Tamil Nadu).
The CIN (Corporate Identification Number) of Advance Paints is U24110MH1941PTC003381. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Advance Paints has 52 court cases on record: 43 filed by the company and 9 filed against it. 3 are pending. Most are in the high courts.
Advance Paints was incorporated on 31 July 1941, making it 85+ years old. It is registered with the Registrar of Companies, Mumbai.
Advance Paints has 6 deals on record (5 secondary share transfers, 1 funding round), with disclosed funding of ₹7 Lakh; the latest was in April 2023.
Dimple Rakesh Agrawal was appointed as Director on 28 Aug 2023. Manish Narendra Sheth ceased to be Whole-Time Director on 28 Aug 2023. Amit Hasmukhlal Parikh was appointed as Managing Director on 08 Feb 2023. Advance Paints has 9 board changes on record in total.
Yes, Advance Paints is registered as a small enterprise under Udyam registration (number: UDYAM-MH-19-0022891).