About Facor Steels Limited
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Facor Steels Limited is a public limited company based in Nagpur, Maharashtra, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the steel manufacturing and processing segment of the metals and mining sector. It was incorporated on 13 May 2004.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L27100MH2004PLC146283. The company has 4 GST registrations on record, none of which is active. It is recorded as listed by MCA, but trading in its shares on BSE (532657) has been suspended, so they do not currently trade on a stock exchange.
The company has an authorised share capital of ₹60 Cr and a paid-up capital of ₹53.43 Cr. It is led by directors including Vinodkumar Vithaldasji Saraf (Managing Director) and Champaka Rangachari.
Its last annual general meeting (AGM) was held on 28 September 2015, and its latest financial statements are for the year ended 31 March 2015. The registered office is at 46 – A & B MIDC Ind. Estate Hingna Road Hingana Road, Nagpur, Maharashtra, India – 440028.
As per the financials filed for FY 2016, the company reported a revenue of ₹1.89 Cr, a decline of 94% compared to the previous year. For the same year it recorded a net loss of ₹14.26 Cr and EBITDA of -₹5.97 Cr (EBITDA margin -315.9%).
The company has about 11 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Facor Steel. As per MCA filings, the company has open charges of ₹154.25 Cr and satisfied charges of ₹67.13 Cr on record. Court records list 39 cases involving the company, including 19 filed by the company and 20 filed against it; 6 cases are pending. The company has 41 deals on record (41 market trades); the latest was in June 2012. Its 5 peer companies in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products) are compared by revenue, 3 larger and 2 smaller; the largest is Jalaram Stainless Steel Private Limited with revenue of ₹1.91 Cr.
The last known website on record is facorsteel.com.
Company details
Contact details
Facor Steels Limited's registered office is in Nagpur, Maharashtra. Its website is facorsteel.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address46 – A & B MIDC Ind. Estate Hingna Road Hingana Road, Nagpur, Maharashtra, India – 440028
- IndustryMetals and Minerals, Steel Manufacturing & Processing
To see the full contact details of Facor Steels 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
Brands
Facor Steels operates one associated brand: Facor Steel. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Steel and steel products are manufactured by Facor Steel. | facorsteel.com |
Financials of Facor Steels Limited
FY 2015 filings availableFacor Steels Limited reported revenue of ₹1.89 Cr (down 94% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue fell 94% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹1.89 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | -₹5.97 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹14.26 Cr | |
| 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 2015-16 | FY 2014-15 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -315.9% | |
| Net Profit Margin | ||
| 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 Facor Steels Limited, buy the company report.
Board of directors of Facor Steels Limited
Facor Steels has 8 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vinodkumar Vithaldasji Saraf Also directs: Sequential Advisors LLP, Fal Power Ventures Private Limited, Shree Ram Durga Prasad Ores Private Limited and 4 more | Managing Director | 01 Aug 2004 | 22 Years 2 Months | As last reported |
| Champaka Rangachari | Director | 30 Mar 2015 | 11 Years 6 Months | As last reported |
| Narayan Das Saraf | Director | 28 Apr 2006 | 20 Years 5 Months | As last reported |
| Keshaorao Atmaram Pardhi | Director | 18 Apr 2014 | 12 Years 6 Months | As last reported |
| Anand Sadashiv Kapre Also directs: Sunflag Iron and Steel Co Ltd | Director | 20 Jul 2004 | 22 Years 3 Months | As last reported |
| Mohandas Adige Shenoy | Director | 07 Nov 2011 | 14 Years 11 Months | As last reported |
Peer comparison
Facor Steels Limited is compared with the 5 companies closest to it by revenue in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Jalaram Stainless Steel Private Limited | ₹1.91 Cr (FY 2025) | -69.0% | Ahmedabad, Gujarat, India | |||
| Sail Bansal Service Centre Limited | ₹1.91 Cr (FY 2025) | -37.0% | Kolkata, West Bengal, India | |||
| Saraswati Concast Private Limited | ₹1.9 Cr (FY 2021) | -93.0% | Delhi, India | |||
| Facor Steels Limitedthis company | ₹1.89 Cr (FY 2016) | -₹14.26 Cr | -94.0% | Nagpur, Maharashtra, India | ||
| Rebirth Industries Private Limited | ₹1.89 Cr (FY 2025) | -38.0% | Wardha, Maharashtra, India | |||
| Sai Ram Steel Private Limited | ₹1.88 Cr (FY 2025) | -78.0% | Raigarh, Chhattisgarh, India |
To see the full peer comparison of Facor Steels Limited, buy the company report.
Auditor
Facor Steels Limited is audited by SALVE & Co. for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SALVE & Co. | FY 2016 | 109003W |
Shareholding
The shareholding of Facor Steels Limited is on record for 2 financial years, the latest being FY 2016, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2016 | FY 2015 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Facor Steels Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Apr 2009 | 10160495 | Bank of India as Lead Consortium Bank | ₹142.4 Cr | Open | |
| 24 Jun 2008 | 10113945 | Indian Overseas Bank | ₹11.85 Cr | Open | |
| 28 Jul 2006 | 10013398 | State Bank of Bikaner & Jaipur | ₹2.63 Cr | Satisfied | |
| 26 Dec 2005 | 80041994 | Syndicate Bank | ₹8.55 Cr | Satisfied | |
| 29 Oct 2005 | 80045579 | State Bank of India | ₹15 Cr | Satisfied |
To see the full charge records of Facor Steels Limited, buy the company report.
Total charge records: 8 View all charges
Deals & funding
Facor Steels Limited has 41 deals on record (41 market trades); the latest was in June 2012.
Deals on record (5 of 41)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2007 | Market trade | ₹1.54 Cr | Seller: JMP Securities Private Limited |
| Dec 2007 | Market trade | ₹1.43 Cr | Buyer: JMP Securities Private Limited |
| Dec 2007 | Market trade | ₹5.35 Cr | Buyer: JMP Securities Private Limited Seller: JMP Securities Private Limited |
| Dec 2007 | Market trade | ₹3.59 Cr | Buyer: JMP Securities Private Limited Seller: JMP Securities Private Limited , Cornell Corporation |
| Nov 2007 | Market trade | ₹87.4 Lakh | Buyer: JMP Securities Private Limited |
To see the full deal history of Facor Steels 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
Facor Steels Limited has 39 court cases on record: 19 filed by Facor Steels, 20 filed against it. 6 cases are pending and 33 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 19 | 9 | 4 |
| District courts | 18 | 9 | 2 |
| Supreme Court | 1 | 1 | 0 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 39)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Madhur Engineers Pvt Ltd and Anr and 3 others | Pending |
| Bombay High Court | Court case (APL) | Filed by the company against M/S. Madhur Engineers Pvt. Ltd. and Anr | Disposed |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Madhur Engineers Pvt Ltd and 1 other | Disposed |
| District court, Pune, Maharashtra | Court case (Cri.Rev.App.) | Filed by the company against M/S Madhur Engineers Pvt Ltd 1 and 1 other | Disposed |
| District court, Pune, Maharashtra | Criminal miscellaneous application | Filed by the company against M/S Madhur Engineers Pvt. Ltd. Etc 1 and 1 other | Disposed |
To see the full case history of Facor Steels 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 Facor Steels Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Facor Steels has 4 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Facor Steels Limited, buy the company report.
Recent activity
Facor Steels Limited has 34 board changes on record since 2004: 21 appointments and 13 cessations. The latest: Murlidhar Durgaprasadji Saraf ceased to be Managing Director on 25 May 2015.
44 earlier events are in the company report.
Frequently asked questions
Facor Steels is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Facor Steels is a company under liquidation, formerly operating as a public limited company based in Nagpur, Maharashtra, India. The company works in steel manufacturing and processing, within the metals and minerals industry. It was incorporated on 13 May 2004 and is registered under CIN L27100MH2004PLC146283. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Facor Steels has 8 current directors:
- Vinodkumar Vithaldasji Saraf - Managing Director
- Champaka Rangachari - Director
- Narayan Das Saraf - Director
- Keshaorao Atmaram Pardhi - Director
- Anand Sadashiv Kapre - Director
- Mohandas Adige Shenoy - Director
- Mahendra Bhawanji Thaker - Director
- Anurag Murlidharji Saraf - Director
The latest financial statements of Facor Steels on record with the MCA are for the year ended 31 March 2015. Its last annual general meeting was held on 28 September 2015. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Facor Steels is L27100MH2004PLC146283. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Facor Steels is recorded as a listed company by MCA, but trading in its shares on BSE (532657) has been suspended, so they do not currently trade on a stock exchange.
Facor Steels has open charges of ₹154.25 Cr and satisfied charges of ₹67.13 Cr as per latest MCA filings.
Facor Steels has 39 court cases on record: 19 filed by the company and 20 filed against it. 6 are pending. Most are in the high courts.
Facor Steels was incorporated on 13 May 2004. It is registered with the Registrar of Companies, Mumbai.
Facor Steels has 41 deals on record (41 market trades); the latest was in June 2012.
The peers of Facor Steels by revenue are Jalaram Stainless Steel Private Limited, Sail Bansal Service Centre Limited, Saraswati Concast Private Limited, Rebirth Industries Private Limited, Sai Ram Steel Private Limited, all in the Metals and Minerals industry (Steel), with the same principal business activity (metal and metal products).