MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-KR-03-0173893
Polyflex(India) Private Limited - consumer goods in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹16.05 Cr
▼ 6% YoY
Net profit · FY 2024
₹3.22 Cr
Net margin 20.1%
EBITDA · FY 2024
₹5.24 Cr
EBITDA margin 32.6%
Authorised capital
₹75 Lakh
Registered with MCA
Paid-up capital
₹59.2 Lakh
Issued & subscribed
Open charges
₹5.75 Cr
Satisfied ₹61.84 Cr
Company age
43 yrs
Est. 1983
Directors on board
5
As per MCA filings
About Polyflex(India) Private Limited
Data last updated:
Polyflex(India) Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the home furnishings manufacturing segment of the consumer goods sector. It was incorporated on 07 November 1983 and has been in existence for over 43 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U24134KA1983PTC005669. Its GSTIN is 29AABCP2366A1ZP (Karnataka). The company holds 4 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹75 Lakh and a paid-up capital of ₹59.2 Lakh. It is led by directors including Anand Balram Nichani (Whole-Time Director) and Vinay Hiru Panjabi.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Royal Park No. 5 & 6 First Floor Park Road Tasker Town Ward No. 78, Bangalore, Karnataka, India – 560051.
As per the financials filed for FY 2024, the company reported a revenue of ₹16.05 Cr, a decline of 6% compared to the previous year. For the same year it recorded a net profit of ₹3.22 Cr (net margin 20.1%) and EBITDA of ₹5.24 Cr (EBITDA margin 32.6%). Revenue has grown at a compounded annual rate (CAGR) of 14% over three years and 11% over five years.
The company is associated with 1 brand: Polyflex India. As per MCA filings, the company has open charges of ₹5.75 Cr and satisfied charges of ₹61.84 Cr on record. Court records list 15 cases involving the company, including 9 filed by the company and 6 filed against it.
Polyflex(India) Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0173893). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website magniflexindia.com.
Company details
CIN U24134KA1983PTC005669
Registration Number 005669
Incorporation Date 07 November 1983
ROC Bangalore
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-KR-03-0173893
Key People
Anand Balram Nichani Whole-Time Director Vinay Hiru Panjabi Director Swarna Nichani Director Recognitions & Rankings of Polyflex(India)
Contact details
Polyflex(India) Private Limited's registered office is in Bangalore, Karnataka. Its website is magniflexindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressRoyal Park No. 5 & 6 First Floor Park Road Tasker Town Ward No. 78, Bangalore, Karnataka, India – 560051
- IndustryConsumer Goods, Home Furnishings Manufacturing
To see the full contact details of Polyflex(India) Private Limited, buy the company report.
Comprehensive company report
Polyflex(India) 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
Polyflex(India) operates one associated brand: Polyflex India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Vibration control products and isolation systems are provided by Polyflex in India. | polyflexindia.net |
Business activity
The main business activity of Polyflex(India) 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 Polyflex(India) Private Limited, buy the company report.
Financials of Polyflex(India) Private Limited
FY 2025 filings availablePolyflex(India) Private Limited reported revenue of ₹16.05 Cr (down 6% YoY) for FY 2024.
Revenue · FY 2024
₹16.05 Cr ▼ 6%
Net profit · FY 2024
₹3.22 Cr margin 20.1%
EBITDA · FY 2024
₹5.24 Cr margin 32.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 6%
3 years · compounded
▲ 14%
5 years · compounded
▲ 11%
EBITDA CAGR growth
1 year
▼ 23%
3 years · compounded
▲ 29%
5 years · compounded
▲ 10%
Revenue fell 6% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 11%. EBITDA fell 23% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹5.24 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹3.22 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 | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 32.6% | ||||
| Net Profit Margin | 20.1% | ||||
| 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 Polyflex(India) Private Limited, buy the company report.
Board of directors of Polyflex(India) Private Limited
Polyflex(India) 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 |
|---|---|---|---|---|
| Vinay Hiru Panjabi Also directs: V H P A & Co LLP, Light and Shade Electricals Private Limited, Chitravati Consultants Private Limited and 2 more | Director | 30 Nov 2000 | 25 Years 11 Months | Current |
| Swarna Nichani Also directs: Polyflex Technologies Private Limited | Director | 30 Aug 2017 | 9 Years 2 Months | Current |
| Sreenidhi Anand Nichani | Director | 25 Aug 2021 | 5 Years 2 Months | Current |
| Anand Balram Nichani | Whole-Time Director | 28 Sep 1992 | 34 Years 1 Months | Current |
| Premnidhi Nichani | Director | 17 Mar 2025 | 1 Years 7 Months | Current |
Auditor
Polyflex(India) Private Limited is audited by Raghavan Chaudhuri & Narayanan for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Raghavan Chaudhuri & Narayanan | FY 2023 | 007761S |
Shareholding
The shareholding of Polyflex(India) 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 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Polyflex(India) Private Limited, buy the company report.
Charges & borrowings
Open charges
₹5.75 Cr
Satisfied charges
₹61.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Nov 2024 | 101004953 | Others | ₹3 Cr | Open | |
| 20 Sep 2023 | 100808205 | The Hongkong and Shanghai Banking Corporation Limited | ₹2.75 Cr | Open | |
| 12 Dec 2012 | 10398042 | Corporation Bank | ₹7.5 Cr | Satisfied | |
| 22 Apr 2001 | 90192387 | Citibank N.A | ₹4 Cr | Satisfied | |
| 20 Nov 1999 | 90192154 | Karnataka State Financial Corportion | ₹16 Lakh | Satisfied |
To see the full charge records of Polyflex(India) Private Limited, buy the company report.
Total charge records: 24 View all charges
Legal cases
Polyflex(India) Private Limited has 15 court cases on record: 9 filed by Polyflex(India), 6 filed against it. All cases are disposed.
Total cases
15
Filed by the company
9
Filed against the company
6
Disposed
15
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 11 | 5 | 0 |
| Supreme Court | 3 | 1 | 0 |
| District courts | 1 | 0 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Kanpur Nagar, Uttar Pradesh | Interim or miscellaneous application | Filed by the company against RGP Moulds Private Limited | Disposed |
| Supreme Court | Court case (0321-Direct Taxes Matter : CBDT circular) | Filed against the company by Commissioner of Income Tax C.R. Buildings, Queens Road , District: Bangalore ,Bangalore , Karnataka and 1 other | Disposed |
| Supreme Court | Court case (0318-Direct Taxes Matter : Deductions/exemptions) | Filed by the company against The Commissioner of Income Tax C.R. Building, Queens Road , District: Bangalore ,Bangalore , Karnataka and 1 other | Disposed |
| High Court of Karnataka | Court case (RP) | Filed against the company by Commissioner of Income Tax-Iii | Disposed |
| High Court of Karnataka | Appeal | Filed by the company against The Director General of Income Tax | Disposed |
To see the full case history of Polyflex(India) 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
Polyflex(India) Private Limited has 3 MSME Form 1 returns on record between 2021 and 2022, listing 3 overdue payments to 2 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Affreighter Logistics Private Limited | |||
| Total Shipping & Logistics Pvt Ltd |
To see the full MSME payment records of Polyflex(India) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Polyflex(India) has 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Associated companies
GST
Polyflex(India) has 4 GST registrations: 2 active and 2 cancelled or inactive.
Total GSTINs
4
Active
2
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCP2366A1ZP | Karnataka | Active | 01 Jul 2017 |
| 27AABCP2366A1ZT | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Polyflex(India) Private Limited, buy the company report.
Recent activity
Polyflex(India) Private Limited has 7 board changes on record since 1992: 5 appointments and 2 cessations. The latest: Premnidhi Nichani was appointed as Director on 17 Mar 2025.
AGM
Polyflex(India) Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Polyflex(India) Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Premnidhi Nichani was appointed as Director.
Charges
A charge with Others amounted to Rs. 300.00 Lakh with Charge ID 101004953 was registered on 13 Nov 2024.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited amounted to Rs. 275.00 Lakh with Charge ID 100808205 was registered on 20 Sep 2023.
Charges
A charge registered on 12 Dec 2012 via Charge ID 10398042 with Corporation Bank was fully satisfied on 18 May 2023.
Appointed
Sreenidhi Anand Nichani was appointed as Director.
Ceased
Nichani Udhavdas Balram ceased to be Managing Director.
Ceased
Swarna Nichani ceased to be Additional Director.
Appointed
Swarna Nichani was appointed as Director.
Charges
A charge with Corporation Bank amounted to Rs. 750.00 Lakh with Charge ID 10398042 was registered on 12 Dec 2012.
Charges
A charge registered on 24 Sep 1987 via Charge ID 90190200 with Corporation Bank was fully satisfied on 28 Feb 2009.
50 earlier events are in the company report.
Frequently asked questions
Polyflex(India) is an active private limited company based in Bangalore, Karnataka, India. The company works in home furnishings manufacturing, within the consumer goods industry. It was incorporated on 07 November 1983 (43+ years old) and is registered under CIN U24134KA1983PTC005669.
Polyflex(India) has 5 current directors:
- Anand Balram Nichani - Whole-Time Director
- Vinay Hiru Panjabi - Director
- Swarna Nichani - Director
- Sreenidhi Anand Nichani - Director
- Premnidhi Nichani - Director
The latest financial statements of Polyflex(India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Polyflex(India) is 29AABCP2366A1ZP, registered in Karnataka. The company has 4 GST registrations in all, of which 2 are active and 2 are cancelled or inactive. Other active GSTINs include 27AABCP2366A1ZT (Maharashtra).
The CIN (Corporate Identification Number) of Polyflex(India) is U24134KA1983PTC005669. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Polyflex(India) has 15 court cases on record: 9 filed by the company and 6 filed against it. Most are in the high courts.
Polyflex(India) was incorporated on 07 November 1983, making it 43+ years old. It is registered with the Registrar of Companies, Bangalore.
Premnidhi Nichani was appointed as Director on 17 Mar 2025. Sreenidhi Anand Nichani was appointed as Director on 25 Aug 2021. Nichani Udhavdas Balram ceased to be Managing Director on 23 Feb 2018. Polyflex(India) has 7 board changes on record in total.
Yes, Polyflex(India) is registered as a small enterprise under Udyam registration (number: UDYAM-KR-03-0173893).
Polyflex(India) has 3 MSME Form 1 returns on record between 2021 and 2022, listing 3 overdue payments to 2 micro and small suppliers. The latest return was filed on 08 Feb 2024.
Polyflex(India) can be reached through the website magniflexindia.com. Its registered office is in Bangalore, Karnataka, India.
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