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.
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.
- EmailLocked
- TelephoneLocked
- 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
- 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
- One PDF report, delivered after checkout
Business Activity of Polyflex(India) Private Limited
The main business activity of Polyflex(India) is trade. In detail, this covers wholesale trading.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Polyflex(India) Private Limited FY 2025 filings available
Polyflex(India) Private Limited reported revenue of ₹16.05 Cr (down 6% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Polyflex(India) Private Limited
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 of Polyflex(India) Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Polyflex(India) Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Polyflex(India) are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Polyflex(India) Private Limited
Polyflex(India) Private Limited is compared with the companies closest to it by revenue in the Consumer Products industry (Home Furnishings Manufacturers). Its own revenue is ₹16.05 Cr.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Neelkamal Furnishing (India) Private Limited | ₹16.2 Cr | ₹49.8 Lakh | 3% | Mumbai, Maharashtra, India | ||
| Sidra Homestyles Private Limited | ₹16.19 Cr | ₹3.96 Cr | -24% | +145% | 72 | Noida, Uttar Pradesh, India |
| Atishay Coir Foam Private Limited | ₹16.09 Cr | ₹32.24 Lakh | -2% | +3% | Faridabad, Haryana, India | |
| Aashna Handicrafts Private Limited | ₹16.08 Cr | ₹35.12 Lakh | 2% | -31% | Alwar, Rajasthan, India | |
| JBT Foams Private Limited | ₹16.07 Cr | ₹1.04 Cr | 6% | +107% | Karur, Tamil Nadu, India | |
| Polyflex(India) Private Limited this company | ₹16.05 Cr | ₹3.22 Cr | 20.1% | Bangalore, Karnataka, India | ||
| Aerocom Cushions Private Limited | ₹15.77 Cr | ₹18.11 Lakh | -1% | -29% | 21 | Nagpur, Maharashtra, India |
| Cozy Touch Poly Foams India Private Limited | ₹15.76 Cr | ₹10.39 Lakh | 1% | +38% | New, Delhi, India | |
| Orchid Overseas Private Limited | ₹15.76 Cr | ₹3.12 Cr | -20% | +39% | 93 | New, Delhi, India |
| K K Talwar Fabrics Private Ltd | ₹15.75 Cr | ₹1.05 Cr | 7% | -27% | New, Delhi, India | |
| Premratan Concast Private Limited | ₹15.64 Cr | ₹18.81 Lakh | 1% | +17% | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Polyflex(India) by revenue in the Consumer Products industry (Home Furnishings Manufacturers), from the latest filed financials of each company. Figures are as filed with the Ministry of Corporate Affairs or the stock exchanges.
Auditor Details of Polyflex(India) Private Limited
Polyflex(India) Private Limited is audited by Raghavan Chaudhuri & Narayanan for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Raghavan Chaudhuri & Narayanan | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
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.
| 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 10 Months | Current |
| Swarna Nichani Also directs: Polyflex Technologies Private Limited | Director | 30 Aug 2017 | 9 Years 1 Months | Current |
| Sreenidhi Anand Nichani | Director | 25 Aug 2021 | 5 Years 1 Months | Current |
| Anand Balram Nichani | Whole-Time Director | 28 Sep 1992 | 34 Years 0 Months | Current |
| Premnidhi Nichani | Director | 17 Mar 2025 | 1 Years 6 Months | Current |
Ownership and Shareholding of Polyflex(India) Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Polyflex(India) Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 13 Nov 2024 | Others | ₹3 Cr | Open |
| 20 Sep 2023 | The Hongkong and Shanghai Banking Corporation Limited | ₹2.75 Cr | Open |
| 12 Dec 2012 | Corporation Bank | ₹7.5 Cr | Satisfied |
| 22 Apr 2001 | Citibank N.A | ₹4 Cr | Satisfied |
| 20 Nov 1999 | Karnataka State Financial Corportion | ₹16 Lakh | Satisfied |
Total charge records: 24 View all charges
Legal Cases of Polyflex(India) Private Limited
Polyflex(India) Private Limited has 15 court cases on record: 9 filed by Polyflex(India), 6 filed against it. All cases are disposed. Status as checked between 29 Sep 2026 and 05 Oct 2026.
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 | Appeal | Filed by the company against D.Devaraj Urs Backward Classes Development Corporation Limited 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 | Court case (RP) | Filed by the company against an individual | Disposed |
| High Court of Karnataka | Appeal | Filed by the company against General of Income Tax | Disposed |
Full case history
All 15 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Polyflex(India) Private Limited
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 totalling ₹2.22 Lakh. 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.
Returns by period
| Period ending | Returns | Overdue payments | Amount reported |
|---|---|---|---|
| 30 Sep 2022 | 2 | 2 | ₹2.07 Lakh |
| 31 Mar 2021 | 1 | 1 | ₹15,000 |
Latest dues on record (2 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Affreighter Logistics Private Limited | ₹1.04 Lakh | 17 Mar 2022 | 08 Feb 2024 |
| Total Shipping & Logistics Pvt Ltd | ₹15,000 | 02 Mar 2021 | 18 Jun 2021 |
Reason given by the company: 1.AFFREIGHTER LOGISTICS PRIVATE LIMITED - After C&F they had delivered 9 nos pillow less as it was lost in customs, hence awaiting confirmation from C&F.
Full MSME payment history
Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts are as reported by Polyflex(India) in its own returns.
Associated Brands with Polyflex(India) Private Limited
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 |
Employees and EPFO Compliance at Polyflex(India) Private Limited
Employment history and EPFO contributions of people linked to Polyflex(India).
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Polyflex(India) Private Limited
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.
News related to Polyflex(India) Private Limited
Recent Activity on Polyflex(India) Private Limited
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.
50 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Polyflex(India) Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Polyflex(India) Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Polyflex(India) Private Limited
Polyflex(India) has 4 GST registrations: 2 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCP2366A1ZP | Karnataka | Active | 01 Jul 2017 |
| 27AABCP2366A1ZT | Maharashtra | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Polyflex(India) Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Polyflex(India) Private Limited
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) reported revenue of ₹16.05 Cr for FY 2024 (down 6% YoY).
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
Polyflex(India) reported a net profit of ₹3.22 Cr (net margin 20.1%) and EBITDA of ₹5.24 Cr (EBITDA margin 32.6%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Polyflex(India) is 14% over three years and 11% over five years. In the latest year (FY 2024) revenue fell 6%. CAGR is the steady yearly rate that links the first and the last year.
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.
The peers of Polyflex(India) by revenue are Neelkamal Furnishing (India) Private Limited, Sidra Homestyles Private Limited, Atishay Coir Foam Private Limited, Aashna Handicrafts Private Limited, JBT Foams Private Limited and 5 more, all in the Consumer Products industry (Home Furnishings Manufacturers).
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.
Polyflex(India) has 3 MSME Form 1 returns on record between 2021 and 2022, listing 3 overdue payments to 2 micro and small suppliers totalling ₹2.22 Lakh. The latest return was filed on 08 Feb 2024.