Polyset Plastics Private Limited

Polyset Plastics Private Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN U25209MH1973PTC016846 Incorporated 15 September 1973 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Private Limited Company manufacturing MSME · Medium
Data last updated
Revenue · FY 2025
₹144.74 Cr
▲ 19% YoY
Net profit · FY 2025
₹13.06 Cr
Net margin 9%
EBITDA · FY 2025
₹23.45 Cr
EBITDA margin 16.2%
Authorised capital
₹12 Cr
Registered with MCA
Paid-up capital
₹8.09 Cr
Issued & subscribed
Open charges
₹35.5 Cr
Satisfied ₹81.37 Cr
Company age
53 yrs
Est. 1973
Employees · EPFO
595
Provident fund records

About Polyset Plastics Private Limited

Data last updated:

Polyset Plastics Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the plastic-based products segment of the manufacturing sector. It was incorporated on 15 September 1973 and has been in existence for over 53 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U25209MH1973PTC016846. Its GSTIN is 27AAACP7373E1ZD (Maharashtra). The company holds 9 GST registrations, of which 4 are active.

The company has an authorised share capital of ₹12 Cr and a paid-up capital of ₹8.09 Cr. It was formerly known as Polyset Plast Private Limited and Polyset Plast Limited. It is led by directors including Bhupesh Premraj Bafna (Managing Director) and Anjuu Shailesh Baafna.

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 Unit Nos. 901 – 906 9th Floor Cello Triumph I. B. Patel Road Goregaon (East), Mumbai, Maharashtra, India – 400063.

As per the financials filed for FY 2025, the company reported a revenue of ₹144.74 Cr, a growth of 19% compared to the previous year. For the same year it recorded a net profit of ₹13.06 Cr (net margin 9%) and EBITDA of ₹23.45 Cr (EBITDA margin 16.2%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 7% over five years.

The company has about 595 employees on its provident fund (EPFO) records.

As per MCA filings, the company has open charges of ₹35.5 Cr and satisfied charges of ₹81.37 Cr on record. Court records list 54 cases involving the company, including 38 filed by the company and 14 filed against it; 17 cases are pending.

Polyset Plastics Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0003551). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website polyset.net.

Company Details of Polyset Plastics Private Limited
CIN U25209MH1973PTC016846
Registration Number 016846
Incorporation Date 15 September 1973
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0003551

Name History of Polyset Plastics Private Limited

Polyset Plastics has undergone 2 name changes throughout its history. The company was previously known as Polyset Plast Private Limited, and Polyset Plast Limited. The current legal name is Polyset Plastics Private Limited.

Company NameStatus
Polyset Plastics Private LimitedCurrent
Polyset Plast Private LimitedPrevious
Polyset Plast LimitedPrevious
Key People
Bhupesh Premraj Bafna Managing Director Anjuu Shailesh Baafna Director Priti Bhupesh Bafna Additional Director

Recognitions & Rankings of Polyset Plastics

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-MH-19-0003551
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    polyset.net
  • Social Media
  • Registered Address
    Unit Nos. 901 – 906 9th Floor Cello Triumph I. B. Patel Road Goregaon (East), Mumbai, Maharashtra, India – 400063
  • Industry
    Manufacturing, Plastic-Based Products
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Financials, compliance, directors, charges, ownership and filings for Polyset Plastics Private Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Business Activity of Polyset Plastics Private Limited

The main business activity of Polyset Plastics is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC8Plastic products, non-metallic mineral products, rubber products, fabricated metal productsLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
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Financials of Polyset Plastics Private Limited FY 2025 filings available

Polyset Plastics Private Limited reported revenue of ₹144.74 Cr (up 19% YoY) for FY 2025.

Revenue · FY 2025
₹144.74 Cr ▲ 19%
Net profit · FY 2025
₹13.06 Cr margin 9%
EBITDA · FY 2025
₹23.45 Cr margin 16.2%

Compounded Annual Growth Rate (CAGR) of Polyset Plastics Private Limited

Revenue CAGR growth
1 year
▲ 19%
3 years · compounded
▲ 7%
5 years · compounded
▲ 7%
EBITDA CAGR growth
1 year
▲ 224%
3 years · compounded
▲ 41%
5 years · compounded
▲ 10%

Revenue has grown at a compounded annual rate (CAGR) of 7% over five years, including 19% growth in the latest year. EBITDA rose 224% 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 Polyset Plastics Private Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
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₹23.45 Cr••••••••••••••••
Profit Before Tax••••••••••••••••••••
Tax Expense••••••••••••••••••••
Net Profit (PAT)₹13.06 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 Polyset Plastics Private Limited

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin16.2%••••••••••••••••
Net Profit Margin9%••••••••••••••••
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 Polyset Plastics are in the company report.

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Financial statements from 2015

Earlier years and trend charts are in the company report.

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Board of Directors of Polyset Plastics Private Limited

Polyset Plastics has 3 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Bhupesh Premraj Bafna
Also directs: Sugee Polyset Private Limited, Bic Cello (India) Private Limited, Shalimar Infotech Private Limited and 1 more
Managing Director01 Nov 199728 Years 11 MonthsCurrent
Anjuu Shailesh Baafna
Also directs: Mehul Finance and Investments Private Limited
Director01 Mar 20179 Years 7 MonthsCurrent
Priti Bhupesh BafnaAdditional Director03 May 20251 Years 5 MonthsCurrent
View all directors

Peer Comparison of Polyset Plastics Private Limited

Polyset Plastics Private Limited is compared with the companies closest to it by revenue in the Manufacturing industry (Plastic Based Products). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Indopet Polymer Private Limited₹148.52 Cr (FY 2025)••••••••70.0%••••Kolkata, West Bengal, India
Abhijeet Plastics (India) Private Limited₹147.75 Cr (FY 2025)••••••••24.0%••••Vasai, Maharashtra, India
Shalimar Extrusion Private Limited₹145.66 Cr (FY 2025)••••••••62.0%••••Mumbai, Maharashtra, India
Sperene Compounding Private Limited₹145.17 Cr (FY 2025)••••••••-2.0%••••New Delhi, Delhi, India
Arun Plasto Moulders (India) Private Limited₹145.14 Cr (FY 2025)••••••••13.0%••••Tamil Nadu, India
Polyset Plastics Private Limited this company₹144.74 Cr (FY 2025)••••••••19.0%••••Mumbai, Maharashtra, India
Sea Linkers Private Limited₹144.7 Cr (FY 2025)••••••••8.0%••••Mumbai, Maharashtra, India
Vardhaman Plastochem Private Limited₹144.04 Cr (FY 2025)••••••••3.0%••••Mumbai, Maharashtra, India
Swashthik Plascon Limited₹143.8 Cr (FY 2025)••••••••7.0%••••Puducherry, India
Skaps Advanced Composites Private Limited₹143.28 Cr (FY 2025)••••••••-7.0%••••Mundra, Gujarat, India
Aadi Plastic Industries Private Limited₹143.14 Cr (FY 2025)••••••••11.0%••••Kolhapur, Maharashtra, India

Peers are the five companies nearest above and the five nearest below Polyset Plastics by revenue in the Manufacturing industry (Plastic Based Products), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Auditor Details of Polyset Plastics Private Limited

Polyset Plastics Private Limited is audited by S M M P & Company for the financial year 2023.

NameStatusAppointment DateCessation Date
S M M P & CompanyLockedLockedLocked
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Ownership and Shareholding of Polyset Plastics Private Limited

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Promoter, institutional, public and beneficial ownership figures are in the company report.

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Charges & Borrowings of Polyset Plastics Private Limited

Open charges
₹35.5 Cr
Satisfied charges
₹81.37 Cr
Breakdown by lending institutions
Yes Bank Limited₹25.00 Cr
Others₹10.50 Cr
Latest charge details
DateLenderAmountStatus
30 Jan 2025Others₹50 LakhOpen
30 Nov 2018Others₹10 CrOpen
30 Mar 2015Yes Bank Limited₹25 CrOpen
17 Jan 2018Yes Bank Limited₹3 CrSatisfied
24 Jan 2017Yes Bank Limited₹3 CrSatisfied

Total charge records: 38 View all charges

MSME Payment Delays by Polyset Plastics Private Limited

Polyset Plastics Private Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 698 overdue payments to 48 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 (5 of 48)

SupplierAmount dueDue sinceReported on
an individual supplier••••••••••••
an individual supplier••••••••••••
an individual supplier••••••••••••
an individual supplier••••••••••••
Shobh Engineering Moulds••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 13 MSME Form 1 returns is in the company report.

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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Employees and EPFO Compliance at Polyset Plastics Private Limited

Polyset Plastics Private Limited has a workforce of 595 employees as of Mar 28, 2024.

Employee count
595
Active EPFO establishments
2
Employee growth
-4.34%
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Employee and EPFO history

Monthly headcount, contribution history and filing status are in the company report.

  • Monthly headcount
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Recent Activity on Polyset Plastics Private Limited

Polyset Plastics Private Limited has 10 board changes on record since 1997: 3 appointments and 7 cessations. The latest: Priti Bhupesh Bafna was appointed as Additional Director on 03 May 2025.

Charges
A charge registered on 28 Jul 1994 via Charge ID 90162977 with The Industrial Credit And Investment Corportion Of India Lim was fully satisfied on 06 Oct 2025.
AGM
Polyset Plastics Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge registered on 27 Sep 1995 via Charge ID 90163229 with Sicom Limited was fully satisfied on 15 May 2025.
Charges
A charge registered on 22 Dec 1988 via Charge ID 90162216 with Sicom Limited was fully satisfied on 15 May 2025.
Charges
A charge registered on 03 Mar 1987 via Charge ID 90162032 with The State Industrial And Investment Corportion Of Maharash was fully satisfied on 15 May 2025.
Appointed
Priti Bhupesh Bafna was appointed as Additional Director.
Filing
Polyset Plastics Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge with Others amounted to Rs. 0.50 Cr with Charge ID 101050089 was registered on 30 Jan 2025.
Charges
A charge with Yes Bank Limited of Rs. 25.00 Cr registered on 30 Mar 2015 with Charge ID 10569684 was modified on 04 Oct 2023.
Charges
A charge registered on 17 Jan 2018 via Charge ID 100153689 with Yes Bank Limited was fully satisfied on 20 Sep 2023.
Charges
A charge registered on 24 Jan 2017 via Charge ID 100078176 with Yes Bank Limited was fully satisfied on 20 Sep 2023.
Ceased
Premraj Futarmal Bafna ceased to be Whole-Time Director.

89 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Polyset Plastics Private Limited

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Credit ratings, litigation, and regulatory alerts

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Subsidiaries & Group Companies of Polyset Plastics Private Limited

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Corporate group structure

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GST Compliance of Polyset Plastics Private Limited

Polyset Plastics has 9 GST registrations: 4 active and 5 cancelled or inactive.

Total GSTINs
9
Active
4
Cancelled / inactive
5
GSTINStateStatusRegistered on
27AAACP7373E1ZDMaharashtraActive01 Jul 2017
27AAACP7373E2ZCMaharashtraActive21 Jul 2017
27AAACP7373E3ZBMaharashtraActive21 Feb 2018
26AAACP7373E1ZFDaman & DiuActive01 Aug 2020
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GST registrations and filing compliance

State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.

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MCA Filings & Documents of Polyset Plastics Private Limited

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MCA filings and documents

Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.

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Frequently Asked Questions about Polyset Plastics Private Limited

Polyset Plastics is an active private limited company based in Mumbai, Maharashtra, India. The company works in plastic-based products, within the manufacturing industry. It was incorporated on 15 September 1973 (53+ years old) and is registered under CIN U25209MH1973PTC016846.

Polyset Plastics reported revenue of ₹144.74 Cr for FY 2025 (up 19% YoY).

Polyset Plastics has 3 current directors:

Polyset Plastics reported a net profit of ₹13.06 Cr (net margin 9%) and EBITDA of ₹23.45 Cr (EBITDA margin 16.2%) for FY 2025, as per its filed financial statements.

The compounded annual growth rate (CAGR) of the revenue of Polyset Plastics is 7% over three years and 7% over five years. In the latest year (FY 2025) revenue rose 19%. CAGR is the steady yearly rate that links the first and the last year.

The GSTIN of Polyset Plastics is 27AAACP7373E1ZD, registered in Maharashtra. The company has 9 GST registrations in all, of which 4 are active and 5 are cancelled or inactive. Other active GSTINs include 27AAACP7373E2ZC (Maharashtra), 27AAACP7373E3ZB (Maharashtra), 26AAACP7373E1ZF (Daman & Diu).

The CIN (Corporate Identification Number) of Polyset Plastics is U25209MH1973PTC016846. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Polyset Plastics has 54 court cases on record: 38 filed by the company and 14 filed against it. 17 are pending. Most are in the district courts.

Polyset Plastics was incorporated on 15 September 1973, making it 53+ years old. It is registered with the Registrar of Companies, Mumbai.

The peers of Polyset Plastics by revenue are Indopet Polymer Private Limited, Abhijeet Plastics (India) Private Limited, Shalimar Extrusion Private Limited, Sperene Compounding Private Limited, Arun Plasto Moulders (India) Private Limited and 5 more, all in the Manufacturing industry (Plastic Based Products).

Priti Bhupesh Bafna was appointed as Additional Director on 03 May 2025. Premraj Futarmal Bafna ceased to be Whole-Time Director on 27 Jun 2019. Tolaram Hiranand Devnani ceased to be Director on 30 Aug 2018. Polyset Plastics has 10 board changes on record in total.

Yes, Polyset Plastics is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0003551).

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