About Progressive Meters Private Limited
Data last updated:
Progressive Meters Private Limited is a private limited company based in Kolkata, West Bengal, 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 power equipment manufacturers segment of the energy and power sector. It was incorporated on 08 October 2013.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U33111WB2013PTC197828. Its GSTIN is 07AAHCP4036H1ZG (Delhi). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹50 Lakh. It is led by directors including Bela Rajgarhia and Rakesh Kumar Agarwal (Irp/Rp/Liquidator).
Its last annual general meeting (AGM) was held on 28 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Flat No. 2C 2nd Floor Urvashi Apartments 3 Hungerford Street, Kolkata, West Bengal, India – 700017.
As per the financials filed for FY 2019, the company reported a revenue of ₹3.34 Cr, a decline of 11% compared to the previous year. For the same year it recorded a net profit of ₹49.28 Lakh (net margin 14.7%) and EBITDA of ₹1.63 Cr (EBITDA margin 48.6%).
The company has about 12 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹5.5 Cr on record. Court records list 16 cases involving the company, including 3 filed by the company and 13 filed against it; 10 cases are pending. The company has 4 deals on record (3 funding rounds, 1 secondary share transfer), with disclosed funding of ₹70.5 Lakh; the latest was in June 2018.
The last known website on record is progressivemeters.com.
Company details
Contact details
Progressive Meters Private Limited's registered office is in Kolkata, West Bengal. Its website is progressivemeters.com. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressFlat No. 2C 2nd Floor Urvashi Apartments 3 Hungerford Street, Kolkata, West Bengal, India – 700017
- IndustryEnergy and Power, Power Equipment Manufacturers
To see the full contact details of Progressive Meters Private 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
Business activity
The main business activities of Progressive Meters are manufacturing and support service to organizations. In detail, this covers computer, electronic, communication and scientific measuring & control equipment and other support services to organizations. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Progressive Meters Private Limited, buy the company report.
Financials of Progressive Meters Private Limited
FY 2019 filings availableProgressive Meters Private Limited reported revenue of ₹3.34 Cr (down 11% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue fell 11% in the latest year. EBITDA rose 14% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹3.34 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.63 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹49.28 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 48.6% | ||||
| Net Profit Margin | 14.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Progressive Meters Private Limited, buy the company report.
Board of directors of Progressive Meters Private Limited
Progressive Meters has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kiran Devi Rajgarhia | Additional Director | 02 Dec 2019 | 6 Years 10 Months | As last reported |
| Bela Rajgarhia Also directs: Excel International Pvt. Ltd, P.R. Properties Pvt. Ltd., Vikas Projects Pvt Ltd and 1 more | Director | 27 May 2019 | 7 Years 4 Months | As last reported |
| Rakesh Kumar Agarwal Also directs: Prachi Management Services Private Limited | Irp/Rp/Liquidator | 23 Aug 2024 | 2 Years 1 Months | As last reported |
Auditor
Progressive Meters Private Limited is audited by S B DANDEKER & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S B DANDEKER & CO | FY 2019 | 301009E |
Shareholding
The shareholding of Progressive Meters Private Limited is on record for 4 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Progressive Meters Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Feb 2017 | 100095053 | Indian Overseas Bank | ₹5.5 Cr | Open |
To see the full charge records of Progressive Meters Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Progressive Meters Private Limited has 4 deals on record (3 funding rounds, 1 secondary share transfer), with disclosed funding of ₹70.5 Lakh; the latest was in June 2018.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2018 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Jul 2014 | Funding round | ₹6 Lakh | Investors: Shenzen Inhemeter Company Limited |
| Jun 2014 | Funding round | ₹55.5 Lakh | Investors: 2 individuals |
| Nov 2013 | Funding round | ₹9 Lakh | Investors: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Progressive Meters Private Limited has 16 court cases on record: 3 filed by Progressive Meters, 13 filed against it. 10 cases are pending and 6 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 16 | 13 | 10 |
Cases on record (5 of 16)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, New Delhi, Delhi | Execution petition | Filed against the company by Calzini Fashions Ltd | Disposed |
| District court, South, Delhi | Court case (RCA DJ) | Filed by the company against M/S J.S.B. Auto Pvt. Ltd. and Ans. | Disposed |
| District court, South, Delhi | Civil suit | Filed by the company against M/S Jai Auto Pvt. Ltd. and Ans. | Disposed |
| District court, Faridabad, Haryana | Court case (TRF) | Filed against the company by State of Haryana | Pending |
| District court, South West, Delhi | Cheque dishonour complaint | Filed against the company by an individual | Pending |
To see the full case history of Progressive Meters 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 Progressive Meters Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Progressive Meters has 1 subsidiary company. This group structure data is as of FY 2019. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Vikas Projects Pvt Ltd | U70101WB1982PTC035034 |
To see the full group structure of Progressive Meters Private Limited, buy the company report.
Employees & EPFO
Progressive Meters Private Limited has a workforce of 12 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
GST
Progressive Meters has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAHCP4036H1ZG | Delhi | Active | 01 Jul 2017 |
| 08AAHCP4036H1ZE | Rajasthan | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progressive Meters Private Limited, buy the company report.
Recent activity
Progressive Meters Private Limited has 6 board changes on record since 2019: 3 appointments and 3 cessations. The latest: Rakesh Kumar Agarwal was appointed as Irp/Rp/Liquidator on 23 Aug 2024.
Frequently asked questions
Progressive Meters 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.
Progressive Meters is a company under liquidation, formerly operating as a private limited company based in Kolkata, West Bengal, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 08 October 2013 and is registered under CIN U33111WB2013PTC197828. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Progressive Meters has 3 current directors:
- Kiran Devi Rajgarhia - Additional Director
- Bela Rajgarhia - Director
- Rakesh Kumar Agarwal - Irp/Rp/Liquidator
The latest financial statements of Progressive Meters on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 28 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Progressive Meters is U33111WB2013PTC197828. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Meters has open charges of ₹5.5 Cr and no satisfied charges on record as per latest MCA filings.
Progressive Meters has 16 court cases on record: 3 filed by the company and 13 filed against it. 10 are pending.
Progressive Meters was incorporated on 08 October 2013. It is registered with the Registrar of Companies, Kolkata.
Progressive Meters has 4 deals on record (3 funding rounds, 1 secondary share transfer), with disclosed funding of ₹70.5 Lakh; the latest was in June 2018.
Rakesh Kumar Agarwal was appointed as Irp/Rp/Liquidator on 23 Aug 2024. Aditya Rajgarhia ceased to be Director on 02 Dec 2019. Kiran Devi Rajgarhia was appointed as Additional Director on 02 Dec 2019. Progressive Meters has 6 board changes on record in total.