Progressive Motors Private Limited
About Progressive Motors Private Limited
Data last updated:
Progressive Motors Private Limited is a private limited company based in Rajkot, Gujarat, India. It operates in the automobile dealership and trading segment of the automotive sector. It was incorporated on 10 August 1999 and has been in existence for over 27 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U35914GJ1999PTC036405. Its GSTIN is 24AABCP7549K1Z3 (Gujarat).
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹35 Lakh. It is led by directors Hetalben Kalpeshbhai Kothari and Kalpesh Naranbhai Kothari.
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 Jimmy Park GF Shop No 12 To 15 Jakatnaka Street Gondal Road, Rajkot, Gujarat, India – 360004.
As per the financials filed for FY 2025, the company reported a revenue of ₹46.22 Cr, a decline of 15% compared to the previous year. For the same year it recorded a net profit of ₹33.4 Lakh (net margin 0.7%) and EBITDA of ₹1.69 Cr (EBITDA margin 3.7%). Revenue has grown at a compounded annual rate (CAGR) of 1% over three years.
The company is associated with 1 brand: Progressive Insurance. As per MCA filings, the company has open charges of ₹8.99 Cr and satisfied charges of ₹6.25 Cr on record. Court records list 10 cases involving the company, including 4 filed by the company and 6 filed against it; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Progressive Motors Private Limited's registered office is in Rajkot, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressJimmy Park GF Shop No 12 To 15 Jakatnaka Street Gondal Road, Rajkot, Gujarat, India – 360004
- IndustryAutomotive, Auto Dealership & Trading
To see the full contact details of Progressive Motors 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
Brands
Progressive Motors operates one associated brand: Progressive Insurance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Auto, home, life, health, and business insurance is provided online. | progressive.com |
Business activity
The main business activities of Progressive Motors are trade and support service to organizations. In detail, this covers retail trading 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 |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading | |
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Progressive Motors Private Limited, buy the company report.
Financials of Progressive Motors Private Limited
FY 2025 filings availableProgressive Motors Private Limited reported revenue of ₹46.22 Cr (down 15% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 15% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 1%. EBITDA rose 32% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹1.69 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹33.4 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3.7% | ||||
| Net Profit Margin | 0.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Progressive Motors Private Limited, buy the company report.
Board of directors of Progressive Motors Private Limited
Progressive Motors has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hetalben Kalpeshbhai Kothari Also directs: Bellevista Residency Private Limited | Director | 10 Aug 1999 | 27 Years 3 Months | Current |
| Kalpesh Naranbhai Kothari Also directs: Octave Geometries LLP | Director | 10 Aug 1999 | 27 Years 3 Months | Current |
Peer comparison
Progressive Motors Private Limited is compared with the 5 companies closest to it by revenue in the Automobiles industry (Auto and Components Dealers), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kamal Automotives Private Limited | ₹46.3 Cr (FY 2024) | -2.0% | Kota, Rajasthan, India | |||
| Powerwings Bikes Private Limited | ₹46.24 Cr (FY 2024) | 34.0% | Surat, Gujarat, India | |||
| Progressive Motors Private Limitedthis company | ₹46.22 Cr (FY 2025) | ₹33.4 Lakh | 0.7% | -15.0% | Rajkot, Gujarat, India | |
| VSN Automobiles Private Limited | ₹46.18 Cr (FY 2025) | -18.0% | Hyderabad, Telangana, India | |||
| Pushpa Automobiles Private Limited | ₹46.17 Cr (FY 2025) | 20.0% | Jaipur, Rajasthan, India | |||
| K G N Motors Private Limited | ₹46.14 Cr (FY 2016) | Pune, Maharashtra, India |
To see the full peer comparison of Progressive Motors Private Limited, buy the company report.
Auditor
Progressive Motors Private Limited is audited by SANGHAVI & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SANGHAVI & CO. | FY 2023 | 109099W |
Shareholding
The shareholding of Progressive Motors 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 2022 | FY 2021 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Progressive Motors Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Nov 2017 | 100140993 | State Bank of India | ₹4.69 Cr | Open | |
| 08 Oct 2012 | 10386648 | Citizens Co-Operative Bank Limited | ₹30 Lakh | Open | |
| 07 Feb 2009 | 10144364 | Others | ₹4 Cr | Open | |
| 21 Jun 2007 | 10058650 | The Hongkong and Shanghai Banking Corporation Ltd | ₹3.5 Cr | Satisfied | |
| 29 Mar 2006 | 10002909 | Standard Chartered Bank | ₹2.75 Cr | Satisfied |
To see the full charge records of Progressive Motors Private Limited, buy the company report.
Total charge records: 5 View all charges
Legal cases
Progressive Motors Private Limited has 10 court cases on record: 4 filed by Progressive Motors, 6 filed against it. 1 case is pending and 9 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 2 | 0 |
| Supreme Court | 3 | 2 | 1 |
| District courts | 2 | 2 | 0 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (0310-Direct Taxes Matter : Property Tax) | Filed against the company by Jamnagar Municipal Corporation Assistant Commissioner (Tax) Jamnagar Municipal Corporation, Jubili Garden, Lal Bungalow , District: . ,Jamnagar , Gujarat | Pending |
| Supreme Court | Court case (3802-Matters Relating To Consumer Protection : SLPs relating to Consumer Protection.) | Filed against the company by an individual | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Jamnagar Municipal Corporation Throu Municipal Commissioner and 1 other | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Jamnagar Municipal Corporation Through the Municipal Commissioner and 1 other | Disposed |
| District court, Patna, Bihar | Civil suit | Filed against the company by an individual | Disposed |
To see the full case history of Progressive Motors 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.
Credit ratings & regulatory alerts
Progressive Motors Private Limited was last rated by Care on 13 May 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 13 May 2021 |
To see the full credit ratings and regulatory alerts of Progressive Motors Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Progressive Motors Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Progressive Motors has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCP7549K1Z3 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progressive Motors Private Limited, buy the company report.
Recent activity
Progressive Motors Private Limited has 4 board changes on record since 1999: 3 appointments and 1 cessation. The latest: Narayandas Gangajibhai Kothari ceased to be Director on 05 Sep 2025.
6 earlier events are in the company report.
News
Frequently asked questions
Progressive Motors is an active private limited company based in Rajkot, Gujarat, India. The company works in auto dealership and trading, within the automotive industry. It was incorporated on 10 August 1999 (27+ years old) and is registered under CIN U35914GJ1999PTC036405.
Progressive Motors has 2 current directors:
- Hetalben Kalpeshbhai Kothari - Director
- Kalpesh Naranbhai Kothari - Director
The latest financial statements of Progressive Motors 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 Progressive Motors is 24AABCP7549K1Z3, registered in Gujarat.
The CIN (Corporate Identification Number) of Progressive Motors is U35914GJ1999PTC036405. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Motors has 10 court cases on record: 4 filed by the company and 6 filed against it. 1 is pending. Most are in the high courts.
Progressive Motors was incorporated on 10 August 1999, making it 27+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Progressive Motors by revenue are Kamal Automotives Private Limited, Powerwings Bikes Private Limited, VSN Automobiles Private Limited, Pushpa Automobiles Private Limited, K G N Motors Private Limited, all in the Automobiles industry (Auto and Components Dealers), with the same principal business activity (retail trading).
Narayandas Gangajibhai Kothari ceased to be Director on 05 Sep 2025. Hetalben Kalpeshbhai Kothari was appointed as Director on 10 Aug 1999. Kalpesh Naranbhai Kothari was appointed as Director on 10 Aug 1999. Progressive Motors has 4 board changes on record in total.
The registered office of Progressive Motors is at Jimmy Park GF Shop No 12 To 15 Jakatnaka Street Gondal Road, Rajkot, Gujarat, India – 360004.
Progressive Motors operates in the automotive industry, in the auto dealership and trading segment.
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