Progressive Services Ltd
About Progressive Services Ltd
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Progressive Services Ltd is a public limited company based in Kolkata, West Bengal, India. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 18 August 1983 and has been in existence for over 43 years.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U51909WB1983PLC047820. Its GSTIN is 19AABCP6237G1ZC (West Bengal).
The company has an authorised share capital of ₹2.28 Cr and a paid-up capital of ₹1.99 Cr. It is led by directors including Ashok Kumar Jain (Managing Director) and Hari Lal Mullick.
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 53C Mirza Ghalib Street, Kolkata, West Bengal, India – 700016.
As per the financials filed for FY 2022, the company reported a revenue of ₹28.53 Lakh, a decline of 30% compared to the previous year. For the same year it recorded a net loss of ₹31,543 (net margin -1.1%) and EBITDA of -₹18.46 Lakh (EBITDA margin -64.7%). Revenue has declined at a compounded annual rate (CAGR) of 19% over three years and 8% over five years.
As per MCA filings, the company has open charges of ₹5 Lakh and satisfied charges of ₹10 Lakh on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Progressive Services Ltd's registered office is in Kolkata, West Bengal. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered Address53C Mirza Ghalib Street, Kolkata, West Bengal, India – 700016
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of Progressive Services Ltd, 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
Financials of Progressive Services Ltd
FY 2025 filings availableProgressive Services Ltd reported revenue of ₹28.53 Lakh (down 30% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 8% over five years, including a 30% fall 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹28.53 Lakh | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹18.46 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹31,543 | ||||
| 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
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -64.7% | ||||
| Net Profit Margin | -1.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| 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 Progressive Services Ltd, buy the company report.
Board of directors of Progressive Services Ltd
Progressive Services has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashok Kumar Jain Also directs: Euphoria Secret Garden LLP, Swastika Couture LLP, Euphoria Greens Projects LLP and 5 more | Managing Director | 21 Jan 1986 | 40 Years 9 Months | Current |
| Hari Lal Mullick Also directs: Dudhoria Construction Co Ltd, Rowland Towers Private Limited | Director | 01 Dec 2004 | 21 Years 10 Months | Current |
| Rishabh Jain | Additional Director | 10 Feb 2026 | 0 Years 8 Months | Current |
Auditor
Progressive Services Ltd is audited by VASUDEO & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VASUDEO & ASSOCIATES | FY 2022 | 319299E |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 02 Aug 2021 | 100497401 | Hdfc Bank Limited | ₹5 Lakh | Open | |
| 19 May 2023 | 100726536 | Others | ₹10 Lakh | Satisfied |
To see the full charge records of Progressive Services Ltd, buy the company report.
Total charge records: 2 View all charges
Legal cases
Progressive Services Ltd has 4 court cases on record: 1 filed by Progressive Services, 3 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 2 | 0 |
| NCLT | 1 | 1 | 0 |
Cases on record (3 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Kolkata | Insolvency matter | Filed against the company by Trans Concrete Pvt Ltd | Disposed |
| High Court | Court case (EC) | Filed against the company by Kanoi Plantations Private Ltd. | Disposed |
| High Court | Company petition | Filed by the company against Blitay & Company Pvt. Ltd | Disposed |
To see the full case history of Progressive Services Ltd, 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 Services Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Progressive Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AABCP6237G1ZC | West Bengal | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progressive Services Ltd, buy the company report.
Recent activity
Progressive Services Ltd has 9 board changes on record since 1986: 4 appointments and 5 cessations. The latest: Rishabh Jain was appointed as Additional Director on 10 Feb 2026.
3 earlier events are in the company report.
Frequently asked questions
Progressive Services is an active public limited company based in Kolkata, West Bengal, India. The company works in nbfc, within the financial services industry. It was incorporated on 18 August 1983 (43+ years old) and is registered under CIN U51909WB1983PLC047820.
Progressive Services has 3 current directors:
- Ashok Kumar Jain - Managing Director
- Hari Lal Mullick - Director
- Rishabh Jain - Additional Director
The latest financial statements of Progressive Services 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 Services is 19AABCP6237G1ZC, registered in West Bengal.
The CIN (Corporate Identification Number) of Progressive Services is U51909WB1983PLC047820. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Services has 4 court cases on record: 1 filed by the company and 3 filed against it. Most are in the high courts.
Progressive Services was incorporated on 18 August 1983, making it 43+ years old. It is registered with the Registrar of Companies, Kolkata.
Rishabh Jain was appointed as Additional Director on 10 Feb 2026. Mahua Chatterjee ceased to be Director on 26 Nov 2018. Sanjay Atha ceased to be Additional Director on 29 Sep 2015. Progressive Services has 9 board changes on record in total.
The registered office of Progressive Services is at 53C Mirza Ghalib Street, Kolkata, West Bengal, India – 700016.
Progressive Services operates in the financial services industry, in the nbfc segment.