About Progressive Surface Systems Private Limited
Data last updated:
Progressive Surface Systems Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 10 July 2002 and has been in existence for over 24 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24229MH2002PTC136469. Its GSTIN is 27AACCP9075D1ZA (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹45 Lakh and a paid-up capital of ₹36.2 Lakh. It was formerly known as Progressive Electroplating Chemicals Private Limited. It is led by directors including Riya Malav Shah and Malav Kumar Shah.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 3 B Udyog Nagars Vrd Goregaon(W), Mumbai, Maharashtra, India – 400062.
As per the financials filed for FY 2024, the company reported a revenue of ₹30.57 Cr, a growth of 1% compared to the previous year. For the same year it recorded a net profit of ₹1.88 Cr (net margin 6.1%) and EBITDA of ₹3.06 Cr (EBITDA margin 10%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 1% over five years.
The company has about 76 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹4.12 Cr and satisfied charges of ₹1.2 Cr on record. Court records list 4 cases involving the company, including 3 filed by the company and 1 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 progressivesurfacesystems.com.
- EmailLocked
- TelephoneLocked
- Social MediaLocked
- Registered Address3 B Udyog Nagars Vrd Goregaon(W), Mumbai, Maharashtra, India – 400062
- IndustryMachinery and Equipment, Industrial Machinery 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 Progressive Surface Systems Private Limited
The main business activity of Progressive Surface Systems is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | 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 Progressive Surface Systems Private Limited FY 2024 filings available
Progressive Surface Systems Private Limited reported revenue of ₹30.57 Cr (up 1% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Progressive Surface Systems Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 1% over five years, including 1% growth in the latest year. EBITDA rose 16% 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 Progressive Surface Systems 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 | ₹3.06 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹1.88 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 Progressive Surface Systems Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 10% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 6.1% | •••• | •••• | •••• | •••• |
| 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 Progressive Surface Systems 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 Progressive Surface Systems Private Limited
Progressive Surface Systems Private Limited is compared with the companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Holm-Kk Extrusion Pvt Ltd | ₹30.63 Cr (FY 2025) | •••• | •••• | 26.0% | •••• | Mumbai, Maharashtra, India |
| Bijur Delimon India Private Limited | ₹30.63 Cr (FY 2025) | •••• | •••• | 54.0% | •••• | Khed, Maharashtra, India |
| Gallant Power Conversion Private Limited | ₹30.62 Cr (FY 2025) | •••• | •••• | 49.0% | •••• | Bangalore, Karnataka, India |
| Raja Bahadur International Limited Listed | ₹30.61 Cr (FY 2025) | •••• | •••• | 33.0% | •••• | Mumbai, Maharashtra, India |
| Imagenous Engineering Private Limited | ₹30.58 Cr (FY 2025) | •••• | •••• | 37.0% | •••• | Kolkata, West Bengal, India |
| Progressive Surface Systems Private Limited this company | ₹30.57 Cr (FY 2024) | •••• | •••• | 1.0% | •••• | Mumbai, Maharashtra, India |
| Bagherwal Electrodes Pvt Ltd | ₹30.54 Cr (FY 2016) | •••• | •••• | 79.0% | •••• | Indore, Madhya Pradesh, India |
| Blue Bell Plast Private Limited | ₹30.53 Cr (FY 2024) | •••• | •••• | 24.0% | •••• | Ahmedabad, Gujarat, India |
| Spantech Engineers Private Limited | ₹30.52 Cr (FY 2024) | •••• | •••• | 40.0% | •••• | Navi Mumbai, Maharashtra, India |
| Universal Industrial Plants Mfg.Co. Private Limited | ₹30.49 Cr (FY 2024) | •••• | •••• | 251.0% | •••• | New Delhi, Delhi, India |
| Rack N Space Storage Solutions Private Limited | ₹30.48 Cr (FY 2024) | •••• | •••• | 86.0% | •••• | Baramati, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Progressive Surface Systems by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), 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 Progressive Surface Systems Private Limited
Progressive Surface Systems Private Limited is audited by APMH & Associates LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| APMH & Associates LLP | 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 Progressive Surface Systems Private Limited
Progressive Surface Systems 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 |
|---|---|---|---|---|
| Riya Malav Shah Also directs: Meraki Sisters LLP | Director | 29 Jan 2021 | 5 Years 8 Months | Current |
| Malav Kumar Shah | Director | 10 Jul 2002 | 24 Years 3 Months | Current |
| Nikita Malav Shah Also directs: Meraki Sisters LLP, Progressive Pictures LLP | Director | 29 Jan 2021 | 5 Years 8 Months | Current |
Ownership and Shareholding of Progressive Surface Systems 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 Progressive Surface Systems Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 17 Mar 2025 | Others | ₹12 Lakh | Open |
| 10 Jan 2006 | Others | ₹4 Cr | Open |
| 26 Jun 2020 | Others | ₹75 Lakh | Satisfied |
| 26 Jun 2020 | Others | ₹45 Lakh | Satisfied |
Total charge records: 4 View all charges
Legal Cases of Progressive Surface Systems Private Limited
Progressive Surface Systems Private Limited has 4 court cases on record: 3 filed by Progressive Surface Systems, 1 filed against it. All cases are disposed. Status as checked between 30 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 1 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed by the company against Everbite Chemicals | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against an individual | Disposed |
| District court, Ludhiana, Punjab | Civil suit | Filed against the company by Everbrite Chemicals | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against Everbite Chemicals | Disposed |
Full case history
All 4 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.
Employees and EPFO Compliance at Progressive Surface Systems Private Limited
Progressive Surface Systems Private Limited has a workforce of 76 employees as of Mar 22, 2024.
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.
Recent Activity on Progressive Surface Systems Private Limited
Progressive Surface Systems Private Limited has 8 board changes on record since 2002: 3 appointments and 5 cessations. The latest: Hasumati Kumar Shah ceased to be Director on 24 May 2022.
6 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Progressive Surface Systems 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.
MSME Payment Delays by Progressive Surface Systems Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Progressive Surface Systems 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 Progressive Surface Systems Private Limited
Progressive Surface Systems has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCP9075D1ZA | 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 Progressive Surface Systems 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 Progressive Surface Systems Private Limited
Progressive Surface Systems is an active private limited company based in Mumbai, Maharashtra, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 10 July 2002 (24+ years old) and is registered under CIN U24229MH2002PTC136469.
Progressive Surface Systems reported revenue of ₹30.57 Cr for FY 2024 (up 1% YoY).
Progressive Surface Systems has 3 current directors:
- Riya Malav Shah - Director
- Malav Kumar Shah - Director
- Nikita Malav Shah - Director
Progressive Surface Systems reported a net profit of ₹1.88 Cr (net margin 6.1%) and EBITDA of ₹3.06 Cr (EBITDA margin 10%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Progressive Surface Systems is 11% over three years and 1% over five years. In the latest year (FY 2024) revenue rose 1%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Progressive Surface Systems is 27AACCP9075D1ZA, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Progressive Surface Systems is U24229MH2002PTC136469. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Surface Systems has 4 court cases on record: 3 filed by the company and 1 filed against it.
Progressive Surface Systems was incorporated on 10 July 2002, making it 24+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Progressive Surface Systems by revenue are Holm-Kk Extrusion Pvt Ltd, Bijur Delimon India Private Limited, Gallant Power Conversion Private Limited, Raja Bahadur International Limited, Imagenous Engineering Private Limited and 5 more, all in the Machinery and Equipment industry (Industrial Products Manufacturers).
Hasumati Kumar Shah ceased to be Director on 24 May 2022. Nikita Malav Shah ceased to be Additional Director on 30 Nov 2021. Palak Malav Shah ceased to be Additional Director on 30 Nov 2021. Progressive Surface Systems has 8 board changes on record in total.