MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2023-24)
- Udyam number
- UDYAM-TS-09-0021220
Progressive Wires Pvt Ltd
Progressive Wires Pvt Ltd - manufacturing in Hyderabad, Telangana, India. FY 2026 financials & compliance.
Revenue · FY 2022
₹58.78 Lakh
▼ 60% YoY
Net loss · FY 2022
₹4.91 Lakh
Net margin -8.3%
EBITDA · FY 2022
₹5.26 Lakh
EBITDA margin 9%
Authorised capital
₹50 Lakh
Registered with MCA
Paid-up capital
₹50 Lakh
Issued & subscribed
Open charges
₹4.09 Cr
Satisfied ₹4.17 Cr
Company age
33 yrs
Est. 1993
Directors on board
3
As per MCA filings
About Progressive Wires Pvt Ltd
Data last updated:
Progressive Wires Pvt Ltd is a private limited company based in Hyderabad, Telangana, India. It operates in the cable and wire segment of the manufacturing sector. It was incorporated on 18 November 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN U31300TG1993PTC016585. Its GSTIN is 36AABCP4261G1ZK (Telangana). The company holds 2 GST registrations, of which 1 is 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 Naga Sairam Kowtha (Managing Director) and Kowtha Abhishikt.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at 67 Prasanthnagar Saktipuram Ida Kukatpally, Hyderabad, Telangana, India – 500037.
As per the financials filed for FY 2022, the company reported a revenue of ₹58.78 Lakh, a decline of 60% compared to the previous year. For the same year it recorded a net loss of ₹4.91 Lakh (net margin -8.3%) and EBITDA of ₹5.26 Lakh (EBITDA margin 9%).
As per MCA filings, the company has open charges of ₹4.09 Cr and satisfied charges of ₹4.17 Cr on record. Court records list 13 cases involving the company, including 13 filed against it; 4 cases are pending.
Progressive Wires Pvt Ltd is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-TS-09-0021220). The current compliance status is marked as active non-compliant by the Registrar of Companies.
Company details
CIN U31300TG1993PTC016585
Registration Number 016585
Incorporation Date 18 November 1993
ROC Hyderabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2022
Date of Balance Sheet 31 March 2022
Compliance Status Active Non-Compliant
MSME Classification Micro
Udyam Registration UDYAM-TS-09-0021220
CIN history
Progressive Wires has one previous CIN (Corporate Identification Number): U31300AP1993PTC016585. The current CIN is U31300TG1993PTC016585, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U31300TG1993PTC016585 | Current |
| U31300AP1993PTC016585 | Previous |
Recognitions & Rankings of Progressive Wires
Contact details
Progressive Wires Pvt Ltd's registered office is in Hyderabad, Telangana. Its e-mail address is in the company report.
- Email
- Registered Address67 Prasanthnagar Saktipuram Ida Kukatpally, Hyderabad, Telangana, India – 500037
- IndustryManufacturing, Cable & Wire
To see the full contact details of Progressive Wires Pvt Ltd, buy the company report.
Comprehensive company report
Progressive Wires Pvt Ltd - one report that includes everything
- 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
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Business activity
The main business activity of Progressive Wires is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Progressive Wires Pvt Ltd, buy the company report.
Financials of Progressive Wires Pvt Ltd
FY 2022 filings availableProgressive Wires Pvt Ltd reported revenue of ₹58.78 Lakh (down 60% YoY) for FY 2022.
Revenue · FY 2022
₹58.78 Lakh ▼ 60%
Net loss · FY 2022
₹4.91 Lakh margin -8.3%
EBITDA · FY 2022
₹5.26 Lakh margin 9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 60%
EBITDA CAGR growth
1 year
▼ 57%
Revenue fell 60% in the latest year. EBITDA fell 57% in the latest 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 | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹5.26 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹4.91 Lakh | ||||
| 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 | 9% | ||||
| Net Profit Margin | -8.3% | ||||
| 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 | |||||
To see the full financial statements and ratios of Progressive Wires Pvt Ltd, buy the company report.
Board of directors of Progressive Wires Pvt Ltd
Progressive Wires has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kowtha Abhishikt | Director | 03 May 2013 | 13 Years 5 Months | Current |
| Naga Sairam Kowtha | Managing Director | 18 Nov 1993 | 32 Years 11 Months | Current |
| Nikhil Kowtha | Director | 15 Jul 2015 | 11 Years 3 Months | Current |
Auditor
Progressive Wires Pvt Ltd is audited by KARUMANCHI & ASSOCIATES for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KARUMANCHI & ASSOCIATES | FY 2016 | 001753S |
Shareholding
The shareholding of Progressive Wires Pvt Ltd is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Progressive Wires Pvt Ltd, buy the company report.
Charges & borrowings
Open charges
₹4.09 Cr
Satisfied charges
₹4.17 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Oct 2018 | 100237108 | Others | ₹32 Lakh | Open | |
| 31 Jan 2018 | 100174933 | Others | ₹21.2 Lakh | Open | |
| 31 Jan 2018 | 100175058 | Others | ₹11.3 Lakh | Open | |
| 28 Dec 2015 | 10615664 | Syndicate Bank | ₹3.05 Cr | Open | |
| 29 Dec 2001 | 90116150 | Stat Bank of Hyderabad | ₹40 Lakh | Open |
To see the full charge records of Progressive Wires Pvt Ltd, buy the company report.
Total charge records: 9 View all charges
Legal cases
Progressive Wires Pvt Ltd has 13 court cases on record: 13 filed against it. 4 cases are pending and 9 are disposed.
Total cases
13
Filed against the company
13
Pending
4
Disposed
9
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 13 | 13 | 4 |
Cases on record (5 of 13)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Magma Fincorp Limited | Pending |
| District court, Hyderabad Central, Telangana | Court case (CC - NI) | Filed against the company by M/S. Bajaj Finance Limited Through Its Authorised Rep. Sri M. Aravind | Disposed |
| District court, Medchal Malkajgiri, Telangana | Execution petition | Filed against the company by M/S. Magma Fincorp Limited. Rep. by Sri Ajay Kumar Punna | Disposed |
| District court, Hyderabad Central, Telangana | Criminal complaint | Filed against the company by M/S. Bajaj Finance Limited Through Its Authorised Rep. Sri M. Aravind | Disposed |
| District court, Hyderabad CCC, Telangana | Criminal complaint | Filed against the company by M/S Tata Capital Financial Services Ltd., Rep.By A. Ashwaini Kumar | Disposed |
To see the full case history of Progressive Wires Pvt 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 Wires Pvt Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Progressive Wires has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AABCP4261G1ZK | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progressive Wires Pvt Ltd, buy the company report.
Recent activity
Progressive Wires Pvt Ltd has 8 board changes on record since 1993: 3 appointments and 5 cessations. The latest: Nikhil Kowtha ceased to be Additional Director on 30 Sep 2015.
AGM
Progressive Wires Pvt Ltd last Annual general meeting of members was held on 30 Sep 2022 as per latest MCA records.
Filing
Progressive Wires Pvt Ltd has filed its annual Financial statements for the year ended 31 Mar 2022 with Roc Hyderabad.
Charges
A charge registered on 31 Jan 2018 via Charge ID 100174918 with Others was fully satisfied on 16 Nov 2018.
Charges
A charge with Others amounted to Rs. 32.00 Lakh with Charge ID 100237108 was registered on 15 Oct 2018.
Charges
A charge with Others amounted to Rs. 21.20 Lakh with Charge ID 100174933 was registered on 31 Jan 2018.
Charges
A charge with Others amounted to Rs. 11.30 Lakh with Charge ID 100175058 was registered on 31 Jan 2018.
Charges
A charge with Others amounted to Rs. 41.68 Lakh with Charge ID 100174918 was registered on 31 Jan 2018.
Charges
A charge registered on 27 Aug 2014 via Charge ID 10520944 with Karur Vysya Bank was fully satisfied on 31 Dec 2015.
Charges
A charge with Syndicate Bank amounted to Rs. 305.00 Lakh with Charge ID 10615664 was registered on 28 Dec 2015.
Ceased
Nikhil Kowtha ceased to be Additional Director.
Appointed
Nikhil Kowtha was appointed as Director.
Charges
A charge registered on 22 May 2015 via Charge ID 10570901 with Hdfc Bank Limited was fully satisfied on 07 Jul 2015.
14 earlier events are in the company report.
Frequently asked questions
Progressive Wires is an active private limited company based in Hyderabad, Telangana, India. The company works in cable and wire, within the manufacturing industry. It was incorporated on 18 November 1993 (33+ years old) and is registered under CIN U31300TG1993PTC016585.
Progressive Wires has 3 current directors:
- Naga Sairam Kowtha - Managing Director
- Kowtha Abhishikt - Director
- Nikhil Kowtha - Director
The latest financial statements of Progressive Wires on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of Progressive Wires is 36AABCP4261G1ZK, registered in Telangana. 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 Wires is U31300TG1993PTC016585. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Wires has 13 court cases on record: 13 filed against it. 4 are pending.
Progressive Wires was incorporated on 18 November 1993, making it 33+ years old. It is registered with the Registrar of Companies, Hyderabad.
Nikhil Kowtha ceased to be Additional Director on 30 Sep 2015. Nikhil Kowtha was appointed as Director on 15 Jul 2015. Kowtha Rohini Krishna ceased to be Additional Director on 01 Mar 2014. Progressive Wires has 8 board changes on record in total.
Yes, Progressive Wires is registered as a micro enterprise under Udyam registration (number: UDYAM-TS-09-0021220).
The registered office of Progressive Wires is at 67 Prasanthnagar Saktipuram Ida Kukatpally, Hyderabad, Telangana, India – 500037.
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