Fine-Line Circuits Limited - Due diligence report

A 360° intelligence report on Fine-Line Circuits Limited: trust score, financial health, credit view, compliance, directors, growth and dist…

1989-10-09 Mumbai, Maharashtra Active Listed Active Compliant
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Fine-Line Circuits Limited — 360° Intelligence Report

Generated from MCA filings & public records
86/100
Trust Score
Low Risk

Fine-Line Circuits Limited is assessed as Low Risk with a Trust Score of 86/100. Fine-Line Circuits Limited is an active public limited indian non-government company incorporated in 1989, operating in the Information Technology sector. Reported revenue has declined across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and low financial risk profile.

Report generated on 12 Aug 2026 from the latest processed filings. Fine-Line Circuits Limited snapshot & full profile →

Financial Health › Strong
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Strong

Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.

02

Score Card

Higher is safer · rule-based & explainable
Trust ScoreLow Risk
86/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
85/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
85/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
55/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreCaution Indicated
40/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
75/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 5 filed year(s)

Unlock the full 5-year financial dashboard with charts and year-wise figures.

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Scores and observations on this page are already computed from the real filings - only the underlying figures are locked.

04

Credit & Compliance Intelligence

Why the scores are what they are
Credit Risk Score: 55/100 Moderate
  • Liabilities ≈ 38% EBITDA - stretched.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Moderate gearing (D/E 1.42).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.

Charges position: 2 open (9.90 cr) · 6 satisfied (4.81 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others3 48.0 cr
The South Indian Bank Limited1 48.0 cr
Apna Sahakari Bank Ltd.1 48.0 cr
Sundaram Finance Ltd.3 48.0 cr
Compliance Score: 85/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 1 court forum(s).
  • Delayed payments to MSME suppliers disclosed (9 disclosure(s)).
  • 1 active GST registration(s).
Legal cases on record (1)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
ABHAY BHAGWANDAS DOSHI 01234567 Director 01/04/2018 6 yrs Approved
KUMUDINI KIRAN MEHTA 01234567 Director 01/04/2018 6 yrs Approved
MANSI GUPTA 01234567 Director 01/04/2018 6 yrs Approved
RAJIV BHAGWANDAS DOSHI 01234567 Director 01/04/2018 6 yrs Approved
MARYAM SHOJAEI BAGHINI 01234567 Director 01/04/2018 6 yrs Approved
UPENDRANATH NIMMAGADDA 01234567 Director 01/04/2018 6 yrs Approved
JAYESH KHIMJI RAMBHIA 01234567 Director 01/04/2018 6 yrs Approved
PREMA RADHAKRISHNAN 01234567 Director 01/04/2018 6 yrs Approved
GAUTAM BHAGWANDAS DOSHI 01234567 Director 01/04/2018 6 yrs Approved
PREMKUMAR MENON RAMUNNI 01234567 Director 01/04/2018 6 yrs Approved
AKSHAY RAJENDRA SHAH 01234567 Director 01/04/2018 6 yrs Approved
  • 11 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
NameDesignationTotal remuneration
A K SharmaManaging Director2.4 cr
R MehtaWhole-time Director1.6 cr
S IyerCFO95.0 L

Remuneration is disclosed in the latest annual return. Unlock full report

06

Ownership & Group Intelligence

As per FY 2023 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
-

Promoters hold the largest single block of equity - exact percentages are part of the full report.

Key managerial personnel: ABHAY BHAGWANDAS DOSHI (Managing Director) · RAJIV BHAGWANDAS DOSHI (Whole-time director) · PREMA RADHAKRISHNAN (CFO)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 40 · Distress 75
Growth signals & trust indicators
Operating for 36+ years.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
2 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 6.05 Lakh.
1 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence82/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • 1 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment72/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 9.90 cr already registered.
  • Compliance record supports lending.
Investor view67/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • No clear growth signals in the filed years.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
08 Jun 2026
Charge satisfied
Sundaram Finance Ltd.
04 Jun 2026
Charge created
The South Indian Bank Limited - 4.95 cr
02 Jun 2026
Charge satisfied
Others
27 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
28 Sep 2024
Director appointed
PREMKUMAR MENON RAMUNNI (Director)
24 Aug 2024
Director appointed
MARYAM SHOJAEI BAGHINI (Director)
Director appointed
AKSHAY RAJENDRA SHAH (Director)
06 Aug 2024
Director appointed
JAYESH KHIMJI RAMBHIA (Director)
16 Jun 2022
Charge satisfied
Others
19 May 2022
Charge created
Others - 4.95 cr
15 Nov 2021
Director appointed
MANSI GUPTA (Company Secretary)
24 Mar 2021
Charge satisfied
Apna Sahakari Bank Ltd.
15 Jan 2020
Director ceased
RAVINDRA VISHNUPRASAD JOSHI
08 Aug 2019
Director ceased
JUZER VASI MOHSIN
10

Key Observations

Auto-generated from the data above
Revenue declined 2.1x over the last 4 financial year(s).
Net profit margin moved from 24% to 0.86.
Debt-to-equity stands at 61% - manageable leverage.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
11 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Promoters hold the largest single block of equity as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Janakee Industrial Products Private Limited U21019OR2005PTC008233 Khurda, Orissa, India
Tiinlab Acoustic Technology India U31909UP2019FTC116283 Noida, Uttar Pradesh, India
Spm Instrument U27109TG1991PTC012967 Hyderabad, Telangana, India
Adiga Transformers And Coils Private Limited U31102KA1992PTC012943 Bengaluru, Karnataka, India
Sapcon Instruments U33112MP1983PTC002240 Indore, Madhya Pradesh, India
Excel-Par Electronics Private Limited U31200KA2007PTC041956 Mysore, Karnataka, India
Kaystar Industrial Controls Private Limited U31909MH2019PTC330435 Asangaon, Shahapur, Maharashtra, India
Gsas U29100KA2012PTC067462 Bangalore, Karnataka, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Fine-Line Circuits Limited before audits and certifications: compliance score 85/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Fine-Line Circuits Limited: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.

Bankers & NBFCs

Current banker verdict: Favourable lending indicators. Credit risk score 55/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 40/100, margin trends, ownership structure and peer set for Fine-Line Circuits Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 86/100, distress signals and MSME payment-delay disclosures - know whether Fine-Line Circuits Limited pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Fine-Line Circuits Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Fine-Line Circuits Limited an active company?

Fine-Line Circuits Limited has MCA status “Active” with a compliance score of 85/100 (Low Risk).

Is Fine-Line Circuits Limited financially healthy?

Fine-Line Circuits Limited has a Financial Health Score of 85/100 (Low Risk) based on its filed financial statements.

Should I do business with Fine-Line Circuits Limited?

Its overall Trust Score is 86/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Fine-Line Circuits Limited?

Promoters hold the largest single block of equity - exact percentages are in the full report. 11 active director(s) are on record.

Does Fine-Line Circuits Limited have loans or charges against its assets?

2 open charge(s) are registered against its assets, and 6 earlier charge(s) stand satisfied.

Is Fine-Line Circuits Limited up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 85/100 (Low Risk).

Is it risky to lend to Fine-Line Circuits Limited?

Its Credit Risk Score is 55/100 (Moderate). Banker verdict: Favourable lending indicators.

Disclaimer: This report is generated automatically from MCA filings and public records as available in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice. Verify from official sources and consult a qualified professional before any business, lending or investment decision. If you represent this company and believe any information is inaccurate or outdated, report it here and we will review promptly.