Maharashtra Electronics Corporation Limited - Due diligence report

A 360° intelligence report on Maharashtra Electronics Corporation Limited: trust score, financial health, credit view, compliance, directors…

1978-01-12 Mumbai, Maharashtra Active Unlisted Active Non-Compliant
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Maharashtra Electronics Corporation Limited — 360° Intelligence Report

Generated from MCA filings & public records
40/100
Trust Score
Caution Indicated

Maharashtra Electronics Corporation Limited is assessed as Caution Indicated with a Trust Score of 40/100. Maharashtra Electronics Corporation Limited is an active public limited state government company incorporated in 1978, operating in the Consumer Electronics & Durables sector. Reported revenue has declined across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and high financial risk profile.

Report generated on 10 Jul 2026 from the latest processed filings. Maharashtra Electronics Corporation Limited snapshot & full profile →

Financial Health › Caution
Overall Assessment CautionWeakNeutralGoodStrong Weak
Compliance › Weak

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 ScoreCaution Indicated
40/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
41/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
5/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
55/100
Board strength, DIN status, churn and network.
Growth ScoreCaution Indicated
40/100
Revenue, profit, asset and hiring momentum.
Distress ScoreCaution Indicated
30/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 3 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: 45/100 Caution Indicated
  • Negative operating earnings - debt service depends on external support.
  • No open charges - unencumbered balance sheet.

Charges position: 0 open (-) · 6 satisfied (74.18 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Indian Bank4 48.0 cr
State Bank Of India1 48.0 cr
The State Industrial & Investment Corpn. Of Mah. Ltd1 48.0 cr
Compliance Score: 41/100 Caution Indicated
  • Company status is Active as per MCA.
  • Marked ACTIVE non-compliant (INC-22A).
  • Last balance sheet is for Mar 2017 - filings overdue.
  • Litigation present in 2 court forum(s).
Legal cases on record (2)
05

Director Intelligence

Stability score: 55/100
NameDIN / PANDesignationAppointedTenureDIN status
VISWANATH GIRIRAJ 01234567 Director 01/04/2018 6 yrs Approved
POPAT DADA MALIKNER 01234567 Director 01/04/2018 6 yrs Approved
AVINASH JAGANNATH SUBHEDAR 01234567 Director 01/04/2018 6 yrs Approved
AVINASH KONDIBA DHAKANE 01234567 Director 01/04/2018 6 yrs Approved
  • 4 directors on the board.
  • AVINASH JAGANNATH SUBHEDAR has DIN status "Deactivated due to non-filing of DIR-3 KYC".
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2017 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 a dominant controlling stake - exact percentages are part of the full report.

Key managerial personnel: VISWANATH GIRIRAJ (Managing Director) · AVINASH JAGANNATH SUBHEDAR (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 40 · Distress 30
Growth signals & trust indicators
Operating for 48+ years.
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
Negative net worth.
Statutory filings appear overdue.
Compliance score is weak (41/100).
2 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence37/100
Caution indicated
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • 4 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment32/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • No existing security registered - first-charge position available.
  • Compliance gaps should be priced into terms.
Investor view28/100
Limited indicators at present
Growth quality and scalability through an investor lens.
  • No clear growth signals in the filed years.
  • Margin and return trends computable from filings.
  • Management churn warrants questions.
09

MCA Filings & Events Timeline

Latest 15 events
01 Jul 2021
Director ceased
ANNASAHEB BHANUDAS MISAL
28 Jun 2019
Director appointed
AVINASH JAGANNATH SUBHEDAR (Managing Director)
12 Jun 2018
Director appointed
POPAT DADA MALIKNER (Nominee Director)
31 Oct 2017
Director ceased
VISWANATH GIRIRAJ
30 Sep 2017
Last AGM held
Annual general meeting
31 Mar 2017
Latest balance sheet
Filed with ROC
27 Dec 2016
Director ceased
ABASAHEB LIMBAJI JARHAD
05 Dec 2015
Director appointed
AVINASH KONDIBA DHAKANE (Director)
Director ceased
RADHIKA RASTOGI
Director ceased
SANJAY KHASERAO SAWANT
Director ceased
SAMIR KUMAR BISWAS
03 Aug 2015
Charge satisfied
State Bank Of India
20 Jun 2013
Charge satisfied
The State Industrial & Investment Corpn. Of Mah. Ltd
11 Jun 2013
Charge satisfied
Indian Bank
12 Jul 2011
Director ceased
VIJAYA LAKSHMI BIDARI SHANKAR
10

Key Observations

Auto-generated from the data above
Revenue declined 38% over the last 2 financial year(s).
4 active director(s) / partner(s); review board churn before relying on management continuity.
All 6 registered charge(s) stand satisfied - past borrowings repaid.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2017 annual return.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Vestal Natural Private Limited U29253HR2016PTC057888 Faridabad, Haryana, India
Okwu India Private Limited U74999UP2016PTC084998 Noida, Uttar Pradesh, India
Max Micro Power Private Limited U32109RJ2011PTC036635 Jaipur, Rajasthan, India
Srs Automotive Components Private Limited U29253HR1983PTC048396 Faridabad, Haryana, India
Anmol Electroplast Private Limited U25191DL2014PTC267836 Delhi, Delhi, India
Agile Electronics Circuit Designs Private Limited U74900KA2013PTC072277 Bengaluru, Karnataka, India
Arya Microwave Private Limited U31909DL1987PTC187349 Delhi, Delhi, India
Minilec Electronics Private Limited U31300PN2011PTC138925 Pune, Maharashtra, India
12

Who Uses This Report

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

Verify Maharashtra Electronics Corporation Limited before audits and certifications: compliance score 41/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Maharashtra Electronics Corporation 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: Enhanced diligence advised. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Limited indicators at present. Growth score 40/100, margin trends, ownership structure and peer set for Maharashtra Electronics Corporation Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Caution indicated. Trust score 40/100, distress signals and MSME payment-delay disclosures - know whether Maharashtra Electronics Corporation Limited pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (2 case(s) on record), regulatory flags, charge documents trail and director networks for Maharashtra Electronics Corporation Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Maharashtra Electronics Corporation Limited an active company?

Maharashtra Electronics Corporation Limited has MCA status “Active” with a compliance score of 41/100 (Caution Indicated).

Is Maharashtra Electronics Corporation Limited financially healthy?

Maharashtra Electronics Corporation Limited has a Financial Health Score of 5/100 (Caution Indicated) based on its filed financial statements.

Should I do business with Maharashtra Electronics Corporation Limited?

Its overall Trust Score is 40/100 (Caution Indicated). Vendor verdict: Caution indicated. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Maharashtra Electronics Corporation Limited?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 4 active director(s) are on record.

Does Maharashtra Electronics Corporation Limited have loans or charges against its assets?

No open charges - all 6 registered charge(s) stand satisfied, indicating past borrowings were repaid.

Is Maharashtra Electronics Corporation Limited up to date with its ROC filings?

Marked ACTIVE non-compliant (INC-22A). Overall compliance score: 41/100 (Caution Indicated).

Is it risky to lend to Maharashtra Electronics Corporation Limited?

Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.

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.