Magnet Financial Services Private Limited

Founded in 1994 and headquartered in Maharashtra, India.

1994 | Mumbai, Maharashtra (India) | Active
Last Updated:

Magnet Financial Services Profile

Key Indicators

  • Authorised Capital ₹ 1.16 Cr
  • Paid Up Capital ₹ 1.16 Cr
  • Company Age 30 Year, 9 Months
  • Last Filing with ROC 31 Mar 2024
  • Revenue Growth -69.39%
  • Profit Growth -93.25%
  • Ebitda -80.78%
  • Net Worth -0.19%
  • Total Assets 44.30%

About Magnet Financial Services

Magnet Financial Services Private Limited (MFSPL) is a Private Limited Indian Non-Government Company incorporated in India on 21 July 1994 and has a history of 30 years and nine months. Its registered office is in Mumbai, Maharashtra, India.

The Corporate was formerly known as Parntech Distributors Pvt Ltd. The Company is engaged in the Financial Services Industry.

The Company's status is Active, and it has filed its Annual Returns and Financial Statements up until 31 March 2024. It's a company limited by shares with an authorized capital of Rs 1.16 Cr and a paid-up capital of Rs 1.16 Cr, as per Ministry of Corporate Affairs (MCA) records.

Harsh Mutha and Abhijit Mutha serve as directors at the Company.

Company Details

  • Location

    Mumbai, Maharashtra, India

  • Telephone

    +91-XXXXXXXXXX

  • Email Address

  • Website

  • Social Media

Corporate Identity Details

  • CIN/LLPIN

    U51109MH1994PTC306594

  • Company No.

    306594

  • Company Classification

    Private Limited Indian Non-Government Company

  • Incorporation Date

    21 Jul 1994

  • Date of AGM

    18 Sep 2024

  • Date of Balance Sheet

    31 Mar 2024

  • Listing Status

    Unlisted

  • ROC Code

    Roc Mumbai

Industry

Financial Services
Company report

Magnet Financial Services Private Limited

Explore comprehensive data for Magnet Financial Services Private Limited, including financials, compliance details, shareholding patterns, and litigation history.

Who are the key members and board of directors at Magnet Financial Services?

Board Members (2)

NameDesignationAppointment DateStatus
Harsh Mutha Country flag representing In Director 28-Aug-2018Current
Abhijit Mutha Country flag representing In Director 28-Aug-2018Current

Financial Performance of Magnet Financial Services.

Magnet Financial Services Private Limited, for the financial year ended 2022, experienced significant reduction in revenue, with a 69.39% decrease. The company also saw a substantial fall in profitability, with a 93.25% decrease in profit. The company's net worth dipped by a decrease of 0.19%.

Magnet Financial Services revenue growth over time
Magnet Financial Services profit and loss trends over time
  • Key Matrics
  • Balance Sheet
  • Profit and Loss
  • Cash Flow
  • Ratios
Metrics
(FY 2023)YOY Growth
(FY 2022)(FY 2021)(FY 2020)(FY 2019)
Total Revenue
-69.39%
Revenue from Operations
-69.39%
Total Assets
44.30%
Profit or Loss
-93.25%
Net Worth
-0.19%
EBITDA
-80.78%

What is the Ownership and Shareholding Structure of Magnet Financial Services?

In 2023, Magnet Financial Services had a promoter holding of 100.00%. Access key insights, ownership, including shareholding patterns, funding, foreign investors, KMP remuneration, group structure, and overseas investments.

Shareholding Indicator graph

Charges (Loans)

Placeholder for charges-related data

There are no open charges registered against the company as per our records.

How Many Employees Work at Magnet Financial Services?

Unlock and access historical data on people associated with Magnet Financial Services, such as employment history, contributions to the Employees' Provident Fund Organization (EPFO), and related information.

Employee growth trends for Magnet Financial Services Private Limited

Deals i

Graph showing company valuation over time

Gain comprehensive insights into the Deals and Valuation data of Magnet Financial Services, offering detailed information on various transactions, including security allotment data. Explore the intricate details of financial agreements, mergers, acquisitions, divestitures, and strategic partnerships that have shaped Magnet Financial Services's trajectory.

Rating

Graph displaying rating trends over time

Access the credit rating data, providing valuable insights into the company's creditworthiness and financial stability. Explore assessments from leading credit rating agencies, evaluating factors such as debt obligations, liquidity, profitability, and overall financial health.

Alerts

Alert Indicator

Stay informed about regulatory alerts and litigation involving and associated companies. Receive timely updates on legal proceedings, regulatory changes, and compliance issues that may impact the company's operations, reputation, and financial performance. Monitor litigation involving subsidiaries, joint ventures, and other affiliated entities to assess potential risks and liabilities.

Latest Updates, News, and FAQs on Magnet Financial Services

Recent activity within the organization

  • Annual General Meeting

    Magnet Financial Services Private Limited last Annual general meeting of members was held on 18 Sep 2024 as per latest MCA records.

  • Balance Sheet

    Magnet Financial Services Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.

  • Director Appointment

    Harsh Ritesh Mutha was appointed as a Director was appointed as a Director on 28 Aug 2018 & has been associated with this company since 6 years 8 months .

  • Director Appointment

    Abhijit Champalal Mutha was appointed as a Director was appointed as a Director on 28 Aug 2018 & has been associated with this company since 6 years 8 months .

  • Company Incorporation

    Magnet Financial Services Private Limited was registered on 21 Jul 1994 with Roc Mumbai & aged 30 years 9 months as per MCA records.

Frequently asked questions

  • What is the Incorporation or founding date of Magnet Financial Services Private Limited?

    Magnet Financial Services Private Limited was incorporated on 21 Jul 1994.

  • What is authorized share capital and paid-up capital of Magnet Financial Services Private Limited?

    The authorized share capital of Magnet Financial Services Private Limited is ₹ 1.16 Cr and paid-up capital is ₹ 1.16 Cr.

  • Who are the current board members & directors of Magnet Financial Services Private Limited?

    Currently 2 directors are associated with Magnet Financial Services Private Limited.

    • Harsh Ritesh Mutha
    • Abhijit Champalal Mutha

  • What is the registered address of Magnet Financial Services Private Limited?

    As per Ministry of Corporate Affairs (Mca), the registered address of Magnet Financial Services Private Limited is 2403 A-Wing Marathon Futurex Mafatlal Mills Compound N M Joshi Marg, Lower Parel India, Mumbai, Maharashtra, 400013.

  • What is the corporate identification number (CIN) and company number of Magnet Financial Services Private Limited?

    The corporate identification number (CIN) of Magnet Financial Services Private Limited is U51109MH1994PTC306594 and the company number is 306594 as per Ministry of Corporate Affairs (MCA).

  • What has been the recent revenue trend for Magnet Financial Services Private Limited?

    According to the financial reports for the fiscal year 2022, the revenue trend for Magnet Financial Services Private Limited has fallen by -69.39%.

  • What change has been observed in the net worth of Magnet Financial Services Private Limited, and by what percentage?

    The financial reports for the fiscal year 2022 indicates that The net worth of Magnet Financial Services Private Limited has experienced an downturn of -0.19%.

  • When was the last Balance Sheet of Magnet Financial Services Private Limited filed with the ROC?

    The most recent Balance Sheet for Magnet Financial Services Private Limited was filed with the ROC on 31 Mar 2024.

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