Magnetic Information Technology Limited
Provides IT and computer services, manufactures and trades magnetic head assemblies for computer systems.
1982 | Distt Ropar, Punjab (India) | Active
Magnetic Information Technology Profile
Key Indicators
- Authorised Capital ₹ 1.20 Cr
- Paid Up Capital ₹ 8.20 M
- Company Age 42 Year, 8 Months
- Last Filing with ROC 31 Mar 2024
- Open Charges ₹ 1.94 Cr
- Revenue Growth -2.75%
- Profit Growth 20.52%
- Ebitda 20.77%
- Net Worth 13.57%
- Total Assets 10.67%
About Magnetic Information Technology
Magnetic Information Technology Limited (MITL) is a Public Limited Indian Non-Government Company incorporated in India on 10 August 1982 and has a history of 42 years and eight months. Its registered office is in Distt Ropar, Punjab.
The Corporate was formerly known as Alfa Peripherals Limited. The Company is engaged in the Information Technology 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 1.20 Cr and a paid-up capital of Rs 8.20 M.
The company currently has active open charges totaling ₹1.94 Cr.
Sumeet Sidhu, Satinder Dhawan, Rajinder Singh, and Three other members serve as directors at the Company.
Company Details
- Location Distt Ropar, Punjab
- Telephone
+91-XXXXXXXXXX
- Email Address
- Website
- Social Media
Corporate Identity Details
- CIN/LLPIN
U32109PB1982PLC005068
- Company No.
005068
- Company Classification
Public Limited Indian Non-Government Company
- Incorporation Date
10 Aug 1982
- Date of AGM
30 Sep 2024
- Date of Balance Sheet
31 Mar 2024
- Listing Status
Unlisted
- ROC Code
Roc Chandigarh
Industry
Information Technology
Magnetic Information Technology Limited
Explore comprehensive data for Magnetic Information Technology Limited, including financials, compliance details, shareholding patterns, and litigation history.
Who are the key members and board of directors at Magnetic Information Technology?
Executive Team (1)
| Name | Designation | Appointment Date | Status |
|---|---|---|---|
Pawitter Sidhu  | Managing Director | 29-Jun-1983 | Current |
Board Members (5)
| Name | Designation | Appointment Date | Status |
|---|---|---|---|
Sumeet Sidhu  | Director | 16-Mar-2002 | Current |
| Satinder Dhawan | Whole-Time Director | 16-Aug-2016 | Current |
| Rajinder Singh | Director | 03-Mar-2018 | Current |
| Rubina Sidhu | Director | 27-Jun-2020 | Current |
| Harninder Gill | Director | 03-Mar-2018 | Current |
Financial Performance of Magnetic Information Technology.
Magnetic Information Technology Limited, for the financial year ended 2021, experienced Minor drop in revenue, with a 2.75% decrease. The company also saw a substantial improvement in profitability, with a 20.52% increase in profit. The company's net worth Soared by an impressive increase of 13.57%.
- Key Matrics
- Balance Sheet
- Profit and Loss
- Cash Flow
- Ratios
| Metrics |
| (FY 2022) | (FY 2021) | (FY 2020) | (FY 2019) | ||
|---|---|---|---|---|---|---|---|
| Total Revenue |
| ||||||
| Revenue from Operations | |||||||
| Total Assets |
| ||||||
| Profit or Loss |
| ||||||
| Net Worth |
| ||||||
| EBITDA |
|
What is the Ownership and Shareholding Structure of Magnetic Information Technology?
In 2021, Magnetic Information Technology had a promoter holding of 44.99% and a public holding of 55.01%. Access key insights, ownership, including shareholding patterns, funding, foreign investors, KMP remuneration, group structure, and overseas investments.
Related Corporates (Common Directorship)
- Mitgart India Ltd
Sumeet Sidhu, Satinder Dhawan and 4 more are mutual person
- Sahib Electrowave Private Limited
Sumeet Sidhu is a mutual person
- Sidhu Sister Developers Private Limited
Sumeet Sidhu is a mutual person
- Sahib Tradelinks Private Limited
Sumeet Sidhu and Rubina Sidhu are mutual person
- Eventquest Marketing India Private Limited
Sumeet Sidhu is a mutual person
Charges (Loans)
Open Charges
₹1.94 Cr
Satisfied Charges
₹0
Charges Breakdown by Lending Institutions
- State Bank Of India : 0.72 Cr
- Punjab State Industrial Development Corpn. Limited : 0.60 Cr
- Industrial Finance Corporation Of India : 0.32 Cr
- Punjab Financial Corporation : 0.30 Cr
Latest Charge Details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 21 Oct 1987 | State Bank Of India | ₹4.63 M | Open |
| 01 Apr 1987 | Industrial Finance Corporation Of India | ₹3.15 M | Open |
| 23 May 1986 | State Bank Of India | ₹2.00 M | Open |
| 11 May 1984 | Punjab Financial Corporation | ₹3.00 M | Open |
| 02 May 1984 | State Bank Of India | ₹0.60 M | Open |
How Many Employees Work at Magnetic Information Technology?
Unlock and access historical data on people associated with Magnetic Information Technology, such as employment history, contributions to the Employees' Provident Fund Organization (EPFO), and related information.
Deals i
Gain comprehensive insights into the Deals and Valuation data of Magnetic Information Technology, 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 Magnetic Information Technology's trajectory.
Rating
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
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 Magnetic Information Technology
Recent activity within the organization
- Annual General Meeting
Magnetic Information Technology Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
- Balance Sheet
Magnetic Information Technology Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Chandigarh.
- Director Appointment
Rubina Sidhu was appointed as a Director was appointed as a Director on 27 Jun 2020 & has been associated with this company since 4 years 10 months .
- Director Appointment
Rajinder Singh was appointed as a Director was appointed as a Director on 03 Mar 2018 & has been associated with this company since 7 years 1 month .
- Director Appointment
Harninder Singh Gill was appointed as a Director was appointed as a Director on 03 Mar 2018 & has been associated with this company since 7 years 1 month .
- Director Appointment
Satinder Dhawan was appointed as a Whole-Time Director was appointed as a Whole-Time Director on 16 Aug 2016 & has been associated with this company since 8 years 8 months .
Frequently asked questions
What is the Incorporation or founding date of Magnetic Information Technology Limited?
Magnetic Information Technology Limited was incorporated on 10 Aug 1982.
What is authorized share capital and paid-up capital of Magnetic Information Technology Limited?
The authorized share capital of Magnetic Information Technology Limited is ₹ 1.20 Cr and paid-up capital is ₹ 8.20 M.
Who are the current board members & directors of Magnetic Information Technology Limited?
Currently 6 directors are associated with Magnetic Information Technology Limited.
- Sumeet Singh Sidhu
- Satinder Dhawan
- Rajinder Singh
- Rubina Sidhu
- Harninder Singh Gill
- Pawitter Singh Sidhu
What is the registered address of Magnetic Information Technology Limited?
As per Ministry of Corporate Affairs (Mca), the registered address of Magnetic Information Technology Limited is B 100 Phase Viisas Nagar Mohali India, Distt Ropar, Punjab.
What is the corporate identification number (CIN) and company number of Magnetic Information Technology Limited?
The corporate identification number (CIN) of Magnetic Information Technology Limited is U32109PB1982PLC005068 and the company number is 005068 as per Ministry of Corporate Affairs (MCA).
What has been the recent revenue trend for Magnetic Information Technology Limited?
According to the financial reports for the fiscal year 2021, the revenue trend for Magnetic Information Technology Limited has fallen by -2.75%.
What change has been observed in the net worth of Magnetic Information Technology Limited, and by what percentage?
The financial reports for the fiscal year 2021 indicates that The net worth of Magnetic Information Technology Limited has experienced an upsurge of 13.57%.
What are the total open charges for Magnetic Information Technology Limited?
As per the financial statements for fiscal Year 2021, The total open charges for Magnetic Information Technology Limited amount to ₹ 1.94 Cr.
When was the last Balance Sheet of Magnetic Information Technology Limited filed with the ROC?
The most recent Balance Sheet for Magnetic Information Technology Limited was filed with the ROC on 31 Mar 2024.
Unlock Business Insights – Explore Instantly!
Search company & director profiles for free and gain access to critical business data.
- 3.1M+ Companies
- 15M+ Legal Cases
- 525K+ Credit Ratings
- 5.8M+ Directors & KMP
- 750K+ Regulatory Alerts
- 1.1M+ Companies' Financial Records
People also Viewed
AS
Amarjit SidhuDirectorHG
Harinder GillWholetime Director
Similar Companies Based on IT Consulting & Support Services
Hcl Technologies Limited Delhi, India
Cognizant Technology Solutions India Private Limited Kanchipuram, Tamil Nadu, India
Capgemini Technology Services India Limited Pune, Maharashtra, India
Microsoft Corporation (India) Pvt Ltd Delhi, India
Ltimindtree Limited Mumbai, Maharashtra, India
Infosys Limited Bangaluru, Karnataka, India
Wipro Limited Bangaluru, Karnataka, India
Amazon Development Centre (India) Private Limited Bangaluru, Karnataka, India