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Mitshi India Ltd Company Summary

₹19.26
(-1.18%)
Jul 23, 2024|03:40:00 PM

Mitshi India Ltd Summary

Mitshi India Limited (formerly known as Dera Paints and Chemicals Ltd) was incorporated in July 23rd, 1990. The company was in the field of manufacturing automotive, industrial and decorative paints, thinners & synthetic resins with trading of industrial solvents and other raw materials to concern and allied industry. After huge fire in companys plant at Vasai, Mumbai in 1998, the company had to stop manufacturing activity. The Company faced lot of challenges and due to short fall of capital, the company could not recommence manufacturing activity to cater to prestigious clients like Mahindra & Mahindra Ltd, Castrol Ltd, and many other prestigious industries and dealers throughout the country. The Company is in primarily in the business of trading of commoditiesIn FY16, the company started various business activities such as, software developments, flardware & computers connected various products, logistics business, gold, silver, platinum, diamond, jewellery, papers and byproducts of papers, general merchandise (online or offline e-commerce business) and scrap business.During the year 2016, the company carried out 48% trading in chemicals and 50% in software activities etc. to mitigate losses.During FY16, the Company issued 18,39,930 equity shares of Rs. 10/- each at par on preferential basis after obtaining all the applicable approvals.In FY17, company started developing software for sale of vegetables & fruits for online booking for retail business with door delivery in Oxable division.During the year 2018, the company carried out vegetables & fruits supply business on 100% basis and initiated to start the logistic and software activities etc.

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