Why Modicare Ltd.
Modicare Limited is a Non-govt company, incorporated on 12 Jul, 1973. It’s a public unlisted company and is classified as’company limited by shares’.Modiccare Limited | Modicare Company
Company’s authorized capital stands at Rs 2400.0 lakhs and has 30.7626% paid-up capital which is Rs 738.3 lakhs. Modicare Limited last annual general meet (AGM) happened on 29 Sep, 2017. The company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).
Modicare Limited is majorly in Business Services business from last 49 years and currently, company operations are active. Current board members & directors are BALBIR SINGH SYAN, KRISHAN KUMAR MODI, SAMIR MODI, CHARU MODI, RAMAMURTHY RAJGOPALAN IYER, RAJESH NAIR, RUCHIR KUMAR MODI, SHIKHA SHARMA and LALIT KUMAR MODI .
Company is registered in Delhi (Delhi) Registrar Office. Modicare Limited registered address is 5, COMMUNITY CENTRE, NEW FRIENDS COLONY, NEW DELHI DL 110025 IN.
|Date of Incorporation||12 Jul, 1973|
|Company Category||Company limited by Shares|
|Company Sub-category||Non-govt company|
|Business Activity||Business Services|
|Authorized Capital||2400.0 lakhs|
|Paid-up Capital||738.3 lakhs|
|Paid-up Capital %||30.7626|
|Registrar Office City||Delhi|
|Registration Date||12 Jul, 1973|
|AGM last held on||29 Sep, 2017|
|Balance Sheet last updated on||31 Mar, 2017|
U.K. market entry
Mr. Modi further said the company was looking at entering the U.K. market with cosmetics and wellness segment products and would be investing ₹60 crore in that.
“We will expand the product line in the U.K. We need to get UK FDA registration and EU FDA registration and that takes a long time,” the MD said. “Hence, launching with limited categories,” he added. The company also announced its foray into consumer durables last month with air purifiers.
“We have sold 5,000 units in October 2021, and expect the number to go up to 6000-8,000 units per month in Q3. In due course, we are looking at 25-30k a month,” Mr. Modi said.
The company would not be manufacturing the products and had tied up with Korean firm Cuckoo for the same. “We have our own R&D for our products. We do all the testing and decide what products to bring into the market… what will be the specifications…but we work with manufacturers as we don’t want to compromise on technology,” he said.
Modicare Online Joining Form
Modicare Limited | Modicare Company
Direct selling firm Modicare on Friday said it has been onboarding nearly two lakh consultants every month as people are turning to direct selling after losing their jobs amid the pandemic.
“During COVID many people lost jobs overnight, for them direct selling became an option. And they could do it from home as well, without stepping out,” said Samir Modi, founder and MD, Modicare Ltd.