MARVEL DECOR LIMITED

Marvel Decor Limited was incorporated as a Private Limited Company with the name ' Modele Blinds and Components Private Limited' on October 04, 1996. Subsequently, the name of the Company was changed from Modele Blinds and Components Private Limited to Accumax Interior Products Private Limited on June 30, 2000. Further, the name of the Company changed from Accumax Interior Products Private Limited to Marvel Decor Private Limited on January 05, 2018. The status of Company converted into a Public Limited Company and accordingly, the name of the Company was changed to Marvel Decor Limited on January 23, 2018. Promoters, Ashok Ramniklal Paun and Mr. Dipak Paun, were meanwhile conducting business in the name of Accumax Industries, a partnership firm, manufacturing accessories for blinds. The Company established itself as a manufacturer of contemporary, high quality window furnishings. A dynamic in-house manufacturing, administration and design team and a nationwide distribution network, the company assists its consumers with all of their design, stock, fittings and fabrication requirements. The Company grew by providing a service unmatched in the window blind industry under the leadership of Mr. Ashok Paun and Mr. Dipak Paun. Over the years the company has established itself as one of the leading manufacturer of quality window blinds in India under the brand name 'Marvel'. Marvel is one of the top leading brands in the Window Blinds segment with market network spread nationwide. Whether it's for a domestic or commercial application, Marvel has a variety of smart and innovative solutions for all jobs, great or small. In the year 2000-2001, the promoters Mr. Ashok Paun and Mr. Dipak Paun took over the command of the Company and accelerated the business with manufacturing of venetian blinds components and supplying it to the company making venetian blinds. The first manufacturing unit was established in 2000 at Jamnagar, in Gujarat in which manufacturing of readymade venetian blinds specially for Reliance Refineries started and was into the business for five years. In 2005-2006 Mr. Ashok Paun established 'Marvel' as a brand commencing with the manufacturing of Curtain rods. In 2011-2012, manufacturing of Roller blinds commenced and the company started supplying it to the furnishing stores. Later manufacturing of Bamboo, Vertical and Wooden Venetian blinds were added to the cart. Having a vision of growing the brand 'Marvel' and taking it to the PAN India level; in the year 2013-2014, Marvel took a great leap with a valiant decision of Mr. Ashok Ramniklal Paun introducing 9 blinds range at one single bound. Marvel started its second manufacturing unit at Plot No. 211, GIDC Phase II, Dared, Jamnagar, Gujarat. This was a turning and a challenging phase for Marvel as the company also introduced 'Gallery' concept for marketing its blinds making it a point to be a known brand providing niche range to its channel partners. Today, Marvel has marked its presence nationwide having 338 galleries, in 224 cities of 24 states. It definitely needed much of market expertise, knowing the business insights, aggressiveness and devotion to be at the peak. Ultimately it worked out and it enhanced the brand image, new blinds range were introduced in the market, excellence in manufacturing facilities and improvised awareness to people about blinds. Thereafter, in the year 2016-2017 the company started expanding its second manufacturing unit to Plot No. 210, GIDC Phase II, Dared, Jamnagar, Gujarat to increase its production capacity with ultra modern machineries. As a result, production at Plot No. 210 started with modern machineries in 2017. The Company introduced Market Organizers in 14 strategic locations across the nation who function as a mini factory to Marvel in 2018. In March 2018, the Company came up with a Public Issue of 46,16,000 Equity Shares by raising equity funds aggregating Rs 26.26 Crore.