About Adgaonkar Saraf Private Limited
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Adgaonkar Saraf Private Limited is a private limited company based in Nashik, Maharashtra, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 27 March 2003.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U36911MH2003PTC139746. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹3.5 Cr and a paid-up capital of ₹3.5 Cr. It is led by directors Mahesh Ram Adgaonkar and Gokul Sham Adgaonkar.
Its last annual general meeting (AGM) was held on 30 September 2018, and its latest financial statements are for the year ended 31 March 2018. The registered office is at Viraj Corner Canada Corner Sharanpur Road, Nashik, Maharashtra, India – 422002.
As per the financials filed for FY 2018, the company reported a revenue of ₹89.66 Cr, a decline of 36% compared to the previous year. For the same year it recorded a net profit of ₹11.59 Lakh (net margin 0.1%) and EBITDA of ₹5.84 Cr (EBITDA margin 6.5%). Revenue has declined at a compounded annual rate (CAGR) of 5% over three years.
The company has about 188 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹42.64 Cr and satisfied charges of ₹18.5 Cr on record. Court records list 30 cases involving the company, including 1 filed by the company and 29 filed against it; 18 cases are pending. The company has 1 deal on record (1 funding round), with disclosed funding of ₹3.49 Cr; the latest was in March 2015. The company has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 12 overdue payments to 6 micro and small suppliers.
The last known website on record is adgaonkarsaraf.com.
Company details
Contact details
Adgaonkar Saraf Private Limited's registered office is in Nashik, Maharashtra. Its website is adgaonkarsaraf.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressViraj Corner Canada Corner Sharanpur Road, Nashik, Maharashtra, India – 422002
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
To see the full contact details of Adgaonkar Saraf Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Financials of Adgaonkar Saraf Private Limited
FY 2018 filings availableAdgaonkar Saraf Private Limited reported revenue of ₹89.66 Cr (down 36% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 5% over three years, including a 36% fall in the latest year. EBITDA fell 53% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ₹89.66 Cr | |||
| Other Income | ||||
| Total Revenue | ||||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | ₹5.84 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | ₹11.59 Lakh | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
| Short-term Borrowings | ||||
| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
| Investments | ||||
| Inventories | ||||
| Trade Receivables | ||||
| Cash and Bank Balance | ||||
| Total Assets | ||||
Financial Ratios
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | 6.5% | |||
| Net Profit Margin | 0.1% | |||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
| Debt-to-Equity Ratio | ||||
| Interest Coverage Ratio | ||||
| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Adgaonkar Saraf Private Limited, buy the company report.
Board of directors of Adgaonkar Saraf Private Limited
Adgaonkar Saraf has 2 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahesh Ram Adgaonkar Also directs: Adgaonkar Silk & Sarees Private Limited | Director | 27 Mar 2003 | 23 Years 7 Months | As last reported |
| Gokul Sham Adgaonkar Also directs: Adgaonkar Silk & Sarees Private Limited | Director | 27 Mar 2014 | 12 Years 7 Months | As last reported |
Auditor
Adgaonkar Saraf Private Limited is audited by SABADRA & SABADRA for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SABADRA & SABADRA | FY 2018 | 108921W |
Shareholding
The shareholding of Adgaonkar Saraf Private Limited is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Adgaonkar Saraf Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Mar 2019 | 100250439 | Others | ₹2.24 Cr | Open | |
| 31 Mar 2017 | 100122419 | Others | ₹39.6 Lakh | Open | |
| 08 Aug 2015 | 10605064 | Others | ₹40 Cr | Open | |
| 30 Aug 2013 | 10450269 | Ing Vysya Bank Limited | ₹13.5 Cr | Satisfied | |
| 25 Aug 2011 | 10305374 | Axis Bank Limited | ₹5 Cr | Satisfied |
To see the full charge records of Adgaonkar Saraf Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Adgaonkar Saraf Private Limited has 1 deal on record (1 funding round), with disclosed funding of ₹3.49 Cr; the latest was in March 2015.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2015 | Funding round | ₹3.49 Cr | Investors: 3 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Adgaonkar Saraf Private Limited has 30 court cases on record: 1 filed by Adgaonkar Saraf, 29 filed against it. 18 cases are pending and 12 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 29 | 28 | 17 |
| High courts | 1 | 1 | 1 |
Cases on record (5 of 30)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Writ petition | Filed against the company by Omkara Assets Reconstruction Private Limited THR. Its Authorized Officer and Anr and 1 other | Pending |
| District court, Gurugram, Haryana | Cheque dishonour complaint | Filed against the company by Yes Bank Ltd. | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Edelweiss Retail Finance Limited | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Ecl Finance Ltd. | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Magma Fincorp Limited | Pending |
To see the full case history of Adgaonkar Saraf Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Adgaonkar Saraf Private Limited has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 12 overdue payments to 6 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 6)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| R S Diamonds Private Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Adgaonkar Saraf Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Adgaonkar Saraf Private Limited has a workforce of 188 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Adgaonkar Saraf has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Adgaonkar Saraf Private Limited, buy the company report.
Recent activity
Adgaonkar Saraf Private Limited has 11 board changes on record since 2003: 2 appointments and 9 cessations. The latest: Kush Ram Adgaonkar ceased to be Director on 01 Apr 2019.
10 earlier events are in the company report.
Frequently asked questions
Adgaonkar Saraf is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Adgaonkar Saraf is a company under insolvency, formerly operating as a private limited company based in Nashik, Maharashtra, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 27 March 2003 and is registered under CIN U36911MH2003PTC139746. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Adgaonkar Saraf has 2 current directors:
- Mahesh Ram Adgaonkar - Director
- Gokul Sham Adgaonkar - Director
The latest financial statements of Adgaonkar Saraf on record with the MCA are for the year ended 31 March 2018. Its last annual general meeting was held on 30 September 2018. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Adgaonkar Saraf is U36911MH2003PTC139746. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Adgaonkar Saraf has open charges of ₹42.64 Cr and satisfied charges of ₹18.5 Cr as per latest MCA filings.
Adgaonkar Saraf has 30 court cases on record: 1 filed by the company and 29 filed against it. 18 are pending. Most are in the district courts.
Adgaonkar Saraf was incorporated on 27 March 2003. It is registered with the Registrar of Companies, Mumbai.
Adgaonkar Saraf has 1 deal on record (1 funding round), with disclosed funding of ₹3.49 Cr; the latest was in March 2015.
Kush Ram Adgaonkar ceased to be Director on 01 Apr 2019. Laxmibai Shashikant Adgaonkar ceased to be Director on 01 Apr 2019. Love Ram Adgaonkar ceased to be Director on 01 Apr 2019. Adgaonkar Saraf has 11 board changes on record in total.
Adgaonkar Saraf has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 12 overdue payments to 6 micro and small suppliers. The latest return was filed on 01 Jun 2019.