Afcan Impex Private Limited
About Afcan Impex Private Limited
Data last updated:
Afcan Impex Private Limited is a private limited company based in Ahmedabad, Gujarat, 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 textile retail and distribution segment of the home and lifestyle products sector. It was incorporated on 30 September 2003.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U51909GJ2003PTC081238. Its GSTIN is 24AAECA5156E1Z1 (Gujarat).
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹2 Cr. It was formerly known as Arzee Rags (India) Private Limited. It is led by directors including Kishorkumar Bachuram Kapdi (Managing Director) and Nildeep Bipinbhai Bhatti.
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Office No. – 1002/A Pinnacle Building Corporate Road Vejalpur Prahladnagar, Ahmedabad, Gujarat, India – 380004.
As per the financials filed for FY 2019, the company reported a revenue of ₹11.45 Cr, a decline of 2% compared to the previous year. For the same year it recorded a net profit of ₹31.94 Lakh (net margin 2.8%) and EBITDA of ₹31.94 Lakh (EBITDA margin 2.8%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years and 12% over five years.
As per MCA filings, the company has open charges of ₹11.3 Cr on record. Court records list 31 cases involving the company, including 18 filed by the company and 15 filed against it; 11 cases are pending.
Company details
CIN history
Afcan Impex has one previous CIN (Corporate Identification Number): U51909MH2003PTC142437. The current CIN is U51909GJ2003PTC081238, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51909GJ2003PTC081238 | Current |
| U51909MH2003PTC142437 | Previous |
Contact details
Afcan Impex Private Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressOffice No. – 1002/A Pinnacle Building Corporate Road Vejalpur Prahladnagar, Ahmedabad, Gujarat, India – 380004
- IndustryHome & Lifestyle, Textile Retail & Distribution
To see the full contact details of Afcan Impex 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
Business activity
The main business activity of Afcan Impex is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Afcan Impex Private Limited, buy the company report.
Financials of Afcan Impex Private Limited
FY 2019 filings availableAfcan Impex Private Limited reported revenue of ₹11.45 Cr (down 2% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 12% over five years, including a 2% fall in the latest year. EBITDA fell 27% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹11.45 Cr | ||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹31.94 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹31.94 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 2.8% | ||||
| Net Profit Margin | 2.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Afcan Impex Private Limited, buy the company report.
Board of directors of Afcan Impex Private Limited
Afcan Impex has 4 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nildeep Bipinbhai Bhatti | Director | 28 Nov 2011 | 14 Years 11 Months | As last reported |
| Hirenkumar Ashokbhai Patel | Additional Director | 16 Jan 2020 | 6 Years 9 Months | As last reported |
| Anjali Kishor Kapdi | Additional Director | 23 Jul 2020 | 6 Years 3 Months | As last reported |
| Kishorkumar Bachuram Kapdi Also directs: Plaint & Plea Business Law House LLP, Multicomm Industries Limited, Selen Petrochem Private Limited and 2 more | Managing Director | 19 Jul 2011 | 15 Years 3 Months | As last reported |
Peer comparison
Afcan Impex Private Limited is compared with the 6 companies closest to it by revenue in the Consumer Products industry (Textile Retail and Distribution), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Bumaco Marketing Private Limited | ₹11.51 Cr (FY 2025) | -18.0% | Ahmedabad, Gujarat, India | |||
| Ganga Ram Synthetics Private Limited | ₹11.5 Cr (FY 2024) | -45.0% | Delhi, India | |||
| Berawala Textile Private Limited | ₹11.46 Cr (FY 2021) | -53.0% | Ahmedabad, Gujarat, India | |||
| Ek Dant Creations Private Limited | ₹11.45 Cr (FY 2019) | -7.0% | New Delhi, Delhi, India | |||
| Afcan Impex Private Limitedthis company | ₹11.45 Cr (FY 2019) | ₹31.94 Lakh | 2.8% | -2.0% | Ahmedabad, Gujarat, India | |
| Vatsal Vastraa Private Limited | ₹11.44 Cr (FY 2024) | 185.0% | Ludhiana, Punjab, India | |||
| Palak Fashion Private Limited | ₹11.42 Cr (FY 2025) | -5.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Afcan Impex Private Limited, buy the company report.
Auditor
Afcan Impex Private Limited is audited by GANGARAM PATEL & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GANGARAM PATEL & CO | FY 2019 | 103072W |
Shareholding
The shareholding of Afcan Impex Private Limited is on record for 5 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Afcan Impex Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Sep 2012 | 10380552 | Bank of Maharashtra | ₹5.65 Cr | Open | |
| 21 Sep 2012 | 10380543 | Bank of Maharashtra | ₹5.65 Cr | Open |
To see the full charge records of Afcan Impex Private Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
Afcan Impex Private Limited has 31 court cases on record: 18 filed by Afcan Impex, 15 filed against it. 11 cases are pending and 20 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLT | 13 | 7 | 9 |
| High courts | 7 | 1 | 1 |
| District courts | 6 | 4 | 0 |
| NCLAT | 4 | 2 | 1 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 31)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Ahmedabad | Insolvency matter | Filed against the company by N. R. Brothers Multitrade LLP | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Vashistha Industries Limited and 10 others | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Bank of Maharashtra | Pending |
| Supreme Court | Court case (1006-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Others) | Filed against the company by Kishore Bachuram Kapdi Promotor and Director of the Suspended Board of Corporate Debtor, M/S. Afcan Impex Pvt. Ltd. A- 71, Nabula Tower, Judges Bungalow, Bodakdev, ,Ahmedabad , Gujarat | Disposed |
| NCLT, Ahmedabad | Insolvency matter | Filed against the company by Kishor Bachuram Kapdi A Share Holder of 97.5% in the Corporate Debtor Compnay M/S Afcan Impex Private Limited | Disposed |
To see the full case history of Afcan Impex 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
No delayed payments to MSME suppliers are on our record for Afcan Impex Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Afcan Impex has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAECA5156E1Z1 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Afcan Impex Private Limited, buy the company report.
Recent activity
Afcan Impex Private Limited has 22 board changes on record since 2007: 4 appointments and 18 cessations. The latest: Anjali Kishor Kapdi was appointed as Additional Director on 23 Jul 2020.
17 earlier events are in the company report.
Frequently asked questions
Afcan Impex 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.
Afcan Impex is a company under insolvency, formerly operating as a private limited company based in Ahmedabad, Gujarat, India. The company works in textile retail and distribution, within the home and lifestyle industry. It was incorporated on 30 September 2003 and is registered under CIN U51909GJ2003PTC081238. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Afcan Impex has 4 current directors:
- Kishorkumar Bachuram Kapdi - Managing Director
- Nildeep Bipinbhai Bhatti - Director
- Hirenkumar Ashokbhai Patel - Additional Director
- Anjali Kishor Kapdi - Additional Director
The latest financial statements of Afcan Impex on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Afcan Impex is U51909GJ2003PTC081238. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Afcan Impex has open charges of ₹11.3 Cr and no satisfied charges on record as per latest MCA filings.
Afcan Impex has 31 court cases on record: 18 filed by the company and 15 filed against it. 11 are pending. Most are in the nclt.
Afcan Impex was incorporated on 30 September 2003. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Afcan Impex by revenue are Bumaco Marketing Private Limited, Ganga Ram Synthetics Private Limited, Berawala Textile Private Limited, Ek Dant Creations Private Limited, Vatsal Vastraa Private Limited and 1 more, all in the Consumer Products industry (Textile Retail and Distribution), with the same principal business activity (wholesale trading).
Anjali Kishor Kapdi was appointed as Additional Director on 23 Jul 2020. Darshan Kamleshbhai Kapdi ceased to be Additional Director on 23 Jul 2020. Bhagwanbhai Laxmichand Lalwani ceased to be Additional Director on 16 Jan 2020. Afcan Impex has 22 board changes on record in total.
The registered office of Afcan Impex is at Office No. – 1002A Pinnacle Building Corporate Road Vejalpur Prahladnagar, Ahmedabad, Gujarat, India – 380004.