About Associate Decor Limited
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Associate Decor Limited is a public limited company based in Malur, Karnataka, India, a subsidiary of Associate Holdings Private Limited. 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 wood products and mdf segment of the manufacturing sector. It was incorporated on 17 January 2007.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U20213KA2007PLC041502. Its GSTIN is 29AAKCS5136Q1ZI (Karnataka). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹52 Cr and a paid-up capital of ₹51.51 Cr. It was formerly known as Star Panel Boards Limited. It is led by directors including Yahya Mohamed Farouk Darvesh and Mohamed Farouk Suleman Darvesh.
Its last annual general meeting (AGM) was held on 18 June 2016, and its latest financial statements are for the year ended 31 March 2015. The registered office is at Plot No. 1 Phase IV KIADB Industrial Area Huralagera, Malur, Karnataka, India – 563160.
As per the financials filed for FY 2015, the company reported a revenue of ₹392.44 Cr, a growth of 30% compared to the previous year. For the same year it recorded a net profit of ₹11.13 Cr (net margin 2.8%) and EBITDA of ₹84.64 Cr (EBITDA margin 21.6%).
The company has about 294 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Associate Decor. As per MCA filings, the company has open charges of ₹739.22 Cr and satisfied charges of ₹96 Cr on record. Court records list 69 cases involving the company, including 28 filed by the company and 41 filed against it; 12 cases are pending.
The last known website on record is associatedecor.in.
Company details
Contact details
Associate Decor Limited's registered office is in Malur, Karnataka. Its website is associatedecor.in. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressPlot No. 1 Phase IV KIADB Industrial Area Huralagera, Malur, Karnataka, India – 563160
- IndustryManufacturing, Wood Products & MDF
To see the full contact details of Associate Decor 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
Brands
Associate Decor operates one associated brand: Associate Decor. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Associate Decor manufactures particle boards, laminates, and melamine faced chipboards for home decor. | associatedecor.com |
Business activity
The main business activities of Associate Decor are manufacturing and trade. In detail, this covers wood and wood products, furniture, paper and paper products and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Associate Decor Limited, buy the company report.
Financials of Associate Decor Limited
FY 2015 filings availableAssociate Decor Limited reported revenue of ₹392.44 Cr (up 30% YoY) for FY 2015.
Compounded Annual Growth Rate (CAGR)
Revenue rose 30% in the latest year. EBITDA rose 9% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2014-15 |
|---|---|
| Profit and Loss Statement | |
| Revenue from Operations | |
| Other Income | |
| Total Revenue | ₹392.44 Cr |
| Cost of Materials Consumed | |
| Employee Benefit Expense | |
| Finance Costs | |
| Depreciation and Amortisation | |
| Other Expenses | |
| Total Expenses | |
| EBITDA | ₹84.64 Cr |
| Profit Before Tax | |
| Tax Expense | |
| Net Profit (PAT) | ₹11.13 Cr |
| 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 2014-15 |
|---|---|
| Profitability | |
| EBITDA Margin | 21.6% |
| Net Profit Margin | 2.8% |
| 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 Associate Decor Limited, buy the company report.
Board of directors of Associate Decor Limited
Associate Decor has 9 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Yahya Mohamed Farouk Darvesh | Director | 04 Jul 2008 | 18 Years 3 Months | As last reported |
| Mohamed Farouk Suleman Darvesh | Director | 17 Jan 2007 | 19 Years 9 Months | As last reported |
| Srichand Satramdas Agicha Also directs: Associate Plantations Private Limited, Associate Plywood Industries Private Limited, Associate Lumbers Pvt Ltd and 5 more | Director | 19 Feb 2007 | 19 Years 8 Months | As last reported |
| Nooruddin Khan | Director | 17 Jan 2007 | 19 Years 9 Months | As last reported |
| Himayath Ali Khan | Director | 17 Jan 2007 | 19 Years 9 Months | As last reported |
| Ebrahim Suleman Darvesh | Director | 17 Jan 2007 | 19 Years 9 Months | As last reported |
Peer comparison
Associate Decor Limited is compared with the 9 companies closest to it by revenue in the Manufacturing industry (Wood, MDF, Particle Board and Plywood), with the same principal business activity (wood and wood products, furniture, paper and paper products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Merino Panel Products Ltd | ₹524.23 Cr (FY 2020) | -3.0% | Kolkata, West Bengal, India | |||
| Advance Decorative Laminate Private Limited | ₹505.44 Cr (FY 2025) | 30.0% | Delhi, India | |||
| Globe Panel Industries India Private Limited | ₹429.35 Cr (FY 2025) | 12.0% | New Delhi, Delhi, India | |||
| Chaudhary Timber Industries Private Limited | ₹416.06 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Century Panels Limited | ₹396.03 Cr (FY 2025) | 6928.0% | Kolkata, West Bengal, India | |||
| Associate Decor Limitedthis company | ₹392.44 Cr (FY 2015) | ₹11.13 Cr | 2.8% | 30.0% | 294 | Malur, Karnataka, India |
| Crown Decor Private Limited | ₹389.02 Cr (FY 2024) | 15.0% | Sanand, Gujarat, India | |||
| Duroply Industries Limited | ₹372.73 Cr (FY 2025) | 15.0% | Kolkata, West Bengal, India | |||
| Amazon Wood Private Limited | ₹329.76 Cr (FY 2025) | 9.0% | Pune, Maharashtra, India | |||
| Hella Infra Market Wood Products Private Limited | ₹327.69 Cr (FY 2025) | Thane, Maharashtra, India |
To see the full peer comparison of Associate Decor Limited, buy the company report.
Auditor
Associate Decor Limited is audited by M A PARIKH & CO for the financial year 2015.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M A PARIKH & CO | FY 2015 | 107556W |
Shareholding
The shareholding of Associate Decor Limited is on record for FY 2015, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2015 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Associate Decor Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Feb 2017 | 100081896 | Others | ₹27 Cr | Open | |
| 30 Jun 2016 | 100042291 | Others | ₹5 Cr | Open | |
| 31 Mar 2016 | 100025471 | Others | ₹20 Cr | Open | |
| 26 Jun 2015 | 10578835 | Bank of Baroda | ₹11.4 Cr | Open | |
| 01 Aug 2013 | 10449167 | Corproation Bank | ₹32.78 Lakh | Open |
To see the full charge records of Associate Decor Limited, buy the company report.
Total charge records: 13 View all charges
Legal cases
Associate Decor Limited has 69 court cases on record: 28 filed by Associate Decor, 41 filed against it. 12 cases are pending and 57 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 37 | 21 | 0 |
| High courts | 22 | 11 | 7 |
| NCLAT | 5 | 5 | 3 |
| Supreme Court | 3 | 2 | 1 |
| NCLT | 2 | 2 | 1 |
Cases on record (5 of 69)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Writ petition | Filed by the company against Bangalore Electricity Supply Company Limited and 3 others | Pending |
| Supreme Court | Court case (1006-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Others) | Filed against the company by Shankeshwar Landmarks LLP Through Its Designated Partner No. 110/2, 1St Floor, Krishnappa Layout, Lalbagh Road ,Bangalore , Karnataka and 2 others | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Execution petition | Filed against the company by M/S. MFC Transport Pvt. Ltd. | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by M/S. MFC Transport Pvt. Ltd | Disposed |
| District court, BENGALURU, Karnataka | Execution petition | Filed by the company against M/S Union Roadways Ltd | Disposed |
To see the full case history of Associate Decor 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 Associate Decor Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Associate Decor Limited has a workforce of 294 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Associate Decor has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAKCS5136Q1ZI | Karnataka | Active | 01 Jul 2017 |
| 27AAKCS5136Q1ZM | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Associate Decor Limited, buy the company report.
Recent activity
Associate Decor Limited has 14 board changes on record since 2007: 10 appointments and 4 cessations. The latest: Farooq Ali Khan ceased to be Managing Director on 01 Sep 2016.
22 earlier events are in the company report.
Frequently asked questions
Associate Decor 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.
Associate Decor is a company under insolvency, formerly operating as a public limited company based in Malur, Karnataka, India. The company works in wood products and mdf, within the manufacturing industry. It was incorporated on 17 January 2007 and is registered under CIN U20213KA2007PLC041502. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Associate Decor has 9 current directors:
- Yahya Mohamed Farouk Darvesh - Director
- Mohamed Farouk Suleman Darvesh - Director
- Srichand Satramdas Agicha - Director
- Nooruddin Khan - Director
- Himayath Ali Khan - Director
- Ebrahim Suleman Darvesh - Director
- Farooq Ali Khan - Director
- Sidarrtha Agicha - Director
- Manoharlal Satramdas Agicha - Director
The latest financial statements of Associate Decor on record with the MCA are for the year ended 31 March 2015. Its last annual general meeting was held on 18 June 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Associate Decor is U20213KA2007PLC041502. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Associate Decor has open charges of ₹739.22 Cr and satisfied charges of ₹96 Cr as per latest MCA filings.
Associate Decor has 69 court cases on record: 28 filed by the company and 41 filed against it. 12 are pending. Most are in the district courts.
Associate Decor was incorporated on 17 January 2007. It is registered with the Registrar of Companies, Bangalore.
The peers of Associate Decor by revenue are Merino Panel Products Ltd, Advance Decorative Laminate Private Limited, Globe Panel Industries India Private Limited, Chaudhary Timber Industries Private Limited, Century Panels Limited and 4 more, all in the Manufacturing industry (Wood, MDF, Particle Board and Plywood), with the same principal business activity (wood and wood products, furniture, paper and paper products).
Farooq Ali Khan ceased to be Managing Director on 01 Sep 2016. Ashok Sunderdas Agicha ceased to be Director on 10 Apr 2016. Amit Bhandari was appointed as CFO on 18 Feb 2015. Associate Decor has 14 board changes on record in total.
Associate Decor can be reached through the website associatedecor.in. Its registered office is in Malur, Karnataka, India.