About Etco Denim Private Limited
Data last updated:
Etco Denim Private Limited is a private limited company based in Mumbai, 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 textile and fabric production segment of the manufacturing sector. It was incorporated on 21 April 2005.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U18109MH2005PTC152771. Its GSTIN is 27AABCE4897M1ZZ (Maharashtra). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹225 Cr and a paid-up capital of ₹175.51 Cr. It is led by directors Gajendra Bhupendra Sartanpara and Ramesh Dahyalal Shah.
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 S – 13 S – 14 Pinnacle Business Park Shanti Nagar MIDC Mahakali Caves Road, Mumbai, Maharashtra, India – 400093.
As per the financials filed for FY 2019, the company reported a revenue of ₹218.86 Cr, a decline of 30% compared to the previous year. For the same year it recorded a net loss of ₹49.3 Cr (net margin -22.5%) and EBITDA of -₹19.81 Cr (EBITDA margin -9.1%). Revenue has declined at a compounded annual rate (CAGR) of 10% over three years.
The company has about 18 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹389.12 Cr and satisfied charges of ₹237 Cr on record. Court records list 60 cases involving the company, including 18 filed by the company and 43 filed against it; 14 cases are pending.
The last known website on record is etco.in.
Company details
CIN history
Etco Denim has one previous CIN (Corporate Identification Number): U14100MH2005PTC152771. The current CIN is U18109MH2005PTC152771, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U18109MH2005PTC152771 | Current |
| U14100MH2005PTC152771 | Previous |
Contact details
Etco Denim Private Limited's registered office is in Mumbai, Maharashtra. Its website is etco.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressS – 13 S – 14 Pinnacle Business Park Shanti Nagar MIDC Mahakali Caves Road, Mumbai, Maharashtra, India – 400093
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Etco Denim 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 Etco Denim is manufacturing. In detail, this covers textile, leather and other apparel products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products |
To see the full business activity and turnover split of Etco Denim Private Limited, buy the company report.
Financials of Etco Denim Private Limited
FY 2019 filings availableEtco Denim Private Limited reported revenue of ₹218.86 Cr (down 30% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 10% over three years, including a 30% fall in the latest year. EBITDA rose 23% 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 | |||||
| Other Income | |||||
| Total Revenue | ₹218.86 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹19.81 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹49.3 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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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 | -9.1% | ||||
| Net Profit Margin | -22.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Etco Denim Private Limited, buy the company report.
Board of directors of Etco Denim Private Limited
Etco Denim has 2 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Gajendra Bhupendra Sartanpara | Director | 01 Oct 2014 | 12 Years 0 Months | As last reported |
| Ramesh Dahyalal Shah Also directs: Etco Industries Private Limited, Sea-Crest Developers Private Limited, Sai Etco Developers and Realty Private Limited and 3 more | Director | 21 Apr 2005 | 21 Years 6 Months | As last reported |
Peer comparison
Etco Denim Private Limited is compared with the 8 companies closest to it by revenue in the Apparel industry (Denim Wear), with the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Super Gold Suitings Private Limited | ₹369.32 Cr (FY 2025) | 27.0% | Bhilwara, Rajasthan, India | |||
| Nova Textiles Private Limited | ₹283.02 Cr (FY 2025) | -39.0% | Mumbai, Maharashtra, India | |||
| Signet Denim Private Limited | ₹242.2 Cr (FY 2025) | 20.0% | Bhilwara, Rajasthan, India | |||
| Partap Fabrics Private Limited | ₹236.54 Cr (FY 2025) | -10.0% | Ambala, Haryana, India | |||
| Etco Denim Private Limitedthis company | ₹218.86 Cr (FY 2019) | -₹49.3 Cr | -22.5% | -30.0% | 18 | Mumbai, Maharashtra, India |
| Sitaram Denims India Limited | ₹210.18 Cr (FY 2025) | 86.0% | Bhilwara, Rajasthan, India | |||
| Flu Jeans Private Limited | ₹203.88 Cr (FY 2025) | -2.0% | Delhi, India | |||
| Jeans Knit Private Limited | ₹193.25 Cr (FY 2025) | -15.0% | Bangalore, Karnataka, India | |||
| Shrerajlaxmi Denim Limited | ₹191.85 Cr (FY 2025) | 14.0% | Bhilwara, Rajasthan, India |
To see the full peer comparison of Etco Denim Private Limited, buy the company report.
Auditor
Etco Denim Private Limited is audited by B VITHALANI & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B VITHALANI & CO | FY 2019 | 119056W |
Shareholding
The shareholding of Etco Denim Private Limited is on record for 3 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Etco Denim Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Nov 2016 | 100077155 | Others | ₹20.83 Lakh | Open | |
| 22 Oct 2014 | 10533487 | Srei Equipment Finance Limited | ₹17.92 Lakh | Open | |
| 06 May 2014 | 10493375 | Corporation Bank | ₹141.99 Cr | Open | |
| 30 Dec 2013 | 10474649 | Others | ₹6.4 Lakh | Open | |
| 25 Mar 2013 | 10423687 | Corporation Bank | ₹6.97 Lakh | Open |
To see the full charge records of Etco Denim Private Limited, buy the company report.
Total charge records: 9 View all charges
Legal cases
Etco Denim Private Limited has 60 court cases on record: 18 filed by Etco Denim, 43 filed against it. 14 cases are pending and 46 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 33 | 25 | 8 |
| High courts | 20 | 15 | 4 |
| NCLAT | 5 | 2 | 2 |
| Supreme Court | 1 | 0 | 0 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 60)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, DHARWAD, Karnataka | Court case (IDact of S10 1d) | Filed against the company by Etco Denim Pvt Ltd, Vijayapur Workers Union, Vijayapur. R/By Jagadish Vittal Saktri. | Pending |
| District court, DHARWAD, Karnataka | Court case (IDact of S10 1d) | Filed by the company against Etco Denim Pvt Ltd, Aliyabad Industrial Area, 2Nd Stage Kiadb, Vijayapur. | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Private cases SS) | Filed by the company against Mahakali Fabrics Pvt. Ltd. and 2 others | Pending |
| NCLAT, Company Appeal(AT)(Ins) | Insolvency matter | Filed against the company by Mr. Ramesh Shah in Consortium With Masitia Capital Services Pvt. Ltd | Disposed |
| High Court of Karnataka | Writ petition | Filed against the company by Wadpack Private Limited | Disposed |
To see the full case history of Etco Denim 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.
Credit ratings & regulatory alerts
Etco Denim Private Limited was last rated by Care on 13 Sep 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 13 Sep 2021 |
To see the full credit ratings and regulatory alerts of Etco Denim Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Etco Denim Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Etco Denim Private Limited has a workforce of 18 employees on its EPFO records as of Apr 01, 2024, across 1 active EPFO establishment.
GST
Etco Denim has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCE4897M1ZZ | Maharashtra | Active | 01 Jul 2017 |
| 29AABCE4897M2ZU | Karnataka | Active | 06 Jul 2017 |
To see the full GST registrations and return filing status of Etco Denim Private Limited, buy the company report.
Recent activity
Etco Denim Private Limited has 7 board changes on record since 2005: 2 appointments and 5 cessations. The latest: Chhattar Kumar Goushal ceased to be Director on 26 Dec 2016.
11 earlier events are in the company report.
Frequently asked questions
Etco Denim 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.
Etco Denim is a company under insolvency, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 21 April 2005 and is registered under CIN U18109MH2005PTC152771. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Etco Denim has 2 current directors:
- Gajendra Bhupendra Sartanpara - Director
- Ramesh Dahyalal Shah - Director
The latest financial statements of Etco Denim 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 Etco Denim is U18109MH2005PTC152771. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Etco Denim has open charges of ₹389.12 Cr and satisfied charges of ₹237 Cr as per latest MCA filings.
Etco Denim has 60 court cases on record: 18 filed by the company and 43 filed against it. 14 are pending. Most are in the district courts.
Etco Denim was incorporated on 21 April 2005. It is registered with the Registrar of Companies, Mumbai.
The peers of Etco Denim by revenue are Super Gold Suitings Private Limited, Nova Textiles Private Limited, Signet Denim Private Limited, Partap Fabrics Private Limited, Sitaram Denims India Limited and 3 more, all in the Apparel industry (Denim Wear), with the same principal business activity (textile, leather and other apparel products).
Chhattar Kumar Goushal ceased to be Director on 26 Dec 2016. Gajendra Bhupendra Sartanpara ceased to be Additional Director on 30 Sep 2015. Gajendra Bhupendra Sartanpara was appointed as Director on 01 Oct 2014. Etco Denim has 7 board changes on record in total.
Etco Denim can be reached through the website etco.in. Its registered office is in Mumbai, Maharashtra, India.