About First Flight Couriers Limited
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First Flight Couriers Limited is a public 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 express logistics segment of the transport and logistics sector. It was incorporated on 02 May 1988.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U64100MH1988PLC047228. Its GSTIN is 05AAACF0841R1ZJ (Uttarakhand). The company holds 10 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹16.27 Cr. It was formerly known as First Flight Couriers P Limited. It is led by directors including Omprakash Motilal Saboo (Whole-Time Director) and Sharmeela Omprakash Saboo.
Its last annual general meeting (AGM) was held on 29 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at 02 Lotus Corporate Park, Mumbai, Maharashtra.
As per the financials filed for FY 2017, the company reported a revenue of ₹337.04 Cr, a decline of 23% compared to the previous year. For the same year it recorded a net loss of ₹61.04 Cr (net margin -18.1%) and EBITDA of -₹57.58 Cr (EBITDA margin -17.1%).
The company has about 26 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: First Flight Couriers. As per MCA filings, the company has open charges of ₹20 Cr and satisfied charges of ₹103.36 Cr on record. Court records list 340 cases involving the company, including 130 filed by the company and 210 filed against it; 18 cases are pending. The company has 14 deals on record (10 secondary share transfers, 4 funding rounds), with disclosed funding of ₹103.28 Cr; the latest was in August 2014.
The last known website on record is firstflight.net.
Company details
Contact details
First Flight Couriers Limited's registered office is in Mumbai, Maharashtra. Its website is firstflight.net. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressG – 1001/ 02 Lotus Corporate Park Off Jay Coach Flyover Western Express Highway Gorega, On (East), Mumbai, Maharashtra, India – 400063
- IndustryTransport and Logistics, Express Logistics
To see the full contact details of First Flight Couriers 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
First Flight Couriers operates one associated brand: First Flight Couriers. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Multi-modal freight forwarding services are provided for global courier packages. | firstflight.net |
Business activity
The main business activity of First Flight Couriers is transport and storage. In detail, this covers postal & courier activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H7 | Postal & Courier activities |
To see the full business activity and turnover split of First Flight Couriers Limited, buy the company report.
Financials of First Flight Couriers Limited
FY 2017 filings availableFirst Flight Couriers Limited reported revenue of ₹337.04 Cr (down 23% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue fell 23% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | ₹337.04 Cr | ||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | -₹57.58 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | -₹61.04 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 | |||
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Financial Ratios
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | -17.1% | ||
| Net Profit Margin | -18.1% | ||
| Return on Equity (ROE) | |||
| Return on Capital Employed (ROCE) | |||
| Return on Assets (ROA) | |||
| Liquidity and Debt | |||
| Current Ratio | |||
| Quick Ratio | |||
| Debt-to-Equity Ratio | |||
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| 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 First Flight Couriers Limited, buy the company report.
Board of directors of First Flight Couriers Limited
First Flight Couriers has 3 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Omprakash Motilal Saboo | Whole-Time Director | 21 Apr 2016 | 10 Years 6 Months | As last reported |
| Sharmeela Omprakash Saboo Also directs: Royal Stones International Private Limited, Planet Express Private Limited, Govind Overseas Limited and 5 more | Director | 16 Sep 2015 | 11 Years 1 Months | As last reported |
| Himmat Singh Lagad Also directs: Saarthi Greentech Private Limited, Eezee Box Solutions Private Limited, Cuber Supply Chain Solutions Private Limited and 3 more | Director | 25 Aug 2015 | 11 Years 1 Months | As last reported |
Auditor
First Flight Couriers Limited is audited by Borkar & Muzumdar for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Borkar & Muzumdar | FY 2017 | 101569W |
Shareholding
The shareholding of First Flight Couriers Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of First Flight Couriers Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 Aug 2005 | 80018113 | Yes Bank Limited | ₹20 Cr | Open | |
| 31 Dec 2015 | 10620587 | Religare Finvest Limited | ₹8.09 Cr | Satisfied | |
| 30 Dec 2014 | 10539057 | Religare Finvest Limited | ₹7.32 Cr | Satisfied | |
| 23 Nov 2011 | 10322708 | Yes Bank Limited | ₹20 Cr | Satisfied | |
| 27 Mar 2007 | 10043742 | Standard Chartered Bank | ₹10 Cr | Satisfied |
To see the full charge records of First Flight Couriers Limited, buy the company report.
Total charge records: 14 View all charges
Deals & funding
First Flight Couriers Limited has 14 deals on record (10 secondary share transfers, 4 funding rounds), with disclosed funding of ₹103.28 Cr; the latest was in August 2014.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Oct 2011 | Secondary share transfer | Undisclosed | Buyer: Royal Stones International Private Limited Seller: Velankani Securities Private Limited |
| Jan 2009 | Secondary share transfer | Undisclosed | Buyer: Kamla Fincap Private Limited Seller: Suresh Saboo (HUF), 2 individuals |
| May 2007 | Secondary share transfer | Undisclosed | Buyer: Bina Merchants Company Private Limited , Amachi Finance & Investment Private Limited Seller: Karuna Finvest Private Limited , Kalindi Infin Private Limited |
| Mar 2007 | Funding round | ₹77.4 Lakh | Investors: Sealegend Securities Private Limited , Kalindi Infin Private Limited , Karuna Finvest Private Limited |
To see the full deal history of First Flight Couriers Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
First Flight Couriers Limited has 340 court cases on record: 130 filed by First Flight Couriers, 210 filed against it. 18 cases are pending and 322 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 242 | 171 | 13 |
| High courts | 87 | 30 | 5 |
| Supreme Court | 6 | 4 | 0 |
| NCLT | 4 | 4 | 0 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 340)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, Chairperson Court | Tribunal matter | Filed against the company by Ms Altruist Customer Management India Pvt Ltd | Disposed |
| District court, New Delhi, Delhi | Execution petition | Filed by the company against Mirik Health Foods Pvt Ltd | Disposed |
| District court, Pune, Maharashtra | Court case (Reg.Sum.Suit) | Filed by the company against Green Works Commerce LLP Through Nandu Singh | Disposed |
| District court, Pune, Maharashtra | Court case (Spl.Sum.Suit) | Filed by the company against Amw Motors Ltd., Through Anirudh Bhuwalka | Disposed |
| District court, West, Delhi | Execution petition | Filed by the company against Go to Customer Services Pvt Ltd and 1 other | Disposed |
To see the full case history of First Flight Couriers 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 First Flight Couriers Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
First Flight Couriers Limited has a workforce of 26 employees on its EPFO records as of Apr 07, 2024, across 15 active EPFO establishments.
GST
First Flight Couriers has 10 GST registrations: 1 active and 9 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 05AAACF0841R1ZJ | Uttarakhand | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of First Flight Couriers Limited, buy the company report.
Recent activity
First Flight Couriers Limited has 19 board changes on record since 2008: 3 appointments and 16 cessations. The latest: Himmat Singh Lagad ceased to be Director on 13 Aug 2018.
41 earlier events are in the company report.
Frequently asked questions
First Flight Couriers 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.
First Flight Couriers is a company under insolvency, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in express logistics, within the transport and logistics industry. It was incorporated on 02 May 1988 and is registered under CIN U64100MH1988PLC047228. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
First Flight Couriers has 3 current directors:
- Omprakash Motilal Saboo - Whole-Time Director
- Sharmeela Omprakash Saboo - Director
- Himmat Singh Lagad - Director
The latest financial statements of First Flight Couriers on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 29 September 2017. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of First Flight Couriers is U64100MH1988PLC047228. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
First Flight Couriers has open charges of ₹20 Cr and satisfied charges of ₹103.36 Cr as per latest MCA filings.
First Flight Couriers has 340 court cases on record: 130 filed by the company and 210 filed against it. 18 are pending. Most are in the district courts.
First Flight Couriers was incorporated on 02 May 1988. It is registered with the Registrar of Companies, Mumbai.
First Flight Couriers has 14 deals on record (10 secondary share transfers, 4 funding rounds), with disclosed funding of ₹103.28 Cr; the latest was in August 2014.
Himmat Singh Lagad ceased to be Director on 13 Aug 2018. Bharat Jamnadas Thakkar ceased to be Additional Director on 29 Sep 2017. Suresh Shyamlal Saboo ceased to be Director on 11 Jan 2017. First Flight Couriers has 19 board changes on record in total.