About Garware Bestretch Limited
Data last updated:
Garware Bestretch Limited was a public limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Garware Holdings Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the rubber-based products segment of the manufacturing sector. It was incorporated on 12 October 1994.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U24130MH1994PLC142451. Its GSTIN is 27AABCG8082C1ZP (Maharashtra).
The company had an authorised share capital of ₹17 Cr and a paid-up capital of ₹5.61 Cr. It was formerly known as Bestretch Elastomers International Limited. It was led by directors including Diya Garware Ibanez (Managing Director) and Sudhir Rajaram Pitre (Whole-Time Director).
Its last annual general meeting (AGM) was held on 21 September 2020, and its latest financial statements are for the year ended 31 March 2020. The registered office was at Mumbai, Maharashtra.
As per the financials filed for FY 2020, the company reported a revenue of ₹322.88 Cr, a growth of 3% compared to the previous year. For the same year it recorded a net profit of ₹75.72 Cr (net margin 23.5%) and EBITDA of ₹110.45 Cr (EBITDA margin 34.2%). Revenue has grown at a compounded annual rate (CAGR) of 10% over three years and 7% over five years.
The company had about 140 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Garware Bestretch. As per MCA filings, the company had satisfied charges of ₹129.95 Cr on record. Court records list 2 cases involving the company, including 2 filed against it. The company has 14 deals on record (11 secondary share transfers, 2 funding rounds, 1 rights issue), with disclosed funding of ₹7.93 Cr; the latest was in February 2020. Its 7 peer companies in the Manufacturing industry (Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 4 larger and 3 smaller; the largest is Elgi Rubber Company Limited with revenue of ₹408.86 Cr.
The last known website on record is garwarebeil.com.
Company details
CIN history
Garware Bestretch has one previous CIN (Corporate Identification Number): U24130MH2003PLC142451. The current CIN is U24130MH1994PLC142451, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24130MH1994PLC142451 | Current |
| U24130MH2003PLC142451 | Previous |
Contact details
Garware Bestretch Limited's registered office is in Mumbai, Maharashtra. Its website is garwarebeil.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2 – A(3) Maker Bhavan II Plot No. 18 New Marine Lines Cs No. 1433 Division, Fort, Mumbai, Maharashtra, India – 400020
- IndustryManufacturing, Rubber-Based Products
To see the full contact details of Garware Bestretch 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
Garware Bestretch operates one associated brand: Garware Bestretch. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Contract manufacturing of plastic products is conducted for clients. | garwarebeil.com |
Business activity
The main business activity of Garware Bestretch is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Garware Bestretch Limited, buy the company report.
Financials of Garware Bestretch Limited
FY 2020 filings availableGarware Bestretch Limited reported revenue of ₹322.88 Cr (up 3% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 7% over five years, including 3% growth 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 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹322.88 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹110.45 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹75.72 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 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 34.2% | ||||
| Net Profit Margin | 23.5% | ||||
| 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 Garware Bestretch Limited, buy the company report.
Board of directors of Garware Bestretch Limited
Garware Bestretch has 5 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Praveen Purushottam Kadle Also directs: Garware Fulflex India Private Limited, Shivakrtih Realtors LLP, Veedol Corporation Limited and 5 more | Director | 21 Sep 2019 | 7 Years 1 Months | As last reported |
| Chhaya Manoj Palrecha Also directs: Universal Sompo General Insurance Company Limited | Director | 01 Sep 2015 | 11 Years 1 Months | As last reported |
| Diya Garware Ibanez | Managing Director | 04 Oct 2004 | 22 Years 0 Months | As last reported |
| Sudhir Rajaram Pitre Also directs: Leafland Agro Tourism Private Limited, Garware Fulflex India Private Limited, Suramex Private Limited and 2 more | Whole-Time Director | 04 Nov 2013 | 12 Years 11 Months | As last reported |
| Shreechandra Pandurang Raykar | Director | 16 Jun 2018 | 8 Years 4 Months | As last reported |
Peer comparison
Garware Bestretch Limited is compared with the 7 companies closest to it by revenue in the Manufacturing industry (Rubber Based Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Elgi Rubber Company Limited | ₹408.86 Cr (FY 2024) | Coimbatore, Tamil Nadu, India | ||||
| United Rubber Industries (India) Private Limited | ₹399.45 Cr (FY 2025) | 28.0% | Thane, Maharashtra, India | |||
| Woco Tech Polymere Kandla Limited | ₹368.15 Cr (FY 2025) | 0.0% | Kutch, Gujarat, India | |||
| Ador Poly-Containers Limited | ₹357.55 Cr (FY 2025) | 15.0% | Mumbai, Maharashtra, India | |||
| S J Rubber Industries Limited | ₹330.31 Cr (FY 2025) | -3.0% | New Delhi, Delhi, India | |||
| Garware Bestretch Limitedthis company | ₹322.88 Cr (FY 2020) | ₹75.72 Cr | 23.5% | 3.0% | 140 | Mumbai, Maharashtra, India |
| Polyrub Extrusions (India) Private Limited | ₹275.21 Cr (FY 2025) | -33.0% | Mumbai, Maharashtra, India | |||
| Ravasco Transmission and Packing Private Limited | ₹274.56 Cr (FY 2025) | -9.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Garware Bestretch Limited, buy the company report.
Auditor
Garware Bestretch Limited is audited by P G BHAGWAT for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| P G BHAGWAT | FY 2020 | 101118W |
Shareholding
The shareholding of Garware Bestretch Limited is on record for 3 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Garware Bestretch Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Jun 2016 | 100059896 | Others | ₹20.77 Lakh | Satisfied | |
| 13 Apr 2016 | 100029218 | Others | ₹8.35 Lakh | Satisfied | |
| 14 Mar 2016 | 100029369 | Others | ₹63 Lakh | Satisfied | |
| 16 Sep 2004 | 80010053 | Others | ₹75 Cr | Satisfied | |
| 30 Dec 2003 | 80025557 | Export-Import Bank of India | ₹7.7 Cr | Satisfied |
To see the full charge records of Garware Bestretch Limited, buy the company report.
Total charge records: 17 View all charges
Deals & funding
Garware Bestretch Limited has 14 deals on record (11 secondary share transfers, 2 funding rounds, 1 rights issue), with disclosed funding of ₹7.93 Cr; the latest was in February 2020.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2020 | Secondary share transfer | Undisclosed | Seller: Suramex Private Limited , an individual |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: Suramex Private Limited Seller: an individual |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Suramex Private Limited |
| Sep 2013 | Funding round | ₹26.9 Lakh | Investors: Garware Holdings Limited , Suramex Private Limited , 2 individuals |
| Sep 2013 | Secondary share transfer | Undisclosed | Buyer: Garware Holdings Limited Seller: RSDV Investments Private Limited , Garware Securities Broking Limited , Ceebeegee Investment Co. Pvt. Ltd. |
To see the full deal history of Garware Bestretch 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
Garware Bestretch Limited has 2 court cases on record: 2 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 2 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Civil suit | Filed against the company by Manmit Investments and Trading Co. Pvt. Ltd. and 5 others | Disposed |
| District court, Pune, Maharashtra | Civil suit | Filed against the company by Moonshine Investments and Trading Co. Pvt. Ltd. and 5 others | Disposed |
To see the full case history of Garware Bestretch 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 Garware Bestretch Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Garware Bestretch Limited has a workforce of 140 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
Garware Bestretch has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCG8082C1ZP | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Garware Bestretch Limited, buy the company report.
Recent activity
Garware Bestretch Limited has 19 board changes on record since 2004: 5 appointments and 14 cessations. The latest: Juan Ibanez ceased to be Managing Director on 01 Nov 2020.
48 earlier events are in the company report.
Frequently asked questions
Garware Bestretch has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Garware Bestretch was a public limited company based in Mumbai, Maharashtra, India. The company worked in rubber-based products, within the manufacturing industry. It was incorporated on 12 October 1994 and is registered under CIN U24130MH1994PLC142451. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Garware Bestretch was incorporated on 12 October 1994. It is registered with the Registrar of Companies, Mumbai.
Garware Bestretch had 5 directors:
- Diya Garware Ibanez - Managing Director
- Sudhir Rajaram Pitre - Whole-Time Director
- Praveen Purushottam Kadle - Director
- Chhaya Manoj Palrecha - Director
- Shreechandra Pandurang Raykar - Director
The CIN (Corporate Identification Number) of Garware Bestretch is U24130MH1994PLC142451. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Garware Bestretch is at 2 – A3 Maker Bhavan II Plot No. 18 New Marine Lines Cs No. 1433 Division, Fort, Mumbai, Maharashtra, India – 400020.
Garware Bestretch can be reached through the website garwarebeil.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Garware Bestretch on record with the MCA are for the year ended 31 March 2020. Its last annual general meeting was held on 21 September 2020. Year-wise statements from 2015 are in the company report.
The GSTIN of Garware Bestretch is 27AABCG8082C1ZP, registered in Maharashtra.
Garware Bestretch operated in the manufacturing industry, in the rubber-based products segment.
Garware Bestretch has 14 deals on record (11 secondary share transfers, 2 funding rounds, 1 rights issue), with disclosed funding of ₹7.93 Cr; the latest was in February 2020.