About Harita Seating Systems Limited
Data last updated:
Harita Seating Systems Limited was a public limited company based in Chennai, Tamil Nadu, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the auto parts and components segment of the automotive sector. It was incorporated on 24 April 1996.
The company was registered with the Registrar of Companies (ROC), Chennai, under CIN L27209TN1996PLC035293. Its GSTIN is 33AAACH2492N1ZF (Tamil Nadu). The company held 9 GST registrations, of which 3 are active. It is recorded as listed by MCA, but its shares were delisted from BSE on 03 Jan 2022 · merger, and no longer trade on a stock exchange.
The company had an authorised share capital of ₹10 Cr and a paid-up capital of ₹7.77 Cr. It was led by directors including Sasikala Varadachari and Bhadri Lakshminarasimhan.
Its last annual general meeting (AGM) was held on 25 September 2020, and its latest financial statements are for the year ended 31 March 2020. The registered office was at Jayalakshmi Estates No.29(8) Haddows Road, Chennai, Tamil Nadu, India – 600006.
As per the financials filed for FY 2020, the company reported a revenue of ₹352.07 Cr, a decline of 24% compared to the previous year. For the same year it recorded a net profit of ₹24.76 Cr (net margin 7%) and EBITDA of ₹51.42 Cr (EBITDA margin 14.6%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 5% over five years.
The company had about 651 employees on its provident fund (EPFO) records before it was dissolved. Its group structure included 1 subsidiary.
The company was associated with 2 brands: Harita Seating Systems and Harita Seating. As per MCA filings, the company had satisfied charges of ₹113.5 Cr on record. Court records list 27 cases involving the company, including 17 filed by the company and 10 filed against it; 1 case is pending. The company has 23 deals on record (20 market trades, 1 acquisition, 1 funding round), with disclosed funding of ₹4.92 Cr; the latest was in April 2021.
The last known website on record is haritaseating.com.
Company details
CIN history
Harita Seating Systems has one previous CIN (Corporate Identification Number): U27209TN1996PLC035293. The current CIN is L27209TN1996PLC035293, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L27209TN1996PLC035293 | Current |
| U27209TN1996PLC035293 | Previous |
Contact details
Harita Seating Systems Limited's registered office is in Chennai, Tamil Nadu. Its website is haritaseating.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressJayalakshmi Estates No.29(8) Haddows Road, Chennai, Tamil Nadu, India – 600006
- IndustryAutomotive, Auto Parts & Components
To see the full contact details of Harita Seating Systems 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
Harita Seating Systems operates two associated brands: Harita Seating Systems and Harita Seating. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Bus passenger seats and commercial vehicle driver seats are manufactured. | haritaseating.com | |
| Seating solutions for vehicles are manufactured in Chennai, India. | haritaseating.net |
Business activity
The main business activity of Harita Seating Systems is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Harita Seating Systems Limited, buy the company report.
Financials of Harita Seating Systems Limited
FY 2020 filings availableHarita Seating Systems Limited reported revenue of ₹352.07 Cr (down 24% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR)
Revenue fell 24% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 5%. EBITDA fell 33% 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 | ₹352.07 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹51.42 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹24.76 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 | 14.6% | ||||
| Net Profit Margin | 7% | ||||
| 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 Harita Seating Systems Limited, buy the company report.
Board of directors and KMP of Harita Seating Systems Limited
Harita Seating Systems Limited currently reports 5 directors and 1 key managerial person. 9 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sasikala Varadachari | Director | 22 Mar 2016 | 10 Years 7 Months | As last reported |
| Bhadri Lakshminarasimhan Also directs: Guru & Ram LLP | Director | 13 Oct 2015 | 11 Years 0 Months | As last reported |
| Harihara Iyer Lakshmanan | Director | 24 Apr 1996 | 30 Years 6 Months | As last reported |
| Narasimha Prasad Chundi Also directs: Hnti Limited, TVS Training and Services Limited | Director | 23 Apr 2008 | 18 Years 6 Months | As last reported |
| Angarai Ganesan Giridharan | Ceo | 03 Nov 2014 | 11 Years 11 Months | As last reported |
| Shamsudeen Ibrahim Jaffar Ali | Director | 22 Jan 1997 | 29 Years 9 Months | As last reported |
Auditor
Harita Seating Systems Limited is audited by RAGHAVAN CHAUDHURI & NARAYANAN for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAGHAVAN CHAUDHURI & NARAYANAN | FY 2020 | 007761S |
Shareholding
The shareholding of Harita Seating Systems 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 Harita Seating Systems Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Jun 2013 | 10435418 | State Bank of Mysore | ₹5 Cr | Satisfied | |
| 18 Aug 2009 | 10173674 | State Bank of Mysore | ₹10 Cr | Satisfied | |
| 26 Mar 2009 | 10153309 | State Bank of Mysore | ₹10 Cr | Satisfied | |
| 23 Feb 2009 | 10148251 | State Bank of Mysore | ₹65 Cr | Satisfied | |
| 03 Jul 2008 | 10118846 | Hdfc Bank Limited | ₹5.5 Cr | Satisfied |
To see the full charge records of Harita Seating Systems Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Harita Seating Systems Limited has 23 deals on record (20 market trades, 1 acquisition, 1 funding round), with disclosed funding of ₹4.92 Cr; the latest was in April 2021.
Deals on record (5 of 23)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2021 | Acquisition | Undisclosed | Buyer: Uno Minda Limited |
| Jan 2021 | Secondary share transfer | Undisclosed | Buyer: Harita Limited Seller: an individual |
| Jan 2021 | Market trade | ₹55.9 Cr | Buyer: Harita Limited Seller: an individual |
| Jan 2021 | Market trade | ₹59.92 Cr | Buyer: Harita Limited , Rajasthan Global Securities Private Limited Seller: 3 Sigma Global Fund, an individual |
| Jan 2021 | Market trade | ₹5.44 Cr | Buyer: Rajasthan Global Securities Private Limited Seller: 3 Sigma Global Fund |
To see the full deal history of Harita Seating Systems 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
Harita Seating Systems Limited has 27 court cases on record: 17 filed by Harita Seating Systems, 10 filed against it. 1 case is pending and 26 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 15 | 6 | 1 |
| District courts | 10 | 3 | 0 |
| Supreme Court | 2 | 1 | 0 |
Cases on record (5 of 27)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TAMIL NADU | Company petition | Filed by the company against Om Shakthi Travels (P) Ltd., | Disposed |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by Principal Commissioner of | Pending |
| District court, Rangareddy, Telangana | Petition | Filed against the company by individuals | Disposed |
| District court, Coimbatore, Tamil Nadu | Petition | Filed against the company by an individual | Disposed |
| High Court, TAMIL NADU | Revision petition | Filed against the company by an individual | Disposed |
To see the full case history of Harita Seating Systems 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 Harita Seating Systems Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Harita Seating Systems has 1 subsidiary company. This group structure data is as of FY 2020. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Harita Fehrer Limited | U25200TN2008PLC068513 |
To see the full group structure of Harita Seating Systems Limited, buy the company report.
Employees & EPFO
Harita Seating Systems Limited has a workforce of 651 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
Harita Seating Systems has 9 GST registrations: 3 active and 6 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACH2492N1ZF | Tamil Nadu | Active | 01 Jul 2017 |
| 05AAACH2492N1ZE | Uttarakhand | Active | 01 Jul 2017 |
| 20AAACH2492N1ZM | Jharkhand | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Harita Seating Systems Limited, buy the company report.
Recent activity
Harita Seating Systems Limited has 16 board changes on record since 1996: 11 appointments and 5 cessations. The latest: Martin Grammer ceased to be Director on 02 Dec 2020.
22 earlier events are in the company report.
Frequently asked questions
Harita Seating Systems 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.
Harita Seating Systems was a public limited company based in Chennai, Tamil Nadu, India. The company worked in auto parts and components, within the automotive industry. It was incorporated on 24 April 1996 and is registered under CIN L27209TN1996PLC035293. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Harita Seating Systems was incorporated on 24 April 1996. It is registered with the Registrar of Companies, Chennai.
Harita Seating Systems had 6 directors and KMP:
- Sasikala Varadachari - Director
- Bhadri Lakshminarasimhan - Director
- Harihara Iyer Lakshmanan - Director
- Narasimha Prasad Chundi - Director
- Shamsudeen Ibrahim Jaffar Ali - Director
- Angarai Ganesan Giridharan - Ceo
The CIN (Corporate Identification Number) of Harita Seating Systems is L27209TN1996PLC035293. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Harita Seating Systems is recorded as a listed company by MCA, but its shares were delisted from BSE on 03 Jan 2022 · merger, and no longer trade on a stock exchange.
The registered office of Harita Seating Systems is at Jayalakshmi Estates No.298 Haddows Road, Chennai, Tamil Nadu, India – 600006.
Harita Seating Systems can be reached through the website haritaseating.com. Its registered office is in Chennai, Tamil Nadu, India.
The latest financial statements of Harita Seating Systems on record with the MCA are for the year ended 31 March 2020. Its last annual general meeting was held on 25 September 2020. Year-wise statements from 2015 are in the company report.
The GSTIN of Harita Seating Systems is 33AAACH2492N1ZF, registered in Tamil Nadu. The company has 9 GST registrations in all, of which 3 are active and 6 are cancelled or inactive. Other active GSTINs include 05AAACH2492N1ZE (Uttarakhand), 20AAACH2492N1ZM (Jharkhand).
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
