Palar Home Textiles Private Limited
About Palar Home Textiles Private Limited
Data last updated:
Palar Home Textiles Private Limited is a private limited company based in Chennai, Tamil Nadu, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 04 May 1994.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U51900TN1994PTC101401. Its GSTIN is 33AAACI1042D1ZF (Tamil Nadu).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹40 Lakh. It was formerly known as Indokem Overseas Limited. It is led by directors including Bharat Bir Mohindra and Rashmi Mohindra.
Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Chennai, Tamil Nadu.
As per the financials filed for FY 2023, the company reported a revenue of ₹33,437. For the same year it recorded a net loss of ₹42.87 Lakh and EBITDA of -₹35.59 Lakh. Revenue has declined at a compounded annual rate (CAGR) of 33% over five years.
As per MCA filings, the company has satisfied charges of ₹4.25 Cr on record. Court records list 3 cases involving the company, including 2 filed by the company and 1 filed against it.
Company details
Name history
Palar Home Textiles has undergone 3 name changes throughout its history. The company was previously known as Indokem Overseas Limited, Palar Home Textiles Private Limited, and Palar Home Textiles Limited. The current legal name is Palar Home Textiles Private Limited.
| Company Name | Status |
|---|---|
| Palar Home Textiles Private Limited | Current |
| Indokem Overseas Limited | Previous |
| Palar Home Textiles Limited | Previous |
CIN history
Palar Home Textiles has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U51900TN1994PTC101401, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51900TN1994PTC101401 | Current |
| U51900MH1994PLC078191 | Previous |
| U51900TN1994PLC101401 | Previous |
Contact details
Palar Home Textiles Private Limited's registered office is in Chennai, Tamil Nadu. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressNo.3 Second Floor Salzburg Square Building 107 (Opp To Shoppers Stop) Harrington Ro, Ad Chetpet, Chennai, Tamil Nadu, India – 600031
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Palar Home Textiles 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 Palar Home Textiles 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 Palar Home Textiles Private Limited, buy the company report.
Financials of Palar Home Textiles Private Limited
FY 2023 filings availablePalar Home Textiles Private Limited reported revenue of ₹33,437 for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 33% over five years. EBITDA fell 956% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹33,437 | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹35.59 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹42.87 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | |||||
| Net Profit Margin | |||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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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 Palar Home Textiles Private Limited, buy the company report.
Board of directors of Palar Home Textiles Private Limited
Palar Home Textiles has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bharat Bir Mohindra | Director | 01 Apr 1997 | 29 Years 6 Months | As last reported |
| Rashmi Mohindra | Director | 23 Apr 2014 | 12 Years 6 Months | As last reported |
| Chitra Srinivas | Irp/Rp/Liquidator | 23 Jul 2024 | 2 Years 3 Months | As last reported |
Auditor
Palar Home Textiles Private Limited is audited by A.V. DEVEN & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A.V. DEVEN & CO | FY 2023 | 00726S |
Shareholding
The shareholding of Palar Home Textiles Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Palar Home Textiles Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Dec 1997 | 80039399 | Central Bank of India | ₹4.25 Cr | Satisfied |
To see the full charge records of Palar Home Textiles Private Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
Palar Home Textiles Private Limited has 3 court cases on record: 2 filed by Palar Home Textiles, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 1 | 0 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (S) | Filed by the company against Zen Linen International Private Limited and 5 others | Disposed |
| Bombay High Court | Court case (LPETN) | Filed by the company against an individual | Disposed |
| High Court, TAMIL NADU | Appeal | Filed against the company by individuals | Disposed |
To see the full case history of Palar Home Textiles 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Palar Home Textiles Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Palar Home Textiles Private Limited has 1 active EPFO establishment as of Apr 09, 2024.
GST
Palar Home Textiles has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAACI1042D1ZF | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Palar Home Textiles Private Limited, buy the company report.
Recent activity
Palar Home Textiles Private Limited has 7 board changes on record since 1997: 3 appointments and 4 cessations. The latest: Chitra Srinivas was appointed as Irp/Rp/Liquidator on 23 Jul 2024.
1 earlier event is in the company report.
Frequently asked questions
Palar Home Textiles is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Palar Home Textiles is a company under liquidation, formerly operating as a private limited company based in Chennai, Tamil Nadu, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 04 May 1994 and is registered under CIN U51900TN1994PTC101401. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Palar Home Textiles has 3 current directors:
- Bharat Bir Mohindra - Director
- Rashmi Mohindra - Director
- Chitra Srinivas - Irp/Rp/Liquidator
The latest financial statements of Palar Home Textiles on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Palar Home Textiles is U51900TN1994PTC101401. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Palar Home Textiles has no open charges and satisfied charges of ₹4.25 Cr as per latest MCA filings.
Palar Home Textiles has 3 court cases on record: 2 filed by the company and 1 filed against it.
Palar Home Textiles was incorporated on 04 May 1994. It is registered with the Registrar of Companies, Chennai.
Chitra Srinivas was appointed as Irp/Rp/Liquidator on 23 Jul 2024. Milind Vallabh Mungikar ceased to be Director on 29 Apr 2022. Asha Mahendra Khatau ceased to be Director on 23 Apr 2014. Palar Home Textiles has 7 board changes on record in total.
The registered office of Palar Home Textiles is at No.3 Second Floor Salzburg Square Building 107 Opp To Shoppers Stop Harrington Ro, Ad Chetpet, Chennai, Tamil Nadu, India – 600031.