About Innovative Textiles Limited
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Innovative Textiles Limited was a public limited company based in Delhi, India, operated as a subsidiary of Veena Enterprises 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 textile and fabric production segment of the manufacturing sector. It was incorporated on 17 September 1993.
The company was registered with the Registrar of Companies (ROC), Delhi, under CIN U74899DL1993PLC055266. Its GSTIN is 06AAACI0473J1ZQ (Haryana). The company held 3 GST registrations, of which 1 is active.
The company had an authorised share capital of ₹55.35 Cr and a paid-up capital of ₹54.03 Cr. It was formerly known as Innovative Textiles Private Limited. It was led by directors including Vydesh Ramkumar (Managing Director) and Ramjee Aruna.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at 81 Vigyan Vihar India, Delhi, India – 110092.
As per the financials filed for FY 2024, the company reported a revenue of ₹98.32 Cr, a decline of 31% compared to the previous year. For the same year it recorded a net loss of ₹20.49 Cr (net margin -20.8%) and EBITDA of -₹8.72 Cr (EBITDA margin -8.9%). Revenue has declined at a compounded annual rate (CAGR) of 4% over three years and 16% over five years.
The company had about 225 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Innovative Textiles. As per MCA filings, the company had satisfied charges of ₹533.14 Cr on record. Court records list 138 cases involving the company, including 72 filed by the company and 67 filed against it; 25 cases are pending. The company has 12 deals on record (7 secondary share transfers, 4 funding rounds, 1 rights issue), with disclosed funding of ₹45.21 Cr; the latest was in March 2023. Its 8 peer companies in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 3 larger and 5 smaller; the largest is Ganesh Laxmi Processors Private Limited with revenue of ₹98.75 Cr.
The last known website on record is innovativetextile.co.in.
Company details
CIN history
Innovative Textiles has one previous CIN (Corporate Identification Number): U74899DL1993PTC055266. The current CIN is U74899DL1993PLC055266, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74899DL1993PLC055266 | Current |
| U74899DL1993PTC055266 | Previous |
Contact details
Innovative Textiles Limited's registered office is in Delhi, Delhi. Its website is innovativetextile.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address81 Vigyan Vihar India, Delhi, India – 110092
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Innovative Textiles 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
Innovative Textiles operates one associated brand: Innovative Textiles. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Garments are manufactured on a contract basis by Innovative Textiles. | innovativetextiles.com |
Business activity
The main business activity of Innovative 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 Innovative Textiles Limited, buy the company report.
Financials of Innovative Textiles Limited
FY 2024 filings availableInnovative Textiles Limited reported revenue of ₹98.32 Cr (down 31% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 16% over five years, including a 31% fall in the latest year. EBITDA fell 393% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | -₹8.72 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹20.49 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -8.9% | ||||
| Net Profit Margin | -20.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Innovative Textiles Limited, buy the company report.
Board of directors of Innovative Textiles Limited
Innovative Textiles has 3 current directors and 21 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramjee Aruna | Director | 16 Jun 2023 | 3 Years 4 Months | As last reported |
| Vydesh Ramkumar Also directs: Link Up Textiles Private Limited | Managing Director | 07 Oct 2022 | 4 Years 0 Months | As last reported |
| Deepaksundaram Sundharam Also directs: Link Up Textiles Private Limited, Link Up Apparels Private Limited | Director | 29 Sep 2022 | 4 Years 0 Months | As last reported |
Peer comparison
Innovative Textiles Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Textiles), 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 |
|---|---|---|---|---|---|---|
| Ganesh Laxmi Processors Private Limited | ₹98.75 Cr (FY 2025) | 5.0% | Surat, Gujarat, India | |||
| Viking Textiles Private Limited | ₹98.58 Cr (FY 2025) | -6.0% | Tamil Nadu, India | |||
| Ramlaxman Synthetics Private Limited | ₹98.57 Cr (FY 2025) | 64.0% | Delhi, India | |||
| Innovative Textiles Limitedthis company | ₹98.32 Cr (FY 2024) | -₹20.49 Cr | -20.8% | -31.0% | 225 | Delhi, India |
| Jayalakshmi Spintex (India) Private Limited | ₹98.09 Cr (FY 2025) | 21.0% | Coimbatore, Tamil Nadu, India | |||
| Sulzer Processors Private Limited | ₹98.03 Cr (FY 2025) | -12.0% | Bhilwara, Rajasthan, India | |||
| Maa Padmavati Fabrics India Private Limited | ₹97.88 Cr (FY 2020) | 58.0% | Ichalkaranji, Maharashtra, India | |||
| Ajay Knitwears and Fabrics Private Limited | ₹97.73 Cr (FY 2025) | 4.0% | Ludhiana, Punjab, India | |||
| Sree Karpagambal Mills Limited | ₹97.71 Cr (FY 2025) | -9.0% | Ramnad, Tamil Nadu, India |
To see the full peer comparison of Innovative Textiles Limited, buy the company report.
Auditor
Innovative Textiles Limited is audited by Shiv & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Shiv & Associates | FY 2023 | 009989N |
Shareholding
The shareholding of Innovative Textiles 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 Innovative Textiles Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Jun 2022 | 100608919 | Indian Overseas Bank | ₹12 Lakh | Satisfied | |
| 25 Nov 2021 | 100513218 | Indian Overseas Bank | ₹7.4 Cr | Satisfied | |
| 21 Dec 2020 | 100404039 | Indian Overseas Bank | ₹10.52 Cr | Satisfied | |
| 15 Jul 2017 | 100115720 | Others | ₹11.55 Lakh | Satisfied | |
| 02 Jan 2016 | 10622521 | Indian Overseas Bank | ₹58.42 Cr | Satisfied |
To see the full charge records of Innovative Textiles Limited, buy the company report.
Total charge records: 13 View all charges
Deals & funding
Innovative Textiles Limited has 12 deals on record (7 secondary share transfers, 4 funding rounds, 1 rights issue), with disclosed funding of ₹45.21 Cr; the latest was in March 2023.
Deals on record (5 of 12)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: Link Up Textiles Private Limited , 2 individuals Seller: Grafax Knitwears Limited |
| Sep 2022 | Funding round | ₹10.68 Cr | Investors: Link Up Textiles Private Limited |
| Sep 2018 | Secondary share transfer | Undisclosed | Buyer: Grafax Knitwears Limited Seller: 4 individuals |
| Aug 2018 | Rights issue | ₹4.45 Cr | Investors: M I Textiles Pte Limited, Grafax Knitwears Limited |
| Mar 2010 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Grafax Knitwears Limited |
To see the full deal history of Innovative Textiles 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
Innovative Textiles Limited has 138 court cases on record: 72 filed by Innovative Textiles, 67 filed against it. 25 cases are pending and 113 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 90 | 40 | 22 |
| High courts | 27 | 19 | 3 |
| Supreme Court | 10 | 2 | 0 |
| NCLT | 10 | 5 | 0 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 138)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Civil suit | Filed against the company by M/S Micromole Ionics Pvt. Ltd. - Through Its Autho. Signatory Mr. Hasmukhbhai J. Barot | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed against the company by Messers Gurjar Gravures Private Limited Through Rashesh Dave | Disposed |
| High Court of Gujarat | Special civil application | Filed against the company by Gurjar Gravures Private Limited | Disposed |
| High Court, GUJARAT | Special civil application | Filed against the company by Gurjar Gravures Private Limited | Disposed |
| District court, West, Delhi | Execution petition | Filed against the company by Abhishek Green Chem Pvt Ltd | Disposed |
To see the full case history of Innovative Textiles 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
Innovative Textiles Limited was last rated by Crisil on 29 Jun 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 29 Jun 2020 |
To see the full credit ratings and regulatory alerts of Innovative Textiles Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Innovative Textiles Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Innovative Textiles Limited has a workforce of 225 employees on its EPFO records as of Apr 07, 2024, across 3 active EPFO establishments.
GST
Innovative Textiles has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAACI0473J1ZQ | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Innovative Textiles Limited, buy the company report.
Recent activity
Innovative Textiles Limited has 17 board changes on record since 2006: 3 appointments and 14 cessations. The latest: Deepaksundaram Sundharam ceased to be Additional Director on 29 Sep 2023.
39 earlier events are in the company report.
Frequently asked questions
Innovative Textiles 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.
Innovative Textiles was a public limited company based in Delhi, India. The company worked in textile and fabric production, within the manufacturing industry. It was incorporated on 17 September 1993 and is registered under CIN U74899DL1993PLC055266. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Innovative Textiles was incorporated on 17 September 1993. It is registered with the Registrar of Companies, Delhi.
Innovative Textiles had 3 directors:
- Vydesh Ramkumar - Managing Director
- Ramjee Aruna - Director
- Deepaksundaram Sundharam - Director
The CIN (Corporate Identification Number) of Innovative Textiles is U74899DL1993PLC055266. 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 Innovative Textiles is at 81 Vigyan Vihar India, Delhi, India – 110092.
Innovative Textiles can be reached through the website innovativetextile.co.in. Its registered office is in Delhi, India.
The latest financial statements of Innovative Textiles on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Innovative Textiles is 06AAACI0473J1ZQ, registered in Haryana. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
Innovative Textiles operated in the manufacturing industry, in the textile and fabric production segment.
Innovative Textiles has 12 deals on record (7 secondary share transfers, 4 funding rounds, 1 rights issue), with disclosed funding of ₹45.21 Cr; the latest was in March 2023.