Itares Shoes Private Limited

Itares Shoes Private Limited - consumer goods in Chennai, Tamil Nadu, India. FY 2026 financials & compliance.
CIN U19201TN2006PTC060594 Incorporated 19 July 2006 ROC Chennai HQ Chennai, Tamil Nadu, India
Active Private Limited Company consumer goods MSME
Revenue · FY 2024
₹198.28 Cr
▲ 14% YoY
Net profit · FY 2024
₹12.51 Cr
Net margin 6.3%
EBITDA · FY 2024
₹17.99 Cr
EBITDA margin 9.1%
Authorised capital
₹10 Cr
Registered with MCA
Paid-up capital
₹8.54 Cr
Issued & subscribed
Open charges
₹40 Cr
Satisfied ₹15.75 Cr
Company age
20 yrs
Est. 2006
Employees · EPFO
1,114
Provident fund records

About Itares Shoes Private Limited

Data last updated:

Itares Shoes Private Limited is a private limited company based in Chennai, Tamil Nadu, India. It operates in the footwear manufacturing segment of the consumer goods sector. It was incorporated on 19 July 2006 and has been in existence for over 20 years.

The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U19201TN2006PTC060594. Its GSTIN is 33AABCI6037R1Z8 (Tamil Nadu).

The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹8.54 Cr. It is led by directors Bangi Mohammed Ifthikar and Giorgio Marcoaldi.

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 is at Chennai, Tamil Nadu.

As per the financials filed for FY 2024, the company reported a revenue of ₹198.28 Cr, a growth of 14% compared to the previous year. For the same year it recorded a net profit of ₹12.51 Cr (net margin 6.3%) and EBITDA of ₹17.99 Cr (EBITDA margin 9.1%). Revenue has declined at a compounded annual rate (CAGR) of 5% over three years and 6% over five years.

The company has about 1,114 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Itares Shoes. As per MCA filings, the company has open charges of ₹40 Cr and satisfied charges of ₹15.75 Cr on record. Court records list 14 cases involving the company, including 7 filed by the company and 7 filed against it; 3 cases are pending. The company has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹8.53 Cr; the latest was in June 2017. Its 5 peer companies in the Consumer Products industry (Footwear Manufacturers), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 1 larger and 4 smaller; the largest is Mohib Shoes Private Limited with revenue of ₹214.67 Cr.

Itares Shoes Private Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-TN-02-0041985). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website itaresshoes.com.

Company details

CIN U19201TN2006PTC060594
Registration Number 060594
Incorporation Date 19 July 2006
ROC Chennai
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-TN-02-0041985
Key People
Bangi Mohammed Ifthikar Director Giorgio Marcoaldi Director

Recognitions & Rankings of Itares Shoes

MSME (Udyam registered) Ministry of MSME
Udyam number
UDYAM-TN-02-0041985

Contact details

Itares Shoes Private Limited's registered office is in Chennai, Tamil Nadu. Its website is itaresshoes.com. Its e-mail address is in the company report.

  • Email
  • Website
    itaresshoes.com
  • Registered Address
    No.32 First Floor Hyder Garden 3rd Street Perambur Barrac, Ks, Chennai, Tamil Nadu, India – 600012
  • Industry
    Consumer Goods, Footwear Manufacturing

To see the full contact details of Itares Shoes Private Limited, buy the company report.

Comprehensive company report
Itares Shoes Private Limited - one report that includes everything
  • 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
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Brands

Itares Shoes operates one associated brand: Itares Shoes. Each brand links to its own profile.

BrandDescriptionWebsite
Itares Shoes
Brand of multi category footwear for women and menitaresshoes.com

Business activity

The main business activity of Itares Shoes is manufacturing. In detail, this covers textile, leather and other apparel products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC2Textile, leather and other apparel products

To see the full business activity and turnover split of Itares Shoes Private Limited, buy the company report.

Financials of Itares Shoes Private Limited

FY 2024 filings available

Itares Shoes Private Limited reported revenue of ₹198.28 Cr (up 14% YoY) for FY 2024.

Revenue · FY 2024
₹198.28 Cr ▲ 14%
Net profit · FY 2024
₹12.51 Cr margin 6.3%
EBITDA · FY 2024
₹17.99 Cr margin 9.1%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 14%
3 years · compounded
▼ 5%
5 years · compounded
▼ 6%
EBITDA CAGR growth
1 year
▲ 34%
3 years · compounded
▲ 17%
5 years · compounded
▼ 16%

Revenue rose 14% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 6%. EBITDA rose 34% 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

MetricsFY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Profit and Loss Statement
Revenue from Operations
Other Income
Total Revenue
Cost of Materials Consumed
Employee Benefit Expense
Finance Costs
Depreciation and Amortisation
Other Expenses
Total Expenses
EBITDA₹17.99 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹12.51 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

MetricsFY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Profitability
EBITDA Margin9.1%
Net Profit Margin6.3%
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 Itares Shoes Private Limited, buy the company report.

Board of directors of Itares Shoes Private Limited

Itares Shoes has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Bangi Mohammed Ifthikar
Also directs: Respoint Shoes Private Limited
Director11 Dec 200619 Years 11 MonthsCurrent
Giorgio Marcoaldi
Also directs: Respoint Shoes Private Limited
Director09 Nov 20215 Years 0 MonthsCurrent
View all directors

Peer comparison

Itares Shoes Private Limited is compared with the 5 companies closest to it by revenue in the Consumer Products industry (Footwear Manufacturers), with the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Mohib Shoes Private Limited₹214.67 Cr (FY 2023)10.0%Chennai, Tamil Nadu, India
Itares Shoes Private Limitedthis company₹198.28 Cr (FY 2024)₹12.51 Cr6.3%14.0%1,114Chennai, Tamil Nadu, India
Acme Universal Safezone 9 Limited₹195.33 Cr (FY 2025)8.0%Gwalior, Madhya Pradesh, India
Euro Safety Footwear (India) Limited₹186.84 Cr (FY 2025)32.0%Agra, Uttar Pradesh, India
Althaf Shoes Private Limited₹177.95 Cr (FY 2025)-8.0%Chennai, Tamil Nadu, India
A.R.V. Footwear Private Limited₹175.52 Cr (FY 2025)19.0%Delhi, India

To see the full peer comparison of Itares Shoes Private Limited, buy the company report.

Auditor

Itares Shoes Private Limited is audited by RAO & GOPAL for the financial year 2023.

Auditor firmFinancial yearFirm registration number
RAO & GOPALFY 20230003085S

Shareholding

The shareholding of Itares Shoes 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 categoryFY 2023FY 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Itares Shoes Private Limited, buy the company report.

Charges & borrowings

Open charges
₹40 Cr
Satisfied charges
₹15.75 Cr
Breakdown by lending institutions
Axis Bank Limited₹40.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
16 Jun 2020100351169Axis Bank Limited₹40 CrOpen
29 May 201410510512Deutsche Bank Ag₹9 CrSatisfied
23 Jul 201210367892The Royal Bank of Scotland N.V.₹3.75 CrSatisfied
22 Jun 201110292259The Royal Bank of Scotland N.V.₹3 CrSatisfied

To see the full charge records of Itares Shoes Private Limited, buy the company report.

Total charge records: 4 View all charges

Deals & funding

Itares Shoes Private Limited has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹8.53 Cr; the latest was in June 2017.

Total deals
3
Secondary share transfers
2
Funding round
1
Disclosed funding
₹8.53 Cr

Deals on record (3 of 3)

WhenDealAmountParties
Jun 2017Secondary share transferUndisclosedBuyer: 2 individuals
Seller: an individual
Aug 2008Funding round₹8.53 CrInvestors: an individual
Mar 2008Secondary share transferUndisclosedBuyer: 2 individuals
Seller: 2 individuals

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Itares Shoes Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

Employees & EPFO

Itares Shoes Private Limited has a workforce of 1,114 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.

Employee count
1,114
Active EPFO establishments
1
Employee growth
-1.4%

Headcount by financial year

Financial yearEmployees (EPFO)
FY 2026-271,114
FY 2025-26
FY 2024-25
FY 2023-24
FY 2022-23
FY 2021-22
FY 2020-21
FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17

To see the full employee and EPFO history of Itares Shoes Private Limited, buy the company report.

GST

Itares Shoes has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
33AABCI6037R1Z8Tamil NaduActive01 Jul 2017

To see the full GST registrations and return filing status of Itares Shoes Private Limited, buy the company report.

Recent activity

Itares Shoes Private Limited has 3 board changes on record since 2006: 2 appointments and 1 cessation. The latest: Germano Paccapelo ceased to be Director on 30 Nov 2021.

AGM
Itares Shoes Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Itares Shoes Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Chennai.
Ceased
Germano Paccapelo ceased to be Director.
Appointed
Giorgio Marcoaldi was appointed as Director.
Charges
A charge with Axis Bank Limited of Rs. 40.00 Cr registered on 16 Jun 2020 with Charge ID 100351169 was modified on 06 Jul 2020.
Charges
A charge with Axis Bank Limited amounted to Rs. 40.00 Cr with Charge ID 100351169 was registered on 16 Jun 2020.
Charges
A charge registered on 29 May 2014 via Charge ID 10510512 with Deutsche Bank Ag was fully satisfied on 18 Dec 2017.
Charges
A charge with Deutsche Bank Ag of Rs. 9.00 Cr registered on 29 May 2014 with Charge ID 10510512 was modified on 16 Jul 2015.
Charges
A charge with Deutsche Bank Ag amounted to Rs. 9.00 Cr with Charge ID 10510512 was registered on 29 May 2014.
Charges
A charge registered on 23 Jul 2012 via Charge ID 10367892 with The Royal Bank Of Scotland N.V. was fully satisfied on 18 Mar 2013.
Charges
A charge registered on 22 Jun 2011 via Charge ID 10292259 with The Royal Bank Of Scotland N.V. was fully satisfied on 18 Mar 2013.
Charges
A charge with The Royal Bank Of Scotland N.V. amounted to Rs. 3.75 Cr with Charge ID 10367892 was registered on 23 Jul 2012.

3 earlier events are in the company report.

Frequently asked questions

Itares Shoes is an active private limited company based in Chennai, Tamil Nadu, India. The company works in footwear manufacturing, within the consumer goods industry. It was incorporated on 19 July 2006 (20+ years old) and is registered under CIN U19201TN2006PTC060594.

Itares Shoes has 2 current directors:

The latest financial statements of Itares Shoes 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 Itares Shoes is 33AABCI6037R1Z8, registered in Tamil Nadu.

The CIN (Corporate Identification Number) of Itares Shoes is U19201TN2006PTC060594. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Itares Shoes has 14 court cases on record: 7 filed by the company and 7 filed against it. 3 are pending. Most are in the district courts.

Itares Shoes was incorporated on 19 July 2006, making it 20+ years old. It is registered with the Registrar of Companies, Chennai.

Itares Shoes has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹8.53 Cr; the latest was in June 2017.

The peers of Itares Shoes by revenue are Mohib Shoes Private Limited, Acme Universal Safezone 9 Limited, Euro Safety Footwear (India) Limited, Althaf Shoes Private Limited, A.R.V. Footwear Private Limited, all in the Consumer Products industry (Footwear Manufacturers), with the same principal business activity (textile, leather and other apparel products).

Germano Paccapelo ceased to be Director on 30 Nov 2021. Giorgio Marcoaldi was appointed as Director on 09 Nov 2021. Bangi Mohammed Ifthikar was appointed as Director on 11 Dec 2006.

Yes, Itares Shoes is registered as an MSME under Udyam registration (number: UDYAM-TN-02-0041985).