KSM Spinning Mills Limited
About KSM Spinning Mills Limited
Data last updated:
KSM Spinning Mills Limited is a public limited company based in Ludhiana, Punjab, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 28 September 2004.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U17111PB2004PLC027528. Its GSTIN is 03AACCK9346C2ZS (Punjab). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹65 Cr and a paid-up capital of ₹61.76 Cr. It is led by directors including Sarish Mittal (Whole-Time Director) and Lovelish Mittal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2016, and its latest financial statements are for the year ended 31 March 2016. The registered office is at 644 Aggar Nagar B – Block, Ludhiana, Punjab, India – 141012.
As per the financials filed for FY 2016, the company reported a revenue of ₹56.42 Cr, a decline of 76% compared to the previous year. For the same year it recorded a net loss of ₹67.9 Cr (net margin -120.3%) and EBITDA of -₹42.35 Cr (EBITDA margin -75.1%).
The company has about 106 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹244.84 Cr and satisfied charges of ₹92.45 Cr on record. Court records list 139 cases involving the company, including 61 filed by the company and 78 filed against it; 21 cases are pending. The company has 29 deals on record (24 secondary share transfers, 5 funding rounds), with disclosed funding of ₹72.1 Cr; the latest was in March 2016. Its 4 peer companies in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 2 larger and 2 smaller; the largest is Deshraj Texturisers Pvt Ltd with revenue of ₹56.45 Cr.
Company details
CIN history
KSM Spinning Mills has one previous CIN (Corporate Identification Number): L17111PB2004PLC027528. The current CIN is U17111PB2004PLC027528, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U17111PB2004PLC027528 | Current |
| L17111PB2004PLC027528 | Previous |
Contact details
KSM Spinning Mills Limited's registered office is in Ludhiana, Punjab. Its e-mail address is in the company report.
- Email
- Registered Address644 Aggar Nagar B – Block, Ludhiana, Punjab, India – 141012
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of KSM Spinning Mills 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 KSM Spinning Mills 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 KSM Spinning Mills Limited, buy the company report.
Financials of KSM Spinning Mills Limited
FY 2016 filings availableKSM Spinning Mills Limited reported revenue of ₹56.42 Cr (down 76% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue fell 76% in the latest year. EBITDA fell 292% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ₹56.42 Cr | |
| Other Income | ||
| Total Revenue | ||
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | -₹42.35 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | -₹67.9 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 2015-16 | FY 2014-15 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -75.1% | |
| Net Profit Margin | -120.3% | |
| 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 KSM Spinning Mills Limited, buy the company report.
Board of directors of KSM Spinning Mills Limited
KSM Spinning Mills has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sarish Mittal Also directs: Kaur Sain Mittal Synthetics Limited, KSM Yarns Private Limited, VSL Textiles Private Limited and 1 more | Whole-Time Director | 13 Feb 2010 | 16 Years 8 Months | As last reported |
| Vipan Kumar | Director | 28 Sep 2004 | 22 Years 1 Months | As last reported |
| Lovelish Mittal | Whole-Time Director | 13 Feb 2010 | 16 Years 8 Months | As last reported |
Peer comparison
KSM Spinning Mills Limited is compared with the 4 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 |
|---|---|---|---|---|---|---|
| Deshraj Texturisers Pvt Ltd | ₹56.45 Cr (FY 2025) | -7.0% | Surat, Gujarat, India | |||
| Frendi Fashions Private Limited | ₹56.44 Cr (FY 2025) | -48.0% | Chennai, Tamil Nadu, India | |||
| KSM Spinning Mills Limitedthis company | ₹56.42 Cr (FY 2016) | -₹67.9 Cr | -120.3% | -76.0% | 106 | Ludhiana, Punjab, India |
| Suraj Dyeing and Printing Limited | ₹56.33 Cr (FY 2025) | 19.0% | Bhilwara, Rajasthan, India | |||
| Jay Khodiyar Cotton Private Limited | ₹56.32 Cr (FY 2023) | -41.0% | Mahuva, Gujarat, India |
To see the full peer comparison of KSM Spinning Mills Limited, buy the company report.
Shareholding
The shareholding of KSM Spinning Mills Limited is on record for 2 financial years, the latest being FY 2016, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2016 | FY 2015 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of KSM Spinning Mills Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 14 Mar 2015 | 10560874 | Corporation Bank | ₹7.5 Cr | Open | |
| 13 Aug 2014 | 10523246 | Bank of India | ₹15 Cr | Open | |
| 16 Jul 2014 | 10510744 | Idbi Bank Limited | ₹5 Cr | Open | |
| 26 Jun 2014 | 10511248 | Punjab National Bank | ₹25 Cr | Open | |
| 26 Jun 2014 | 10511247 | Punjab National Bank | ₹10 Cr | Open |
To see the full charge records of KSM Spinning Mills Limited, buy the company report.
Total charge records: 26 View all charges
Deals & funding
KSM Spinning Mills Limited has 29 deals on record (24 secondary share transfers, 5 funding rounds), with disclosed funding of ₹72.1 Cr; the latest was in March 2016.
Deals on record (5 of 29)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 3 individuals |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Kaur Sain Mittal Synthetics Limited , KSM Yarns Private Limited , 2 individuals Seller: 3 individuals |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: Kaur Sain Mittal Synthetics Limited , an individual Seller: 2 individuals |
| Mar 2014 | Funding round | ₹51.85 Cr | Investors: Vmsl Cottex Private Limited, 3 individuals |
| Mar 2013 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Kaur Sain Mittal Synthetics Limited , KSM Yarns Private Limited , 2 individuals |
To see the full deal history of KSM Spinning Mills 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
KSM Spinning Mills Limited has 139 court cases on record: 61 filed by KSM Spinning Mills, 78 filed against it. 21 cases are pending and 118 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 83 | 63 | 16 |
| High courts | 48 | 8 | 3 |
| NCLAT | 4 | 4 | 2 |
| Supreme Court | 3 | 2 | 0 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 139)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ludhiana, Punjab | Court case (CRR) | Filed by the company against Bank of Baroda | Pending |
| High Court, PUNJAB | Criminal miscellaneous application | Filed by the company against M/S Indian Acrylics Ltd and Another and 1 other | Disposed |
| District court, Ludhiana, Punjab | Execution petition | Filed against the company by Kotak Mahindra Bank Ltd | Disposed |
| District court, Chandigarh | Arbitration matter | Filed against the company by HDFC Bank Ltd. | Disposed |
| District court, New Delhi, Delhi | Criminal case | Filed against the company by Assets Care and Reconstruction Enterprise Ltd | Disposed |
To see the full case history of KSM Spinning Mills 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 KSM Spinning Mills Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
KSM Spinning Mills Limited has a workforce of 106 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
KSM Spinning Mills has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AACCK9346C2ZS | Punjab | Active | 03 Jun 2020 |
To see the full GST registrations and return filing status of KSM Spinning Mills Limited, buy the company report.
Recent activity
KSM Spinning Mills Limited has 10 board changes on record since 2004: 3 appointments and 7 cessations. The latest: Manju Mittal ceased to be Whole-Time Director on 30 Mar 2017.
50 earlier events are in the company report.
Frequently asked questions
KSM Spinning Mills is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
KSM Spinning Mills is a company under insolvency, formerly operating as a public limited company based in Ludhiana, Punjab, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 28 September 2004 and is registered under CIN U17111PB2004PLC027528. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
KSM Spinning Mills has 3 current directors:
- Sarish Mittal - Whole-Time Director
- Lovelish Mittal - Whole-Time Director
- Vipan Kumar - Director
The latest financial statements of KSM Spinning Mills on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 30 September 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of KSM Spinning Mills is U17111PB2004PLC027528. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
KSM Spinning Mills has open charges of ₹244.84 Cr and satisfied charges of ₹92.45 Cr as per latest MCA filings.
KSM Spinning Mills has 139 court cases on record: 61 filed by the company and 78 filed against it. 21 are pending. Most are in the district courts.
KSM Spinning Mills was incorporated on 28 September 2004. It is registered with the Registrar of Companies, Chandigarh.
KSM Spinning Mills has 29 deals on record (24 secondary share transfers, 5 funding rounds), with disclosed funding of ₹72.1 Cr; the latest was in March 2016.
The peers of KSM Spinning Mills by revenue are Deshraj Texturisers Pvt Ltd, Frendi Fashions Private Limited, Suraj Dyeing and Printing Limited, Jay Khodiyar Cotton Private Limited, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Manju Mittal ceased to be Whole-Time Director on 30 Mar 2017. Vipan Kumar ceased to be Managing Director on 10 Apr 2015. Sushil Kumar ceased to be Director on 30 Sep 2014. KSM Spinning Mills has 10 board changes on record in total.
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