About Mfs Ethnic Limited
Data last updated: 05 January 2026
Mfs Ethnic Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in traditional and ethnic wear, a part of the broader fashion and textiles sector. Incorporated on 25 July 2017, the company has been in operation for over 9 years.
Registered with ROC Mumbai under CIN U18209MH2017PLC297799.
Capital: an authorised share capital of ₹6 Cr and a paid-up capital of ₹1.51 Cr. It is led by directors including Sarika Mitesh Sanghvi and Mitesh Pramod Sanghvi.
Last AGM: 30 September 2024. Financial statements filed for year ended 31 March 2024. Office: Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹60.46 Cr, a decline of 2% compared to the previous year.
The company has a workforce of approximately 5 employees as per the latest available data.
The company is associated with 1 brand - Mfs Ethnic. As per MCA filings, the company has open charges of ₹23.34 Cr and satisfied charges of ₹11.35 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mfsethnic.com.
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Registered Address711 7Th Floor Essgee Option One Nr Tilak Bhawan, Senapati Bapat Marg Dadar W, Mumbai, Maharashtra, India – 400025
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IndustryFashion and Textile, Traditional & Ethnic Wear
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Associated Brands with Mfs Ethnic Limited
Mfs Ethnic Limited operates one associated brand: MFS Ethnic. These brands represent Mfs Ethnic Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Designs, manufactures, and exports Indian ethnic apparel including sherwanis and suits. | mfsethnic.com |
Competitors & Alternatives of Mfs Ethnic Limited
Brands and companies operating in the same space as Mfs Ethnic Limited include Fabindia, Aza Fashions, Indya and 5 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Fabindia
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Internet first brand of ethnic wear, home furniture, and home decor products | Delhi, India, India | 1960 |
Aza Fashions
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Retail chain for luxury and designer apparel and accessories | Mumbai, India, India | 2005 |
Indya
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Multi channel fashion brand offering a range of traditional and contemporary ethnic wear | Noida, India, India | 2016 |
Neerus Ensembles
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Sells Indian ethnic clothing including kurtis, sarees, and lehengas online and in stores. | Hyderabad, India, India | 1971 |
Vedant Fashions
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Indian wedding and celebration wear is designed and sold by Vedant Fashions. | Kolkata, India, India | 2002 |
KALKI
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Retail chain of Indian ethnic wear for women, men, and children | Mumbai, India, India | 2007 |
Tarun Tahiliani
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Internet first brand offering ethnic wear apparel for women and men | Gurugram, India, India | 1995 |
Indo Era
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Online platform selling ethnic kurtas, suits, and dresses for women worldwide. | Surat, India, India | 2018 |
Business Activity of Mfs Ethnic Limited
Mfs Ethnic Limited is engaged in the principal business activity of trade, with detailed activities including wholesale trading.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | Locked |
Business activity turnover details for Mfs Ethnic Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Mfs Ethnic Limited
Mfs Ethnic Limited is audited by Atul Dedhia & Associates for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Atul Dedhia & Associates | Locked | Locked | Locked |
Complete auditor history for Mfs Ethnic Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
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Board of Directors of Mfs Ethnic Limited
Mfs Ethnic Limited is currently managed by 4 directors, with 5 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sarika Mitesh Sanghvi | Director | 28 Feb 2024 | 2 Years 5 Months | Current |
| Mitesh Pramod Sanghvi | Managing Director | 25 Jul 2017 | 9 Years 0 Months | Current |
| Jigna Haresh Doshi | Director | 01 Sep 2021 | 4 Years 11 Months | Current |
|
Haresh Javerilal Doshi
Also directs:
Kalasiddhi Ethnic Llp
|
Whole-Time Director | 25 Jul 2017 | 9 Years 0 Months | Current |
Financials of Mfs Ethnic Limited FY 2024 filings available
Mfs Ethnic Limited reported revenue of ₹60.46 Cr (down 2.00% YoY) for FY 2025.
Ten-year financial statements for Mfs Ethnic Limited
Historical statement values and trend charts require an active report plan.
- Income statements
- Balance sheets
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Ownership and Shareholding of Mfs Ethnic Limited
Shareholding and ownership data for Mfs Ethnic Limited
Promoter, institutional, public, and beneficial ownership values require an active report plan.
- Ownership categories
- Historical changes
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- FII and DII holdings
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Charges & Borrowings of Mfs Ethnic Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 Feb 2024 | Standard Chartered Bank | ₹11.2 Cr | Open |
| 25 Aug 2023 | Standard Chartered Bank | ₹3 Cr | Open |
| 25 Aug 2023 | Standard Chartered Bank | ₹2.2 Cr | Open |
| 19 Apr 2023 | Standard Chartered Bank | ₹6.94 Cr | Open |
| 12 Jan 2022 | Others | ₹1.35 Cr | Satisfied |
Total charge records: 6 View all charges
Employees and EPFO Compliance at Mfs Ethnic Limited
View historical data on people associated with Mfs Ethnic Limited, including employment history and EPFO contributions.
Employee and EPFO history for Mfs Ethnic Limited
Monthly headcount, contribution history, establishment records, and filing compliance require an active report plan.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
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GST Compliance of Mfs Ethnic Limited
GST registrations and filing compliance for Mfs Ethnic Limited
State-wise registrations, return filing status, HSN and SAC details, and jurisdiction records require an active report plan.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
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Credit Ratings, Litigation & Regulatory Alerts for Mfs Ethnic Limited
Credit ratings, litigation, and regulatory alerts for Mfs Ethnic Limited
Agency ratings, court records, regulatory events, and entity-specific compliance alerts require an active report plan.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
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MSME Payment Delays by Mfs Ethnic Limited
MSME payment history for Mfs Ethnic Limited
Amounts outstanding to micro and small suppliers, delay reasons, and MSME-1 filing history require an active report plan.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
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Subsidiaries & Group Companies of Mfs Ethnic Limited
Corporate group structure for Mfs Ethnic Limited
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- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
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MCA Filings & Documents of Mfs Ethnic Limited
MCA filings and documents for Mfs Ethnic Limited
Official forms, annual returns, financial statements, charge filings, and document dates require an active report plan.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
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Recent Activity on Mfs Ethnic Limited
Frequently Asked Questions about Mfs Ethnic Limited
Mfs Ethnic Limited is an active public limited company in the fashion and textile sector based in Mumbai, Maharashtra, India. It was incorporated on 25 July 2017 (9+ years old) and is registered under CIN U18209MH2017PLC297799. The company has 5 employees.
Mfs Ethnic Limited reported revenue of ₹60.46 Cr for FY 2025 (down 2.00% YoY).
The current directors of Mfs Ethnic Limited are:
- Sarika Mitesh Sanghvi - Director
- Mitesh Pramod Sanghvi - Managing Director
- Jigna Haresh Doshi - Director
- Haresh Javerilal Doshi - Whole-Time Director
The primary industry of Mfs Ethnic Limited is fashion and textile. The company specifically operates in traditional and ethnic wear. The company is currently active in this sector.
Mfs Ethnic Limited can be reached at the registered office: 711 7Th Floor Essgee Option One Nr Tilak Bhawan, Senapati Bapat Marg Dadar W, Mumbai, Maharashtra, India – 400025, or through the website mfsethnic.com.
The authorised capital is ₹6 Cr, and the paid-up capital is ₹1.51 Cr.