About Morarjee Textiles Limited
Data last updated:
Morarjee Textiles Limited is a public limited company based in Mumbai, Maharashtra, 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 14 July 1995.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L52322MH1995PLC090643. Its GSTIN is 27AAACM2725R1Z3 (Maharashtra). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 532621 and NSE: MORARJEE.
The company has an authorised share capital of ₹60.55 Cr and a paid-up capital of ₹25.43 Cr. It is led by directors including Harshvardhan Ashok Piramal (Whole-Time Director) and Kishor Krushnaji Dhage (Whole-Time Director).
Its last annual general meeting (AGM) was held on 27 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹208.16 Cr, a decline of 24% compared to the previous year. For the same year it recorded a net loss of ₹185.27 Cr (net margin -89%) and EBITDA of -₹83.27 Cr (EBITDA margin -40%). Revenue has declined at a compounded annual rate (CAGR) of 18% over three years and 11% over five years.
The company has about 761 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Morarjee Textiles. As per MCA filings, the company has open charges of ₹693.5 Cr and satisfied charges of ₹528.14 Cr on record. Court records list 90 cases involving the company, including 49 filed by the company and 41 filed against it; 13 cases are pending. The company has 19 deals on record (15 market trades, 3 funding rounds, 1 rights issue), with disclosed funding of ₹67.83 Cr; the latest was in January 2024. 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, 4 larger and 4 smaller; the largest is Mahalakshmi Spintex Private Limited with revenue of ₹208.96 Cr. The company has 23 MSME Form 1 returns on record between 2018 and 2024, listing 8,429 overdue payments to 74 micro and small suppliers.
The last known website on record is morarjee.com.
Company details
CIN history
Morarjee Textiles has one previous CIN (Corporate Identification Number): U52322MH1995PTC090643. The current CIN is L52322MH1995PLC090643, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L52322MH1995PLC090643 | Current |
| U52322MH1995PTC090643 | Previous |
Contact details
Morarjee Textiles Limited's registered office is in Mumbai, Maharashtra. Its website is morarjee.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address242 Floor – G – 1 New Mahalaxmi Silk Mill Harishchandra L Nagoankar Marg Mathuradas Mills Compound, Lower Parel India, Mumbai, Maharashtra, India – 400013
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Morarjee 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
Morarjee Textiles operates one associated brand: Morarjee Textiles. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Apparel is manufactured by Morarjee in Mumbai, India. | morarjee.com |
Business activity
The main business activity of Morarjee 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 Morarjee Textiles Limited, buy the company report.
Financials of Morarjee Textiles Limited
FY 2023 filings availableMorarjee Textiles Limited reported revenue of ₹208.16 Cr (down 24% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 24% fall 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 | ₹208.16 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹83.27 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹185.27 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -40% | ||||
| Net Profit Margin | -89% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
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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 Morarjee Textiles Limited, buy the company report.
Board of directors of Morarjee Textiles Limited
Morarjee Textiles has 5 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Harshvardhan Ashok Piramal | Whole-Time Director | 01 Jun 2004 | 22 Years 4 Months | As last reported |
| Ajay Kumar Singh Also directs: Lava International Limited | Director | 08 Feb 2017 | 9 Years 8 Months | As last reported |
| Devesh Harishchandra Dadheech Also directs: Dadheech International Trade Foundation | Director | 26 Jun 2020 | 6 Years 3 Months | As last reported |
| Archit Mohan Jayakar Also directs: Labyrinth Cinematic Solutions Private Limited | Director | 29 Jan 2020 | 6 Years 8 Months | As last reported |
| Kishor Krushnaji Dhage | Whole-Time Director | 12 Oct 2023 | 3 Years 0 Months | As last reported |
Peer comparison
Morarjee 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 |
|---|---|---|---|---|---|---|
| Mahalakshmi Spintex Private Limited | ₹208.96 Cr (FY 2025) | 24.0% | Panchkula, Haryana, India | |||
| Balaji Weft Private Limited | ₹208.92 Cr (FY 2025) | 21.0% | Ahmedabad, Gujarat, India | |||
| Tag Developers Pvt Ltd | ₹208.74 Cr (FY 2025) | 39.0% | Kolkata, West Bengal, India | |||
| Dipu Enterprises Pvt Limited | ₹208.63 Cr (FY 2025) | 34.0% | Mumbai, Maharashtra, India | |||
| Morarjee Textiles Limitedthis company | ₹208.16 Cr (FY 2023) | -₹185.27 Cr | -89% | -24.0% | 761 | Mumbai, Maharashtra, India |
| Victory Spinning Mills Private Limited | ₹207.66 Cr (FY 2025) | 5.0% | Namakkal, Tamil Nadu, India | |||
| Olive Tex Silk Mills Private Limited | ₹207.48 Cr (FY 2025) | 8.0% | Mumbai, Maharashtra, India | |||
| Armstrong Spinning Mills Private Limited | ₹207.08 Cr (FY 2022) | 58.0% | Coimbatore, Tamil Nadu, India | |||
| Voith Paper Fabrics India Limited | ₹206.62 Cr (FY 2025) | 6.0% | Farida Bad, Haryana, India |
To see the full peer comparison of Morarjee Textiles Limited, buy the company report.
Auditor
Morarjee Textiles Limited is audited by Haribhakti & Co Llp for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Haribhakti & Co Llp | FY 2023 | 103523W/W100048 |
Shareholding
The shareholding of Morarjee 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 Morarjee Textiles Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Nov 2019 | 100309617 | Others | ₹114 Cr | Open | |
| 15 Oct 2019 | 100299509 | Others | ₹25.5 Cr | Open | |
| 10 May 2018 | 100181370 | Idbi Trusteeship Services Limited | ₹175 Cr | Open | |
| 02 Nov 2016 | 100063105 | Others | ₹7 Cr | Open | |
| 28 May 2015 | 10575658 | Idbi Trusteeship Services Limited | ₹108 Cr | Open |
To see the full charge records of Morarjee Textiles Limited, buy the company report.
Total charge records: 31 View all charges
Deals & funding
Morarjee Textiles Limited has 19 deals on record (15 market trades, 3 funding rounds, 1 rights issue), with disclosed funding of ₹67.83 Cr; the latest was in January 2024.
Deals on record (5 of 19)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2013 | Market trade | ₹67.3 Lakh | Buyer: an individual Seller: Acira Consultancy Private Limited |
| Jan 2013 | Market trade | ₹22.4 Lakh | Buyer: an individual Seller: Gandiv Investment Private Limited |
| Oct 2009 | Rights issue | ₹27.24 Cr | Investors: Others-Morarjee Textiles Limited, Topstar Mercantile Private Limited , 2 individuals |
| Nov 2006 | Funding round | ₹42.83 Cr | Investors: Others-Morarjee Textiles Limited, Nilgiri Marketing Pvt Ltd , Nuco Merchandise Private Limited |
| Nov 2005 | Market trade | ₹1.33 Cr | Buyer: DJS Stock and Shares Limited Seller: Djs Stock And Share Ltd |
To see the full deal history of Morarjee 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
Morarjee Textiles Limited has 90 court cases on record: 49 filed by Morarjee Textiles, 41 filed against it. 13 cases are pending and 77 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 42 | 19 | 10 |
| High courts | 40 | 18 | 3 |
| Supreme Court | 5 | 2 | 0 |
| NCLT | 3 | 2 | 0 |
Cases on record (5 of 90)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Court case (CARBP) | Filed against the company by Tata Capital Financial Services Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed by the company against Silver Star Fashions Pvt Ltd. and 5 others | Pending |
| District court, Kolhapur, Maharashtra | Court case (M.A.N.R.J.I.) | Filed against the company by Ramkrishna Cottex Pvt Ltd Through Manager Shri Umesh Hiralal Lahoti | Disposed |
| District court, Kolhapur, Maharashtra | Court case (Civil M.A.) | Filed against the company by Ramkrishna Cottex Pvt Ltd Through Manager Shri Umesh Hiralal Lahoti | Disposed |
| Bombay High Court | Court case (CAW) | Filed by the company against DC Weaving Mills Pvt Ltd and 1 other | Disposed |
To see the full case history of Morarjee 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.
MSME payment delays
Morarjee Textiles Limited has 23 MSME Form 1 returns on record between 2018 and 2024, listing 8,429 overdue payments to 74 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 74)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Rsa Industries Private Limited | |||
| Axis Engineering Corporation | |||
| an individual supplier | |||
| B R Specialities LLP | |||
| an individual supplier |
To see the full MSME payment records of Morarjee Textiles Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Morarjee Textiles has 1 joint venture. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
Employees & EPFO
Morarjee Textiles Limited has a workforce of 761 employees on its EPFO records as of Apr 07, 2024, across 2 active EPFO establishments.
GST
Morarjee Textiles has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM2725R1Z3 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Morarjee Textiles Limited, buy the company report.
Recent activity
Morarjee Textiles Limited has 35 board changes on record since 1998: 20 appointments and 15 cessations. The latest: Alpana Samir Chinai ceased to be Director on 02 Apr 2024.
93 earlier events are in the company report.
News
Frequently asked questions
Morarjee Textiles 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.
Morarjee Textiles is a company under insolvency, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 14 July 1995 and is registered under CIN L52322MH1995PLC090643. Listed on BSE: 532621 and NSE: MORARJEE. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Morarjee Textiles has 5 current directors:
- Harshvardhan Ashok Piramal - Whole-Time Director
- Kishor Krushnaji Dhage - Whole-Time Director
- Ajay Kumar Singh - Director
- Devesh Harishchandra Dadheech - Director
- Archit Mohan Jayakar - Director
The latest financial statements of Morarjee Textiles on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 27 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Morarjee Textiles is L52322MH1995PLC090643. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Morarjee Textiles is a listed company as per MCA records. Its shares are listed on both BSE (code: 532621) and NSE (symbol: MORARJEE).
Morarjee Textiles has open charges of ₹693.5 Cr and satisfied charges of ₹528.14 Cr as per latest MCA filings.
Morarjee Textiles has 90 court cases on record: 49 filed by the company and 41 filed against it. 13 are pending. Most are in the district courts.
Morarjee Textiles was incorporated on 14 July 1995. It is registered with the Registrar of Companies, Mumbai.
Morarjee Textiles has 19 deals on record (15 market trades, 3 funding rounds, 1 rights issue), with disclosed funding of ₹67.83 Cr; the latest was in January 2024.
The peers of Morarjee Textiles by revenue are Mahalakshmi Spintex Private Limited, Balaji Weft Private Limited, Tag Developers Pvt Ltd, Dipu Enterprises Pvt Limited, Victory Spinning Mills Private Limited and 3 more, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Alpana Samir Chinai ceased to be Director on 02 Apr 2024. Kishor Krushnaji Dhage was appointed as Whole-Time Director on 12 Oct 2023. Urvi Ashok Piramal ceased to be Director on 11 Oct 2023. Morarjee Textiles has 35 board changes on record in total.