About Scotts Garments Limited
Data last updated:
Scotts Garments Limited is a public limited company based in Bangalore, Karnataka, India, a subsidiary of Linen Art Private Limited. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the designer and branded fashion segment of the fashion and textiles sector. It was incorporated on 01 March 2002.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U18101KA2002PLC030185. Its GSTIN is 29AAFCS9703C1ZB (Karnataka). The company holds 4 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹44 Cr and a paid-up capital of ₹50.06 Lakh. It was formerly known as Scotts Garments Private Limited. It is led by directors including Madhugiri Venkatarayappa Sudarshan (Irp/Rp/Liquidator) and Vimal Kumar Goenka.
Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2023, the company reported a revenue of ₹15.55 Cr, a growth of 82% compared to the previous year. For the same year it recorded a net loss of ₹17.36 Cr (net margin -111.6%) and EBITDA of -₹8.41 Cr (EBITDA margin -54.1%). Revenue has declined at a compounded annual rate (CAGR) of 469% over three years and 48% over five years.
The company has about 4 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Scotts Garments. As per MCA filings, the company has open charges of ₹3,052.86 Cr and satisfied charges of ₹122.97 Cr on record. Court records list 266 cases involving the company, including 81 filed by the company and 185 filed against it; 49 cases are pending. The company has 8 deals on record (7 funding rounds, 1 secondary share transfer), with disclosed funding of ₹57.81 Cr; the latest was in December 2019. Its 7 peer companies in the Apparel industry (Branded Wear), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 4 larger and 3 smaller; the largest is Swarnim Fancy Wear Private Limited with revenue of ₹16.35 Cr.
The last known website on record is scottsgarments.com.
Company details
CIN history
Scotts Garments has one previous CIN (Corporate Identification Number): U18101KA2002PTC030185. The current CIN is U18101KA2002PLC030185, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U18101KA2002PLC030185 | Current |
| U18101KA2002PTC030185 | Previous |
Contact details
Scotts Garments Limited's registered office is in Bangalore, Karnataka. Its website is scottsgarments.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address481 – B IV Phase Peenya Industrial Area, India, Bangalore, Karnataka, India – 560058
- IndustryFashion and Textile, Designer & Branded Fashion
To see the full contact details of Scotts Garments 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
Scotts Garments operates one associated brand: Scotts Garments. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Fashion apparels for men and women are manufactured and imported. | scottsgarments.com |
Business activity
The main business activity of Scotts Garments 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 Scotts Garments Limited, buy the company report.
Financials of Scotts Garments Limited
FY 2023 filings availableScotts Garments Limited reported revenue of ₹15.55 Cr (up 82% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue rose 82% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 48%. EBITDA fell 205% 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 | ₹15.55 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹8.41 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹17.36 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 | |||||
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Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -54.1% | ||||
| Net Profit Margin | -111.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick 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 Scotts Garments Limited, buy the company report.
Board of directors of Scotts Garments Limited
Scotts Garments has 5 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nakkaguttala Hally Subbaraya Sastry Thyagarajan | Nominee Director | 05 Jan 2018 | 8 Years 9 Months | As last reported |
| Sayed Habibulla Also directs: Scotts Knits Private Limited, Scotts Apparels Private Limited, Scotts Wears Private Limited and 5 more | Additional Director | 05 Jul 2022 | 4 Years 3 Months | As last reported |
| Madhugiri Venkatarayappa Sudarshan Also directs: Surathi Ventures LLP | Irp/Rp/Liquidator | 14 May 2024 | 2 Years 5 Months | As last reported |
| Vimal Kumar Goenka Also directs: Fancy Fab Spinning & Weaving Mill LLP, Ashwell Textiles Private Limited, Shreeja Devcon Private Limited and 1 more | Director | 09 Oct 2019 | 7 Years 0 Months | As last reported |
| Shitanshu Bipin Vora Also directs: Fancy Fab Spinning & Weaving Mill LLP, Ashwell Textiles Private Limited, Shreeja Devcon Private Limited and 2 more | Director | 09 Oct 2019 | 7 Years 0 Months | As last reported |
Peer comparison
Scotts Garments Limited is compared with the 7 companies closest to it by revenue in the Apparel industry (Branded Wear), 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 |
|---|---|---|---|---|---|---|
| Swarnim Fancy Wear Private Limited | ₹16.35 Cr (FY 2024) | 16.0% | Kanpur, Uttar Pradesh, India | |||
| Kumar Wears Private Limited | ₹16.05 Cr (FY 2017) | 4.0% | Faridabad, Haryana, India | |||
| Loli Poli Dresses Private Limited | ₹15.82 Cr (FY 2024) | 3.0% | Kolkata, West Bengal, India | |||
| Mac-One Fashions Private Limited | ₹15.59 Cr (FY 2025) | 3.0% | Kolkata, West Bengal, India | |||
| Scotts Garments Limitedthis company | ₹15.55 Cr (FY 2023) | -₹17.36 Cr | -111.6% | 82.0% | 4 | Bangalore, Karnataka, India |
| Goyam Knitwears Private Limited | ₹15.45 Cr (FY 2025) | -40.0% | Ludhiana, Punjab, India | |||
| Samrudhi Creation (India) Private Limited | ₹15.33 Cr (FY 2024) | 3.0% | Mumbai, Maharashtra, India | |||
| Cosmozone Clothing Private Limited | ₹15.18 Cr (FY 2019) | 34.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Scotts Garments Limited, buy the company report.
Auditor
Scotts Garments Limited is audited by C R MURALI for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| C R MURALI | FY 2023 |
Shareholding
The shareholding of Scotts Garments 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 Scotts Garments Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 17 Jul 2017 | 100115174 | Sbicap Trustee Company Limited | ₹489.9 Cr | Open | |
| 26 Apr 2017 | 100096339 | Sbicap Trustee Company Limited | ₹489.9 Cr | Open | |
| 20 Oct 2015 | 10601497 | Canara Bank | ₹3 Cr | Open | |
| 14 Oct 2015 | 10601499 | Canara Bank | ₹5 Cr | Open | |
| 19 Aug 2015 | 10596733 | Canara Bank | ₹10.59 Cr | Open |
To see the full charge records of Scotts Garments Limited, buy the company report.
Total charge records: 45 View all charges
Deals & funding
Scotts Garments Limited has 8 deals on record (7 funding rounds, 1 secondary share transfer), with disclosed funding of ₹57.81 Cr; the latest was in December 2019.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2019 | Funding round | ₹50 Lakh | Investors: Linen Art Private Limited |
| Dec 2012 | Funding round | ₹20 Cr | Investors: Canbank Ventures |
| Mar 2009 | Funding round | ₹14 Cr | Investors: Bombay Rayon Fashions Limited |
| Mar 2008 | Funding round | ₹3.81 Cr | Investors: B R Machine Tools Private Limited , Ashwell Textiles Private Limited , 2 individuals |
| Oct 2007 | Funding round | ₹7.15 Cr | Investors: Pedigree Construction Private Limited , 3 individuals |
To see the full deal history of Scotts Garments 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
Scotts Garments Limited has 266 court cases on record: 81 filed by Scotts Garments, 185 filed against it. 49 cases are pending and 217 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 192 | 137 | 19 |
| High courts | 66 | 40 | 28 |
| NCLAT | 7 | 7 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 266)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Coimbatore, Tamil Nadu | Criminal case | Filed against the company by Ms K.G.Fabriks Ltd Rep.By V.Subbiah | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by Mahati Pack Well Private Limited Rep by Ganapathi Hegde | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed against the company by M/S Global Attire Pvt Ltd | Disposed |
| High Court | Writ petition | Filed against the company by M/S Global Attire Pvt Ltd | Disposed |
| District court, Tiruppur, Tamil Nadu | Civil suit | Filed against the company by M/S Global Attire Private Ltd,Rep by Its Director Ahmed Mustafa | Disposed |
To see the full case history of Scotts Garments 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 Scotts Garments Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Scotts Garments Limited has a workforce of 4 employees on its EPFO records as of Mar 28, 2024, across 4 active EPFO establishments.
GST
Scotts Garments has 4 GST registrations: 2 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCS9703C1ZB | Karnataka | Active | 01 Jul 2017 |
| 29AAFCS9703C2ZA | Karnataka | Active | 07 Feb 2024 |
To see the full GST registrations and return filing status of Scotts Garments Limited, buy the company report.
Recent activity
Scotts Garments Limited has 21 board changes on record since 2010: 5 appointments and 16 cessations. The latest: Madhugiri Venkatarayappa Sudarshan was appointed as Irp/Rp/Liquidator on 14 May 2024.
92 earlier events are in the company report.
Frequently asked questions
Scotts Garments is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Scotts Garments is a company under liquidation, formerly operating as a public limited company based in Bangalore, Karnataka, India. The company works in designer and branded fashion, within the fashion and textile industry. It was incorporated on 01 March 2002 and is registered under CIN U18101KA2002PLC030185. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Scotts Garments has 5 current directors:
- Nakkaguttala Hally Subbaraya Sastry Thyagarajan - Nominee Director
- Sayed Habibulla - Additional Director
- Vimal Kumar Goenka - Director
- Shitanshu Bipin Vora - Director
- Madhugiri Venkatarayappa Sudarshan - Irp/Rp/Liquidator
The latest financial statements of Scotts Garments on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Scotts Garments is U18101KA2002PLC030185. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Scotts Garments has open charges of ₹3,052.86 Cr and satisfied charges of ₹122.97 Cr as per latest MCA filings.
Scotts Garments has 266 court cases on record: 81 filed by the company and 185 filed against it. 49 are pending. Most are in the district courts.
Scotts Garments was incorporated on 01 March 2002. It is registered with the Registrar of Companies, Bangalore.
Scotts Garments has 8 deals on record (7 funding rounds, 1 secondary share transfer), with disclosed funding of ₹57.81 Cr; the latest was in December 2019.
The peers of Scotts Garments by revenue are Swarnim Fancy Wear Private Limited, Kumar Wears Private Limited, Loli Poli Dresses Private Limited, Mac-One Fashions Private Limited, Goyam Knitwears Private Limited and 2 more, all in the Apparel industry (Branded Wear), with the same principal business activity (textile, leather and other apparel products).
Madhugiri Venkatarayappa Sudarshan was appointed as Irp/Rp/Liquidator on 14 May 2024. Azeezulla Baig ceased to be Director on 05 Jul 2022. Sayed Habibulla was appointed as Additional Director on 05 Jul 2022. Scotts Garments has 21 board changes on record in total.