Msa Ethos Apparel Private Limited
About Msa Ethos Apparel Private Limited
Data last updated:
Msa Ethos Apparel Private Limited is a private limited company based in Vadodara, Gujarat, India. It operates in the designer and branded fashion segment of the fashion and textiles sector. It was incorporated on 24 September 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U18109GJ2014PTC080894. Its GSTIN is 24AAJCM4323Q1Z4 (Gujarat).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1.65 Lakh. It is led by directors including Mayank Jitendra Patel and Ami Bhadrikkumar Shah.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at J.C Patel Estate Bharath Baugh Nr. Ranoli Crosing NH 8 Po Dashrath, Vadodara, Gujarat, India – 391740.
As per the financials filed for FY 2025, the company reported a revenue of ₹69.93 Lakh. For the same year it recorded a net profit of ₹87,983 (net margin 1.3%) and EBITDA of ₹8.08 Lakh (EBITDA margin 11.5%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 3% over five years.
As per MCA filings, the company has satisfied charges of ₹3.49 Lakh on record.
The current compliance status is marked as compliant by the Registrar of Companies.
- EmailLocked
- TelephoneLocked
- WebsiteLocked
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- Registered AddressJ.C Patel Estate Bharath Baugh Nr. Ranoli Crosing NH 8 Po Dashrath, Vadodara, Gujarat, India – 391740
- IndustryFashion and Textile, Designer & Branded Fashion
- 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
- One PDF report, delivered after checkout
Business Activity of Msa Ethos Apparel Private Limited
The main business activity of Msa Ethos Apparel is manufacturing. In detail, this covers textile, leather and other apparel products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Msa Ethos Apparel Private Limited FY 2025 filings available
Msa Ethos Apparel Private Limited reported revenue of ₹69.93 Lakh for FY 2025.
Compounded Annual Growth Rate (CAGR) of Msa Ethos Apparel Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 3% over five years. EBITDA rose 39% 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 of Msa Ethos Apparel Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| 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 | ₹8.08 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹87,983 | •••• | •••• | •••• | •••• |
| 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 of Msa Ethos Apparel Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 11.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 1.3% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Msa Ethos Apparel are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Msa Ethos Apparel Private Limited
Msa Ethos Apparel Private Limited is compared with the companies closest to it by revenue in the Apparel industry (Apparel, Branded Wear). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Elite Creations Private Limited | ₹71.73 Lakh (FY 2025) | •••• | •••• | 610.0% | •••• | New Delhi, Delhi, India |
| Eco-Embrace Designer Clothing Private Limited | ₹71.69 Lakh (FY 2024) | •••• | •••• | 649.0% | •••• | Mysore, Karnataka, India |
| Inaara Fashion Private Limited | ₹70.7 Lakh (FY 2025) | •••• | •••• | •••• | Indore, Madhya Pradesh, India | |
| Rushabh Lifestyle Private Limited | ₹70.62 Lakh (FY 2019) | •••• | •••• | -91.0% | •••• | Mumbai, Maharashtra, India |
| Khush Apparel World Private Limited | ₹70.29 Lakh (FY 2025) | •••• | •••• | 7.0% | •••• | Kolkata, West Bengal, India |
| Msa Ethos Apparel Private Limited this company | ₹69.93 Lakh (FY 2025) | •••• | •••• | •••• | Vadodara, Gujarat, India | |
| Eternalia Creative & Merchandising Private Limited | ₹69.91 Lakh (FY 2025) | •••• | •••• | -95.0% | •••• | Kolkata, West Bengal, India |
| Real Rainwear Private Limited | ₹69.9 Lakh (FY 2025) | •••• | •••• | -43.0% | •••• | Mumbai, Maharashtra, India |
| Fizz Clothing Company Private Limited | ₹69.85 Lakh (FY 2024) | •••• | •••• | -80.0% | •••• | New Delhi, Delhi, India |
| Enterprise Grey LLP | ₹69.84 Lakh (FY 2023) | •••• | •••• | -26.0% | •••• | Chennai, Tamil Nadu, India |
| Dream Apparals and Fashionz Private Limited | ₹69.81 Lakh (FY 2025) | •••• | •••• | 18.0% | •••• | Ernakulam, Kerala, India |
Peers are the five companies nearest above and the five nearest below Msa Ethos Apparel by revenue in the Apparel industry (Apparel, Branded Wear), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Msa Ethos Apparel Private Limited
Msa Ethos Apparel Private Limited is audited by Parikh Shah Chotalia & Associates for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Parikh Shah Chotalia & Associates | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Msa Ethos Apparel Private Limited
Msa Ethos Apparel has 6 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mayank Jitendra Patel | Director | 27 Feb 2016 | 10 Years 7 Months | Current |
| Ami Bhadrikkumar Shah | Director | 02 Feb 2015 | 11 Years 8 Months | Current |
| Rajiv Hiralal Punjya | Director | 02 Feb 2015 | 11 Years 8 Months | Current |
| Uday Ramaniklal Dalal Also directs: Msa Renewtech Foundation, Green Solution Foundation | Director | 24 Sep 2014 | 12 Years 0 Months | Current |
| Mukesh Dalshukhrai Kothari | Director | 24 Sep 2014 | 12 Years 0 Months | Current |
| Sunil Hiralal Patel Also directs: Behno India Private Limited, Sunrise CSP India Private Limited | Director | 21 Oct 2014 | 11 Years 11 Months | Current |
Ownership and Shareholding of Msa Ethos Apparel Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Msa Ethos Apparel Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Dec 2014 | Kotak Mahindra Prime Limited | ₹3.49 Lakh | Satisfied |
Total charge records: 1 View all charges
MSME Payment Delays by Msa Ethos Apparel Private Limited
Msa Ethos Apparel Private Limited has 2 MSME Form 1 returns on record between 2020 and 2021, listing 13 overdue payments to 7 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 7)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Parikh Shah and Chotaliya Associates | •••• | •••• | •••• |
| Lion Tapes Private Limited | •••• | •••• | •••• |
| Saurin Textiles Mills P Ltd | •••• | •••• | •••• |
| Stretch Bands (Gujarat) Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 2 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Msa Ethos Apparel Private Limited
Employment history and EPFO contributions of people linked to Msa Ethos Apparel.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Msa Ethos Apparel Private Limited
Msa Ethos Apparel Private Limited has 10 board changes on record since 2014: 6 appointments and 4 cessations. The latest: Mayank Jitendra Patel ceased to be Additional Director on 29 Sep 2017.
3 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Msa Ethos Apparel Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Msa Ethos Apparel Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Msa Ethos Apparel Private Limited
Msa Ethos Apparel has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAJCM4323Q1Z4 | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Msa Ethos Apparel Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Msa Ethos Apparel Private Limited
Msa Ethos Apparel is an active private limited company based in Vadodara, Gujarat, India. The company works in designer and branded fashion, within the fashion and textile industry. It was incorporated on 24 September 2014 (12+ years old) and is registered under CIN U18109GJ2014PTC080894.
Msa Ethos Apparel reported revenue of ₹69.93 Lakh for FY 2025.
Msa Ethos Apparel has 6 current directors:
- Mayank Jitendra Patel - Director
- Ami Bhadrikkumar Shah - Director
- Rajiv Hiralal Punjya - Director
- Uday Ramaniklal Dalal - Director
- Mukesh Dalshukhrai Kothari - Director
- Sunil Hiralal Patel - Director
Msa Ethos Apparel reported a net profit of ₹87,983 (net margin 1.3%) and EBITDA of ₹8.08 Lakh (EBITDA margin 11.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Msa Ethos Apparel is 3% over three years and 3% over five years. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Msa Ethos Apparel is 24AAJCM4323Q1Z4, registered in Gujarat.
The CIN (Corporate Identification Number) of Msa Ethos Apparel is U18109GJ2014PTC080894. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Msa Ethos Apparel was incorporated on 24 September 2014, making it 12+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Msa Ethos Apparel by revenue are Elite Creations Private Limited, Eco-Embrace Designer Clothing Private Limited, Inaara Fashion Private Limited, Rushabh Lifestyle Private Limited, Khush Apparel World Private Limited and 5 more, all in the Apparel industry (Apparel, Branded Wear).
Mayank Jitendra Patel ceased to be Additional Director on 29 Sep 2017. Mayank Jitendra Patel was appointed as Director on 27 Feb 2016. Ami Bhadrikkumar Shah ceased to be Additional Director on 30 Sep 2015. Msa Ethos Apparel has 10 board changes on record in total.
Msa Ethos Apparel has 2 MSME Form 1 returns on record between 2020 and 2021, listing 13 overdue payments to 7 micro and small suppliers. The latest return was filed on 14 Sep 2021.
The registered office of Msa Ethos Apparel is at J.C Patel Estate Bharath Baugh Nr. Ranoli Crosing NH 8 Po Dashrath, Vadodara, Gujarat, India – 391740.