About Firestar International Limited
Data last updated:
Firestar International Limited is a public limited company based in Mumbai, Maharashtra, India. 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 watches and jewelry manufacturing segment of the consumer goods sector. It was incorporated on 01 April 2004.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U51909MH2004PLC145478. The company has 4 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹194.65 Cr. It was formerly known as Firestar International Private Limited and Firestone International Private Limited. It is led by directors including Haresh Vrajlal Shah (Whole-Time Director) and Nirav Deepak Modi.
Its last annual general meeting (AGM) was held on 30 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at 2002 20th Floor Peninsula Business Park, Mumbai, Maharashtra.
As per the financials filed for FY 2016, the company reported a revenue of ₹4,534.47 Cr, a growth of 21% compared to the previous year. For the same year it recorded a net profit of ₹431.71 Cr (net margin 9.5%) and EBITDA of ₹779.99 Cr (EBITDA margin 17.2%).
The company has about 811 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
As per MCA filings, the company has open charges of ₹3,726 Cr and satisfied charges of ₹4,393.21 Cr on record. Court records list 21 cases involving the company, including 4 filed by the company and 17 filed against it; 6 cases are pending.
The last known website on record is firestardiamond.com.
Company details
Name history
Firestar International has undergone 2 name changes throughout its history. The company was previously known as Firestar International Private Limited, and Firestone International Private Limited. The current legal name is Firestar International Limited.
| Company Name | Status |
|---|---|
| Firestar International Limited | Current |
| Firestar International Private Limited | Previous |
| Firestone International Private Limited | Previous |
CIN history
Firestar International has one previous CIN (Corporate Identification Number): U51909MH2004PTC145478. The current CIN is U51909MH2004PLC145478, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51909MH2004PLC145478 | Current |
| U51909MH2004PTC145478 | Previous |
Contact details
Firestar International Limited's registered office is in Mumbai, Maharashtra. Its website is firestardiamond.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address2001 & 2002 20th Floor Peninsula Business Park Tower B Ganpatrao Kadam Marg Lower Par, El, Mumbai, Maharashtra, India – 400013
- IndustryConsumer Goods, Watches & Jewelry Manufacturing
To see the full contact details of Firestar International 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
Financials of Firestar International Limited
FY 2017 filings availableFirestar International Limited reported revenue of ₹4,534.47 Cr (up 21% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue rose 21% in the latest year. EBITDA rose 23% 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 | ||
| Other Income | ||
| Total Revenue | ₹4,534.47 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | ₹779.99 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | ₹431.71 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 | 17.2% | |
| Net Profit Margin | 9.5% | |
| 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 Firestar International Limited, buy the company report.
Board of directors of Firestar International Limited
Firestar International has 3 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nirav Deepak Modi | Director | 01 Apr 2004 | 22 Years 7 Months | As last reported |
| Haresh Vrajlal Shah | Whole-Time Director | 01 Apr 2015 | 11 Years 7 Months | As last reported |
| Angelina Nguyen | Director | 06 Jan 2017 | 9 Years 10 Months | As last reported |
Peer comparison
Firestar International Limited is compared with the 4 companies closest to it by revenue in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewelry, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kundan Refinery Private Limited | ₹20,252 Cr (FY 2025) | 77.0% | New Delhi, Delhi, India | |||
| Gitanjali Gems Ltd | ₹16,831 Cr (FY 2017) | 19.0% | Mumbai, Maharashtra, India | |||
| Swarn Shilp Chains & Jewellers Private Limited | ₹11,162 Cr (FY 2025) | 36.0% | Mumbai, Maharashtra, India | |||
| Aries Refinery Private Limited | ₹9,141.36 Cr (FY 2025) | 206.0% | New Delhi, Delhi, India | |||
| Firestar International Limitedthis company | ₹4,534.47 Cr (FY 2016) | ₹431.71 Cr | 9.5% | 21.0% | 811 | Mumbai, Maharashtra, India |
To see the full peer comparison of Firestar International Limited, buy the company report.
Auditor
Firestar International Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2016 |
Shareholding
The shareholding of Firestar International Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Firestar International Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Sep 2015 | 10595328 | Punjab National Bank | ₹400 Cr | Open | |
| 04 Feb 2015 | 10550038 | Pnb Investment Services Limited | ₹846 Cr | Open | |
| 08 Aug 2012 | 10372605 | Others | ₹2,480 Cr | Open | |
| 19 Jul 2014 | 10514121 | Allahabad Bank | ₹100 Cr | Satisfied | |
| 22 Mar 2014 | 10495496 | Bank of Maharashtra | ₹95 Cr | Satisfied |
To see the full charge records of Firestar International Limited, buy the company report.
Total charge records: 71 View all charges
Legal cases
Firestar International Limited has 21 court cases on record: 4 filed by Firestar International, 17 filed against it. 6 cases are pending and 15 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 8 | 3 |
| High courts | 8 | 4 | 2 |
| Supreme Court | 4 | 4 | 1 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Court case (REVN) | Filed against the company by Idbi Bank Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by M/S.Essel Finance VKC Forex Ltd. | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by The Principal Commissioner of Income Tax Central-3 | Pending |
| Supreme Court | Court case (1003-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters arising out of orders of Company Law Board under Section 397 & 398 of Companies Act, 1956) | Filed against the company by an individual | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (PMLA SPL CASE) | Filed against the company by an individual | Pending |
To see the full case history of Firestar International 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.
Credit ratings & regulatory alerts
Firestar International Limited was last rated by Indiarating on 14 Jun 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 14 Jun 2021 |
To see the full credit ratings and regulatory alerts of Firestar International Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Firestar International Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Firestar International has 2 subsidiary companies. This group structure data is as of FY 2017. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Firestar Diamond International Private Limited | U51909MH2006PTC164429 | |
| Firestar Diamond International Private Limited | U51909MH2006PTC164429 |
To see the full group structure of Firestar International Limited, buy the company report.
Employees & EPFO
Firestar International Limited has a workforce of 811 employees on its EPFO records as of Dec 2017, across 3 active EPFO establishments.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2017-18 | 811 |
| FY 2016-17 |
To see the full employee and EPFO history of Firestar International Limited, buy the company report.
GST
Firestar International has 4 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Firestar International Limited, buy the company report.
Recent activity
Firestar International Limited has 16 board changes on record since 2004: 3 appointments and 13 cessations. The latest: Sanjay Rishi ceased to be Director on 07 Feb 2018.
161 earlier events are in the company report.
News
Frequently asked questions
Firestar International 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.
Firestar International is a company under liquidation, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in watches and jewelry manufacturing, within the consumer goods industry. It was incorporated on 01 April 2004 and is registered under CIN U51909MH2004PLC145478. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Firestar International has 3 current directors:
- Haresh Vrajlal Shah - Whole-Time Director
- Nirav Deepak Modi - Director
- Angelina Nguyen - Director
The latest financial statements of Firestar International on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 30 September 2017. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Firestar International is U51909MH2004PLC145478. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Firestar International has open charges of ₹3,726 Cr and satisfied charges of ₹4,393.21 Cr as per latest MCA filings.
Firestar International has 21 court cases on record: 4 filed by the company and 17 filed against it. 6 are pending. Most are in the district courts.
Firestar International was incorporated on 01 April 2004. It is registered with the Registrar of Companies, Mumbai.
The peers of Firestar International by revenue are Kundan Refinery Private Limited, Gitanjali Gems Ltd, Swarn Shilp Chains & Jewellers Private Limited, Aries Refinery Private Limited, all in the Consumer Products industry (Watches and Jewellery Manufacturers), with the same principal business activity (other manufacturing including jewelry, musical instruments, medical instruments, sports goods, etc. activities).
Sanjay Rishi ceased to be Director on 07 Feb 2018. Ravi Shanker Gupta ceased to be Cfo(Kmp) on 05 Feb 2018. Suresh Chandra Senapaty ceased to be Director on 05 Feb 2018. Firestar International has 16 board changes on record in total.
Firestar International can be reached through the website firestardiamond.com. Its registered office is in Mumbai, Maharashtra, India.
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