About Torque Automotive Private Limited
Data last updated:
Torque Automotive Private Limited is a private limited company based in Ahmedabad, Gujarat, 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 automobile dealership and trading segment of the automotive sector. It was incorporated on 23 April 2007.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U40105GJ2007PTC050624. Its GSTIN is 24AACCT6528R1ZR (Gujarat). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹7.5 Cr and a paid-up capital of ₹1.62 Cr. It is led by directors Kuren Manishkumar Amin and Chirag Barot Karansingh.
Its last annual general meeting (AGM) was held on 29 September 2018, and its latest financial statements are for the year ended 31 March 2018. The registered office is at 2nd Floor Mrudul Tower B/H. Times Of India Ashram Road, Ahmedabad, Gujarat, India – 380009.
As per the financials filed for FY 2018, the company reported a revenue of ₹277.31 Cr, a decline of 4% compared to the previous year. For the same year it recorded a net profit of ₹1.02 Cr (net margin 0.4%) and EBITDA of ₹23.21 Cr (EBITDA margin 8.4%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years.
The company has about 215 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹202.26 Cr and satisfied charges of ₹141.95 Cr on record. Court records list 54 cases involving the company, including 8 filed by the company and 46 filed against it; 14 cases are pending. The company has 2 deals on record (2 funding rounds), with disclosed funding of ₹8.66 Cr; the latest was in May 2011.
The last known website on record is torqueauto.in.
Company details
Contact details
Torque Automotive Private Limited's registered office is in Ahmedabad, Gujarat. Its website is torqueauto.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address2nd Floor Mrudul Tower B/H. Times Of India Ashram Road, Ahmedabad, Gujarat, India – 380009
- IndustryAutomotive, Auto Dealership & Trading
To see the full contact details of Torque Automotive Private 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
Business activity
The main business activity of Torque Automotive is transport and storage. In detail, this covers land transport via road.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H1 | Land Transport via Road |
To see the full business activity and turnover split of Torque Automotive Private Limited, buy the company report.
Financials of Torque Automotive Private Limited
FY 2018 filings availableTorque Automotive Private Limited reported revenue of ₹277.31 Cr (down 4% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue fell 4% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 11%. EBITDA rose 1% 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 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ₹277.31 Cr | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | ₹23.21 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | ₹1.02 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 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | 8.4% | |||
| Net Profit Margin | 0.4% | |||
| 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 Torque Automotive Private Limited, buy the company report.
Board of directors of Torque Automotive Private Limited
Torque Automotive has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chirag Barot Karansingh | Additional Director | 25 Dec 2020 | 5 Years 10 Months | As last reported |
| Kuren Manishkumar Amin | Director | 23 Apr 2007 | 19 Years 6 Months | As last reported |
Auditor
Torque Automotive Private Limited is audited by H N V B & ASSOCIATES for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| H N V B & ASSOCIATES | FY 2018 | 133622W |
Shareholding
The shareholding of Torque Automotive Private Limited is on record for 4 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Torque Automotive Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Aug 2018 | 100198527 | Others | ₹3.71 Cr | Open | |
| 06 Apr 2018 | 100181716 | State Bank of India | ₹20 Cr | Open | |
| 07 Feb 2016 | 100034638 | Others | ₹1.07 Cr | Open | |
| 07 Jan 2015 | 10546598 | Indiabulls Housing Finance Limited | ₹4.56 Cr | Open | |
| 29 Jun 2012 | 10363784 | Dena Bank | ₹56.46 Cr | Open |
To see the full charge records of Torque Automotive Private Limited, buy the company report.
Total charge records: 13 View all charges
Deals & funding
Torque Automotive Private Limited has 2 deals on record (2 funding rounds), with disclosed funding of ₹8.66 Cr; the latest was in May 2011.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2011 | Funding round | ₹2 Cr | Investors: General Capital and Holding Company Private Limited , 2 individuals |
| Jul 2009 | Funding round | ₹6.66 Cr | Investors: Gyscoal Enterprise Private Limited , General Capital and Holding Company Private Limited , Piccadily Marketing Gujrat Private Limited, an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Torque Automotive Private Limited has 54 court cases on record: 8 filed by Torque Automotive, 46 filed against it. 14 cases are pending and 40 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 36 | 34 | 9 |
| NCLT | 7 | 5 | 1 |
| High courts | 6 | 3 | 2 |
| Supreme Court | 3 | 2 | 0 |
| NCLAT | 2 | 2 | 2 |
Cases on record (5 of 54)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Civil suit | Filed against the company by M/S.Tristha Hotels Pvt.Ltd., Through Ramesh A. Shetty | Pending |
| High Court, GUJARAT | Special civil application | Filed against the company by CBCC Global Research LLP | Disposed |
| District court, Vadodara, Gujarat | Commercial matter | Filed against the company by Automotive Resources (India) Pvt. Ltd. Officer Harshil Panchal | Disposed |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Stellar Autohaus Private Limited | Disposed |
| District court, Vadodara, Gujarat | Criminal complaint | Filed against the company by HDFC Bank Ltd - Nirav Patel | Disposed |
To see the full case history of Torque Automotive Private 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
Torque Automotive Private Limited was last rated by Indiarating on 10 Jan 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 10 Jan 2020 |
To see the full credit ratings and regulatory alerts of Torque Automotive Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Torque Automotive Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Torque Automotive Private Limited has a workforce of 215 employees on its EPFO records as of Oct 2018, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2018-19 | 215 |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Torque Automotive Private Limited, buy the company report.
GST
Torque Automotive has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCT6528R1ZR | Gujarat | Active | 01 Jul 2017 |
| 24AACCT6528R2ZQ | Gujarat | Active | 05 Apr 2021 |
To see the full GST registrations and return filing status of Torque Automotive Private Limited, buy the company report.
Recent activity
Torque Automotive Private Limited has 5 board changes on record since 2007: 2 appointments and 3 cessations. The latest: Chirag Barot Karansingh was appointed as Additional Director on 25 Dec 2020.
21 earlier events are in the company report.
Frequently asked questions
Torque Automotive 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.
Torque Automotive is a company under insolvency, formerly operating as a private limited company based in Ahmedabad, Gujarat, India. The company works in auto dealership and trading, within the automotive industry. It was incorporated on 23 April 2007 and is registered under CIN U40105GJ2007PTC050624. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Torque Automotive has 2 current directors:
- Chirag Barot Karansingh - Additional Director
- Kuren Manishkumar Amin - Director
The latest financial statements of Torque Automotive on record with the MCA are for the year ended 31 March 2018. Its last annual general meeting was held on 29 September 2018. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Torque Automotive is U40105GJ2007PTC050624. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Torque Automotive has open charges of ₹202.26 Cr and satisfied charges of ₹141.95 Cr as per latest MCA filings.
Torque Automotive has 54 court cases on record: 8 filed by the company and 46 filed against it. 14 are pending. Most are in the district courts.
Torque Automotive was incorporated on 23 April 2007. It is registered with the Registrar of Companies, Ahmedabad.
Torque Automotive has 2 deals on record (2 funding rounds), with disclosed funding of ₹8.66 Cr; the latest was in May 2011.
Chirag Barot Karansingh was appointed as Additional Director on 25 Dec 2020. Ikshit Manish Amin ceased to be Additional Director on 29 Sep 2018. Zankarsinh Kishorsinh Solanki ceased to be Additional Director on 03 Sep 2017. Torque Automotive has 5 board changes on record in total.
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