Pal Synthetics Limited
About Pal Synthetics Limited
Data last updated:
Pal Synthetics Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 28 May 1981 and has been in existence for over 45 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U99999MH1981PLC024491. Its GSTIN is 27AABCP9916A1ZJ (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹4.72 Cr. It was formerly known as Pal Synthetics Pvtlimited and Rishi Textiles Industries Pvt Ltd. It is led by directors including Ranvir Bhimchand Sharma and Dapinderpal Singh Jagjit Singh Arora.
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Pal House Plot No. 41 Marolco.Op.Ind. Estate Andheri, Mumbai, Maharashtra, India – 400059.
As per the financials filed for FY 2019, the company reported a revenue of ₹38.37 Lakh, a decline of 66% compared to the previous year. For the same year it recorded a net loss of ₹90.39 Lakh (net margin -235.6%) and EBITDA of -₹8.73 Lakh (EBITDA margin -22.8%). Revenue has declined at a compounded annual rate (CAGR) of 74% over three years and 55% over five years.
As per MCA filings, the company has open charges of ₹35.56 Cr on record. Court records list 19 cases involving the company, including 15 filed by the company and 4 filed against it; 8 cases are pending.
The current compliance status is marked as active non-compliant by the Registrar of Companies.
Company details
Name history
Pal Synthetics has undergone 3 name changes throughout its history. The company was previously known as Pal Synthetics Pvtlimited, Rishi Textiles Industries Pvt Ltd, and Rishi Textiles Industries Ltd. The current legal name is Pal Synthetics Limited.
| Company Name | Status |
|---|---|
| Pal Synthetics Limited | Current |
| Pal Synthetics Pvtlimited | Previous |
| Rishi Textiles Industries Pvt Ltd | Previous |
| Rishi Textiles Industries Ltd | Previous |
CIN history
Pal Synthetics has one previous CIN (Corporate Identification Number): U99999MH1981PTC024491. The current CIN is U99999MH1981PLC024491, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U99999MH1981PLC024491 | Current |
| U99999MH1981PTC024491 | Previous |
Contact details
Pal Synthetics Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered AddressPal House Plot No. 41 Marolco.Op.Ind. Estate Andheri, Mumbai, Maharashtra, India – 400059
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Pal Synthetics 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 Pal Synthetics 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 Pal Synthetics Limited, buy the company report.
Financials of Pal Synthetics Limited
FY 2019 filings availablePal Synthetics Limited reported revenue of ₹38.37 Lakh (down 66% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 55% over five years, including a 66% fall in the latest year. EBITDA rose 88% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹38.37 Lakh | ||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | -₹8.73 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹90.39 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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| Trade Payables | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -22.8% | ||||
| Net Profit Margin | -235.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
| Payable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Pal Synthetics Limited, buy the company report.
Board of directors of Pal Synthetics Limited
Pal Synthetics has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ranvir Bhimchand Sharma Also directs: Shreetex Engineers Private Limited | Director | 28 Mar 2004 | 22 Years 6 Months | Current |
| Dapinderpal Singh Jagjit Singh Arora Also directs: Ashu Annu Textiles Pvt Ltd, Angadpal Industries Private Limited | Director | 31 Jan 1989 | 37 Years 8 Months | Current |
| Rapinderpal Singh Jagjitsingh Arora Also directs: Ashu Annu Textiles Pvt Ltd, Angadpal Industries Private Limited | Director | 01 May 2012 | 14 Years 5 Months | Current |
Auditor
Pal Synthetics Limited is audited by VIPIN L THAKUR & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VIPIN L THAKUR & CO | FY 2019 | 130775W |
Shareholding
The shareholding of Pal Synthetics Limited is on record for 5 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | 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 Pal Synthetics Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Jul 1995 | 80040922 | Bank of Baroda | ₹11.75 Cr | Open | |
| 26 Mar 1994 | 80040921 | Bank of Baroda | ₹11.75 Cr | Open | |
| 26 Mar 1994 | 80040923 | Bank of Baroda | ₹12.06 Cr | Open |
To see the full charge records of Pal Synthetics Limited, buy the company report.
Total charge records: 3 View all charges
Legal cases
Pal Synthetics Limited has 19 court cases on record: 15 filed by Pal Synthetics, 4 filed against it. 8 cases are pending and 11 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 17 | 3 | 8 |
| High courts | 2 | 1 | 0 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Private cases SS) | Filed by the company against Essaay Fashion India Pvt Ltd and Others and 2 others | Disposed |
| District court, Thane, Maharashtra | Court case (R.C.C.) | Filed by the company against an individual | Pending |
| District court, Thane, Maharashtra | Civil suit | Filed by the company against M/S. Manisha Synthetics and Othersand Others | Pending |
| District court, Thane, Maharashtra | Civil suit | Filed by the company against individuals | Pending |
| District court, Thane, Maharashtra | Court case (R.C.C.) | Filed by the company against an individual | Pending |
To see the full case history of Pal Synthetics 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
Pal Synthetics Limited was last rated by Icra on 28 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 28 Oct 2021 |
To see the full credit ratings and regulatory alerts of Pal Synthetics Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Pal Synthetics Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Pal Synthetics has 1 associated company. This group structure data is as of FY 2019. The table lists each entity with its relationship and holding.
GST
Pal Synthetics has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCP9916A1ZJ | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Pal Synthetics Limited, buy the company report.
Recent activity
Pal Synthetics Limited has 7 board changes on record since 1989: 3 appointments and 4 cessations. The latest: Dr Jagjit Singh Kharbanda ceased to be Director on 15 Dec 2016.
4 earlier events are in the company report.
Frequently asked questions
Pal Synthetics is an active public limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 28 May 1981 (45+ years old) and is registered under CIN U99999MH1981PLC024491.
Pal Synthetics has 3 current directors:
- Ranvir Bhimchand Sharma - Director
- Dapinderpal Singh Jagjit Singh Arora - Director
- Rapinderpal Singh Jagjitsingh Arora - Director
The latest financial statements of Pal Synthetics on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The GSTIN of Pal Synthetics is 27AABCP9916A1ZJ, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Pal Synthetics is U99999MH1981PLC024491. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Pal Synthetics has 19 court cases on record: 15 filed by the company and 4 filed against it. 8 are pending. Most are in the district courts.
Pal Synthetics was incorporated on 28 May 1981, making it 45+ years old. It is registered with the Registrar of Companies, Mumbai.
Dr Jagjit Singh Kharbanda ceased to be Director on 15 Dec 2016. Mandeep Singh Gaba ceased to be Director on 15 Dec 2016. Jagjit Singh Arora ceased to be Managing Director on 15 Jun 2016. Pal Synthetics has 7 board changes on record in total.
The registered office of Pal Synthetics is at Pal House Plot No. 41 Marolco.Op.Ind. Estate Andheri, Mumbai, Maharashtra, India – 400059.
Pal Synthetics operates in the manufacturing industry, in the textile and fabric production segment.