Pragati Fashions Private Limited

Pragati Fashions Private Limited - fashion and textile in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN U18101MH1995PTC084480 Incorporated 09 January 1995 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Private Limited Company fashion and textile MSME · Medium
Revenue · FY 2025
₹168.42 Cr
▼ 9% YoY
Net profit · FY 2025
₹30.3 Lakh
Net margin 0.2%
EBITDA · FY 2025
₹5.52 Cr
EBITDA margin 3.3%
Authorised capital
₹1.5 Cr
Registered with MCA
Paid-up capital
₹1.5 Cr
Issued & subscribed
Open charges
₹30 Cr
Satisfied ₹10.74 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
84
Provident fund records

About Pragati Fashions Private Limited

Data last updated:

Pragati Fashions Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the designer and branded fashion segment of the fashion and textiles sector. It was incorporated on 09 January 1995 and has been in existence for over 31 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U18101MH1995PTC084480. Its GSTIN is 27AACCP1730H1ZO (Maharashtra).

The company has an authorised share capital of ₹1.5 Cr and a paid-up capital of ₹1.5 Cr. It is led by directors including Kirti Lakhamshi Shah and Pravin Champshi Gala.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Shree Sadguru Heights F.P.No.455 Bhavani Shankar Road Dadar (West), Mumbai, Maharashtra, India – 400028.

As per the financials filed for FY 2025, the company reported a revenue of ₹168.42 Cr, a decline of 9% compared to the previous year. For the same year it recorded a net profit of ₹30.3 Lakh (net margin 0.2%) and EBITDA of ₹5.52 Cr (EBITDA margin 3.3%). Revenue has declined at a compounded annual rate (CAGR) of 3% over three years and 2% over five years.

The company has about 84 employees on its provident fund (EPFO) records.

The company is associated with 2 brands: Pragati Fashions and Zola Fashion. As per MCA filings, the company has open charges of ₹30 Cr and satisfied charges of ₹10.74 Cr on record. Court records list 62 cases involving the company, including 45 filed by the company and 17 filed against it; 34 cases are pending. The company has 9 deals on record (5 secondary share transfers, 2 rights issues, 2 funding rounds), with disclosed funding of ₹99 Lakh; the latest was in March 2017. The company has 27 MSME Form 1 returns on record between 2019 and 2023, listing 6,315 overdue payments to 107 micro and small suppliers.

Pragati Fashions Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0004604). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website zolafashions.com.

Company details

CIN U18101MH1995PTC084480
Registration Number 084480
Incorporation Date 09 January 1995
ROC Mumbai
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0004604
Key People
Kirti Lakhamshi Shah Director Pravin Champshi Gala Director Rushabh Nanji Gala Director

Recognitions & Rankings of Pragati Fashions

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-MH-19-0004604

Contact details

Pragati Fashions Private Limited's registered office is in Mumbai, Maharashtra. Its website is zolafashions.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    zolafashions.com
  • Registered Address
    Shree Sadguru Heights F.P.No.455 Bhavani Shankar Road Dadar (West), Mumbai, Maharashtra, India – 400028
  • Industry
    Fashion and Textile, Designer & Branded Fashion

To see the full contact details of Pragati Fashions Private Limited, buy the company report.

Comprehensive company report
Pragati Fashions Private Limited - one report that includes everything
  • 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
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Brands

Pragati Fashions operates two associated brands: Pragati Fashions and Zola Fashion. Each brand links to its own profile.

BrandDescriptionWebsite
Zola Fashion
Online platform selling women's ethnic clothing, accessories, and bulk orders.zola.in
Pragati Fashions
Upcoming fashion brand providing email sign-ups for latest updates and products.zolafashions.com

Business activity

The main business activity of Pragati Fashions is trade. In detail, this covers wholesale trading.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
GTradeG1Wholesale Trading

To see the full business activity and turnover split of Pragati Fashions Private Limited, buy the company report.

Financials of Pragati Fashions Private Limited

FY 2024 filings available

Pragati Fashions Private Limited reported revenue of ₹168.42 Cr (down 9% YoY) for FY 2025.

Revenue · FY 2025
₹168.42 Cr ▼ 9%
Net profit · FY 2025
₹30.3 Lakh margin 0.2%
EBITDA · FY 2025
₹5.52 Cr margin 3.3%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▼ 9%
3 years · compounded
▲ 3%
5 years · compounded
▼ 2%
EBITDA CAGR growth
1 year
▼ 8%
3 years · compounded
▼ 1%
5 years · compounded
▼ 6%

Revenue has declined at a compounded annual rate (CAGR) of 2% over five years, including a 9% fall in the latest year. EBITDA fell 8% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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₹5.52 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹30.3 Lakh
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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin3.3%
Net Profit Margin0.2%
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 Pragati Fashions Private Limited, buy the company report.

Board of directors of Pragati Fashions Private Limited

Pragati Fashions has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Kirti Lakhamshi ShahDirector09 Jan 199531 Years 10 MonthsCurrent
Pravin Champshi GalaDirector23 Aug 200719 Years 2 MonthsCurrent
Rushabh Nanji GalaDirector01 Apr 20224 Years 7 MonthsCurrent
View all directors

Auditor

Pragati Fashions Private Limited is audited by M.A. Shah & Co. for the financial year 2023.

Auditor firmFinancial yearFirm registration number
M.A. Shah & Co.FY 2023112630W

Shareholding

The shareholding of Pragati Fashions Private 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 categoryFY 2023FY 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Pragati Fashions Private Limited, buy the company report.

Charges & borrowings

Open charges
₹30 Cr
Satisfied charges
₹10.74 Cr
Breakdown by lending institutions
Others₹30.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
26 Nov 200710080296Others₹30 CrOpen
09 Sep 2016100052912Others₹4.15 LakhSatisfied
07 Mar 201510554765The Cosmos Co-Op Bank Limited₹4.5 CrSatisfied
22 May 201410500502The Cosmos Co- Operative Bank Ltd₹3 CrSatisfied
02 Dec 201310468611The Cosmos Co- Operative Bank Ltd₹3.78 LakhSatisfied

To see the full charge records of Pragati Fashions Private Limited, buy the company report.

Total charge records: 8 View all charges

Deals & funding

Pragati Fashions Private Limited has 9 deals on record (5 secondary share transfers, 2 rights issues, 2 funding rounds), with disclosed funding of ₹99 Lakh; the latest was in March 2017.

Total deals
9
Secondary share transfers
5
Rights issues
2
Funding rounds
2
Disclosed funding
₹99 Lakh

Deals on record (5 of 9)

WhenDealAmountParties
Mar 2017Rights issue₹2.09 CrInvestors: 4 individuals
Dec 2015Rights issue₹1.8 CrInvestors: 4 individuals
Dec 2014Secondary share transferUndisclosedBuyer: an individual
Seller: an individual
Mar 2012Secondary share transferUndisclosedBuyer: 3 individuals
Seller: 4 individuals
Mar 2010Secondary share transferUndisclosedBuyer: an individual
Seller: an individual

To see the full deal history of Pragati Fashions Private Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Pragati Fashions Private Limited was last rated by Crisil on 12 Nov 2018.

Rating agencyRated onRating
Crisil12 Nov 2018

To see the full credit ratings and regulatory alerts of Pragati Fashions Private Limited, buy the company report.

MSME payment delays

Pragati Fashions Private Limited has 27 MSME Form 1 returns on record between 2019 and 2023, listing 6,315 overdue payments to 107 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 107)

SupplierAmount dueDue sinceReported on
an individual supplier
an individual supplier
an individual supplier
an individual supplier
an individual supplier

To see the full MSME payment records of Pragati Fashions Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Pragati Fashions Private Limited has a workforce of 84 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.

Employee count
84
Active EPFO establishments
1
Employee growth
5%

Headcount by financial year

Financial yearEmployees (EPFO)
FY 2026-2784
FY 2025-26
FY 2024-25
FY 2023-24
FY 2022-23
FY 2021-22
FY 2020-21
FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17

To see the full employee and EPFO history of Pragati Fashions Private Limited, buy the company report.

GST

Pragati Fashions has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
27AACCP1730H1ZOMaharashtraActive01 Jul 2017

To see the full GST registrations and return filing status of Pragati Fashions Private Limited, buy the company report.

Recent activity

Pragati Fashions Private Limited has 9 board changes on record since 1995: 3 appointments and 6 cessations. The latest: Paresh Velji Shah ceased to be Additional Director on 30 Sep 2022.

AGM
Pragati Fashions Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Pragati Fashions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Charges
A charge registered on 09 Sep 2016 via Charge ID 100052912 with Others was fully satisfied on 17 Dec 2022.
Charges
A charge registered on 02 Dec 2013 via Charge ID 10468611 with The Cosmos Co- Operative Bank Ltd was fully satisfied on 17 Dec 2022.
Charges
A charge registered on 05 Apr 2011 via Charge ID 10283810 with The Cosmos Co - Operative Bank Limited was fully satisfied on 17 Dec 2022.
Ceased
Paresh Velji Shah ceased to be Additional Director.
Ceased
Rasesh Nenshi Gala ceased to be Additional Director.
Ceased
Rushabh Nanji Gala ceased to be Additional Director.
Ceased
Nanji Lakhamshi Shah ceased to be Additional Director.
Appointed
Rushabh Nanji Gala was appointed as Director.
Charges
A charge with Others of Rs. 30.00 Cr registered on 26 Nov 2007 with Charge ID 10080296 was modified on 30 Aug 2018.
Charges
A charge registered on 07 Mar 2015 via Charge ID 10554765 with The Cosmos Co-Op Bank Limited was fully satisfied on 05 Oct 2016.

16 earlier events are in the company report.

Frequently asked questions

Pragati Fashions is an active private limited company based in Mumbai, Maharashtra, India. The company works in designer and branded fashion, within the fashion and textile industry. It was incorporated on 09 January 1995 (31+ years old) and is registered under CIN U18101MH1995PTC084480.

Pragati Fashions has 3 current directors:

The latest financial statements of Pragati Fashions on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Pragati Fashions is 27AACCP1730H1ZO, registered in Maharashtra.

The CIN (Corporate Identification Number) of Pragati Fashions is U18101MH1995PTC084480. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Pragati Fashions has 62 court cases on record: 45 filed by the company and 17 filed against it. 34 are pending. Most are in the district courts.

Pragati Fashions was incorporated on 09 January 1995, making it 31+ years old. It is registered with the Registrar of Companies, Mumbai.

Pragati Fashions has 9 deals on record (5 secondary share transfers, 2 rights issues, 2 funding rounds), with disclosed funding of ₹99 Lakh; the latest was in March 2017.

Paresh Velji Shah ceased to be Additional Director on 30 Sep 2022. Rasesh Nenshi Gala ceased to be Additional Director on 30 Sep 2022. Rushabh Nanji Gala ceased to be Additional Director on 30 Sep 2022. Pragati Fashions has 9 board changes on record in total.

Yes, Pragati Fashions is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0004604).

Pragati Fashions has 27 MSME Form 1 returns on record between 2019 and 2023, listing 6,315 overdue payments to 107 micro and small suppliers. The latest return was filed on 15 Dec 2023.