About Rashmi Yarns Limited
Data last updated:
Rashmi Yarns Limited is a public limited company based in Surat, Gujarat, 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 textile and fabric production segment of the manufacturing sector. It was incorporated on 26 September 1997.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U17110GJ1997PLC033075. Its GSTIN is 24AABCR1498P1ZV (Gujarat). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹4 Cr and a paid-up capital of ₹2.6 Cr. It was formerly known as Rashmi Yarns Private Limited. It is led by directors including Lakhabhai Bhikhabhai Vagh (Managing Director) and Bharati Pankaj Mehta.
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 405 Metro Tower Ring Road, Surat, Gujarat, India – 395002.
As per the financials filed for FY 2018, the company reported a revenue of ₹23.2 Cr, a decline of 89% compared to the previous year. For the same year it recorded a net loss of ₹24.88 Cr (net margin -107.2%) and EBITDA of -₹19.92 Cr (EBITDA margin -85.8%). Revenue has declined at a compounded annual rate (CAGR) of 39% over three years.
The company has about 39 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹83.8 Cr and satisfied charges of ₹68.1 Cr on record. Court records list 48 cases involving the company, including 25 filed by the company and 23 filed against it; 11 cases are pending.
The last known website on record is rashmiyarn.com.
Company details
CIN history
Rashmi Yarns has one previous CIN (Corporate Identification Number): U17110GJ1997PTC033075. The current CIN is U17110GJ1997PLC033075, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U17110GJ1997PLC033075 | Current |
| U17110GJ1997PTC033075 | Previous |
Contact details
Rashmi Yarns Limited's registered office is in Surat, Gujarat. Its website is rashmiyarn.com. Its e-mail address is in the company report.
- Email
- Website
- Registered Address405 Metro Tower Ring Road, Surat, Gujarat, India – 395002
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Rashmi Yarns 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 Rashmi Yarns 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 Rashmi Yarns Limited, buy the company report.
Financials of Rashmi Yarns Limited
FY 2018 filings availableRashmi Yarns Limited reported revenue of ₹23.2 Cr (down 89% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 39% over three years, including a 89% fall in the latest year. EBITDA fell 393% 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 | ₹23.2 Cr | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | -₹19.92 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | -₹24.88 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 | -85.8% | |||
| Net Profit Margin | -107.2% | |||
| 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 Rashmi Yarns Limited, buy the company report.
Board of directors of Rashmi Yarns Limited
Rashmi Yarns has 5 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bharati Pankaj Mehta | Director | 10 Sep 2018 | 8 Years 1 Months | As last reported |
| Pankaj Jayantilal Mehta | Director | 26 Sep 1997 | 29 Years 1 Months | As last reported |
| Ganesh Venkata Siva Rama Krishna Remani | Irp/Rp/Liquidator | 10 Oct 2023 | 3 Years 0 Months | As last reported |
| Lakhabhai Bhikhabhai Vagh | Managing Director | 26 Sep 1997 | 29 Years 1 Months | As last reported |
| Rajee Lakhabhai Vagh | Director | 10 Sep 2018 | 8 Years 1 Months | As last reported |
Peer comparison
Rashmi Yarns Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sri Suryodhayaa Processing Private Limited | ₹23.24 Cr (FY 2024) | -14.0% | Erode, Tamil Nadu, India | |||
| Rishi Fabrics Limited | ₹23.23 Cr (FY 2025) | 14.0% | Ludhiana, Punjab, India | |||
| T. G. Interlinings Private Limited | ₹23.23 Cr (FY 2024) | 14.0% | Kolkata, West Bengal, India | |||
| Optimum Outwear Private Limited | ₹23.23 Cr (FY 2025) | 4.0% | Bhilwara, Rajasthan, India | |||
| Bizmart Ventures Private Limited | ₹23.22 Cr (FY 2025) | 9.0% | Mumbai, Maharashtra, India | |||
| Rashmi Yarns Limitedthis company | ₹23.2 Cr (FY 2018) | -₹24.88 Cr | -107.2% | -89.0% | 39 | Surat, Gujarat, India |
| Color Fabs Private Limited | ₹23.19 Cr (FY 2025) | -11.0% | New Delhi, Delhi, India | |||
| Sphiro Fab (India) Private Limited | ₹23.19 Cr (FY 2024) | 172.0% | Bhilwara, Rajasthan, India | |||
| Annur KPK Spinning Mills Private Limited | ₹23.17 Cr (FY 2025) | 1.0% | Coimbatore, Tamil Nadu, India |
To see the full peer comparison of Rashmi Yarns Limited, buy the company report.
Auditor
Rashmi Yarns Limited is audited by VASOYA THUMAR & ASSOCIATES for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VASOYA THUMAR & ASSOCIATES | FY 2018 | 128041W |
Shareholding
The shareholding of Rashmi Yarns Limited is on record for 3 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 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Rashmi Yarns Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Dec 2018 | 100233702 | Others | ₹24 Cr | Open | |
| 24 Dec 2018 | 100233459 | Others | ₹4.5 Cr | Open | |
| 24 Dec 2018 | 100233457 | Others | ₹2 Cr | Open | |
| 24 Dec 2018 | 100233452 | Others | ₹17.98 Lakh | Open | |
| 24 Dec 2018 | 100233019 | Others | ₹5.34 Lakh | Open |
To see the full charge records of Rashmi Yarns Limited, buy the company report.
Total charge records: 26 View all charges
Legal cases
Rashmi Yarns Limited has 48 court cases on record: 25 filed by Rashmi Yarns, 23 filed against it. 11 cases are pending and 37 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 36 | 19 | 8 |
| High courts | 7 | 3 | 3 |
| NCLT | 5 | 1 | 0 |
Cases on record (5 of 48)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI APPEAL) | Filed by the company against M/S Wellknown Polyesters Limited and Another One and 1 other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Cases SS) | Filed against the company by M-S Panama Petrochem Ltd | Pending |
| District court, SURAT, Gujarat | Criminal complaint | Filed against the company by Garden Silk Mills Ltd Through Poa Rajiv Ramtirth Katiyar | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI M A) | Filed by the company against M/S Wellknown Polyesters Limited and Another One and 1 other | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI BAIL APPLN) | Filed by the company against M/S Wellknown Polyesters Limited and Another One | Disposed |
To see the full case history of Rashmi Yarns 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
Rashmi Yarns Limited was last rated by Crisil on 29 Sep 2016.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 29 Sep 2016 |
To see the full credit ratings and regulatory alerts of Rashmi Yarns Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Rashmi Yarns Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Rashmi Yarns Limited has a workforce of 39 employees on its EPFO records as of Apr 10, 2024, across 1 active EPFO establishment.
GST
Rashmi Yarns has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCR1498P1ZV | Gujarat | Active | 01 Jul 2017 |
| 26AABCR1498P1ZR | Dadra and Nagar Haveli and Daman and Diu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Rashmi Yarns Limited, buy the company report.
Recent activity
Rashmi Yarns Limited has 10 board changes on record since 1997: 5 appointments and 5 cessations. The latest: Ganesh Venkata Siva Rama Krishna Remani was appointed as Irp/Rp/Liquidator on 10 Oct 2023.
54 earlier events are in the company report.
Frequently asked questions
Rashmi Yarns 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.
Rashmi Yarns is a company under liquidation, formerly operating as a public limited company based in Surat, Gujarat, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 26 September 1997 and is registered under CIN U17110GJ1997PLC033075. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Rashmi Yarns has 5 current directors:
- Lakhabhai Bhikhabhai Vagh - Managing Director
- Bharati Pankaj Mehta - Director
- Pankaj Jayantilal Mehta - Director
- Rajee Lakhabhai Vagh - Director
- Ganesh Venkata Siva Rama Krishna Remani - Irp/Rp/Liquidator
The latest financial statements of Rashmi Yarns 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 Rashmi Yarns is U17110GJ1997PLC033075. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Rashmi Yarns has open charges of ₹83.8 Cr and satisfied charges of ₹68.1 Cr as per latest MCA filings.
Rashmi Yarns has 48 court cases on record: 25 filed by the company and 23 filed against it. 11 are pending. Most are in the district courts.
Rashmi Yarns was incorporated on 26 September 1997. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Rashmi Yarns by revenue are Sri Suryodhayaa Processing Private Limited, Rishi Fabrics Limited, T. G. Interlinings Private Limited, Optimum Outwear Private Limited, Bizmart Ventures Private Limited and 3 more, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Ganesh Venkata Siva Rama Krishna Remani was appointed as Irp/Rp/Liquidator on 10 Oct 2023. Bharati Pankaj Mehta was appointed as Director on 10 Sep 2018. Mansur Jethsur Vanjar ceased to be Additional Director on 10 Sep 2018. Rashmi Yarns has 10 board changes on record in total.
Rashmi Yarns can be reached through the website rashmiyarn.com. Its registered office is in Surat, Gujarat, India.
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