Reds Marine Services Limited
About Reds Marine Services Limited
Data last updated:
Reds Marine Services Limited is a public limited company based in Amreli, Gujarat, India, a subsidiary of Reliance Naval And Engineering Limited. 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 jewelry and gemstone retail and distribution segment of the consumer goods sector. It was incorporated on 04 June 2012.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U29219GJ2012PLC070565. Its GSTIN is 27AAGCP8113J1Z8 (Maharashtra).
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹5 Lakh. It was formerly known as Pipavav Engineering and Defence Services Limited and Reliance Engineering and Defence Services Limited. It is led by directors including Nikhil Nirmal Jain and Rachakonda Venkata Ramana.
Its last annual general meeting (AGM) was held on 28 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at Survey No. 658 Village Rampara – II Taluka Rajula And Village Lunsapur Taluka Jafrabad, Amreli, Gujarat, India – 365560.
As per the financials filed for FY 2019, the company reported a revenue of ₹4.74 Lakh, a decline of 100% compared to the previous year. For the same year it recorded a net loss of ₹31.58 Cr and EBITDA of ₹3.42 Lakh (EBITDA margin 72.2%). Revenue has declined at a compounded annual rate (CAGR) of 87% over three years.
Court records list 3 cases involving the company, including 3 filed by the company.
Company details
Name history
Reds Marine Services has undergone 2 name changes throughout its history. The company was previously known as Pipavav Engineering And Defence Services Limited, and Reliance Engineering And Defence Services Limited. The current legal name is Reds Marine Services Limited.
| Company Name | Status |
|---|---|
| Reds Marine Services Limited | Current |
| Pipavav Engineering And Defence Services Limited | Previous |
| Reliance Engineering And Defence Services Limited | Previous |
Contact details
Reds Marine Services Limited's registered office is in Amreli, Gujarat. Its e-mail address is in the company report.
- Email
- Registered AddressSurvey No. 658 Village Rampara – II Taluka Rajula And Village Lunsapur Taluka Jafrabad, Amreli, Gujarat, India – 365560
- IndustryConsumer Goods, Jewelry & Gemstone Retail & Distribution
To see the full contact details of Reds Marine Services 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 Reds Marine Services Limited
FY 2019 filings availableReds Marine Services Limited reported revenue of ₹4.74 Lakh (down 100% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 87% over three years. EBITDA fell 100% 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 | |||||
| Other Income | |||||
| Total Revenue | ₹4.74 Lakh | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹3.42 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹31.58 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 72.2% | ||||
| Net Profit Margin | |||||
| 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 Reds Marine Services Limited, buy the company report.
Board of directors of Reds Marine Services Limited
Reds Marine Services has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nikhil Nirmal Jain Also directs: Risee Apex Private Limited, Risee Enterprises Private Limited, JGN Energies Private Limited and 5 more | Director | 24 Aug 2017 | 9 Years 2 Months | As last reported |
| Rachakonda Venkata Ramana Also directs: Firstship Exim Solutions LLP, Reliance Pure EV Private Limited, Neom Smart Technology Private Limited and 5 more | Director | 18 Jan 2016 | 10 Years 9 Months | As last reported |
| Madan Gopal Pendse Also directs: Aipl Vista Private Limited, Das Offshore Limited, Netizen Talent Management (Karnataka) Private Limited and 5 more | Additional Director | 04 Dec 2019 | 6 Years 10 Months | As last reported |
Peer comparison
Reds Marine Services Limited is compared with the 3 companies closest to it by revenue in the Consumer Products industry (Jewellery and Gems Retail and Distribution, Marine Services), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Oyeshop Retail Private Limited | ₹4.8 Lakh (FY 2024) | -62.0% | New Delhi, Delhi, India | |||
| Subhsidhi Suppliers Private Limited | ₹4.8 Lakh (FY 2025) | -27.0% | Chennai, Tamil Nadu, India | |||
| Reds Marine Services Limitedthis company | ₹4.74 Lakh (FY 2019) | -₹31.58 Cr | -100.0% | Amreli, Gujarat, India | ||
| Belon Wale Dinesh Jewellers Private Limited | ₹4.73 Lakh (FY 2024) | -55.0% | Aligarh, Uttar Pradesh, India |
To see the full peer comparison of Reds Marine Services Limited, buy the company report.
Auditor
Reds Marine Services Limited is audited by MAHENDRA & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MAHENDRA & CO | FY 2019 | 509293C |
Shareholding
The shareholding of Reds Marine Services Limited is on record for 4 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 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Reds Marine Services Limited, buy the company report.
Legal cases
Reds Marine Services Limited has 3 court cases on record: 3 filed by Reds Marine Services. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLT | 3 | 0 | 0 |
Cases on record (2 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Religare Finvest Limited and 1 other | Disposed |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company | Disposed |
To see the full case history of Reds Marine Services 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Reds Marine Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Reds Marine Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAGCP8113J1Z8 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Reds Marine Services Limited, buy the company report.
Recent activity
Reds Marine Services Limited has 17 board changes on record since 2014: 3 appointments and 14 cessations. The latest: Madan Gopal Pendse was appointed as Additional Director on 04 Dec 2019.
8 earlier events are in the company report.
Frequently asked questions
Reds Marine Services 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.
Reds Marine Services is a company under liquidation, formerly operating as a public limited company based in Amreli, Gujarat, India. The company works in jewelry and gemstone retail and distribution, within the consumer goods industry. It was incorporated on 04 June 2012 and is registered under CIN U29219GJ2012PLC070565. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Reds Marine Services has 3 current directors:
- Nikhil Nirmal Jain - Director
- Rachakonda Venkata Ramana - Director
- Madan Gopal Pendse - Additional Director
The latest financial statements of Reds Marine Services on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 28 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Reds Marine Services is U29219GJ2012PLC070565. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Reds Marine Services has 3 court cases on record: 3 filed by the company.
Reds Marine Services was incorporated on 04 June 2012. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Reds Marine Services by revenue are Oyeshop Retail Private Limited, Subhsidhi Suppliers Private Limited, Belon Wale Dinesh Jewellers Private Limited, all in the Consumer Products industry (Jewellery and Gems Retail and Distribution, Marine Services), with the same principal business activity (wholesale trading).
Madan Gopal Pendse was appointed as Additional Director on 04 Dec 2019. Nikhil Nirmal Jain ceased to be Additional Director on 28 Sep 2018. Siba Kumar Patnaik ceased to be Additional Director on 28 Sep 2018. Reds Marine Services has 17 board changes on record in total.
The registered office of Reds Marine Services is at Survey No. 658 Village Rampara – II Taluka Rajula And Village Lunsapur Taluka Jafrabad, Amreli, Gujarat, India – 365560.
The GSTIN of Reds Marine Services is 27AAGCP8113J1Z8, registered in Maharashtra.