About Satluj Spintex Limited
Data last updated:
Satluj Spintex Limited is a public limited company based in Bathinda, Punjab, 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 textile and fabric production segment of the manufacturing sector. It was incorporated on 17 March 2010.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U17290PB2010PLC033706. Its GSTIN is 03AAOCS0616F1ZO (Punjab).
The company has an authorised share capital of ₹120.25 Cr and a paid-up capital of ₹110 Cr. It is led by directors including Sham Lal (Managing Director) and Anup Kumar.
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at Post Office Bazar Near Post Office, Bathinda, Punjab, India – 151001.
As per the financials filed for FY 2022, the company reported a revenue of ₹241.09 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net loss of ₹20.18 Cr (net margin -8.4%) and EBITDA of ₹30.17 Cr (EBITDA margin 12.5%). Revenue has declined at a compounded annual rate (CAGR) of 36% over three years and 18% over five years.
The company has about 14 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹406.75 Cr and satisfied charges of ₹932.25 Cr on record. Court records list 8 cases involving the company, including 5 filed by the company and 3 filed against it; 3 cases are pending. The company has 14 deals on record (10 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹78.95 Cr; the latest was in September 2016. Its 9 peer companies in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 4 larger and 5 smaller; the largest is Anjani Spintex Private Limited with revenue of ₹244.37 Cr.
The last known website on record is satlujgroup.com.
Company details
Contact details
Satluj Spintex Limited's registered office is in Bathinda, Punjab. Its website is satlujgroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressPost Office Bazar Near Post Office, Bathinda, Punjab, India – 151001
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Satluj Spintex 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 Satluj Spintex 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 Satluj Spintex Limited, buy the company report.
Financials of Satluj Spintex Limited
FY 2022 filings availableSatluj Spintex Limited reported revenue of ₹241.09 Cr (down 3% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 18% over five years, including a 3% fall in the latest year. EBITDA rose 692% 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
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| Other Income | |||||
| Total Revenue | ₹241.09 Cr | ||||
| Cost of Materials Consumed | |||||
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| Total Expenses | |||||
| EBITDA | ₹30.17 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹20.18 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 12.5% | ||||
| Net Profit Margin | -8.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Satluj Spintex Limited, buy the company report.
Board of directors of Satluj Spintex Limited
Satluj Spintex has 7 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anup Kumar | Director | 10 Dec 2015 | 10 Years 10 Months | As last reported |
| Subash Chand Bansal | Director | 10 Dec 2015 | 10 Years 10 Months | As last reported |
| Sham Lal | Managing Director | 17 Mar 2010 | 16 Years 7 Months | As last reported |
| Sumit Shukla | Irp/Rp/Liquidator | 03 Jan 2025 | 1 Years 9 Months | As last reported |
| Pardeep Kumar Lakhani Also directs: KVG Insolvency Advisors Private Limited | Irp/Rp/Liquidator | 20 Aug 2024 | 2 Years 2 Months | As last reported |
| Rohit Kumar Also directs: Stanley Textiles Private Limited | Director | 17 Mar 2010 | 16 Years 7 Months | As last reported |
Peer comparison
Satluj Spintex Limited is compared with the 9 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 |
|---|---|---|---|---|---|---|
| Anjani Spintex Private Limited | ₹244.37 Cr (FY 2025) | 17.0% | Botad, Gujarat, India | |||
| Wampum Syntex Private Limited | ₹241.99 Cr (FY 2025) | 18.0% | Silvassa, Dadra and Nagar Haveli, India | |||
| Seiren India Private Limited | ₹241.75 Cr (FY 2025) | 25.0% | Mysore, Karnataka, India | |||
| Welspun Home Solutions Limited | ₹241.44 Cr (FY 2025) | 19.0% | Hyderabad, Telangana, India | |||
| Satluj Spintex Limitedthis company | ₹241.09 Cr (FY 2022) | -₹20.18 Cr | -8.4% | -3.0% | 14 | Bathinda, Punjab, India |
| Kumar Cotton Mills Ltd | ₹240.01 Cr (FY 2025) | -4.0% | Ahmedabad, Gujarat, India | |||
| Sumicot Limited | ₹238.83 Cr (FY 2024) | -2.0% | Surat, Gujarat, India | |||
| Shree Sakthi Vinayagar Weaves Private Limited | ₹237.96 Cr (FY 2025) | 33.0% | Pallipalayam, Tamil Nadu, India | |||
| Texventures Private Limited | ₹237.95 Cr (FY 2025) | 640.0% | Mumbai, Maharashtra, India | |||
| Kanodia Global Private Limited | ₹237.66 Cr (FY 2025) | 9.0% | New Delhi, Delhi, India |
To see the full peer comparison of Satluj Spintex Limited, buy the company report.
Auditor
Satluj Spintex Limited is audited by L K & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| L K & ASSOCIATES | FY 2022 | 027370N |
Shareholding
The shareholding of Satluj Spintex Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Satluj Spintex Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Mar 2021 | 100430333 | Others | ₹46 Cr | Open | |
| 22 Apr 2020 | 100336111 | Others | ₹18.5 Cr | Open | |
| 29 Jun 2019 | 100276481 | Others | ₹55 Cr | Open | |
| 11 Feb 2019 | 100240786 | Others | ₹7 Cr | Open | |
| 02 Feb 2016 | 10622340 | Others | ₹185 Cr | Open |
To see the full charge records of Satluj Spintex Limited, buy the company report.
Total charge records: 16 View all charges
Deals & funding
Satluj Spintex Limited has 14 deals on record (10 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹78.95 Cr; the latest was in September 2016.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Rohit Gagandeep & Co, 2 individuals |
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Rohit Gagandeep & Co |
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Rohit Gagandeep & Co |
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jun 2010 | Funding round | ₹27 Cr | Investors: Rohit Gagandeep & Co, 3 individuals |
To see the full deal history of Satluj Spintex Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Satluj Spintex Limited has 8 court cases on record: 5 filed by Satluj Spintex, 3 filed against it. 3 cases are pending and 5 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 1 | 2 |
| District courts | 1 | 1 | 1 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, PUNJAB | Writ petition | Filed by the company against Punjab State Power Corporation Ltd and Ors and 2 others | Disposed |
| High Court, PUNJAB | Writ petition | Filed by the company against State of Punjab and Others and 2 others | Pending |
| District court, Ludhiana, Punjab | Commercial suit | Filed against the company by an individual | Pending |
| High Court, PUNJAB | Writ petition | Filed by the company against Union of India and Anr and 1 other | Pending |
| High Court of Punjab and Haryana | Appeal | Filed against the company by Punjab State Power Corp. Ltd. and Another | Disposed |
To see the full case history of Satluj Spintex 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
Satluj Spintex Limited was last rated by Crisil on 25 Nov 2019.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 25 Nov 2019 |
To see the full credit ratings and regulatory alerts of Satluj Spintex Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Satluj Spintex Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Satluj Spintex Limited has a workforce of 14 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Satluj Spintex has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AAOCS0616F1ZO | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Satluj Spintex Limited, buy the company report.
Recent activity
Satluj Spintex Limited has 12 board changes on record since 2010: 7 appointments and 5 cessations. The latest: Sumit Shukla was appointed as Irp/Rp/Liquidator on 03 Jan 2025.
31 earlier events are in the company report.
Frequently asked questions
Satluj Spintex 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.
Satluj Spintex is a company under insolvency, formerly operating as a public limited company based in Bathinda, Punjab, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 17 March 2010 and is registered under CIN U17290PB2010PLC033706. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Satluj Spintex has 7 current directors:
- Sham Lal - Managing Director
- Anup Kumar - Director
- Subash Chand Bansal - Director
- Rohit Kumar - Director
- Rohit Garg - Additional Director
- Sumit Shukla - Irp/Rp/Liquidator
- Pardeep Kumar Lakhani - Irp/Rp/Liquidator
The latest financial statements of Satluj Spintex on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Satluj Spintex is U17290PB2010PLC033706. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Satluj Spintex has open charges of ₹406.75 Cr and satisfied charges of ₹932.25 Cr as per latest MCA filings.
Satluj Spintex has 8 court cases on record: 5 filed by the company and 3 filed against it. 3 are pending. Most are in the high courts.
Satluj Spintex was incorporated on 17 March 2010. It is registered with the Registrar of Companies, Chandigarh.
Satluj Spintex has 14 deals on record (10 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹78.95 Cr; the latest was in September 2016.
The peers of Satluj Spintex by revenue are Anjani Spintex Private Limited, Wampum Syntex Private Limited, Seiren India Private Limited, Welspun Home Solutions Limited, Kumar Cotton Mills Ltd and 4 more, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Sumit Shukla was appointed as Irp/Rp/Liquidator on 03 Jan 2025. Pardeep Kumar Lakhani was appointed as Irp/Rp/Liquidator on 20 Aug 2024. Neha Dewan ceased to be Company Secretary on 15 Oct 2023. Satluj Spintex has 12 board changes on record in total.