Shree Shiddhanath Cotex Private Limited
About Shree Shiddhanath Cotex Private Limited
Data last updated:
Shree Shiddhanath Cotex Private Limited is a private limited company based in Rajkot, Gujarat, 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 25 March 2008.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U01405GJ2008PTC053324. Its GSTIN is 24AALCS7584F1ZY (Gujarat).
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹3.38 Cr. It is led by directors Darshan Ramnikbhai Bhalala and Viren Sureshbhai Lunagariya.
Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Rajkot, Gujarat.
As per the financials filed for FY 2022, the company reported a revenue of ₹378.86 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹85.49 Lakh (net margin 0.2%) and EBITDA of ₹23.77 Cr (EBITDA margin 6.3%). Revenue has grown at a compounded annual rate (CAGR) of 26% over three years and 2% over five years.
As per MCA filings, the company has open charges of ₹112.12 Cr and satisfied charges of ₹137.36 Cr on record. Court records list 26 cases involving the company, including 2 filed by the company and 24 filed against it; 14 cases are pending. The company has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in November 2014. Its 7 peer companies in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 3 larger and 4 smaller; the largest is Premier SPG and WVG Mills Private Limited with revenue of ₹380.56 Cr.
Company details
Contact details
Shree Shiddhanath Cotex Private Limited's registered office is in Rajkot, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressKrushnakunj Plotno.11 Shrirajresidency B/H.Rajshrungarpartyplot 150 Feetri, Ng Road, Rajkot, Gujarat, India – 360005
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Shree Shiddhanath Cotex Private 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 Shree Shiddhanath Cotex 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 Shree Shiddhanath Cotex Private Limited, buy the company report.
Financials of Shree Shiddhanath Cotex Private Limited
FY 2023 filings availableShree Shiddhanath Cotex Private Limited reported revenue of ₹378.86 Cr (up 283% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 2% over five years, including 283% growth in the latest year. EBITDA rose 67% 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 | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹378.86 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹23.77 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹85.49 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
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| Inventories | |||||
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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 | 6.3% | ||||
| Net Profit Margin | 0.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
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| Net Profit Growth | |||||
To see the full financial statements and ratios of Shree Shiddhanath Cotex Private Limited, buy the company report.
Board of directors of Shree Shiddhanath Cotex Private Limited
Shree Shiddhanath Cotex has 2 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Darshan Ramnikbhai Bhalala | Director | 17 Oct 2020 | 6 Years 0 Months | As last reported |
| Viren Sureshbhai Lunagariya | Director | 07 Dec 2017 | 8 Years 10 Months | As last reported |
Peer comparison
Shree Shiddhanath Cotex Private Limited is compared with the 7 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 |
|---|---|---|---|---|---|---|
| Premier SPG and WVG Mills Private Limited | ₹380.56 Cr (FY 2025) | 12.0% | Coimbatore, Tamil Nadu, India | |||
| Ginni Filaments Limited. | ₹379.5 Cr (FY 2025) | 8.0% | Dadri, Uttar Pradesh, India | |||
| Blueocean Ecotech Limited | ₹379.25 Cr (FY 2025) | 89.0% | Bhopal, Madhya Pradesh, India | |||
| Shree Shiddhanath Cotex Private Limitedthis company | ₹378.86 Cr (FY 2022) | ₹85.49 Lakh | 0.2% | 283.0% | Rajkot, Gujarat, India | |
| Bogmallo Enterprises Limited | ₹378.31 Cr (FY 2024) | 59.0% | Mumbai, Maharashtra, India | |||
| Indoworth India Limited | ₹376.52 Cr (FY 2019) | 11.0% | Nagpur, Maharashtra, India | |||
| Paramount Textile Mills Private Limited | ₹375.73 Cr (FY 2025) | 19.0% | Madurai, Tamil Nadu, India | |||
| BRFL Textiles Private Limited | ₹371.42 Cr (FY 2025) | -22.0% | Palghar, Maharashtra, India |
To see the full peer comparison of Shree Shiddhanath Cotex Private Limited, buy the company report.
Auditor
Shree Shiddhanath Cotex Private Limited is audited by VISHAL DAVADA & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VISHAL DAVADA & ASSOCIATES | FY 2022 | 139621W |
Shareholding
The shareholding of Shree Shiddhanath Cotex 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 category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Shree Shiddhanath Cotex Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Dec 2023 | 100853521 | Others | ₹13 Cr | Open | |
| 02 May 2023 | 100719834 | Others | ₹5.53 Cr | Open | |
| 04 Feb 2023 | 100686063 | Others | ₹27 Cr | Open | |
| 29 Dec 2018 | 100231192 | Others | ₹66.59 Cr | Open | |
| 01 Jun 2016 | 100042901 | Others | ₹5 Cr | Satisfied |
To see the full charge records of Shree Shiddhanath Cotex Private Limited, buy the company report.
Total charge records: 10 View all charges
Deals & funding
Shree Shiddhanath Cotex Private Limited has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in November 2014.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Dec 2013 | Funding round | ₹6 Cr | Investors: 3 individuals |
| Aug 2013 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 4 individuals |
| Nov 2010 | Funding round | ₹1.5 Cr | Investors: 4 individuals |
| Oct 2009 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 3 individuals |
To see the full deal history of Shree Shiddhanath Cotex Private 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
Shree Shiddhanath Cotex Private Limited has 26 court cases on record: 2 filed by Shree Shiddhanath Cotex, 24 filed against it. 14 cases are pending and 12 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 24 | 24 | 14 |
| High courts | 2 | 0 | 0 |
Cases on record (5 of 26)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Durgesh Impex Pvt Ltd | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by Hiramoti Tex Chem Pvt. Ltd. - Amrish Parikh | Pending |
| District court, Ahmedabad, Gujarat | Court case (CR EN) | Filed against the company by Durgesh Impex Pvt Ltd | Disposed |
| District court, Bhavnagar, Gujarat | Criminal complaint | Filed against the company by Fakkadanath Industries Naam Ni Bhagidari Pedhi Na Bhagidar Ranjitbhai Jorsangbhai Chavda | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed against the company by H S Enterprises - Hina Sanjay Chhawchharia | Pending |
To see the full case history of Shree Shiddhanath Cotex Private 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
Shree Shiddhanath Cotex Private Limited was last rated by Brickwork on 13 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Brickwork | 13 Oct 2021 |
To see the full credit ratings and regulatory alerts of Shree Shiddhanath Cotex Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Shree Shiddhanath Cotex Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Shree Shiddhanath Cotex has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AALCS7584F1ZY | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Shree Shiddhanath Cotex Private Limited, buy the company report.
Recent activity
Shree Shiddhanath Cotex Private Limited has 24 board changes on record since 2008: 13 appointments and 11 cessations. The latest: Ghanshyambhai Merambhai Herbha ceased to be Director on 23 Oct 2020.
37 earlier events are in the company report.
Frequently asked questions
Shree Shiddhanath Cotex 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.
Shree Shiddhanath Cotex is a company under insolvency, formerly operating as a private limited company based in Rajkot, Gujarat, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 25 March 2008 and is registered under CIN U01405GJ2008PTC053324. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Shree Shiddhanath Cotex has 2 current directors:
- Darshan Ramnikbhai Bhalala - Director
- Viren Sureshbhai Lunagariya - Director
The latest financial statements of Shree Shiddhanath Cotex on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Shree Shiddhanath Cotex is U01405GJ2008PTC053324. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Shree Shiddhanath Cotex has open charges of ₹112.12 Cr and satisfied charges of ₹137.36 Cr as per latest MCA filings.
Shree Shiddhanath Cotex has 26 court cases on record: 2 filed by the company and 24 filed against it. 14 are pending. Most are in the district courts.
Shree Shiddhanath Cotex was incorporated on 25 March 2008. It is registered with the Registrar of Companies, Ahmedabad.
Shree Shiddhanath Cotex has 7 deals on record (4 funding rounds, 3 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in November 2014.
The peers of Shree Shiddhanath Cotex by revenue are Premier SPG and WVG Mills Private Limited, Ginni Filaments Limited, Blueocean Ecotech Limited, Bogmallo Enterprises Limited, Indoworth India Limited and 2 more, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Ghanshyambhai Merambhai Herbha ceased to be Director on 23 Oct 2020. Darshan Ramnikbhai Bhalala was appointed as Director on 17 Oct 2020. Hanshaben Sureshbhai Lunagariya ceased to be Director on 17 Dec 2018. Shree Shiddhanath Cotex has 24 board changes on record in total.