About Sushitex Industries Private Limited
Data last updated:
Sushitex Industries Private Limited is a private limited company based in Mumbai, Maharashtra, 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 08 July 2010.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U17291MH2010PTC205365. Its GSTIN is 27AAOCS5628P1ZF (Maharashtra).
The company has an authorised share capital of ₹7 Cr and a paid-up capital of ₹6.98 Cr. It is led by directors including Kush Harish Arya and Luv Harish Arya.
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at 1st Floor Roop Industries A. K. Road Sakinaka Andheri (East), Mumbai, Maharashtra, India – 400072.
As per the financials filed for FY 2019, the company reported a revenue of ₹46.77 Cr, a decline of 15% compared to the previous year. For the same year it recorded a net loss of ₹11.65 Cr (net margin -24.9%) and EBITDA of -₹4.64 Cr (EBITDA margin -9.9%). Revenue has declined at a compounded annual rate (CAGR) of 3% over three years.
The company has about 42 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹38.16 Cr on record. Court records list 19 cases involving the company, including 1 filed by the company and 18 filed against it; 12 cases are pending. The company has 7 deals on record (6 funding rounds, 1 secondary share transfer), with disclosed funding of ₹6.97 Cr; the latest was in March 2017. Its 8 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 5 smaller; the largest is Manish Silk Fab Pvt Ltd with revenue of ₹46.83 Cr.
The last known website on record is sushitex.com.
Company details
Contact details
Sushitex Industries Private Limited's registered office is in Mumbai, Maharashtra. Its website is sushitex.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address1st Floor Roop Industries A. K. Road Sakinaka Andheri (East), Mumbai, Maharashtra, India – 400072
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Sushitex Industries 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 Sushitex Industries 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 Sushitex Industries Private Limited, buy the company report.
Financials of Sushitex Industries Private Limited
FY 2019 filings availableSushitex Industries Private Limited reported revenue of ₹46.77 Cr (down 15% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 3% over three years, including a 15% fall in the latest year. EBITDA fell 156% 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 | ₹46.77 Cr | ||||
| Other Income | |||||
| Total Revenue | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | -₹4.64 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹11.65 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -9.9% | ||||
| Net Profit Margin | -24.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Sushitex Industries Private Limited, buy the company report.
Board of directors of Sushitex Industries Private Limited
Sushitex Industries has 4 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kush Harish Arya Also directs: Blufab Fashion Fabrics LLP | Director | 21 Jul 2010 | 16 Years 3 Months | As last reported |
| Luv Harish Arya Also directs: Sushila Fabrics Private Limited | Director | 21 Jul 2010 | 16 Years 3 Months | As last reported |
| Kamal Kishore Gurnani | Irp/Rp/Liquidator | 25 Jul 2023 | 3 Years 3 Months | As last reported |
| Harish Arya Ramchander | Director | 08 Jul 2010 | 16 Years 4 Months | As last reported |
Peer comparison
Sushitex Industries Private 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 |
|---|---|---|---|---|---|---|
| Manish Silk Fab Pvt Ltd | ₹46.83 Cr (FY 2025) | -21.0% | Ahmedabad, Gujarat, India | |||
| Sri Jayabalaji Spinners Private Limited | ₹46.79 Cr (FY 2024) | -4.0% | Tamil Nadu, India | |||
| Milky Fashion Clothes Private Limited | ₹46.77 Cr (FY 2022) | 49.0% | New Delhi, Delhi, India | |||
| Sushitex Industries Private Limitedthis company | ₹46.77 Cr (FY 2019) | -₹11.65 Cr | -24.9% | -15.0% | 42 | Mumbai, Maharashtra, India |
| Celadon Home Private Limited | ₹46.77 Cr (FY 2024) | 208.0% | Noida, Uttar Pradesh, India | |||
| Konark Synthetic Limited | ₹46.76 Cr (FY 2025) | 5.0% | Mumbai, Maharashtra, India | |||
| Maharaja Dyeing Pvt Ltd | ₹46.76 Cr (FY 2024) | 14.0% | Mumbai, Maharashtra, India | |||
| Saravana Textiles Private Limited | ₹46.69 Cr (FY 2025) | 26.0% | Rajapalayam, Tamil Nadu, India | |||
| Rameshwari Fibres Private Limited | ₹46.68 Cr (FY 2024) | -17.0% | Patiala, Punjab, India |
To see the full peer comparison of Sushitex Industries Private Limited, buy the company report.
Auditor
Sushitex Industries Private Limited is audited by O P GUPTA & ASSOCIATES for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| O P GUPTA & ASSOCIATES | FY 2019 | 124941W |
Shareholding
The shareholding of Sushitex Industries Private Limited is on record for 3 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Sushitex Industries Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Jul 2014 | 10511927 | Bank of India | ₹1 Cr | Open | |
| 07 Feb 2014 | 10480572 | Others | ₹4.08 Cr | Open | |
| 04 Jul 2012 | 10368253 | Bank of India | ₹1 Cr | Open | |
| 06 Sep 2010 | 10241346 | Others | ₹32.08 Cr | Open |
To see the full charge records of Sushitex Industries Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Sushitex Industries Private Limited has 7 deals on record (6 funding rounds, 1 secondary share transfer), with disclosed funding of ₹6.97 Cr; the latest was in March 2017.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2017 | Funding round | ₹48 Lakh | Investors: an individual |
| Mar 2016 | Funding round | ₹40,000 | Investors: Gopy Synthetics Private Limited, Shree Hari Fabrics Private Limited, Kalp Corporation |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Sushila Fabrics Private Limited , 3 individuals |
| Mar 2012 | Funding round | ₹2.45 Cr | Investors: Sushila Fabrics Private Limited , 3 individuals |
| Sep 2010 | Funding round | ₹2.53 Cr | Investors: Sushila Fabrics Private Limited , Smriti Silk & Synth Private Limited, 2 individuals |
To see the full deal history of Sushitex Industries 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
Sushitex Industries Private Limited has 19 court cases on record: 1 filed by Sushitex Industries, 18 filed against it. 12 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 16 | 15 | 10 |
| High courts | 2 | 2 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed against the company by Makharia Machineries Pvt Ltd Through Its Representative Bipin Bansilal Vani | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (SUMMONS FOR JUDGT) | Filed against the company by Samosaran Yarns Pvt. Ltd. Through Dilip G. Shah | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (SUMMARY CIVIL SUIT) | Filed against the company by Samosaran Yarns Pvt. Ltd. Through Dilip G. Shah | Pending |
| District court, Thane, Maharashtra | Court case (Sum.Civ.Suit) | Filed against the company by Usha Fashions Pvt. Ltd. and 2 others | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Incred Financial Services Ltd | Pending |
To see the full case history of Sushitex Industries 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Sushitex Industries Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Sushitex Industries Private Limited has a workforce of 42 employees on its EPFO records as of Apr 04, 2024, across 1 active EPFO establishment.
GST
Sushitex Industries has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAOCS5628P1ZF | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sushitex Industries Private Limited, buy the company report.
Recent activity
Sushitex Industries Private Limited has 6 board changes on record since 2010: 4 appointments and 2 cessations. The latest: Kamal Kishore Gurnani was appointed as Irp/Rp/Liquidator on 25 Jul 2023.
4 earlier events are in the company report.
Frequently asked questions
Sushitex Industries 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.
Sushitex Industries is a company under insolvency, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 08 July 2010 and is registered under CIN U17291MH2010PTC205365. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Sushitex Industries has 4 current directors:
- Kush Harish Arya - Director
- Luv Harish Arya - Director
- Harish Arya Ramchander - Director
- Kamal Kishore Gurnani - Irp/Rp/Liquidator
The latest financial statements of Sushitex Industries on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Sushitex Industries is U17291MH2010PTC205365. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sushitex Industries has open charges of ₹38.16 Cr and no satisfied charges on record as per latest MCA filings.
Sushitex Industries has 19 court cases on record: 1 filed by the company and 18 filed against it. 12 are pending. Most are in the district courts.
Sushitex Industries was incorporated on 08 July 2010. It is registered with the Registrar of Companies, Mumbai.
Sushitex Industries has 7 deals on record (6 funding rounds, 1 secondary share transfer), with disclosed funding of ₹6.97 Cr; the latest was in March 2017.
The peers of Sushitex Industries by revenue are Manish Silk Fab Pvt Ltd, Sri Jayabalaji Spinners Private Limited, Milky Fashion Clothes Private Limited, Celadon Home Private Limited, Konark Synthetic Limited and 3 more, all in the Manufacturing industry (Textiles), with the same principal business activity (textile, leather and other apparel products).
Kamal Kishore Gurnani was appointed as Irp/Rp/Liquidator on 25 Jul 2023. Dinesh Ram Arya ceased to be Director on 01 Jan 2015. Urmil Dinesh Arya ceased to be Director on 01 Jan 2015. Sushitex Industries has 6 board changes on record in total.
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