Swastik Spinners (India) Private Limited
About Swastik Spinners (India) Private Limited
Data last updated:
Swastik Spinners (India) Private Limited is a private limited company based in Chennai, Tamil Nadu, 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 30 November 2012.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U17122TN2012PTC088721. Its GSTIN is 33AASCS3336E1ZC (Tamil Nadu). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1 Cr. It is led by directors Sevugan Chettiar Ramasamy (Managing Director) and Girish Ramaswamy.
Its last annual general meeting (AGM) was held on 12 September 2018, and its latest financial statements are for the year ended 31 March 2018. The registered office is at No.22/1 Ormes Road Kilpauk, Chennai, Tamil Nadu, India – 600010.
As per the financials filed for FY 2018, the company reported a revenue of ₹4.66 Cr, a growth of 4% compared to the previous year. For the same year it recorded a net loss of ₹82.95 Lakh (net margin -17.8%) and EBITDA of -₹53.46 Lakh (EBITDA margin -11.5%).
As per MCA filings, the company has open charges of ₹7.14 Cr on record. Court records list 7 cases involving the company, including 6 filed by the company and 1 filed against it; 1 case is pending.
Company details
Contact details
Swastik Spinners (India) Private Limited's registered office is in Chennai, Tamil Nadu. Its e-mail address is in the company report.
- Email
- Registered AddressNo.22/1 Ormes Road Kilpauk, Chennai, Tamil Nadu, India – 600010
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Swastik Spinners (India) 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 Swastik Spinners (India) is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products |
To see the full business activity and turnover split of Swastik Spinners (India) Private Limited, buy the company report.
Financials of Swastik Spinners (India) Private Limited
FY 2018 filings availableSwastik Spinners (India) Private Limited reported revenue of ₹4.66 Cr (up 4% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue rose 4% in the latest year. EBITDA fell 65% in the latest 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 | ₹4.66 Cr | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | -₹53.46 Lakh | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | -₹82.95 Lakh | |||
| 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 | -11.5% | |||
| Net Profit Margin | -17.8% | |||
| 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 Swastik Spinners (India) Private Limited, buy the company report.
Board of directors of Swastik Spinners (India) Private Limited
Swastik Spinners (India) has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sevugan Chettiar Ramasamy Also directs: Jothees Spinners (OPC) Private Limited, Vishnu Textiles Limited | Managing Director | 30 Nov 2012 | 13 Years 11 Months | As last reported |
| Girish Ramaswamy | Director | 30 Nov 2012 | 13 Years 11 Months | As last reported |
Auditor
Swastik Spinners (India) Private Limited is audited by V R D & CO for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V R D & CO | FY 2018 | 004476S |
Shareholding
The shareholding of Swastik Spinners (India) Private 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 Swastik Spinners (India) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Aug 2016 | 100063128 | Tamilnad Mercantile Bank Limited | ₹50 Lakh | Open | |
| 20 Mar 2013 | 10423185 | Tamilnad Mercantile Bank Limited | ₹6.64 Cr | Open |
To see the full charge records of Swastik Spinners (India) Private Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
Swastik Spinners (India) Private Limited has 7 court cases on record: 6 filed by Swastik Spinners (India), 1 filed against it. 1 case is pending and 6 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 6 | 0 | 0 |
| NCLAT | 1 | 1 | 1 |
Cases on record (4 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT Chennai | Insolvency matter | Filed against the company by Tamilnadu Mercantile Bank Limited | Pending |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed by the company against an individual | Disposed |
| High Court, TAMIL NADU | Writ petition | Filed by the company against an individual | Disposed |
| High Court, TAMIL NADU | Writ petition | Filed by the company against individuals | Disposed |
To see the full case history of Swastik Spinners (India) 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 Swastik Spinners (India) Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Swastik Spinners (India) has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AASCS3336E1ZC | Tamil Nadu | Active | 01 Jul 2017 |
| 33AASCS3336E2ZB | Tamil Nadu | Active | 01 Mar 2021 |
To see the full GST registrations and return filing status of Swastik Spinners (India) Private Limited, buy the company report.
Recent activity
Swastik Spinners (India) Private Limited has 3 board changes on record since 2012: 2 appointments and 1 cessation. The latest: Sevugan Chettiar Ramasamy ceased to be Director on 25 Feb 2013.
Frequently asked questions
Swastik Spinners (India) 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.
Swastik Spinners (India) is a company under liquidation, formerly operating as a private limited company based in Chennai, Tamil Nadu, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 30 November 2012 and is registered under CIN U17122TN2012PTC088721. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Swastik Spinners (India) has 2 current directors:
- Sevugan Chettiar Ramasamy - Managing Director
- Girish Ramaswamy - Director
The latest financial statements of Swastik Spinners (India) on record with the MCA are for the year ended 31 March 2018. Its last annual general meeting was held on 12 September 2018. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Swastik Spinners (India) is U17122TN2012PTC088721. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Swastik Spinners (India) has open charges of ₹7.14 Cr and no satisfied charges on record as per latest MCA filings.
Swastik Spinners (India) has 7 court cases on record: 6 filed by the company and 1 filed against it. 1 is pending. Most are in the high courts.
Swastik Spinners (India) was incorporated on 30 November 2012. It is registered with the Registrar of Companies, Chennai.
Sevugan Chettiar Ramasamy ceased to be Director on 25 Feb 2013. Girish Ramaswamy was appointed as Director on 30 Nov 2012. Sevugan Chettiar Ramasamy was appointed as Managing Director on 30 Nov 2012.
The registered office of Swastik Spinners (India) is at No.221 Ormes Road Kilpauk, Chennai, Tamil Nadu, India – 600010.
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