About Textrade International Limited
Data last updated:
Textrade International Limited is a public 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 home furnishings manufacturing segment of the consumer goods sector. It was incorporated on 23 June 2004.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74110MH2004PLC147108. Its GSTIN is 27AACCT0468L1Z2 (Maharashtra). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹11 Cr and a paid-up capital of ₹10.46 Cr. It was formerly known as Textrade International Private Limited. It is led by directors including Anish Bipin Doshi (Managing Director) and Divya Reejwani.
Its last annual general meeting (AGM) was held on 14 April 2021, and its latest financial statements are for the year ended 31 March 2020. The registered office is at 10/11 Shivai Indl Estate89 Kurla – Andheri Road Sakinaka Andheri (E) India, Mumbai, Maharashtra, India – 400072.
As per the financials filed for FY 2020, the company reported a revenue of ₹77.75 Cr, a decline of 68% compared to the previous year. For the same year it recorded a net loss of ₹72.89 Cr (net margin -93.7%) and EBITDA of -₹51.26 Cr (EBITDA margin -65.9%). Revenue has declined at a compounded annual rate (CAGR) of 40% over three years and 25% over five years.
The company has about 59 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Textrade. As per MCA filings, the company has open charges of ₹424.55 Cr and satisfied charges of ₹304.7 Cr on record. Court records list 25 cases involving the company, including 10 filed by the company and 16 filed against it; 1 case is pending. The company has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹30 Cr; the latest was in July 2007. Its 4 peer companies in the Consumer Products industry (Home Furnishings Manufacturers), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 4 larger; the largest is Bhairavnath Exim Private Limited with revenue of ₹79.07 Cr. The company has 4 MSME Form 1 returns on record between 2019 and 2022, listing 153 overdue payments to 13 micro and small suppliers.
The last known website on record is textradeinternational.com.
Company details
CIN history
Textrade International has one previous CIN (Corporate Identification Number): U51494MH2004PLC147108. The current CIN is U74110MH2004PLC147108, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74110MH2004PLC147108 | Current |
| U51494MH2004PLC147108 | Previous |
Contact details
Textrade International Limited's registered office is in Mumbai, Maharashtra. Its website is textradeinternational.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address10/11 Shivai Indl Estate89 Kurla – Andheri Road Sakinaka Andheri (E) India, Mumbai, Maharashtra, India – 400072
- IndustryConsumer Goods, Home Furnishings Manufacturing
To see the full contact details of Textrade International 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
Brands
Textrade International operates one associated brand: Textrade. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufactures and supplies premium home textiles to global brands with ethical standards and innovative designs. | textradeindia.com |
Business activity
The main business activities of Textrade International are manufacturing and trade. In detail, this covers textile, leather and other apparel products and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Textrade International Limited, buy the company report.
Financials of Textrade International Limited
FY 2020 filings availableTextrade International Limited reported revenue of ₹77.75 Cr (down 68% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 25% over five years, including a 68% fall in the latest year. EBITDA rose 28% 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 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹77.75 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹51.26 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹72.89 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 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -65.9% | ||||
| Net Profit Margin | -93.7% | ||||
| 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 Textrade International Limited, buy the company report.
Board of directors and KMP of Textrade International Limited
Textrade International Limited currently reports 3 directors and 1 key managerial person. 14 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bipin Jethalal Doshi Also directs: Worldtex Manufacturing Private Limited | Cfo | 02 Mar 2015 | 11 Years 7 Months | As last reported |
| Divya Reejwani | Director | 11 Jul 2019 | 7 Years 3 Months | As last reported |
| Anish Bipin Doshi Also directs: Worldtex Manufacturing Private Limited | Managing Director | 11 Jul 2007 | 19 Years 3 Months | As last reported |
| Mohd Shahim Kondkari Salim Also directs: Belazio Realcom LLP, Free Spirit Foundation for Social Welfare | Director | 23 May 2019 | 7 Years 5 Months | As last reported |
Peer comparison
Textrade International Limited is compared with the 4 companies closest to it by revenue in the Consumer Products industry (Home Furnishings Manufacturers), 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 |
|---|---|---|---|---|---|---|
| Bhairavnath Exim Private Limited | ₹79.07 Cr (FY 2024) | 3.0% | Ahmedabad, Gujarat, India | |||
| Shingora Textiles Private Limited | ₹79.04 Cr (FY 2025) | 15.0% | Doraha, Punjab, India | |||
| Gaurav Fabrics Pvt Ltd | ₹78.29 Cr (FY 2025) | 5.0% | Gujarat, India | |||
| Nath Brothers Exim International Limited | ₹77.88 Cr (FY 2024) | 6.0% | New Delhi, Delhi, India | |||
| Textrade International Limitedthis company | ₹77.75 Cr (FY 2020) | -₹72.89 Cr | -93.7% | -68.0% | 59 | Mumbai, Maharashtra, India |
To see the full peer comparison of Textrade International Limited, buy the company report.
Auditor
Textrade International Limited is audited by Bijal Hitesh Mehta for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Bijal Hitesh Mehta | FY 2020 | 103153 |
Shareholding
The shareholding of Textrade International Limited is on record for 5 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | 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 Textrade International Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Mar 2019 | 100259305 | Canara Bank | ₹4 Cr | Open | |
| 18 Jul 2017 | 100117106 | Indian Overseas Bank | ₹3 Cr | Open | |
| 06 Oct 2016 | 100068920 | Hdfc Bank Limited | ₹3 Cr | Open | |
| 07 Sep 2015 | 10592424 | Others | ₹2.35 Cr | Open | |
| 26 Mar 2015 | 10562852 | Canara Bank | ₹206.1 Cr | Open |
To see the full charge records of Textrade International Limited, buy the company report.
Total charge records: 30 View all charges
Deals & funding
Textrade International Limited has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹30 Cr; the latest was in July 2007.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2007 | Secondary share transfer | Undisclosed | Buyer: Cle Private Limited , an individual Seller: Reliance Venture Asset Management Limited, an individual |
| Jul 2007 | Secondary share transfer | Undisclosed | Buyer: Cle Private Limited , 3 individuals Seller: Reliance Venture Asset Management Limited, 2 individuals |
| Jul 2007 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2007 | Funding round | ₹30 Cr | Investors: Reliance Venture Asset Management Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Textrade International Limited has 25 court cases on record: 10 filed by Textrade International, 16 filed against it. 1 case is pending and 24 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 18 | 10 | 1 |
| High courts | 6 | 5 | 0 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 25)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Court case (M.C.A.) | Filed by the company against Udit Packaging Private Limited | Disposed |
| High Court of Delhi | Arbitration matter | Filed against the company by Hero Fincorp Limited | Disposed |
| District court, Pune, Maharashtra | Court case (Spl.Sum.Suit) | Filed against the company by Udit Packaging Pvt .Ltd. Through Ahilya Ghadge | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by M/S Epimoney Private Limited | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against M/S.Care Corupack Ltd. | Disposed |
To see the full case history of Textrade International 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
Textrade International Limited was last rated by Care on 18 Aug 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 18 Aug 2021 |
To see the full credit ratings and regulatory alerts of Textrade International Limited, buy the company report.
MSME payment delays
Textrade International Limited has 4 MSME Form 1 returns on record between 2019 and 2022, listing 153 overdue payments to 13 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 13)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Cann Copier Services Private Limited | |||
| L&E India Private Limited | |||
| Patel Infotech | |||
| R R Enterprises |
To see the full MSME payment records of Textrade International Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Textrade International Limited has a workforce of 59 employees on its EPFO records as of Apr 05, 2024, across 3 active EPFO establishments.
GST
Textrade International has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCT0468L1Z2 | Maharashtra | Active | 01 Jul 2017 |
| 24AACCT0468L1Z8 | Gujarat | Active | 01 Jul 2017 |
| 24AACCT0468L2Z7 | Gujarat | Active | 29 Jul 2017 |
To see the full GST registrations and return filing status of Textrade International Limited, buy the company report.
Recent activity
Textrade International Limited has 17 board changes on record since 2007: 4 appointments and 13 cessations. The latest: Divya Reejwani was appointed as Director on 11 Jul 2019.
73 earlier events are in the company report.
Frequently asked questions
Textrade International 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.
Textrade International is a company under insolvency, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in home furnishings manufacturing, within the consumer goods industry. It was incorporated on 23 June 2004 and is registered under CIN U74110MH2004PLC147108. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Textrade International has 4 current directors and KMP:
- Anish Bipin Doshi - Managing Director
- Divya Reejwani - Director
- Mohd Shahim Kondkari Salim - Director
- Bipin Jethalal Doshi - Cfo
The latest financial statements of Textrade International on record with the MCA are for the year ended 31 March 2020. Its last annual general meeting was held on 14 April 2021. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Textrade International is U74110MH2004PLC147108. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Textrade International has open charges of ₹424.55 Cr and satisfied charges of ₹304.7 Cr as per latest MCA filings.
Textrade International has 25 court cases on record: 10 filed by the company and 16 filed against it. 1 is pending. Most are in the district courts.
Textrade International was incorporated on 23 June 2004. It is registered with the Registrar of Companies, Mumbai.
Textrade International has 4 deals on record (3 secondary share transfers, 1 funding round), with disclosed funding of ₹30 Cr; the latest was in July 2007.
The peers of Textrade International by revenue are Bhairavnath Exim Private Limited, Shingora Textiles Private Limited, Gaurav Fabrics Pvt Ltd, Nath Brothers Exim International Limited, all in the Consumer Products industry (Home Furnishings Manufacturers), with the same principal business activity (textile, leather and other apparel products).
Divya Reejwani was appointed as Director on 11 Jul 2019. Mohd Shahim Kondkari Salim was appointed as Director on 23 May 2019. Deven Madhusudan Doshi ceased to be Director on 31 Mar 2018. Textrade International has 17 board changes on record in total.
Textrade International has 4 MSME Form 1 returns on record between 2019 and 2022, listing 153 overdue payments to 13 micro and small suppliers. The latest return was filed on 17 May 2022.