Varnika Industries Private Limited
About Varnika Industries Private Limited
Data last updated:
Varnika Industries Private Limited is a private limited company based in Hyderabad, Telangana, 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 electronics manufacturing segment of the consumer electronics and durables sector. It was incorporated on 18 March 2013.
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN U31908TG2013PTC086443. The company has 3 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹1 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors Srinivasa Rao Balivada and Naga Mohan Kalapala.
Its last annual general meeting (AGM) was held on 30 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at First Floor Sai Arcade 1 – 8 – 619 (29/2Rt) Prakashnagar, Hyderabad, Telangana, India – 500016.
As per the financials filed for FY 2017, the company reported a revenue of ₹2.75 Lakh, a growth of 86% compared to the previous year. For the same year it recorded a net profit of ₹57,682 (net margin 21%) and EBITDA of ₹58,358 (EBITDA margin 21.2%). Revenue has declined at a compounded annual rate (CAGR) of 91% over three years.
Court records list 7 cases involving the company, including 2 filed by the company and 5 filed against it.
Company details
CIN history
Varnika Industries has one previous CIN (Corporate Identification Number): U31908AP2013PTC086443. The current CIN is U31908TG2013PTC086443, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U31908TG2013PTC086443 | Current |
| U31908AP2013PTC086443 | Previous |
Contact details
Varnika Industries Private Limited's registered office is in Hyderabad, Telangana. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressFirst Floor Sai Arcade 1 – 8 – 619 (29/2Rt) Prakashnagar, Hyderabad, Telangana, India – 500016
- IndustryConsumer Electronics & Durables, Electronics Manufacturing
To see the full contact details of Varnika 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 Varnika Industries is manufacturing. In detail, this covers computer, electronic, communication and scientific measuring & control equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C9 | Computer, electronic, Communication and scientific measuring & control equipment |
To see the full business activity and turnover split of Varnika Industries Private Limited, buy the company report.
Financials of Varnika Industries Private Limited
FY 2017 filings availableVarnika Industries Private Limited reported revenue of ₹2.75 Lakh (up 86% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue rose 86% in the latest year, though over three years it has declined at a compounded annual rate (CAGR) of 91%. EBITDA rose 17% 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | ₹2.75 Lakh | ||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | ₹58,358 | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | ₹57,682 | ||
| 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | 21.2% | ||
| Net Profit Margin | 21% | ||
| 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 Varnika Industries Private Limited, buy the company report.
Board of directors of Varnika Industries Private Limited
Varnika Industries has 2 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Naga Mohan Kalapala Also directs: LMR Electronics and Systems Private Limited | Additional Director | 01 Dec 2017 | 8 Years 10 Months | As last reported |
| Srinivasa Rao Balivada | Director | 01 Dec 2017 | 8 Years 10 Months | As last reported |
Auditor
Varnika Industries Private Limited is audited by MAHENDER & CO for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MAHENDER & CO | FY 2017 | 012854S |
Shareholding
The shareholding of Varnika Industries Private Limited is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Varnika Industries Private Limited, buy the company report.
Legal cases
Varnika Industries Private Limited has 7 court cases on record: 2 filed by Varnika Industries, 5 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 4 | 4 | 0 |
| NCLT | 3 | 1 | 0 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, Court I | Tribunal matter | Filed against the company by Tushara Energy Ventures Pvt Ltd | Disposed |
| NCLAT, NCLAT Chennai | Interim or miscellaneous application | Filed against the company by Tushara Energy Ventures Pvt Ltd | Disposed |
| NCLT, Hyderabad | Insolvency matter | Filed against the company by Serwel Electronics Pvt Ltd | Disposed |
| NCLT, Hyderabad | Insolvency matter | Filed by the company against Tushara Energy Ventures Pvt Ltd | Disposed |
| NCLT, Hyderabad | Insolvency matter | Filed by the company | Disposed |
To see the full case history of Varnika 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 Varnika Industries Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Varnika Industries has 3 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Varnika Industries Private Limited, buy the company report.
Recent activity
Varnika Industries Private Limited has 7 board changes on record since 2017: 2 appointments and 5 cessations. The latest: Kishore Kuchimanchi ceased to be Additional Director on 05 Jun 2018.
Frequently asked questions
Varnika 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.
Varnika Industries is a company under insolvency, formerly operating as a private limited company based in Hyderabad, Telangana, India. The company works in electronics manufacturing, within the consumer electronics and durables industry. It was incorporated on 18 March 2013 and is registered under CIN U31908TG2013PTC086443. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Varnika Industries has 2 current directors:
- Naga Mohan Kalapala - Additional Director
- Srinivasa Rao Balivada - Director
The latest financial statements of Varnika Industries on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 30 September 2017. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Varnika Industries is U31908TG2013PTC086443. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Varnika Industries has 7 court cases on record: 2 filed by the company and 5 filed against it. Most are in the nclat.
Varnika Industries was incorporated on 18 March 2013. It is registered with the Registrar of Companies, Hyderabad.
Kishore Kuchimanchi ceased to be Additional Director on 05 Jun 2018. Manojkumar Adiraju ceased to be Additional Director on 05 Jun 2018. Naga Mohan Kalapala was appointed as Additional Director on 01 Dec 2017. Varnika Industries has 7 board changes on record in total.
The registered office of Varnika Industries is at First Floor Sai Arcade 1 – 8 – 619 292Rt Prakashnagar, Hyderabad, Telangana, India – 500016.
No. Varnika Industries has 3 GST registrations on record and all of them are cancelled or inactive.
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