About Varun Resources Limited
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Varun Resources Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Varun Corporation Limited. 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 shipping and maritime services segment of the transport and logistics sector. It was incorporated on 06 October 2010.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U61200MH2010PLC208659. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹368.1 Cr and a paid-up capital of ₹151.02 Cr. It was formerly known as Royal Orchid Conreal Private Limited and Varun Resources Private Limited. It is led by directors including Yudhisthir Dilip Khatau (Managing Director) and Srinivasagopalan Ara Amudan.
Its last annual general meeting (AGM) was held on 19 August 2016, and its latest financial statements are for the year ended 31 March 2016. The registered office is at Laxmi Building 6 Shoorji Vallabhdas Marg Ballard Estate, Mumbai, Maharashtra, India – 400001.
As per the financials filed for FY 2016, the company reported a revenue of ₹316.4 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹2.09 Cr (net margin 0.7%) and EBITDA of ₹314.32 Cr (EBITDA margin 99.3%).
As per MCA filings, the company has open charges of ₹6,111.48 Cr and satisfied charges of ₹4,836.74 Cr on record. Court records list 29 cases involving the company, including 4 filed by the company and 25 filed against it; 6 cases are pending.
The last known website on record is varunresources.com.
Company details
Name history
Varun Resources has undergone 2 name changes throughout its history. The company was previously known as Royal Orchid Conreal Private Limited, and Varun Resources Private Limited. The current legal name is Varun Resources Limited.
| Company Name | Status |
|---|---|
| Varun Resources Limited | Current |
| Royal Orchid Conreal Private Limited | Previous |
| Varun Resources Private Limited | Previous |
CIN history
Varun Resources has one previous CIN (Corporate Identification Number): U61200MH2010PTC208659. The current CIN is U61200MH2010PLC208659, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U61200MH2010PLC208659 | Current |
| U61200MH2010PTC208659 | Previous |
Contact details
Varun Resources Limited's registered office is in Mumbai, Maharashtra. Its website is varunresources.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressLaxmi Building 6 Shoorji Vallabhdas Marg Ballard Estate, Mumbai, Maharashtra, India – 400001
- IndustryTransport and Logistics, Shipping & Maritime Services
To see the full contact details of Varun Resources 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 Varun Resources is transport and storage. In detail, this covers water transport.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H3 | Water transport |
To see the full business activity and turnover split of Varun Resources Limited, buy the company report.
Financials of Varun Resources Limited
FY 2016 filings availableVarun Resources Limited reported revenue of ₹316.4 Cr (up 531% YoY) for FY 2016.
Compounded Annual Growth Rate (CAGR)
Revenue rose 531% in the latest year. EBITDA rose 262% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2015-16 | FY 2014-15 |
|---|---|---|
| Profit and Loss Statement | ||
| Revenue from Operations | ||
| Other Income | ||
| Total Revenue | ₹316.4 Cr | |
| Cost of Materials Consumed | ||
| Employee Benefit Expense | ||
| Finance Costs | ||
| Depreciation and Amortisation | ||
| Other Expenses | ||
| Total Expenses | ||
| EBITDA | ₹314.32 Cr | |
| Profit Before Tax | ||
| Tax Expense | ||
| Net Profit (PAT) | ₹2.09 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 2015-16 | FY 2014-15 |
|---|---|---|
| Profitability | ||
| EBITDA Margin | 99.3% | |
| Net Profit Margin | 0.7% | |
| 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 Varun Resources Limited, buy the company report.
Board of directors of Varun Resources Limited
Varun Resources has 3 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Srinivasagopalan Ara Amudan | Director | 01 Feb 2015 | 11 Years 8 Months | As last reported |
| Atul Chandra Varma | Nominee Director | 27 Oct 2015 | 11 Years 0 Months | As last reported |
| Yudhisthir Dilip Khatau Also directs: Varun LPG Carriers Private Limited, Varun Maritime Limited, Varun Global Limited and 4 more | Managing Director | 22 Mar 2012 | 14 Years 7 Months | As last reported |
Peer comparison
Varun Resources Limited is compared with the 3 companies closest to it by revenue in the Shipping industry (Shipping Services), with the same principal business activity (water transport), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mahi Marine Private Limited | ₹324.87 Cr (FY 2025) | 128.0% | Navi Mumbai, Maharashtra, India | |||
| Varun Resources Limitedthis company | ₹316.4 Cr (FY 2016) | ₹2.09 Cr | 0.7% | 531.0% | Mumbai, Maharashtra, India | |
| Apeejay Shipping Ltd | ₹306.35 Cr (FY 2025) | -18.0% | Kolkata, West Bengal, India | |||
| Poompuhar Shipping Corpn Limited | ₹290.71 Cr (FY 2022) | 11.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of Varun Resources Limited, buy the company report.
Auditor
Varun Resources Limited is audited by SORAB S ENGINEER & CO for the financial year 2016.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SORAB S ENGINEER & CO | FY 2016 | 110417W |
Shareholding
The shareholding of Varun Resources Limited is on record for FY 2016, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2016 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Varun Resources Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Mar 2016 | 100025849 | Others | ₹176 Cr | Open | |
| 09 Dec 2015 | 10609565 | Icici Bank Limited | ₹387.44 Cr | Open | |
| 24 Jul 2015 | 10584875 | Sbicap Trustee Company Limited | ₹2,236.6 Cr | Open | |
| 18 Jun 2015 | 10577747 | Export-Import Bank of India | ₹150 Cr | Open | |
| 30 Oct 2014 | 10528739 | State Bank of Bikaner and Jaipur | ₹6 Cr | Open |
To see the full charge records of Varun Resources Limited, buy the company report.
Total charge records: 154 View all charges
Legal cases
Varun Resources Limited has 29 court cases on record: 4 filed by Varun Resources, 25 filed against it. 6 cases are pending and 23 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 19 | 17 | 1 |
| NCLT | 4 | 2 | 0 |
| NCLAT | 3 | 3 | 3 |
| Supreme Court | 2 | 2 | 2 |
| District courts | 1 | 1 | 0 |
Cases on record (5 of 29)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (COMAS) | Filed against the company by Darya Shipping Pvt Ltd | Disposed |
| Bombay High Court | Court case (JO) | Filed against the company by Darya Shipping Pvt Ltd | Disposed |
| Bombay High Court | Writ petition | Filed against the company by Darya Shipping Private Limited | Disposed |
| Bombay High Court | Court case (NMCD) | Filed against the company by Darya Shipping Pvt Ltd | Disposed |
| Bombay High Court | Company petition | Filed against the company by Abb India Limited Formerly Known As Abb Limited and 1 other | Disposed |
To see the full case history of Varun Resources 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 Varun Resources Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Varun Resources has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Varun Resources Limited, buy the company report.
Recent activity
Varun Resources Limited has 15 board changes on record since 2012: 3 appointments and 12 cessations. The latest: Armin Fali Pardiwala ceased to be Director on 26 Feb 2018.
299 earlier events are in the company report.
Frequently asked questions
Varun Resources 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.
Varun Resources is a company under liquidation, formerly operating as a public limited company based in Mumbai, Maharashtra, India. The company works in shipping and maritime services, within the transport and logistics industry. It was incorporated on 06 October 2010 and is registered under CIN U61200MH2010PLC208659. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Varun Resources has 3 current directors:
- Yudhisthir Dilip Khatau - Managing Director
- Srinivasagopalan Ara Amudan - Director
- Atul Chandra Varma - Nominee Director
The latest financial statements of Varun Resources on record with the MCA are for the year ended 31 March 2016. Its last annual general meeting was held on 19 August 2016. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Varun Resources is U61200MH2010PLC208659. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Varun Resources has open charges of ₹6,111.48 Cr and satisfied charges of ₹4,836.74 Cr as per latest MCA filings.
Varun Resources has 29 court cases on record: 4 filed by the company and 25 filed against it. 6 are pending. Most are in the high courts.
Varun Resources was incorporated on 06 October 2010. It is registered with the Registrar of Companies, Mumbai.
The peers of Varun Resources by revenue are Mahi Marine Private Limited, Apeejay Shipping Ltd, Poompuhar Shipping Corpn Limited, all in the Shipping industry (Shipping Services), with the same principal business activity (water transport).
Armin Fali Pardiwala ceased to be Director on 26 Feb 2018. Jamsheed Minoo Panday ceased to be Additional Director on 08 Jun 2017. Venkatakrishnan Ramaswamy Veeravalli ceased to be Company Secretary on 30 May 2017. Varun Resources has 15 board changes on record in total.
Varun Resources can be reached through the website varunresources.com. Its registered office is in Mumbai, Maharashtra, India.