Pradip Overseas Ltd.
Snapshot View

1.00 ▼0%

26 July 2021, 03:31:07 P.M.

Overview View Details

Sector Textile Compare with Sector peers
Industry Textile Compare with Industry peers
Website http://www.pradipoverseas.com
Financial Indicators
Market Cap 4.84 Cr.
Earnings per share (EPS) -36.21 Trailing Twelve Months Ending 2021-03
Price-Earning Ratio (PE) - Trailing Twelve Months Ending 2021-03
Industry PE 24.02 Trailing Twelve Months Ending 2021-03
Book Value / Share -213.76 Trailing Twelve Months Ending 2021-03
Price to Book Value 0.00 Calculated using Price: 1.00
Dividend Yield 0.00 Period Ending 2020-03
No. of Shares Subscribed 4.84 Cr. 48,440,183 Shares
FaceValue 10
Company Profile

The company was originally formed as a partnership firm in the name and style of  Vishal Textile vide partnership deed dated April 13, 2005. The name of the firm was changed from Vishal Textile to Chetan Textiles vide supplementary deed of partnership dated June 15, 2005. Subsequently, Chetan Textiles was converted into a company under part IX of the Act bearing the name as “Chetan Textiles Private Limited” under part IX of the Act vide certificate of incorporation dated June 29, 2005. Subsequently, the company was converted into a public limited company vide fresh certificate of incorporation dated August 09, 2006 bearing the name “Chetan Textiles Limited”. Pursuant to the Scheme of Demerger, the textile division of erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited) merged into “Chetan Textiles Limited” and consequentially the name “Chetan Textiles Limited” was changed to “Pradip Overseas Limited” vide fresh certificate of incorporation dated October 01, 2007.

The company is one of the few textile manufacturers with niche focus on Home Linen Products of both, wider width and narrow width. In addition to the sales in the domestic markets, its products are being exported to markets in more than twenty countries (directly and indirectly). The current manufacturing capacity is 136.50 million metres per annum with an average capacity utilization of 92%. Its existing facility is located at Changodar near Ahmedabad in Gujarat. The company is enhancing its capacities to 169.50 million metres per annum in order to meet the expanding demand and further consolidate its position in the home linen market. The expansion project is being implemented at the Proposed Textile SEZ being promoted by it near Ahmedabad in Gujarat.

It has been certified as conforming to the Quality Management System Standard ISO 9001:2008 covering the supply of dyed and printed fabrics. Further, its existing manufacturing facility at, Charcharwadi – Vasana Sarkhej, Bhavla Highway, Opposite Zydus Cadila, Near Prakash Solvent, Changodhar, Ahmedabad, Gujarat, India, has been granted authorization according to Oeko-Tex Standard 100 to use the Oeko-Tex mark for articles, namely bed sets (made-ups), woven fabrics made out of 100% cotton and polyster, bleached, reactive dyed, reactive printed, dispersed dyed and dispersed printed and pigment printed (inclusive sewing threads, buttons and zippers), produced by using material certified according to Oeko-Tex Standard 100. Further, after implementation of the Project, It also intends to file applications for obtaining similar certifications for its Proposed Manufacturing Facility.

The company has been constantly making an endeavor to create new and more attractive designs / patterns on its products in order to have an advantage over other players in the market. It has a team of designers who develop the indicative designs received from customers and also develop independent designs and it has an extensive library of designs.

With effect from April 01, 2006, the textile division of erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited) was demerged into the company. Pursuant to the Scheme of Demerger, the name of the Company was changed from Chetan Textiles Limited to Pradip Overseas Limited and a fresh certificate of incorporation was issued by the RoC. Pursuant to the Scheme of Demerger, all the assets and liabilities in the name of the textile division of erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited) were transferred to the Company. Further vide the Scheme of Demerger, the Company allotted 3 fully paid up Equity Shares to every shareholder of the erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited) against every 2 equity shares of face value Rs. 10 each held in erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited).

The company is eligible for benefits under the Technology Upgradation Funds Scheme (TUFS) of the Government of India. Further, the Proposed Manufacturing Facility to be set up by the Company in the Proposed Textile SEZ is also eligible for benefits under the SEZ Act.

Product range of the company:

The company manufactures a range of Home Linen Products which include the following :-

  • Flat and fitted sheets for double and single beds both in Narrow Width and Wider Width.
  • Quilt Covers and Pillow covers
  • Mattress Covers
  • Quilts Poly/Cotton Filled
  • Curtains

Milestones:Pre-incorporation of the company

  • 2003-2004 - Acquisition of defunct textile manufacturing Unit at Changodar, Ahmedabad by erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited), and setting up and operationalization of that Unit to manufacture Narrow Width Home Linen Products.

Post-incorporation of the company

  • 2005- 06 - Commencement of manufacturing of Wider Width Home Linen Products at the Unit I division II of the Company with an installed capcity of 24.96 million metres per annum.
  • 2006- 07 - Increased installed capacity from 24.96 million metres per annum to 79.20 million metres per annum.
  • 2007-08 - The textile unit of erstwhile Pradip Overseas Limited (now Pradip Enterprises Limited) was merged in the Company with effect from April 01, 2006, and subsequently the name of the Company was changed to Pradip Overseas Limited and name of the erstwhile Pradip Overseas Limited was changed to Pradip Enterprises Limited pursuant to the Scheme of Demerger.
  • 2007-08 - Increased installed capacity from 79.20 million metres per annum to 108.50 million metres per annum.
  • 2008-09 - Increased installed capacity from 108.50 million metres per annum to 115.50 million metres per annum.
  • 2009-10 - Increased installed capacity from 115.50 million metres per annum to 136.50 million metres per annum.

Awards, Achievements and Certifications:

  • 2007 - Certified under Global Organic Textile Standard-GOTS(Standards for the processing of fibres from certified organic agriculture).*
  • 2006 - Certified as ISO 9001:2000 (now ISO 9001:2008) (Quality Management System)
  • 2008 - Authorisation to use Oeko-Tex Standard mark for certain cotton and polyester home linen products.Awarded as one of “Gujarat Glories – Most Trusted Companies of 2008” awards instituted by Sara Media Inc in association with Zee Business – the Company stood 29 among the top fifty.
  • 2009 - Authorisation to use Oeko-Tex Standard mark for certain woven fabrics for cotton and polyester home linen products.
  • 2009 - Certified under Organic Exchange (Standards of the Organic Exchange)

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
1 Week
-4.76%
1 Month
-4.76%
3 Month
+11.11%
6 Month
1 Year
+53.85%
2 Year
-9.09%
5 Year
-35.48%
9 years 2012-03 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03
Return on Equity (%) -23.68 -49.44 -171.00
Return on Capital Employed (%) 2.49 -0.82 -0.68 -24.94 -40.78 -38.78 -0.67 0.50 -0.56
Return on Assets (%) -5.47 -8.10 -12.04 -31.19 -29.99 -39.18 -4.11 4.86 -9.01

Balance Sheet View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Shh. Funds 284 172 27 -347 -628 -832 -846 -829 -860
Non Curr. Liab. 411 494 644 1,001 896 944 1,158 1,143 1,166
Curr. Liab. 711 709 773 554 399 235 36 43 27
Minority Int.
Equity & Liab. 1,406 1,375 1,444 1,208 666 347 347 357 333
Non Curr. Assets 176 153 138 159 149 131 121 117 106
Curr. Assets 1,230 1,222 1,306 1,049 517 217 226 240 227
Misc. Exp. not W/O
Total Assets 1,406 1,375 1,444 1,208 666 347 347 357 333

Profit Loss View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Net Sales 1,670 943 599 240 238 160 104 96 38
Other Income 20 21 5 4 17 4 4 5 5
Total Income 1,690 964 604 244 254 164 107 101 43
Total Expenditure -1,652 -967 -605 -552 -646 -424 -102 -88 -37
PBIDT 38 -3 -1 -308 -391 -261 6 13 6
Interest -145 -145 -131 -114 -10 -9 -8 -9 -10
Depreciation -7 -8 -8 -7 -9 -10 -10 -10 -10
Taxation 38 44 -30 16 129 81 -3 23 -18
Exceptional Items
PAT -76 -113 -170 -414 -281 -199 -14 17 -31

Cash Flow View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Cash Fr. Operatn. -141 -72 -120 -65 140 -65 -5 -4 0
Cash Fr. Inv. -35 58 59 6 14 5 3 4 5
Cash Fr. Finan. 169 16 60 56 -154 61 2 0 -5
Net Change -8 2 -1 -3 0 0 0 0 0
Cash & Cash Eqvt 3 6 4 1 1 1 1 1 0

Shareholding Pattern View Details

9 Qtrs 2019-06 (%) 2019-09 (%) 2019-12 (%) 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%) 2021-06 (%)
Promoter 53.25 53.25 53.25 53.25 53.25 53.25 53.25 53.25 53.25
Public 46.75 46.75 46.75 46.75 46.75 46.75 46.75 46.75 46.75
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 99.51 99.51 99.51 99.51 99.51 99.51 99.51 99.51 99.51

Announcements View Details

Tue, 20 Jul 2021
Certificate under SEBI (Depositories and Participants) Regulations, 2018
Pradip Overseas Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June, 2021 as received from the RTA i.e. Link Intime India Private Limited.
Mon, 19 Jul 2021
Certificate under SEBI (Depositories and Participants) Regulations, 2018
Pradip Overseas Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June, 2021 as received from the RTA i.e. Link Intime India Private Limited.
Fri, 09 Jul 2021
Related Party Transactions
Pradip Overseas Limited has informed the Exchange about related Party Transactions for the period of 01st October, 2020 to 31st March, 2021 under the Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Technical Scans View Details

Mon, 26 Jul 2021
Strongly Outperforming Benchmark Index Strongly Outperforming Benchmark Index
Strongly Outperforming Sectoral Index Strongly Outperforming Sectoral Index
Both SRS And ARS Above Zero Both SRS And ARS Above Zero
NR 4 NR 4
NR 4 Breakdown NR 4 Breakdown

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