Shree Karni Fabcom Ltd. (India)

The Company engaged in the business of manufacturing of specialized technical textile includes weaving, coated, printing and finishing of grey fabric to produce finished knitted and woven fabrics used in luggage, medical arch support, chairs, shoesand apparels industry. The Company specialize in wide range of fabrics like Woven Fabrics, Knitted Fabrics, Coated Fabrics, 100 polyester and recycled polyester fabric. The Company procure yarns, resin, acrylic and coating chemicals from the domestic marketto manufacture specialized technical textile and sell them to various luggage, medical arch support, chairs, shoes andapparels manufacturers and other textile intermediaries
2018:
The Company was originally formed as a limited liability partnership under the name ‘Shree Karni Fabcom LLP', bearingLLP identification number AAM-1759 pursuant to a certificate of incorporation dated March 7, 2018 issued by the Registrar of Companies, Gujarat at Ahmedabad.
2019:
-The Company commercial production commenced
-The Company was bestowed with an award by VIP Industries Limited, in recognition of our contribution as an esteemed supplier to VIP Industries Limited
2020:
-The Company was bestowed with an award by VIP Industries Limited, in recognition of our contribution towards innovation
-The Supplementary LLP Agreement was executed to amend the deed of limited liability partnership agreement dated December 16, 2022 carried on in the name of M/s IGK Technical Textiles LLP. Pursuant to the Supplementary LLP Agreement, the erstwhile Partners of M/s IGK Technical Textiles LLP, namely, Manoj KumarKarnani, Raj Kumar Agarwal and Rajiv Lakhotia retired from their respective position and the Company was admittedas a new partner in M/s IGK Technical Textiles LLP. Pursuant to the Supplementary LLP Agreement, the capitalcontribution of the remaining partner, Ankur Bhikhabhai Balar was ₹ 66.66 lakhs and of the Company was ₹ 133.34lakhs with profit sharing ratio of 33.33 and 66.67 respectively. Consequently, pursuant to the Supplementary LLPAgreement, M/s IGK Technical Textiles LLP became the subsidiary of our Company, and the Company became thedesignated partner of the said LLP
2022:The Company set up of new manufacturing facility of our Subsidiary at Rajhans Texpa, Palsana, Surat for weaving and coating of technical textiles
2023:
-Subsequently, pursuant to a resolution passed in the meeting of the partners held on November 26, 2022, Shree Karni Fabcom LLP was converted into a private limited company under thename ‘Shree Karni Fabcom Private Limited' and a certificate of incorporation dated April 11, 2023 was issued by theRegistrar of Companies, Central Registration Centre.
-Subsequently, pursuant to a resolution passed by our Board of Directors in their meeting held on October 3, 2023 and by the Shareholders at an extra-ordinary general meeting held onOctober 10, 2023 the Company was converted into a public limited company and consequently the name of our Companywas changed to ‘Shree Karni Fabcom Limited' and a fresh certificate of incorporation dated October 20, 2023 was issuedby the Registrar of Companies, Gujarat at Ahmedabad.
-The corporate identification number of the Company is U47820GJ2023PLC140106.
-The Registered Office of our Company at the time of incorporation was situated at Plot 188,189,190, Block No. 314, Rajhans Texpa, Village Baleshvar, Taluka Palsana, Surat- 394 317, Gujarat, India. Our Company has not changed its Registered Office since incorporation
-The Company has one subsidiary IGK Technical Textiles LLP which is engaged in manufacturing woven fabrics
-The Company was a limited liability partnership as on March 31, 2023, and later as on April 11, 2023 got converted into private limitedcompany, subsequently into public limited company on 20.10.2023 and hence the company had no equity share capital in the previousyears, it had partners fixed capital which has been now reclassified under shareholder s equity.
-The Board of Directors, at its meeting held on June 12, 2023, approved the Bonus issue of shares in the ratio of 4:1 to the existingshareholders of the company and accordingly the Board of Directors, at its meeting held on July 15, 2023 approved the allotment ofequity bonus shares of 40,00,000 (Forty Lakhs Shares) Equity Shares of ₹ 10/- each which resulted in increase in paid-up, issued andsubscribed equity shares capital of the Company from 10,00,000 equity shares to 50,00,000 equity shares face value of ₹ 10/- pershare.
-As in the reporting period of restated financials, the company was a Limited Liability Partnership and accordingly the provisions ofcompanies' act, 1956 or companies act, 2013 were not applicable, as the case may be, in respect of rates of depreciation charged onfixed assets. However, in the current period financials, the company has adopted the method and rates of depreciation in terms ofSchedule XIV of companies' act, 1956 or Schedule II of companies' act, 2013, as applicable in respective financial year. The companyhas recalculated the depreciation since financial year 2018-19 and accordingly, retrospective impact has been given in the financials,hence adjustments due to the change in accounting policy has been made.
2024: The Company equity sharesNational Stock Exchange on Thursday, March 14, 2024