Scarnose International Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as a Private Limited Company in the name of “Chordia Agro Products Private Limited” on April 12, 2011 under the provisions of the Companies Act, 1956 bearing Corporate Identification Number U15400GJ2011PTC064911 issued by the Registrar of Companies - Gujarat, Dadra & Nagar Haveli. Subsequently, name of the company changed to “Scarnose International Private Limited” vide a fresh certificate of incorporation dated July 26, 2018 issued by Registrar of Companies - Ahmedabad. Further, the company was converted into Public Limited Company under the provisions of the Companies Act, 2013 and the name of the Company was changed to “Scarnose International Limited” vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated June 21, 2021 bearing Corporate Identification Number U15400GJ2011PLC064911 issued by the Registrar of Companies – Ahmedabad.

The company is mainly engaged in Trading of diverse range of raw cotton, cotton bales & yarn. Currently, the company has started manufacturing of readymade garments through different job workers. These garments are made using printed fabric and solid dyed fabrics. Most of the garments are supplied with extensive value addition involving embroidery, hand embroidery and hand work including beads, sequences. Latest trend, fashion and lifestyle are having an impact while designing its product range. Currently, the company is in textile sector both in trading and manufacturing. The company procures cotton bales from different ginners (A person who operates a Cotton gin i.e., a Cotton engine which quickly and easily separates cotton fibers from their seeds enabling much greater productivity than manual cotton separation) where-by they provide it cotton in the form of bales. The promoters had existing relationship with many mills and factories and tied up with them, wherein the Company sales cotton bales to them. Most of the clients of its Companies are ginners and cotton factories. It provide Cotton Bales in varied specifications and at economical prices.

Having gained experience in this industry, now the company has started manufacturing ladies dress materials particularly Kurtis from the financial year 2021 through outsourcing model and selling in its own domestic brand “Scarnose”. Its product sourcing of best quality at economical prices results in fine variety of raw cotton, bales and yarn and manufactures Kurtis at best possible prices thus keeping its costs low. It has endeavoured to introduce new styles, fits, finishes and have started manufacturing through outsourcing model. It offer an extensive range of designs, colours, styles and patterns of Kurtis. With large number of different colours and styles, customers have a good number of options. Right from the initial stage that involves the client preferences to constructing the most desirable collections, it ensure complete satisfaction to its client.

Business area of the company

Scarnose International is being in the textile and cotton sector from many years and is one of the trusted suppliers of cotton products. The range of its product includes Cotton bales, Yarn, Fabric, Kurtis.

Key Milestones of the Company

• 2011: Incorporation of the company as “Chordia Agro Products Private Limited”.
  
• 2018: name of the company changed to “Scarnose International Private Limited”.
  
• 2019: The company had started its business operation effectively from financial year 2019-20 and started trading of Agro Commodities like Nutrition feeds supplement made of Cereals like Wheat, Bazra etc. and Raw Cotton, Cotton Bales and Yarn.
  
• 2020: The company had crossed turnover of Rs 10 crore in the 1st year of effective business operation in financial year FY 2019-20.
  
• 2020: Exploring the opportunities in the cotton industry and looking at the bright prospects, we started focusing in business of trading of Raw Cotton, Cotton Bales, Yarn.
  
• 2021: The company had crossed turnover of Rs 30 crore in last fiscal financial year i.e., FY 2020-21 and entered into manufacturing of Kurtis, Salwar Suits from the year 2021through outsourcing model.
  
• 2021: The Private Limited got converted into Public Limited and name changed to “Scarnose International Limited”.
  
• 2021: The company got shareholders’ approval for raising the fund through Initial Public Offer (IPO) and get Listed.