ABOUT BOMBAY SWADESHI STORES LIMITED
BOMBAY SWADESHI STORES LIMITED was founded in 1905 as ‘The Bombay Swadeshi Co-operative Stores Company Limited’ by Indian Patriot Lokmanya Tilak and eminent industrialist Ratanji Jamsetji Tata. It was established with an idea to promote Indian-made products during the Swadeshi Movement in India. Since then, the store is preserving India’s rich heritage.
In 1995, The company was rebranded as Bombay Swadeshi Stores Limited. Bombay Swadeshi Stores Limited offers a platform for the next generations to know and learn about the country’s culture and history. The company is popular for its artistic products offering.
The Bombay Swadeshi Stores Limited offers a wide range of artifacts, home decor accessories, bedroom furnishing, tableware & a complete range of fashion accessories. The products offered by the company are the most exclusive range depicting the rich culture and heritage of India.
In FY 2021, Bombay Swadeshi Stores Limited added 11 stores to its network. They added stores across many different cities of the country like Mumbai, NaviMumbai, Bengaluru, Delhi, Hyderabad, Noida(UP),Ahmedabad, Cochin, Indore, Jaipur, this includes reopening of its hotel boutique store at Jaipur. Now the total number of stores has grown to 31 as of 31st March 2020.
The Bombay Swadeshi Stores Limited was listed on the Bombay Stock Exchange. However, the company delisted itself from the exchange in November 2015.
11 December 1905
Category/Sub-category of the Company
Company Limited by Shares
Address of the Registered office and contact details
Western India House, Sir P.M. Road Fort,
Mumbai 400 001
Tel: (022) 22885048/49
Name, Address and Contact Details of
Registrar and Transfer Agent, if any
Link Intime India Private Limited
C 101, 247 Park,L.B.S.Marg, Vikhroli (West),
Mumbai – 400083, Maharashtra, India
Tel No.: +91-22-4918 6270
PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY
Name and Description of main products/services
NIC Code of the product/service
% to total turnover of the Company
Home Décor, Home Furnishings andGift Items (Retail Trade)
BOARD OF DIRECTORS
Mrs. Madhu Chandak (Director)
Mrs. Manjri Chandak (Director)
Mrs. Jyoti Kabra (Director)
Mr. Santanu Ghosh (Chief Executive Officer)
PARTICULARS OF SUBSIDIARY COMPANIES
Name of the Company
% of shares held
Bombay Store Retail Company Limited
BOMBAY SWADESHI STORES LIMITEDSHARE DETAILS
Total Available Shares:
Rs. 2 Per Equity Share
Last Traded Price:
Rs. 98.80 Crore
(As on 31-03-2020)
Number of shares
% of total Shares of the company
Madhu Abhay Chandak (Promoter)
Jyoti Varun Kabra(Promoter)
Manjri Aditya Chandak(Promoter)
The handloom and handicraft industry is the backbone of the rural economy of India, it's the second-largest rural income provider after agriculture and accounts for a significant share in the country’s exports.
Official estimates suggest that India is home to 7 million artisans, however, data from unofficial sources indicate that the number is as high as 200 million. This difference is huge because of the informal and unorganized nature of this sector.
Indian handicrafts are exported to many countries, with the top destinations being the UK, USA, Germany, UAE, Latin American countries (LAC), France, Italy, Canada, Netherlands, and Australia. The items, which account for a major share of export turnover, include - art metalware, hand-printed textiles, woodware, hand-knotted and embroidered textiles, stoneware, leather goods, paintings and sculpture, jewelry, and antique & collectibles.
The scope of the handicrafts industry in India is promising - be it the traditional Indian arts and crafts or a customized version of an overseas art form. Unlike in the past when the industry was struggling to carve a niche in the market, there is a great demand for Indian handicrafts today that is being nurtured by different government and non-governmental organizations.
Additionally, the Government of India increased incentive rates under the Merchandise Export from India Scheme (MEIS) from 5% to 7% for handicraft items. This will help exporters to recover the input costs involved in the manufacturing of handicrafts and will lead to competitive pricing and boost export.
The industrial revolution and the increasing productivity had slowed down the growth and the quality of arts and crafts, but for some decades now, the scenario has changed and machine-made products no longer attract people. Presently handicrafts are being considered as vocational media and it also opts for style statement and the leisure pursuit.
KEY FINANCIALS OF BOMBAY SWADESHI STORES LIMITED(In Rs. Lakhs)
Revenue from Operations
Profit Before Tax
Profit After Tax (PAT)
BALANCE SHEET OF BOMBAY SWADESHI STORES LIMITED(In Rs. Lakhs)
NON CURRENT ASSETS
Non Current Investments
Long-Term Loans and Advances
Other non current assets
TOTAL NON CURRENT ASSETS
Cash and Cash Equivalents
Short Term Loans and Advances
Other Current Assets
TOTAL CURRENT ASSETS
EQUITY AND LIABILITIES
Reserves and Surplus
NON CURRENT LIABILITIES
TOTAL NON CURRENT LIABILITIES
Short Term Borrowings
Other Current Liabilities
TOTAL CURRENT LIABILITIES
TOTAL EQUITY AND LIABILITIES
Dividend (final + interim) (In Rs.)
PERFORMANCE OF THE COMPANY
Revenue from operations of the company increased by 36.47% from Rs. 3,977.50 lakhs in FY 2019 to Rs. 5,428.18 lakhs in FY 2020.
Despite increase in revenue, EBITDA of the company fell significantly by 61.58% from Rs. 568.65 lakhs in FY 2019 to Rs. 218.49 lakhs in FY 2020. EBITDA margins fell from 14.30% in FY 2019 to 4.03% in FY 2020.
Net profit of the company sharply fell by 97.30% from Rs. 301.09 lakhs in FY 2019 to Rs. 8.12 lakhs in FY 2020.
The current ratio of the company as of 31st March 2020 was 0.67.
Bombay Swadeshi Stores Limited does not have any long-term or short-term borrowings.
The total book value of the company as of 31st March 2020 was Rs. 245.31 lakhs, which translates to a book value of Rs. 4.97 per equity share.
Bombay Swadeshi Stores Limited has not given any dividend for the past three years.
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