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February 12, 2016 10:08 AM ET

Distributors

Company Overview of Wheel & Axle Textiles Ltd

Company Overview

Wheel & Axle Textiles Limited engages in the trading of textiles in India. The company was incorporated in 1988 and is based in Surat, India.

820, Golden Point

Near Telephone Exchange

Begumpura

Falsawadi, Ring Road

Surat,  395002

India

Founded in 1988

Key Executives for Wheel & Axle Textiles Ltd

Chairman, Managing Director and Compliance Officer
Managing Director
Managing Director
Chief Financial Officer
Executive Director
Compensation as of Fiscal Year 2015.

Wheel & Axle Textiles Ltd Key Developments

Wheel & Axle Textiles Ltd Reports Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended September 30, 2015

Wheel & Axle Textiles Ltd. reported unaudited Standalone earnings results for the second quarter and six months ended September 30, 2015. For the quarter, the company reported total income from operations of INR 0 million compared to INR 0.154 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 0.306 million compared to INR 0.057 million a year ago. Profit from ordinary activities before tax was INR 0.013 million compared to loss of INR 0.057 million a year ago. Profit from ordinary activities after tax was INR 0.013 million compared to loss of INR 0.057 million a year ago. Net profit for the period was INR 0.013 million or INR 0.03 per basic and diluted share, compared to loss of INR 0.057 million or INR 0.11 per basic and diluted share, a year ago. For the six months, the company reported total income from operations of INR 0.064 million compared to INR 0.161 million a year ago. Loss from operations before other income, finance costs and exceptional items was INR 0.361 million compared to INR 0.119 million a year ago. Loss from ordinary activities before tax was INR 0.0.042 million compared to INR 0.119 million a year ago. Loss from ordinary activities after tax was INR 0.042 million compared to INR 0.119 million a year ago. Net loss for the period was INR 0.042 million or INR 0.08 per basic share and diluted share, compared to INR 0.119 million or INR 0.24 per basic and diluted share, a year ago.

Wheel & Axle Textiles Ltd Announces Executive Appointments

Wheel & Axle Textiles Ltd. announced that its board meeting held on November 4, 2015, has approved the appointment of Mr. Shailesh Damor as chief financial officer of the company. The company also appointed Mr. Murlibhai Salwani, Mr. Vsudev Salwani and Harishbhai Salwani as managing directors. Harishbhai Salwani was appointed as chairman of the company. He shall also be compliance officer.

Wheel & Axle Textiles Ltd Appoints Mohit Shah and Associates as Statutory Auditor

Wheel & Axle Textiles Ltd. at its board meeting held on November 4, 2015, the board approved the appointment of M/S Mohit Shah and Associated as Statutory Auditor of the company in place of casual vacancy on accounts of resignation of earlier auditors.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 15, 2015
--
Merger/Acquisition
April 15, 2015
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