SCARNOSE INTERNATIONAL LI Share price

The Company was originally incorporated as a Private Limited Company in the name of “Chordia Agro Products PrivateLimited” on April 12 2011 under the provisions of the Companies Act 1956 bearing Corporate Identification NumberU15400GJ2011PTC064911 issued by the Registrar of Companies - Gujarat Dadra & Nagar Haveli. Subsequently name ofthe company changed to “Scarnose International Private Limited” vide a fresh certificate of incorporation dated July 262018 issued by Registrar of Companies - Ahmedabad. Further the company was converted into Public Limited Companyunder the provisions of the Companies Act 2013 and the name of the Company was changed to “Scarnose InternationalLimited” vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Companydated June 21 2021 bearing Corporate Identification Number U15400GJ2011PLC064911 issued by the Registrar ofCompanies - Ahmedabad.The Company was established in the year 2011 with the basic object of Trading of agriculture commodities by Mr. Mishrilal Shankarlal Shah (father of Mr. Vimal Shah) Mr. Vimal Shah and their family friend Mr. Pramod Nemichand Chopra. Mr. Vimal who is also a chartered accountant by qualification wanted to corporatize his family owned business of trading in Agro trading business from unorganized to organized corporate structure. Gradually Mr. Vimal who had a far sighted vision wanted to create a niche identity of his own.The Company is owned and managed by professionally qualified persons namely Mr. Vimal Shah and Mr. Hitesh Loonia.Both the promoters come from a family which has been into the business of trading of Cotton Agro Commodities and Textiles and had an inherited business acumen. the company under the able leadership of the promoters have a vision to create a niche business house.Being a professionally qualified person additionally proves and ensures ethical behaviour efficiency and good corporategovernance practices and their background facilitates their core competency which is much needed for a public listed company and its growth.Mr. Vimal Shah is one of the founder Promoter and currently the Managing Director of the Company and is a qualifiedChartered Accountant and Cost Accountant. He is having experience of more than a decade in business and finance. He comes from a family which has been into Agro trading business for more than a decade. He was actively engaged in his family business before and after being professionally qualified and assisted his father in initial years in taking strategic decision making pertaining to corporate and administrative affairs financial operations business development and management of overall business of his family. Presently he looks after the overall business of the Company including procurement and selling of cotton bales exploring new vendors and items.Mr. Hitesh Loonia promoter of the Company is professionally qualified as Chartered Accountant Cost Accountant Company Secretary and having Masters in Commerce. Mr. Hitesh Loonia’s family background is from textile sector specifically dealing in Kurtis and Salwar since last 5 decades approx. He was also actively engaged in his family business before and after being professionally qualified and assisted his father in taking strategic decision making pertaining to corporate and administrative affairs financial operations business development and management of overall business of his family. He is instrumental in developing the business activity of company growth and future prospectus of the company.Both the promoters are close family friends and have the vision far beyond the family members to start a venture of their own and create a niche identity. Mr. Hitesh Loonia who shared common thoughts subsequently joined Mr. Vimal Shah with a common vision. Mr. Vimal Shah surrendered his certificate of practice to become the managing director of the company and take on the business mantle.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 Yarn2020- Company had crossed turnover of Rs 10.00 crores in the 1 st year of effective business operation in financial year FY 2019-20.- 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- Company had crossed turnover of Rs 30.00 crores in last fiscal financial year i.e. FY 2020-21 and entered into manufacturing of Kurtis Salwar Suits from the year 2021through outsourcing model.- The Private Limited got converted into Public Limited and name changed to “Scarnose International Limited”- Company got shareholders’ approval for raising the fund through Initial Public Offer (IPO) and get Listed.