About Foundation for Science Innovation and Development
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Foundation for Science Innovation and Development is a public not for profit company based in Bengaluru, Karnataka, India, a subsidiary of M/S. Indian Institute Of Science. It operates in the business support services segment of the business services sector. It was incorporated on 08 August 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U73100KA2020NPL137018. Its GSTIN is 29AAECF1802E1Z1 (Karnataka).
It is led by directors including Anil Parameswaransarala Kumar and Balan Gurumoorthy.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Innovation Centre Indian Institute Of Science, Bengaluru, Karnataka, India – 560012.
As per the financials filed for FY 2025, the company reported a revenue of ₹65.31 Cr, a growth of 36% compared to the previous year. For the same year it recorded a net profit of ₹7.43 Cr (net margin 11.4%) and EBITDA of ₹7.72 Cr (EBITDA margin 11.8%). Revenue has grown at a compounded annual rate (CAGR) of 783% over three years.
The company has about 114 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Xray Setu and FSID.
For more details, the company can be reached via its website fsid.iisc.ac.in.
Company details
Contact details
Foundation for Science Innovation and Development's registered office is in Bengaluru, Karnataka. Its website is fsid.iisc.ac.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressInnovation Centre Indian Institute Of Science, Bengaluru, Karnataka, India – 560012
- IndustryBusiness Services, Business Support Services
To see the full contact details of Foundation for Science Innovation and Development, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Foundation for Science Innovation and Development operates two associated brands: Xray Setu and FSID. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| An AI-powered tool for analyzing chest X-rays to support COVID interventions. | xraysetu.com | |
| FSID is engaged in deep science and technology innovation. | fsid-iisc.in |
Business activity
The main business activity of Foundation for Science Innovation and Development is professional, scientific and technical. In detail, this covers scientific research and development.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M5 | Scientific research and development |
To see the full business activity and turnover split of Foundation for Science Innovation and Development, buy the company report.
Financials of Foundation for Science Innovation and Development
FY 2025 filings availableFoundation for Science Innovation and Development reported revenue of ₹65.31 Cr (up 36% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 783% over three years, including 36% growth in the latest year. EBITDA rose 57% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹7.72 Cr | ||||
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| Net Profit (PAT) | ₹7.43 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA Margin | 11.8% | ||||
| Net Profit Margin | 11.4% | ||||
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To see the full financial statements and ratios of Foundation for Science Innovation and Development, buy the company report.
Board of directors of Foundation for Science Innovation and Development
Foundation for Science Innovation and Development has 4 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anil Parameswaransarala Kumar Also directs: Foundation for Bengaluru Science and Technology, Foundation for QC Innovation, Iisc Medical School Foundation and 3 more | Director | 04 Aug 2021 | 5 Years 3 Months | Current |
| Balan Gurumoorthy | Director | 08 Aug 2020 | 6 Years 3 Months | Current |
| Govindan Rangarajan | Director | 11 Dec 2020 | 5 Years 11 Months | Current |
| Usha Vijayraghavan | Director | 28 Mar 2022 | 4 Years 7 Months | Current |
Auditor
Foundation for Science Innovation and Development is audited by K M DIVAKAR for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K M DIVAKAR | FY 2023 | 202542 |
Shareholding
The shareholding of Foundation for Science Innovation and Development is on record for 3 financial years, the latest being FY 2023, split between promoters, domestic institutions and public shareholders.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Public |
To see the full shareholding pattern of Foundation for Science Innovation and Development, buy the company report.
Legal cases
No court or tribunal cases involving Foundation for Science Innovation and Development are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Foundation for Science Innovation and Development; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Foundation for Science Innovation and Development has a workforce of 114 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 114 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 |
To see the full employee and EPFO history of Foundation for Science Innovation and Development, buy the company report.
GST
Foundation for Science Innovation and Development has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECF1802E1Z1 | Karnataka | Active | 24 Feb 2021 |
To see the full GST registrations and return filing status of Foundation for Science Innovation and Development, buy the company report.
Recent activity
Foundation for Science Innovation and Development has 14 board changes on record since 2020: 9 appointments and 5 cessations. The latest: Jayaram Vikram ceased to be Director on 28 Jun 2022.
5 earlier events are in the company report.
Frequently asked questions
Foundation for Science Innovation and Development is an active public not for profit company based in Bengaluru, Karnataka, India. The company works in business support services, within the business services industry. It was incorporated on 08 August 2020 (6+ years old) and is registered under CIN U73100KA2020NPL137018.
Foundation for Science Innovation and Development has 4 current directors:
- Anil Parameswaransarala Kumar - Director
- Balan Gurumoorthy - Director
- Govindan Rangarajan - Director
- Usha Vijayraghavan - Director
The latest financial statements of Foundation for Science Innovation and Development on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Foundation for Science Innovation and Development is 29AAECF1802E1Z1, registered in Karnataka.
The CIN (Corporate Identification Number) of Foundation for Science Innovation and Development is U73100KA2020NPL137018. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Foundation for Science Innovation and Development was incorporated on 08 August 2020, making it 6+ years old. It is registered with the Registrar of Companies, Bangalore.
Jayaram Vikram ceased to be Director on 28 Jun 2022. Usha Vijayraghavan was appointed as Director on 28 Mar 2022. Anil Parameswaransarala Kumar was appointed as Director on 04 Aug 2021. Foundation for Science Innovation and Development has 14 board changes on record in total.
Foundation for Science Innovation and Development can be reached through the website fsid.iisc.ac.in. Its registered office is in Bengaluru, Karnataka, India.
The registered office of Foundation for Science Innovation and Development is at Innovation Centre Indian Institute Of Science, Bengaluru, Karnataka, India – 560012.
Foundation for Science Innovation and Development operates in the business services industry, in the business support services segment.
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