About Indicore Infocomm Private Limited
Data last updated:
Indicore Infocomm Private Limited is a private limited company based in New Delhi, Delhi, India. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 21 April 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U74999DL2017PTC316521. Its GSTIN is 09AAECI4753P1ZX (Uttar Pradesh). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹2.5 Lakh and a paid-up capital of ₹2.04 Lakh. It is led by directors including Chirag Dineshbhai Shah and Ravi Natvarlal Ruparelia.
Its last annual general meeting (AGM) was held on 16 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at F – 278 A U/G/F Gali No – 21, New Delhi, Delhi, India – 110092.
As per the financials filed for FY 2025, the company reported a revenue of ₹474.05 Cr, a growth of 38% compared to the previous year. For the same year it recorded a net profit of ₹75.79 Lakh (net margin 0.2%) and EBITDA of ₹1.11 Cr (EBITDA margin 0.2%). Revenue has grown at a compounded annual rate (CAGR) of 22% over three years and 16% over five years.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indicore.in.
Company details
Contact details
Indicore Infocomm Private Limited's registered office is in New Delhi, Delhi. Its website is indicore.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressF – 278 A U/G/F Gali No – 21, New Delhi, Delhi, India – 110092
- IndustryInformation Technology, Application Development & Software Solutions
To see the full contact details of Indicore Infocomm Private Limited, 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
Business activity
The main business activity of Indicore Infocomm is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Indicore Infocomm Private Limited, buy the company report.
Financials of Indicore Infocomm Private Limited
FY 2025 filings availableIndicore Infocomm Private Limited reported revenue of ₹474.05 Cr (up 38% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 16% over five years, including 38% growth in the latest year. EBITDA rose 34% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.11 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹75.79 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.2% | ||||
| Net Profit Margin | 0.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Indicore Infocomm Private Limited, buy the company report.
Board of directors of Indicore Infocomm Private Limited
Indicore Infocomm has 5 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chirag Dineshbhai Shah | Director | 16 Feb 2024 | 2 Years 8 Months | Current |
| Ravi Natvarlal Ruparelia Also directs: Mos Utility Limited, JC Ventures Private Limited, Mos Logconnect Private Limited and 2 more | Director | 16 Feb 2024 | 2 Years 8 Months | Current |
| Bharat Yadav Also directs: Isewa Sarvhit Foundation | Director | 07 Mar 2018 | 8 Years 7 Months | Current |
| Rakesh Arora Also directs: White Magic Retail Private Limited, Indigrow E-Commerce Private Limited, Indimoney Finserve Private Limited and 2 more | Director | 21 Apr 2017 | 9 Years 6 Months | Current |
| Aman Arora Also directs: White Magic Retail Private Limited, Indigrow E-Commerce Private Limited, Indimoney Finserve Private Limited and 2 more | Director | 21 Apr 2017 | 9 Years 6 Months | Current |
Peer comparison
Indicore Infocomm Private Limited is compared with the 5 companies closest to it by revenue in the BFSI industry (Payment Solution Providers), with the same principal business activity (other information & communication service activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mindsarray Network Private Limited | ₹555.1 Cr (FY 2025) | 9.0% | Mumbai, Maharashtra, India | |||
| Juspay Technologies Private Limited | ₹539.52 Cr (FY 2025) | 55.0% | Bengaluru, Karnataka, India | |||
| TFC Digital Private Limited | ₹514.34 Cr (FY 2025) | 17.0% | New Delhi, Delhi, India | |||
| Indicore Infocomm Private Limitedthis company | ₹474.05 Cr (FY 2025) | ₹75.79 Lakh | 0.2% | 38.0% | New Delhi, Delhi, India | |
| Spice Money Limited | ₹459.78 Cr (FY 2024) | 4.0% | New Delhi, Delhi, India | |||
| Yoke Payment India Private Limited | ₹433.83 Cr (FY 2025) | 3531.0% | New Delhi, Delhi, India |
To see the full peer comparison of Indicore Infocomm Private Limited, buy the company report.
Auditor
Indicore Infocomm Private Limited is audited by Rakesh P L Malhotra & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Rakesh P L Malhotra & Co | FY 2023 | 022223N |
Shareholding
The shareholding of Indicore Infocomm Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Indicore Infocomm Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving Indicore Infocomm Private Limited 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 Indicore Infocomm Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Indicore Infocomm has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 09AAECI4753P1ZX | Uttar Pradesh | Active | 07 Jul 2017 |
| 04AAECI4753P1Z7 | Chandigarh | Active | 21 Dec 2019 |
To see the full GST registrations and return filing status of Indicore Infocomm Private Limited, buy the company report.
Recent activity
Indicore Infocomm Private Limited has 8 board changes on record since 2017: 5 appointments and 3 cessations. The latest: Chirag Dineshbhai Shah ceased to be Additional Director on 29 Sep 2024.
Frequently asked questions
Indicore Infocomm is an active private limited company based in New Delhi, Delhi, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 21 April 2017 (9+ years old) and is registered under CIN U74999DL2017PTC316521.
Indicore Infocomm has 5 current directors:
- Chirag Dineshbhai Shah - Director
- Ravi Natvarlal Ruparelia - Director
- Bharat Yadav - Director
- Rakesh Arora - Director
- Aman Arora - Director
The latest financial statements of Indicore Infocomm on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 16 August 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of Indicore Infocomm is 09AAECI4753P1ZX, registered in Uttar Pradesh. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 04AAECI4753P1Z7 (Chandigarh).
The CIN (Corporate Identification Number) of Indicore Infocomm is U74999DL2017PTC316521. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indicore Infocomm was incorporated on 21 April 2017, making it 9+ years old. It is registered with the Registrar of Companies, Delhi.
The peers of Indicore Infocomm by revenue are Mindsarray Network Private Limited, Juspay Technologies Private Limited, TFC Digital Private Limited, Spice Money Limited, Yoke Payment India Private Limited, all in the BFSI industry (Payment Solution Providers), with the same principal business activity (other information & communication service activities).
Chirag Dineshbhai Shah ceased to be Additional Director on 29 Sep 2024. Ravi Natvarlal Ruparelia ceased to be Additional Director on 29 Sep 2024. Chirag Dineshbhai Shah was appointed as Director on 16 Feb 2024. Indicore Infocomm has 8 board changes on record in total.
Indicore Infocomm can be reached through the website indicore.in. Its registered office is in New Delhi, Delhi, India.
The registered office of Indicore Infocomm is at F – 278 A UGF Gali No – 21, New Delhi, Delhi, India – 110092.
Indicore Infocomm operates in the information technology industry, in the application development and software solutions segment.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
