About Ipsos Research Private Limited
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Ipsos Research Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Ipsos Sa. It operates in the consumer and professional services segment of the travel and hospitality sector. It was incorporated on 11 June 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74130MH2004PTC146904. Its GSTIN is 27AABCI3609K1ZJ (Maharashtra). The company holds 16 GST registrations, all of them active.
The company has an authorised share capital of ₹16.88 Cr and a paid-up capital of ₹1.01 Cr. It was formerly known as Indica Research Consumer Insights Private Limited and Ipsos Indica Research Private Limited. It is led by directors Rhuta Vinay Wekhande and Ramlingam Suresh.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1701 F Wing Lotus Corporate Park, Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹522.51 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net profit of ₹45.6 Cr (net margin 8.7%) and EBITDA of ₹76.47 Cr (EBITDA margin 14.6%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years and 12% over five years.
The company has about 1,295 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Ipsos. Court records list 18 cases involving the company, including 10 filed by the company and 8 filed against it; 2 cases are pending. The company has 8 deals on record (4 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹26.6 Cr; the latest was in April 2015. The company has 17 MSME Form 1 returns on record between 2019 and 2024, listing 627 overdue payments to 73 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ipsos.com.
Company details
Name history
Ipsos Research has undergone 2 name changes throughout its history. The company was previously known as Indica Research Consumer Insights Private Limited, and Ipsos Indica Research Private Limited. The current legal name is Ipsos Research Private Limited.
| Company Name | Status |
|---|---|
| Ipsos Research Private Limited | Current |
| Indica Research Consumer Insights Private Limited | Previous |
| Ipsos Indica Research Private Limited | Previous |
Contact details
Ipsos Research Private Limited's registered office is in Mumbai, Maharashtra. Its website is ipsos.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No. 1701 F Wing Lotus Corporate Park Off Western Express Highway Goregaon Ea, St, Mumbai, Maharashtra, India – 400063
- IndustryTravel and Hospitality, Consumer Professional Services
To see the full contact details of Ipsos Research 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 Ipsos Research is professional, scientific and technical. In detail, this covers advertising and market research.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M6 | Advertising and market research |
To see the full business activity and turnover split of Ipsos Research Private Limited, buy the company report.
Financials of Ipsos Research Private Limited
FY 2025 filings availableIpsos Research Private Limited reported revenue of ₹522.51 Cr (up 8% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 12% over five years, including 8% growth in the latest year. EBITDA fell 5% 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 | ₹76.47 Cr | ||||
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| Net Profit (PAT) | ₹45.6 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 14.6% | ||||
| Net Profit Margin | 8.7% | ||||
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To see the full financial statements and ratios of Ipsos Research Private Limited, buy the company report.
Board of directors of Ipsos Research Private Limited
Ipsos Research has 2 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramlingam Suresh | Additional Director | 05 Aug 2025 | 1 Years 2 Months | Current |
| Rhuta Vinay Wekhande | Director | 08 May 2023 | 3 Years 5 Months | Current |
Auditor
Ipsos Research Private Limited is audited by KALYANIWALLA & MISTRY LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KALYANIWALLA & MISTRY LLP | FY 2024 | 104607W/W100166 |
Shareholding
The shareholding of Ipsos Research Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
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| Public | |||||
| Others |
To see the full shareholding pattern of Ipsos Research Private Limited, buy the company report.
Deals & funding
Ipsos Research Private Limited has 8 deals on record (4 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹26.6 Cr; the latest was in April 2015.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2015 | Rights issue | ₹19.38 Cr | Investors: Ipsos Pan Africa Holdings Limited, Ipsos SA |
| Jan 2014 | Funding round | ₹8 Cr | Investors: Ipsos SA |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: Ipsos SA Seller: Indica Research Pvt Ltd |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: Indica Research Pvt Ltd |
| Apr 2005 | Secondary share transfer | Undisclosed | Buyer: Indica Research Pvt Ltd Seller: an individual |
To see the full deal history of Ipsos Research Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ipsos Research Private Limited has 18 court cases on record: 10 filed by Ipsos Research, 8 filed against it. 2 cases are pending and 16 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 14 | 7 | 2 |
| District courts | 4 | 1 | 0 |
Cases on record (5 of 18)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, New Delhi, Delhi | Arbitration matter | Filed against the company by Vayam Technologies Ltd | Disposed |
| District court, New Delhi, Delhi | Execution petition | Filed by the company against M/S Vayam Technologies Ltd | Disposed |
| High Court, MAHARASHTRA | Tax appeal | Filed against the company by The Principal Commissioner of Income Tax -2 | Pending |
| Bombay High Court | Writ petition | Filed by the company against Union of India and Anr. | Pending |
| Bombay High Court | Court case (NMA) | Filed against the company by Pr.Commissioner of Income Tax-2 | Disposed |
To see the full case history of Ipsos Research Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Ipsos Research Private Limited has 17 MSME Form 1 returns on record between 2019 and 2024, listing 627 overdue payments to 73 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 73)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Iris Regtech Solutions Limited | |||
| an individual supplier | |||
| Crescendo Transcription Private Limited | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Ipsos Research Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Ipsos Research Private Limited has a workforce of 1,295 employees on its EPFO records as of Oct 08, 2025, across 1 active EPFO establishment.
GST
Ipsos Research has 16 GST registrations: 16 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCI3609K1ZJ | Maharashtra | Active | 01 Jul 2017 |
| 27AABCI3609K2ZI | Maharashtra | Active | 20 Mar 2025 |
| 03AABCI3609K1ZT | Punjab | Active | 01 Jul 2017 |
| 06AABCI3609K1ZN | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ipsos Research Private Limited, buy the company report.
Recent activity
Ipsos Research Private Limited has 18 board changes on record since 2006: 4 appointments and 14 cessations. The latest: Ramlingam Suresh was appointed as Additional Director on 05 Aug 2025.
9 earlier events are in the company report.
News
Frequently asked questions
Ipsos Research is an active private limited company based in Mumbai, Maharashtra, India. The company works in consumer professional services, within the travel and hospitality industry. It was incorporated on 11 June 2004 (22+ years old) and is registered under CIN U74130MH2004PTC146904.
Ipsos Research has 2 current directors:
- Ramlingam Suresh - Additional Director
- Rhuta Vinay Wekhande - Director
The latest financial statements of Ipsos Research on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ipsos Research is 27AABCI3609K1ZJ, registered in Maharashtra. The company has 16 GST registrations in all, of which 16 are active. Other active GSTINs include 27AABCI3609K2ZI (Maharashtra), 03AABCI3609K1ZT (Punjab), 06AABCI3609K1ZN (Haryana).
The CIN (Corporate Identification Number) of Ipsos Research is U74130MH2004PTC146904. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ipsos Research has 18 court cases on record: 10 filed by the company and 8 filed against it. 2 are pending. Most are in the high courts.
Ipsos Research was incorporated on 11 June 2004, making it 22+ years old. It is registered with the Registrar of Companies, Mumbai.
Ipsos Research has 8 deals on record (4 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹26.6 Cr; the latest was in April 2015.
Ramlingam Suresh was appointed as Additional Director on 05 Aug 2025. Benjamin Charles Page ceased to be Additional Director on 28 Sep 2023. Rhuta Vinay Wekhande was appointed as Director on 08 May 2023. Ipsos Research has 18 board changes on record in total.
Ipsos Research has 17 MSME Form 1 returns on record between 2019 and 2024, listing 627 overdue payments to 73 micro and small suppliers. The latest return was filed on 17 May 2024.
Ipsos Research can be reached through the website ipsos.com. Its registered office is in Mumbai, Maharashtra, India.