Muthoot Syndicate Nidhi Limited
About Muthoot Syndicate Nidhi Limited
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Muthoot Syndicate Nidhi Limited is a nidhi company based in Thiruvananthapuram, Kerala, India. It operates in the diversified financial services segment of the financial services sector. It was incorporated on 23 May 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Ernakulam, under CIN U65991KL1996PLC010403. Its GSTIN is 32AACCM9379D1ZF (Kerala).
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹2.67 Cr. It was formerly known as Muthoot Mercantile Syndicate Limited. It is led by directors including Asha Richi Mathew and Ammini Mathew.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Thiruvananthapuram, Kerala.
As per the financials filed for FY 2024, the company reported a revenue of ₹6.81 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net profit of ₹9.36 Lakh (net margin 1.4%) and EBITDA of ₹2.07 Cr (EBITDA margin 30.4%). Revenue has declined at a compounded annual rate (CAGR) of 20% over three years and 20% over five years.
The company has about 86 employees on its provident fund (EPFO) records.
Court records list 2 cases involving the company, including 1 filed by the company and 1 filed against it; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Muthoot Syndicate Nidhi Limited's registered office is in Thiruvananthapuram, Kerala. Its e-mail address is in the company report.
- Email
- Registered AddressGroundfloor Southblockmuthootfloors Oppositew&Chospita, L Thycaud, Thiruvananthapuram, Kerala, India – 695014
- IndustryFinancial Services, Diversified Financial Services
To see the full contact details of Muthoot Syndicate Nidhi 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 Muthoot Syndicate Nidhi is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Muthoot Syndicate Nidhi Limited, buy the company report.
Financials of Muthoot Syndicate Nidhi Limited
FY 2024 filings availableMuthoot Syndicate Nidhi Limited reported revenue of ₹6.81 Cr (down 1% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 20% over five years, including a 1% fall in the latest year. EBITDA rose 33% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹2.07 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | ₹9.36 Lakh | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 30.4% | ||||
| Net Profit Margin | 1.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Muthoot Syndicate Nidhi Limited, buy the company report.
Board of directors of Muthoot Syndicate Nidhi Limited
Muthoot Syndicate Nidhi has 4 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Asha Richi Mathew Also directs: Muthoot Mercantile Limited, Muthoot Mercantile Nidhi Limited, Richi Mathew Securities Limited and 2 more | Director | 11 Aug 2021 | 5 Years 3 Months | Current |
| Ammini Mathew Also directs: Muthoot AI Labs Limited, Muthoot Mercantile Limited, Muthoot Mutual Fund Limited and 1 more | Director | 18 May 2016 | 10 Years 5 Months | Current |
| Richi Mathew Also directs: Muthoot AI Labs Limited, Muthoot Mercantile Limited, Muthoot Mutual Fund Limited and 3 more | Director | 01 Oct 2018 | 8 Years 1 Months | Current |
| Mathew Mathaininan Also directs: Muthoot AI Labs Limited, Muthoot Mercantile Limited, Muthoot Mutual Fund Limited and 1 more | Director | 13 Jun 2018 | 8 Years 5 Months | Current |
Peer comparison
Muthoot Syndicate Nidhi Limited is compared with the 4 companies closest to it by revenue in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sri Nithyakalyani Chit Funds Private Limited | ₹7.25 Cr (FY 2025) | -5.0% | Madurai, Tamil Nadu, India | |||
| Sri Kannika Parameswari Chit Corporation Private Limited | ₹7.07 Cr (FY 2025) | 8.0% | Theni, Tamil Nadu, India | |||
| Arunodaya Chit Funds Private Limited | ₹6.9 Cr (FY 2024) | 5.0% | Karimnagar, Telangana, India | |||
| Muthoot Syndicate Nidhi Limitedthis company | ₹6.81 Cr (FY 2024) | ₹9.36 Lakh | 1.4% | -1.0% | Thiruvananthapuram, Kerala, India | |
| M.C.I.(Bangalore) Chits Limited | ₹6.38 Cr (FY 2023) | 36.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Muthoot Syndicate Nidhi Limited, buy the company report.
Auditor
Muthoot Syndicate Nidhi Limited is audited by MOHANDAS & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MOHANDAS & ASSOCIATES | FY 2022 | 002116S |
Shareholding
The shareholding of Muthoot Syndicate Nidhi Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Muthoot Syndicate Nidhi Limited, buy the company report.
Legal cases
Muthoot Syndicate Nidhi Limited has 2 court cases on record: 1 filed by Muthoot Syndicate Nidhi, 1 filed against it. 1 case is pending and 1 is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
| High courts | 1 | 0 | 1 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Writ petition | Filed by the company against State of Kerala | Pending |
| District court, Kollam, Kerala | Execution petition | Filed against the company by an individual | Disposed |
To see the full case history of Muthoot Syndicate Nidhi 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
No delayed payments to MSME suppliers are on our record for Muthoot Syndicate Nidhi Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Muthoot Syndicate Nidhi has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 32AACCM9379D1ZF | Kerala | Active | 29 Nov 2018 |
To see the full GST registrations and return filing status of Muthoot Syndicate Nidhi Limited, buy the company report.
Recent activity
Muthoot Syndicate Nidhi Limited has 12 board changes on record since 2010: 4 appointments and 8 cessations. The latest: Asha Richi Mathew ceased to be Additional Director on 30 Sep 2021.
3 earlier events are in the company report.
Frequently asked questions
Muthoot Syndicate Nidhi is an active nidhi company based in Thiruvananthapuram, Kerala, India. The company works in diversified financial services, within the financial services industry. It was incorporated on 23 May 1996 (30+ years old) and is registered under CIN U65991KL1996PLC010403.
Muthoot Syndicate Nidhi has 4 current directors:
- Asha Richi Mathew - Director
- Ammini Mathew - Director
- Richi Mathew - Director
- Mathew Mathaininan - Director
The latest financial statements of Muthoot Syndicate Nidhi on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Muthoot Syndicate Nidhi is 32AACCM9379D1ZF, registered in Kerala.
The CIN (Corporate Identification Number) of Muthoot Syndicate Nidhi is U65991KL1996PLC010403. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Muthoot Syndicate Nidhi has 2 court cases on record: 1 filed by the company and 1 filed against it. 1 is pending. Most are in the district courts.
Muthoot Syndicate Nidhi was incorporated on 23 May 1996, making it 30+ years old. It is registered with the Registrar of Companies, Ernakulam.
The peers of Muthoot Syndicate Nidhi by revenue are Sri Nithyakalyani Chit Funds Private Limited, Sri Kannika Parameswari Chit Corporation Private Limited, Arunodaya Chit Funds Private Limited, M.C.I.(Bangalore) Chits Limited, all in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities).
Asha Richi Mathew ceased to be Additional Director on 30 Sep 2021. Asha Richi Mathew was appointed as Director on 11 Aug 2021. Richi Mathew was appointed as Director on 01 Oct 2018. Muthoot Syndicate Nidhi has 12 board changes on record in total.
The registered office of Muthoot Syndicate Nidhi is at Groundfloor Southblockmuthootfloors Oppositew&Chospita, L Thycaud, Thiruvananthapuram, Kerala, India – 695014.
Muthoot Syndicate Nidhi operates in the financial services industry, in the diversified financial services segment.
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