Visagar Financial Services Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L99999MH1994PLC076858 Incorporated 01 March 1994 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - BSE: 531025 Public Limited Company financial services
Data last updated
Market Cap
₹15.77 Cr
VISAGAR · BSE
Share Price
₹0.27
0.00% today
Revenue
₹9.93 Cr
FY 2025-26 · -92.3% YoY
EBITDA
₹1.12 Cr
Margin 11.3%
Net Profit
−₹0.37 Cr
FY 2025-26 · -131.3% YoY
P/E (TTM)
24.0x
P/B 0.3x
Authorised capital
₹60 Cr
Registered with MCA
Paid-up capital
₹58.39 Cr
Issued & subscribed

About Visagar Financial Services Limited

Data last updated:

Visagar Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 01 March 1994 and has been in existence for over 32 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L99999MH1994PLC076858. Its GSTIN is 27AAACI1375B2ZZ (Maharashtra). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 531025.

The company has an authorised share capital of ₹60 Cr and a paid-up capital of ₹58.39 Cr. It was formerly known as Inca Finlease Ltd. It is led by directors including Kuldeep Kumar and Tilokchand Manaklal Kothari.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹9.93 Cr, a decline of 92.3% compared to the previous year. For the same year it recorded a net loss of ₹37 Lakh (net margin -3.7%) and EBITDA of ₹1.12 Cr (EBITDA margin 11.3%). The net worth stands at ₹60.18 Cr (down 0.6% YoY). Total assets are valued at ₹90.97 Cr (down 12.8% YoY).

The company is associated with 1 brand: Visagar. Court records list 3 cases involving the company, including 2 filed by the company and 1 filed against it; 1 case is pending. The company has 198 deals on record (197 market trades, 1 rights issue); the latest was in August 2024. Its 8 peer companies in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 5 smaller; the largest is J.S. Loans and Advances Private Limited with revenue of ₹1.07 Cr.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vfsl.org.

Company details

CIN L99999MH1994PLC076858
Registration Number 076858
Incorporation Date 01 March 1994
ROC Mumbai
Listing Status Listed - Listed on BSE (531025)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

CIN history

Visagar Financial Services has one previous CIN (Corporate Identification Number): U99999MH1994PLC076858. The current CIN is L99999MH1994PLC076858, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L99999MH1994PLC076858Current
U99999MH1994PLC076858Previous

Contact details

Visagar Financial Services Limited's registered office is in Mumbai, Maharashtra. Its website is vfsl.org. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
  • Registered Address
    907 – 908 Dev Plaza 9th Floor Opp. Andheri Fire Station S.V. Road An, Dheri (W), Mumbai, Maharashtra, India – 400058
  • Industry
    Financial Services, NBFC, Investment & Credit NBFC

To see the full contact details of Visagar Financial Services Limited, buy the company report.

Comprehensive company report
Visagar Financial Services Limited - one report that includes everything
  • 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
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Brands

Visagar Financial Services operates one associated brand: VISAGAR. Each brand links to its own profile.

BrandDescriptionWebsite
Operations are managed across multiple industries by the diversified conglomerate.visagar.com

Business activity

The main business activity of Visagar Financial Services is financial and insurance service. In detail, this covers other financial activities.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
KFinancial and insurance ServiceK8Other financial activities

To see the full business activity and turnover split of Visagar Financial Services Limited, buy the company report.

Financials of Visagar Financial Services Limited

FY 2025-26 filings available

Visagar Financial Services Limited reported revenue of ₹9.93 Cr (down 92.3% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹9.93 Cr
-92.3% YoY
EBITDA
₹1.12 Cr
-37.8% YoY
Profit After Tax
−₹0.37 Cr
-131.3% YoY
Net Worth
₹60.18 Cr
-0.6% YoY
Total Assets
₹90.97 Cr
-12.8% YoY
Total Debt
₹30.79 Cr
-29.8% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue9.9313033451.8016.8266.581.52
Revenue growth-92.3%-61.2%+545.2%+208.0%-74.7%+4280.3%-
EBITDA1.121.800.091.960.24(0.35)(0.28)
EBITDA margin+11.3%+1.4%+0.0%+3.8%+1.4%-0.5%-18.4%
Profit before tax(0.36)(0.16)(1.15)1.820.23(0.35)(0.28)
Net profit(0.37)(0.16)(1.15)1.280.23(0.35)(0.28)
Net profit margin-3.7%-0.1%-0.3%+2.5%+1.4%-0.5%-18.4%
EPS (₹)(0.01)0.00(0.02)0.020.02(0.11)(0.09)
Balance sheet
Total assets90.9710410376.8013.5714.0313.45
Net worth60.1860.5460.7061.8611.9411.7112.05
Total debt30.7943.8442.2914.941.622.301.37
Cash & bank0.170.652.221.230.090.030.07
Net working capital6.6710.4816.5117.432.631.951.67
Cash flow
Cash from operations12.580.27(25.83)(54.11)(0.12)(0.04)0.02
Cash from investing0.000.00(0.53)(6.70)0.180.000.00
Cash from financing(13.05)(1.84)27.3561.960.000.000.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1.122.752.981.662.5511.6011.4575.94
Revenue growth (YoY)-56.1%-76.3%-74.0%-97.8%-91.7%---
Other income0.000.000.000.000.000.000.000.00
Total expenses1.162.361.471.423.5812.1410.4472.06
EBITDA(0.04)0.391.510.24(1.03)(0.54)1.013.88
EBITDA margin-3.6%+14.2%+50.7%+14.5%-40.4%-4.7%+8.8%+5.1%
Depreciation0.020.020.020.020.020.030.050.02
Interest0.001.330.050.000.001.780.060.00
Profit before tax(0.06)(0.96)1.440.22(1.05)(2.35)0.903.86
Tax0.000.000.000.000.000.000.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 01 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue1.122.752.981.662.5511.6011.4575.94
Revenue growth (YoY)-56.1%-76.3%-74.0%-97.8%-91.7%---
Other income0.000.000.000.000.000.000.000.00
Total expenses1.162.361.471.423.5812.1410.4472.06
EBITDA(0.04)0.391.510.24(1.03)(0.54)1.013.88
EBITDA margin-3.6%+14.2%+50.7%+14.5%-40.4%-4.7%+8.8%+5.1%
Depreciation0.020.020.020.020.020.030.050.02
Interest0.001.330.050.000.001.780.060.00
Profit before tax(0.06)(0.96)1.440.22(1.05)(2.35)0.903.86
Tax0.000.000.000.000.000.000.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue9.9313033451.8016.8266.581.52
Revenue growth-92.3%-61.2%+545.2%+208.0%-74.7%+4280.3%-
Other income0.000.000.000.000.000.000.00
Total expenses8.8112833449.8416.5866.931.80
Employee cost0.000.360.610.260.090.090.21
EBITDA1.121.800.091.960.24(0.35)(0.28)
EBITDA margin+11.3%+1.4%+0.0%+3.8%+1.4%-0.5%-18.4%
Depreciation0.090.120.110.000.000.000.00
Interest1.391.841.130.140.010.000.00
Profit before tax(0.36)(0.16)(1.15)1.820.23(0.35)(0.28)
Tax0.010.000.000.540.000.000.00
Net profit(0.37)(0.16)(1.15)1.280.23(0.35)(0.28)
Net profit margin-3.7%-0.1%-0.3%+2.5%+1.4%-0.5%-18.4%
EPS (₹)(0.01)0.00(0.02)0.020.02(0.11)(0.09)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital58.3958.3958.3958.399.756.506.50
Reserves & surplus1.792.152.313.472.195.215.55
Shareholders' funds (net worth)60.1860.5460.7061.8611.9411.7112.05
Secured loans0.000.000.000.000.000.000.00
Unsecured loans30.7943.8442.2914.941.622.301.37
Total debt30.7943.8442.2914.941.622.301.37
Total liabilities90.9710410376.8013.5714.0313.45
Assets
Gross block0.590.580.580.050.050.050.05
Net block0.220.300.420.000.000.000.00
Capital work in progress0.000.000.000.000.000.000.00
Investments17.6525.9525.7511.254.554.735.27
Inventories2.205.6013.1616.022.241.971.67
Sundry debtors3.163.351.810.200.150.010.00
Cash & bank balances0.170.652.221.230.090.030.07
Loans & advances1.130.870.770.770.180.030.03
Total current assets6.6610.4717.9618.222.662.041.77
Total current liabilities(0.01)(0.01)1.450.790.030.090.10
Net working capital6.6710.4816.5117.432.631.951.67
Total assets90.9710410376.8013.5714.0313.45
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.652.221.230.090.030.070.05
Net cash from operating activities12.580.27(25.83)(54.11)(0.12)(0.04)0.02
Net cash from investing activities0.000.00(0.53)(6.70)0.180.000.00
Net cash from financing activities(13.05)(1.84)27.3561.960.000.000.00
Net change in cash(0.48)(1.57)0.991.140.06(0.04)0.02
Closing cash0.170.652.221.230.090.030.07
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-92.3%-61.2%+545.2%+208.0%-74.7%+4280.3%-
EBITDA growth-37.8%+1900.0%-95.4%+716.7%+168.6%-25.0%-
PBT growth-125.0%+86.1%-+691.3%+9998.0%-25.0%-
Net income growth-131.3%+86.1%-189.8%+456.5%+165.7%-25.0%-
Revenue CAGR (3Y)-42.3%+97.5%+71.2%+224.2%+151.3%+132.0%-47.6%
EBITDA CAGR (3Y)-17.0%+95.7%--+58.7%--
Profitability & leverage
Net income margin-3.7%-0.1%-0.3%+2.5%+1.4%-0.5%-18.4%
Return on capital employed-0.0%0.0%+4.3%+1.8%0.0%0.0%
Return on net worth-0.0%0.0%+3.4%+2.0%0.0%0.0%
Debt / equity-0.710.470.220.170.150.21
Long-term debt / equity-0.000.000.000.000.000.00
Interest cover134.95109.52-5,650.007.144.170.000.00
Efficiency & per share
Fixed asset turnover-223.401,060.981,036.00336.401,331.6030.40
Inventory turnover-13.8122.915.677.9936.580.79
Debtors turnover-50.22332.55296.00210.2513,316.000.00
EPS (₹)(0.01)0.00(0.02)0.020.02(0.11)(0.09)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.001.041.041.061.223.603.71

To see the full year-wise statements and ratios of Visagar Financial Services Limited, buy the company report.

Board of directors of Visagar Financial Services Limited

Visagar Financial Services has 5 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Kuldeep KumarDirector30 Mar 20197 Years 7 MonthsCurrent
Tilokchand Manaklal KothariDirector15 Jan 201115 Years 9 MonthsCurrent
Madhu Bala VaishnavDirector30 Mar 20197 Years 7 MonthsCurrent
Anju PareekDirector30 Sep 20242 Years 1 MonthsCurrent
Vikasjeet SinghDirector14 Aug 20251 Years 2 MonthsCurrent

Peer comparison

Visagar Financial Services Limited is compared with the 8 companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Visagar Financial Services Limitedthis company₹9.93 Cr (FY 2026)-₹37 Lakh-3.7%-92.3%Mumbai, Maharashtra, India
J.S. Loans and Advances Private Limited₹1.07 Cr (FY 2025)22.0%New Delhi, Delhi, India
Pallavi Apartments Pvt Ltd₹1.07 Cr (FY 2025)10.0%Kolkata, West Bengal, India
Bossom Marketing Pvt.Ltd.₹1.07 Cr (FY 2025)19.0%Kolkata, West Bengal, India
Max I. Limited₹1.06 Cr (FY 2024)499.0%New Delhi, Delhi, India
Pioneer Auto & Credit Pvt Ltd₹1.06 Cr (FY 2024)31.0%Kolkata, West Bengal, India
Agra Capitals Private Limited₹1.06 Cr (FY 2025)13.0%Kolkata, West Bengal, India
Up and Up Traders Pvt Ltd₹1.06 Cr (FY 2021)47.0%Kolkata, West Bengal, India
Damini Vinimay Pvt Ltd₹1.06 Cr (FY 2025)22.0%Kolkata, West Bengal, India

To see the full peer comparison of Visagar Financial Services Limited, buy the company report.

Auditor

Visagar Financial Services Limited is audited by S.C. Mehra & Associates for the financial year 2019.

Auditor firmFinancial yearFirm registration number
S.C. Mehra & AssociatesFY 2019106156W

Shareholding

Shareholding for the quarter ended Mar 2026: promoters hold 6.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 94.00%.

Promoters: 6.00%Retail & Others: 94.00%
Mar 2026
QUARTER
6.00% Promoters
94.00% Retail & Others
Promoter holding - history
Now 6.00% · Mar 2026High 6.00% · Jun 2025Low 6.00% · Jun 2025
5%5.5%6%6.5%7%Jun 2025Sep 2025Dec 2025Mar 2026Jun 2025: 6.00%Sep 2025: 6.00%Dec 2025: 6.00%Mar 2026: 6.00%6.00%6.00%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025
Promoters6.00%6.00%6.00%6.00%
Public94.00%94.00%94.00%94.00%

Deals & funding

Visagar Financial Services Limited has 198 deals on record (197 market trades, 1 rights issue); the latest was in August 2024.

Total deals
198
Market trades
197
Rights issue
1

Deals on record (5 of 198)

To see the full deal history of Visagar Financial Services Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Visagar Financial Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

GST

Visagar Financial Services has 2 GST registrations: 1 active and 1 cancelled or inactive.

Total GSTINs
2
Active
1
Cancelled / inactive
1
GSTINStateStatusRegistered on
27AAACI1375B2ZZMaharashtraActive01 Jul 2017

To see the full GST registrations and return filing status of Visagar Financial Services Limited, buy the company report.

Recent activity

Visagar Financial Services Limited has 25 board changes on record since 2005: 16 appointments and 9 cessations. The latest: Vikasjeet Singh was appointed as Director on 14 Aug 2025.

Filing
Visagar Financial Services Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
AGM
Visagar Financial Services Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Appointed
Vikasjeet Singh was appointed as Director.
Appointed
Anju Pareek was appointed as Director.
Ceased
Sanjay Rajak ceased to be Director.
Ceased
Kailash Ram Gopal Chhaparwal ceased to be Director.
Appointed
Ankita Rai was appointed as CFO.
Ceased
Asha Tilokchand Kothari ceased to be Director.
Ceased
Arvind Ganpat Desai ceased to be Whole-Time Director.
Appointed
Sagar Tilokchand Kothari was appointed as CEO.
Appointed
Sanjay Rajak was appointed as Director.
Ceased
Suranjan Upadhyay ceased to be Director.

16 earlier events are in the company report.

Frequently asked questions

Visagar Financial Services is an active public limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 01 March 1994 (32+ years old) and is registered under CIN L99999MH1994PLC076858. Listed on BSE: 531025.

Visagar Financial Services reported revenue of ₹9.93 Cr for FY 2025-26 (down 92.3% YoY) based on standalone financials.

Visagar Financial Services has 5 current directors:

The latest financial statements of Visagar Financial Services on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Visagar Financial Services is 27AAACI1375B2ZZ, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.

The CIN (Corporate Identification Number) of Visagar Financial Services is L99999MH1994PLC076858. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Visagar Financial Services is a listed company as per MCA records. Its shares are listed on BSE (code: 531025).

Visagar Financial Services has 3 court cases on record: 2 filed by the company and 1 filed against it. 1 is pending.

Visagar Financial Services was incorporated on 01 March 1994, making it 32+ years old. It is registered with the Registrar of Companies, Mumbai.

Visagar Financial Services has 198 deals on record (197 market trades, 1 rights issue); the latest was in August 2024.

The peers of Visagar Financial Services by revenue are J.S. Loans and Advances Private Limited, Pallavi Apartments Pvt Ltd, Bossom Marketing Pvt.Ltd, Max I. Limited, Pioneer Auto & Credit Pvt Ltd and 3 more, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).