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Zanmai Labs Private Limited
Zanmai Labs Private Limited - internet in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹22.03 Cr
▼ 56% YoY
Net loss · FY 2025
₹7.57 Cr
Net margin -34.4%
EBITDA · FY 2025
-₹7.34 Cr
EBITDA margin -33.3%
Authorised capital
₹25 Lakh
Registered with MCA
Paid-up capital
₹8.39 Lakh
Issued & subscribed
Company age
9 yrs
Est. 2017
Directors on board
6
As per MCA filings
Active GSTINs
1
of 2 registered
About Zanmai Labs Private Limited
Data last updated:
Zanmai Labs Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Zettai Pte Ltd and recognised as a startup by DPIIT. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 21 December 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72900MH2017PTC303170. Its GSTIN is 27AABCZ1559P1ZN (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹8.39 Lakh. It is led by directors including Nischal Shetty and Sameer Hanuman Mhatre.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹22.03 Cr, a decline of 56% compared to the previous year. For the same year it recorded a net loss of ₹7.57 Cr (net margin -34.4%) and EBITDA of -₹7.34 Cr (EBITDA margin -33.3%). Revenue has grown at a compounded annual rate (CAGR) of 143% over five years.
The company is associated with 1 brand: WazirX. Court records list 37 cases involving the company, including 20 filed by the company and 17 filed against it; 22 cases are pending. The company has 1 deal on record (1 secondary share transfer); the latest was in April 2019.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN U72900MH2017PTC303170
Registration Number 303170
Incorporation Date 21 December 2017
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Zettai Pte Ltd
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
Recognitions & Rankings of Zanmai Labs
Contact details
Zanmai Labs Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressHd – 024 Wework Enam Sambhav C – 20 G Block Rd G Block BKC Bandra Kurla Complex Bandr, A East, Mumbai, Maharashtra, India – 400051
- IndustryInternet, Online Financial Services
To see the full contact details of Zanmai Labs Private Limited, buy the company report.
Comprehensive company report
Zanmai Labs Private 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
Zanmai Labs operates one associated brand: WazirX. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Multiple cryptocurrencies are traded on an online exchange platform. | wazirx.com |
Business activity
The main business activity of Zanmai Labs is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Zanmai Labs Private Limited, buy the company report.
Financials of Zanmai Labs Private Limited
FY 2025 filings availableZanmai Labs Private Limited reported revenue of ₹22.03 Cr (down 56% YoY) for FY 2025.
Revenue · FY 2025
₹22.03 Cr ▼ 56%
Net loss · FY 2025
₹7.57 Cr margin -34.4%
EBITDA · FY 2025
-₹7.34 Cr margin -33.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 56%
5 years · compounded
▲ 143%
Revenue fell 56% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 143%. 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 | ₹22.03 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹7.34 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹7.57 Cr | ||||
| 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 | -33.3% | ||||
| Net Profit Margin | -34.4% | ||||
| 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 Zanmai Labs Private Limited, buy the company report.
Board of directors of Zanmai Labs Private Limited
Zanmai Labs has 6 directors on record. No former directors are listed.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nischal Shetty Also directs: Shibuya Labs LLP, Codigami Technologies Private Limited, Crowdfire India Private Limited and 2 more | Director | 21 Dec 2017 | 8 Years 10 Months | Current |
| Sameer Hanuman Mhatre Also directs: Codigami Technologies Private Limited, Crowdfire India Private Limited, Qizil21 Softwares Private Limited and 1 more | Director | 21 Dec 2017 | 8 Years 10 Months | Current |
| Ranjitkumar Pandey | Director | 25 Aug 2024 | 2 Years 2 Months | Current |
| Muthuswamy Iyer | Director | 06 Mar 2023 | 3 Years 7 Months | Current |
| Tushar Patel | Director | 06 Mar 2023 | 3 Years 7 Months | Current |
| Sumit Bhavanji Patel | Additional Director | 17 Feb 2026 | 0 Years 8 Months | Current |
Auditor
Zanmai Labs Private Limited is audited by KISAN & CO. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KISAN & CO. | FY 2024 | 148332W |
Shareholding
The shareholding of Zanmai Labs 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 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Zanmai Labs Private Limited, buy the company report.
Deals & funding
Zanmai Labs Private Limited has 1 deal on record (1 secondary share transfer); the latest was in April 2019.
Total deals
1
Secondary share transfer
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2019 | Secondary share transfer | Undisclosed | Buyer: Zettai Pte Limited, Zettai Pte Limited & Nischal Shetty Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Zanmai Labs Private Limited has 37 court cases on record: 20 filed by Zanmai Labs, 17 filed against it. 22 cases are pending and 15 are disposed.
Total cases
37
Filed by the company
20
Filed against the company
17
Pending
22
Disposed
15
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 30 | 11 | 18 |
| District courts | 6 | 5 | 4 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 37)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed by the company against Kopayments Pvt Ltd | Pending |
| Bombay High Court | Writ petition | Filed by the company against Reserve Bank of India and 1 other | Pending |
| High Court, GUJARAT | Court case (SCR.A) | Filed by the company against HDFC Bank Ltd. and 2 others | Pending |
| High Court | Court case (CPCD) | Filed against the company by Nextgendev Solutions Private Limited Khaitan and Co | Disposed |
| Bombay High Court | Court case (CPCD) | Filed against the company by Bitcipher Labs LLP | Disposed |
To see the full case history of Zanmai Labs 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
No delayed payments to MSME suppliers are on our record for Zanmai Labs Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Zanmai Labs has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCZ1559P1ZN | Maharashtra | Active | 31 Jan 2018 |
To see the full GST registrations and return filing status of Zanmai Labs Private Limited, buy the company report.
Recent activity
Zanmai Labs Private Limited has 6 board changes on record since 2017: 6 appointments. The latest: Sumit Bhavanji Patel was appointed as Additional Director on 17 Feb 2026.
Appointed
Sumit Bhavanji Patel was appointed as Additional Director.
AGM
Zanmai Labs Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Zanmai Labs Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Appointed
Ranjitkumar Pandey was appointed as Director.
Appointed
Muthuswamy Iyer was appointed as Director.
Appointed
Tushar Patel was appointed as Director.
Appointed
Nischal Shetty was appointed as Director.
Appointed
Sameer Hanuman Mhatre was appointed as Director.
Incorporation
21 Dec 2017
Zanmai Labs Private Limited was registered on 21 Dec 2017 with Roc Mumbai I & aged 8 years 10 months as per MCA records.
From our blog
Frequently asked questions
Zanmai Labs is an active private limited company based in Mumbai, Maharashtra, India. The company works in online financial services, within the internet industry. It was incorporated on 21 December 2017 (9+ years old) and is registered under CIN U72900MH2017PTC303170.
Zanmai Labs has 6 current directors:
- Nischal Shetty - Director
- Sameer Hanuman Mhatre - Director
- Ranjitkumar Pandey - Director
- Muthuswamy Iyer - Director
- Tushar Patel - Director
- Sumit Bhavanji Patel - Additional Director
The latest financial statements of Zanmai Labs on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of Zanmai Labs is 27AABCZ1559P1ZN, 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 Zanmai Labs is U72900MH2017PTC303170. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Zanmai Labs has 37 court cases on record: 20 filed by the company and 17 filed against it. 22 are pending. Most are in the high courts.
Zanmai Labs was incorporated on 21 December 2017, making it 9+ years old. It is registered with the Registrar of Companies, Mumbai.
Zanmai Labs has 1 deal on record (1 secondary share transfer); the latest was in April 2019.
Sumit Bhavanji Patel was appointed as Additional Director on 17 Feb 2026. Ranjitkumar Pandey was appointed as Director on 25 Aug 2024. Muthuswamy Iyer was appointed as Director on 06 Mar 2023. Zanmai Labs has 6 board changes on record in total.
Yes, Zanmai Labs is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
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