MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-19-0062292
Ashv Finance Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹185.11 Cr
▼ 16% YoY
EBITDA · FY 2024
₹7.9 Cr
EBITDA margin 4.3%
Authorised capital
₹111 Cr
Registered with MCA
Paid-up capital
₹60.1 Cr
Issued & subscribed
Open charges
₹3 Cr
Satisfied ₹2,193.69 Cr
Company age
28 yrs
Est. 1998
Directors on board
7
As per MCA filings
Active GSTINs
16
GST registered
About Ashv Finance Limited
Data last updated:
Ashv Finance Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Aavishkaar Venture Management Services Private Limited. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 05 February 1998 and has been in existence for over 28 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U65910MH1998PLC333546. Its GSTIN is 27AAACJ5946P1ZX (Maharashtra). The company holds 16 GST registrations, all of them active.
The company has an authorised share capital of ₹111 Cr and a paid-up capital of ₹60.1 Cr. It was formerly known as Jain Sons Finlease Limited. It is led by directors including Atreya Rayaprolu (Managing Director) and Radha Krishna Mathur.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1st Floor 271 Business Park, Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹185.11 Cr, a decline of 16% compared to the previous year. For the same year it recorded EBITDA of ₹7.9 Cr (EBITDA margin 4.3%). Revenue has grown at a compounded annual rate (CAGR) of 26% over three years and 25% over five years.
The company is associated with 1 brand: Ashv Finance. As per MCA filings, the company has open charges of ₹3 Cr and satisfied charges of ₹2,193.69 Cr on record. Court records list 3,522 cases involving the company, including 3,438 filed by the company and 84 filed against it; 1,165 cases are pending. The company has 27 deals on record (13 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹507.96 Cr; the latest was in December 2023. Its 6 peer companies in the BFSI industry (Finance, Large NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 3 smaller; the largest is Shamyak Investment Private Limited with revenue of ₹190.69 Cr.
Ashv Finance Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0062292). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ashvfinance.com.
Company details
CIN U65910MH1998PLC333546
Registration Number 333546
Incorporation Date 05 February 1998
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 25 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Aavishkaar Venture Management Services Private Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0062292
Name history
Ashv Finance has undergone 4 name changes throughout its history. The current legal name is Ashv Finance Limited.
| Company Name | Status |
|---|---|
| Ashv Finance Limited | Current |
| Jain Sons Finlease Limited | Previous |
| Ashv Finserv Limited | Previous |
| Ashv Financial Services Limited | Previous |
CIN history
Ashv Finance has 3 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U65910MH1998PLC333546, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65910MH1998PLC333546 | Current |
| U65910HR1998PLC033843 | Previous |
| U65910AP1998PLC088941 | Previous |
| U65910TG1998PLC088941 | Previous |
Key People
Atreya Rayaprolu Managing Director Radha Krishna Mathur Director Rajat Mohan Nag Director Recognitions & Rankings of Ashv Finance
Contact details
Ashv Finance Limited's registered office is in Mumbai, Maharashtra. Its website is ashvfinance.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address1st Floor 271 Business Park Vishweshwar Nagar Road, Near Virwani Model Industrial Estate, Mumbai, Maharashtra, India – 400063
- IndustryFinancial Services, Investment & Credit NBFC, NBFC
To see the full contact details of Ashv Finance Limited, buy the company report.
Comprehensive company report
Ashv Finance 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
Ashv Finance operates one associated brand: Ashv Finance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Business loans are provided to enterprises in India. | ashvfinance.com |
Business activity
The main business activity of Ashv Finance 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 Ashv Finance Limited, buy the company report.
Financials of Ashv Finance Limited
FY 2025 filings availableAshv Finance Limited reported revenue of ₹185.11 Cr (down 16% YoY) for FY 2024.
Revenue · FY 2024
₹185.11 Cr ▼ 16%
EBITDA · FY 2024
₹7.9 Cr margin 4.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 16%
3 years · compounded
▲ 26%
5 years · compounded
▲ 25%
EBITDA CAGR growth
1 year
▼ 85%
3 years · compounded
▼ 41%
5 years · compounded
▼ 25%
Revenue fell 16% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 25%. EBITDA fell 85% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹185.11 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹7.9 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | |||||
| 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.3% | ||||
| Net Profit Margin | |||||
| 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 Ashv Finance Limited, buy the company report.
Board of directors of Ashv Finance Limited
Ashv Finance has 7 current directors and 38 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Radha Krishna Mathur | Director | 06 Feb 2024 | 2 Years 8 Months | Current |
| Rajat Mohan Nag | Director | 14 Aug 2024 | 2 Years 2 Months | Current |
| Vineet Chandra Rai | Director | 27 Jul 2012 | 14 Years 3 Months | Current |
| Atreya Rayaprolu Also directs: Tribetech Private Limited | Managing Director | 28 Jul 2025 | 1 Years 2 Months | Current |
| Aleem Remtula | Nominee Director | 02 May 2024 | 2 Years 5 Months | Current |
| Franciscus Bernardus Martinus Streppel | Nominee Director | 14 Aug 2024 | 2 Years 2 Months | Current |
Showing 6 of 7 current directors. View all directors
Peer comparison
Ashv Finance Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Finance, Large NBFC, NBFC Investment and Credit Companies), 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 |
|---|---|---|---|---|---|---|
| Shamyak Investment Private Limited | ₹190.69 Cr (FY 2020) | 278.0% | Mumbai, Maharashtra, India | |||
| Mekaster Finlease Limited | ₹189.21 Cr (FY 2019) | 499.0% | New Delhi, Delhi, India | |||
| North Eastern Development Finance Corporation Limited | ₹186.88 Cr (FY 2019) | 7.0% | Guwahati, Assam, India | |||
| Ashv Finance Limitedthis company | ₹185.11 Cr (FY 2024) | -16.0% | Mumbai, Maharashtra, India | |||
| Crest Ventures Limited | ₹184 Cr (FY 2024) | -72.0% | Mumbai, Maharashtra, India | |||
| Trucap Finance Limited | ₹182.84 Cr (FY 2024) | 48.0% | Mumbai, Maharashtra, India | |||
| Centrum Housing Finance Limited | ₹181.53 Cr (FY 2024) | 92.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Ashv Finance Limited, buy the company report.
Auditor
Ashv Finance Limited is audited by Walker Chandiok & Co LLP for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Walker Chandiok & Co LLP | FY 2019 | 001076N/N500013 |
Shareholding
The shareholding of Ashv Finance 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) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ashv Finance Limited, buy the company report.
Charges & borrowings
Open charges
₹3 Cr
Satisfied charges
₹2,193.69 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Dec 2022 | 100665999 | Others | ₹3 Cr | Open | |
| 01 Oct 2024 | 100983391 | Others | ₹12 Cr | Satisfied | |
| 27 Sep 2024 | 100983386 | Others | ₹30 Cr | Satisfied | |
| 28 Jun 2024 | 100950334 | Others | ₹5 Cr | Satisfied | |
| 29 Mar 2024 | 100900730 | Others | ₹10 Cr | Satisfied |
To see the full charge records of Ashv Finance Limited, buy the company report.
Total charge records: 200 View all charges
Deals & funding
Ashv Finance Limited has 27 deals on record (13 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹507.96 Cr; the latest was in December 2023.
Total deals
27
Secondary share transfers
13
Funding rounds
11
Debt financings
3
Disclosed funding
₹507.96 Cr
Deals on record (5 of 27)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2023 | Funding round · Series E | ₹74.7 Cr | Investors: Encourage Capital |
| Mar 2023 | Funding round | ₹87.33 Cr | Investors: Aavishkaar Capital, Shahnaz Memorial Trust, 2 individuals |
| Dec 2016 | Secondary share transfer | Undisclosed | Buyer: Triodos Investment Bank Seller: Intellecash Microfinance Network Company Private Limited |
| Aug 2012 | Secondary share transfer | Undisclosed | Buyer: Intellecash Microfinance Network Company Private Limited Seller: an individual |
| Dec 2011 | Funding round · Seed | ₹6.12 Cr | Investors: Intellecash Microfinance Network Company Private Limited , an individual |
To see the full deal history of Ashv Finance 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
Ashv Finance Limited has 3,522 court cases on record: 3,438 filed by Ashv Finance, 84 filed against it. 1,165 cases are pending and 2,357 are disposed.
Total cases
3,522
Filed by the company
3,438
Filed against the company
84
Pending
1,165
Disposed
2,357
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3,460 | 58 | 1,153 |
| High courts | 41 | 7 | 5 |
| NCLAT | 12 | 12 | 5 |
| NCLT | 5 | 3 | 1 |
| Supreme Court | 4 | 4 | 1 |
Cases on record (5 of 3,522)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Blue Nar Ropes and Nets LLP and 1 other | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Dolphin Fire Services Pvt Ltd and 2 others | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Samanthula Engineering Pvt Ltd and 1 other | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Gecon Industries Pvt. Ltd. and 1 other | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Kamala Kanta Paul Glass Pvt. Ltd. and 1 other | Pending |
To see the full case history of Ashv Finance 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.
Credit ratings & regulatory alerts
Ashv Finance Limited was last rated by Care on 24 Jun 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 24 Jun 2022 |
To see the full credit ratings and regulatory alerts of Ashv Finance Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Ashv Finance Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Ashv Finance has 16 GST registrations: 16 active. The first 4 active GSTINs are listed below.
Total GSTINs
16
Active
16
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACJ5946P1ZX | Maharashtra | Active | 01 Jul 2017 |
| 27AAACJ5946P2ZW | Maharashtra | Active | 25 Nov 2021 |
| 29AAACJ5946P1ZT | Karnataka | Active | 22 Feb 2019 |
| 36AAACJ5946P1ZY | Telangana | Active | 12 Nov 2019 |
To see the full GST registrations and return filing status of Ashv Finance Limited, buy the company report.
Recent activity
Ashv Finance Limited has 42 board changes on record since 2010: 7 appointments and 35 cessations. The latest: Atreya Rayaprolu was appointed as Managing Director on 28 Jul 2025.
Charges
A charge registered on 19 Dec 2022 via Charge ID 100663926 with Others was fully satisfied on 15 Apr 2026.
Charges
A charge registered on 28 Sep 2017 via Charge ID 100130256 with Tata Capital Financial Services Limited was fully satisfied on 16 Jan 2026.
Charges
A charge registered on 30 Nov 2022 via Charge ID 100654763 with Others was fully satisfied on 14 Nov 2025.
AGM
Ashv Finance Limited last Annual general meeting of members was held on 25 Sep 2025 as per latest MCA records.
Charges
A charge registered on 20 Dec 2023 via Charge ID 100831885 with Others was fully satisfied on 24 Sep 2025.
Charges
A charge registered on 28 Sep 2022 via Charge ID 100614795 with Others was fully satisfied on 24 Sep 2025.
Charges
A charge registered on 19 Apr 2023 via Charge ID 100710925 with State Bank Of India was fully satisfied on 04 Aug 2025.
Charges
A charge registered on 25 Mar 2022 via Charge ID 100562453 with State Bank Of India was fully satisfied on 04 Aug 2025.
Charges
A charge registered on 30 Sep 2022 via Charge ID 100617489 with Others was fully satisfied on 28 Jul 2025.
Appointed
Atreya Rayaprolu was appointed as Managing Director.
Charges
A charge registered on 21 Dec 2021 via Charge ID 100529068 with Others was fully satisfied on 30 Jun 2025.
Charges
A charge registered on 11 Nov 2021 via Charge ID 100504934 with Others was fully satisfied on 19 Jun 2025.
459 earlier events are in the company report.
News
Frequently asked questions
Ashv Finance is an active public limited company based in Mumbai, Maharashtra, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 05 February 1998 (28+ years old) and is registered under CIN U65910MH1998PLC333546.
Ashv Finance has 7 current directors:
- Atreya Rayaprolu - Managing Director
- Radha Krishna Mathur - Director
- Rajat Mohan Nag - Director
- Vineet Chandra Rai - Director
- Aleem Remtula - Nominee Director
- Franciscus Bernardus Martinus Streppel - Nominee Director
- Anurag Agrawal - Director
The latest financial statements of Ashv Finance on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ashv Finance is 27AAACJ5946P1ZX, registered in Maharashtra. The company has 16 GST registrations in all, of which 16 are active. Other active GSTINs include 27AAACJ5946P2ZW (Maharashtra), 29AAACJ5946P1ZT (Karnataka), 36AAACJ5946P1ZY (Telangana).
The CIN (Corporate Identification Number) of Ashv Finance is U65910MH1998PLC333546. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ashv Finance has 3,522 court cases on record: 3,438 filed by the company and 84 filed against it. 1,165 are pending. Most are in the district courts.
Ashv Finance was incorporated on 05 February 1998, making it 28+ years old. It is registered with the Registrar of Companies, Mumbai.
Ashv Finance has 27 deals on record (13 secondary share transfers, 11 funding rounds, 3 debt financings), with disclosed funding of ₹507.96 Cr; the latest was in December 2023.
The peers of Ashv Finance by revenue are Shamyak Investment Private Limited, Mekaster Finlease Limited, North Eastern Development Finance Corporation Limited, Crest Ventures Limited, Trucap Finance Limited and 1 more, all in the BFSI industry (Finance, Large NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities).
Atreya Rayaprolu was appointed as Managing Director on 28 Jul 2025. Shristi Jaishankar Padia ceased to be Company Secretary on 08 May 2025. Franciscus Bernardus Martinus Streppel was appointed as Nominee Director on 14 Aug 2024. Ashv Finance has 42 board changes on record in total.
Yes, Ashv Finance is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0062292).