About Avanse Financial Services Limited
Data last updated:
Avanse 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 07 August 1992 and has been in existence for over 34 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67120MH1992PLC068060. Its GSTIN is 27AAACA4267A1Z5 (Maharashtra). The company holds 12 GST registrations, all of them active.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹157.66 Cr. It was formerly known as Avanse Financial Services Private Limited and Abhivruddhi Holdings Private Limited. It is led by directors including Amit Gainda (Managing Director) and Savita Mahajan.
Its last annual general meeting (AGM) was held on 11 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,351.75 Cr, a growth of 36% compared to the previous year. For the same year it recorded a net profit of ₹502.12 Cr (net margin 21.4%) and EBITDA of ₹1,925.04 Cr (EBITDA margin 81.9%). Revenue has grown at a compounded annual rate (CAGR) of 67% over three years and 40% over five years.
The company has about 723 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Avanse. As per MCA filings, the company has open charges of ₹25,834 Cr and satisfied charges of ₹6,642.69 Cr on record. Court records list 5,913 cases involving the company, including 5,738 filed by the company and 175 filed against it; 3,362 cases are pending. The company has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024. Its 10 peer companies in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC) are compared by revenue, 5 larger and 5 smaller; the largest is Spandana Sphoorty Financial Limited with revenue of ₹2,533.95 Cr. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 1,941 overdue payments to 230 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 avanse.com.
Name History of Avanse Financial Services Limited
Avanse Financial Services has undergone 2 name changes throughout its history. The company was previously known as Avanse Financial Services Private Limited, and Abhivruddhi Holdings Private Limited. The current legal name is Avanse Financial Services Limited.
| Company Name | Status |
|---|---|
| Avanse Financial Services Limited | Current |
| Avanse Financial Services Private Limited | Previous |
| Abhivruddhi Holdings Private Limited | Previous |
CIN History of Avanse Financial Services Limited
Avanse Financial Services has one previous CIN (Corporate Identification Number): U67120MH1992PTC068060. The current CIN is U67120MH1992PLC068060, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67120MH1992PLC068060 | Current |
| U67120MH1992PTC068060 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address4th Floor E – Wing Times Square Andheri – Kurla Road, Gamdevi Marol Andheri East, Mumbai, Maharashtra, India – 400059
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
- 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
- One PDF report, delivered after checkout
Associated Brands with Avanse Financial Services Limited
Avanse Financial Services operates one associated brand: Avanse. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Financial services for education loans and refinancing are provided. | avanse.com |
Business Activity of Avanse Financial Services Limited
The main business activity of Avanse Financial Services is financial and insurance service. In detail, this covers financial and credit leasing activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K5 | Financial and Credit leasing activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Avanse Financial Services Limited FY 2026 filings available
Avanse Financial Services Limited reported revenue of ₹2,351.75 Cr (up 36% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Avanse Financial Services Limited
Revenue has grown at a compounded annual rate (CAGR) of 40% over five years, including 36% growth in the latest year. EBITDA rose 42% 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 of Avanse Financial Services Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹1,925.04 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹502.12 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 of Avanse Financial Services Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 81.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 21.4% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Avanse Financial Services are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors and KMP of Avanse Financial Services Limited
Avanse Financial Services Limited currently reports 11 directors and 1 key managerial person. 22 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Savita Mahajan | Director | 01 Dec 2018 | 7 Years 10 Months | Current |
| Ravi Venkatraman | Director | 05 Jul 2021 | 5 Years 3 Months | Current |
| Narendra Ostawal Also directs: Nna Cre Properties LLP, Idfc First Bank Limited, Micro Life Sciences Private Limited and 2 more | Director | 30 Jul 2019 | 7 Years 2 Months | Current |
| Sunish Sharma Also directs: Kedaara Capital Advisors LLP, Nish Capital Advisors LLP, Kedaara Capital Fund II LLP and 5 more | Nominee Director | 01 Jul 2024 | 2 Years 3 Months | Current |
| Hemant Omprakash Mundra Also directs: Warburg Pincus India Private Limited, Fusion Finance Limited, Parksons Packaging Limited and 3 more | Nominee Director | 01 Jul 2024 | 2 Years 3 Months | Current |
| Rajesh Pravinkumar Gandhi | Company Secretary | 11 Nov 2022 | 3 Years 11 Months | Current |
Peer Comparison of Avanse Financial Services Limited
Avanse Financial Services Limited is compared with the companies closest to it by revenue in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Spandana Sphoorty Financial Limited Listed | ₹2,533.95 Cr (FY 2024) | •••• | •••• | 72.0% | •••• | Hyderabad, Telangana, India |
| Samunnati Agri Value Chain Solutions Private Limited | ₹2,468.7 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Chennai, Tamil Nadu, India |
| SK Finance Limited | ₹2,386.38 Cr (FY 2025) | •••• | •••• | 33.0% | •••• | Jaipur, Rajasthan, India |
| Equitas Holdings Limited Listed | ₹2,358.53 Cr (FY 2019) | •••• | •••• | 33.0% | •••• | Chennai, Tamil Nadu, India |
| Northern Arc Capital Limited | ₹2,355.74 Cr (FY 2025) | •••• | •••• | 24.0% | •••• | Chennai, Tamil Nadu, India |
| Avanse Financial Services Limited this company | ₹2,351.75 Cr (FY 2025) | •••• | •••• | 36.0% | •••• | Mumbai, Maharashtra, India |
| Sindhu Trade Links Limited Listed | ₹2,292.7 Cr (FY 2025) | •••• | •••• | 25.0% | •••• | New Delhi, Delhi, India |
| Icm Finance Private Limited | ₹2,260.31 Cr (FY 2025) | •••• | •••• | -23.0% | •••• | Kolkata, West Bengal, India |
| Satin Creditcare Network Limited Listed | ₹2,240.53 Cr (FY 2024) | •••• | •••• | 44.0% | •••• | Delhi, India |
| Wadhawan Global Capital Limited | ₹2,175.8 Cr (FY 2018) | •••• | •••• | 267.0% | •••• | Mumbai, Maharashtra, India |
| Belstar Microfinance Limited | ₹2,124.99 Cr (FY 2025) | •••• | •••• | 15.0% | •••• | Chennai, Tamil Nadu, India |
Peers are the five companies nearest above and the five nearest below Avanse Financial Services by revenue in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Avanse Financial Services Limited
Avanse Financial Services Limited is audited by T.R.CHADHA & CO. LLP for the financial year 2018.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| T.R.CHADHA & CO. LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Avanse Financial Services Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Avanse Financial Services Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 07 Aug 2026 | Others | ₹100 Cr | Open |
| 24 Jul 2026 | Others | ₹500 Cr | Open |
| 29 Jun 2026 | Others | ₹100 Cr | Open |
| 26 Mar 2026 | Others | ₹500 Cr | Open |
| 20 Feb 2026 | Others | ₹109.16 Cr | Open |
Total charge records: 80 View all charges
Deals & Funding of Avanse Financial Services Limited
Avanse Financial Services Limited has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024.
Deals on record (5 of 18)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Acquisition | ₹764.32 Cr | Buyer: Warburg Pincus Seller: Wadhawan Global Capital Limited , Piramal Finance Limited, Wadhawan Holdings Private Limited |
| Mar 2018 | Rights issue | ₹260.09 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited |
| Jul 2017 | Rights issue | ₹74.41 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited, International Finance Corporation |
| Mar 2016 | Rights issue | ₹39.8 Cr | Investors: Wadhawan Global Capital Limited , International Finance Corporation, 2 individuals |
| Mar 2015 | Rights issue | ₹40.76 Cr | Investors: Wadhawan Global Capital Limited , Piramal Finance Limited, Wadhawan Holdings Private Limited |
Full deal history
All 18 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Avanse Financial Services Limited
Avanse Financial Services Limited has 5,913 court cases on record: 5,738 filed by Avanse Financial Services, 175 filed against it. 3,362 cases are pending and 2,551 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5,713 | 101 | 3,325 |
| High courts | 187 | 61 | 36 |
| Supreme Court | 11 | 11 | 1 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 5,913)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against 32Nd Vistas Private Limited | Pending |
| District court, Gurugram, Haryana | Criminal miscellaneous application | Filed by the company against 32Nd Vistas Pvt. Ltd. | Pending |
| Bombay High Court | Court case (CARBP) | Filed by the company against Manbhari Plastics Private Limited and 2 others | Disposed |
| Bombay High Court | Arbitration matter | Filed by the company against Sidven Engineering Works Pvt Ltd | Disposed |
| District court, North West, Delhi | Court case (Ex. - Award by Arb.) | Filed by the company against Gyandhan Financial Services Private Limited and 1 other | Disposed |
Full case history
All 5,913 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Avanse Financial Services Limited
Avanse Financial Services Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 1,941 overdue payments to 230 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 230)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Royal Orchid Hotels Limited | •••• | •••• | •••• |
| Ganit Business Solutions Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Dreamz Global Education Services LLP | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 12 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Avanse Financial Services Limited
Avanse Financial Services Limited has a workforce of 723 employees as of Jan 02, 2025.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Avanse Financial Services Limited
Avanse Financial Services has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Avanse Global Finance Ifsc Private Limited | U65900GJ2023PTC138316 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Avanse Financial Services Limited
Avanse Financial Services Limited has 31 board changes on record since 2012: 12 appointments and 19 cessations. The latest: Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak was appointed as Nominee Director on 21 Jul 2026.
165 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Avanse Financial Services Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Avanse Financial Services Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Avanse Financial Services Limited
Avanse Financial Services has 12 GST registrations: 12 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA4267A1Z5 | Maharashtra | Active | 01 Jul 2017 |
| 04AAACA4267A1ZD | Chandigarh | Active | 01 Jul 2017 |
| 07AAACA4267A1Z7 | Delhi | Active | 01 Jul 2017 |
| 24AAACA4267A1ZB | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Avanse Financial Services Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Avanse Financial Services Limited
Frequently Asked Questions about Avanse Financial Services Limited
Avanse 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 07 August 1992 (34+ years old) and is registered under CIN U67120MH1992PLC068060.
Avanse Financial Services reported revenue of ₹2,351.75 Cr for FY 2025 (up 36% YoY).
Avanse Financial Services has 12 current directors and KMP:
- Amit Gainda - Managing Director
- Savita Mahajan - Director
- Ravi Venkatraman - Director
- Narendra Ostawal - Director
- Sunish Sharma - Nominee Director
- Hemant Omprakash Mundra - Nominee Director
- Luca Molinari - Nominee Director
- Rakesh Induprasad Bhatt - Director
- Vijayalakshmi Rajaram Iyer - Director
- Neeraj Swaroop - Director
- Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak - Nominee Director
- Rajesh Pravinkumar Gandhi - Company Secretary
Avanse Financial Services reported a net profit of ₹502.12 Cr (net margin 21.4%) and EBITDA of ₹1,925.04 Cr (EBITDA margin 81.9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Avanse Financial Services is 67% over three years and 40% over five years. In the latest year (FY 2025) revenue rose 36%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Avanse Financial Services is 27AAACA4267A1Z5, registered in Maharashtra. The company has 12 GST registrations in all, of which 12 are active. Other active GSTINs include 04AAACA4267A1ZD (Chandigarh), 07AAACA4267A1Z7 (Delhi), 24AAACA4267A1ZB (Gujarat).
The CIN (Corporate Identification Number) of Avanse Financial Services is U67120MH1992PLC068060. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avanse Financial Services has 5,913 court cases on record: 5,738 filed by the company and 175 filed against it. 3,362 are pending. Most are in the district courts.
Avanse Financial Services was incorporated on 07 August 1992, making it 34+ years old. It is registered with the Registrar of Companies, Mumbai.
Avanse Financial Services has 18 deals on record (9 funding rounds, 4 rights issues, 4 secondary share transfers), with disclosed funding of ₹2,616.46 Cr; the latest was in March 2024.
The peers of Avanse Financial Services by revenue are Spandana Sphoorty Financial Limited, Samunnati Agri Value Chain Solutions Private Limited, SK Finance Limited, Equitas Holdings Limited, Northern Arc Capital Limited and 5 more, all in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC).
Mohamed Ibrahim Abdulla Abdul Azeez Al Mubarak was appointed as Nominee Director on 21 Jul 2026. Vikrant Virendra Gandhi ceased to be CFO on 04 Mar 2026. Rakesh Induprasad Bhatt was appointed as Director on 08 Mar 2025. Avanse Financial Services has 31 board changes on record in total.