About Carnelian
Carnelian is a company based in Mumbai (India). It operates as a B2B. The company has 23 employees. Carnelian has completed 1 acquisition, including IDBI Mutual Fund. Carnelian offers products and services including Compounder Strategy and Shift Strategy. Carnelian operates in a competitive market with competitors including Prudent, Reliance Capital, Synechron, Equentis Wealth Advisory Services and Auctus Advisors, among others.
- Headquarter Mumbai, India
- Employees 23
- Website carneliancapital.co.in
- Social LinkedIn X Facebook
- Legal Name Carnelian Asset Management & Advisors Private Limited
- Date of Incorporation 09 Jun, 2020
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹152 Cr
FY 2025 · +213% YoY
- Net Profit₹57.91 Cr
FY 2025 · 38% margin
- EBITDA₹77.92 Cr
FY 2025 · 51% margin
- Employee Count23
- Investments & Acquisitions
Associated legal entities of Carnelian
Carnelian is associated with 2 registered companies on The Company Check; the primary company is Carnelian Asset Management & Advisors Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Carnelian Asset Management & Advisors Private Limited CIN U74999MH2020PTC340468 | Active | 09 Jun 2020 | Mumbai, Maharashtra | ₹152 Cr | 23 | 6 | View details |
| Carnelian Capital Private Limited CIN U64910MH2023PTC414444 | Active | 26 Nov 2023 | Mumbai, Maharashtra | ₹0.5 Cr | – | 3 | View details |
Products & Services of Carnelian
Carnelian offers a comprehensive portfolio of products and services, including Compounder Strategy and Shift Strategy.
Delivers superior equity returns through objective decision-making framework
Focuses on structural market shifts for long-term wealth creation
Board of directors of Carnelian Asset Management & Advisors Private Limited (Carnelian)
Carnelian Asset Management & Advisors Private Limited is the primary company behind Carnelian. The boards of the 2 registered companies of Carnelian currently have 5 directors; the longest-serving is Manoj Kumar Bahety, appointed in 2020. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Manoj Kumar Bahety DIN 07832243 | Director | 09 Jun 2020 | 6 yrs 4 mo | Carnelian Asset Management & Advisors Private Limited |
| Swati Vikas Khemani DIN 03130201 | Director | 26 Nov 2023 | 2 yrs 10 mo | Carnelian Capital Private Limited, Carnelian Asset Management & Advisors Private Limited |
| Vikas Vijaykumar Khemani DIN 00065941 | Director | 26 Nov 2023 | 2 yrs 10 mo | Carnelian Capital Private Limited, Carnelian Asset Management & Advisors Private Limited |
| Narasinganallore Venkatesh Srinivasan DIN 01893686 | Director | 07 Mar 2025 | 1 yr 7 mo | Carnelian Asset Management & Advisors Private Limited |
| Subramanian Ranganathan DIN 00125493 | Director | 30 Dec 2025 | 9 mo | Carnelian Capital Private Limited |
Financials of Carnelian
Figures of Carnelian Asset Management & Advisors Private Limited, the primary company behind Carnelian, for FY 2025. Revenue was ₹152 Cr (+213% year on year). Net profit was ₹57.91 Cr (38% margin). EBITDA was ₹77.92 Cr (51% margin). Revenue has grown at a compounded annual rate of +164% over three years.
- ₹152 CrRevenue · FY 2025 · +213% YoY
- ₹57.91 CrNet profit · 38% margin
- ₹77.92 CrEBITDA · 51% margin
- ₹7.65 CrPaid-up capital
- 23Employees (provident fund records)
- +164%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Carnelian Asset Management & Advisors Private Limited are on its company page.
Detailed financial statements for Carnelian
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Investments & Acquisitions by Carnelian
Carnelian has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include IDBI Mutual Fund.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Mutual fund investments and research are offered online to individuals. | idbimutual.co.in | Mumbai, India | 2010 | Nov 2019 | •••• |
Complete acquisition details for Carnelian
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Competitors of Carnelian
Carnelian operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Prudent, Reliance Capital, Synechron, Equentis Wealth Advisory Services and Auctus Advisors, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| prudentcorporate.com | 2000 | Ahmedabad, India | $138,131 | 677 | Provider of financial products and investment services | |
| reliancecapital.co.in | 1986 | Mumbai, India | – | 18,360 | Financial services including loans, insurance, and asset management are provided. | |
| synechron.com | 2001 | New York, United States | – | – | Synechron is recognized as a global technology and AI consulting firm. | |
| equentis.com | 2015 | Mumbai, India | $10.59M | 1,602 | Investment advisory and research platform | |
| auctusadvisors.in | 2010 | Mumbai, India | – | 155 | Strategic consulting and advisory services for management decisions are provided. | |
| kotakmf.com | 1985 | Mumbai, India | – | 715 | Financial advisory services are offered by Kotak Mutual Fund. | |
| thedigitalfifth.com | 2017 | Mumbai, India | – | 22 | Provides strategy consulting, digital advisory, and training for banking and financial services industry. |
Detailed competitors of Carnelian
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Latest news on Carnelian
Complete news archive for Carnelian
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Frequently Asked Questions about Carnelian
Carnelian is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Carnelian has 23 employees.
The primary company behind Carnelian, Carnelian Asset Management & Advisors Private Limited, reported revenue of ₹152 Cr for FY 2025, up 213% year on year.
Carnelian Asset Management was founded by Vikas Khemani, Manoj Bahety, Sachin Jain, and Swati Khemani as an investment management firm. Operations are based in Mumbai, India, with a focus on capital markets investments. Services encompass asset management strategies tailored to market opportunities, serving clients through structured portfolio approaches in the financial sector. The firm maintains a presence via its domain, carnelian capital.co.in.
Carnelian's top competitors include Prudent, Reliance Capital and Equentis Wealth Advisory Services.
Carnelian offers Compounder Strategy and Shift Strategy.
Carnelian has made 1 acquisition, including IDBI Mutual Fund.
Carnelian is associated with 2 legal entities: Carnelian Asset Management & Advisors Private Limited, Carnelian Capital Private Limited.
The legal entities of Carnelian currently have 6 directors, including Swati Vikas Khemani, Vikas Vijaykumar Khemani, Subramanian Ranganathan and others.