MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0081423
Believe Cosmetics Private Limited - consumer goods in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹31.89 Cr
▼ 35% YoY
Net loss · FY 2025
₹55.14 Cr
Net margin -172.9%
EBITDA · FY 2025
-₹49.51 Cr
EBITDA margin -155.3%
Authorised capital
₹1.8 Cr
Registered with MCA
Paid-up capital
₹1.18 Cr
Issued & subscribed
Open charges
₹23.41 Cr
Satisfied ₹74.5 Cr
Company age
6 yrs
Est. 2020
Employees · EPFO
475
Provident fund records
About Believe Cosmetics Private Limited
Data last updated:
Believe Cosmetics Private Limited is a foreign private limited company based in Bangalore, Karnataka, India, a subsidiary of Believe Pte. Ltd. It operates in the health and beauty retail and distribution segment of the consumer goods sector. It was incorporated on 29 July 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74999KA2020FTC136600. Its GSTIN is 29AAJCB1450B1Z2 (Karnataka). The company holds 8 GST registrations, of which 7 are active.
The company has an authorised share capital of ₹1.8 Cr and a paid-up capital of ₹1.18 Cr. It is led by directors Dheeraj Batra and Ankit Mahajan.
Its last annual general meeting (AGM) was held on 31 December 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1 Cessna Business Park, Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹31.89 Cr, a decline of 35% compared to the previous year. For the same year it recorded a net loss of ₹55.14 Cr (net margin -172.9%) and EBITDA of -₹49.51 Cr (EBITDA margin -155.3%). Revenue has declined at a compounded annual rate (CAGR) of 27% over three years.
The company has about 475 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Believe. As per MCA filings, the company has open charges of ₹23.41 Cr and satisfied charges of ₹74.5 Cr on record. The company has 14 deals on record (6 funding rounds, 5 debt financings, 3 rights issues), with disclosed funding of ₹155.91 Cr; the latest was in February 2024. The company has 7 MSME Form 1 returns on record between 2021 and 2023, listing 131 overdue payments to 47 micro and small suppliers.
Believe Cosmetics Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0081423). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website believedirect.in.
Company details
CIN U74999KA2020FTC136600
Registration Number 136600
Incorporation Date 29 July 2020
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 31 December 2025
Date of Balance Sheet 31 March 2025
Parent Company Believe Pte. Ltd
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0081423
Key People
Dheeraj Batra Director Ankit Mahajan Director Recognitions & Rankings of Believe Cosmetics
Contact details
Believe Cosmetics Private Limited's registered office is in Bangalore, Karnataka. Its website is believedirect.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address5th Floor Umiya Business Bay Tower – 1 Cessna Business Park, Marathahalli Sarjapur Ring Road Kadubeesanahalli Varthur – Hobli, Bangalore, Karnataka, India – 560103
- IndustryConsumer Goods, Health & Beauty Retail & Distribution
To see the full contact details of Believe Cosmetics Private Limited, buy the company report.
Comprehensive company report
Believe Cosmetics 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
Believe Cosmetics operates one associated brand: Believe. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Halal certified beauty and personal care products are offered online. | believe.sg |
Business activity
The main business activity of Believe Cosmetics is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Believe Cosmetics Private Limited, buy the company report.
Financials of Believe Cosmetics Private Limited
FY 2025 filings availableBelieve Cosmetics Private Limited reported revenue of ₹31.89 Cr (down 35% YoY) for FY 2025.
Revenue · FY 2025
₹31.89 Cr ▼ 35%
Net loss · FY 2025
₹55.14 Cr margin -172.9%
EBITDA · FY 2025
-₹49.51 Cr margin -155.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 35%
3 years · compounded
▼ 27%
Revenue has declined at a compounded annual rate (CAGR) of 27% over three years, including a 35% fall 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 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 | ₹31.89 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹49.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹55.14 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 | -155.3% | ||||
| Net Profit Margin | -172.9% | ||||
| 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 Believe Cosmetics Private Limited, buy the company report.
Board of directors of Believe Cosmetics Private Limited
Believe Cosmetics has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dheeraj Batra | Director | 29 Jul 2020 | 6 Years 3 Months | Current |
| Ankit Mahajan Also directs: Ecotrail Personal Care Private Limited | Director | 29 Jul 2020 | 6 Years 3 Months | Current |
Auditor
Believe Cosmetics Private Limited is audited by S.R. BATLIBOI & ASSOCIATES LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. BATLIBOI & ASSOCIATES LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Believe Cosmetics Private Limited is on record for 3 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Believe Cosmetics Private Limited, buy the company report.
Charges & borrowings
Open charges
₹23.41 Cr
Satisfied charges
₹74.5 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 May 2025 | 101165759 | Others | ₹5 Cr | Open | |
| 29 Apr 2024 | 100937371 | Others | ₹3.01 Cr | Open | |
| 20 Feb 2024 | 100914870 | Others | ₹5.4 Cr | Open | |
| 08 Sep 2023 | 100798705 | Others | ₹10 Cr | Open | |
| 10 Jul 2023 | 100795574 | Others | ₹12 Cr | Satisfied |
To see the full charge records of Believe Cosmetics Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Believe Cosmetics Private Limited has 14 deals on record (6 funding rounds, 5 debt financings, 3 rights issues), with disclosed funding of ₹155.91 Cr; the latest was in February 2024.
Total deals
14
Funding rounds
6
Debt financings
5
Rights issues
3
Disclosed funding
₹155.91 Cr
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2024 | Debt financing | ₹16.41 Cr | Investors: Lighthouse Canton, 360 ONE (IIFL Asset Management), Alteria Capital |
| Jul 2023 | Debt financing | ₹42.6 Cr | Investors: 360 ONE (IIFL Asset Management), Alteria Capital, Lighthouse Canton |
| Nov 2022 | Rights issue | ₹61.76 Cr | Investors: Believe Pte Limited |
| Sep 2022 | Rights issue | ₹12.19 Cr | Investors: Believe Pte Limited |
| Jul 2022 | Debt financing | ₹30 Cr | Investors: Alteria Capital |
To see the full deal history of Believe Cosmetics Private 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
No court or tribunal cases involving Believe Cosmetics Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Believe Cosmetics Private Limited has 7 MSME Form 1 returns on record between 2021 and 2023, listing 131 overdue payments to 47 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 47)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| Sai Traders | |||
| JB Fragrances and Flavours | |||
| an individual supplier |
To see the full MSME payment records of Believe Cosmetics Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Believe Cosmetics Private Limited has a workforce of 475 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
Employee count
475
Active EPFO establishments
1
Employee growth
-16.52%
GST
Believe Cosmetics has 8 GST registrations: 7 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
8
Active
7
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAJCB1450B1Z2 | Karnataka | Active | 05 Aug 2020 |
| 29AAJCB1450B2Z1 | Karnataka | Active | 28 Oct 2022 |
| 18AAJCB1450B1Z5 | Assam | Active | 25 Jan 2021 |
| 27AAJCB1450B1Z6 | Maharashtra | Active | 10 Feb 2021 |
To see the full GST registrations and return filing status of Believe Cosmetics Private Limited, buy the company report.
Recent activity
Believe Cosmetics Private Limited has 3 board changes on record since 2020: 2 appointments and 1 cessation. The latest: Harish Venkateswaran ceased to be CFO on 30 Jun 2025.
AGM
Believe Cosmetics Private Limited last Annual general meeting of members was held on 31 Dec 2025 as per latest MCA records.
Ceased
Harish Venkateswaran ceased to be CFO.
Charges
A charge registered on 10 Jul 2023 via Charge ID 100795574 with Others was fully satisfied on 21 May 2025.
Charges
A charge registered on 08 Feb 2022 via Charge ID 100549597 with Others was fully satisfied on 21 May 2025.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 101165759 was registered on 05 May 2025.
Filing
Believe Cosmetics Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 3.01 Cr with Charge ID 100937371 was registered on 29 Apr 2024.
Charges
A charge with Others amounted to Rs. 5.40 Cr with Charge ID 100914870 was registered on 20 Feb 2024.
Charges
A charge registered on 30 Mar 2021 via Charge ID 100445979 with Others was fully satisfied on 23 Nov 2023.
Charges
A charge with Others of Rs. 37.50 Cr registered on 08 Feb 2022 with Charge ID 100549597 was modified on 21 Nov 2023.
Charges
A charge with Others of Rs. 12.00 Cr registered on 10 Jul 2023 with Charge ID 100795574 was modified on 13 Nov 2023.
Charges
A charge with Others amounted to Rs. 10.00 Cr with Charge ID 100798705 was registered on 08 Sep 2023.
6 earlier events are in the company report.
Frequently asked questions
Believe Cosmetics is an active foreign private limited company based in Bangalore, Karnataka, India. The company works in health and beauty retail and distribution, within the consumer goods industry. It was incorporated on 29 July 2020 (6+ years old) and is registered under CIN U74999KA2020FTC136600.
Believe Cosmetics has 2 current directors:
- Dheeraj Batra - Director
- Ankit Mahajan - Director
The latest financial statements of Believe Cosmetics on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 31 December 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Believe Cosmetics is 29AAJCB1450B1Z2, registered in Karnataka. The company has 8 GST registrations in all, of which 7 are active and 1 is cancelled or inactive. Other active GSTINs include 29AAJCB1450B2Z1 (Karnataka), 18AAJCB1450B1Z5 (Assam), 27AAJCB1450B1Z6 (Maharashtra).
The CIN (Corporate Identification Number) of Believe Cosmetics is U74999KA2020FTC136600. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Believe Cosmetics was incorporated on 29 July 2020, making it 6+ years old. It is registered with the Registrar of Companies, Bangalore.
Believe Cosmetics has 14 deals on record (6 funding rounds, 5 debt financings, 3 rights issues), with disclosed funding of ₹155.91 Cr; the latest was in February 2024.
Harish Venkateswaran ceased to be CFO on 30 Jun 2025. Ankit Mahajan was appointed as Director on 29 Jul 2020. Dheeraj Batra was appointed as Director on 29 Jul 2020.
Yes, Believe Cosmetics is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0081423).
Believe Cosmetics has 7 MSME Form 1 returns on record between 2021 and 2023, listing 131 overdue payments to 47 micro and small suppliers. The latest return was filed on 08 Nov 2023.
Believe Cosmetics can be reached through the website believedirect.in. Its registered office is in Bangalore, Karnataka, India.
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