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BG Networks Private Limited - financial services in Thane, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹6.16 Cr
▼ 26% YoY
Net loss · FY 2025
₹3.78 Cr
Net margin -61.5%
EBITDA · FY 2025
-₹1.19 Cr
EBITDA margin -19.3%
Authorised capital
₹3 Cr
Registered with MCA
Paid-up capital
₹1.84 Cr
Issued & subscribed
Open charges
₹4.17 Cr
Secured borrowings
Company age
8 yrs
Est. 2018
Employees · EPFO
90
Provident fund records
About BG Networks Private Limited
Data last updated:
BG Networks Private Limited is a private limited company based in Thane, Maharashtra, India, recognised as a startup by DPIIT. It operates in the general insurance providers segment of the financial services sector. It was incorporated on 19 June 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2018PTC310945. Its GSTIN is 27AAECH5776M1ZX (Maharashtra). The company holds 4 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹1.84 Cr. It was formerly known as Hgds Ventures Private Limited. It is led by directors including Devang Hasmmukhlalji Parmar and Jashvant Raval Chandulal.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Thane, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹6.16 Cr, a decline of 26% compared to the previous year. For the same year it recorded a net loss of ₹3.78 Cr (net margin -61.5%) and EBITDA of -₹1.19 Cr (EBITDA margin -19.3%). Revenue has grown at a compounded annual rate (CAGR) of 37% over three years and 39% over five years.
The company has about 90 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Bima Garage. As per MCA filings, the company has open charges of ₹4.17 Cr on record. The company has 9 deals on record (5 funding rounds, 4 secondary share transfers), with disclosed funding of ₹15.91 Cr; the latest was in June 2022. The company has 6 MSME Form 1 returns on record between 2020 and 2023, listing 70 overdue payments to 16 micro and small suppliers.
BG Networks Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-33-0311751). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bimagarage.com.
Company details
CIN U74999MH2018PTC310945
Registration Number 310945
Incorporation Date 19 June 2018
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Micro
Udyam Registration UDYAM-MH-33-0311751
Key People
Devang Hasmmukhlalji Parmar Director Jashvant Raval Chandulal Director Sandesh Mishra Director Recognitions & Rankings of BG Networks
MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2024-25)
- Udyam number
- UDYAM-MH-33-0311751
Contact details
BG Networks Private Limited's registered office is in Thane, Maharashtra. Its website is bimagarage.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No.1001 10th Floor Dosti Pinnacle, Plot No. E – 7 Road No.22, Thane, Maharashtra, India – 400604
- IndustryFinancial Services, General Insurance Providers
To see the full contact details of BG Networks Private Limited, buy the company report.
Comprehensive company report
BG Networks 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
BG Networks operates one associated brand: Bima Garage. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Health insurance claims support solutions for insurance holders, hospitals, and insurance agents | bimagarage.com |
Business activity
The main business activity of BG Networks is support service to organizations. In detail, this covers other support services to organizations.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of BG Networks Private Limited, buy the company report.
Financials of BG Networks Private Limited
FY 2024 filings availableBG Networks Private Limited reported revenue of ₹6.16 Cr (down 26% YoY) for FY 2025.
Revenue · FY 2025
₹6.16 Cr ▼ 26%
Net loss · FY 2025
₹3.78 Cr margin -61.5%
EBITDA · FY 2025
-₹1.19 Cr margin -19.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 26%
3 years · compounded
▲ 37%
5 years · compounded
▲ 39%
EBITDA CAGR growth
1 year
▼ 214%
3 years · compounded
▼ 10%
5 years · compounded
▼ 11%
Revenue fell 26% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 39%. EBITDA fell 214% 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 |
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| EBITDA | -₹1.19 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹3.78 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -19.3% | ||||
| Net Profit Margin | -61.5% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of BG Networks Private Limited, buy the company report.
Board of directors of BG Networks Private Limited
BG Networks has 4 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Devang Hasmmukhlalji Parmar Also directs: Tribe of Humans Foundation | Director | 13 Jul 2019 | 7 Years 3 Months | Current |
| Jashvant Raval Chandulal | Director | 06 Jan 2020 | 6 Years 9 Months | Current |
| Sandesh Mishra Also directs: Tribe of Humans Foundation | Director | 13 Jul 2019 | 7 Years 3 Months | Current |
| Varadan Devanathan Also directs: Blue Hex Software Private Limited | Director | 17 May 2023 | 3 Years 5 Months | Current |
Auditor
BG Networks Private Limited is audited by H. P. JADEJA & ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| H. P. JADEJA & ASSOCIATES | FY 2022 | 152374 |
Shareholding
The shareholding of BG Networks Private Limited is on record for 5 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of BG Networks Private Limited, buy the company report.
Charges & borrowings
Open charges
₹4.17 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Jan 2025 | 101050244 | State Bank of India | ₹2.17 Cr | Open | |
| 01 Sep 2023 | 100784648 | The Hongkong and Shanghai Banking Corporation Limited | ₹2 Cr | Open |
Total charge records: 2 View all charges
Deals & funding
BG Networks Private Limited has 9 deals on record (5 funding rounds, 4 secondary share transfers), with disclosed funding of ₹15.91 Cr; the latest was in June 2022.
Total deals
9
Funding rounds
5
Secondary share transfers
4
Disclosed funding
₹15.91 Cr
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2022 | Funding round | ₹6 Cr | Investors: Raval Dharmendra Kumar Chandulal (HUF), Brijesh Raval (HUF), 2 individuals |
| Aug 2021 | Funding round | ₹3.07 Cr | Investors: 4 individuals |
| Jul 2021 | Funding round | ₹2.09 Cr | Investors: 4 individuals |
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: JCR Consulting Private Limited |
| Jan 2020 | Funding round | ₹1.3 Cr | Investors: JCR Consulting Private Limited , 3 individuals |
To see the full deal history of BG Networks 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 BG Networks 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
BG Networks Private Limited has 6 MSME Form 1 returns on record between 2020 and 2023, listing 70 overdue payments to 16 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 16)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Togglehead Digital Private Limited | |||
| Cubicle | |||
| Ajva Fintech Private Limited | |||
| an individual supplier |
To see the full MSME payment records of BG Networks Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
BG Networks has 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Associated companies
Employees & EPFO
BG Networks Private Limited has a workforce of 90 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
Employee count
90
Active EPFO establishments
1
Employee growth
26.76%
GST
BG Networks has 4 GST registrations: 3 active and 1 cancelled or inactive.
Total GSTINs
4
Active
3
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECH5776M1ZX | Maharashtra | Active | 06 Jul 2018 |
| 06AAECH5776M1Z1 | Haryana | Active | 25 Jul 2021 |
| 29AAECH5776M1ZT | Karnataka | Active | 31 Mar 2023 |
To see the full GST registrations and return filing status of BG Networks Private Limited, buy the company report.
Recent activity
BG Networks Private Limited has 15 board changes on record since 2019: 4 appointments and 11 cessations. The latest: Om Parkash Kewal Krishan Gahrotra ceased to be Director on 07 Jan 2025.
Charges
A charge with State Bank Of India amounted to Rs. 2.17 Cr with Charge ID 101050244 was registered on 28 Jan 2025.
Ceased
Om Parkash Kewal Krishan Gahrotra ceased to be Director.
AGM
Bg Networks Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Bg Networks Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Mumbai.
Ceased
Ritu Girish Talwar ceased to be Additional Director.
Ceased
Varadan Devanathan ceased to be Additional Director.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited amounted to Rs. 2.00 Cr with Charge ID 100784648 was registered on 01 Sep 2023.
Appointed
Varadan Devanathan was appointed as Director.
Ceased
Hemant Tiwari ceased to be Director.
Ceased
Bhavesh Lal Lakhani ceased to be Additional Director.
Appointed
Jashvant Raval Chandulal was appointed as Director.
Ceased
Devang Hasmmukhlalji Parmar ceased to be Additional Director.
8 earlier events are in the company report.
Frequently asked questions
BG Networks is an active private limited company based in Thane, Maharashtra, India. The company works in general insurance providers, within the financial services industry. It was incorporated on 19 June 2018 (8+ years old) and is registered under CIN U74999MH2018PTC310945.
BG Networks has 4 current directors:
- Devang Hasmmukhlalji Parmar - Director
- Jashvant Raval Chandulal - Director
- Sandesh Mishra - Director
- Varadan Devanathan - Director
The latest financial statements of BG Networks on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from FY 2019 are in the company report.
The GSTIN of BG Networks is 27AAECH5776M1ZX, registered in Maharashtra. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 06AAECH5776M1Z1 (Haryana), 29AAECH5776M1ZT (Karnataka).
The CIN (Corporate Identification Number) of BG Networks is U74999MH2018PTC310945. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
BG Networks was incorporated on 19 June 2018, making it 8+ years old. It is registered with the Registrar of Companies, Mumbai.
BG Networks has 9 deals on record (5 funding rounds, 4 secondary share transfers), with disclosed funding of ₹15.91 Cr; the latest was in June 2022.
Om Parkash Kewal Krishan Gahrotra ceased to be Director on 07 Jan 2025. Ritu Girish Talwar ceased to be Additional Director on 29 Sep 2023. Varadan Devanathan ceased to be Additional Director on 29 Sep 2023. BG Networks has 15 board changes on record in total.
Yes, BG Networks is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, BG Networks is registered as a micro enterprise under Udyam registration (number: UDYAM-MH-33-0311751).
BG Networks has 6 MSME Form 1 returns on record between 2020 and 2023, listing 70 overdue payments to 16 micro and small suppliers. The latest return was filed on 22 Oct 2023.