Bhala Operations Private Limited
About Bhala Operations Private Limited
Data last updated:
Bhala Operations Private Limited is a private limited company based in Jaipur, Rajasthan, India. It operates in the brokerage and trading services segment of the financial services sector. It was incorporated on 01 August 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Jaipur, under CIN U70101RJ2014PTC046008.
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1 Cr. It was formerly known as Bhala Ventures Private Limited and Bhala Holding Private Limited. It is led by directors including Harsh Bhala and Ramakant Bhala.
Its last annual general meeting (AGM) was held on 18 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 6 – B 4th Floor Man Upasana Plaza C – 44 Sardar Patel Marg C – Scheme, Jaipur, Rajasthan, India – 302001.
As per the financials filed for FY 2025, the company reported a revenue of ₹17.75 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net profit of ₹9.71 Lakh (net margin 0.5%) and EBITDA of ₹94.23 Lakh (EBITDA margin 5.3%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 216% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address6 – B 4th Floor Man Upasana Plaza C – 44 Sardar Patel Marg C – Scheme, Jaipur, Rajasthan, India – 302001
- IndustryFinancial Services, Brokerage & Trading Services
- 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
Business Activity of Bhala Operations Private Limited
The main business activity of Bhala Operations is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K7 | Financial Advisory, brokerage and Consultancy Services | 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 Bhala Operations Private Limited FY 2025 filings available
Bhala Operations Private Limited reported revenue of ₹17.75 Cr (down 12% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Bhala Operations Private Limited
Revenue fell 12% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 216%. EBITDA fell 28% 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 Bhala Operations Private 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 | ₹94.23 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹9.71 Lakh | •••• | •••• | •••• | •••• |
| 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 Bhala Operations Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 5.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.5% | •••• | •••• | •••• | •••• |
| 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 Bhala Operations 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.
Peer Comparison of Bhala Operations Private Limited
Bhala Operations Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Broking Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Agrahar Securities Private Limited | ₹17.86 Cr (FY 2025) | •••• | •••• | -26.0% | •••• | Bangalore, Karnataka, India |
| Starrise Merchants Private Limited | ₹17.84 Cr (FY 2024) | •••• | •••• | 165120.0% | •••• | Kolkata, West Bengal, India |
| Jaguar Consultants Private Limited | ₹17.84 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Chandigarh, India |
| Arth Distributors Private Limited | ₹17.8 Cr (FY 2024) | •••• | •••• | 60.0% | •••• | Kolkata, West Bengal, India |
| Firstock Broking Private Limited | ₹17.78 Cr (FY 2025) | •••• | •••• | -8.0% | •••• | Bangalore, Karnataka, India |
| Bhala Operations Private Limited this company | ₹17.75 Cr (FY 2025) | •••• | •••• | -12.0% | •••• | Jaipur, Rajasthan, India |
| Tia Enterprises Private Limited | ₹17.68 Cr (FY 2024) | •••• | •••• | 41.0% | •••• | New Delhi, Delhi, India |
| International Money Matters Private Limited | ₹17.66 Cr (FY 2025) | •••• | •••• | 31.0% | •••• | Bangalore, Karnataka, India |
| KS Distribution and Sales Private Limited | ₹17.65 Cr (FY 2024) | •••• | •••• | 28.0% | •••• | Mumbai, Maharashtra, India |
| Coimbatore Capital Limited | ₹17.64 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Coimbatore, Tamil Nadu, India |
| Horizon Stock & Broking Services Private Limited | ₹17.62 Cr (FY 2025) | •••• | •••• | -58.0% | •••• | Kolkata, West Bengal, India |
Peers are the five companies nearest above and the five nearest below Bhala Operations by revenue in the BFSI industry (Broking Services), 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 Bhala Operations Private Limited
Bhala Operations Private Limited is audited by RAJVANSHI & ASSOCIATES CHARTERED ACCOUNTANTS for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| RAJVANSHI & ASSOCIATES CHARTERED ACCOUNTANTS | 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.
Board of Directors of Bhala Operations Private Limited
Bhala Operations has 4 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Harsh Bhala Also directs: Bhala Finance Private Limited | Director | 01 Aug 2014 | 12 Years 2 Months | Current |
| Ramakant Bhala Also directs: Bhala Finance Private Limited | Director | 01 Aug 2014 | 12 Years 2 Months | Current |
| Nikita Saboo Also directs: Tejasedge Ventures LLP | Director | 08 Jun 2019 | 7 Years 4 Months | Current |
| Snhe Lata Bhala Also directs: Bhala Finance Private Limited | Director | 01 Aug 2014 | 12 Years 2 Months | Current |
Ownership and Shareholding of Bhala Operations Private 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 Bhala Operations Private Limited
Bhala Operations Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Bhala Operations Private Limited
Employment history and EPFO contributions of people linked to Bhala Operations.
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.
Name History of Bhala Operations Private Limited
Bhala Operations has undergone 4 name changes throughout its history. The current legal name is Bhala Operations Private Limited.
| Company Name | Status |
|---|---|
| Bhala Operations Private Limited | Current |
| Bhala Ventures Private Limited | Previous |
| Bhala Holding Private Limited | Previous |
| Bhala Builders Private Limited | Previous |
Recent Activity on Bhala Operations Private Limited
Bhala Operations Private Limited has 5 board changes on record since 2014: 4 appointments and 1 cessation. The latest: Nikita Saboo ceased to be Additional Director on 21 Aug 2019.
Credit Ratings, Litigation & Regulatory Alerts for Bhala Operations Private 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.
MSME Payment Delays by Bhala Operations Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Bhala Operations Private 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 Bhala Operations Private Limited
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 Bhala Operations Private 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.
Frequently Asked Questions about Bhala Operations Private Limited
Bhala Operations is an active private limited company based in Jaipur, Rajasthan, India. The company works in brokerage and trading services, within the financial services industry. It was incorporated on 01 August 2014 (12+ years old) and is registered under CIN U70101RJ2014PTC046008.
Bhala Operations reported revenue of ₹17.75 Cr for FY 2025 (down 12% YoY).
Bhala Operations has 4 current directors:
- Harsh Bhala - Director
- Ramakant Bhala - Director
- Nikita Saboo - Director
- Snhe Lata Bhala - Director
Bhala Operations reported a net profit of ₹9.71 Lakh (net margin 0.5%) and EBITDA of ₹94.23 Lakh (EBITDA margin 5.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Bhala Operations is 11% over three years and 216% over five years. In the latest year (FY 2025) revenue fell 12%. CAGR is the steady yearly rate that links the first and the last year.
The CIN (Corporate Identification Number) of Bhala Operations is U70101RJ2014PTC046008. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Bhala Operations was incorporated on 01 August 2014, making it 12+ years old. It is registered with the Registrar of Companies, Jaipur.
The peers of Bhala Operations by revenue are Agrahar Securities Private Limited, Starrise Merchants Private Limited, Jaguar Consultants Private Limited, Arth Distributors Private Limited, Firstock Broking Private Limited and 5 more, all in the BFSI industry (Broking Services).
Nikita Saboo ceased to be Additional Director on 21 Aug 2019. Nikita Saboo was appointed as Director on 08 Jun 2019. Harsh Bhala was appointed as Director on 01 Aug 2014. Bhala Operations has 5 board changes on record in total.
The registered office of Bhala Operations is at 6 – B 4th Floor Man Upasana Plaza C – 44 Sardar Patel Marg C – Scheme, Jaipur, Rajasthan, India – 302001.
Bhala Operations has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1 Cr.