MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-19-0026078
M2p BSG Itsoft Private Limited - information technology in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹43.49 Cr
▼ 8% YoY
Net loss · FY 2025
₹21.92 Lakh
Net margin -0.5%
EBITDA · FY 2025
₹15.16 Cr
EBITDA margin 34.9%
Authorised capital
₹25 Lakh
Registered with MCA
Paid-up capital
₹6.11 Lakh
Issued & subscribed
Open charges
₹29.2 Lakh
Satisfied ₹9.25 Cr
Company age
16 yrs
Est. 2010
Employees · EPFO
144
Provident fund records
About M2p BSG Itsoft Private Limited
Data last updated:
M2p BSG Itsoft Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 18 January 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72200MH2010PTC198979. Its GSTIN is 27AADCB9764C1ZL (Maharashtra).
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹6.11 Lakh. It was formerly known as Bsg Itsoft Private Limited. It is led by directors including Rangarajan Madhusudanan and Muthukumar Ayyakkannu.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹43.49 Cr, a decline of 8% compared to the previous year. For the same year it recorded a net loss of ₹21.92 Lakh (net margin -0.5%) and EBITDA of ₹15.16 Cr (EBITDA margin 34.9%). Revenue has grown at a compounded annual rate (CAGR) of 51% over three years and 29% over five years.
The company has about 144 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: BSG. As per MCA filings, the company has open charges of ₹29.2 Lakh and satisfied charges of ₹9.25 Cr on record. The company has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022. Its 10 peer companies in the same principal business activity (computer programming, consultancy and related activities) are compared by revenue, 5 larger and 5 smaller; the largest is Arc Document Solutions India Private Limited with revenue of ₹43.71 Cr.
M2p BSG Itsoft Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0026078). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bsg.ind.in.
Company details
CIN U72200MH2010PTC198979
Registration Number 198979
Incorporation Date 18 January 2010
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-19-0026078
Key People
Rangarajan Madhusudanan Director Muthukumar Ayyakkannu Director Prabhu Rangarajan Director Recognitions & Rankings of M2p BSG Itsoft
Contact details
M2p BSG Itsoft Private Limited's registered office is in Mumbai, Maharashtra. Its website is bsg.ind.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressUnit No 902 9th Floor Tower B Embassy 247, Lal Bahadur Shastri Marg Vikhroli West, Mumbai, Maharashtra, India – 400083
- IndustryInformation Technology, Application Development & Software Solutions
To see the full contact details of M2p BSG Itsoft Private Limited, buy the company report.
Comprehensive company report
M2p BSG Itsoft 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
M2p BSG Itsoft operates one associated brand: BSG. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Cloud-based core banking solution | bsg.ind.in |
Business activity
The main business activity of M2p BSG Itsoft is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of M2p BSG Itsoft Private Limited, buy the company report.
Financials of M2p BSG Itsoft Private Limited
FY 2025 filings availableM2p BSG Itsoft Private Limited reported revenue of ₹43.49 Cr (down 8% YoY) for FY 2025.
Revenue · FY 2025
₹43.49 Cr ▼ 8%
Net loss · FY 2025
₹21.92 Lakh margin -0.5%
EBITDA · FY 2025
₹15.16 Cr margin 34.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 8%
3 years · compounded
▲ 51%
5 years · compounded
▲ 29%
EBITDA CAGR growth
1 year
▲ 7%
3 years · compounded
▲ 47%
5 years · compounded
▲ 79%
Revenue fell 8% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 29%. EBITDA rose 7% 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 | ₹15.16 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹21.92 Lakh | ||||
| 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 | 34.9% | ||||
| Net Profit Margin | -0.5% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of M2p BSG Itsoft Private Limited, buy the company report.
Board of directors of M2p BSG Itsoft Private Limited
M2p BSG Itsoft has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rangarajan Madhusudanan Also directs: Finana Partners LLP, Chennai-Falcons E-Cricket League LLP, FF Payments Tech Private Limited and 4 more | Director | 05 Jul 2023 | 3 Years 4 Months | Current |
| Muthukumar Ayyakkannu Also directs: FF Payments Tech Private Limited, Conflux Technologies Private Limited, Syntizen Technologies Private Limited and 5 more | Director | 05 Jul 2023 | 3 Years 4 Months | Current |
| Prabhu Rangarajan Also directs: Finana Partners LLP, FF Payments Tech Private Limited, Conflux Technologies Private Limited and 4 more | Director | 01 Jun 2022 | 4 Years 5 Months | Current |
Peer comparison
M2p BSG Itsoft Private Limited is compared with the 10 companies closest to it by revenue in the same principal business activity (computer programming, consultancy and related activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Arc Document Solutions India Private Limited | ₹43.71 Cr (FY 2025) | 6.0% | Kolkata, West Bengal, India | |||
| Aureustech Systems Private Limited | ₹43.59 Cr (FY 2025) | -4.0% | Bangalore, Karnataka, India | |||
| Tekskills India Private Limited | ₹43.55 Cr (FY 2025) | 0.0% | Hyderabad, Telangana, India | |||
| Shoptimize India Private Limited | ₹43.55 Cr (FY 2025) | -42.0% | Pune, Maharashtra, India | |||
| Tryzens India Private Limited | ₹43.51 Cr (FY 2025) | 5.0% | Thiruvananthapuram, Kerala, India | |||
| M2p BSG Itsoft Private Limitedthis company | ₹43.49 Cr (FY 2025) | -₹21.92 Lakh | -0.5% | -8.0% | 144 | Mumbai, Maharashtra, India |
| Amicorp Management India Private Limited | ₹43.48 Cr (FY 2024) | -22.0% | Bangalore, Karnataka, India | |||
| Digitalapicraft Private Limited | ₹43.46 Cr (FY 2025) | 41.0% | Bangalore, Karnataka, India | |||
| Jivox Software India Private Limited | ₹43.33 Cr (FY 2025) | 6.0% | Bangalore, Karnataka, India | |||
| Iandr Technologies Private Limited | ₹43.3 Cr (FY 2023) | 88.0% | Chennai, Tamil Nadu, India | |||
| Knolskape Solutions Private Limited | ₹43.3 Cr (FY 2024) | 13.0% | Bangalore, Karnataka, India |
To see the full peer comparison of M2p BSG Itsoft Private Limited, buy the company report.
Auditor
M2p BSG Itsoft Private Limited is audited by GD Bhati and Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GD Bhati and Associates | FY 2023 | 105047W |
Shareholding
The shareholding of M2p BSG Itsoft 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 M2p BSG Itsoft Private Limited, buy the company report.
Charges & borrowings
Open charges
₹29.2 Lakh
Satisfied charges
₹9.25 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Jul 2017 | 100121715 | Hdfc Bank Limited | ₹29.2 Lakh | Open | |
| 12 Mar 2021 | 100451819 | Others | ₹9.25 Cr | Satisfied |
To see the full charge records of M2p BSG Itsoft Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
M2p BSG Itsoft Private Limited has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022.
Total deals
3
Rights issues
2
Acquisition
1
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2022 | Acquisition | Undisclosed | Buyer: M2p Solutions Private Limited |
| Jun 2021 | Rights issue | ₹7.83 Cr | Investors: 3 individuals |
| Apr 2019 | Rights issue | ₹4.75 Cr | Investors: an individual |
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 M2p BSG Itsoft 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
No delayed payments to MSME suppliers are on our record for M2p BSG Itsoft Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
M2p BSG Itsoft Private Limited has a workforce of 144 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
Employee count
144
Active EPFO establishments
1
Employee growth
2.86%
GST
M2p BSG Itsoft has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCB9764C1ZL | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of M2p BSG Itsoft Private Limited, buy the company report.
Recent activity
M2p BSG Itsoft Private Limited has 9 board changes on record since 2021: 3 appointments and 6 cessations. The latest: Muthukumar Ayyakkannu ceased to be Additional Director on 29 Sep 2023.
AGM
M2P Bsg Itsoft Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Filing
M2P Bsg Itsoft Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge registered on 12 Mar 2021 via Charge ID 100451819 with Others was fully satisfied on 15 Feb 2024.
Ceased
Muthukumar Ayyakkannu ceased to be Additional Director.
Ceased
Rangarajan Madhusudanan ceased to be Additional Director.
Appointed
Muthukumar Ayyakkannu was appointed as Director.
Appointed
Rangarajan Madhusudanan was appointed as Director.
Ceased
Prabhu Rangarajan ceased to be Additional Director.
Appointed
Prabhu Rangarajan was appointed as Director.
Ceased
Ramesh Shetty Sooranna ceased to be Director.
Ceased
Srinivasan Venkataraman ceased to be Director.
Charges
A charge with Hdfc Bank Limited of Rs. 29.20 Lakh registered on 05 Jul 2017 with Charge ID 100121715 was modified on 29 Jun 2021.
5 earlier events are in the company report.
Frequently asked questions
M2p BSG Itsoft is an active private limited company based in Mumbai, Maharashtra, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 18 January 2010 (16+ years old) and is registered under CIN U72200MH2010PTC198979.
M2p BSG Itsoft has 3 current directors:
- Rangarajan Madhusudanan - Director
- Muthukumar Ayyakkannu - Director
- Prabhu Rangarajan - Director
The latest financial statements of M2p BSG Itsoft on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of M2p BSG Itsoft is 27AADCB9764C1ZL, registered in Maharashtra.
The CIN (Corporate Identification Number) of M2p BSG Itsoft is U72200MH2010PTC198979. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
M2p BSG Itsoft was incorporated on 18 January 2010, making it 16+ years old. It is registered with the Registrar of Companies, Mumbai.
M2p BSG Itsoft has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022.
The peers of M2p BSG Itsoft by revenue are Arc Document Solutions India Private Limited, Aureustech Systems Private Limited, Tekskills India Private Limited, Shoptimize India Private Limited, Tryzens India Private Limited and 5 more, all in the same principal business activity (computer programming, consultancy and related activities).
Muthukumar Ayyakkannu ceased to be Additional Director on 29 Sep 2023. Rangarajan Madhusudanan ceased to be Additional Director on 29 Sep 2023. Muthukumar Ayyakkannu was appointed as Director on 05 Jul 2023. M2p BSG Itsoft has 9 board changes on record in total.
Yes, M2p BSG Itsoft is registered as a small enterprise under Udyam registration (number: UDYAM-MH-19-0026078).
M2p BSG Itsoft can be reached through the website bsg.ind.in. Its registered office is in Mumbai, Maharashtra, India.
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