MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-18-0000675
Choice Equity Broking Private Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹426.8 Cr
▲ 22% YoY
Net profit · FY 2025
₹81.48 Cr
Net margin 19.1%
EBITDA · FY 2025
₹139.51 Cr
EBITDA margin 32.7%
Authorised capital
₹9.5 Cr
Registered with MCA
Paid-up capital
₹8.91 Cr
Issued & subscribed
Open charges
₹520 Cr
Satisfied ₹300.25 Cr
Company age
16 yrs
Est. 2010
Employees · EPFO
731
Provident fund records
About Choice Equity Broking Private Limited
Data last updated:
Choice Equity Broking Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Choice International Limited. It operates in the brokerage and trading services segment of the financial services sector. It was incorporated on 09 January 2010 and has been in existence for over 16 years.
Its director Kamal Poddar and family are #1,009 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U65999MH2010PTC198714. Its GSTIN is 27AADCC8390B1ZQ (Maharashtra). The company holds 18 GST registrations, of which 17 are active.
The company has an authorised share capital of ₹9.5 Cr and a paid-up capital of ₹8.91 Cr. It was formerly known as Choice Equity Trading Private Limited. It is led by directors including Ashok Kumar Thakur and Sunil Bagaria.
Its last annual general meeting (AGM) was held on 16 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Sunil Patodia Tower Plot No. 156 – 158 J.B. Nagar Andheri (East), Mumbai, Maharashtra, India – 400099.
As per the financials filed for FY 2025, the company reported a revenue of ₹426.8 Cr, a growth of 22% compared to the previous year. For the same year it recorded a net profit of ₹81.48 Cr (net margin 19.1%) and EBITDA of ₹139.51 Cr (EBITDA margin 32.7%). Revenue has grown at a compounded annual rate (CAGR) of 39% over three years and 38% over five years.
The company has about 731 employees on its provident fund (EPFO) records. Its group structure includes 6 subsidiaries.
The company is associated with 2 brands: Choice Connect and Investica. As per MCA filings, the company has open charges of ₹520 Cr and satisfied charges of ₹300.25 Cr on record. Court records list 25 cases involving the company, including 13 filed by the company and 12 filed against it; 11 cases are pending. The company has 8 deals on record (6 funding rounds, 1 convertible or debt financing, 1 acquisition), with disclosed funding of ₹956.04 Cr; the latest was in July 2026. Its 4 peer companies in the BFSI industry (Broking Services), with the same principal business activity (financial advisory, brokerage and consultancy services) are compared by revenue, 3 larger and 1 smaller; the largest is Specific Commodities Private Limited with revenue of ₹448.17 Cr.
Choice Equity Broking Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0000675). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website choicebroking.in.
Company details
CIN U65999MH2010PTC198714
Registration Number 198714
Incorporation Date 09 January 2010
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 16 September 2025
Date of Balance Sheet 31 March 2024
Parent Company Choice International Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-18-0000675
Key People
Ashok Kumar Thakur Director Sunil Bagaria Director Vijay Rajendra Kejriwal Additional Director Recognitions & Rankings of Choice Equity Broking
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,009 Kamal Poddar & family ₹2,700 Cr
Contact details
Choice Equity Broking Private Limited's registered office is in Mumbai, Maharashtra. Its website is choicebroking.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered AddressSunil Patodia Tower Plot No. 156 – 158 J.B. Nagar Andheri (East), Mumbai, Maharashtra, India – 400099
- IndustryFinancial Services, Brokerage & Trading Services
To see the full contact details of Choice Equity Broking Private Limited, buy the company report.
Comprehensive company report
Choice Equity Broking 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
Choice Equity Broking operates two associated brands: Choice Connect and Investica. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Facilitates financial product sales through a platform for associates. | choiceconnect.in | |
| Mutual funds are bought and tracked via an online platform. | investica.com |
Business activity
The main business activity of Choice Equity Broking is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K7 | Financial Advisory, brokerage and Consultancy Services |
To see the full business activity and turnover split of Choice Equity Broking Private Limited, buy the company report.
Financials of Choice Equity Broking Private Limited
FY 2024 filings availableChoice Equity Broking Private Limited reported revenue of ₹426.8 Cr (up 22% YoY) for FY 2025.
Revenue · FY 2025
₹426.8 Cr ▲ 22%
Net profit · FY 2025
₹81.48 Cr margin 19.1%
EBITDA · FY 2025
₹139.51 Cr margin 32.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 22%
3 years · compounded
▲ 39%
5 years · compounded
▲ 38%
EBITDA CAGR growth
1 year
▲ 43%
3 years · compounded
▲ 43%
5 years · compounded
▲ 41%
Revenue has grown at a compounded annual rate (CAGR) of 38% over five years, including 22% growth in the latest year. EBITDA rose 43% 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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| Total Expenses | |||||
| EBITDA | ₹139.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹81.48 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
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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 | 32.7% | ||||
| Net Profit Margin | 19.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Choice Equity Broking Private Limited, buy the company report.
Board of directors of Choice Equity Broking Private Limited
Choice Equity Broking has 5 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 |
|---|---|---|---|---|
| Ashok Kumar Thakur Also directs: Choice International Limited, H.G. Infra Engineering Limited (Part IX), Navkar Corporation Limited and 2 more | Director | 22 Nov 2016 | 9 Years 11 Months | Current |
| Sunil Bagaria | Director | 27 Mar 2019 | 7 Years 7 Months | Current |
| Vijay Rajendra Kejriwal | Additional Director | 15 Oct 2025 | 1 Years 0 Months | Current |
| Kamal Poddar Also directs: Choice Strategic Advisors LLP, Choice International Limited, Choice Consultancy Services Private Limited and 5 more | Director | 09 Aug 2011 | 15 Years 2 Months | Current |
| Ajay Rajendra Kejriwal Also directs: Choice International Limited, Choice Finserv Private Limited, Middlepath Advisors LLP and 5 more | Director | 23 Apr 2016 | 10 Years 6 Months | Current |
Peer comparison
Choice Equity Broking Private Limited is compared with the 4 companies closest to it by revenue in the BFSI industry (Broking Services), with the same principal business activity (financial advisory, brokerage and consultancy services), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Specific Commodities Private Limited | ₹448.17 Cr (FY 2025) | 79.0% | Hisar, Haryana, India | |||
| Marwadi Chandarana Intermediaries Brokers Private Limited | ₹441.37 Cr (FY 2024) | 73.0% | Gandhinagar, Gujarat, India | |||
| Trade Winds Commodities & Derivatives Private Limited | ₹426.9 Cr (FY 2025) | 1032.0% | Indore, Madhya Pradesh, India | |||
| Choice Equity Broking Private Limitedthis company | ₹426.8 Cr (FY 2025) | ₹81.48 Cr | 19.1% | 22.0% | 731 | Mumbai, Maharashtra, India |
| Arete Securities Limited | ₹418.83 Cr (FY 2025) | -4.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Choice Equity Broking Private Limited, buy the company report.
Auditor
Choice Equity Broking Private Limited is audited by M K S K A & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M K S K A & Co. | FY 2023 | 105047W |
Shareholding
The shareholding of Choice Equity Broking 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 Choice Equity Broking Private Limited, buy the company report.
Charges & borrowings
Open charges
₹520 Cr
Satisfied charges
₹300.25 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Sep 2025 | 101172017 | Hdfc Bank Limited | ₹85 Cr | Open | |
| 18 Aug 2025 | 101152733 | Others | ₹50 Cr | Open | |
| 29 Jan 2025 | 101050939 | Others | ₹25 Cr | Open | |
| 18 Dec 2024 | 101028712 | Others | ₹60 Cr | Open | |
| 24 Sep 2024 | 100989244 | Others | ₹30 Cr | Open |
To see the full charge records of Choice Equity Broking Private Limited, buy the company report.
Total charge records: 20 View all charges
Deals & funding
Choice Equity Broking Private Limited has 8 deals on record (6 funding rounds, 1 convertible or debt financing, 1 acquisition), with disclosed funding of ₹956.04 Cr; the latest was in July 2026.
Total deals
8
Funding rounds
6
Convertible or debt financing
1
Acquisition
1
Disclosed funding
₹956.04 Cr
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2018 | Funding round | ₹10.01 Cr | Investors: Choice International Limited |
| Mar 2018 | Funding round | ₹10 Cr | Investors: Choice International Limited |
| Jun 2014 | Funding round | ₹14.14 Cr | Investors: Choice International Limited |
| Sep 2012 | Funding round | ₹11.56 Cr | Investors: Choice International Limited |
| Nov 2010 | Funding round | ₹40 Lakh | Investors: Choice International Limited |
To see the full deal history of Choice Equity Broking 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
Choice Equity Broking Private Limited has 25 court cases on record: 13 filed by Choice Equity Broking, 12 filed against it. 11 cases are pending and 14 are disposed.
Total cases
25
Filed by the company
13
Filed against the company
12
Pending
11
Disposed
14
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 9 | 10 |
| High courts | 3 | 2 | 1 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 25)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Kamrup Metro, Assam | Court case (Complaint Case C.R.) | Filed against the company by Mukand Infotel Pvt. Ltd. | Disposed |
| Supreme Court | Court case (1803-Ordinary Civil Matters : Civil matters arising out of Securities Act, 1992) | Filed against the company by National Stock Exchange of India Limited Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E) ,Mumbai , Maharashtra | Disposed |
| High Court, MAHARASHTRA | Writ petition | Filed against the company by Denim Feb (Mumbai) Pvt Ltd and 4 others | Disposed |
| District court, Idukki, Kerala | Civil suit | Filed against the company by an individual | Pending |
| District court, Idukki, Kerala | Civil suit | Filed against the company by an individual | Pending |
To see the full case history of Choice Equity Broking Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Choice Equity Broking Private Limited was last rated by Brickwork on 28 Apr 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Brickwork | 28 Apr 2022 |
To see the full credit ratings and regulatory alerts of Choice Equity Broking Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Choice Equity Broking Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Choice Equity Broking has 6 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
6
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Choice Wealth Private Limited | U65999MH2010PTC198598 | |
| Choice Corporate Services Private Limited | U67190MH2011PTC214515 | |
| Choice Portfolio Management Services Private Limited | U74140MH2007PTC177075 | |
| Shreeyam Securities Limited | U74899DL1994PLC062140 | |
| Choice Connect Private Limited | U74999MH2015PTC268856 | |
| Choice Tech Lab Solutions Private Limited | U74999MH2016PTC286302 |
To see the full group structure of Choice Equity Broking Private Limited, buy the company report.
Employees & EPFO
Choice Equity Broking Private Limited has a workforce of 731 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
Employee count
731
Active EPFO establishments
1
Employee growth
50.72%
GST
Choice Equity Broking has 18 GST registrations: 17 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
18
Active
17
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCC8390B1ZQ | Maharashtra | Active | 01 Jul 2017 |
| 24AADCC8390B1ZW | Gujarat | Active | 01 Jul 2017 |
| 29AADCC8390B1ZM | Karnataka | Active | 01 Jul 2017 |
| 33AADCC8390B1ZX | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Choice Equity Broking Private Limited, buy the company report.
Recent activity
Choice Equity Broking Private Limited has 16 board changes on record since 2011: 5 appointments and 11 cessations. The latest: Vijay Rajendra Kejriwal was appointed as Additional Director on 15 Oct 2025.
Appointed
Vijay Rajendra Kejriwal was appointed as Additional Director.
Charges
A charge registered on 28 Jun 2024 via Charge ID 100947912 with Others was fully satisfied on 04 Oct 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 85.00 Cr with Charge ID 101172017 was registered on 24 Sep 2025.
AGM
Choice Equity Broking Private Limited last Annual general meeting of members was held on 16 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 50.00 Cr with Charge ID 101152733 was registered on 18 Aug 2025.
Charges
A charge registered on 05 Mar 2019 via Charge ID 100257283 with Others was fully satisfied on 23 May 2025.
Charges
A charge registered on 26 Feb 2024 via Charge ID 100881553 with Others was fully satisfied on 21 Mar 2025.
Charges
A charge with Others amounted to Rs. 25.00 Cr with Charge ID 101050939 was registered on 29 Jan 2025.
Charges
A charge with Others of Rs. 40.00 Cr registered on 29 Dec 2023 with Charge ID 100849250 was modified on 07 Jan 2025.
Charges
A charge with Others amounted to Rs. 60.00 Cr with Charge ID 101028712 was registered on 18 Dec 2024.
Charges
A charge registered on 05 Mar 2019 via Charge ID 100250436 with Others was fully satisfied on 19 Oct 2024.
Charges
A charge with Others of Rs. 125.00 Cr registered on 24 Aug 2022 with Charge ID 100607473 was modified on 16 Oct 2024.
43 earlier events are in the company report.
News
Frequently asked questions
Choice Equity Broking is an active private limited company based in Mumbai, Maharashtra, India. The company works in brokerage and trading services, within the financial services industry. It was incorporated on 09 January 2010 (16+ years old) and is registered under CIN U65999MH2010PTC198714.
Choice Equity Broking has 5 current directors:
- Ashok Kumar Thakur - Director
- Sunil Bagaria - Director
- Vijay Rajendra Kejriwal - Additional Director
- Kamal Poddar - Director
- Ajay Rajendra Kejriwal - Director
The latest financial statements of Choice Equity Broking on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 16 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Choice Equity Broking is 27AADCC8390B1ZQ, registered in Maharashtra. The company has 18 GST registrations in all, of which 17 are active and 1 is cancelled or inactive. Other active GSTINs include 24AADCC8390B1ZW (Gujarat), 29AADCC8390B1ZM (Karnataka), 33AADCC8390B1ZX (Tamil Nadu).
The CIN (Corporate Identification Number) of Choice Equity Broking is U65999MH2010PTC198714. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Choice Equity Broking has 25 court cases on record: 13 filed by the company and 12 filed against it. 11 are pending. Most are in the district courts.
Choice Equity Broking was incorporated on 09 January 2010, making it 16+ years old. It is registered with the Registrar of Companies, Mumbai.
Choice Equity Broking has 8 deals on record (6 funding rounds, 1 convertible or debt financing, 1 acquisition), with disclosed funding of ₹956.04 Cr; the latest was in July 2026.
The peers of Choice Equity Broking by revenue are Specific Commodities Private Limited, Marwadi Chandarana Intermediaries Brokers Private Limited, Trade Winds Commodities & Derivatives Private Limited, Arete Securities Limited, all in the BFSI industry (Broking Services), with the same principal business activity (financial advisory, brokerage and consultancy services).
Vijay Rajendra Kejriwal was appointed as Additional Director on 15 Oct 2025. Hanuman Govind Patel ceased to be Company Secretary on 18 Sep 2019. Sunil Bagaria was appointed as Director on 27 Mar 2019. Choice Equity Broking has 16 board changes on record in total.
Yes, Choice Equity Broking is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-18-0000675).
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