MSME (Udyam registered) Ministry of MSME
- Udyam number
- UDYAM-KR-03-0182859
Convertcart AI System Private Limited - information technology in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹18.92 Cr
▼ 12% YoY
Net profit · FY 2024
₹12.15 Lakh
Net margin 0.6%
EBITDA · FY 2024
₹57.34 Lakh
EBITDA margin 3%
Authorised capital
₹70 Lakh
Registered with MCA
Paid-up capital
₹60.15 Lakh
Issued & subscribed
Open charges
₹1 Cr
Satisfied ₹1.5 Cr
Company age
7 yrs
Est. 2019
Employees · EPFO
94
Provident fund records
About Convertcart AI System Private Limited
Data last updated:
Convertcart AI System Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 25 December 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2019PTC131007. Its GSTIN is 29AAICC5458R1ZP (Karnataka).
The company has an authorised share capital of ₹70 Lakh and a paid-up capital of ₹60.15 Lakh. It was formerly known as Convertcart Solutions Private Limited. It is led by directors including Shekhar Kapoor and Arun Kumar Kumara Krishnan.
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 Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹18.92 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net profit of ₹12.15 Lakh (net margin 0.6%) and EBITDA of ₹57.34 Lakh (EBITDA margin 3%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years.
The company has about 94 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: ConvertCart. As per MCA filings, the company has open charges of ₹1 Cr and satisfied charges of ₹1.5 Cr on record. The company has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹3.8 Cr; the latest was in March 2020.
Convertcart AI System Private Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-KR-03-0182859). For more details, the company can be reached via its website convertcart.com.
Company details
CIN U72900KA2019PTC131007
Registration Number 131007
Incorporation Date 25 December 2019
ROC Bangalore
Listing Status Unlisted
Company Status Active
MSME Classification MSME
Udyam Registration UDYAM-KR-03-0182859
Key People
Naganand Doraswamy Nominee Director Shekhar Kapoor Director Arun Kumar Kumara Krishnan Director Recognitions & Rankings of Convertcart AI System
Contact details
Convertcart AI System Private Limited's registered office is in Bangalore, Karnataka. Its website is convertcart.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressNo. 33/1 First Floor Castle Street, Ashok Nagar Richmond Town, Bangalore, Karnataka, India – 560025
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Convertcart AI System Private Limited, buy the company report.
Comprehensive company report
Convertcart AI System 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
Convertcart AI System operates one associated brand: ConvertCart. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| eCommerce platform provider enhancing conversion rates and email marketing revenue | convertcart.com |
Business activity
The main business activity of Convertcart AI System 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 Convertcart AI System Private Limited, buy the company report.
Financials of Convertcart AI System Private Limited
FY 2024 filings availableConvertcart AI System Private Limited reported revenue of ₹18.92 Cr (down 12% YoY) for FY 2024.
Revenue · FY 2024
₹18.92 Cr ▼ 12%
Net profit · FY 2024
₹12.15 Lakh margin 0.6%
EBITDA · FY 2024
₹57.34 Lakh margin 3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 12%
3 years · compounded
▲ 4%
EBITDA CAGR growth
1 year
▼ 5%
3 years · compounded
▲ 3%
Revenue fell 12% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 4%. EBITDA fell 5% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹57.34 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹12.15 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3% | ||||
| Net Profit Margin | 0.6% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Convertcart AI System Private Limited, buy the company report.
Board of directors of Convertcart AI System Private Limited
Convertcart AI System has 3 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Naganand Doraswamy Also directs: Ideaspring Advisors LLP, Ideaspring Capital Advisors LLP, Ideaspring Capital Fund III Advisors LLP and 5 more | Nominee Director | 13 Mar 2020 | 6 Years 7 Months | Current |
| Shekhar Kapoor | Director | 27 Dec 2022 | 3 Years 10 Months | Current |
| Arun Kumar Kumara Krishnan Also directs: Convertcart LLP | Director | 25 Dec 2019 | 6 Years 10 Months | Current |
Auditor
Convertcart AI System Private Limited is audited by S D S & Co. Charted accountants for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S D S & Co. Charted accountants | FY 2023 | 015679S |
Shareholding
The shareholding of Convertcart AI System Private Limited is on record for 4 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 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Convertcart AI System Private Limited, buy the company report.
Charges & borrowings
Open charges
₹1 Cr
Satisfied charges
₹1.5 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Aug 2024 | 100968132 | Axis Bank Limited | ₹1 Cr | Open | |
| 08 Sep 2022 | 100626247 | Others | ₹1.5 Cr | Satisfied |
To see the full charge records of Convertcart AI System Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Convertcart AI System Private Limited has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹3.8 Cr; the latest was in March 2020.
Total deals
3
Secondary share transfers
2
Funding round
1
Disclosed funding
₹3.8 Cr
Deals on record (2 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jan 2020 | Secondary share transfer | Undisclosed | Buyer: V R Family Trust, Avanz Systems Inc, 2 individuals Seller: 4 individuals |
To see the full deal history of Convertcart AI System 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 Convertcart AI System 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 Convertcart AI System Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Convertcart AI System Private Limited has a workforce of 94 employees on its EPFO records as of May 2026.
Employee count
94
Employee growth
-28.8%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 94 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 |
To see the full employee and EPFO history of Convertcart AI System Private Limited, buy the company report.
GST
Convertcart AI System has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAICC5458R1ZP | Karnataka | Active | 30 Dec 2019 |
To see the full GST registrations and return filing status of Convertcart AI System Private Limited, buy the company report.
Recent activity
Convertcart AI System Private Limited has 5 board changes on record since 2019: 3 appointments and 2 cessations. The latest: Shekhar Kapoor ceased to be Additional Director on 29 Sep 2023.
AGM
Convertcart Ai System Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge registered on 08 Sep 2022 via Charge ID 100626247 with Others was fully satisfied on 24 Sep 2024.
Charges
A charge with Axis Bank Limited amounted to Rs. 100.00 Lakh with Charge ID 100968132 was registered on 22 Aug 2024.
Filing
Convertcart Ai System Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Ceased
Shekhar Kapoor ceased to be Additional Director.
Appointed
Shekhar Kapoor was appointed as Director.
Ceased
Venkata Regunathan Rajendran ceased to be Director.
Charges
A charge with Others amounted to Rs. 150.00 Lakh with Charge ID 100626247 was registered on 08 Sep 2022.
Appointed
Naganand Doraswamy was appointed as Nominee Director.
Appointed
Arun Kumar Kumara Krishnan was appointed as Director.
Incorporation
25 Dec 2019
Convertcart Ai System Private Limited was registered on 25 Dec 2019 with Roc Bangalore & aged 6 years 10 months as per MCA records.
Frequently asked questions
Convertcart AI System is an active private limited company based in Bangalore, Karnataka, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 25 December 2019 (7+ years old) and is registered under CIN U72900KA2019PTC131007.
Convertcart AI System has 3 current directors:
- Naganand Doraswamy - Nominee Director
- Shekhar Kapoor - Director
- Arun Kumar Kumara Krishnan - Director
The latest financial statements of Convertcart AI System 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 2020 are in the company report.
The GSTIN of Convertcart AI System is 29AAICC5458R1ZP, registered in Karnataka.
The CIN (Corporate Identification Number) of Convertcart AI System is U72900KA2019PTC131007. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Convertcart AI System was incorporated on 25 December 2019, making it 7+ years old. It is registered with the Registrar of Companies, Bangalore.
Convertcart AI System has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹3.8 Cr; the latest was in March 2020.
Shekhar Kapoor ceased to be Additional Director on 29 Sep 2023. Shekhar Kapoor was appointed as Director on 27 Dec 2022. Venkata Regunathan Rajendran ceased to be Director on 27 Dec 2022. Convertcart AI System has 5 board changes on record in total.
Yes, Convertcart AI System is registered as an MSME under Udyam registration (number: UDYAM-KR-03-0182859).
Convertcart AI System can be reached through the website convertcart.com. Its registered office is in Bangalore, Karnataka, India.
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