Credence Workforce India Private Limited
About Credence Workforce India Private Limited
Data last updated:
Credence Workforce India Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the human resources segment of the professional services sector. It was incorporated on 17 September 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U68200KA2018PTC116350. Its GSTIN is 29AAHCC7493F1Z8 (Karnataka).
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹90,000. It is led by directors Vidyadhara Achari and Koppalu Nagarajappa Rajakumara.
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 1689 Aecs A Block Hal Bda Layout Singasandra, Bangalore, Karnataka, India – 560068.
As per the financials filed for FY 2024, the company reported a revenue of ₹25.81 Lakh, a decline of 31% compared to the previous year. For the same year it recorded a net loss of ₹3.66 Lakh (net margin -14.2%) and EBITDA of -₹3.66 Lakh (EBITDA margin -14.2%). Revenue has declined at a compounded annual rate (CAGR) of 9% over three years.
The company has about 8 employees on its provident fund (EPFO) records.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address1689 Aecs A Block Hal Bda Layout Singasandra, Bangalore, Karnataka, India – 560068
- IndustryProfessional Services, Human Resources, Placement 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
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Business Activity of Credence Workforce India Private Limited
The main business activity of Credence Workforce India is support service to organizations. In detail, this covers placement agencies and hr management services.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| N | Support service to Organizations | N2 | Placement agencies and HR management 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 Credence Workforce India Private Limited FY 2024 filings available
Credence Workforce India Private Limited reported revenue of ₹25.81 Lakh (down 31% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Credence Workforce India Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 9% over three years, including a 31% fall in the latest year. EBITDA rose 11% 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 Credence Workforce India Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹25.81 Lakh | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹3.66 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹3.66 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 Credence Workforce India Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -14.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -14.2% | •••• | •••• | •••• | •••• |
| 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 Credence Workforce India are in the company report.
Financial statements from FY 2019
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 Credence Workforce India Private Limited
Credence Workforce India Private Limited is compared with the companies closest to it by revenue in the same principal business activity (Placement agencies and HR management 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 |
|---|---|---|---|---|---|---|
| Provance Business Consulting Private Limited | ₹25.96 Lakh (FY 2024) | •••• | •••• | -49.0% | •••• | Bangalore, Karnataka, India |
| Optimo Talent Management Private Limited | ₹25.95 Lakh (FY 2024) | •••• | •••• | -91.0% | •••• | Bangalore, Karnataka, India |
| Aimz Consultants Private Limited | ₹25.93 Lakh (FY 2024) | •••• | •••• | 18.0% | •••• | Mumbai, Maharashtra, India |
| Hawthorne Intellect Management Solutions Private Limited | ₹25.89 Lakh (FY 2015) | •••• | •••• | -1.0% | •••• | Delhi, India |
| Human Resource Centre for Traning and Development Private Limited | ₹25.84 Lakh (FY 2024) | •••• | •••• | -50.0% | •••• | Bangalore, Karnataka, India |
| Credence Workforce India Private Limited this company | ₹25.81 Lakh (FY 2024) | •••• | •••• | -31.0% | •••• | Bangalore, Karnataka, India |
| Cloudinfoinc Private Limited | ₹25.79 Lakh (FY 2025) | •••• | •••• | -66.0% | •••• | Hyderabad, Telangana, India |
| VR 360 Degree Solutions India Private Limited | ₹25.76 Lakh (FY 2017) | •••• | •••• | 161.0% | •••• | Pune, Maharashtra, India |
| Gateway Search India Private Limited | ₹25.73 Lakh (FY 2025) | •••• | •••• | -55.0% | •••• | Delhi, India |
| New Way Staffing Solutions Private Limited | ₹25.71 Lakh (FY 2024) | •••• | •••• | 13.0% | •••• | Delhi, India |
| Ralsav Industries Private Limited | ₹25.64 Lakh (FY 2024) | •••• | •••• | 135.0% | •••• | Navi Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Credence Workforce India by revenue in the same principal business activity (Placement agencies and HR management 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 Credence Workforce India Private Limited
Credence Workforce India Private Limited is audited by SUMUKHA & ASSOCIATES for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| SUMUKHA & ASSOCIATES | 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 Credence Workforce India Private Limited
Credence Workforce India has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vidyadhara Achari | Director | 17 Sep 2018 | 8 Years 0 Months | Current |
| Koppalu Nagarajappa Rajakumara | Director | 17 Sep 2018 | 8 Years 0 Months | Current |
Ownership and Shareholding of Credence Workforce India 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 Credence Workforce India Private Limited
Credence Workforce India Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Credence Workforce India Private Limited
Credence Workforce India Private Limited has a workforce of 8 employees as of Apr 01, 2024.
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.
CIN History of Credence Workforce India Private Limited
Credence Workforce India has one previous CIN (Corporate Identification Number): U74999KA2018PTC116350. The current CIN is U68200KA2018PTC116350, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U68200KA2018PTC116350 | Current |
| U74999KA2018PTC116350 | Previous |
Recent Activity on Credence Workforce India Private Limited
Credence Workforce India Private Limited has 3 board changes on record since 2018: 2 appointments and 1 cessation. The latest: Suresh Ganapati Naik ceased to be Director on 18 Jul 2020.
Credit Ratings, Litigation & Regulatory Alerts for Credence Workforce India 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 Credence Workforce India 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 Credence Workforce India 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 Credence Workforce India Private Limited
Credence Workforce India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAHCC7493F1Z8 | Karnataka | Active | 26 Apr 2019 |
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 Credence Workforce India 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 Credence Workforce India Private Limited
Credence Workforce India is an active private limited company based in Bangalore, Karnataka, India. The company works in human resources, within the professional services industry. It was incorporated on 17 September 2018 (8+ years old) and is registered under CIN U68200KA2018PTC116350.
Credence Workforce India reported revenue of ₹25.81 Lakh for FY 2024 (down 31% YoY).
Credence Workforce India has 2 current directors:
- Vidyadhara Achari - Director
- Koppalu Nagarajappa Rajakumara - Director
Credence Workforce India reported a net loss of ₹3.66 Lakh (net margin -14.2%) and EBITDA of -₹3.66 Lakh (EBITDA margin -14.2%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Credence Workforce India is -9% over three years. In the latest year (FY 2024) revenue fell 31%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Credence Workforce India is 29AAHCC7493F1Z8, registered in Karnataka.
The CIN (Corporate Identification Number) of Credence Workforce India is U68200KA2018PTC116350. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Credence Workforce India was incorporated on 17 September 2018, making it 8+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Credence Workforce India by revenue are Provance Business Consulting Private Limited, Optimo Talent Management Private Limited, Aimz Consultants Private Limited, Hawthorne Intellect Management Solutions Private Limited, Human Resource Centre for Traning and Development Private Limited and 5 more, all in the same principal business activity (Placement agencies and HR management services).
Suresh Ganapati Naik ceased to be Director on 18 Jul 2020. Koppalu Nagarajappa Rajakumara was appointed as Director on 17 Sep 2018. Vidyadhara Achari was appointed as Director on 17 Sep 2018.
The registered office of Credence Workforce India is at 1689 Aecs A Block Hal Bda Layout Singasandra, Bangalore, Karnataka, India – 560068.