About Cygnet Infotech Private Limited
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Cygnet Infotech Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 22 August 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U72200GJ2000PTC038563. Its GSTIN is 24AABCC5127A1ZF (Gujarat). The company holds 6 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹7.5 Cr and a paid-up capital of ₹5.2 Cr. It is led by directors including Niraj Karnik Hutheesing (Managing Director) and Chatura Niraj Hutheesing (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ahmedabad, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹234.98 Cr, a growth of 3% compared to the previous year. For the same year it recorded a net profit of ₹23.41 Cr (net margin 10%) and EBITDA of ₹41.19 Cr (EBITDA margin 17.5%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 15% over five years.
The company has about 999 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 4 brands: Cygneto, Cygnet One, HRInnova and Cygnet Infotech. As per MCA filings, the company has open charges of ₹52.81 Cr and satisfied charges of ₹17.3 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company; 1 case is pending. The company has 6 deals on record (6 secondary share transfers); the latest was in March 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 Mastercard Mobile Transactions Solutions Private Limited with revenue of ₹237.06 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website cygnet-infotech.com.
- EmailLocked
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- Website
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- Registered Address16 – Swastik Society Nr. Amco Bank Stadium Circle Opp. Diamond Plaza Navr, Angpura, Ahmedabad, Gujarat, India – 380009
- IndustryInformation Technology, Application Development & Software Solutions, IT Consulting & Support 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 Cygnet Infotech Private Limited
The main business activity of Cygnet Infotech is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities | 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 Cygnet Infotech Private Limited FY 2025 filings available
Cygnet Infotech Private Limited reported revenue of ₹234.98 Cr (up 3% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Cygnet Infotech Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 15% over five years, including 3% growth in the latest year. EBITDA rose 14% 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 Cygnet Infotech 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 | ₹41.19 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹23.41 Cr | •••• | •••• | •••• | •••• |
| 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 Cygnet Infotech Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 17.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 10% | •••• | •••• | •••• | •••• |
| 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 Cygnet Infotech 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 Cygnet Infotech Private Limited
Cygnet Infotech Private Limited is compared with the companies closest to it by revenue in the same principal business activity (Computer programming, consultancy and related activities). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mastercard Mobile Transactions Solutions Private Limited | ₹237.06 Cr (FY 2025) | •••• | •••• | 26.0% | •••• | Pune, Maharashtra, India |
| STL Digital Limited | ₹236.48 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Silvasa, Dadra and Nagar Haveli, India |
| 63 Moons Technologies Limited Listed | ₹236.09 Cr (FY 2025) | •••• | •••• | -54.0% | •••• | Chennai, Tamil Nadu, India |
| Bitonic Technology Labs Private Limited | ₹235.86 Cr (FY 2025) | •••• | •••• | -1.0% | •••• | Bangalore, Karnataka, India |
| Invensis Technologies Private Limited | ₹235.21 Cr (FY 2024) | •••• | •••• | 16.0% | •••• | Bengaluru, Karnataka, India |
| Cygnet Infotech Private Limited this company | ₹234.98 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Ahmedabad, Gujarat, India |
| Techwave Consulting India Private Limited | ₹234.66 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Hyderabad, Telangana, India |
| Ncsi Technologies (India) Private Limited | ₹234.09 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Pune, Maharashtra, India |
| Cornerstone Ondemand Services India Private Limited | ₹233.63 Cr (FY 2024) | •••• | •••• | 27.0% | •••• | Mumbai, Maharashtra, India |
| Cyberark Software (India) Private Limited | ₹232.63 Cr (FY 2025) | •••• | •••• | 46.0% | •••• | Raidurg, Telangana, India |
| Openmind Software Private Limited | ₹231.85 Cr (FY 2024) | •••• | •••• | 0.0% | •••• | Delhi, India |
Peers are the five companies nearest above and the five nearest below Cygnet Infotech by revenue in the same principal business activity (Computer programming, consultancy and related activities), 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 Cygnet Infotech Private Limited
Cygnet Infotech Private Limited is audited by K C Mehta & Co LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| K C Mehta & Co LLP | 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 Cygnet Infotech Private Limited
Cygnet Infotech has 7 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chatura Niraj Hutheesing Also directs: Swa Art and Craft LLP, Cygnet Enterprise Private Limited, Cygnet Ace Fintech Private Limited and 3 more | Whole-Time Director | 29 Aug 2009 | 17 Years 1 Months | Current |
| Vishal Shrenik Shah Also directs: Cygnet Enterprise Private Limited | Director | 27 Dec 2000 | 25 Years 9 Months | Current |
| Niraj Karnik Hutheesing Also directs: Swa Art and Craft LLP, Jpoxy Polymers LLP, Cygnet Enterprise Private Limited and 5 more | Managing Director | 22 Aug 2000 | 26 Years 1 Months | Current |
| Keval Niraj Hutheesing Also directs: Cygnet Account Aggregation Private Limited | Director | 30 Aug 2022 | 4 Years 1 Months | Current |
| Tejinderpalsingh Pritamsingh Oberoi Also directs: Jpoxy Polymers LLP, Cygnet Enterprise Private Limited, Cygnet Fintech Ifsc Private Limited and 2 more | Whole-Time Director | 10 Dec 2013 | 12 Years 10 Months | Current |
| Apurva Shivji Ashar Also directs: Cygnet Digital Private Limited | Whole-Time Director | 01 Nov 2012 | 13 Years 11 Months | Current |
Ownership and Shareholding of Cygnet Infotech 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 Cygnet Infotech Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 22 Jun 2018 | Others | ₹52.81 Cr | Open |
| 14 Aug 2014 | Kotak Mahindra Bank Limited | ₹10 Cr | Satisfied |
| 22 Dec 2009 | Citibank N. A. | ₹4 Cr | Satisfied |
| 11 Dec 2009 | Citi Bank N.A. | ₹3 Cr | Satisfied |
| 23 Nov 2006 | Syndicate Bank | ₹30 Lakh | Satisfied |
Total charge records: 5 View all charges
Deals & Funding of Cygnet Infotech Private Limited
Cygnet Infotech Private Limited has 6 deals on record (6 secondary share transfers); the latest was in March 2022.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2022 | Secondary share transfer | Undisclosed | Seller: 4 individuals |
| Sep 2020 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: 2 individuals |
| Oct 2013 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Mar 2011 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Innovation Time Services Private Limited , an individual |
Full deal history
All 6 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Cygnet Infotech Private Limited
Cygnet Infotech Private Limited has 5 court cases on record: 5 filed by Cygnet Infotech. 1 case is pending and 4 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 0 | 0 |
| Supreme Court | 1 | 0 | 0 |
| District courts | 1 | 0 | 1 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed by the company against Sterling Indo Tech Consultants Private Limited | Pending |
| High Court of Gujarat | Special civil application | Filed by the company against Assistant Commissioner of Income Tax, Circle-1(1)(1) | Disposed |
| High Court of Gujarat | Special civil application | Filed by the company against an individual | Disposed |
| High Court of Gujarat | Special civil application | Filed by the company against Deputy Estate Officer- A'bad Municipal Corporation | Disposed |
| Supreme Court | Arbitration matter | Filed by the company against Velomatch Limited | Disposed |
Full case history
All 5 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Associated Brands with Cygnet Infotech Private Limited
Cygnet Infotech operates multiple associated brands including Cygneto, Cygnet One, and HRInnova. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers online sports betting and casino games via mobile app. | cygneto-apps.com | |
| A software solution for efficient accounting and financial management. | cygnet.one | |
| Delivers a web-based HRMS suite tailored for small and medium-sized businesses. | hrinnova.com | |
| IT services, tax and finance solutions, and digital engineering. | cygnet-infotech.com |
Employees and EPFO Compliance at Cygnet Infotech Private Limited
Cygnet Infotech Private Limited has a workforce of 999 employees as of Apr 07, 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.
Group Structure of Cygnet Infotech Private Limited
Cygnet Infotech has 2 subsidiary companies and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Cygnet Fintech Ifsc Private Limited | U67200GJ2023PTC138589 | Locked |
| Cygnto Apps Private Limited (India) | U74140GJ2015PTC083929 | Locked |
Showing major subsidiaries. Total: 2.
News related to Cygnet Infotech Private Limited
Recent Activity on Cygnet Infotech Private Limited
Cygnet Infotech Private Limited has 14 board changes on record since 2000: 7 appointments and 7 cessations. The latest: Pankaj Dikshit was appointed as Additional Director on 19 Dec 2025.
17 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Cygnet Infotech 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 Cygnet Infotech 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 Cygnet Infotech 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 Cygnet Infotech Private Limited
Cygnet Infotech has 6 GST registrations: 4 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCC5127A1ZF | Gujarat | Active | 01 Jul 2017 |
| 24AABCC5127A2ZE | Gujarat | Active | 01 May 2024 |
| 27AABCC5127A1Z9 | Maharashtra | Active | 01 Aug 2017 |
| 27AABCC5127A2Z8 | Maharashtra | Active | 15 May 2024 |
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 Cygnet Infotech 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 Cygnet Infotech Private Limited
Cygnet Infotech is an active private limited company based in Ahmedabad, Gujarat, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 22 August 2000 (26+ years old) and is registered under CIN U72200GJ2000PTC038563.
Cygnet Infotech reported revenue of ₹234.98 Cr for FY 2025 (up 3% YoY).
Cygnet Infotech has 7 current directors:
- Niraj Karnik Hutheesing - Managing Director
- Chatura Niraj Hutheesing - Whole-Time Director
- Tejinderpalsingh Pritamsingh Oberoi - Whole-Time Director
- Apurva Shivji Ashar - Whole-Time Director
- Vishal Shrenik Shah - Director
- Keval Niraj Hutheesing - Director
- Pankaj Dikshit - Additional Director
Cygnet Infotech reported a net profit of ₹23.41 Cr (net margin 10%) and EBITDA of ₹41.19 Cr (EBITDA margin 17.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Cygnet Infotech is 9% over three years and 15% over five years. In the latest year (FY 2025) revenue rose 3%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Cygnet Infotech is 24AABCC5127A1ZF, registered in Gujarat. The company has 6 GST registrations in all, of which 4 are active and 2 are cancelled or inactive. Other active GSTINs include 24AABCC5127A2ZE (Gujarat), 27AABCC5127A1Z9 (Maharashtra), 27AABCC5127A2Z8 (Maharashtra).
The CIN (Corporate Identification Number) of Cygnet Infotech is U72200GJ2000PTC038563. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Cygnet Infotech has 5 court cases on record: 5 filed by the company. 1 is pending. Most are in the high courts.
Cygnet Infotech was incorporated on 22 August 2000, making it 26+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Cygnet Infotech has 6 deals on record (6 secondary share transfers); the latest was in March 2022.
The peers of Cygnet Infotech by revenue are Mastercard Mobile Transactions Solutions Private Limited, STL Digital Limited, 63 Moons Technologies Limited, Bitonic Technology Labs Private Limited, Invensis Technologies Private Limited and 5 more, all in the same principal business activity (Computer programming, consultancy and related activities).