About Evolve Technologies & Services Private Limited
Data last updated:
Evolve Technologies & Services Private Limited was a private limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Teamlease Digital Private Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the telecom service providers segment of the telecommunications sector. It was incorporated on 25 July 1991.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U50404MH1991PTC310808. Its GSTIN is 27AAACT6215B1ZS (Maharashtra). The company held 2 GST registrations, of which 1 is active.
The company had an authorised share capital of ₹4 Cr and a paid-up capital of ₹3.52 Cr. It was formerly known as Tandon Auto Udyog Pvt Ltd. It was led by directors including Alaka Chanda and Rituparna Chakraborty.
Its last annual general meeting (AGM) was held on 25 August 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office was at Mumbai, Maharashtra.
As per the financials filed for FY 2021, the company reported a revenue of ₹140.54 Cr, a decline of 19% compared to the previous year. For the same year it recorded a net profit of ₹1.7 Cr (net margin 1.2%) and EBITDA of ₹3.65 Cr (EBITDA margin 2.6%). Revenue has declined at a compounded annual rate (CAGR) of 5% over three years.
The company had about 582 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Istana189. As per MCA filings, the company had satisfied charges of ₹46.11 Cr on record. Court records list 15 cases involving the company, including 6 filed by the company and 9 filed against it; 2 cases are pending. The company has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹3.2 Cr; the latest was in October 2017.
The last known website on record is evolve-india.com.
Company details
CIN history
Evolve Technologies & Services has one previous CIN (Corporate Identification Number): U50404PN1991PTC062664. The current CIN is U50404MH1991PTC310808, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U50404MH1991PTC310808 | Current |
| U50404PN1991PTC062664 | Previous |
Contact details
Evolve Technologies & Services Private Limited's registered office is in Mumbai, Maharashtra. Its website is evolve-india.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressOffice No 6 3rd Floor C Wing Laxmi Towers Bandra Kurla Complex Bandra, (E), Mumbai, Maharashtra, India – 400051
- IndustryTelecom, Telecom Service Providers
To see the full contact details of Evolve Technologies & Services Private Limited, buy the company report.
- 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
Brands
Evolve Technologies & Services operates one associated brand: Istana189. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Engineering and installation services are provided to telecom infrastructure. | evolve-india.com |
Business activity
The main business activity of Evolve Technologies & Services is support service to organizations. In detail, this covers placement agencies and hr management services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N2 | Placement agencies and HR management services |
To see the full business activity and turnover split of Evolve Technologies & Services Private Limited, buy the company report.
Financials of Evolve Technologies & Services Private Limited
FY 2021 filings availableEvolve Technologies & Services Private Limited reported revenue of ₹140.54 Cr (down 19% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 5% over three years, including a 19% fall in the latest year. EBITDA fell 41% 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 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹140.54 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹3.65 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.7 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 2.6% | ||||
| Net Profit Margin | 1.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Evolve Technologies & Services Private Limited, buy the company report.
Board of directors of Evolve Technologies & Services Private Limited
Evolve Technologies & Services has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Alaka Chanda Also directs: Teamlease Hrtech Private Limited, Teamlease Digital Private Limited, TSR Darashaw HR Services Private Limited and 2 more | Director | 23 Mar 2021 | 5 Years 7 Months | As last reported |
| Rituparna Chakraborty | Director | 23 Mar 2021 | 5 Years 7 Months | As last reported |
| Ramani Dathi Also directs: Teamlease Hrtech Private Limited, Teamlease Digital Private Limited, TSR Darashaw HR Services Private Limited and 5 more | Director | 21 Jan 2019 | 7 Years 9 Months | As last reported |
Auditor
Evolve Technologies & Services Private Limited is audited by BAHETI & SOMANI LLP for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BAHETI & SOMANI LLP | FY 2020 | 124298W |
Shareholding
The shareholding of Evolve Technologies & Services Private Limited is on record for 4 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Evolve Technologies & Services Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2016 | 10621663 | Dbs Bank Ltd | ₹1 Cr | Satisfied | |
| 28 Jan 2015 | 10546728 | Hdfc Bank Limited | ₹21.5 Cr | Satisfied | |
| 01 Nov 2014 | 10533069 | Hdfc Bank Limited | ₹19 Cr | Satisfied | |
| 29 Mar 2010 | 10218578 | Oriental Bank of Commerce | ₹4.5 Cr | Satisfied | |
| 06 Jan 1995 | 90090075 | State Bank of India | ₹10.7 Lakh | Satisfied |
To see the full charge records of Evolve Technologies & Services Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Evolve Technologies & Services Private Limited has 8 deals on record (5 secondary share transfers, 3 funding rounds), with disclosed funding of ₹3.2 Cr; the latest was in October 2017.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2017 | Secondary share transfer | Undisclosed | Buyer: Teamlease Digital Private Limited Seller: 4 individuals |
| Jul 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2012 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Jan 2011 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Sep 2010 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
To see the full deal history of Evolve Technologies & Services 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
Evolve Technologies & Services Private Limited has 15 court cases on record: 6 filed by Evolve Technologies & Services, 9 filed against it. 2 cases are pending and 13 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 10 | 7 | 2 |
| High courts | 2 | 2 | 0 |
| Supreme Court | 2 | 0 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Execution petition | Filed against the company by Unicorn Denmart Limited | Pending |
| High Court, UTTARPRADESH | Court case (ARCO) | Filed against the company by Nardev Technology Pvt Ltd | Disposed |
| District court, Pune, Maharashtra | Execution petition | Filed against the company by Unicorn Denmart Limited | Disposed |
| District court, Central, Delhi | Execution petition | Filed against the company by Unicorn Denmart Limited | Disposed |
| Supreme Court | Court case (1802-Ordinary Civil Matters : T.P. Under Section 25 of the C.P.C.) | Filed by the company against Unicorn Denmart Limited Through Its Dirctor Registered Office at 3, LSC, MCR Land Near J Block, New Rajinder Nagar, ,New Delhi , Delhi | Disposed |
To see the full case history of Evolve Technologies & Services 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Evolve Technologies & Services Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Evolve Technologies & Services Private Limited has a workforce of 582 employees on its EPFO records as of Mar 23, 2024, across 1 active EPFO establishment.
GST
Evolve Technologies & Services has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACT6215B1ZS | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Evolve Technologies & Services Private Limited, buy the company report.
Recent activity
Evolve Technologies & Services Private Limited has 14 board changes on record since 2010: 3 appointments and 11 cessations. The latest: Alaka Chanda ceased to be Additional Director on 25 Aug 2021.
19 earlier events are in the company report.
Frequently asked questions
Evolve Technologies & Services has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Evolve Technologies & Services was a private limited company based in Mumbai, Maharashtra, India. The company worked in telecom service providers, within the telecom industry. It was incorporated on 25 July 1991 and is registered under CIN U50404MH1991PTC310808. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Evolve Technologies & Services was incorporated on 25 July 1991. It is registered with the Registrar of Companies, Mumbai.
Evolve Technologies & Services had 3 directors:
- Alaka Chanda - Director
- Rituparna Chakraborty - Director
- Ramani Dathi - Director
The CIN (Corporate Identification Number) of Evolve Technologies & Services is U50404MH1991PTC310808. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Evolve Technologies & Services is at Office No 6 3rd Floor C Wing Laxmi Towers Bandra Kurla Complex Bandra, E, Mumbai, Maharashtra, India – 400051.
Evolve Technologies & Services can be reached through the website evolve-india.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Evolve Technologies & Services on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 25 August 2021. Year-wise statements from 2015 are in the company report.
The GSTIN of Evolve Technologies & Services is 27AAACT6215B1ZS, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
Evolve Technologies & Services operated in the telecom industry, in the telecom service providers segment.