About Explicit Finance Limited
Data last updated: 28 September 2026
Explicit Finance Limited is a public limited company based in Thane, Maharashtra, India. It specialises in non-banking financial services (NBFC), a part of the broader financial services sector. Incorporated on 24 February 1994, the company has been in operation for over 32 years.
Registered with ROC Mumbai under CIN L65990MH1994PLC076788. Listed on BSE: 530571.
Capital: an authorised share capital of ₹10 Cr and a paid-up capital of ₹9.27 Cr. It is led by directors including Avinash Bhargavram Mainkar and Gopal Bhagwatilal Dave.
Last AGM: 30 September 2025. Financial statements filed for year ended 31 March 2025. Office: 305 Sohan Commercial Plaza Opp. Shivsena Office Vasai East, Thane, Maharashtra, India – 401210.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹3.27 Cr, a decline of 51.7% compared to the previous year. The net worth stands at ₹7.9 Cr (down 0.13% YoY). Total assets are valued at ₹7.9 Cr (up 0% YoY).
The company is associated with 1 brand - Explicit Finance.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website explicitfinance.net.
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Registered Address305 Sohan Commercial Plaza Opp. Shivsena Office Vasai East, Thane, Maharashtra, India – 401210
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IndustryFinancial Services, NBFC, Investment & Credit NBFC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Explicit Finance Limited
Explicit Finance Limited has one previous CIN (Corporate Identification Number): L65990MH1994PTC076788. The current CIN is L65990MH1994PLC076788, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L65990MH1994PLC076788 | Current |
| L65990MH1994PTC076788 | Previous |
Associated Brands with Explicit Finance Limited
Explicit Finance Limited operates one associated brand: Explicit Finance. These brands represent Explicit Finance Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| NBFC providing investments, securities trading, and finance services as a registered company. | explicitfinance.net |
Competitors & Alternatives of Explicit Finance Limited
Brands and companies operating in the same space as Explicit Finance Limited include Fidelity Investments, UTI Mutual Fund, Goldman Sachs and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Fidelity Investments
|
Provider of brokerage accounts, retirement planning, wealth management, and trading platforms | Boston, United States, United States | 1946 |
UTI Mutual Fund
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Mutual funds, portfolio management, and retirement planning services are offered. | Mumbai, India, India | 2001 |
Goldman Sachs
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Investment banking services are delivered across multiple financial sectors. | New York, United States, United States | 1869 |
S&P Global
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Platform offering business intelligence solutions that combine data and actionable analytics for clients | New York, United States, United States | 1917 |
Sundaram Finance
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Provider of consumer & SME loans and equipment & vehicle leasing services | Chennai, India, India | 1954 |
Bank of America
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Commercial banking and asset management services are offered worldwide. | Charlotte, United States, United States | 1904 |
State Street
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Financial services are provided to asset managers worldwide. | Boston, United States, United States | - |
FIS
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Software suites for banks and financial institutions are provided. | Jacksonville, United States, United States | 1968 |
Avendus
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Corporate advisory and investment services are provided to clients. | Mumbai, India, India | 1999 |
360 One
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Asset and wealth management software is provided for businesses. | Mumbai, India, India | 2008 |
Business Activity of Explicit Finance Limited
Explicit Finance Limited is engaged in the principal business activity of financial and insurance service, with detailed activities including other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details for Explicit Finance Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Explicit Finance Limited
Explicit Finance Limited is audited by S C Mehra & Associates for the financial year 2019. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S C Mehra & Associates | Locked | Locked | Locked |
Complete auditor history for Explicit Finance Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
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Board of Directors of Explicit Finance Limited
Explicit Finance Limited is currently managed by 7 directors, with 10 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Avinash Bhargavram Mainkar
Also directs:
Explicit Finance Limited, Trunadhanya Trading Private Limited
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Director | 26 Nov 1994 | 31 Years 10 Months | Current |
| Gopal Bhagwatilal Dave | Director | 14 Nov 2017 | 8 Years 10 Months | Current |
| Narendrasinh Manubha Zala | Director | 14 Aug 2025 | 1 Years 1 Months | Current |
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Nirmal Singh Raju
Also directs:
Explicit Finance Limited
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Additional Director | 01 Jun 2024 | 2 Years 3 Months | Current |
| Rajesh S Nanda | Managing Director | 14 Aug 2023 | 3 Years 1 Months | Current |
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Hetal Amrutbhai Bhanushali
Also directs:
Explicit Finance Limited
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Director | 14 Aug 2023 | 3 Years 1 Months | Current |
Financials of Explicit Finance Limited FY 2025-26 filings available
Explicit Finance Limited reported revenue of ₹3.27 Cr (down 51.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3.27 | 6.77 | 9.40 | 22.86 | 12.03 | 6.66 | 7.19 |
| Revenue growth | -51.8% | -27.6% | -58.9% | +81.9% | +86.4% | -6.9% | +53.1% |
| EBITDA | 0.00 | (0.02) | 0.02 | 0.02 | (0.53) | (0.08) | (0.05) |
| EBITDA margin | 0.0% | -0.3% | +0.2% | +0.1% | -4.4% | -1.2% | -0.7% |
| Profit before tax | (0.01) | (0.01) | 0.03 | 0.02 | (0.28) | (0.04) | (0.01) |
| Net profit | (0.01) | (0.01) | 0.03 | 0.02 | (0.28) | (0.04) | (0.01) |
| Net profit margin | -0.3% | -0.2% | +0.3% | +0.1% | -2.3% | -0.6% | -0.1% |
| EPS (₹) | (0.01) | (0.01) | 0.02 | 0.01 | (0.30) | (0.03) | (0.02) |
| Balance sheet | |||||||
| Total assets | 7.90 | 7.90 | 7.91 | 7.89 | 7.89 | 8.51 | 7.77 |
| Net worth | 7.90 | 7.91 | 7.91 | 7.90 | 7.89 | 8.16 | 7.78 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 0.26 | 1.88 | 1.19 | 1.59 | 0.71 | 0.37 | 0.04 |
| Net working capital | 0.40 | 2.10 | 1.68 | 2.12 | 2.22 | 2.29 | 2.11 |
| Cash flow | |||||||
| Cash from operations | (1.61) | 0.69 | (0.40) | 0.89 | 0.33 | (0.52) | (0.05) |
| Cash from investing | (0.01) | 0.00 | (0.01) | (0.01) | 0.01 | 0.85 | 0.03 |
| Cash from financing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.46 | 0.67 | 0.89 | 0.82 | 0.89 | 2.36 | 1.23 | 1.77 |
| Revenue growth (YoY) | -48.3% | -71.6% | -27.6% | -53.4% | -37.3% | -19.2% | -63.6% | -34.6% |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Total expenses | 0.39 | 0.81 | 0.74 | 0.92 | 0.79 | 2.40 | 1.14 | 1.73 |
| EBITDA | 0.07 | (0.14) | 0.15 | (0.10) | 0.10 | (0.04) | 0.09 | 0.04 |
| EBITDA margin | +15.2% | -20.9% | +16.9% | -12.2% | +11.2% | -1.7% | +7.3% | +2.3% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.07 | (0.14) | 0.15 | (0.10) | 0.10 | (0.03) | 0.09 | 0.04 |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.46 | 0.67 | 0.89 | 0.82 | 0.89 | 2.36 | 1.23 | 1.77 |
| Revenue growth (YoY) | -48.3% | -71.6% | -27.6% | -53.4% | -37.3% | -19.2% | -63.6% | -34.6% |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Total expenses | 0.39 | 0.81 | 0.74 | 0.92 | 0.79 | 2.40 | 1.14 | 1.73 |
| EBITDA | 0.07 | (0.14) | 0.15 | (0.10) | 0.10 | (0.04) | 0.09 | 0.04 |
| EBITDA margin | +15.2% | -20.9% | +16.9% | -12.2% | +11.2% | -1.7% | +7.3% | +2.3% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.07 | (0.14) | 0.15 | (0.10) | 0.10 | (0.03) | 0.09 | 0.04 |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3.27 | 6.77 | 9.40 | 22.86 | 12.03 | 6.66 | 7.19 |
| Revenue growth | -51.8% | -27.6% | -58.9% | +81.9% | +86.4% | -6.9% | +53.1% |
| Other income | 0.00 | 0.02 | 0.01 | 0.01 | 0.25 | 0.04 | 0.04 |
| Total expenses | 3.27 | 6.79 | 9.38 | 22.84 | 12.56 | 6.74 | 7.24 |
| Employee cost | 0.18 | 0.14 | 0.14 | 0.14 | 0.16 | 0.21 | 0.11 |
| EBITDA | 0.00 | (0.02) | 0.02 | 0.02 | (0.53) | (0.08) | (0.05) |
| EBITDA margin | 0.0% | -0.3% | +0.2% | +0.1% | -4.4% | -1.2% | -0.7% |
| Depreciation | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Profit before tax | (0.01) | (0.01) | 0.03 | 0.02 | (0.28) | (0.04) | (0.01) |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net profit | (0.01) | (0.01) | 0.03 | 0.02 | (0.28) | (0.04) | (0.01) |
| Net profit margin | -0.3% | -0.2% | +0.3% | +0.1% | -2.3% | -0.6% | -0.1% |
| EPS (₹) | (0.01) | (0.01) | 0.02 | 0.01 | (0.30) | (0.03) | (0.02) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 9.27 | 9.27 | 9.27 | 9.27 | 9.27 | 9.27 | 9.27 |
| Reserves & surplus | (1.37) | (1.36) | (1.36) | (1.37) | (1.38) | (1.11) | (1.49) |
| Shareholders' funds (net worth) | 7.90 | 7.91 | 7.91 | 7.90 | 7.89 | 8.16 | 7.78 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 7.90 | 7.90 | 7.91 | 7.89 | 7.89 | 8.51 | 7.77 |
| Assets | |||||||
| Gross block | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Net block | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.44 |
| Inventories | 0.15 | 0.19 | 0.45 | 0.52 | 1.49 | 1.89 | 1.69 |
| Sundry debtors | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.68 |
| Cash & bank balances | 0.26 | 1.88 | 1.19 | 1.59 | 0.71 | 0.37 | 0.04 |
| Loans & advances | 0.08 | 0.08 | 0.09 | 0.04 | 0.05 | 0.09 | 0.08 |
| Total current assets | 0.49 | 2.16 | 1.73 | 2.15 | 2.25 | 2.35 | 2.49 |
| Total current liabilities | 0.09 | 0.06 | 0.05 | 0.03 | 0.03 | 0.06 | 0.38 |
| Net working capital | 0.40 | 2.10 | 1.68 | 2.12 | 2.22 | 2.29 | 2.11 |
| Total assets | 7.90 | 7.90 | 7.91 | 7.89 | 7.89 | 8.51 | 7.77 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.88 | 1.19 | 1.59 | 0.71 | 0.37 | 0.04 | 0.06 |
| Net cash from operating activities | (1.61) | 0.69 | (0.40) | 0.89 | 0.33 | (0.52) | (0.05) |
| Net cash from investing activities | (0.01) | 0.00 | (0.01) | (0.01) | 0.01 | 0.85 | 0.03 |
| Net cash from financing activities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net change in cash | (1.63) | 0.70 | (0.40) | 0.88 | 0.34 | 0.33 | (0.02) |
| Closing cash | 0.26 | 1.88 | 1.19 | 1.59 | 0.71 | 0.37 | 0.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -51.7% | -28.0% | -58.9% | +90.0% | +80.6% | -7.4% | +58.0% |
| EBITDA growth | +9997.0% | - | 0.0% | +9998.0% | -562.5% | -60.0% | +72.2% |
| PBT growth | 0.0% | - | +50.0% | +9998.0% | -600.0% | -300.0% | +87.5% |
| Net income growth | 0.0% | - | +50.0% | +9998.0% | -600.0% | -300.0% | +87.5% |
| Revenue CAGR (3Y) | -47.7% | -17.4% | +12.2% | +47.0% | +38.3% | -18.3% | +9.0% |
| EBITDA CAGR (3Y) | -100.0% | -66.5% | - | - | +43.3% | -18.9% | 0.0% |
| Profitability & leverage | |||||||
| Net income margin | -0.3% | -0.2% | +0.3% | +0.1% | -2.3% | -0.6% | -0.1% |
| Return on capital employed | 0.0% | 0.0% | +0.2% | +0.2% | 0.0% | 0.0% | 0.0% |
| Return on net worth | 0.0% | 0.0% | +0.2% | +0.1% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 0.00 | 0.00 | 0.00 | 50.00 | 0.00 | 0.00 | 0.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 218.00 | 679.00 | 941.00 | 4,574.00 | 0.00 | 0.00 | 131.45 |
| Inventory turnover | 19.24 | 21.22 | 19.40 | 22.76 | 7.27 | 3.74 | 3.71 |
| Debtors turnover | 654.00 | 1,358.00 | 0.00 | 0.00 | 0.00 | 19.71 | 19.81 |
| EPS (₹) | (0.01) | (0.01) | 0.02 | 0.01 | (0.30) | (0.03) | (0.02) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 8.52 | 8.53 | 8.53 | 8.52 | 8.51 | 8.81 | 8.39 |
Shareholding Pattern of Explicit Finance Limited
As per the shareholding pattern for the quarter ended Mar 2026, promoters hold 12.10%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00%, retail and other public shareholders hold 87.90% of Explicit Finance Limited.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|
| Promoters | 12.10% | 12.10% | 12.10% | 12.10% |
| Public | 87.90% | 87.90% | 87.90% | 87.90% |
Charges & Borrowings Explicit Finance Limited
Explicit Finance Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Explicit Finance Limited
View historical data on people associated with Explicit Finance Limited, including employment history and EPFO contributions.
Employee and EPFO history for Explicit Finance Limited
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GST Compliance of Explicit Finance Limited
GST registrations and filing compliance for Explicit Finance Limited
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Credit Ratings, Litigation & Regulatory Alerts for Explicit Finance Limited
Credit ratings, litigation, and regulatory alerts for Explicit Finance Limited
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MSME Payment Delays by Explicit Finance Limited
MSME payment history for Explicit Finance Limited
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Subsidiaries & Group Companies of Explicit Finance Limited
Corporate group structure for Explicit Finance Limited
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MCA Filings & Documents of Explicit Finance Limited
MCA filings and documents for Explicit Finance Limited
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Recent Activity on Explicit Finance Limited
Frequently Asked Questions about Explicit Finance Limited
Explicit Finance Limited is an active public limited company in the financial services sector based in Thane, Maharashtra, India. It was incorporated on 24 February 1994 (32+ years old) and is registered under CIN L65990MH1994PLC076788. Listed on BSE: 530571.
Explicit Finance Limited reported revenue of ₹3.27 Cr for FY 2025-26 (down 51.7% YoY) based on standalone financials.
The current directors of Explicit Finance Limited are:
- Avinash Bhargavram Mainkar - Director
- Gopal Bhagwatilal Dave - Director
- Narendrasinh Manubha Zala - Director
- Nirmal Singh Raju - Additional Director
- Rajesh S Nanda - Managing Director
- Hetal Amrutbhai Bhanushali - Director
- Vandana Santosh Kalokhe - Additional Director
The primary industry of Explicit Finance Limited is financial services. The company specifically operates in nbfc. The company is currently active in this sector.
Yes. Explicit Finance Limited is listed on BSE with code 530571.
Explicit Finance Limited can be reached at the registered office: 305 Sohan Commercial Plaza Opp. Shivsena Office Vasai East, Thane, Maharashtra, India – 401210, or through the website explicitfinance.net.