About Explicit Finance Limited
Data last updated: 15 July 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 BSE-filed standalone financials for FY 2024, the company reported a revenue of ₹9.4 Cr, a decline of 58.89% compared to the previous year. The net worth stands at ₹7.91 Cr (up 0.19% YoY). Total assets are valued at ₹7.96 Cr (up 0.42% 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
|
Mutual funds, portfolio management, and retirement planning services are offered. | Mumbai, India, India | 2001 |
Goldman Sachs
|
Investment banking services are delivered across multiple financial sectors. | New York, United States, United States | 1869 |
S&P Global
|
Platform offering business intelligence solutions that combine data and actionable analytics for clients | New York, United States, United States | 1917 |
Sundaram Finance
|
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
- Cessation dates
- Auditor changes
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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
|
Director | 26 Nov 1994 | 31 Years 8 Months | Current |
| Gopal Bhagwatilal Dave | Director | 14 Nov 2017 | 8 Years 9 Months | Current |
| Narendrasinh Manubha Zala | Director | 14 Aug 2025 | 1 Years 0 Months | Current |
|
Nirmal Singh Raju
Also directs:
Explicit Finance Limited
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Additional Director | 01 Jun 2024 | 2 Years 2 Months | Current |
| Rajesh S Nanda | Managing Director | 14 Aug 2023 | 3 Years 0 Months | Current |
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Hetal Amrutbhai Bhanushali
Also directs:
Explicit Finance Limited
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Director | 14 Aug 2023 | 3 Years 0 Months | Current |
Financials of Explicit Finance Limited FY 2024 filings available
Explicit Finance Limited reported revenue of ₹9.4 Cr (down 58.89% YoY) for FY 2024.
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Revenue from Operations | ₹9.4 Cr | ₹22.86 Cr | ₹12.03 Cr | ₹6.66 Cr | ₹7.19 Cr |
| Interest Earned | ₹63.83 Lakh | ₹54.56 Lakh | ₹44.35 Lakh | ₹42.07 Lakh | ₹38.15 Lakh |
| Other Income | ₹51,000 | ₹63,000 | ₹24.59 Lakh | ₹3.71 Lakh | ₹3.9 Lakh |
| Total Income | ₹9.4 Cr | ₹22.87 Cr | ₹12.28 Cr | ₹6.7 Cr | ₹7.23 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹8.58 Cr | ₹21.47 Cr | ₹9.95 Cr | ₹6.11 Cr | ₹6.52 Cr |
| Changes in Inventories | ₹7.76 Lakh | ₹97 Lakh | ₹39.07 Lakh | -₹19.25 Lakh | ₹52.07 Lakh |
| Employee Benefit Expense | ₹14.17 Lakh | ₹14.37 Lakh | ₹15.85 Lakh | ₹21.09 Lakh | ₹11.3 Lakh |
| Finance Costs | ₹0 | ₹83,000 | ₹0 | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹40,000 | ₹33,000 | ₹10,000 | ₹7,000 | ₹0 |
| Other Expenses | ₹57.62 Lakh | ₹25.96 Lakh | ₹2.05 Cr | ₹60.63 Lakh | ₹9.27 Lakh |
| Total Expenses | ₹9.38 Cr | ₹22.86 Cr | ₹12.55 Cr | ₹6.73 Cr | ₹7.25 Cr |
| Profit Before Exceptional Items & Tax | ₹1.82 Lakh | ₹83,000 | -₹27.43 Lakh | -₹2.94 Lakh | -₹1.78 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹1.82 Lakh | ₹83,000 | -₹27.43 Lakh | -₹2.94 Lakh | -₹1.78 Lakh |
| Total Tax Expense | ₹30,000 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Profit | ₹1.52 Lakh | ₹83,000 | -₹27.43 Lakh | -₹2.94 Lakh | -₹1.78 Lakh |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | -₹41.57 Lakh |
| Total Comprehensive Income | ₹1.52 Lakh | ₹83,000 | -₹27.43 Lakh | -₹2.94 Lakh | -₹43.35 Lakh |
| EBITDA (computed) | ₹2.22 Lakh | ₹1.99 Lakh | -₹27.33 Lakh | -₹2.87 Lakh | -₹1.78 Lakh |
| Basic EPS | ₹0.02 | ₹0.01 | ₹-0.30 | ₹-0.17 | ₹-0.47 |
| Diluted EPS | ₹-0.02 | ₹0.01 | ₹-0.30 | ₹-0.17 | ₹-0.47 |
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Total Assets | ₹7.96 Cr | ₹7.92 Cr | ₹7.91 Cr | ₹8.57 Cr | ₹8.15 Cr |
| Property, Plant & Equipment | ₹1.07 Lakh | ₹75,000 | ₹30,000 | ₹39,000 | ₹0 |
| Inventories | ₹44.71 Lakh | ₹52.46 Lakh | ₹1.49 Cr | ₹1.89 Cr | ₹1.69 Cr |
| Cash & Equivalents | ₹57.67 Lakh | ₹1.09 Cr | ₹71.23 Lakh | ₹37.05 Lakh | ₹4.02 Lakh |
| Equity (Net Worth) | ₹7.91 Cr | ₹7.89 Cr | ₹7.89 Cr | ₹8.14 Cr | ₹7.77 Cr |
| Equity Share Capital | ₹9.27 Cr | ₹9.27 Cr | ₹9.27 Cr | ₹9.27 Cr | ₹9.27 Cr |
| Total Liabilities | ₹4.63 Lakh | ₹2.8 Lakh | ₹2.86 Lakh | ₹42.64 Lakh | ₹37.49 Lakh |
| Metrics | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Cash Flow | ₹11.03 Lakh | ₹88.69 Lakh | ₹34.18 Lakh |
| Investing Cash Flow | -₹1.13 Cr | -₹78,000 | ₹0 |
| Financing Cash Flow | ₹0 | ₹0 | ₹0 |
| Capital Expenditure | ₹72,000 | ₹78,000 | ₹0 |
| Free Cash Flow (computed) | ₹10.31 Lakh | ₹87.91 Lakh | ₹34.18 Lakh |
| Dividends Paid | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | -₹1.01 Cr | ₹1.59 Cr | ₹34.18 Lakh |
| Metrics | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|
| Revenue from Operations | ₹1.23 Cr | ₹1.77 Cr | ₹1.42 Cr |
| Interest Earned | ₹20.18 Lakh | ₹18.08 Lakh | ₹16.91 Lakh |
| Other Income | ₹0 | ₹0 | ₹0 |
| Total Income | ₹1.23 Cr | ₹1.77 Cr | ₹1.42 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹1.17 Cr | ₹1.6 Cr | ₹1.27 Cr |
| Changes in Inventories | -₹7.61 Lakh | ₹6.36 Lakh | ₹15.09 Lakh |
| Employee Benefit Expense | ₹3.53 Lakh | ₹3.64 Lakh | ₹3.51 Lakh |
| Finance Costs | ₹0 | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹10,000 | ₹10,000 | ₹10,000 |
| Other Expenses | ₹1.12 Lakh | ₹3.16 Lakh | ₹5.67 Lakh |
| Total Expenses | ₹1.15 Cr | ₹1.73 Cr | ₹1.52 Cr |
| Profit Before Exceptional Items & Tax | ₹8.31 Lakh | ₹3.67 Lakh | -₹9.51 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹8.31 Lakh | ₹3.67 Lakh | -₹9.51 Lakh |
| Total Tax Expense | ₹0 | ₹0 | ₹0 |
| Net Profit | ₹8.31 Lakh | ₹3.67 Lakh | -₹9.51 Lakh |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹8.31 Lakh | ₹3.67 Lakh | -₹9.51 Lakh |
| EBITDA (computed) | ₹8.41 Lakh | ₹3.77 Lakh | -₹9.41 Lakh |
| Basic EPS | ₹0.09 | ₹0.04 | ₹-0.10 |
| Diluted EPS | ₹0.09 | ₹0.04 | ₹-0.10 |
Shareholding Pattern of Explicit Finance Limited
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, promoters hold 12.09%, retail and other public shareholders hold 87.91% of Explicit Finance Limited. The company had 2,534 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 12.09% | 12.09% | 12.09% | 12.09% | 12.09% | 12.09% |
| Public | 87.91% | 87.91% | 87.91% | 87.91% | 87.91% | 87.91% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | 12.09% | 12.09% | 12.09% |
| Public | 87.91% | 87.91% | 87.91% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | - |
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
Monthly headcount, contribution history, establishment records, and filing compliance require an active report plan.
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GST Compliance of Explicit Finance Limited
GST registrations and filing compliance for Explicit Finance Limited
State-wise registrations, return filing status, HSN and SAC details, and jurisdiction records require an active report plan.
- GSTIN registrations
- State-wise filing status
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Credit Ratings, Litigation & Regulatory Alerts for Explicit Finance Limited
Credit ratings, litigation, and regulatory alerts for Explicit Finance Limited
Agency ratings, court records, regulatory events, and entity-specific compliance alerts require an active report plan.
- Rating history
- Court and tribunal cases
- Regulatory alerts
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MSME Payment Delays by Explicit Finance Limited
MSME payment history for Explicit Finance Limited
Amounts outstanding to micro and small suppliers, delay reasons, and MSME-1 filing history require an active report plan.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
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Subsidiaries & Group Companies of Explicit Finance Limited
Corporate group structure for Explicit Finance Limited
Parent, subsidiary, associate, joint venture, and ownership records require an active report plan.
- Parent company
- Subsidiaries and ownership
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MCA Filings & Documents of Explicit Finance Limited
MCA filings and documents for Explicit Finance Limited
Official forms, annual returns, financial statements, charge filings, and document dates require an active report plan.
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- Annual returns and statements
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- Complete filing index
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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 ₹9.4 Cr for FY 2024 (down 58.89% YoY) based on standalone BSE filings.
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.