Explicit Finance Limited - financial services in Thane, Maharashtra, India. FY 2026 financials & compliance.
CIN L65990MH1994PLC076788 Incorporated 24 February 1994 ROC Mumbai HQ Thane, Maharashtra, India
Active Listed - BSE: 530571 Public Limited Company financial services
Market Cap
₹9.73 Cr
EXPLICITFIN · BSE
Share Price
₹11.02
+4.95% today
Revenue
₹3.27 Cr
FY 2025-26 · -51.7% YoY
Net Profit
−₹0.01 Cr
FY 2025-26 · 0.0% YoY
Authorised capital
₹10 Cr
Registered with MCA
Paid-up capital
₹9.27 Cr
Issued & subscribed
Company age
32 yrs
Est. 1994
Directors on board
7
As per MCA filings

About Explicit Finance Limited

Data last updated:

Explicit Finance Limited is a public limited company based in Thane, Maharashtra, India. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 24 February 1994 and has been in existence for over 32 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L65990MH1994PLC076788. Its GSTIN is 27AAACS5604B2ZT (Maharashtra). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 530571.

The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹9.27 Cr. It is led by directors including Rajesh S Nanda (Managing Director) and Avinash Bhargavram Mainkar.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 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. For the same year it recorded a net loss of ₹1 Lakh (net margin -0.3%). The net worth stands at ₹7.9 Cr (down 0.1% YoY). Total assets are valued at ₹7.9 Cr (up 0% YoY).

The company is associated with 1 brand: Explicit Finance. Court records list 2 cases involving the company, including 2 filed by the company; 2 cases are pending. The company has 12 deals on record (12 market trades); the latest was in November 2010. Its 6 peer companies in the BFSI industry (Finance, NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 3 smaller; the largest is Madhubani Investments Private Limited with revenue of ₹6.82 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 explicitfinance.net.

Company details

CIN L65990MH1994PLC076788
Registration Number 076788
Incorporation Date 24 February 1994
ROC Mumbai
Listing Status Listed - Listed on BSE (530571)
Company Status Active
Compliance Status Active Compliant

CIN history

Explicit Finance has one previous CIN (Corporate Identification Number): L65990MH1994PTC076788. The current CIN is L65990MH1994PLC076788, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L65990MH1994PLC076788Current
L65990MH1994PTC076788Previous

Contact details

Explicit Finance Limited's registered office is in Thane, Maharashtra. Its website is explicitfinance.net. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Registered Address
    305 Sohan Commercial Plaza Opp. Shivsena Office Vasai East, Thane, Maharashtra, India – 401210
  • Industry
    Financial Services, NBFC, Investment & Credit NBFC

To see the full contact details of Explicit Finance Limited, buy the company report.

Comprehensive company report
Explicit Finance Limited - one report that includes everything
  • 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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Brands

Explicit Finance operates one associated brand: Explicit Finance. Each brand links to its own profile.

BrandDescriptionWebsite
NBFC providing investments, securities trading, and finance services as a registered company.explicitfinance.net

Business activity

The main business activity of Explicit Finance is financial and insurance service. In detail, this covers other financial activities.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
KFinancial and insurance ServiceK8Other financial activities

To see the full business activity and turnover split of Explicit Finance Limited, buy the company report.

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 · Standalone
Revenue
₹3.27 Cr
-51.7% YoY
EBITDA
₹0.00 Cr
+100.0% YoY
Profit After Tax
−₹0.01 Cr
0.0% YoY
Net Worth
₹7.90 Cr
-0.1% YoY
Total Assets
₹7.90 Cr
0.0% YoY
Total Debt
Nil

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3.276.779.4022.8612.036.667.19
Revenue growth-51.7%-28.0%-58.9%+90.0%+80.6%-7.4%-
EBITDA0.00(0.02)0.020.02(0.53)(0.08)(0.05)
EBITDA margin0.0%-0.3%+0.2%+0.1%-4.4%-1.2%-0.7%
Profit before tax(0.01)(0.01)0.030.02(0.28)(0.04)(0.01)
Net profit(0.01)(0.01)0.030.02(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)0.020.01(0.30)(0.03)(0.02)
Balance sheet
Total assets7.907.907.917.897.898.517.77
Net worth7.907.917.917.907.898.167.78
Total debt0.000.000.000.000.000.000.00
Cash & bank0.261.881.191.590.710.370.04
Net working capital0.402.101.682.122.222.292.11
Cash flow
Cash from operations(1.61)0.69(0.40)0.890.33(0.52)(0.05)
Cash from investing(0.01)0.00(0.01)(0.01)0.010.850.03
Cash from financing0.000.000.000.000.000.000.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.460.670.890.820.892.361.231.77
Revenue growth (YoY)-48.3%-71.6%-27.6%-53.7%-37.3%---
Other income0.000.000.000.000.000.010.000.00
Total expenses0.390.810.740.920.792.401.141.73
EBITDA0.07(0.14)0.15(0.10)0.10(0.04)0.090.04
EBITDA margin+15.2%-20.9%+16.9%-12.2%+11.2%-1.7%+7.3%+2.3%
Depreciation0.000.000.000.000.000.000.000.00
Interest0.000.000.000.000.000.000.000.00
Profit before tax0.07(0.14)0.15(0.10)0.10(0.03)0.090.04
Tax0.000.000.000.000.000.000.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 12 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.460.670.890.820.892.361.231.77
Revenue growth (YoY)-48.3%-71.6%-27.6%-53.7%-37.3%---
Other income0.000.000.000.000.000.010.000.00
Total expenses0.390.810.740.920.792.401.141.73
EBITDA0.07(0.14)0.15(0.10)0.10(0.04)0.090.04
EBITDA margin+15.2%-20.9%+16.9%-12.2%+11.2%-1.7%+7.3%+2.3%
Depreciation0.000.000.000.000.000.000.000.00
Interest0.000.000.000.000.000.000.000.00
Profit before tax0.07(0.14)0.15(0.10)0.10(0.03)0.090.04
Tax0.000.000.000.000.000.000.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3.276.779.4022.8612.036.667.19
Revenue growth-51.7%-28.0%-58.9%+90.0%+80.6%-7.4%-
Other income0.000.020.010.010.250.040.04
Total expenses3.276.799.3822.8412.566.747.24
Employee cost0.180.140.140.140.160.210.11
EBITDA0.00(0.02)0.020.02(0.53)(0.08)(0.05)
EBITDA margin0.0%-0.3%+0.2%+0.1%-4.4%-1.2%-0.7%
Depreciation0.010.010.000.000.000.000.00
Interest0.000.000.000.010.000.000.00
Profit before tax(0.01)(0.01)0.030.02(0.28)(0.04)(0.01)
Tax0.000.000.000.000.000.000.00
Net profit(0.01)(0.01)0.030.02(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)0.020.01(0.30)(0.03)(0.02)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital9.279.279.279.279.279.279.27
Reserves & surplus(1.37)(1.36)(1.36)(1.37)(1.38)(1.11)(1.49)
Shareholders' funds (net worth)7.907.917.917.907.898.167.78
Secured loans0.000.000.000.000.000.000.00
Unsecured loans0.000.000.000.000.000.000.00
Total debt0.000.000.000.000.000.000.00
Total liabilities7.907.907.917.897.898.517.77
Assets
Gross block0.020.010.010.010.000.000.00
Net block0.010.010.010.010.000.000.00
Capital work in progress0.000.000.000.000.000.000.00
Investments0.000.000.000.000.000.000.44
Inventories0.150.190.450.521.491.891.69
Sundry debtors0.000.010.000.000.000.000.68
Cash & bank balances0.261.881.191.590.710.370.04
Loans & advances0.080.080.090.040.050.090.08
Total current assets0.492.161.732.152.252.352.49
Total current liabilities0.090.060.050.030.030.060.38
Net working capital0.402.101.682.122.222.292.11
Total assets7.907.907.917.897.898.517.77
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1.881.191.590.710.370.040.06
Net cash from operating activities(1.61)0.69(0.40)0.890.33(0.52)(0.05)
Net cash from investing activities(0.01)0.00(0.01)(0.01)0.010.850.03
Net cash from financing activities0.000.000.000.000.000.000.00
Net change in cash(1.63)0.70(0.40)0.880.340.33(0.02)
Closing cash0.261.881.191.590.710.370.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-51.7%-28.0%-58.9%+90.0%+80.6%-7.4%-
EBITDA growth+100.0%-200.0%0.0%+103.8%-562.5%-60.0%-
PBT growth0.0%-+50.0%+9998.0%-600.0%-300.0%+87.5%
Net income growth0.0%-133.3%+50.0%+107.1%-600.0%-300.0%-
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 employed0.0%0.0%+0.2%+0.2%0.0%0.0%0.0%
Return on net worth0.0%0.0%+0.2%+0.1%0.0%0.0%0.0%
Debt / equity0.000.000.000.000.000.000.00
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover0.000.000.0050.000.000.000.00
Efficiency & per share
Fixed asset turnover218.00679.00941.004,574.000.000.00131.45
Inventory turnover19.2421.2219.4022.767.273.743.71
Debtors turnover654.001,358.000.000.000.0019.7119.81
EPS (₹)(0.01)(0.01)0.020.01(0.30)(0.03)(0.02)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)8.528.538.538.528.518.818.39

To see the full year-wise statements and ratios of Explicit Finance Limited, buy the company report.

Board of directors of Explicit Finance Limited

Explicit Finance has 7 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Avinash Bhargavram MainkarDirector26 Nov 199431 Years 11 MonthsCurrent
Gopal Bhagwatilal DaveDirector14 Nov 20178 Years 11 MonthsCurrent
Narendrasinh Manubha ZalaDirector14 Aug 20251 Years 2 MonthsCurrent
Nirmal Singh RajuAdditional Director01 Jun 20242 Years 5 MonthsCurrent
Rajesh S NandaManaging Director14 Aug 20233 Years 2 MonthsCurrent
Hetal Amrutbhai BhanushaliDirector14 Aug 20233 Years 2 MonthsCurrent
Showing 6 of 7 current directors. View all directors

Peer comparison

Explicit Finance Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Finance, NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Madhubani Investments Private Limited₹6.82 Cr (FY 2024)-58.0%Hyderabad, Telangana, India
Dewdrops Mercantiles Pvt Ltd₹6.81 Cr (FY 2025)10.0%Kolkata, West Bengal, India
Zed Leafin Private Limited₹6.8 Cr (FY 2025)9.0%New Delhi, Delhi, India
Electrocast Sales India Ltd₹6.78 Cr (FY 2025)-6.0%Kolkata, West Bengal, India
Vinny Textiles Pvt Ltd₹6.76 Cr (FY 2025)195.0%Kolkata, West Bengal, India
Kishorilal Constructions Private Limited₹6.74 Cr (FY 2024)17.0%Chandigarh, India
Explicit Finance Limitedthis company₹3.27 Cr (FY 2026)-₹1 Lakh-0.3%-51.7%Thane, Maharashtra, India

To see the full peer comparison of Explicit Finance Limited, buy the company report.

Auditor

Explicit Finance Limited is audited by S C Mehra & Associates for the financial year 2019.

Auditor firmFinancial yearFirm registration number
S C Mehra & AssociatesFY 2019106156W

Shareholding

Shareholding for the quarter ended Mar 2026: promoters hold 12.10%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 87.90%.

Promoters: 12.10%Retail & Others: 87.90%
Mar 2026
QUARTER
12.10% Promoters
87.90% Retail & Others
Promoter holding - history
Now 12.10% · Mar 2026High 12.10% · Jun 2025Low 12.10% · Jun 2025
11%11.8%12.5%13.3%14%Jun 2025Sep 2025Dec 2025Mar 2026Jun 2025: 12.10%Sep 2025: 12.10%Dec 2025: 12.10%Mar 2026: 12.10%12.10%12.10%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025
Promoters12.10%12.10%12.10%12.10%
Public87.90%87.90%87.90%87.90%

Deals & funding

Explicit Finance Limited has 12 deals on record (12 market trades); the latest was in November 2010.

Total deals
12
Market trades
12

Deals on record (5 of 12)

WhenDealAmountParties
Nov 2010Market trade₹3.9 LakhSeller: D S G Securities Private Ltd
Sep 2010Market trade₹14 LakhBuyer: an individual
Seller: Swajay Finance Private Limited
Sep 2010Market trade₹24.3 LakhBuyer: Free India Assurance Services Limited , an individual
Seller: Swajay Finance Private Limited , an individual
Jul 2009Market trade₹3.2 LakhBuyer: Shyam Sourabh Baheti Huf, an individual
Seller: Yash Management and Satellite Limited
Feb 2009Market trade₹28.4 LakhBuyer: Yash Management and Satellite Limited
Seller: an individual

To see the full deal history of Explicit Finance Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Explicit Finance Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

GST

Explicit Finance has 2 GST registrations: 1 active and 1 cancelled or inactive.

Total GSTINs
2
Active
1
Cancelled / inactive
1
GSTINStateStatusRegistered on
27AAACS5604B2ZTMaharashtraActive03 Jan 2019

To see the full GST registrations and return filing status of Explicit Finance Limited, buy the company report.

Recent activity

Explicit Finance Limited has 24 board changes on record since 1994: 16 appointments and 8 cessations. The latest: Vandana Santosh Kalokhe was appointed as Additional Director on 16 Jun 2026.

Appointed
Vandana Santosh Kalokhe was appointed as Additional Director.
Filing
Explicit Finance Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai Ii.
Ceased
Pushparaj Vilas Mayekar ceased to be Director.
AGM
Explicit Finance Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Appointed
Narendrasinh Manubha Zala was appointed as Director.
Appointed
Neelam Bhanushali was appointed as Director.
Ceased
Jitendra Damjibhai Bhanushali ceased to be Director.
Appointed
Nirmal Singh Raju was appointed as Additional Director.
Appointed
Hetal Amrutbhai Bhanushali was appointed as Director.
Appointed
Rajesh S Nanda was appointed as Managing Director.
Ceased
Swati Gopal Dave ceased to be Managing Director.
Ceased
Jayesh Pyarelal Jain ceased to be Director.

15 earlier events are in the company report.

Frequently asked questions

Explicit Finance is an active public limited company based in Thane, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 24 February 1994 (32+ years old) and is registered under CIN L65990MH1994PLC076788. Listed on BSE: 530571.

Explicit Finance reported revenue of ₹3.27 Cr for FY 2025-26 (down 51.7% YoY) based on standalone financials.

Explicit Finance has 7 current directors:

The latest financial statements of Explicit Finance on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Explicit Finance is 27AAACS5604B2ZT, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.

The CIN (Corporate Identification Number) of Explicit Finance is L65990MH1994PLC076788. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Explicit Finance is a listed company as per MCA records. Its shares are listed on BSE (code: 530571).

Explicit Finance has 2 court cases on record: 2 filed by the company. 2 are pending.

Explicit Finance was incorporated on 24 February 1994, making it 32+ years old. It is registered with the Registrar of Companies, Mumbai.

Explicit Finance has 12 deals on record (12 market trades); the latest was in November 2010.

The peers of Explicit Finance by revenue are Madhubani Investments Private Limited, Dewdrops Mercantiles Pvt Ltd, Zed Leafin Private Limited, Electrocast Sales India Ltd, Vinny Textiles Pvt Ltd and 1 more, all in the BFSI industry (Finance, NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).