About Explicit Finance Limited
Data last updated: 17 December 2025
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 Hetal Amrutbhai Bhanushali.
Last AGM: 30 September 2024. Financial statements filed for year ended 31 March 2024. Office: 305 Sohan Commercial Plaza Opp. Shivsena Office Vasai East, Thane, Maharashtra, India – 401210.
As per the financials filed for FY 2025, the company reported a revenue of ₹6.79 Cr, a decline of 28% compared to the previous year.
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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Email*****@*****.com
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Telephone+91-****-******
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Website
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Social Media**************
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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
|
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 | ********* |
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 | blur-value | blur-value | blur-value |
Board of Directors of Explicit Finance Limited
Explicit Finance Limited is currently managed by 9 directors, with 15 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 7 Months | Current |
|
Hetal Amrutbhai Bhanushali
Also directs:
Explicit Finance Limited
|
Director | 14 Aug 2023 | 2 Years 10 Months | Current |
| Narendrasinh Manubha Zala | Director | 14 Aug 2025 | 0 Years 10 Months | Current |
| Neelam Kuldip Singh Negi | Director | 14 Aug 2025 | 0 Years 10 Months | Current |
|
Nirmal Singh Raju
Also directs:
Explicit Finance Limited
|
Additional Director | 01 Jun 2024 | 2 Years 1 Months | Current |
| Gopal Bhagwatilal Dave | Director | 14 Nov 2017 | 8 Years 7 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. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| 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 Count & EPFO Data of Explicit Finance Limited
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GST Compliance of Explicit Finance Limited
GSTIN & GST Filing Data of Explicit Finance Limited
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Credit Ratings, Litigation & Regulatory Alerts for Explicit Finance Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Explicit Finance Limited
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MSME Payment Delays by Explicit Finance Limited
MSME Payment Delays by Explicit Finance Limited
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Subsidiaries & Group Companies of Explicit Finance Limited
Subsidiaries & Group Companies of Explicit Finance Limited
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MCA Filings & Documents of Explicit Finance Limited
MCA Filings & Documents of 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 ₹6.79 Cr for FY 2025 (down 28.00% YoY).
The current directors of Explicit Finance Limited are:
- Avinash Bhargavram Mainkar
- Hetal Amrutbhai Bhanushali
- Siddhesh Bhalchandra Patil
- Narendrasinh Manubha Zala
- Neelam Kuldip Singh Negi
- Nirmal Singh Raju
- Gopal Bhagwatilal Dave
- Rajesh S Nanda
- Narendrasinh Manubha Zala
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.