Firststep Chits Private Limited
About Firststep Chits Private Limited
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Firststep Chits Private Limited is a private limited company based in Sindhanur, Karnataka, India. It operates in the microfinance institutions segment of the financial services sector. It was incorporated on 07 July 2011 and has been in existence for over 15 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U65992KA2011PTC059525. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹20 Lakh. It is led by directors including Bharathi Jayanthi and Vani Paramesh.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at No. 6 – 1 – 2238 1st Floor Chandana Complex Above Kpf Motors Kustagi Road, Sindhanur, Karnataka, India – 584128.
As per the financials filed for FY 2020, the company reported a revenue of ₹59.83 Lakh, a decline of 34% compared to the previous year. For the same year it recorded a net profit of ₹3.13 Lakh (net margin 5.2%) and EBITDA of ₹4.44 Lakh (EBITDA margin 7.4%). Revenue has declined at a compounded annual rate (CAGR) of 13% over three years and 11% over five years.
Court records list 9 cases involving the company, including 8 filed by the company and 1 filed against it; 2 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Firststep Chits Private Limited's registered office is in Sindhanur, Karnataka. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressNo. 6 – 1 – 2238 1st Floor Chandana Complex Above Kpf Motors Kustagi Road, Sindhanur, Karnataka, India – 584128
- IndustryFinancial Services, Microfinance Institutions
To see the full contact details of Firststep Chits 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
Financials of Firststep Chits Private Limited
FY 2024 filings availableFirststep Chits Private Limited reported revenue of ₹59.83 Lakh (down 34% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 11% over five years, including a 34% fall in the latest year. EBITDA fell 74% 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 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹59.83 Lakh | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹4.44 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹3.13 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 7.4% | ||||
| Net Profit Margin | 5.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| 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 Firststep Chits Private Limited, buy the company report.
Board of directors of Firststep Chits Private Limited
Firststep Chits has 6 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bharathi Jayanthi Also directs: Karshaka Mitra Agrotech India Private Limited | Director | 30 Sep 2016 | 10 Years 1 Months | Current |
| Vani Paramesh | Director | 30 Sep 2016 | 10 Years 1 Months | Current |
| Rajashekar Also directs: Rise Chits Private Limited, Kalyana Sindhu Association | Director | 30 Sep 2016 | 10 Years 1 Months | Current |
| Srinivasulu Manne | Director | 30 Sep 2016 | 10 Years 1 Months | Current |
| Nagesh Gupta Makam | Director | 07 Jul 2011 | 15 Years 4 Months | Current |
| Raju Kollabhovi | Director | 07 Jul 2011 | 15 Years 4 Months | Current |
Peer comparison
Firststep Chits Private Limited is compared with the 8 companies closest to it by revenue in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Pragathi Venkatesh Chits (India) Private Limited | ₹60.23 Lakh (FY 2024) | -26.0% | Madanapalle, Andhra Pradesh, India | |||
| Thirumurugan Chit Funds Private Limited | ₹60.13 Lakh (FY 2024) | 8.0% | Sattur, Tamil Nadu, India | |||
| Sevak Chits Private Limited | ₹60 Lakh (FY 2025) | -10.0% | Coimbatore, Tamil Nadu, India | |||
| Sri Ruthraganga Chits Private Limited | ₹59.92 Lakh (FY 2025) | -2.0% | Salem, Tamil Nadu, India | |||
| Sri Tharakaraama Chit Fund Pvt Ltd | ₹59.88 Lakh (FY 2025) | -2.0% | Hyderabad, Telangana, India | |||
| Firststep Chits Private Limitedthis company | ₹59.83 Lakh (FY 2020) | ₹3.13 Lakh | 5.2% | -34.0% | Sindhanur, Karnataka, India | |
| Rajavalsam Chits Private Limited | ₹59.73 Lakh (FY 2024) | 61.0% | Pathanamthitta, Kerala, India | |||
| SBC Micro Finance | ₹59.7 Lakh (FY 2024) | 295.0% | Uttar Pradesh, India | |||
| Career Chit Fund Private Limited | ₹59.48 Lakh (FY 2025) | 15.0% | Uttar Pradesh, India |
To see the full peer comparison of Firststep Chits Private Limited, buy the company report.
Auditor
Firststep Chits Private Limited is audited by PAVAN JAIN S & CO for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PAVAN JAIN S & CO | FY 2020 | 013639S |
Shareholding
The shareholding of Firststep Chits 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 Firststep Chits Private Limited, buy the company report.
Legal cases
Firststep Chits Private Limited has 9 court cases on record: 8 filed by Firststep Chits, 1 filed against it. 2 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 9 | 1 | 2 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, RAICHUR, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
| District court, RAICHUR, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
| District court, RAICHUR, Karnataka | Court case (P.C.) | Filed by the company against an individual | Disposed |
| District court, RAICHUR, Karnataka | Court case (P.C.) | Filed by the company against an individual | Disposed |
| District court, RAICHUR, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
To see the full case history of Firststep Chits 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 Firststep Chits Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Firststep Chits has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Firststep Chits Private Limited, buy the company report.
Recent activity
Firststep Chits Private Limited has 8 board changes on record since 2011: 6 appointments and 2 cessations. The latest: Shankar Dutt ceased to be Director on 14 Nov 2024.
Frequently asked questions
Firststep Chits is an active private limited company based in Sindhanur, Karnataka, India. The company works in microfinance institutions, within the financial services industry. It was incorporated on 07 July 2011 (15+ years old) and is registered under CIN U65992KA2011PTC059525.
Firststep Chits has 6 current directors:
- Bharathi Jayanthi - Director
- Vani Paramesh - Director
- Rajashekar - Director
- Srinivasulu Manne - Director
- Nagesh Gupta Makam - Director
- Raju Kollabhovi - Director
The latest financial statements of Firststep Chits on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
No. Firststep Chits has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of Firststep Chits is U65992KA2011PTC059525. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Firststep Chits has 9 court cases on record: 8 filed by the company and 1 filed against it. 2 are pending.
Firststep Chits was incorporated on 07 July 2011, making it 15+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Firststep Chits by revenue are Pragathi Venkatesh Chits (India) Private Limited, Thirumurugan Chit Funds Private Limited, Sevak Chits Private Limited, Sri Ruthraganga Chits Private Limited, Sri Tharakaraama Chit Fund Pvt Ltd and 3 more, all in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities).
Shankar Dutt ceased to be Director on 14 Nov 2024. Nooti Sreekanth ceased to be Director on 01 Jun 2019. Bharathi Jayanthi was appointed as Director on 30 Sep 2016. Firststep Chits has 8 board changes on record in total.
The registered office of Firststep Chits is at No. 6 – 1 – 2238 1st Floor Chandana Complex Above Kpf Motors Kustagi Road, Sindhanur, Karnataka, India – 584128.
Firststep Chits operates in the financial services industry, in the microfinance institutions segment.
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