Heads Up Ventures Limited - manufacturing in Palghar, Maharashtra, India. FY 2026 financials & compliance.
CIN L52390MH2011PLC213349 Incorporated 12 February 2011 ROC Mumbai HQ Palghar, Maharashtra, India
Active Listed - NSE: HEADSUP · BSE: 540210 Public Limited Company manufacturing MSME · Small
Data last updated
Market Cap
₹12.85 Cr
HEADSUP · NSE
Share Price
₹5.99
+2.92% today
Revenue
₹17.26 Cr
FY 2025-26 · +1115.5% YoY
EBITDA
−₹1.54 Cr
Margin -8.9%
Net Profit
−₹0.03 Cr
FY 2025-26 · -102.1% YoY
Authorised capital
₹40 Cr
Registered with MCA
Paid-up capital
₹22.08 Cr
Issued & subscribed
Satisfied charges
₹60 Cr
No open charges

About Heads Up Ventures Limited

Data last updated:

Heads Up Ventures Limited is a public limited company based in Palghar, Maharashtra, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 12 February 2011 and has been in existence for over 15 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L52390MH2011PLC213349. Its GSTIN is 27AAHCM2029B1ZW (Maharashtra). The company holds 17 GST registrations, of which 5 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 540210 and NSE: HEADSUP.

The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹22.08 Cr. It was formerly known as Mandhana Retail Ventures Limited and Macrovision Retail Ventures Limited. It is led by directors including Abhishek Shivpujan Giri and Sudhir Kumar Arya.

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 Palghar, Maharashtra.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹17.26 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹3 Lakh (net margin -0.2%) and EBITDA of -₹1.54 Cr (EBITDA margin -8.9%).

The company has about 12 employees on its provident fund (EPFO) records.

The company is associated with 2 brands: Being Human Clothing and MRVL. As per MCA filings, the company has satisfied charges of ₹60 Cr on record. Court records list 6 cases involving the company, including 6 filed by the company. The company has 98 deals on record (97 market trades, 1 secondary share transfer); the latest was in July 2026. The company has 5 MSME Form 1 returns on record between 2019 and 2020, listing 130 overdue payments to 17 micro and small suppliers.

Heads Up Ventures Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-33-0191341). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mrvlindia.com.

Company details

CIN L52390MH2011PLC213349
Registration Number 213349
Incorporation Date 12 February 2011
ROC Mumbai
Listing Status Listed - Listed on NSE (HEADSUP); Listed on BSE (540210)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-33-0191341

Name history

Heads Up Ventures has undergone 4 name changes throughout its history. The current legal name is Heads Up Ventures Limited.

Company NameStatus
Heads Up Ventures LimitedCurrent
Mandhana Retail Ventures LimitedPrevious
Macrovision Retail Ventures LimitedPrevious
The Mandhana Retail Ventures LimitedPrevious
Moonflower Retail Ventures LimitedPrevious

CIN history

Heads Up Ventures has one previous CIN (Corporate Identification Number): U52390MH2011PLC213349. The current CIN is L52390MH2011PLC213349, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L52390MH2011PLC213349Current
U52390MH2011PLC213349Previous

Recognitions & Rankings of Heads Up Ventures

MSME (Udyam registered) Ministry of MSME
Category
Small (2026-27)
Udyam number
UDYAM-MH-33-0191341

Contact details

Heads Up Ventures Limited's registered office is in Palghar, Maharashtra. Its website is mrvlindia.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Registered Address
    H. No. 101 Mahim Road, Tembhode, Palghar, Maharashtra, India – 401404
  • Industry
    Manufacturing, Textile & Fabric Production

To see the full contact details of Heads Up Ventures Limited, buy the company report.

Comprehensive company report
Heads Up Ventures 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

Heads Up Ventures operates two associated brands: Being Human Clothing and MRVL. Each brand links to its own profile.

BrandDescriptionWebsite
Runs a direct-to-consumer brand offering casual apparel for men and women.beinghumanclothing.com
Internet first brand offering apparel and fashion accessories for men and womenmrvlindia.com

Business activity

The main business activity of Heads Up Ventures is trade. In detail, this covers retail trading.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
GTradeG2Retail Trading

To see the full business activity and turnover split of Heads Up Ventures Limited, buy the company report.

Financials of Heads Up Ventures Limited

FY 2025-26 filings available

Heads Up Ventures Limited reported revenue of ₹17.26 Cr (up 1115.5% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹17.26 Cr
+1115.5% YoY
EBITDA
−₹1.54 Cr
-297.4% YoY
Profit After Tax
−₹0.03 Cr
-102.1% YoY
Net Worth
-
Total Assets
-
Total Debt
-

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
Revenue17.261.420.630.730.970.44152
Revenue growth+1115.5%+125.4%-13.7%-24.7%+120.5%-99.7%-
EBITDA(1.54)0.78(4.41)(9.99)(6.38)(7.67)(9.07)
EBITDA margin-8.9%+54.9%-700.0%-1368.5%-657.7%-1743.2%-6.0%
Profit before tax0.241.61(4.30)(9.75)(5.37)(2.79)(21.94)
Net profit(0.03)1.41(4.30)(9.66)(5.37)(2.88)(30.85)
Net profit margin-0.2%+99.3%-682.5%-1323.3%-553.6%-654.6%-20.3%
EPS (₹)(0.01)0.63(1.96)(4.37)(2.43)(1.26)(14.06)
Balance sheet
Total assets-15.3513.9618.4728.0933.4338.68
Net worth-15.3313.9418.1527.7733.1536.01
Total debt-0.000.000.000.000.002.29
Cash & bank-2.291.352.3515.0117.065.45
Net working capital-14.1912.9117.2527.1033.1936.91
Cash flow
Cash from operations-0.09(1.14)(9.46)0.8412.2023.68
Cash from investing-0.840.141.450.85(15.15)(5.32)
Cash from financing-0.000.00(0.49)(0.48)(2.42)(13.32)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.002.800.002.9611.501.270.150.00
Revenue growth (YoY)-100.0%+120.5%-100.0%-----
Other income0.000.000.001.030.750.170.170.32
Total expenses0.025.910.612.949.330.140.060.04
EBITDA(0.02)(3.11)(0.61)0.022.171.130.09(0.04)
EBITDA margin--111.1%-+0.7%+18.9%+89.0%+60.0%-
Depreciation0.000.000.000.000.000.010.000.00
Interest0.000.000.000.000.000.000.000.00
Profit before tax(0.02)(3.11)(0.61)1.052.921.290.260.28
Tax0.000.000.000.260.000.190.000.01

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 26 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue0.002.800.002.9611.501.270.150.00
Revenue growth (YoY)-100.0%+120.5%-100.0%-----
Other income0.000.000.001.030.750.170.170.32
Total expenses0.025.910.612.949.330.140.060.04
EBITDA(0.02)(3.11)(0.61)0.022.171.130.09(0.04)
EBITDA margin--111.1%-+0.7%+18.9%+89.0%+60.0%-
Depreciation0.000.000.000.000.000.010.000.00
Interest0.000.000.000.000.000.000.000.00
Profit before tax(0.02)(3.11)(0.61)1.052.921.290.260.28
Tax0.000.000.000.260.000.190.000.01
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue17.261.420.630.730.970.44152
Revenue growth+1115.5%+125.4%-13.7%-24.7%+120.5%-99.7%-
Other income1.780.840.160.781.545.138.84
Total expenses18.800.645.0410.727.358.11161
Employee cost0.000.301.823.563.564.0520.66
EBITDA(1.54)0.78(4.41)(9.99)(6.38)(7.67)(9.07)
EBITDA margin-8.9%+54.9%-700.0%-1368.5%-657.7%-1743.2%-6.0%
Depreciation0.000.010.050.040.040.0514.01
Interest0.000.000.000.500.490.207.70
Profit before tax0.241.61(4.30)(9.75)(5.37)(2.79)(21.94)
Tax0.270.200.00(0.09)0.000.009.11
Net profit(0.03)1.41(4.30)(9.66)(5.37)(2.88)(30.85)
Net profit margin-0.2%+99.3%-682.5%-1323.3%-553.6%-654.6%-20.3%
EPS (₹)(0.01)0.63(1.96)(4.37)(2.43)(1.26)(14.06)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital-22.0822.0822.0822.0822.0822.08
Reserves & surplus-(6.75)(8.14)(3.93)5.6911.0713.93
Shareholders' funds (net worth)-15.3313.9418.1527.7733.1536.01
Secured loans-0.000.000.000.000.002.29
Unsecured loans-0.000.000.000.000.000.00
Total debt-0.000.000.000.000.002.29
Total liabilities-15.3513.9618.4728.0933.4338.68
Assets
Gross block-0.220.240.390.230.221.79
Net block-0.150.160.240.120.151.70
Capital work in progress-0.000.000.000.030.000.00
Investments-0.000.000.000.000.000.00
Inventories-0.000.001.320.000.000.16
Sundry debtors-1.060.921.121.381.986.31
Cash & bank balances-2.291.352.3515.0117.065.45
Loans & advances-13.7612.9515.4917.7724.7743.79
Total current assets-17.1115.2220.2834.1643.8155.71
Total current liabilities-2.922.313.037.0610.6218.80
Net working capital-14.1912.9117.2527.1033.1936.91
Total assets-15.3513.9618.4728.0933.4338.68
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash-1.352.3510.859.675.450.41
Net cash from operating activities-0.09(1.14)(9.46)0.8412.2023.68
Net cash from investing activities-0.840.141.450.85(15.15)(5.32)
Net cash from financing activities-0.000.00(0.49)(0.48)(2.42)(13.32)
Net change in cash-0.93(0.99)(8.50)1.21(5.37)5.04
Closing cash-2.291.352.3515.0117.065.45
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+1115.5%+125.4%-13.7%-24.7%+120.5%-99.7%-
EBITDA growth-297.4%+117.7%+55.9%-56.6%+16.8%+15.4%-
PBT growth-85.1%+9998.0%+55.9%-81.6%-92.5%+87.3%-
Net income growth-102.1%+132.8%+55.5%-79.9%-86.5%+90.7%-
Revenue CAGR (3Y)+187.0%+13.6%+12.7%-83.1%-83.6%-88.1%-16.4%
EBITDA CAGR (3Y)-46.4%--16.9%+3.3%---
Profitability & leverage
Net income margin-0.2%+99.3%-682.5%-1323.3%-553.6%-634.1%-20.4%
Return on capital employed-+8.8%0.0%0.0%-15.8%-7.2%-24.6%
Return on net worth-+7.7%0.0%0.0%-17.6%-8.1%-60.4%
Debt / equity-0.000.000.000.000.030.10
Long-term debt / equity-0.000.000.000.000.000.00
Interest cover0.000.000.00-4.99-7.63-2.59-33.36
Efficiency & per share
Fixed asset turnover-6.172.002.354.310.448.85
Inventory turnover-0.000.951.110.005.507.52
Debtors turnover-1.430.620.580.580.1110.70
EPS (₹)(0.01)0.63(1.96)(4.37)(2.43)(1.26)(14.06)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.006.946.318.2212.5815.0116.31

To see the full year-wise statements and ratios of Heads Up Ventures Limited, buy the company report.

Board of directors of Heads Up Ventures Limited

Heads Up Ventures has 7 current directors and 28 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Abhishek Shivpujan GiriDirector11 Nov 20241 Years 11 MonthsCurrent
Sudhir Kumar AryaDirector27 Mar 20242 Years 6 MonthsCurrent
Harsh Pravinbhai PatelDirector16 Dec 20241 Years 10 MonthsCurrent
Kunj Yogeshbhai PatelDirector16 Dec 20241 Years 10 MonthsCurrent
Amrita Ashutosh TiwariDirector16 Dec 20241 Years 10 MonthsCurrent
Vaishaliben PatelAdditional Director23 Feb 20260 Years 8 MonthsCurrent
Showing 6 of 7 current directors. View all directors

Auditor

Heads Up Ventures Limited is audited by Ram Agarwal & Associates for the financial year 2022.

Auditor firmFinancial yearFirm registration number
Ram Agarwal & AssociatesFY 2022140954W

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 13.60%, foreign institutional investors hold 0.40%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 86.00%.

Promoters: 13.60%FII (Foreign Institutional): 0.40%Retail & Others: 86.00%
Sep 2026
QUARTER
13.60% Promoters
0.40% FII (Foreign Institutional)
86.00% Retail & Others
Promoter holding - history
Now 13.60% · Sep 2026High 13.60% · Dec 2025Low 13.60% · Dec 2025
12%12.8%13.5%14.3%15%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 13.60%Mar 2026: 13.60%Jun 2026: 13.60%Sep 2026: 13.60%13.60%13.60%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters13.60%13.60%13.60%13.60%
Public86.40%86.40%86.40%86.40%

Charges & borrowings

Open charges
None
Satisfied charges
₹60 Cr
Breakdown by lending institutions
Axis Bank Limited₹50.00 Cr
Hdfc Bank Limited₹10.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
30 Jan 2017100076585Hdfc Bank Limited₹10 CrSatisfied
26 Sep 2016100080649Axis Bank Limited₹50 CrSatisfied

To see the full charge records of Heads Up Ventures Limited, buy the company report.

Total charge records: 2 View all charges

Deals & funding

Heads Up Ventures Limited has 98 deals on record (97 market trades, 1 secondary share transfer); the latest was in July 2026.

Total deals
98
Market trades
97
Secondary share transfer
1

Deals on record (5 of 98)

WhenDealAmountParties
Jul 2026Market trade₹8.5 LakhSeller: Riddisiddhi Bullions Limited
Jun 2025Market trade₹21.5 LakhSeller: Skybridge Incap Advisory LLP
Jun 2025Market trade₹23.2 LakhSeller: Skybridge Incap Advisory LLP
Feb 2025Market trade₹13.8 LakhBuyer: Setu Securities Private Limited
Seller: Setu Securities Private Limited
Jan 2025Market trade₹19.3 LakhBuyer: Marutinandan Capital Private Limited
Seller: an individual

To see the full deal history of Heads Up Ventures 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

Heads Up Ventures Limited has 5 MSME Form 1 returns on record between 2019 and 2020, listing 130 overdue payments to 17 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 17)

SupplierAmount dueDue sinceReported on
Wrecker Jeans & Casuals Private Limited
Desmil Fashions LLP
Indigomatrix Clothing
Mehta Export Corporation
Annu Exports

To see the full MSME payment records of Heads Up Ventures Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Heads Up Ventures Limited has a workforce of 12 employees on its EPFO records as of Apr 02, 2024, across 1 active EPFO establishment.

Employee count
12
Active EPFO establishments
1
Employee growth
-40%

GST

Heads Up Ventures has 17 GST registrations: 5 active and 12 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
17
Active
5
Cancelled / inactive
12
GSTINStateStatusRegistered on
27AAHCM2029B1ZWMaharashtraActive01 Jul 2017
08AAHCM2029B1ZWRajasthanActive01 Jul 2017
20AAHCM2029B1ZAJharkhandActive01 Jul 2017
32AAHCM2029B1Z5KeralaActive01 Jul 2017

To see the full GST registrations and return filing status of Heads Up Ventures Limited, buy the company report.

Recent activity

Heads Up Ventures Limited has 31 board changes on record since 2016: 7 appointments and 24 cessations. The latest: Ayush Patel ceased to be Additional Director on 27 Apr 2026.

Ceased
Ayush Patel ceased to be Additional Director.
Filing
Heads Up Ventures Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai Ii.
Appointed
Vaishaliben Patel was appointed as Additional Director.
Ceased
Akash Jitendrakumar Patel ceased to be Additional Director.
Appointed
Asmitaben Ravikumar Patel was appointed as Additional Director.
AGM
Heads Up Ventures Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Appointed
Amrita Ashutosh Tiwari was appointed as Director.
Appointed
Harsh Pravinbhai Patel was appointed as Director.
Appointed
Kunj Yogeshbhai Patel was appointed as Director.
Appointed
Abhishek Shivpujan Giri was appointed as Director.
Charges
A charge registered on 26 Sep 2016 via Charge ID 100080649 with Axis Bank Limited was fully satisfied on 24 Sep 2024.
Ceased
Bharatkumar Murlidhar Mundra ceased to be Additional Director.

26 earlier events are in the company report.

Frequently asked questions

Heads Up Ventures is an active public limited company based in Palghar, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 12 February 2011 (15+ years old) and is registered under CIN L52390MH2011PLC213349. Listed on BSE: 540210 and NSE: HEADSUP.

Heads Up Ventures reported revenue of ₹17.26 Cr for FY 2025-26 (up 1115.5% YoY) based on standalone financials.

Heads Up Ventures has 7 current directors:

The latest financial statements of Heads Up Ventures 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 Heads Up Ventures is 27AAHCM2029B1ZW, registered in Maharashtra. The company has 17 GST registrations in all, of which 5 are active and 12 are cancelled or inactive. Other active GSTINs include 08AAHCM2029B1ZW (Rajasthan), 20AAHCM2029B1ZA (Jharkhand), 32AAHCM2029B1Z5 (Kerala).

The CIN (Corporate Identification Number) of Heads Up Ventures is L52390MH2011PLC213349. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Heads Up Ventures is a listed company as per MCA records. Its shares are listed on both BSE (code: 540210) and NSE (symbol: HEADSUP).

Heads Up Ventures has 6 court cases on record: 6 filed by the company.

Heads Up Ventures was incorporated on 12 February 2011, making it 15+ years old. It is registered with the Registrar of Companies, Mumbai.

Heads Up Ventures has 98 deals on record (97 market trades, 1 secondary share transfer); the latest was in July 2026.

Ayush Patel ceased to be Additional Director on 27 Apr 2026. Vaishaliben Patel was appointed as Additional Director on 23 Feb 2026. Akash Jitendrakumar Patel ceased to be Additional Director on 14 Nov 2025. Heads Up Ventures has 31 board changes on record in total.