MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-KR-03-0046523
Icard Solutions (India) Private Limited - information technology in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹23.57 Cr
▲ 49.75% YoY
Net profit · FY 2025
₹34.25 Lakh
Net margin 1.5%
EBITDA · FY 2025
₹1.61 Cr
EBITDA margin 6.8%
Authorised capital
₹40 Lakh
Registered with MCA
Paid-up capital
₹22.86 Lakh
Issued & subscribed
Open charges
₹1.65 Cr
Satisfied ₹2.46 Cr
Company age
18 yrs
Est. 2008
Employees · EPFO
26
Provident fund records
About Icard Solutions (India) Private Limited
Data last updated:
Icard Solutions (India) Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 20 March 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72211KA2008PTC045707. Its GSTIN is 29AABCI8489F2Z1 (Karnataka). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹40 Lakh and a paid-up capital of ₹22.86 Lakh. It is led by directors Sathya Narayana Muniswmaiah Venkatachalaiah and Pushpanjali Nagaraju Kantarajapura.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at #50 Second Floor 10th Cross Cbi Main Road Ganganagar, Bangalore, Karnataka, India – 560032.
As per the financials filed for FY 2025, the company reported a revenue of ₹23.57 Cr. For the same year it recorded a net profit of ₹34.25 Lakh (net margin 1.5%) and EBITDA of ₹1.61 Cr (EBITDA margin 6.8%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 12% over five years.
The company has about 26 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹1.65 Cr and satisfied charges of ₹2.46 Cr on record.
Icard Solutions (India) Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0046523). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website icardsolutions.com.
Company Details of Icard Solutions (India) Private Limited
CIN U72211KA2008PTC045707
Registration Number 045707
Incorporation Date 20 March 2008
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-KR-03-0046523
Key People
Sathya Narayana Muniswmaiah Venkatachalaiah Director Pushpanjali Nagaraju Kantarajapura Director Recognitions & Rankings of Icard Solutions (India)
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address#50 Second Floor 10th Cross Cbi Main Road Ganganagar, Bangalore, Karnataka, India – 560032
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
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Business Activity of Icard Solutions (India) Private Limited
The main business activity of Icard Solutions (India) is manufacturing. In detail, this covers printing, reproduction of recorded media.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C4 | Printing, reproduction of recorded media | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
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Financials of Icard Solutions (India) Private Limited FY 2025 filings available
Icard Solutions (India) Private Limited reported revenue of ₹23.57 Cr for FY 2025.
Revenue · FY 2025
₹23.57 Cr
Net profit · FY 2025
₹34.25 Lakh margin 1.5%
EBITDA · FY 2025
₹1.61 Cr margin 6.8%
Compounded Annual Growth Rate (CAGR) of Icard Solutions (India) Private Limited
Revenue CAGR growth
3 years · compounded
▲ 15%
5 years · compounded
▲ 12%
EBITDA CAGR growth
1 year
▼ 17%
3 years · compounded
▲ 17%
5 years · compounded
▲ 14%
Revenue has grown at a compounded annual rate (CAGR) of 12% over five years. EBITDA fell 17% 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 of Icard Solutions (India) Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹1.61 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹34.25 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 of Icard Solutions (India) Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 6.8% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 1.5% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Icard Solutions (India) are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
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Board of Directors of Icard Solutions (India) Private Limited
Icard Solutions (India) has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sathya Narayana Muniswmaiah Venkatachalaiah | Director | 20 Mar 2008 | 18 Years 7 Months | Current |
| Pushpanjali Nagaraju Kantarajapura | Director | 20 Mar 2008 | 18 Years 7 Months | Current |
Peer Comparison of Icard Solutions (India) Private Limited
Icard Solutions (India) Private Limited is compared with the companies closest to it by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Adi Artech Transducers Private Limited | ₹23.75 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Vadodara, Gujarat, India |
| CPS Cash Processing Solutions Private Limited | ₹23.71 Cr (FY 2023) | •••• | •••• | 20.0% | •••• | Gurgaon, Haryana, India |
| Autotechnix Control Systems Private Limited | ₹23.68 Cr (FY 2025) | •••• | •••• | -10.0% | •••• | Pune, Maharashtra, India |
| Vital Electronics Private Limited | ₹23.62 Cr (FY 2025) | •••• | •••• | •••• | Thane, Maharashtra, India | |
| Standex Electronics India Private Limited | ₹23.61 Cr (FY 2023) | •••• | •••• | 17.0% | •••• | Bangalore, Karnataka, India |
| Icard Solutions (India) Private Limited this company | ₹23.57 Cr (FY 2025) | •••• | •••• | •••• | Bangalore, Karnataka, India | |
| Utpl Technologies Private Limited | ₹23.53 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Noida, Uttar Pradesh, India |
| Static Systems Electronics Private Limited | ₹23.51 Cr (FY 2025) | •••• | •••• | 33.0% | •••• | New Delhi, Delhi, India |
| Almoe Digital Solutions Private Limited | ₹23.46 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Bangalore, Karnataka, India |
| Space Ality Private Limited | ₹23.22 Cr (FY 2024) | •••• | •••• | -19.0% | •••• | Pune, Maharashtra, India |
| Idemia Identity & Security India Private Limited | ₹23.22 Cr (FY 2025) | •••• | •••• | 17.0% | •••• | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Icard Solutions (India) by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Icard Solutions (India) Private Limited
Icard Solutions (India) Private Limited is audited by Sunil Anni & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Sunil Anni & Co. | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Icard Solutions (India) Private Limited
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Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Icard Solutions (India) Private Limited
Open charges
₹1.65 Cr
Satisfied charges
₹2.46 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 13 Dec 2024 | Hdfc Bank Limited | ₹48.67 Lakh | Open |
| 23 Feb 2024 | Hdfc Bank Limited | ₹79 Lakh | Open |
| 29 Feb 2016 | Reliance Capital Ltd | ₹11.87 Lakh | Open |
| 26 Aug 2008 | Axis Bank Limited | ₹25 Lakh | Open |
| 19 Sep 2022 | Hdfc Bank Limited | ₹10 Lakh | Satisfied |
Total charge records: 8 View all charges
Employees and EPFO Compliance at Icard Solutions (India) Private Limited
Icard Solutions (India) Private Limited has a workforce of 26 employees as of Mar 28, 2024.
Employee count
26
Active EPFO establishments
1
Employee growth
44.44%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
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Recent Activity on Icard Solutions (India) Private Limited
Icard Solutions (India) Private Limited has 3 board changes on record since 2008: 2 appointments and 1 cessation. The latest: Srinivas Gidaganahalli Muddarangappa ceased to be Director on 10 Mar 2010.
AGM
Icard Solutions (India) Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Filing
Icard Solutions (India) Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 48.67 Lakh with Charge ID 101091395 was registered on 13 Dec 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 79.00 Lakh with Charge ID 100878785 was registered on 23 Feb 2024.
Charges
A charge registered on 15 Jul 2021 via Charge ID 100462285 with Hdfc Bank Limited was fully satisfied on 16 Nov 2023.
Charges
A charge registered on 19 Sep 2022 via Charge ID 100613750 with Hdfc Bank Limited was fully satisfied on 07 Sep 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 10.00 Lakh with Charge ID 100613750 was registered on 19 Sep 2022.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 200.00 Lakh with Charge ID 100462285 was registered on 15 Jul 2021.
Charges
A charge registered on 12 Jun 2020 via Charge ID 100354247 with Others was fully satisfied on 12 Feb 2021.
Charges
A charge registered on 29 Nov 2019 via Charge ID 100320918 with Others was fully satisfied on 12 Feb 2021.
Charges
A charge with Others amounted to Rs. 5.59 Lakh with Charge ID 100354247 was registered on 12 Jun 2020.
Charges
A charge with Others amounted to Rs. 30.15 Lakh with Charge ID 100320918 was registered on 29 Nov 2019.
6 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Icard Solutions (India) Private Limited
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MSME Payment Delays by Icard Solutions (India) Private Limited
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Subsidiaries & Group Companies of Icard Solutions (India) Private Limited
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GST Compliance of Icard Solutions (India) Private Limited
Icard Solutions (India) has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCI8489F2Z1 | Karnataka | Active | 01 Jul 2017 |
| 29AAKFR7030B1ZB | Karnataka | Active | 01 Jul 2017 |
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State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
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MCA Filings & Documents of Icard Solutions (India) Private Limited
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Frequently Asked Questions about Icard Solutions (India) Private Limited
Icard Solutions (India) is an active private limited company based in Bangalore, Karnataka, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 20 March 2008 (18+ years old) and is registered under CIN U72211KA2008PTC045707.
Icard Solutions (India) reported revenue of ₹23.57 Cr for FY 2025.
Icard Solutions (India) has 2 current directors:
- Sathya Narayana Muniswmaiah Venkatachalaiah - Director
- Pushpanjali Nagaraju Kantarajapura - Director
Icard Solutions (India) reported a net profit of ₹34.25 Lakh (net margin 1.5%) and EBITDA of ₹1.61 Cr (EBITDA margin 6.8%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Icard Solutions (India) is 15% over three years and 12% over five years. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Icard Solutions (India) is 29AABCI8489F2Z1, registered in Karnataka. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 29AAKFR7030B1ZB (Karnataka).
The CIN (Corporate Identification Number) of Icard Solutions (India) is U72211KA2008PTC045707. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Icard Solutions (India) was incorporated on 20 March 2008, making it 18+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Icard Solutions (India) by revenue are Adi Artech Transducers Private Limited, CPS Cash Processing Solutions Private Limited, Autotechnix Control Systems Private Limited, Vital Electronics Private Limited, Standex Electronics India Private Limited and 5 more, all in the Information Technology industry (Electronic Equipment and Components Manufacturing).
Srinivas Gidaganahalli Muddarangappa ceased to be Director on 10 Mar 2010. Pushpanjali Nagaraju Kantarajapura was appointed as Director on 20 Mar 2008. Sathya Narayana Muniswmaiah Venkatachalaiah was appointed as Director on 20 Mar 2008.
Yes, Icard Solutions (India) is registered as a small enterprise under Udyam registration (number: UDYAM-KR-03-0046523).