About Icm Finance Private Limited
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Icm Finance Private Limited is a private limited company based in Kolkata, West Bengal, India, a subsidiary of Silver Cross Marketing Pvt Ltd. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 29 November 2005 and has been in existence for over 21 years.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U65910WB2005PTC189470. Its GSTIN is 19AAFCA4930K1ZI (West Bengal).
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹5 Cr. It was formerly known as Ashmavir Finance Private Limited. It is led by directors including Dharmesh Mehta and Kamlesh Harkishandas Mehta.
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 Kolkata, West Bengal.
As per the financials filed for FY 2025, the company reported a revenue of ₹2,260.31 Cr, a decline of 23% compared to the previous year. For the same year it recorded a net profit of ₹80.85 Cr (net margin 3.6%) and EBITDA of ₹148.5 Cr (EBITDA margin 6.6%). Revenue has grown at a compounded annual rate (CAGR) of 48% over three years and 44% over five years.
As per MCA filings, the company has open charges of ₹25 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website icmfinance.in.
Company details
CIN history
Icm Finance has one previous CIN (Corporate Identification Number): U65910MH2005PTC157638. The current CIN is U65910WB2005PTC189470, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65910WB2005PTC189470 | Current |
| U65910MH2005PTC157638 | Previous |
Contact details
Icm Finance Private Limited's registered office is in Kolkata, West Bengal. Its website is icmfinance.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address6th Floor Mukti World 9/3B Leela Roy Sarani, (Formerly Known As Gariahat Road), Kolkata, West Bengal, India – 700019
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of Icm Finance 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
Business activity
The main business activity of Icm Finance is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Icm Finance Private Limited, buy the company report.
Financials of Icm Finance Private Limited
FY 2025 filings availableIcm Finance Private Limited reported revenue of ₹2,260.31 Cr (down 23% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 23% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 44%. EBITDA fell 38% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹2,260.31 Cr | ||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹148.5 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹80.85 Cr | ||||
| 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 | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 6.6% | ||||
| Net Profit Margin | 3.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| 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 Icm Finance Private Limited, buy the company report.
Board of directors of Icm Finance Private Limited
Icm Finance has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dharmesh Mehta | Director | 12 Apr 2012 | 14 Years 7 Months | Current |
| Kamlesh Harkishandas Mehta Also directs: Manphool Exports Ltd, Bijco Holdings Ltd. | Director | 12 Apr 2012 | 14 Years 7 Months | Current |
| Kushal Joshi Also directs: Bijco Holdings Ltd. | Director | 20 Mar 2026 | 0 Years 7 Months | Current |
Peer comparison
Icm Finance Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Finance, Large NBFC, Mid Sized Non Deposit NBFC), 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 |
|---|---|---|---|---|---|---|
| L & T Finance Limited | ₹2,351.99 Cr (FY 2016) | -2.0% | Mumbai, Maharashtra, India | |||
| Icm Finance Private Limitedthis company | ₹2,260.31 Cr (FY 2025) | ₹80.85 Cr | 3.6% | -23.0% | Kolkata, West Bengal, India | |
| Five-Star Business Finance Limited | ₹2,195.1 Cr (FY 2024) | 44.0% | Chennai, Tamil Nadu, India | |||
| Wadhawan Global Capital Limited | ₹2,175.8 Cr (FY 2018) | 267.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Icm Finance Private Limited, buy the company report.
Auditor
Icm Finance Private Limited is audited by BAVISHI & BAVISHI ASSOCIALTES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BAVISHI & BAVISHI ASSOCIALTES | FY 2023 | 322504E |
Shareholding
The shareholding of Icm Finance Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Icm Finance Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Dec 2018 | 100228180 | Others | ₹25 Cr | Open |
Total charge records: 1 View all charges
Legal cases
Icm Finance Private Limited has 5 court cases on record: 5 filed by Icm Finance. 1 case is pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 0 | 1 |
| District courts | 1 | 0 | 0 |
Cases on record (3 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (SS CASES S) | Filed by the company against Mera Baba Reality Associates Pvt Ltd. and Others | Disposed |
| High Court, West Bengal | Writ petition | Filed by the company against Union of India and Ors | Pending |
| High Court, West Bengal | Writ petition | Filed by the company against Union of India and Ors | Disposed |
To see the full case history of Icm Finance 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 Icm Finance Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Icm Finance has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AAFCA4930K1ZI | West Bengal | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Icm Finance Private Limited, buy the company report.
Recent activity
Icm Finance Private Limited has 13 board changes on record since 2005: 8 appointments and 5 cessations. The latest: Kushal Joshi was appointed as Director on 20 Mar 2026.
5 earlier events are in the company report.
Frequently asked questions
Icm Finance is an active private limited company based in Kolkata, West Bengal, India. The company works in nbfc, within the financial services industry. It was incorporated on 29 November 2005 (21+ years old) and is registered under CIN U65910WB2005PTC189470.
Icm Finance has 3 current directors:
- Dharmesh Mehta - Director
- Kamlesh Harkishandas Mehta - Director
- Kushal Joshi - Director
The latest financial statements of Icm Finance on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Icm Finance is 19AAFCA4930K1ZI, registered in West Bengal.
The CIN (Corporate Identification Number) of Icm Finance is U65910WB2005PTC189470. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Icm Finance has 5 court cases on record: 5 filed by the company. 1 is pending. Most are in the high courts.
Icm Finance was incorporated on 29 November 2005, making it 21+ years old. It is registered with the Registrar of Companies, Kolkata.
The peers of Icm Finance by revenue are L & T Finance Limited, Five-Star Business Finance Limited, Wadhawan Global Capital Limited, all in the BFSI industry (Finance, Large NBFC, Mid Sized Non Deposit NBFC), with the same principal business activity (other financial activities).
Kushal Joshi was appointed as Director on 20 Mar 2026. Jignesh Babubhai Patel ceased to be Director on 08 Feb 2013. Shashidhar Shankar Bangera ceased to be Director on 08 Feb 2013. Icm Finance has 13 board changes on record in total.
Icm Finance can be reached through the website icmfinance.in. Its registered office is in Kolkata, West Bengal, India.
The registered office of Icm Finance is at 6th Floor Mukti World 93B Leela Roy Sarani, Formerly Known As Gariahat Road, Kolkata, West Bengal, India – 700019.
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