Incred Financial Services Limited

Incred Financial Services Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN U67190MH1995PLC360817 Incorporated 03 February 1995 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Public Limited Company financial services
Data last updated
Revenue · FY 2026
₹2,566.56 Cr
▲ 36% YoY
Net profit · FY 2026
₹437.63 Cr
Net margin 17.1%
EBITDA · FY 2026
₹1,537.73 Cr
EBITDA margin 59.9%
Authorised capital
₹700 Cr
Registered with MCA
Paid-up capital
₹490.53 Cr
Issued & subscribed
Open charges
₹17,326 Cr
Satisfied ₹4,902.37 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
1,749
Provident fund records

About Incred Financial Services Limited

Data last updated:

Incred Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Incred Holdings Limited. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 03 February 1995 and has been in existence for over 31 years.

Its director Bhupinder Singh is #492 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67190MH1995PLC360817. Its GSTIN is 27AAACM7774Q1ZM (Maharashtra). The company holds 18 GST registrations, of which 17 are active.

The company has an authorised share capital of ₹700 Cr and a paid-up capital of ₹490.53 Cr. It was formerly known as Kkr India Financial Services Limited and Kkr India Financial Services Private Limited. It is led by directors including Bhupinder Singh (Whole-Time Director) and Gaurav Maheshwari (Whole-Time Director).

Its last annual general meeting (AGM) was held on 09 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Unit No. 1203 12th Floor B Wing The Capital Plot No. C – 70 G Block BKC, Mumbai, Maharashtra, India – 400051.

As per the financials filed for FY 2026, the company reported a revenue of ₹2,566.56 Cr, a growth of 36% compared to the previous year. For the same year it recorded a net profit of ₹437.63 Cr (net margin 17.1%) and EBITDA of ₹1,537.73 Cr (EBITDA margin 59.9%). Revenue has grown at a compounded annual rate (CAGR) of 43% over three years and 46% over five years.

The company has about 1,749 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.

The company is associated with 2 brands: InCred and InstaPaisa. As per MCA filings, the company has open charges of ₹17,326 Cr and satisfied charges of ₹4,902.37 Cr on record. Court records list 9,087 cases involving the company, including 8,767 filed by the company and 320 filed against it; 6,534 cases are pending. The company has 13 deals on record (3 debt financings, 3 funding rounds, 3 rights issues), with disclosed funding of ₹2,237.47 Cr; the latest was in July 2025. The company has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 4 overdue payments to 4 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website incred.com.

Company details

CIN U67190MH1995PLC360817
Registration Number 360817
Incorporation Date 03 February 1995
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 09 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Incred Holdings Limited
Compliance Status Active Compliant

Name history

Incred Financial Services has undergone 3 name changes throughout its history. The company was previously known as Kkr India Financial Services Limited, Kkr India Financial Services Private Limited, and Multiflow Financial Services Private Limited. The current legal name is Incred Financial Services Limited.

Company NameStatus
Incred Financial Services LimitedCurrent
Kkr India Financial Services LimitedPrevious
Kkr India Financial Services Private LimitedPrevious
Multiflow Financial Services Private LimitedPrevious

CIN history

Incred Financial Services has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U67190MH1995PLC360817, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U67190MH1995PLC360817Current
U67190TN1995PTC030045Previous
U67190TN1995PLC030045Previous
Key People
Bhupinder Singh Whole-Time Director Gaurav Maheshwari Whole-Time Director Rupa Rajul Vora Director

Recognitions & Rankings of Incred Financial Services

India's Richest People 2026 edition · 1 director · Source: Hurun India

Contact details

Incred Financial Services Limited's registered office is in Mumbai, Maharashtra. Its website is incred.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    incred.com
  • Social Media
  • Registered Address
    Unit No. 1203 12th Floor B Wing The Capital Plot No. C – 70 G Block BKC, Mumbai, Maharashtra, India – 400051
  • Industry
    Financial Services, NBFC, Investment & Credit NBFC

To see the full contact details of Incred Financial Services Limited, buy the company report.

Comprehensive company report
Incred Financial Services 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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Secure checkout · GST invoice included

Brands

Incred Financial Services operates two associated brands: InCred and InstaPaisa. Each brand links to its own profile.

BrandDescriptionWebsite
InCred
Financial services are provided, specializing in personal and business loans.incred.com
InstaPaisa
B2C marketplace for personal loansinstapaisa.com

Business activity

The main business activity of Incred Financial Services is financial and insurance service. In detail, this covers financial and credit leasing activities.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
KFinancial and insurance ServiceK5Financial and Credit leasing activities

To see the full business activity and turnover split of Incred Financial Services Limited, buy the company report.

Financials of Incred Financial Services Limited

FY 2025 filings available

Incred Financial Services Limited reported revenue of ₹2,566.56 Cr (up 36% YoY) for FY 2026.

Revenue · FY 2026
₹2,566.56 Cr ▲ 36%
Net profit · FY 2026
₹437.63 Cr margin 17.1%
EBITDA · FY 2026
₹1,537.73 Cr margin 59.9%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 36%
3 years · compounded
▲ 43%
5 years · compounded
▲ 46%
EBITDA CAGR growth
5 years · compounded
▲ 56%

Revenue has grown at a compounded annual rate (CAGR) of 46% over five years, including 36% growth 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

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22
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₹1,537.73 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)₹437.63 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
Cash and Bank Balance
Total Assets

Financial Ratios

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22
Profitability
EBITDA Margin59.9%
Net Profit Margin17.1%
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 Incred Financial Services Limited, buy the company report.

Board of directors of Incred Financial Services Limited

Incred Financial Services has 7 current directors and 26 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Rupa Rajul Vora
Also directs: Omniactive Health Technologies Limited, Saarathi Finance and Credit Private Limited, JM Financial Asset Reconstruction Company Limited and 5 more
Director26 Jul 20224 Years 3 MonthsCurrent
Vivekanand Suryaprakash Periayapatnam
Also directs: Incred Holdings Limited, Inara Capital Advisors Private Limited, Oaks Asset Management Private Limited
Director26 Jul 20224 Years 3 MonthsCurrent
Bhupinder Singh
Also directs: Incred Holdings Limited, Naab Restaurant LLP, Bhajji Da Dhaba Hospitality Private Limited and 5 more
Whole-Time Director26 Jul 20224 Years 3 MonthsCurrent
Sekar Karnam
Also directs: Incred Holdings Limited, Laurus Labs Limited, Ugro Capital Limited and 1 more
Director26 Jul 20224 Years 3 MonthsCurrent
Gaurav Maheshwari
Also directs: Incred Holdings Limited, Incred Capital Financial Services Limited, Incred Prive Wealth Private Limited
Whole-Time Director27 Jan 20251 Years 9 MonthsCurrent
Sunita GuptaDirector30 Mar 20233 Years 7 MonthsCurrent
Showing 6 of 7 current directors. View all directors

Auditor

Incred Financial Services Limited is audited by DeloitteHaskins&Sells LLP for the financial year 2018.

Auditor firmFinancial yearFirm registration number
DeloitteHaskins&Sells LLPFY 2018117366W

Shareholding

The shareholding of Incred Financial Services Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.

Shareholder categoryFY 2024FY 2023FY 2022FY 2021FY 2020
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Incred Financial Services Limited, buy the company report.

Charges & borrowings

Open charges
₹17,326 Cr
Satisfied charges
₹4,902.37 Cr
Breakdown by lending institutions
Others₹17,283.81 Cr
Canara Bank₹42.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
11 Sep 2026101413670Others₹50 CrOpen
27 Aug 2026101397660Others₹50 CrOpen
06 Aug 2026101388392Others₹40 CrOpen
31 Jul 2026101377002Others₹20 CrOpen
20 Jul 2026101387602Others₹100 CrOpen

To see the full charge records of Incred Financial Services Limited, buy the company report.

Total charge records: 90 View all charges

Deals & funding

Incred Financial Services Limited has 13 deals on record (3 debt financings, 3 funding rounds, 3 rights issues), with disclosed funding of ₹2,237.47 Cr; the latest was in July 2025.

Total deals
13
Debt financings
3
Funding rounds
3
Rights issues
3
Secondary share transfers
3
Disclosed funding
₹2,237.47 Cr

Deals on record (5 of 13)

WhenDealAmountParties
May 2024Debt financing₹520 CrInvestors: Dream Capital, Incred Wealth and Investment Services Private Limited , Neo Asset Management Private Limited
Dec 2023Rights issue₹500 CrInvestors: Incred Holdings Limited
Nov 2017Rights issue₹640.34 CrInvestors: Incred Holdings Limited
Mar 2017Secondary share transferUndisclosedBuyer: Incred Holdings Limited
Seller: KKR India Private Equity
Mar 2017Secondary share transferUndisclosedBuyer: Incred Holdings Limited & Krishnan Brahmadesham V
Seller: Incred Holdings Limited

To see the full deal history of Incred Financial Services Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Incred Financial Services Limited was last rated by Crisil on 30 Mar 2020.

Rating agencyRated onRating
Crisil30 Mar 2020

To see the full credit ratings and regulatory alerts of Incred Financial Services Limited, buy the company report.

MSME payment delays

Incred Financial Services Limited has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 4 overdue payments to 4 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 (4 of 4)

SupplierAmount dueDue sinceReported on
Os3 Infotech Private Limited
MGB Advisors Private Limited
National E- Governance Services Limited
M/S. K A Pandit

To see the full MSME payment records of Incred Financial Services Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

Incred Financial Services has 2 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.

2
Subsidiary companies
Key subsidiaries
Company NameCINShares held
Incred Finserv Private LimitedU72900MH2016PTC273211
Incred.Ai LimitedU74999MH2021PLC358271

To see the full group structure of Incred Financial Services Limited, buy the company report.

Employees & EPFO

Incred Financial Services Limited has a workforce of 1,749 employees on its EPFO records as of Dec 18, 2024, across 2 active EPFO establishments.

Employee count
1,749
Active EPFO establishments
2
Employee growth
13.2%

GST

Incred Financial Services has 18 GST registrations: 17 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
18
Active
17
Cancelled / inactive
1
GSTINStateStatusRegistered on
27AAACM7774Q1ZMMaharashtraActive01 Jul 2017
07AAACM7774Q1ZODelhiActive20 May 2022
29AAACM7774Q1ZIKarnatakaActive24 May 2022
37AAACM7774Q1ZLAndhra PradeshActive26 May 2022

To see the full GST registrations and return filing status of Incred Financial Services Limited, buy the company report.

Recent activity

Incred Financial Services Limited has 30 board changes on record since 2009: 7 appointments and 23 cessations. The latest: Gaurav Maheshwari was appointed as Whole-Time Director on 27 Jan 2025.

Charges
A charge with Others of Rs. 13,078.50 Cr registered on 28 Jan 2020 with Charge ID 100322600 was modified on 30 Sep 2026.
Charges
A charge with Others amounted to Rs. 50.00 Cr with Charge ID 101413670 was registered on 11 Sep 2026.
Charges
A charge with Others amounted to Rs. 50.00 Cr with Charge ID 101397660 was registered on 27 Aug 2026.
Charges
A charge with Others amounted to Rs. 40.00 Cr with Charge ID 101388392 was registered on 06 Aug 2026.
Charges
A charge with Others amounted to Rs. 20.00 Cr with Charge ID 101377002 was registered on 31 Jul 2026.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 101387602 was registered on 20 Jul 2026.
Charges
A charge with Others amounted to Rs. 100.68 Cr with Charge ID 101364311 was registered on 14 Jul 2026.
Charges
A charge registered on 07 Jun 2021 via Charge ID 100450139 with Others was fully satisfied on 24 Jun 2026.
Charges
A charge with Others amounted to Rs. 38.44 Cr with Charge ID 101341660 was registered on 23 Jun 2026.
Charges
A charge with Others amounted to Rs. 81.00 Cr with Charge ID 101347990 was registered on 16 Jun 2026.
Charges
A charge with Others amounted to Rs. 16.00 Cr with Charge ID 101353953 was registered on 08 Jun 2026.
Charges
A charge with Others amounted to Rs. 40.00 Cr with Charge ID 101353941 was registered on 03 Jun 2026.

165 earlier events are in the company report.

News

Frequently asked questions

Incred Financial Services is an active public limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 03 February 1995 (31+ years old) and is registered under CIN U67190MH1995PLC360817.

Incred Financial Services has 7 current directors:

The latest financial statements of Incred Financial Services on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 09 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Incred Financial Services is 27AAACM7774Q1ZM, registered in Maharashtra. The company has 18 GST registrations in all, of which 17 are active and 1 is cancelled or inactive. Other active GSTINs include 07AAACM7774Q1ZO (Delhi), 29AAACM7774Q1ZI (Karnataka), 37AAACM7774Q1ZL (Andhra Pradesh).

The CIN (Corporate Identification Number) of Incred Financial Services is U67190MH1995PLC360817. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Incred Financial Services has 9,087 court cases on record: 8,767 filed by the company and 320 filed against it. 6,534 are pending. Most are in the district courts.

Incred Financial Services was incorporated on 03 February 1995, making it 31+ years old. It is registered with the Registrar of Companies, Mumbai.

Incred Financial Services has 13 deals on record (3 debt financings, 3 funding rounds, 3 rights issues), with disclosed funding of ₹2,237.47 Cr; the latest was in July 2025.

Gaurav Maheshwari was appointed as Whole-Time Director on 27 Jan 2025. Ambika Bisla ceased to be Additional Director on 26 Jun 2023. Rohan Rakesh Suri ceased to be Additional Director on 26 Jun 2023. Incred Financial Services has 30 board changes on record in total.

Incred Financial Services has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 4 overdue payments to 4 micro and small suppliers. The latest return was filed on 30 Apr 2022.

Incred Financial Services can be reached through the website incred.com. Its registered office is in Mumbai, Maharashtra, India.