India's Richest People 2026 edition · 1 director · Source: Hurun India
- #492 Bhupinder Singh ₹7,100 Cr
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
₹15,976 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 Gaurav Maheshwari (Whole-Time Director) and Bhupinder Singh (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 ₹15,976 Cr and satisfied charges of ₹4,902.37 Cr on record. Court records list 9,085 cases involving the company, including 8,767 filed by the company and 318 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 of Incred Financial Services Limited
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 Name | Status |
|---|---|
| Incred Financial Services Limited | Current |
| Kkr India Financial Services Limited | Previous |
| Kkr India Financial Services Private Limited | Previous |
| Multiflow Financial Services Private Limited | Previous |
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.
| CIN | Status |
|---|---|
| U67190MH1995PLC360817 | Current |
| U67190TN1995PTC030045 | Previous |
| U67190TN1995PLC030045 | Previous |
Key People
Gaurav Maheshwari Whole-Time Director Bhupinder Singh Whole-Time Director Vivekanand Suryaprakash Periayapatnam Director Recognitions & Rankings of Incred Financial Services
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressUnit No. 1203 12th Floor B Wing The Capital Plot No. C – 70 G Block BKC, Mumbai, Maharashtra, India – 400051
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
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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Associated Brands
Incred Financial Services operates two associated brands: InCred and InstaPaisa. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Financial services are provided, specializing in personal and business loans. | incred.com | |
| B2C marketplace for personal loans | instapaisa.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 Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K5 | Financial and Credit leasing activities | Locked |
Premium access
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Financials of Incred Financial Services Limited
FY 2025 filings availableIncred 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
| Metrics | FY 2025-26 | FY 2021-22 to FY 2024-25in the company report |
|---|---|---|
| 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
| Metrics | FY 2025-26 | FY 2021-22 to FY 2024-25in the company report |
|---|---|---|
| Profitability | ||
| EBITDA Margin | 59.9% | |
| Net Profit Margin | 17.1% | |
| 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 | •••• | |
Paid data: the figures shown as dots, and every line for FY 2021-22 to FY 2024-25, 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 Incred Financial Services are in the company report.
: available in 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
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vivekanand Suryaprakash Periayapatnam | Director | 26 Jul 2022 | 4 Years 2 Months | Current |
| Sankaran Nair Rajagopal | Director | 30 Mar 2023 | 3 Years 6 Months | Current |
| Rupa Rajul Vora | Director | 26 Jul 2022 | 4 Years 2 Months | Current |
| Gaurav Maheshwari | Whole-Time Director | 27 Jan 2025 | 1 Years 8 Months | Current |
| Sunita Gupta | Director | 30 Mar 2023 | 3 Years 6 Months | Current |
| Sekar Karnam | Director | 26 Jul 2022 | 4 Years 2 Months | Current |
Showing 6 of 7 current directors. View all directors
Auditor Details
Incred Financial Services Limited is audited by DeloitteHaskins&Sells LLP for the financial year 2018.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| DeloitteHaskins&Sells LLP | Locked | Locked | Locked |
: available in the company report
Ownership and Shareholding
: available in the company report
Charges & Borrowings
Open charges
₹15,976 Cr
Satisfied charges
₹4,902.37 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 06 Aug 2026 | Others | ₹40 Cr | Open |
| 31 Jul 2026 | Others | ₹20 Cr | Open |
| 20 Jul 2026 | Others | ₹100 Cr | Open |
| 14 Jul 2026 | Others | ₹100.68 Cr | Open |
| 23 Jun 2026 | Others | ₹38.44 Cr | Open |
Total charge records: 88 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)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2024 | Debt financing | ₹520 Cr | Investors: Dream Capital, Incred Wealth and Investment Services Private Limited , Neo Asset Management Private Limited |
| Dec 2023 | Rights issue | ₹500 Cr | Investors: Incred Holdings Limited |
| Nov 2017 | Rights issue | ₹640.34 Cr | Investors: Incred Holdings Limited |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Incred Holdings Limited Seller: KKR India Private Equity |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Incred Holdings Limited & Krishnan Brahmadesham V Seller: Incred Holdings Limited |
: available in the company report
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases
Incred Financial Services Limited has 9,085 court cases on record: 8,767 filed by Incred Financial Services, 318 filed against it. 6,534 cases are pending and 2,551 are disposed.
Total cases
9,085
Filed by the company
8,767
Filed against the company
318
Pending
6,534
Disposed
2,551
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8,891 | 184 | 6,482 |
| High courts | 117 | 79 | 23 |
| NCLAT | 48 | 33 | 24 |
| NCLT | 18 | 11 | 1 |
| Supreme Court | 11 | 11 | 4 |
Cases on record (5 of 9,085)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by M/S. Kdra Insolvency Professionals Private Limited (Earlier Knows As Kanchansobha Debt Resolution Advisors Pvt Ltd) and 1 other | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by M/S. Kdra Insolvency Professionals Private Limited (Earlier Knows As Kanchansobha Debt Resolution Advisors Pvt Ltd) and 1 other | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against 1. Taski Technologies Private Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against Curestay Services Private Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against Prakriti E-Mobility Private Limited | Pending |
: available in 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
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)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Os3 Infotech Private Limited | •••• | •••• | •••• |
| MGB Advisors Private Limited | •••• | •••• | •••• |
| National E- Governance Services Limited | •••• | •••• | •••• |
| M/S. K A Pandit | •••• | •••• | •••• |
: available in the company report
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance
Incred Financial Services Limited has a workforce of 1,749 employees as of Dec 18, 2024.
Employee count
1,749
Active EPFO establishments
2
Employee growth
13.2%
: available in the company report
Group Structure
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 Name | CIN | Shares Held |
|---|---|---|
| Incred Finserv Private Limited | U72900MH2016PTC273211 | Locked |
| Incred.Ai Limited | U74999MH2021PLC358271 | Locked |
Showing major subsidiaries. Total: 2.
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. 11,828.50 Cr registered on 28 Jan 2020 with Charge ID 100322600 was modified 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.
Charges
A charge with Others amounted to Rs. 25.20 Cr with Charge ID 101338098 was registered on 29 May 2026.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 101312416 was registered on 26 May 2026.
163 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
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
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM7774Q1ZM | Maharashtra | Active | 01 Jul 2017 |
| 07AAACM7774Q1ZO | Delhi | Active | 20 May 2022 |
| 29AAACM7774Q1ZI | Karnataka | Active | 24 May 2022 |
| 37AAACM7774Q1ZL | Andhra Pradesh | Active | 26 May 2022 |
: available in the company report
MCA Filings & Documents
: available in the company report
Related 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:
- Gaurav Maheshwari - Whole-Time Director
- Bhupinder Singh - Whole-Time Director
- Vivekanand Suryaprakash Periayapatnam - Director
- Sankaran Nair Rajagopal - Director
- Rupa Rajul Vora - Director
- Sunita Gupta - Director
- Sekar Karnam - Director
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 9,085 court cases on record: 8,767 filed by the company and 318 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.