About Innovation Imaging Technologies Private Limited
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Innovation Imaging Technologies Private Limited was a private limited company based in Bangalore, Karnataka, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the preventive healthcare segment of the healthcare sector. It was incorporated on 23 March 2016.
The company was registered with the Registrar of Companies (ROC), Bangalore, under CIN U33110KA2016PTC087188. Its GSTIN is 29AAECI1049N1Z8 (Karnataka). The company held 3 GST registrations, all of them active.
The company had an authorised share capital of ₹11.69 Cr and a paid-up capital of ₹11.56 Cr. It was formerly known as Innvolution Imaging Technologies Private Limited and Inva Imaging Technologies Private Limited. It was led by directors including Gaurav Agarwal (Managing Director) and Ashvini Suthar.
Its last annual general meeting (AGM) was held on 23 December 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹194.54 Cr, a growth of 32% compared to the previous year. For the same year it recorded a net loss of ₹8.58 Cr (net margin -4.4%) and EBITDA of -₹3.22 Cr (EBITDA margin -1.7%). Revenue has grown at a compounded annual rate (CAGR) of 72% over three years and 59% over five years.
The company had about 248 employees on its provident fund (EPFO) records before it was dissolved.
As per MCA filings, the company had open charges of ₹11 Cr and satisfied charges of ₹5 Cr on record. Court records list 5 cases involving the company, including 5 filed by the company; 2 cases are pending. The company has 7 deals on record (4 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹5.19 Cr; the latest was in January 2022. Its 3 peer companies in the Healthcare industry (Medical and Laboratory Equipment, Preventive Healthcare Services), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities) are compared by revenue, 1 larger and 2 smaller; the largest is Skanray Technologies Limited with revenue of ₹213.3 Cr. The company has 18 MSME Form 1 returns on record between 2019 and 2024, listing 830 overdue payments to 26 micro and small suppliers.
The last known website on record is innvolution.com.
Company details
Name history
Innovation Imaging Technologies has undergone 3 name changes throughout its history. The company was previously known as Innvolution Imaging Technologies Private Limited, Inva Imaging Technologies Private Limited, and Iva Imaging Technologies Private Limited. The current legal name is Innovation Imaging Technologies Private Limited.
| Company Name | Status |
|---|---|
| Innovation Imaging Technologies Private Limited | Current |
| Innvolution Imaging Technologies Private Limited | Previous |
| Inva Imaging Technologies Private Limited | Previous |
| Iva Imaging Technologies Private Limited | Previous |
Contact details
Innovation Imaging Technologies Private Limited's registered office is in Bangalore, Karnataka. Its website is innvolution.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressPlot No.143 – A1 Bommasandra Industrial Area, Hebbagodi Village Attibele Hobli Anekal Taluk, Bangalore, Karnataka, India – 560099
- IndustryHealthcare, Preventive Health Services, Medical & Laboratory Equipment
To see the full contact details of Innovation Imaging Technologies 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 Innovation Imaging Technologies is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of Innovation Imaging Technologies Private Limited, buy the company report.
Financials of Innovation Imaging Technologies Private Limited
FY 2024 filings availableInnovation Imaging Technologies Private Limited reported revenue of ₹194.54 Cr (up 32% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 59% over five years, including 32% growth in the latest year. EBITDA fell 121% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | -₹3.22 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹8.58 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -1.7% | ||||
| Net Profit Margin | -4.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| 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 Innovation Imaging Technologies Private Limited, buy the company report.
Board of directors of Innovation Imaging Technologies Private Limited
Innovation Imaging Technologies has 5 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashvini Suthar Also directs: Innvolution Healthcare Private Limited, Innvolution Healthcare Private Limited, Bijat Ventures LLP and 1 more | Director | 05 Sep 2017 | 9 Years 2 Months | As last reported |
| Sunny Sharma Also directs: Innvolution Healthcare Private Limited, Marksans Pharma Limited, Advanced Enzyme Technologies Limited and 5 more | Nominee Director | 07 Jul 2023 | 3 Years 4 Months | As last reported |
| Naresh Vashdev Alreja | Director | 23 Mar 2016 | 10 Years 7 Months | As last reported |
| Ankesh Bhansali | Nominee Director | 07 Jul 2023 | 3 Years 4 Months | As last reported |
| Gaurav Agarwal Also directs: Innvolution Healthcare Private Limited, Innvolution Healthcare Private Limited, Bijat Ventures LLP and 2 more | Managing Director | 23 Mar 2016 | 10 Years 7 Months | As last reported |
Peer comparison
Innovation Imaging Technologies Private Limited is compared with the 3 companies closest to it by revenue in the Healthcare industry (Medical and Laboratory Equipment, Preventive Healthcare Services), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Skanray Technologies Limited | ₹213.3 Cr (FY 2025) | -22.0% | Mysore, Karnataka, India | |||
| Innovation Imaging Technologies Private Limitedthis company | ₹194.54 Cr (FY 2024) | -₹8.58 Cr | -4.4% | 32.0% | 248 | Bangalore, Karnataka, India |
| G.S.T.Corporation Limited | ₹189.42 Cr (FY 2025) | 8.0% | New Delhi, Delhi, India | |||
| Opto Circuits (India) Limited | ₹185.96 Cr (FY 2020) | -28.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Innovation Imaging Technologies Private Limited, buy the company report.
Auditor
Innovation Imaging Technologies Private Limited is audited by S.G.SALECHA & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.G.SALECHA & Co | FY 2023 | 108986W |
Shareholding
The shareholding of Innovation Imaging Technologies 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 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Innovation Imaging Technologies Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Feb 2022 | 100551521 | Others | ₹5 Cr | Satisfied |
To see the full charge records of Innovation Imaging Technologies Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Innovation Imaging Technologies Private Limited has 7 deals on record (4 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹5.19 Cr; the latest was in January 2022.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2022 | Funding round | ₹1.6 Cr | Investors: 4 individuals |
| Aug 2018 | Rights issue | ₹9.88 Cr | Investors: Innvolution Holding Corporation, V.J. Imaging Technologies Private Limited , 2 individuals |
| Dec 2017 | Funding round | ₹50 Lakh | Investors: 4 individuals |
| Nov 2017 | Secondary share transfer | Undisclosed | Buyer: Innvolution Holding Corporation Seller: VJTI LLC, an individual |
| Jul 2017 | Funding round | ₹1.97 Cr | Investors: Innvolution Holding Corporation |
To see the full deal history of Innovation Imaging Technologies Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Innovation Imaging Technologies Private Limited has 5 court cases on record: 5 filed by Innovation Imaging Technologies. 2 cases are pending and 3 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 0 | 2 |
| NCLT | 1 | 0 | 0 |
Cases on record (3 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Metro Phoenix Hospitals Pvt Ltd and Others | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Metro Phoenix Hospitals Pvt Ltd and Others | Disposed |
| NCLT, Bengaluru | Court case (C.A.(CAA)) | Filed by the company | Disposed |
To see the full case history of Innovation Imaging Technologies 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
Innovation Imaging Technologies Private Limited has 18 MSME Form 1 returns on record between 2019 and 2024, listing 830 overdue payments to 26 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 26)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| VBG Engineering | |||
| Ace Multi Axes Systems Limited | |||
| an individual supplier | |||
| Innvolution Healthcare Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Innovation Imaging Technologies Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Innovation Imaging Technologies Private Limited has a workforce of 248 employees on its EPFO records as of May 2025, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2025-26 | 248 |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Innovation Imaging Technologies Private Limited, buy the company report.
GST
Innovation Imaging Technologies has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECI1049N1Z8 | Karnataka | Active | 01 Jul 2017 |
| 27AAECI1049N1ZC | Maharashtra | Active | 05 Jan 2019 |
| 37AAECI1049N1ZB | Andhra Pradesh | Active | 28 Jun 2023 |
To see the full GST registrations and return filing status of Innovation Imaging Technologies Private Limited, buy the company report.
Recent activity
Innovation Imaging Technologies Private Limited has 11 board changes on record since 2016: 5 appointments and 6 cessations. The latest: Ankesh Bhansali was appointed as Nominee Director on 07 Jul 2023.
4 earlier events are in the company report.
Frequently asked questions
Innovation Imaging Technologies has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Innovation Imaging Technologies was a private limited company based in Bangalore, Karnataka, India. The company worked in preventive health services, within the healthcare industry. It was incorporated on 23 March 2016 and is registered under CIN U33110KA2016PTC087188. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Innovation Imaging Technologies was incorporated on 23 March 2016. It is registered with the Registrar of Companies, Bangalore.
Innovation Imaging Technologies had 5 directors:
- Gaurav Agarwal - Managing Director
- Ashvini Suthar - Director
- Sunny Sharma - Nominee Director
- Naresh Vashdev Alreja - Director
- Ankesh Bhansali - Nominee Director
The CIN (Corporate Identification Number) of Innovation Imaging Technologies is U33110KA2016PTC087188. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Innovation Imaging Technologies is at Plot No.143 – A1 Bommasandra Industrial Area, Hebbagodi Village Attibele Hobli Anekal Taluk, Bangalore, Karnataka, India – 560099.
Innovation Imaging Technologies can be reached through the website innvolution.com. Its registered office is in Bangalore, Karnataka, India.
The latest financial statements of Innovation Imaging Technologies on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 23 December 2024. Year-wise statements from FY 2016 are in the company report.
The GSTIN of Innovation Imaging Technologies is 29AAECI1049N1Z8, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 27AAECI1049N1ZC (Maharashtra), 37AAECI1049N1ZB (Andhra Pradesh).
Innovation Imaging Technologies operated in the healthcare industry, in the preventive health services segment.
Innovation Imaging Technologies has 7 deals on record (4 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹5.19 Cr; the latest was in January 2022.
The peers of Innovation Imaging Technologies by revenue are Skanray Technologies Limited, G.S.T.Corporation Limited, Opto Circuits (India) Limited, all in the Healthcare industry (Medical and Laboratory Equipment, Preventive Healthcare Services), with the same principal business activity (other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities).
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