About Karvy Financial Services Limited
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Karvy Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Karvy Stock Broking Limited. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 18 October 2001 and has been in existence for over 25 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67190MH2001PLC227379. Its GSTIN is 27AACCK6354L1Z6 (Maharashtra). The company holds 16 GST registrations, of which 14 are active.
The company has an authorised share capital of ₹205 Cr and a paid-up capital of ₹78.25 Cr. It was formerly known as Criterion Finance Services P Ltd and Karvy Financial Services P Limited. It is led by directors including Mallikarjuna Venkateswara Uppaluri Babu and Mahesh Vijayagopal.
Its last annual general meeting (AGM) was held on 13 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹15.8 Cr, a decline of 59.32% compared to the previous year.
The company has about 17 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Karvy Finance. As per MCA filings, the company has satisfied charges of ₹2,818.74 Cr on record. Court records list 1,334 cases involving the company, including 1,122 filed by the company and 212 filed against it; 208 cases are pending. The company has 17 deals on record (11 funding rounds, 5 secondary share transfers, 1 acquisition), with disclosed funding of ₹330.01 Cr; the latest was in August 2017. Its 8 peer companies in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 5 smaller; the largest is Shree Capital Services Ltd. with revenue of ₹95.2 Cr. The company has 11 MSME Form 1 returns on record between 2020 and 2023, listing 34 overdue payments to 8 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 karvyfinance.com.
Company details
Name history
Karvy Financial Services has undergone 2 name changes throughout its history. The company was previously known as Criterion Finance Services P Ltd, and Karvy Financial Services P Limited. The current legal name is Karvy Financial Services Limited.
| Company Name | Status |
|---|---|
| Karvy Financial Services Limited | Current |
| Criterion Finance Services P Ltd | Previous |
| Karvy Financial Services P Limited | Previous |
CIN history
Karvy Financial Services has one previous CIN (Corporate Identification Number): U67190AP2001PLC037960. The current CIN is U67190MH2001PLC227379, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67190MH2001PLC227379 | Current |
| U67190AP2001PLC037960 | Previous |
Contact details
Karvy Financial Services Limited's registered office is in Mumbai, Maharashtra. Its website is karvyfinance.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address301 Gujrals House 167 Cst Road Opp Idbi Bank Kolivery Area Village Mmrda Kalina Sa, Ntacruz(E), Mumbai, Maharashtra, India – 400098
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of Karvy Financial Services 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
Brands
Karvy Financial Services operates one associated brand: Karvy Finance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides secured loans for MSMEs, currently valued at $79.1 million. | karvyfinance.com |
Business activity
Karvy Financial Services operates primarily in the financial and insurance service sector. One business activity is registered with the MCA.
| Main activity group | Business activity | Share of turnover |
|---|---|---|
| Financial and insurance Service | Other financial activities |
To see the full business activity and turnover split of Karvy Financial Services Limited, buy the company report.
Financials of Karvy Financial Services Limited
FY 2025 filings availableKarvy Financial Services Limited reported revenue of ₹15.8 Cr (down 59.32% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue fell 59.32% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
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| Total Revenue | ₹15.8 Cr | ||||
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Financial Ratios
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To see the full financial statements and ratios of Karvy Financial Services Limited, buy the company report.
Board of directors and KMP of Karvy Financial Services Limited
Karvy Financial Services Limited currently reports 3 directors and 1 key managerial person. 26 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mallikarjuna Venkateswara Uppaluri Babu | Director | 20 Jun 2025 | 1 Years 4 Months | Current |
| Mahesh Vijayagopal Also directs: Karvy Broking (Ifsc) Limited, Karvy Insurance Repository Limited, Karvy Next Limited and 4 more | Director | 17 Jul 2009 | 17 Years 3 Months | Current |
| Bhalchandra Vinayak Jadhav Also directs: Karvy Holdings Limited, Karvy Investment Advisory Services Limited, Pelican Wealth Advisory Services Private Limited and 1 more | Cfo | 21 Oct 2024 | 2 Years 0 Months | Current |
| Sashi Kumar Maranganti | Director | 27 Jun 2025 | 1 Years 3 Months | Current |
Peer comparison
Karvy Financial Services Limited is compared with the 8 companies closest to it by revenue in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important 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 |
|---|---|---|---|---|---|---|
| Shree Capital Services Ltd. | ₹95.2 Cr (FY 2019) | 27.0% | Kolkata, West Bengal, India | |||
| Julius Baer Capital (India) Private Limited | ₹94.89 Cr (FY 2018) | 21.0% | Mumbai, Maharashtra, India | |||
| Milky Investment and Trading Company | ₹94.75 Cr (FY 2019) | 134.0% | New Delhi, Delhi, India | |||
| Muthoot Mercantile Limited | ₹94.67 Cr (FY 2023) | 41.0% | Thiruvananthapuram, Kerala, India | |||
| Venus India Asset-Finance Private Limited | ₹94.6 Cr (FY 2022) | 60.0% | New Delhi, Delhi, India | |||
| Indel Money Limited | ₹94.49 Cr (FY 2021) | 50.0% | Mumbai, Maharashtra, India | |||
| RBS Credit and Financial Developments Pvt. Ltd. | ₹94.31 Cr (FY 2025) | 6620.0% | Kolkata, West Bengal, India | |||
| Best Finance Corporation Limited | ₹94.16 Cr (FY 2025) | 56.0% | Tirupur, Tamil Nadu, India | |||
| Karvy Financial Services Limitedthis company | ₹15.8 Cr (FY 2023) | -59.3% | 17 | Mumbai, Maharashtra, India |
To see the full peer comparison of Karvy Financial Services Limited, buy the company report.
Auditor
Karvy Financial Services Limited is audited by SSMS and Co for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SSMS and Co | FY 2019 | 014358S |
Shareholding
The shareholding of Karvy Financial Services 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 Karvy Financial Services Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Mar 2017 | 100086533 | Others | ₹100 Cr | Satisfied | |
| 17 Nov 2016 | 100065075 | Canara Bank | ₹75 Cr | Satisfied | |
| 15 Feb 2016 | 10621163 | Small Industries Development Bank of India | ₹50 Cr | Satisfied | |
| 29 Dec 2015 | 10609927 | Andhra Bank | ₹25 Cr | Satisfied | |
| 07 Dec 2015 | 10606664 | State Bank of India | ₹200 Cr | Satisfied |
To see the full charge records of Karvy Financial Services Limited, buy the company report.
Total charge records: 43 View all charges
Deals & funding
Karvy Financial Services Limited has 17 deals on record (11 funding rounds, 5 secondary share transfers, 1 acquisition), with disclosed funding of ₹330.01 Cr; the latest was in August 2017.
Deals on record (5 of 17)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2017 | Acquisition | ₹1,281.37 Cr | Buyer: SBFC Finance Limited Seller: Karvy Financial Services Limited |
| Dec 2016 | Secondary share transfer | Undisclosed | Buyer: Karvy Forex & Currencies Private Limited , Karvy Stock Broking Limited Seller: Karvy Comtrade Limited |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Karvy Realty (India) Limited Seller: Karvy Stock Broking Limited |
| Jan 2016 | Funding round | ₹25.01 Cr | Investors: Karvy Stock Broking Limited |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: Karvy Realty (India) Limited Seller: Karvy Holdings Limited |
To see the full deal history of Karvy 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.
Legal cases
Karvy Financial Services Limited has 1,334 court cases on record: 1,122 filed by Karvy Financial Services, 212 filed against it. 208 cases are pending and 1,126 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1,075 | 96 | 159 |
| High courts | 254 | 112 | 49 |
| Supreme Court | 4 | 4 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 1,334)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court for State of Telangana | Court case (CRLRC) | Filed by the company against HDFC Bank Limited and 1 other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (SW CASES W) | Filed against the company by Mennen Financial Services Ltd Authorized Representative Dinesh Menon | Pending |
| District court, Pune, Maharashtra | Criminal miscellaneous application | Filed by the company against Shivraj Ramkrishna Bhosale Exe Director Ms Sun Fruits Limited and 1 other | Disposed |
| District court, Pune, Maharashtra | Court case (Civil M.A.) | Filed against the company | Pending |
| High Court of Punjab and Haryana | Writ petition | Filed by the company against State of Punjab and Others | Pending |
To see the full case history of Karvy Financial Services 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.
Credit ratings & regulatory alerts
Karvy Financial Services Limited was last rated by Icra on 12 Oct 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 12 Oct 2021 |
To see the full credit ratings and regulatory alerts of Karvy Financial Services Limited, buy the company report.
MSME payment delays
Karvy Financial Services Limited has 11 MSME Form 1 returns on record between 2020 and 2023, listing 34 overdue payments to 8 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 8)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Aquilla Digital Private Limited | |||
| GS Associates | |||
| City Associates | |||
| Clearsharp Technology Private Limited | |||
| Karvy Forde Search Private Limited |
To see the full MSME payment records of Karvy Financial Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Karvy Financial Services Limited has a workforce of 17 employees on its EPFO records as of Apr 03, 2024, across 1 active EPFO establishment.
GST
Karvy Financial Services has 16 GST registrations: 14 active and 2 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCK6354L1Z6 | Maharashtra | Active | 01 Jul 2017 |
| 06AACCK6354L1ZA | Haryana | Active | 01 Jul 2017 |
| 09AACCK6354L1Z4 | Uttar Pradesh | Active | 01 Jul 2017 |
| 24AACCK6354L1ZC | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Karvy Financial Services Limited, buy the company report.
Recent activity
Karvy Financial Services Limited has 26 board changes on record since 2009: 4 appointments and 22 cessations. The latest: Mallikarjuna Venkateswara Uppaluri Babu ceased to be Additional Director on 12 Aug 2025.
113 earlier events are in the company report.
News
Frequently asked questions
Karvy 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 18 October 2001 (25+ years old) and is registered under CIN U67190MH2001PLC227379.
Karvy Financial Services has 4 current directors and KMP:
- Mallikarjuna Venkateswara Uppaluri Babu - Director
- Mahesh Vijayagopal - Director
- Sashi Kumar Maranganti - Director
- Bhalchandra Vinayak Jadhav - Cfo
The latest financial statements of Karvy Financial Services on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 13 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Karvy Financial Services is 27AACCK6354L1Z6, registered in Maharashtra. The company has 16 GST registrations in all, of which 14 are active and 2 are cancelled or inactive. Other active GSTINs include 06AACCK6354L1ZA (Haryana), 09AACCK6354L1Z4 (Uttar Pradesh), 24AACCK6354L1ZC (Gujarat).
The CIN (Corporate Identification Number) of Karvy Financial Services is U67190MH2001PLC227379. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Karvy Financial Services has 1,334 court cases on record: 1,122 filed by the company and 212 filed against it. 208 are pending. Most are in the district courts.
Karvy Financial Services was incorporated on 18 October 2001, making it 25+ years old. It is registered with the Registrar of Companies, Mumbai.
Karvy Financial Services has 17 deals on record (11 funding rounds, 5 secondary share transfers, 1 acquisition), with disclosed funding of ₹330.01 Cr; the latest was in August 2017.
The peers of Karvy Financial Services by revenue are Shree Capital Services Ltd, Julius Baer Capital (India) Private Limited, Milky Investment and Trading Company, Muthoot Mercantile Limited, Venus India Asset-Finance Private Limited and 3 more, all in the BFSI industry (Large NBFC, NBFC Investment and Credit Companies, Systemically Important Non Deposit NBFC), with the same principal business activity (other financial activities).
Mallikarjuna Venkateswara Uppaluri Babu ceased to be Additional Director on 12 Aug 2025. Sashi Kumar Maranganti ceased to be Additional Director on 12 Aug 2025. Sashi Kumar Maranganti was appointed as Director on 27 Jun 2025. Karvy Financial Services has 26 board changes on record in total.
Karvy Financial Services has 11 MSME Form 1 returns on record between 2020 and 2023, listing 34 overdue payments to 8 micro and small suppliers. The latest return was filed on 16 Nov 2023.
Karvy Financial Services can be reached through the website karvyfinance.com. Its registered office is in Mumbai, Maharashtra, India.