MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0057388
Kushal's Retail Private Limited - e-commerce in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹330.16 Cr
▲ 26% YoY
Net profit · FY 2025
₹17.91 Cr
Net margin 5.4%
EBITDA · FY 2025
₹76.54 Cr
EBITDA margin 23.2%
Authorised capital
₹3 Cr
Registered with MCA
Paid-up capital
₹2.52 Cr
Issued & subscribed
Open charges
₹45 Cr
Satisfied ₹8.94 Cr
Company age
7 yrs
Est. 2019
Employees · EPFO
887
Provident fund records
About Kushal's Retail Private Limited
Data last updated:
Kushal's Retail Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the online watches and jewelry retail segment of the e-commerce sector. It was incorporated on 18 February 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U52609KA2019PTC121527. Its GSTIN is 29AAHCK5046J1Z6 (Karnataka). The company holds 9 GST registrations, all of them active.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹2.52 Cr. It is led by directors including Vijay Dhanuka and Tejraj Gulecha.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 54/2 2nd Floor Above State Bank Of India Police Station Road Basavanagudi, Bangalore, Karnataka, India – 560004.
As per the financials filed for FY 2025, the company reported a revenue of ₹330.16 Cr, a growth of 26% compared to the previous year. For the same year it recorded a net profit of ₹17.91 Cr (net margin 5.4%) and EBITDA of ₹76.54 Cr (EBITDA margin 23.2%). Revenue has grown at a compounded annual rate (CAGR) of 51% over three years and 31% over five years.
The company has about 887 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹45 Cr and satisfied charges of ₹8.94 Cr on record. The company has 11 deals on record (5 secondary share transfers, 3 funding rounds, 2 rights issues), with disclosed funding of ₹255.02 Cr; the latest was in May 2024. Its 4 peer companies in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading) are compared by revenue, 1 larger and 3 smaller; the largest is Puniska Industries Private Limited with revenue of ₹334.24 Cr. The company has 8 MSME Form 1 returns on record between 2019 and 2023, listing 154 overdue payments to 8 micro and small suppliers.
Kushal's Retail Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0057388). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website kushals.com.
Company details
CIN U52609KA2019PTC121527
Registration Number 121527
Incorporation Date 18 February 2019
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0057388
Recognitions & Rankings of Kushal's Retail
Contact details
Kushal's Retail Private Limited's registered office is in Bangalore, Karnataka. Its website is kushals.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address54/2 2nd Floor Above State Bank Of India Police Station Road Basavanagudi, Bangalore, Karnataka, India – 560004
- IndustryE-Commerce, Online Watches & Jewelry Retail
To see the full contact details of Kushal's Retail Private Limited, buy the company report.
Comprehensive company report
Kushal's Retail Private 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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Business activity
The main business activity of Kushal's Retail is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Kushal's Retail Private Limited, buy the company report.
Financials of Kushal's Retail Private Limited
FY 2025 filings availableKushal's Retail Private Limited reported revenue of ₹330.16 Cr (up 26% YoY) for FY 2025.
Revenue · FY 2025
₹330.16 Cr ▲ 26%
Net profit · FY 2025
₹17.91 Cr margin 5.4%
EBITDA · FY 2025
₹76.54 Cr margin 23.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 26%
3 years · compounded
▲ 51%
5 years · compounded
▲ 31%
EBITDA CAGR growth
1 year
▲ 111%
3 years · compounded
▲ 121%
5 years · compounded
▲ 40%
Revenue has grown at a compounded annual rate (CAGR) of 31% over five years, including 26% growth in the latest year. EBITDA rose 111% 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 |
|---|---|---|---|---|---|
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| Revenue from Operations | |||||
| Other Income | |||||
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| Total Expenses | |||||
| EBITDA | ₹76.54 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹17.91 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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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 | 23.2% | ||||
| Net Profit Margin | 5.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Kushal's Retail Private Limited, buy the company report.
Board of directors of Kushal's Retail Private Limited
Kushal's Retail has 6 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vijay Dhanuka Also directs: Archian Foods India Private Limited, Lal Sweets Private Limited, Archian Foods Private Limited and 5 more | Director | 21 May 2022 | 4 Years 5 Months | Current |
| Tejraj Gulecha | Director | 18 Feb 2019 | 7 Years 8 Months | Current |
| Kalpesh Gulechha Also directs: Anera Lifestyle Private Limited | Director | 18 Feb 2019 | 7 Years 8 Months | Current |
| Nandish Gulechha Also directs: Anera Lifestyle Private Limited | Director | 18 Feb 2019 | 7 Years 8 Months | Current |
| Mitin Chandanmal Jain | Director | 13 May 2019 | 7 Years 5 Months | Current |
| Gulechaa Rajendrakumar Ankit Also directs: Snapooh Media Private Limited | Director | 18 Feb 2019 | 7 Years 8 Months | Current |
Peer comparison
Kushal's Retail Private Limited is compared with the 4 companies closest to it by revenue in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Puniska Industries Private Limited | ₹334.24 Cr (FY 2025) | 43.0% | Ahmedabad, Gujarat, India | |||
| Kushal's Retail Private Limitedthis company | ₹330.16 Cr (FY 2025) | ₹17.91 Cr | 5.4% | 26.0% | 887 | Bangalore, Karnataka, India |
| Malabar Creations Private Limited | ₹324.73 Cr (FY 2025) | 14.0% | Kozhikode, Kerala, India | |||
| Vasundhara Diamond Roof Private Limited | ₹322.17 Cr (FY 2025) | -9.0% | Hyderabad, Telangana, India | |||
| Malabar Dazzle India Private Limited | ₹316.5 Cr (FY 2025) | 17.0% | Kozhikode, Kerala, India |
To see the full peer comparison of Kushal's Retail Private Limited, buy the company report.
Auditor
Kushal's Retail Private Limited is audited by Singhi & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Singhi & Co. | FY 2023 | 302049E |
Shareholding
The shareholding of Kushal's Retail Private Limited is on record for 4 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 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Kushal's Retail Private Limited, buy the company report.
Charges & borrowings
Open charges
₹45 Cr
Satisfied charges
₹8.94 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Oct 2025 | 101174357 | Others | ₹20 Cr | Open | |
| 29 Nov 2022 | 100666012 | Hdfc Bank Limited | ₹25 Cr | Open | |
| 18 Jul 2019 | 100277243 | Axis Bank Limited | ₹5.94 Cr | Satisfied | |
| 27 Jun 2019 | 100272651 | Axis Bank Limited | ₹3 Cr | Satisfied |
To see the full charge records of Kushal's Retail Private Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Kushal's Retail Private Limited has 11 deals on record (5 secondary share transfers, 3 funding rounds, 2 rights issues), with disclosed funding of ₹255.02 Cr; the latest was in May 2024.
Total deals
11
Secondary share transfers
5
Funding rounds
3
Rights issues
2
Convertible or debt financing
1
Disclosed funding
₹255.02 Cr
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2024 | Secondary share transfer | Undisclosed | Buyer: Pratithi Growth Fund Seller: India SME Investments |
| Feb 2024 | Secondary share transfer | Undisclosed | Buyer: Lighthouse Fund Seller: India SME Investments |
| Feb 2024 | Funding round | ₹150 Cr | Investors: Lighthouse Fund |
| Jun 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Feb 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
To see the full deal history of Kushal's Retail 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
No court or tribunal cases involving Kushal's Retail Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Kushal's Retail Private Limited has 8 MSME Form 1 returns on record between 2019 and 2023, listing 154 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 |
|---|---|---|---|
| Zevraat Antiques LLP | |||
| an individual supplier | |||
| Saloni Fashion Jewellery | |||
| Ruhi Creation | |||
| an individual supplier |
To see the full MSME payment records of Kushal's Retail Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Kushal's Retail Private Limited has a workforce of 887 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
Employee count
887
Active EPFO establishments
1
Employee growth
32.98%
GST
Kushal's Retail has 9 GST registrations: 9 active. The first 4 active GSTINs are listed below.
Total GSTINs
9
Active
9
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAHCK5046J1Z6 | Karnataka | Active | 18 Feb 2019 |
| 32AAHCK5046J1ZJ | Kerala | Active | 18 Feb 2019 |
| 33AAHCK5046J1ZH | Tamil Nadu | Active | 18 Feb 2019 |
| 36AAHCK5046J1ZB | Telangana | Active | 18 Feb 2019 |
To see the full GST registrations and return filing status of Kushal's Retail Private Limited, buy the company report.
Recent activity
Kushal's Retail Private Limited has 13 board changes on record since 2019: 6 appointments and 7 cessations. The latest: Vijay Dhanuka was appointed as Director on 21 May 2022.
Charges
A charge with Hdfc Bank Limited of Rs. 25.00 Cr registered on 29 Nov 2022 with Charge ID 100666012 was modified on 14 Oct 2025.
Charges
A charge with Others amounted to Rs. 20.00 Cr with Charge ID 101174357 was registered on 13 Oct 2025.
AGM
Kushal'S Retail Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Kushal'S Retail Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 25.00 Cr with Charge ID 100666012 was registered on 29 Nov 2022.
Charges
A charge registered on 18 Jul 2019 via Charge ID 100277243 with Axis Bank Limited was fully satisfied on 18 Nov 2022.
Charges
A charge registered on 27 Jun 2019 via Charge ID 100272651 with Axis Bank Limited was fully satisfied on 04 Jul 2022.
Appointed
Vijay Dhanuka was appointed as Director.
Ceased
Radha Gulecha ceased to be Director.
Ceased
Rajendra Gulechha ceased to be Director.
Ceased
Sumermal Surajmal Gulecha ceased to be Director.
Ceased
Suraj Gulecha ceased to be Director.
12 earlier events are in the company report.
Frequently asked questions
Kushal's Retail is an active private limited company based in Bangalore, Karnataka, India. The company works in online watches and jewelry retail, within the e-commerce industry. It was incorporated on 18 February 2019 (7+ years old) and is registered under CIN U52609KA2019PTC121527.
Kushal's Retail has 6 current directors:
- Vijay Dhanuka - Director
- Tejraj Gulecha - Director
- Kalpesh Gulechha - Director
- Nandish Gulechha - Director
- Mitin Chandanmal Jain - Director
- Gulechaa Rajendrakumar Ankit - Director
The latest financial statements of Kushal's Retail on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2019 are in the company report.
The GSTIN of Kushal's Retail is 29AAHCK5046J1Z6, registered in Karnataka. The company has 9 GST registrations in all, of which 9 are active. Other active GSTINs include 32AAHCK5046J1ZJ (Kerala), 33AAHCK5046J1ZH (Tamil Nadu), 36AAHCK5046J1ZB (Telangana).
The CIN (Corporate Identification Number) of Kushal's Retail is U52609KA2019PTC121527. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Kushal's Retail was incorporated on 18 February 2019, making it 7+ years old. It is registered with the Registrar of Companies, Bangalore.
Kushal's Retail has 11 deals on record (5 secondary share transfers, 3 funding rounds, 2 rights issues), with disclosed funding of ₹255.02 Cr; the latest was in May 2024.
The peers of Kushal's Retail by revenue are Puniska Industries Private Limited, Malabar Creations Private Limited, Vasundhara Diamond Roof Private Limited, Malabar Dazzle India Private Limited, all in the Consumer Products industry (Jewellery and Gems Retail and Distribution), with the same principal business activity (retail trading).
Vijay Dhanuka was appointed as Director on 21 May 2022. Radha Gulecha ceased to be Director on 11 Apr 2022. Rajendra Gulechha ceased to be Director on 11 Apr 2022. Kushal's Retail has 13 board changes on record in total.
Yes, Kushal's Retail is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0057388).
Kushal's Retail has 8 MSME Form 1 returns on record between 2019 and 2023, listing 154 overdue payments to 8 micro and small suppliers. The latest return was filed on 21 Oct 2023.
Kushal's Retail can be reached through the website kushals.com. Its registered office is in Bangalore, Karnataka, India.