MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-TN-02-0100197
XBP Asia IT Solutions Private Limited
XBP Asia IT Solutions Private Limited - business outsourcing in Chennai, Tamil Nadu, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹329.78 Cr
▲ 13% YoY
Net profit · FY 2025
₹31.54 Cr
Net margin 9.6%
EBITDA · FY 2025
₹52.55 Cr
EBITDA margin 15.9%
Authorised capital
₹3.05 Cr
Registered with MCA
Paid-up capital
₹2.02 Cr
Issued & subscribed
Open charges
₹29 Cr
Satisfied ₹66.64 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
4,007
Provident fund records
About XBP Asia IT Solutions Private Limited
Data last updated:
XBP Asia IT Solutions Private Limited is a private limited company based in Chennai, Tamil Nadu, India, a subsidiary of Hov Services Inc. It operates in the business process outsourcing sector. It was incorporated on 05 May 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U72300TN1993PTC088604. Its GSTIN is 33AABCV3563H1ZF (Tamil Nadu). The company holds 4 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹3.05 Cr and a paid-up capital of ₹2.02 Cr. It was formerly known as Lason India Limited and Lason India Privte Limited. It is led by directors Balbirsingh Gurmukhsingh Batra and Ajay Surana.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at No: 106 – 109 Mount Road Guindy, Chennai, Tamil Nadu, India – 600032.
As per the financials filed for FY 2025, the company reported a revenue of ₹329.78 Cr, a growth of 13% compared to the previous year. For the same year it recorded a net profit of ₹31.54 Cr (net margin 9.6%) and EBITDA of ₹52.55 Cr (EBITDA margin 15.9%). Revenue has grown at a compounded annual rate (CAGR) of 12% over three years and 6% over five years.
The company has about 4,007 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: SourceHOV. As per MCA filings, the company has open charges of ₹29 Cr and satisfied charges of ₹66.64 Cr on record. Court records list 34 cases involving the company, including 19 filed by the company and 15 filed against it; 4 cases are pending. The company has 1 deal on record (1 secondary share transfer); the latest was in March 2014. The company has 16 MSME Form 1 returns on record between 2019 and 2024, listing 366 overdue payments to 35 micro and small suppliers.
XBP Asia IT Solutions Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-TN-02-0100197). The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN U72300TN1993PTC088604
Registration Number 088604
Incorporation Date 05 May 1993
ROC Chennai
Listing Status Unlisted
Company Status Active
Date of Last AGM 26 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Hov Services Inc
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-TN-02-0100197
Name history
XBP Asia IT Solutions has undergone 6 name changes throughout its history. The current legal name is Xbp Asia It Solutions Private Limited.
| Company Name | Status |
|---|---|
| XBP Asia IT Solutions Private Limited | Current |
| Lason India Limited | Previous |
| Lason India Privte Limited | Previous |
| Vetri Software India Private Limited | Previous |
| Lason India Private Limited | Previous |
| Vetri Software India Limited | Previous |
CIN history
XBP Asia IT Solutions has one previous CIN (Corporate Identification Number): U72300PN1993PTC130595. The current CIN is U72300TN1993PTC088604, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72300TN1993PTC088604 | Current |
| U72300PN1993PTC130595 | Previous |
Recognitions & Rankings of XBP Asia IT Solutions
Contact details
XBP Asia IT Solutions Private Limited's registered office is in Chennai, Tamil Nadu. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressNo: 106 – 109 Mount Road Guindy, Chennai, Tamil Nadu, India – 600032
- IndustryBusiness Outsourcing, Business Process Outsourcing
To see the full contact details of XBP Asia IT Solutions Private Limited, buy the company report.
Comprehensive company report
XBP Asia IT Solutions 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
XBP Asia IT Solutions operates one associated brand: SourceHOV. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Software solutions for banks and financial institutions are offered. | sourcehov.com |
Business activity
The main business activity of XBP Asia IT Solutions is information and communication. In detail, this covers data processing, hosting and related activities; web portal.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J7 | Data processing, hosting and related activities; web portal |
To see the full business activity and turnover split of XBP Asia IT Solutions Private Limited, buy the company report.
Financials of XBP Asia IT Solutions Private Limited
FY 2025 filings availableXBP Asia IT Solutions Private Limited reported revenue of ₹329.78 Cr (up 13% YoY) for FY 2025.
Revenue · FY 2025
₹329.78 Cr ▲ 13%
Net profit · FY 2025
₹31.54 Cr margin 9.6%
EBITDA · FY 2025
₹52.55 Cr margin 15.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 13%
3 years · compounded
▲ 12%
5 years · compounded
▲ 6%
EBITDA CAGR growth
1 year
▲ 12%
3 years · compounded
▲ 7%
5 years · compounded
▲ 2%
Revenue has grown at a compounded annual rate (CAGR) of 6% over five years, including 13% growth in the latest year. EBITDA rose 12% 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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| EBITDA | ₹52.55 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | ₹31.54 Cr | ||||
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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 | 15.9% | ||||
| Net Profit Margin | 9.6% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of XBP Asia IT Solutions Private Limited, buy the company report.
Board of directors of XBP Asia IT Solutions Private Limited
XBP Asia IT Solutions has 2 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Balbirsingh Gurmukhsingh Batra Also directs: Hov Energy Private Limited, Ourbello E-Commerce Private Limited, Exela Technologies India Private Limited and 3 more | Director | 02 Jan 2015 | 11 Years 9 Months | Current |
| Ajay Surana Also directs: Hov Energy Private Limited, Banctec India Private Limited, Rule 14 India Private Limited and 1 more | Director | 01 Mar 2019 | 7 Years 7 Months | Current |
Auditor
XBP Asia IT Solutions Private Limited is audited by B S R & ASSOCIATES LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & ASSOCIATES LLP | FY 2022 | 116231W/W-100024 |
Shareholding
The shareholding of XBP Asia IT Solutions Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | 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 XBP Asia IT Solutions Private Limited, buy the company report.
Charges & borrowings
Open charges
₹29 Cr
Satisfied charges
₹66.64 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 06 Jan 2016 | 10616811 | Idbi Bank Limited | ₹23 Cr | Open | |
| 11 Apr 1996 | 90288882 | Industrial Development Bank of India | ₹3.65 Cr | Open | |
| 24 Jan 1996 | 90287403 | The Dhanalakshmi Bank Limited | ₹1 Cr | Open | |
| 16 Dec 1993 | 90290061 | Bank of India | ₹45 Lakh | Open | |
| 16 Dec 1993 | 90288840 | Bank of India | ₹45 Lakh | Open |
To see the full charge records of XBP Asia IT Solutions Private Limited, buy the company report.
Total charge records: 10 View all charges
Deals & funding
XBP Asia IT Solutions Private Limited has 1 deal on record (1 secondary share transfer); the latest was in March 2014.
Total deals
1
Secondary share transfer
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: Hov Services Inc Seller: Lason Systems Inc |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
XBP Asia IT Solutions Private Limited has 34 court cases on record: 19 filed by XBP Asia IT Solutions, 15 filed against it. 4 cases are pending and 30 are disposed.
Total cases
34
Filed by the company
19
Filed against the company
15
Pending
4
Disposed
30
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 12 | 4 |
| District courts | 7 | 3 | 0 |
Cases on record (5 of 34)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TAMIL NADU | Company petition | Filed against the company by Vetri Software India Pvt Ltd | Disposed |
| High Court, TAMIL NADU | Court case (COMP.A) | Filed against the company by Vetri Software India Pvt Ltd | Disposed |
| High Court, TAMIL NADU | Writ petition | Filed by the company against The Deputy Commissioner of Income Tax and 1 other | Pending |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed by the company against The Deputy Commissioner of Income Tax and 1 other | Pending |
| High Court, TAMIL NADU | Court case (TCA) | Filed against the company by Commissioner of Income Tax | Pending |
To see the full case history of XBP Asia IT Solutions 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.
Credit ratings & regulatory alerts
XBP Asia IT Solutions Private Limited was last rated by Care on 07 Dec 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Dec 2020 |
To see the full credit ratings and regulatory alerts of XBP Asia IT Solutions Private Limited, buy the company report.
MSME payment delays
XBP Asia IT Solutions Private Limited has 16 MSME Form 1 returns on record between 2019 and 2024, listing 366 overdue payments to 35 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 35)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Integrated Facility Management | |||
| an individual supplier | |||
| Imatrix Technologies Private Limited | |||
| an individual supplier | |||
| Sigma Outsourcing Services Private Limited |
To see the full MSME payment records of XBP Asia IT Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
XBP Asia IT Solutions Private Limited has a workforce of 4,007 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
Employee count
4,007
Active EPFO establishments
1
Employee growth
-0.64%
GST
XBP Asia IT Solutions has 4 GST registrations: 2 active and 2 cancelled or inactive.
Total GSTINs
4
Active
2
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AABCV3563H1ZF | Tamil Nadu | Active | 01 Jul 2017 |
| 33AABCV3563H2ZE | Tamil Nadu | Active | 27 Jul 2017 |
To see the full GST registrations and return filing status of XBP Asia IT Solutions Private Limited, buy the company report.
Recent activity
XBP Asia IT Solutions Private Limited has 12 board changes on record since 2007: 2 appointments and 10 cessations. The latest: Ajay Surana ceased to be Additional Director on 27 Sep 2019.
AGM
Xbp Asia It Solutions Private Limited last Annual general meeting of members was held on 26 Sep 2025 as per latest MCA records.
Filing
Xbp Asia It Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Chennai.
Charges
A charge registered on 27 Aug 2020 via Charge ID 100387446 with Idbi Bank Limited was fully satisfied on 24 Mar 2025.
Charges
A charge with Idbi Bank Limited of Rs. 23.00 Cr registered on 06 Jan 2016 with Charge ID 10616811 was modified on 18 Mar 2025.
Charges
A charge registered on 15 Feb 2018 via Charge ID 100168595 with Idbi Bank Limited was fully satisfied on 02 Jun 2022.
Charges
A charge with Idbi Bank Limited of Rs. 2.73 Cr registered on 15 Feb 2018 with Charge ID 100168595 was modified on 23 Nov 2020.
Charges
A charge with Idbi Bank Limited amounted to Rs. 3.91 Cr with Charge ID 100387446 was registered on 27 Aug 2020.
Ceased
Ajay Surana ceased to be Additional Director.
Ceased
Venkatesh Adukkambarai Doraiswamy ceased to be Director.
Appointed
Ajay Surana was appointed as Director.
Ceased
Ramachandran Vijayakumar ceased to be Company Secretary.
Charges
A charge with Idbi Bank Limited amounted to Rs. 2.73 Cr with Charge ID 100168595 was registered on 15 Feb 2018.
22 earlier events are in the company report.
Frequently asked questions
XBP Asia IT Solutions is an active private limited company based in Chennai, Tamil Nadu, India. The company works in business process outsourcing, within the business outsourcing industry. It was incorporated on 05 May 1993 (33+ years old) and is registered under CIN U72300TN1993PTC088604.
XBP Asia IT Solutions has 2 current directors:
- Balbirsingh Gurmukhsingh Batra - Director
- Ajay Surana - Director
The latest financial statements of XBP Asia IT Solutions on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of XBP Asia IT Solutions is 33AABCV3563H1ZF, registered in Tamil Nadu. The company has 4 GST registrations in all, of which 2 are active and 2 are cancelled or inactive. Other active GSTINs include 33AABCV3563H2ZE (Tamil Nadu).
The CIN (Corporate Identification Number) of XBP Asia IT Solutions is U72300TN1993PTC088604. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
XBP Asia IT Solutions has 34 court cases on record: 19 filed by the company and 15 filed against it. 4 are pending. Most are in the high courts.
XBP Asia IT Solutions was incorporated on 05 May 1993, making it 33+ years old. It is registered with the Registrar of Companies, Chennai.
XBP Asia IT Solutions has 1 deal on record (1 secondary share transfer); the latest was in March 2014.
Ajay Surana ceased to be Additional Director on 27 Sep 2019. Venkatesh Adukkambarai Doraiswamy ceased to be Director on 15 Mar 2019. Ajay Surana was appointed as Director on 01 Mar 2019. XBP Asia IT Solutions has 12 board changes on record in total.
Yes, XBP Asia IT Solutions is registered as a medium enterprise under Udyam registration (number: UDYAM-TN-02-0100197).
XBP Asia IT Solutions has 16 MSME Form 1 returns on record between 2019 and 2024, listing 366 overdue payments to 35 micro and small suppliers. The latest return was filed on 22 Apr 2024.