M C I (Mysore) Chits Private Limited
About M C I (Mysore) Chits Private Limited
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M C I (Mysore) Chits Private Limited is a private limited company based in Mysore, Karnataka, India. It operates in the microfinance institutions segment of the financial services sector. It was incorporated on 05 February 1991 and has been in existence for over 35 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA1991PTC011642. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹22.91 Lakh. It is led by directors including Prabhakar Shetty (Whole-Time Director) and Sachin Prabhakar Shetty.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 17 Apmc Shopping Complexsheshadri Iyer Road Mysore, Karnataka, India – 570021.
As per the financials filed for FY 2024, the company reported a revenue of ₹30.69 Lakh, a decline of 1% compared to the previous year. For the same year it recorded a net profit of ₹25,039 (net margin 0.8%) and EBITDA of ₹57,168 (EBITDA margin 1.9%). Revenue has grown at a compounded annual rate (CAGR) of 20% over three years and 8% over five years.
As per MCA filings, the company has satisfied charges of ₹20 Lakh on record. Court records list 11 cases involving the company, including 10 filed by the company and 1 filed against it.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
M C I (Mysore) Chits Private Limited's registered office is in Mysore, Karnataka. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered Address17 Apmc Shopping Complexsheshadri Iyer Road Mysore, Karnataka, India – 570021
- IndustryFinancial Services, Microfinance Institutions
To see the full contact details of M C I (Mysore) Chits 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 M C I (Mysore) Chits is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of M C I (Mysore) Chits Private Limited, buy the company report.
Financials of M C I (Mysore) Chits Private Limited
FY 2024 filings availableM C I (Mysore) Chits Private Limited reported revenue of ₹30.69 Lakh (down 1% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 1% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 8%. EBITDA fell 40% 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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| EBITDA | ₹57,168 | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹25,039 | ||||
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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 | 1.9% | ||||
| Net Profit Margin | 0.8% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of M C I (Mysore) Chits Private Limited, buy the company report.
Board of directors of M C I (Mysore) Chits Private Limited
M C I (Mysore) Chits has 4 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sachin Prabhakar Shetty Also directs: Mci Chits Limited, Mookambika Chits Limited | Director | 24 Aug 2015 | 11 Years 2 Months | Current |
| Sinchana Prabhakar Shetty Also directs: Mci Chits Limited, Mookambika Chits Limited | Director | 24 Aug 2015 | 11 Years 2 Months | Current |
| Noothan Prabhakar Shetty Also directs: Mci Chits Limited, Mookambika Chits Limited | Director | 24 Aug 2015 | 11 Years 2 Months | Current |
| Prabhakar Shetty Also directs: Mci Developers Private Limited, Mci Chits Limited, Mookambika Chits Limited and 1 more | Whole-Time Director | 01 Mar 1991 | 35 Years 8 Months | Current |
Peer comparison
M C I (Mysore) Chits Private Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Micro Finance), 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 |
|---|---|---|---|---|---|---|
| Amala Kuries Private Limited | ₹30.89 Lakh (FY 2025) | 17.0% | Kerala, India | |||
| Credittara India Nidhi Limited | ₹30.84 Lakh (FY 2025) | 12.0% | Patna, Bihar, India | |||
| Arcot Sri Mahaveer Nidhi Limited | ₹30.76 Lakh (FY 2025) | -1.0% | North Arcot Ambedkar, Tamil Nadu, India | |||
| M C I (Mysore) Chits Private Limitedthis company | ₹30.69 Lakh (FY 2024) | ₹25,039 | 0.8% | -1.0% | Mysore, Karnataka, India | |
| Shiv Krishna Microfinance Association | ₹30.52 Lakh (FY 2025) | 59.0% | Jaipur, Rajasthan, India | |||
| Punchiri Kuries Private Limited | ₹29.91 Lakh (FY 2025) | 29.0% | Thrissur, Kerala, India | |||
| TCFS Bachat Nidhi Limited | ₹29.85 Lakh (FY 2025) | -57.0% | Dausa, Rajasthan, India |
To see the full peer comparison of M C I (Mysore) Chits Private Limited, buy the company report.
Auditor
M C I (Mysore) Chits Private Limited is audited by G S Rao & Co for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| G S Rao & Co | FY 2022 | 018849 |
Shareholding
The shareholding of M C I (Mysore) Chits 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 M C I (Mysore) Chits Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 17 Oct 2005 | 80027626 | The Karur Vysya Bank Ltd | ₹20 Lakh | Satisfied |
To see the full charge records of M C I (Mysore) Chits Private Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
M C I (Mysore) Chits Private Limited has 11 court cases on record: 10 filed by M C I (Mysore) Chits, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 10 | 0 | 0 |
| High courts | 1 | 1 | 0 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, MYSURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, MYSURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, MYSURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, MYSURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, MYSURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
To see the full case history of M C I (Mysore) Chits 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
No delayed payments to MSME suppliers are on our record for M C I (Mysore) Chits Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
M C I (Mysore) Chits has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of M C I (Mysore) Chits Private Limited, buy the company report.
Recent activity
M C I (Mysore) Chits Private Limited has 11 board changes on record since 1991: 4 appointments and 7 cessations. The latest: Pushpalatha Hegde ceased to be Whole-Time Director on 29 Jun 2019.
5 earlier events are in the company report.
Frequently asked questions
M C I (Mysore) Chits is an active private limited company based in Mysore, Karnataka, India. The company works in microfinance institutions, within the financial services industry. It was incorporated on 05 February 1991 (35+ years old) and is registered under CIN U85110KA1991PTC011642.
M C I (Mysore) Chits has 4 current directors:
- Prabhakar Shetty - Whole-Time Director
- Sachin Prabhakar Shetty - Director
- Sinchana Prabhakar Shetty - Director
- Noothan Prabhakar Shetty - Director
The latest financial statements of M C I (Mysore) Chits on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
No. M C I (Mysore) Chits has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of M C I (Mysore) Chits is U85110KA1991PTC011642. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
M C I (Mysore) Chits has 11 court cases on record: 10 filed by the company and 1 filed against it. Most are in the district courts.
M C I (Mysore) Chits was incorporated on 05 February 1991, making it 35+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of M C I (Mysore) Chits by revenue are Amala Kuries Private Limited, Credittara India Nidhi Limited, Arcot Sri Mahaveer Nidhi Limited, Shiv Krishna Microfinance Association, Punchiri Kuries Private Limited and 1 more, all in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities).
Pushpalatha Hegde ceased to be Whole-Time Director on 29 Jun 2019. Bandrehalli Veeranna ceased to be Whole-Time Director on 30 Jan 2016. Kalastavadi Marigowda Rajashekar ceased to be Whole-Time Director on 30 Jan 2016. M C I (Mysore) Chits has 11 board changes on record in total.
The registered office of M C I (Mysore) Chits is at 17 Apmc Shopping Complexsheshadri Iyer Road Mysore, Karnataka, India – 570021.
M C I (Mysore) Chits operates in the financial services industry, in the microfinance institutions segment.
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