About M2p BSG Itsoft Private Limited
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M2p BSG Itsoft Private Limited is a private limited company based in Mumbai, Maharashtra, India, recognised as a startup by DPIIT. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 18 January 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72200MH2010PTC198979. Its GSTIN is 27AADCB9764C1ZL (Maharashtra).
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹6.11 Lakh. It was formerly known as Bsg Itsoft Private Limited. It is led by directors including Rangarajan Madhusudanan and Muthukumar Ayyakkannu.
Its last annual general meeting (AGM) was held on 29 September 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 2025, the company reported a revenue of ₹43.49 Cr, a decline of 8% compared to the previous year. For the same year it recorded a net loss of ₹21.92 Lakh (net margin -0.5%) and EBITDA of ₹15.16 Cr (EBITDA margin 34.9%). Revenue has grown at a compounded annual rate (CAGR) of 51% over three years and 29% over five years.
The company has about 144 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: BSG. As per MCA filings, the company has open charges of ₹29.2 Lakh and satisfied charges of ₹9.25 Cr on record. The company has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022. Its 10 peer companies in the same principal business activity (Computer programming, consultancy and related activities) are compared by revenue, 5 larger and 5 smaller; the largest is Arc Document Solutions India Private Limited with revenue of ₹43.71 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bsg.ind.in.
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- Website
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- Registered AddressUnit No 902 9th Floor Tower B Embassy 247, Lal Bahadur Shastri Marg Vikhroli West, Mumbai, Maharashtra, India – 400083
- IndustryInformation Technology, Application Development & Software Solutions
- 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
- One PDF report, delivered after checkout
Business Activity of M2p BSG Itsoft Private Limited
The main business activity of M2p BSG Itsoft is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of M2p BSG Itsoft Private Limited FY 2025 filings available
M2p BSG Itsoft Private Limited reported revenue of ₹43.49 Cr (down 8% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of M2p BSG Itsoft Private Limited
Revenue fell 8% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 29%. EBITDA rose 7% 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 of M2p BSG Itsoft Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹15.16 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹21.92 Lakh | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of M2p BSG Itsoft Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 34.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -0.5% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of M2p BSG Itsoft are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of M2p BSG Itsoft Private Limited
M2p BSG Itsoft Private Limited is compared with the companies closest to it by revenue in the same principal business activity (Computer programming, consultancy and related activities). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Arc Document Solutions India Private Limited | ₹43.71 Cr (FY 2025) | •••• | •••• | 6.0% | •••• | Kolkata, West Bengal, India |
| Aureustech Systems Private Limited | ₹43.59 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Bangalore, Karnataka, India |
| Tekskills India Private Limited | ₹43.55 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Hyderabad, Telangana, India |
| Shoptimize India Private Limited | ₹43.55 Cr (FY 2025) | •••• | •••• | -42.0% | •••• | Pune, Maharashtra, India |
| Tryzens India Private Limited | ₹43.51 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Thiruvananthapuram, Kerala, India |
| M2p BSG Itsoft Private Limited this company | ₹43.49 Cr (FY 2025) | •••• | •••• | -8.0% | •••• | Mumbai, Maharashtra, India |
| Amicorp Management India Private Limited | ₹43.48 Cr (FY 2024) | •••• | •••• | -22.0% | •••• | Bangalore, Karnataka, India |
| Digitalapicraft Private Limited | ₹43.46 Cr (FY 2025) | •••• | •••• | 41.0% | •••• | Bangalore, Karnataka, India |
| Jivox Software India Private Limited | ₹43.33 Cr (FY 2025) | •••• | •••• | 6.0% | •••• | Bangalore, Karnataka, India |
| Iandr Technologies Private Limited | ₹43.3 Cr (FY 2023) | •••• | •••• | 88.0% | •••• | Chennai, Tamil Nadu, India |
| Knolskape Solutions Private Limited | ₹43.3 Cr (FY 2024) | •••• | •••• | 13.0% | •••• | Bangalore, Karnataka, India |
Peers are the five companies nearest above and the five nearest below M2p BSG Itsoft by revenue in the same principal business activity (Computer programming, consultancy and related activities), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of M2p BSG Itsoft Private Limited
M2p BSG Itsoft Private Limited is audited by GD Bhati and Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| GD Bhati and Associates | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of M2p BSG Itsoft Private Limited
M2p BSG Itsoft has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rangarajan Madhusudanan Also directs: Finana Partners LLP, Chennai-Falcons E-Cricket League LLP, FF Payments Tech Private Limited and 4 more | Director | 05 Jul 2023 | 3 Years 3 Months | Current |
| Muthukumar Ayyakkannu Also directs: FF Payments Tech Private Limited, Conflux Technologies Private Limited, Syntizen Technologies Private Limited and 5 more | Director | 05 Jul 2023 | 3 Years 3 Months | Current |
| Prabhu Rangarajan Also directs: Finana Partners LLP, FF Payments Tech Private Limited, Conflux Technologies Private Limited and 4 more | Director | 01 Jun 2022 | 4 Years 4 Months | Current |
Ownership and Shareholding of M2p BSG Itsoft Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of M2p BSG Itsoft Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 05 Jul 2017 | Hdfc Bank Limited | ₹29.2 Lakh | Open |
| 12 Mar 2021 | Others | ₹9.25 Cr | Satisfied |
Total charge records: 2 View all charges
Deals & Funding of M2p BSG Itsoft Private Limited
M2p BSG Itsoft Private Limited has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2022 | Acquisition | Undisclosed | Buyer: M2p Solutions Private Limited |
| Jun 2021 | Rights issue | ₹7.83 Cr | Investors: 3 individuals |
| Apr 2019 | Rights issue | ₹4.75 Cr | Investors: an individual |
Full deal history
All 3 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Associated Brands with M2p BSG Itsoft Private Limited
M2p BSG Itsoft operates one associated brand: BSG. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Cloud-based core banking solution | bsg.ind.in |
Employees and EPFO Compliance at M2p BSG Itsoft Private Limited
M2p BSG Itsoft Private Limited has a workforce of 144 employees as of Apr 05, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on M2p BSG Itsoft Private Limited
M2p BSG Itsoft Private Limited has 9 board changes on record since 2021: 3 appointments and 6 cessations. The latest: Muthukumar Ayyakkannu ceased to be Additional Director on 29 Sep 2023.
5 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for M2p BSG Itsoft Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by M2p BSG Itsoft Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of M2p BSG Itsoft Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of M2p BSG Itsoft Private Limited
M2p BSG Itsoft has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCB9764C1ZL | Maharashtra | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of M2p BSG Itsoft Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about M2p BSG Itsoft Private Limited
M2p BSG Itsoft is an active private limited company based in Mumbai, Maharashtra, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 18 January 2010 (16+ years old) and is registered under CIN U72200MH2010PTC198979.
M2p BSG Itsoft reported revenue of ₹43.49 Cr for FY 2025 (down 8% YoY).
M2p BSG Itsoft has 3 current directors:
- Rangarajan Madhusudanan - Director
- Muthukumar Ayyakkannu - Director
- Prabhu Rangarajan - Director
M2p BSG Itsoft reported a net loss of ₹21.92 Lakh (net margin -0.5%) and EBITDA of ₹15.16 Cr (EBITDA margin 34.9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of M2p BSG Itsoft is 51% over three years and 29% over five years. In the latest year (FY 2025) revenue fell 8%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of M2p BSG Itsoft is 27AADCB9764C1ZL, registered in Maharashtra.
The CIN (Corporate Identification Number) of M2p BSG Itsoft is U72200MH2010PTC198979. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
M2p BSG Itsoft was incorporated on 18 January 2010, making it 16+ years old. It is registered with the Registrar of Companies, Mumbai.
M2p BSG Itsoft has 3 deals on record (2 rights issues, 1 acquisition); the latest was in February 2022.
The peers of M2p BSG Itsoft by revenue are Arc Document Solutions India Private Limited, Aureustech Systems Private Limited, Tekskills India Private Limited, Shoptimize India Private Limited, Tryzens India Private Limited and 5 more, all in the same principal business activity (Computer programming, consultancy and related activities).
Muthukumar Ayyakkannu ceased to be Additional Director on 29 Sep 2023. Rangarajan Madhusudanan ceased to be Additional Director on 29 Sep 2023. Muthukumar Ayyakkannu was appointed as Director on 05 Jul 2023. M2p BSG Itsoft has 9 board changes on record in total.