MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-26-0000030
Manipal Business Solutions Private Limited - internet in Manipal, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹171.92 Cr
▼ 18% YoY
Net profit · FY 2025
₹16.61 Cr
Net margin 9.7%
EBITDA · FY 2025
₹25.12 Cr
EBITDA margin 14.6%
Authorised capital
₹30 Cr
Registered with MCA
Paid-up capital
₹23.15 Cr
Issued & subscribed
Open charges
₹20.6 Cr
Satisfied ₹25.46 Cr
Company age
17 yrs
Est. 2009
Employees · EPFO
348
Provident fund records
About Manipal Business Solutions Private Limited
Data last updated:
Manipal Business Solutions Private Limited is a private limited company based in Manipal, Karnataka, India, a subsidiary of Manipal Technologies Limited. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 31 July 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2009PTC050532. Its GSTIN is 29AAGCM2425G1ZJ (Karnataka). The company holds 4 GST registrations, all of them active.
The company has an authorised share capital of ₹30 Cr and a paid-up capital of ₹23.15 Cr. It is led by directors including Padmaja Shailen Ruparel and Abhay Anant Gupte.
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 Udayavani Building Press Corner, Manipal, Karnataka, India – 576104.
As per the financials filed for FY 2025, the company reported a revenue of ₹171.92 Cr, a decline of 18% compared to the previous year. For the same year it recorded a net profit of ₹16.61 Cr (net margin 9.7%) and EBITDA of ₹25.12 Cr (EBITDA margin 14.6%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 22% over five years.
The company has about 348 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Manipal Business Solutions and SahiPay. As per MCA filings, the company has open charges of ₹20.6 Cr and satisfied charges of ₹25.46 Cr on record. Court records list 64 cases involving the company, including 61 filed by the company and 3 filed against it; 6 cases are pending. The company has 3 deals on record (2 funding rounds, 1 rights issue), with disclosed funding of ₹18.05 Cr; the latest was in March 2022. The company has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 1 overdue payment to 1 micro and small supplier.
Manipal Business Solutions Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-26-0000030). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website manipalbusinesssolutions.com.
Company details
CIN U72200KA2009PTC050532
Registration Number 050532
Incorporation Date 31 July 2009
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Manipal Technologies Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-26-0000030
Key People
Padmaja Shailen Ruparel Director Abhay Anant Gupte Director Tekkar Yashwanth Prabhu Director Recognitions & Rankings of Manipal Business Solutions
Contact details
Manipal Business Solutions Private Limited's registered office is in Manipal, Karnataka. Its website is manipalbusinesssolutions.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUdayavani Building Press Corner, Manipal, Karnataka, India – 576104
- IndustryInternet, Online Financial Services
To see the full contact details of Manipal Business Solutions Private Limited, buy the company report.
Comprehensive company report
Manipal Business 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
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Brands
Manipal Business Solutions operates two associated brands: Manipal Business Solutions and SahiPay. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Fintech solutions for banking, financial inclusion, and compliance services in India. | manipalbusinesssolutions.com | |
| Payment acceptance solutions are provided for businesses via digital methods. | sahipay.com |
Business activity
The main business activity of Manipal Business Solutions is support service to organizations. In detail, this covers other support services to organizations.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N7 | Other support services to organizations |
To see the full business activity and turnover split of Manipal Business Solutions Private Limited, buy the company report.
Financials of Manipal Business Solutions Private Limited
FY 2025 filings availableManipal Business Solutions Private Limited reported revenue of ₹171.92 Cr (down 18% YoY) for FY 2025.
Revenue · FY 2025
₹171.92 Cr ▼ 18%
Net profit · FY 2025
₹16.61 Cr margin 9.7%
EBITDA · FY 2025
₹25.12 Cr margin 14.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 18%
3 years · compounded
▲ 7%
5 years · compounded
▲ 22%
EBITDA CAGR growth
1 year
▼ 20%
3 years · compounded
▲ 151%
5 years · compounded
▲ 31%
Revenue fell 18% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 22%. EBITDA fell 20% 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 | ₹25.12 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹16.61 Cr | ||||
| Balance Sheet | |||||
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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 | 14.6% | ||||
| Net Profit Margin | 9.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Manipal Business Solutions Private Limited, buy the company report.
Board of directors of Manipal Business Solutions Private Limited
Manipal Business Solutions has 4 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Padmaja Shailen Ruparel Also directs: Ester Industries Limited, Manipal Technologies Limited, Manipal Payment and Identity Solutions Limited and 5 more | Director | 03 Mar 2023 | 3 Years 8 Months | Current |
| Abhay Anant Gupte Also directs: Ester Industries Limited, Intellect Design Arena Limited, Manipal Technologies Limited and 3 more | Director | 28 Sep 2024 | 2 Years 1 Months | Current |
| Tekkar Yashwanth Prabhu Also directs: Natural Capsules Limited, Natural Biogenex Private Limited, Simplepay Finance Private Limited and 2 more | Director | 07 Mar 2012 | 14 Years 7 Months | Current |
| Anand Kudigrama Also directs: Manipal Energy & Infratech Limited, Onyx Assets LLP, Shree Anantha Estate LLP and 3 more | Director | 24 Aug 2020 | 6 Years 2 Months | Current |
Auditor
Manipal Business Solutions Private Limited is audited by PAI NAYAK & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PAI NAYAK & ASSOCIATES | FY 2023 | 009090S |
Shareholding
The shareholding of Manipal Business Solutions Private 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 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Manipal Business Solutions Private Limited, buy the company report.
Charges & borrowings
Open charges
₹20.6 Cr
Satisfied charges
₹25.46 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 Apr 2024 | 100916740 | Others | ₹60 Lakh | Open | |
| 21 Aug 2020 | 100371024 | The Catholic Syrian Bank Ltd | ₹20 Cr | Open | |
| 27 Jun 2016 | 100036379 | Vijaya Bank | ₹96 Lakh | Satisfied | |
| 13 Mar 2014 | 10494957 | Vijaya Bank | ₹1.5 Cr | Satisfied | |
| 11 Mar 2014 | 10494951 | Vijaya Bank | ₹18 Cr | Satisfied |
To see the full charge records of Manipal Business Solutions Private Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Manipal Business Solutions Private Limited has 3 deals on record (2 funding rounds, 1 rights issue), with disclosed funding of ₹18.05 Cr; the latest was in March 2022.
Total deals
3
Funding rounds
2
Rights issue
1
Disclosed funding
₹18.05 Cr
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2022 | Rights issue | ₹5 Cr | Investors: Manipal Technologies Limited |
| Mar 2022 | Funding round | ₹15.65 Cr | Investors: Manipal Technologies Limited |
| Jan 2012 | Funding round | ₹2.4 Cr | Investors: Manipal Technologies Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Manipal Business Solutions Private Limited has 64 court cases on record: 61 filed by Manipal Business Solutions, 3 filed against it. 6 cases are pending and 58 are disposed.
Total cases
64
Filed by the company
61
Filed against the company
3
Pending
6
Disposed
58
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 60 | 2 | 5 |
| High courts | 3 | 1 | 1 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 64)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (Special Leave Petition (Criminal)) | Filed by the company against Aurigain Consultants Private Limited | Disposed |
| District court, Pathankot, Punjab | Civil suit | Filed against the company by an individual | Pending |
| High Court of Karnataka | Court case (CRL.P) | Filed by the company against State of Karnataka | Pending |
| District court, Pathankot, Punjab | Civil suit | Filed against the company by an individual | Pending |
| District court, UDUPI, Karnataka | Criminal complaint | Filed by the company against an individual | Pending |
To see the full case history of Manipal Business 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
Manipal Business Solutions Private Limited was last rated by Indiarating on 18 May 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 18 May 2021 |
To see the full credit ratings and regulatory alerts of Manipal Business Solutions Private Limited, buy the company report.
MSME payment delays
Manipal Business Solutions Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 1 overdue payment to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Manipal Business Solutions Private Limited |
To see the full MSME payment records of Manipal Business Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Manipal Business Solutions Private Limited has a workforce of 348 employees on its EPFO records as of Apr 01, 2024, across 2 active EPFO establishments.
Employee count
348
Active EPFO establishments
2
Employee growth
-24.84%
GST
Manipal Business Solutions has 4 GST registrations: 4 active.
Total GSTINs
4
Active
4
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAGCM2425G1ZJ | Karnataka | Active | 01 Jul 2017 |
| 29AAGCM2425G2ZI | Karnataka | Active | 25 Feb 2025 |
| 06AAGCM2425G1ZR | Haryana | Active | 01 Jul 2017 |
| 09AAGCM2425G1ZL | Uttar Pradesh | Active | 22 Mar 2025 |
To see the full GST registrations and return filing status of Manipal Business Solutions Private Limited, buy the company report.
Recent activity
Manipal Business Solutions Private Limited has 17 board changes on record since 2010: 5 appointments and 12 cessations. The latest: Abhay Anant Gupte was appointed as Director on 28 Sep 2024.
AGM
Manipal Business Solutions Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Filing
Manipal Business Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Abhay Anant Gupte was appointed as Director.
Ceased
Abhay Anant Gupte ceased to be Additional Director.
Appointed
Vishal Jain was appointed as CEO.
Charges
A charge with Others amounted to Rs. 0.60 Cr with Charge ID 100916740 was registered on 22 Apr 2024.
Ceased
Kamaljeet Rastogi ceased to be CEO.
Ceased
Padmaja Shailen Ruparel ceased to be Additional Director.
Appointed
Padmaja Shailen Ruparel was appointed as Director.
Charges
A charge with The Catholic Syrian Bank Ltd of Rs. 20.00 Cr registered on 21 Aug 2020 with Charge ID 100371024 was modified on 03 Jan 2023.
Ceased
Anand Kudigrama ceased to be Additional Director.
Ceased
Sankaraiah Navaneethakrishnan ceased to be Additional Director.
20 earlier events are in the company report.
Frequently asked questions
Manipal Business Solutions is an active private limited company based in Manipal, Karnataka, India. The company works in online financial services, within the internet industry. It was incorporated on 31 July 2009 (17+ years old) and is registered under CIN U72200KA2009PTC050532.
Manipal Business Solutions has 4 current directors:
- Padmaja Shailen Ruparel - Director
- Abhay Anant Gupte - Director
- Tekkar Yashwanth Prabhu - Director
- Anand Kudigrama - Director
The latest financial statements of Manipal Business Solutions on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Manipal Business Solutions is 29AAGCM2425G1ZJ, registered in Karnataka. The company has 4 GST registrations in all, of which 4 are active. Other active GSTINs include 29AAGCM2425G2ZI (Karnataka), 06AAGCM2425G1ZR (Haryana), 09AAGCM2425G1ZL (Uttar Pradesh).
The CIN (Corporate Identification Number) of Manipal Business Solutions is U72200KA2009PTC050532. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Manipal Business Solutions has 64 court cases on record: 61 filed by the company and 3 filed against it. 6 are pending. Most are in the district courts.
Manipal Business Solutions was incorporated on 31 July 2009, making it 17+ years old. It is registered with the Registrar of Companies, Bangalore.
Manipal Business Solutions has 3 deals on record (2 funding rounds, 1 rights issue), with disclosed funding of ₹18.05 Cr; the latest was in March 2022.
Abhay Anant Gupte was appointed as Director on 28 Sep 2024. Abhay Anant Gupte ceased to be Additional Director on 03 Sep 2024. Vishal Jain was appointed as CEO on 31 Aug 2024. Manipal Business Solutions has 17 board changes on record in total.
Yes, Manipal Business Solutions is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-26-0000030).
Manipal Business Solutions has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 1 overdue payment to 1 micro and small supplier. The latest return was filed on 30 Apr 2024.
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