About Medway Technologies Private Limited
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Medway Technologies Private Limited is a private limited company based in Bangalore, Karnataka, India, recognised as a startup by DPIIT. It operates in the healthtech and medical tech solutions segment of the healthcare sector. It was incorporated on 04 April 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2020PTC133661. Its GSTIN is 29AANCM4049F1Z6 (Karnataka). The company holds 25 GST registrations, all of them active.
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1.56 Lakh. It is led by directors including Ravi Chandra Merugu and Abhijeet Ashok Kanetkar.
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 Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹2.53 Cr, a decline of 68% compared to the previous year. For the same year it recorded a net loss of ₹4.73 Cr (net margin -187.4%) and EBITDA of -₹4.18 Cr (EBITDA margin -165.4%). Revenue has grown at a compounded annual rate (CAGR) of 479% over three years.
The company is associated with 1 brand: MedPay. As per MCA filings, the company has satisfied charges of ₹2 Cr on record. The company has 3 deals on record (3 funding rounds), with disclosed funding of ₹10.88 Cr; the latest was in June 2024. Its 10 peer companies in the Healthcare industry (Healthcare Technology) are compared by revenue, 5 larger and 5 smaller; the largest is Yostra Labs Private Limited with revenue of ₹2.63 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 medpay.ai.
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- TelephoneLocked
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- Registered AddressNo. 198 Cmh Road 2nd Floor, Suite No. 1016, Bangalore, Karnataka, India – 560038
- IndustryHealthcare, HealthTech & Medical Tech 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
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Business Activity of Medway Technologies Private Limited
The main business activity of Medway Technologies is information and communication. In detail, this covers other information & communication service activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service 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 Medway Technologies Private Limited FY 2025 filings available
Medway Technologies Private Limited reported revenue of ₹2.53 Cr (down 68% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Medway Technologies Private Limited
Revenue fell 68% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 479%. EBITDA rose 14% 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 Medway Technologies Private Limited
| Metrics | 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 | -₹4.18 Cr | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹4.73 Cr | •••• | •••• | •••• |
| Balance Sheet | ||||
| Share Capital | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• |
Financial Ratios of Medway Technologies Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | -165.4% | •••• | •••• | •••• |
| Net Profit Margin | -187.4% | •••• | •••• | •••• |
| 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 Medway Technologies are in the company report.
Financial statements from FY 2021
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 Medway Technologies Private Limited
Medway Technologies Private Limited is compared with the companies closest to it by revenue in the Healthcare industry (Healthcare Technology). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Yostra Labs Private Limited | ₹2.63 Cr (FY 2024) | •••• | •••• | 95.0% | •••• | Bangalore, Karnataka, India |
| Akos MD Technologies Private Limited | ₹2.63 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | New Delhi, Delhi, India |
| 360 Health Vectors Private Limited | ₹2.58 Cr (FY 2025) | •••• | •••• | -9.0% | •••• | Bengaluru, Karnataka, India |
| Dxgenesis Healthcare Private Limited | ₹2.54 Cr (FY 2024) | •••• | •••• | -21.0% | •••• | Mysore, Karnataka, India |
| Celebrity Konnections Tech Private Limited | ₹2.53 Cr (FY 2025) | •••• | •••• | 327.0% | •••• | Pune, Maharashtra, India |
| Medway Technologies Private Limited this company | ₹2.53 Cr (FY 2024) | •••• | •••• | -68.0% | •••• | Bangalore, Karnataka, India |
| Mahe Technologies Private Limited | ₹2.52 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Kolkata, West Bengal, India |
| Safey Medical Devices Private Limited | ₹2.51 Cr (FY 2025) | •••• | •••• | 83.0% | •••• | Pune, Maharashtra, India |
| Iqzyme Medtech Private Limited | ₹2.51 Cr (FY 2025) | •••• | •••• | 78.0% | •••• | Ernakulam, Kerala, India |
| Crossasyst Technologies Private Limited | ₹2.5 Cr (FY 2024) | •••• | •••• | -2.0% | •••• | Mumbai, Maharashtra, India |
| Aikenist Technologies Private Limited | ₹2.5 Cr (FY 2025) | •••• | •••• | 43.0% | •••• | Bangalore, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Medway Technologies by revenue in the Healthcare industry (Healthcare Technology), 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 Medway Technologies Private Limited
Medway Technologies Private Limited is audited by P R SHUKLA & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| P R SHUKLA & 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 Medway Technologies Private Limited
Medway Technologies has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ravi Chandra Merugu Also directs: RCM Innovations LLP | Director | 04 Apr 2020 | 6 Years 6 Months | Current |
| Abhijeet Ashok Kanetkar | Additional Director | 28 Jan 2026 | 0 Years 8 Months | Current |
| Viswanathan Nelluvaya Subrahmanian Iyer Also directs: Spot Healthcare Solutions Private Limited | Additional Director | 15 Sep 2025 | 1 Years 0 Months | Current |
Ownership and Shareholding of Medway Technologies 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 Medway Technologies Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 24 Mar 2022 | Others | ₹2 Cr | Satisfied |
Total charge records: 1 View all charges
Deals & Funding of Medway Technologies Private Limited
Medway Technologies Private Limited has 3 deals on record (3 funding rounds), with disclosed funding of ₹10.88 Cr; the latest was in June 2024.
Deals on record (1 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2024 | Funding round | ₹2 Cr | Investors: Turbostart |
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.
Employees and EPFO Compliance at Medway Technologies Private Limited
Employment history and EPFO contributions of people linked to Medway Technologies.
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.
News related to Medway Technologies Private Limited
Recent Activity on Medway Technologies Private Limited
Medway Technologies Private Limited has 4 board changes on record since 2020: 4 appointments. The latest: Abhijeet Ashok Kanetkar was appointed as Additional Director on 28 Jan 2026.
Credit Ratings, Litigation & Regulatory Alerts for Medway Technologies 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 Medway Technologies 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
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Subsidiaries & Group Companies of Medway Technologies 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
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GST Compliance of Medway Technologies Private Limited
Medway Technologies has 25 GST registrations: 25 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AANCM4049F1Z6 | Karnataka | Active | 13 Oct 2020 |
| 29AANCM4049F1CH | Karnataka | Active | 13 Apr 2021 |
| 07AANCM4049F1CN | Delhi | Active | 13 Jul 2021 |
| 06AANCM4049F1CP | Haryana | Active | 23 Jul 2021 |
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 Medway Technologies 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 Medway Technologies Private Limited
Medway Technologies is an active private limited company based in Bangalore, Karnataka, India. The company works in healthtech and medical tech solutions, within the healthcare industry. It was incorporated on 04 April 2020 (6+ years old) and is registered under CIN U72900KA2020PTC133661.
Medway Technologies reported revenue of ₹2.53 Cr for FY 2024 (down 68% YoY).
Medway Technologies has 3 current directors:
- Ravi Chandra Merugu - Director
- Abhijeet Ashok Kanetkar - Additional Director
- Viswanathan Nelluvaya Subrahmanian Iyer - Additional Director
Medway Technologies reported a net loss of ₹4.73 Cr (net margin -187.4%) and EBITDA of -₹4.18 Cr (EBITDA margin -165.4%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Medway Technologies is 479% over three years. In the latest year (FY 2024) revenue fell 68%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Medway Technologies is 29AANCM4049F1Z6, registered in Karnataka. The company has 25 GST registrations in all, of which 25 are active. Other active GSTINs include 29AANCM4049F1CH (Karnataka), 07AANCM4049F1CN (Delhi), 06AANCM4049F1CP (Haryana).
The CIN (Corporate Identification Number) of Medway Technologies is U72900KA2020PTC133661. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Medway Technologies was incorporated on 04 April 2020, making it 6+ years old. It is registered with the Registrar of Companies, Bangalore.
Medway Technologies has 3 deals on record (3 funding rounds), with disclosed funding of ₹10.88 Cr; the latest was in June 2024.
The peers of Medway Technologies by revenue are Yostra Labs Private Limited, Akos MD Technologies Private Limited, 360 Health Vectors Private Limited, Dxgenesis Healthcare Private Limited, Celebrity Konnections Tech Private Limited and 5 more, all in the Healthcare industry (Healthcare Technology).
Abhijeet Ashok Kanetkar was appointed as Additional Director on 28 Jan 2026. Viswanathan Nelluvaya Subrahmanian Iyer was appointed as Additional Director on 15 Sep 2025. Arun Bhatia was appointed as Director on 04 Apr 2020. Medway Technologies has 4 board changes on record in total.