About Milvik Technology Services India Private Limited
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Milvik Technology Services India Private Limited is a foreign private limited company based in Bangalore, Karnataka, India, a subsidiary of Milvik Ab. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 24 March 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2016FTC087248. Its GSTIN is 29AAKCM2692P1ZJ (Karnataka).
The company has an authorised share capital of ₹6.6 Cr and a paid-up capital of ₹3.3 Cr. It is led by directors Per Gustaf Arne Agartson and Balaji Jayavelu.
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 Wework 43 Residency Road, Bangalore, Karnataka, India – 560025.
As per the financials filed for FY 2025, the company reported a revenue of ₹8.11 Cr, a decline of 35% compared to the previous year. For the same year it recorded a net profit of ₹50.26 Lakh (net margin 6.2%) and EBITDA of ₹74.08 Lakh (EBITDA margin 9.1%). Revenue has declined at a compounded annual rate (CAGR) of 21% over three years and 9% over five years.
The company has about 48 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Bima Milvik.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website milvik.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressWework 43 Residency Road, Bangalore, Karnataka, India – 560025
- 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
Associated Brands with Milvik Technology Services India Private Limited
Milvik Technology Services India operates one associated brand: Bima Milvik. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Mobile-based insurance and health services are delivered through a platform. | bimamobile.com |
Competitors & Alternatives of Milvik Technology Services India Private Limited
Brands and companies operating in the same space as Milvik Technology Services India Private Limited include SNACK by Income, Mmilvikpakistan.com, Star Discover Micro and 1 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
 SNACK by Income | Micro-insurance quotes and claims are provided via app to individuals. | Singapore | 2019 |
 Mmilvikpakistan.com | Life and health insurances are offered through an online platform. | San Francisco, United States | 2015 |
 Star Discover Micro | Provider of micro insurance policies covering life, medical, accident, and work injuries | Nairobi, Kenya | 2021 |
 DDFinance | Offers IPaaS and API integration for digital microinsurance services to institutions worldwide. | Nairobi, Kenya | 2015 |
Business Activity of Milvik Technology Services India Private Limited
The main business activity of Milvik Technology Services India is support service to organizations. In detail, this covers other support services to organizations.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| N | Support service to Organizations | N7 | Other support services to organizations | 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.
Auditor Details of Milvik Technology Services India Private Limited
Milvik Technology Services India Private Limited is audited by VASAN & SAMPATH LLP for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| VASAN & SAMPATH LLP | 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 Milvik Technology Services India Private Limited
Milvik Technology Services India has 2 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Per Gustaf Arne Agartson | Director | 17 Jan 2020 | 6 Years 8 Months | Current |
| Balaji Jayavelu | Director | 27 Mar 2020 | 6 Years 6 Months | Current |
Financials of Milvik Technology Services India Private Limited FY 2025 filings available
Milvik Technology Services India Private Limited reported revenue of ₹8.11 Cr (down 35% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Milvik Technology Services India Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 9% over five years, including a 35% fall in the latest year. EBITDA fell 31% 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 Milvik Technology Services India 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 | ₹74.08 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹50.26 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 | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Milvik Technology Services India Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 9.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 6.2% | •••• | •••• | •••• | •••• |
| 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 Milvik Technology Services India are in the company report.
Financial statements from FY 2016
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.
Ownership and Shareholding of Milvik Technology Services India 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 Milvik Technology Services India Private Limited
Milvik Technology Services India Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Milvik Technology Services India Private Limited
Milvik Technology Services India Private Limited has a workforce of 48 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.
GST Compliance of Milvik Technology Services India Private Limited
Milvik Technology Services India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAKCM2692P1ZJ | Karnataka | 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.
Credit Ratings, Litigation & Regulatory Alerts for Milvik Technology Services India 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 Milvik Technology Services India 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 Milvik Technology Services India 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.
MCA Filings & Documents of Milvik Technology Services India 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.
Recent Activity on Milvik Technology Services India Private Limited
Frequently Asked Questions about Milvik Technology Services India Private Limited
Milvik Technology Services India is an active foreign private limited company based in Bangalore, Karnataka, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 24 March 2016 (10+ years old) and is registered under CIN U72200KA2016FTC087248.
Milvik Technology Services India reported revenue of ₹8.11 Cr for FY 2025 (down 35% YoY).
Milvik Technology Services India has 2 current directors:
- Per Gustaf Arne Agartson - Director
- Balaji Jayavelu - Director
Milvik Technology Services India reported a net profit of ₹50.26 Lakh (net margin 6.2%) and EBITDA of ₹74.08 Lakh (EBITDA margin 9.1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Milvik Technology Services India is -21% over three years and -9% over five years. In the latest year (FY 2025) revenue fell 35%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Milvik Technology Services India is 29AAKCM2692P1ZJ, registered in Karnataka.
The CIN (Corporate Identification Number) of Milvik Technology Services India is U72200KA2016FTC087248. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Milvik Technology Services India was incorporated on 24 March 2016, making it 10+ years old. It is registered with the Registrar of Companies, Bangalore.
Milvik Technology Services India can be reached through the website milvik.in. Its registered office is in Bangalore, Karnataka, India.