About Mindgate Solutions Private Limited
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Mindgate Solutions Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the online payment gateways segment of the financial services sector. It was incorporated on 07 July 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72200MH2008PTC184354. Its GSTIN is 27AAFCM6471R1ZN (Maharashtra). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹1.5 Cr and a paid-up capital of ₹1.2 Cr. It is led by directors including Arvind Govind Agarwal and Guhan Muthuswamy.
Its last annual general meeting (AGM) was held on 16 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 ₹355.36 Cr, a growth of 41% compared to the previous year. For the same year it recorded a net profit of ₹30.12 Cr (net margin 8.5%) and EBITDA of ₹67.22 Cr (EBITDA margin 18.9%). Revenue has grown at a compounded annual rate (CAGR) of 30% over three years and 32% over five years.
The company has about 948 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mindgate. As per MCA filings, the company has open charges of ₹6.68 Cr and satisfied charges of ₹1.9 Cr on record. Court records list 30 cases involving the company, including 8 filed by the company and 21 filed against it; 11 cases are pending. The company has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹70 Cr; the latest was in June 2025. Its 10 peer companies in the BFSI industry (Payment Gateways) are compared by revenue, 5 larger and 5 smaller; the largest is Garagepreneurs Internet Private Limited with revenue of ₹867.83 Cr. The company has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 36 overdue payments to 8 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mindgate.in.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address14th Floor Damji Shamji Business Galleria Near Huma Cinemas Lbs Marg Kanjurmarg, West, Mumbai, Maharashtra, India – 400078
- IndustryFinancial Services, Online Payment Gateways
- 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 Mindgate Solutions Private Limited
The main business activity of Mindgate Solutions 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 Mindgate Solutions Private Limited FY 2025 filings available
Mindgate Solutions Private Limited reported revenue of ₹355.36 Cr (up 41% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Mindgate Solutions Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 32% over five years, including 41% growth in the latest year. EBITDA rose 95% 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 Mindgate Solutions 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 | ₹67.22 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹30.12 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 Mindgate Solutions Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 18.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 8.5% | •••• | •••• | •••• | •••• |
| 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 Mindgate Solutions 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 Mindgate Solutions Private Limited
Mindgate Solutions Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Gateways). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Garagepreneurs Internet Private Limited | ₹867.83 Cr (FY 2023) | •••• | •••• | 196.0% | •••• | Gmc, Assam, India |
| Easebuzz Private Limited | ₹658.96 Cr (FY 2025) | •••• | •••• | 127.0% | •••• | Pune, Maharashtra, India |
| Cashfree Payments India Private Limited | ₹640.74 Cr (FY 2025) | •••• | •••• | -1.0% | •••• | Bangalore South, Karnataka, India |
| Synergistic Financial Networks Private Limited | ₹611.84 Cr (FY 2025) | •••• | •••• | 44.0% | •••• | Mumbai, Maharashtra, India |
| Rapipay Fintech Private Limited | ₹360.03 Cr (FY 2025) | •••• | •••• | -16.0% | •••• | New Delhi, Delhi, India |
| Mindgate Solutions Private Limited this company | ₹355.36 Cr (FY 2025) | •••• | •••• | 41.0% | •••• | Mumbai, Maharashtra, India |
| Zaak Epayment Services Private Limited | ₹297.26 Cr (FY 2025) | •••• | •••• | 74.0% | •••• | Gurugram, Haryana, India |
| Dp4u Services Private Limited | ₹278.8 Cr (FY 2025) | •••• | •••• | •••• | Noida, Uttar Pradesh, India | |
| Pay10 Services Private Limited | ₹268.57 Cr (FY 2025) | •••• | •••• | 203.0% | •••• | New Delhi, Delhi, India |
| Airpay Payment Services Private Limited | ₹213.13 Cr (FY 2025) | •••• | •••• | 66.0% | •••• | Mumbai, Maharashtra, India |
| Stripe India Private Limited | ₹205.08 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | Bangalore South, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Mindgate Solutions by revenue in the BFSI industry (Payment Gateways), 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 Mindgate Solutions Private Limited
Mindgate Solutions Private Limited is audited by Walker Chandiok & Co LLP for the financial year 2022.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Walker Chandiok & Co 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 Mindgate Solutions Private Limited
Mindgate Solutions has 5 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Gunjan Shukla | Additional Director | 15 May 2025 | 1 Years 4 Months | Current |
| Arvind Govind Agarwal Also directs: Payu Payments Private Limited | Director | 19 Mar 2025 | 1 Years 6 Months | Current |
| Guhan Muthuswamy Also directs: MGSV Growth Partners LLP, Myndgenie Systems Private Limited | Director | 07 Jul 2008 | 18 Years 3 Months | Current |
| George Sam Kavalackal Also directs: Myndgenie Systems Private Limited, Mercy Foundation | Director | 07 Jul 2008 | 18 Years 3 Months | Current |
| Manas Mishra | Additional Director | 15 May 2025 | 1 Years 4 Months | Current |
Ownership and Shareholding of Mindgate Solutions 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 Mindgate Solutions Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 08 Nov 2024 | Hdfc Bank Limited | ₹22 Lakh | Open |
| 08 Nov 2024 | Hdfc Bank Limited | ₹22 Lakh | Open |
| 25 Sep 2024 | Others | ₹20 Lakh | Open |
| 01 Aug 2024 | Others | ₹52 Lakh | Open |
| 29 Jun 2024 | Others | ₹51.19 Lakh | Open |
Total charge records: 13 View all charges
Deals & Funding of Mindgate Solutions Private Limited
Mindgate Solutions Private Limited has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹70 Cr; the latest was in June 2025.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2025 | Secondary share transfer | Undisclosed | Buyer: Payu Payments Private Limited |
| Mar 2025 | Secondary share transfer | Undisclosed | Buyer: Providence Family Trust (George Sam acting as a Trustee) Seller: an individual |
| Mar 2025 | Secondary share transfer | Undisclosed | Buyer: Payu Payments Private Limited Seller: Aci Worldwide Consulting (India) Private Limited , Providence Family Trust (George Sam acting as a Trustee), 2 individuals |
| Feb 2025 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jul 2019 | Secondary share transfer | Undisclosed | Buyer: Aci Worldwide Consulting (India) Private Limited , Aci Worldwide Solutions Private Limited Seller: 2 individuals |
Full deal history
All 10 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.
Legal Cases of Mindgate Solutions Private Limited
Mindgate Solutions Private Limited has 30 court cases on record: 8 filed by Mindgate Solutions, 21 filed against it, 1 where it is another party. 11 cases are pending and 19 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 19 | 10 |
| District courts | 3 | 2 | 1 |
Cases on record (5 of 30)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (CARBP) | Filed against the company by Auroraa Solutions Private Limited | Pending |
| Madras High Court | Appeal | Filed against the company by Intellect Design Arena Limited | Pending |
| Madras High Court | Original application | Filed against the company by Intellect Design Arena Limited | Pending |
| Madras High Court | Court case (C.S(COMM DIV)) | Filed against the company by Intellect Design Arena Limited | Pending |
| Madras High Court | Appeal | Filed by the company against Intellect Design Arena Limited | Pending |
Full case history
All 30 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Mindgate Solutions Private Limited
Mindgate Solutions Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 36 overdue payments to 8 micro and small suppliers. 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 (5 of 8)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Protectt.Ai Labs Private Limited | •••• | •••• | •••• |
| Applied Cloud Computing Pvt. Ltd | •••• | •••• | •••• |
| Scalezee Technologies Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 1 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Mindgate Solutions Private Limited
Mindgate Solutions operates one associated brand: Mindgate. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Digital payment platforms and transaction management services are provided. | mindgate.solutions |
Employees and EPFO Compliance at Mindgate Solutions Private Limited
Mindgate Solutions Private Limited has a workforce of 948 employees as of Apr 09, 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.
News related to Mindgate Solutions Private Limited
Recent Activity on Mindgate Solutions Private Limited
Mindgate Solutions Private Limited has 13 board changes on record since 2008: 7 appointments and 6 cessations. The latest: Anil Radheshyam Ruwatia was appointed as CFO on 01 Jul 2025.
19 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Mindgate Solutions 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.
Subsidiaries & Group Companies of Mindgate Solutions 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 Mindgate Solutions Private Limited
Mindgate Solutions has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCM6471R1ZN | Maharashtra | Active | 01 Jul 2017 |
| 33AAFCM6471R2ZT | Tamil Nadu | Active | 14 Feb 2020 |
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 Mindgate Solutions 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 Mindgate Solutions Private Limited
Mindgate Solutions is an active private limited company based in Mumbai, Maharashtra, India. The company works in online payment gateways, within the financial services industry. It was incorporated on 07 July 2008 (18+ years old) and is registered under CIN U72200MH2008PTC184354.
Mindgate Solutions reported revenue of ₹355.36 Cr for FY 2025 (up 41% YoY).
Mindgate Solutions has 5 current directors:
- Gunjan Shukla - Additional Director
- Arvind Govind Agarwal - Director
- Guhan Muthuswamy - Director
- George Sam Kavalackal - Director
- Manas Mishra - Additional Director
Mindgate Solutions reported a net profit of ₹30.12 Cr (net margin 8.5%) and EBITDA of ₹67.22 Cr (EBITDA margin 18.9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Mindgate Solutions is 30% over three years and 32% over five years. In the latest year (FY 2025) revenue rose 41%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Mindgate Solutions is 27AAFCM6471R1ZN, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 33AAFCM6471R2ZT (Tamil Nadu).
The CIN (Corporate Identification Number) of Mindgate Solutions is U72200MH2008PTC184354. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mindgate Solutions has 30 court cases on record: 8 filed by the company and 21 filed against it. 11 are pending. Most are in the high courts.
Mindgate Solutions was incorporated on 07 July 2008, making it 18+ years old. It is registered with the Registrar of Companies, Mumbai.
Mindgate Solutions has 10 deals on record (9 secondary share transfers, 1 funding round), with disclosed funding of ₹70 Cr; the latest was in June 2025.
The peers of Mindgate Solutions by revenue are Garagepreneurs Internet Private Limited, Easebuzz Private Limited, Cashfree Payments India Private Limited, Synergistic Financial Networks Private Limited, Rapipay Fintech Private Limited and 5 more, all in the BFSI industry (Payment Gateways).
Anil Radheshyam Ruwatia was appointed as CFO on 01 Jul 2025. Gunjan Shukla was appointed as Additional Director on 15 May 2025. Manas Mishra was appointed as Additional Director on 15 May 2025. Mindgate Solutions has 13 board changes on record in total.