About Mindgrove Technologies Private Limited
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Mindgrove Technologies Private Limited is a private limited company based in Chennai, Tamil Nadu, India, recognised as a startup by DPIIT. It operates in the electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 05 February 2021 and has been in existence for over 5 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U29100TN2021PTC141187. Its GSTIN is 33AAOCM2751M1Z4 (Tamil Nadu).
The company has an authorised share capital of ₹22.6 Lakh and a paid-up capital of ₹13.55 Lakh. It is led by directors including Jagathrakshakan Sharan Srinivas and Thirukkarugavoor Ramkumar Shashwath.
Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at No. 12B Vedanta Desikar Swamy Street Mylapore, Chennai, Tamil Nadu, India – 600004.
As per the financials filed for FY 2025, the company reported a revenue of ₹3 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹7.87 Cr (net margin -262.2%) and EBITDA of -₹7.72 Cr (EBITDA margin -257.3%). Revenue has grown at a compounded annual rate (CAGR) of 132% over three years.
The company has about 36 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mindgrove. As per MCA filings, the company has open charges of ₹4 Lakh and satisfied charges of ₹40 Lakh on record. The company has 3 deals on record (2 funding rounds, 1 secondary share transfer), with disclosed funding of ₹86.57 Cr; the latest was in December 2024. Its 10 peer companies in the Information Technology industry (Electronic Equipment and Components Manufacturing) are compared by revenue, 5 larger and 5 smaller; the largest is Pryageshwar E-Trade Private Limited with revenue of ₹3.02 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 mindgrovetech.in.
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- Registered AddressNo. 12B Vedanta Desikar Swamy Street Mylapore, Chennai, Tamil Nadu, India – 600004
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
- 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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Financials of Mindgrove Technologies Private Limited FY 2025 filings available
Mindgrove Technologies Private Limited reported revenue of ₹3 Cr (up 345% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Mindgrove Technologies Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 132% over three years, including 345% growth in the latest year. EBITDA rose 28% 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 Mindgrove Technologies 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 | -₹7.72 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹7.87 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 | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Mindgrove Technologies Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -257.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -262.2% | •••• | •••• | •••• | •••• |
| 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 Mindgrove 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 Mindgrove Technologies Private Limited
Mindgrove Technologies Private Limited is compared with the companies closest to it by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Pryageshwar E-Trade Private Limited | ₹3.02 Cr (FY 2025) | •••• | •••• | 26.0% | •••• | Mumbai, Maharashtra, India |
| Igrphenix Electron Private Limited | ₹3.02 Cr (FY 2024) | •••• | •••• | -39.0% | •••• | New Delhi, Delhi, India |
| Bryka Electrosystems and Software Private Limited | ₹3.01 Cr (FY 2025) | •••• | •••• | 53.0% | •••• | Mumbai, Maharashtra, India |
| Endel Digital Solutions Private Limited | ₹3.01 Cr (FY 2025) | •••• | •••• | 23.0% | •••• | Sanand, Gujarat, India |
| Amiure International Private Limited | ₹3 Cr (FY 2025) | •••• | •••• | 31.0% | •••• | Patna, Bihar, India |
| Mindgrove Technologies Private Limited this company | ₹3 Cr (FY 2025) | •••• | •••• | 345.0% | •••• | Chennai, Tamil Nadu, India |
| Innatera Nanosystems India Private Limited | ₹3 Cr (FY 2025) | •••• | •••• | -30.0% | •••• | Bangalore, Karnataka, India |
| Etherlog Solutions Private Limited | ₹2.99 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Puducherry, India |
| Bihar Communications Private Limited | ₹2.98 Cr (FY 2025) | •••• | •••• | 105.0% | •••• | Patna, Bihar, India |
| Intech Dosimeters Private Limited | ₹2.97 Cr (FY 2025) | •••• | •••• | 130.0% | •••• | New Delhi, Delhi, India |
| Antech Sensor Industries Private Limited | ₹2.97 Cr (FY 2025) | •••• | •••• | 19.0% | •••• | Mehsana, Gujarat, India |
Peers are the five companies nearest above and the five nearest below Mindgrove Technologies by revenue in the Information Technology industry (Electronic Equipment and Components Manufacturing), 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 Mindgrove Technologies Private Limited
Mindgrove Technologies Private Limited is audited by G N & Co Chartered accountants for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| G N & Co Chartered accountants | 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 Mindgrove Technologies Private Limited
Mindgrove Technologies has 5 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Parthasarathy Namakal Srinivasan | Nominee Director | 31 Mar 2025 | 1 Years 6 Months | Current |
| Visesh Rajaram Also directs: Speciale Incept Advisors LLP, Speciale Incept Growth Advisors LLP, Fermbox Bio Private Limited and 5 more | Nominee Director | 31 Mar 2025 | 1 Years 6 Months | Current |
| Jagathrakshakan Sharan Srinivas | Director | 01 May 2021 | 5 Years 5 Months | Current |
| Thirukkarugavoor Ramkumar Shashwath | Director | 05 Feb 2021 | 5 Years 8 Months | Current |
| Srinivasan Sharanya Also directs: B.M.Ceramics Private Limited, Contextbuild Private Limited | Director | 05 Feb 2021 | 5 Years 8 Months | Current |
Ownership and Shareholding of Mindgrove 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 Mindgrove Technologies Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 09 Jun 2023 | Others | ₹4 Lakh | Open |
| 27 Feb 2024 | State Bank of India | ₹40 Lakh | Satisfied |
Total charge records: 2 View all charges
Deals & Funding of Mindgrove Technologies Private Limited
Mindgrove Technologies Private Limited has 3 deals on record (2 funding rounds, 1 secondary share transfer), with disclosed funding of ₹86.57 Cr; the latest was in December 2024.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2024 | Funding round · Series A | ₹67.5 Cr | Investors: Rocketship VC, Mela Ventures, Speciale Invest |
| Feb 2023 | Funding round | ₹19.06 Cr | Investors: Peak XV Partners (Sequoia India and SEA), Speciale Invest, Whiteboard Capital |
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 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 Mindgrove Technologies Private Limited
Mindgrove Technologies operates one associated brand: Mindgrove. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| System-on-chips for connected applications and secure IoT devices are developed. | mindgrovetech.in |
Employees and EPFO Compliance at Mindgrove Technologies Private Limited
Mindgrove Technologies Private Limited has a workforce of 36 employees as of Sep 08, 2025.
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 Mindgrove Technologies Private Limited
Recent Activity on Mindgrove Technologies Private Limited
Mindgrove Technologies Private Limited has 6 board changes on record since 2021: 5 appointments and 1 cessation. The latest: Parthasarathy Namakal Srinivasan was appointed as Nominee Director on 31 Mar 2025.
Credit Ratings, Litigation & Regulatory Alerts for Mindgrove 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 Mindgrove 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
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Mindgrove 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
Verified entity values are shown only after access is granted.
GST Compliance of Mindgrove Technologies Private Limited
Mindgrove Technologies has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 33AAOCM2751M1Z4 | Tamil Nadu | Active | 12 Aug 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 Mindgrove 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 Mindgrove Technologies Private Limited
Mindgrove Technologies is an active private limited company based in Chennai, Tamil Nadu, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 05 February 2021 (5+ years old) and is registered under CIN U29100TN2021PTC141187.
Mindgrove Technologies reported revenue of ₹3 Cr for FY 2025 (up 345% YoY).
Mindgrove Technologies has 5 current directors:
- Parthasarathy Namakal Srinivasan - Nominee Director
- Visesh Rajaram - Nominee Director
- Jagathrakshakan Sharan Srinivas - Director
- Thirukkarugavoor Ramkumar Shashwath - Director
- Srinivasan Sharanya - Director
Mindgrove Technologies reported a net loss of ₹7.87 Cr (net margin -262.2%) and EBITDA of -₹7.72 Cr (EBITDA margin -257.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Mindgrove Technologies is 132% over three years. In the latest year (FY 2025) revenue rose 345%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Mindgrove Technologies is 33AAOCM2751M1Z4, registered in Tamil Nadu.
The CIN (Corporate Identification Number) of Mindgrove Technologies is U29100TN2021PTC141187. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mindgrove Technologies was incorporated on 05 February 2021, making it 5+ years old. It is registered with the Registrar of Companies, Chennai.
Mindgrove Technologies has 3 deals on record (2 funding rounds, 1 secondary share transfer), with disclosed funding of ₹86.57 Cr; the latest was in December 2024.
The peers of Mindgrove Technologies by revenue are Pryageshwar E-Trade Private Limited, Igrphenix Electron Private Limited, Bryka Electrosystems and Software Private Limited, Endel Digital Solutions Private Limited, Amiure International Private Limited and 5 more, all in the Information Technology industry (Electronic Equipment and Components Manufacturing).
Parthasarathy Namakal Srinivasan was appointed as Nominee Director on 31 Mar 2025. Visesh Rajaram was appointed as Nominee Director on 31 Mar 2025. Jagathrakshakan Sharan Srinivas ceased to be Additional Director on 27 Dec 2022. Mindgrove Technologies has 6 board changes on record in total.