About Mindsarray Network Private Limited
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Mindsarray Network Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 17 July 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U51909MH2019PTC328157. Its GSTIN is 27AAMCM8184C1Z5 (Maharashtra). The company holds 4 GST registrations, all of them active.
The company has an authorised share capital of ₹6 Cr and a paid-up capital of ₹5.01 Cr. It is led by directors including Ashish Arya and Vinit Raghunath Khanvilkar.
Its last annual general meeting (AGM) was held on 20 August 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 ₹555.1 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹3.42 Cr (net margin 0.6%) and EBITDA of ₹9.79 Cr (EBITDA margin 1.8%). Revenue has grown at a compounded annual rate (CAGR) of 16% over three years and 34% over five years.
The company has about 266 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Pay1. As per MCA filings, the company has open charges of ₹1.51 Cr and satisfied charges of ₹1 Lakh on record. Court records list 15 cases involving the company, including 15 filed by the company; 11 cases are pending. The company has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2024. Its 6 peer companies in the BFSI industry (Payment Solution Providers), with the same principal business activity (other information & communication service activities) are compared by revenue, 3 larger and 3 smaller; the largest is My Pay Store Private Limited with revenue of ₹658.92 Cr.
For more details, the company can be reached via its website pay1.in.
Company details
Contact details
Mindsarray Network Private Limited's registered office is in Mumbai, Maharashtra. Its website is pay1.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address17th Floor A 1701 Jp Decks General A K Vaidya Marg, Near Oberoi Mall Next To Dindoshi Court Malad (E) 400097, Mumbai, Maharashtra, India – 400097
- IndustryFinancial Services, Digital Payment Solutions
To see the full contact details of Mindsarray Network Private Limited, buy the company report.
- 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
Business activity
The main business activity of Mindsarray Network is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Mindsarray Network Private Limited, buy the company report.
Financials of Mindsarray Network Private Limited
FY 2025 filings availableMindsarray Network Private Limited reported revenue of ₹555.1 Cr (up 9% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 34% over five years, including 9% growth in the latest year. EBITDA rose 217% 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 | ₹9.79 Cr | ||||
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| Net Profit (PAT) | ₹3.42 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 1.8% | ||||
| Net Profit Margin | 0.6% | ||||
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To see the full financial statements and ratios of Mindsarray Network Private Limited, buy the company report.
Board of directors of Mindsarray Network Private Limited
Mindsarray Network has 5 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashish Arya | Director | 17 Jul 2019 | 7 Years 3 Months | Current |
| Vinit Raghunath Khanvilkar | Director | 17 Jul 2019 | 7 Years 3 Months | Current |
| Abhinav Mathur | Director | 17 Jul 2019 | 7 Years 3 Months | Current |
| Alakh Naresh Gargiya | Director | 17 Jul 2019 | 7 Years 3 Months | Current |
| Chirutha Jaybandhu Dalal | Director | 17 Jul 2019 | 7 Years 3 Months | Current |
Peer comparison
Mindsarray Network Private Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Payment Solution Providers), with the same principal business activity (other information & communication service activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| My Pay Store Private Limited | ₹658.92 Cr (FY 2025) | 125.0% | Gondal, Gujarat, India | |||
| Better World Technology Private Limited | ₹604.88 Cr (FY 2025) | -33.0% | Mumbai, Maharashtra, India | |||
| Aashi Connect Private Limited | ₹576.1 Cr (FY 2025) | 4.0% | Katni, Madhya Pradesh, India | |||
| Mindsarray Network Private Limitedthis company | ₹555.1 Cr (FY 2025) | ₹3.42 Cr | 0.6% | 9.0% | 266 | Mumbai, Maharashtra, India |
| Juspay Technologies Private Limited | ₹539.52 Cr (FY 2025) | 55.0% | Bengaluru, Karnataka, India | |||
| TFC Digital Private Limited | ₹514.34 Cr (FY 2025) | 17.0% | New Delhi, Delhi, India | |||
| Indicore Infocomm Private Limited | ₹474.05 Cr (FY 2025) | 38.0% | New Delhi, Delhi, India |
To see the full peer comparison of Mindsarray Network Private Limited, buy the company report.
Auditor
Mindsarray Network Private Limited is audited by SUCHITA ANGANE & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SUCHITA ANGANE & ASSOCIATES | FY 2023 | 146937W |
Shareholding
The shareholding of Mindsarray Network Private Limited is on record for 4 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 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of Mindsarray Network Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Mar 2025 | 101072834 | Others | ₹14.5 Lakh | Open | |
| 27 Dec 2023 | 100861290 | Others | ₹24.35 Lakh | Open | |
| 31 May 2023 | 100740921 | Others | ₹34 Lakh | Open | |
| 03 Oct 2022 | 100644076 | Others | ₹14 Lakh | Open | |
| 28 Aug 2022 | 100618640 | Others | ₹29.83 Lakh | Open |
To see the full charge records of Mindsarray Network Private Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Mindsarray Network Private Limited has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2024.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2024 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Patan Finance and Investment Co. Limited |
| Mar 2024 | Rights issue | ₹5 Cr | Investors: 4 individuals |
| Mar 2020 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 3 individuals |
| Dec 2019 | Rights issue | ₹38 Lakh | Investors: Patan Finance and Investment Co. Limited , 3 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mindsarray Network Private Limited has 15 court cases on record: 15 filed by Mindsarray Network. 11 cases are pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 12 | 0 | 11 |
| High courts | 3 | 0 | 0 |
Cases on record (5 of 15)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against M/S. Eumec Private Limited and 2 others | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against S M Enterprises Through Subramani Muniswamy and 1 Other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed by the company against an individual | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against an individual | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against an individual | Pending |
To see the full case history of Mindsarray Network 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Mindsarray Network Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Mindsarray Network Private Limited has a workforce of 266 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
Mindsarray Network has 4 GST registrations: 4 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAMCM8184C1Z5 | Maharashtra | Active | 01 Oct 2019 |
| 36AAMCM8184C1Z6 | Telangana | Active | 05 Sep 2022 |
| 23AAMCM8184C1ZD | Madhya Pradesh | Active | 30 Nov 2022 |
| 09AAMCM8184C1Z3 | Uttar Pradesh | Active | 15 Apr 2024 |
To see the full GST registrations and return filing status of Mindsarray Network Private Limited, buy the company report.
Recent activity
Mindsarray Network Private Limited has 10 board changes on record since 2019: 5 appointments and 5 cessations. The latest: Alakh Naresh Gargiya ceased to be Director on 14 Dec 2019.
9 earlier events are in the company report.
Frequently asked questions
Mindsarray Network is an active private limited company based in Mumbai, Maharashtra, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 17 July 2019 (7+ years old) and is registered under CIN U51909MH2019PTC328157.
Mindsarray Network has 5 current directors:
- Ashish Arya - Director
- Vinit Raghunath Khanvilkar - Director
- Abhinav Mathur - Director
- Alakh Naresh Gargiya - Director
- Chirutha Jaybandhu Dalal - Director
The latest financial statements of Mindsarray Network on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 20 August 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Mindsarray Network is 27AAMCM8184C1Z5, registered in Maharashtra. The company has 4 GST registrations in all, of which 4 are active. Other active GSTINs include 36AAMCM8184C1Z6 (Telangana), 23AAMCM8184C1ZD (Madhya Pradesh), 09AAMCM8184C1Z3 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Mindsarray Network is U51909MH2019PTC328157. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mindsarray Network has 15 court cases on record: 15 filed by the company. 11 are pending. Most are in the district courts.
Mindsarray Network was incorporated on 17 July 2019, making it 7+ years old. It is registered with the Registrar of Companies, Mumbai.
Mindsarray Network has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2024.
The peers of Mindsarray Network by revenue are My Pay Store Private Limited, Better World Technology Private Limited, Aashi Connect Private Limited, Juspay Technologies Private Limited, TFC Digital Private Limited and 1 more, all in the BFSI industry (Payment Solution Providers), with the same principal business activity (other information & communication service activities).
Alakh Naresh Gargiya ceased to be Director on 14 Dec 2019. Ashish Arya ceased to be Director on 04 Dec 2019. Chirutha Jaybandhu Dalal ceased to be Director on 04 Dec 2019. Mindsarray Network has 10 board changes on record in total.
Mindsarray Network can be reached through the website pay1.in. Its registered office is in Mumbai, Maharashtra, India.
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