MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0027724
Mistral Solutions Private Limited - information technology in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹380.44 Cr
▲ 16% YoY
Net profit · FY 2025
₹52.82 Cr
Net margin 13.9%
EBITDA · FY 2025
₹80.1 Cr
EBITDA margin 21.1%
Authorised capital
₹3.5 Cr
Registered with MCA
Paid-up capital
₹2.09 Cr
Issued & subscribed
Open charges
₹596.38 Cr
Satisfied ₹1.85 Cr
Company age
27 yrs
Est. 1999
Employees · EPFO
547
Provident fund records
About Mistral Solutions Private Limited
Data last updated:
Mistral Solutions Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Axiscades Technologies Limited. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 20 May 1999 and has been in existence for over 27 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA1999PTC025232. Its GSTIN is 29AABCM8832C1ZH (Karnataka). The company holds 4 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹3.5 Cr and a paid-up capital of ₹2.09 Cr. It was formerly known as Mistral Software Private Limited. It is led by directors including Chidhambaram Manikandan (Managing Director) and Shashidhar Srirangapatna Krishnamurthy.
Its last annual general meeting (AGM) was held on 23 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at #60 Adarsh Regent100 Feet Ring Road Domlur, Bangalore, Karnataka, India – 560071.
As per the financials filed for FY 2025, the company reported a revenue of ₹380.44 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net profit of ₹52.82 Cr (net margin 13.9%) and EBITDA of ₹80.1 Cr (EBITDA margin 21.1%). Revenue has grown at a compounded annual rate (CAGR) of 25% over three years and 22% over five years.
The company has about 547 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
As per MCA filings, the company has open charges of ₹596.38 Cr and satisfied charges of ₹1.85 Cr on record. Court records list 9 cases involving the company, including 5 filed by the company and 4 filed against it; 1 case is pending.
Mistral Solutions Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0027724). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mistralsolutions.com.
Company details
CIN U72200KA1999PTC025232
Registration Number 025232
Incorporation Date 20 May 1999
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 23 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Axiscades Technologies Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0027724
Key People
Chidhambaram Manikandan Managing Director Shashidhar Srirangapatna Krishnamurthy Director Khandavalli Madhavi Director Recognitions & Rankings of Mistral Solutions
Contact details
Mistral Solutions Private Limited's registered office is in Bangalore, Karnataka. Its website is mistralsolutions.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address#60 Adarsh Regent100 Feet Ring Road Domlur, Bangalore, Karnataka, India – 560071
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Mistral Solutions Private Limited, buy the company report.
Comprehensive company report
Mistral Solutions Private Limited - one report that includes everything
- 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
The main business activity of Mistral Solutions is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Mistral Solutions Private Limited, buy the company report.
Financials of Mistral Solutions Private Limited
FY 2025 filings availableMistral Solutions Private Limited reported revenue of ₹380.44 Cr (up 16% YoY) for FY 2025.
Revenue · FY 2025
₹380.44 Cr ▲ 16%
Net profit · FY 2025
₹52.82 Cr margin 13.9%
EBITDA · FY 2025
₹80.1 Cr margin 21.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 16%
3 years · compounded
▲ 25%
5 years · compounded
▲ 22%
EBITDA CAGR growth
1 year
▲ 36%
3 years · compounded
▲ 28%
5 years · compounded
▲ 33%
Revenue has grown at a compounded annual rate (CAGR) of 22% over five years, including 16% growth in the latest year. EBITDA rose 36% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹380.44 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹80.1 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹52.82 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 21.1% | ||||
| Net Profit Margin | 13.9% | ||||
| 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 | |||||
To see the full financial statements and ratios of Mistral Solutions Private Limited, buy the company report.
Board of directors of Mistral Solutions Private Limited
Mistral Solutions has 8 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shashidhar Srirangapatna Krishnamurthy | Director | 01 Dec 2022 | 3 Years 11 Months | Current |
| Chidhambaram Manikandan | Managing Director | 12 Aug 2026 | 0 Years 2 Months | Current |
| Khandavalli Madhavi | Director | 10 Jan 2025 | 1 Years 10 Months | Current |
| Muralikrishnan | Director | 23 Dec 2024 | 1 Years 10 Months | Current |
| Codanda Poovaiah Cariappa Also directs: Axiscades Technologies Limited | Director | 15 Oct 2024 | 2 Years 0 Months | Current |
| Sampath Ravinarayanan Also directs: Axiscades Technologies Limited, Aerospace Resource Needs LLP, Microcon Machine Tech Private Limited and 1 more | Director | 12 Oct 2024 | 2 Years 0 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Mistral Solutions Private Limited is compared with the 5 companies closest to it by revenue in the Engineering industry (Engineering Design, IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| PC Solutions Private Limited | ₹404.13 Cr (FY 2025) | 24.0% | New Delhi, Delhi, India | |||
| Orion India Systems Private Limited | ₹403.3 Cr (FY 2025) | 15.0% | Mumbai, Maharashtra, India | |||
| Xchanging Technology Services India Private Limited | ₹402.62 Cr (FY 2025) | -11.0% | New Delhi, Delhi, India | |||
| Nec Software Solutions (India) Private Limited | ₹391.52 Cr (FY 2025) | 7.0% | Mumbai, Maharashtra, India | |||
| Herman Miller Furniture (India) Private Limited | ₹385.11 Cr (FY 2025) | 10.0% | Bangalore, Karnataka, India | |||
| Mistral Solutions Private Limitedthis company | ₹380.44 Cr (FY 2025) | ₹52.82 Cr | 13.9% | 16.0% | 554 | Bangalore, Karnataka, India |
To see the full peer comparison of Mistral Solutions Private Limited, buy the company report.
Auditor
Mistral Solutions Private Limited is audited by B S R & Associates LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Associates LLP | FY 2024 | 101049W/E300004 |
Shareholding
The shareholding of Mistral Solutions Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | 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 Mistral Solutions Private Limited, buy the company report.
Charges & borrowings
Open charges
₹596.38 Cr
Satisfied charges
₹1.85 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Sep 2026 | 101406939 | Others | ₹200 Cr | Open | |
| 20 Dec 2024 | 101029664 | Others | ₹50 Cr | Open | |
| 16 May 2024 | 100922884 | Others | ₹60 Cr | Open | |
| 05 Jun 2023 | 100736718 | Others | ₹210 Cr | Open | |
| 26 Mar 2019 | 100254846 | Hdfc Bank Limited | ₹27 Cr | Open |
To see the full charge records of Mistral Solutions Private Limited, buy the company report.
Total charge records: 11 View all charges
Legal cases
Mistral Solutions Private Limited has 9 court cases on record: 5 filed by Mistral Solutions, 4 filed against it. 1 case is pending and 8 are disposed.
Total cases
9
Filed by the company
5
Filed against the company
4
Pending
1
Disposed
8
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 8 | 3 | 0 |
| District courts | 1 | 1 | 1 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South East, Delhi | Commercial suit | Filed against the company by Kamay Solutions (Proprietor Seema Arora) | Pending |
| High Court of Karnataka | Tax appeal | Filed against the company by Commissioner of Income Tax | Disposed |
| High Court of Karnataka | Appeal | Filed against the company by Mistral Solutions Private Limited | Disposed |
| High Court of Karnataka | Appeal | Filed by the company against an individual | Disposed |
| High Court of Karnataka | Court case (COP) | Filed by the company against an individual | Disposed |
To see the full case history of Mistral Solutions 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
Mistral Solutions Private Limited has 14 MSME Form 1 returns on record between 2019 and 2024, listing 635 overdue payments to 51 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 51)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Podrain Electronics Private Limited | |||
| Hi-Rel Tech Private Limited | |||
| Deraz Engineers | |||
| an individual supplier |
To see the full MSME payment records of Mistral Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Mistral Solutions has 2 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
2
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Aero Electronics Private Limited | U72211KA2010PTC056180 | |
| Mistral Technologies Private Limited | U72300KA2014PTC191228 |
To see the full group structure of Mistral Solutions Private Limited, buy the company report.
Employees & EPFO
Mistral Solutions Private Limited has a workforce of 554 employees on its EPFO records as of Sep 15, 2025, across 2 active EPFO establishments.
Employee count
554
Active EPFO establishments
2
Employee growth
0.91%
GST
Mistral Solutions has 4 GST registrations: 3 active and 1 cancelled or inactive.
Total GSTINs
4
Active
3
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCM8832C1ZH | Karnataka | Active | 01 Jul 2017 |
| 36AABCM8832C1ZM | Telangana | Active | 01 Jul 2017 |
| 33AABCM8832C1ZS | Tamil Nadu | Active | 19 Nov 2021 |
To see the full GST registrations and return filing status of Mistral Solutions Private Limited, buy the company report.
Recent activity
Mistral Solutions Private Limited has 34 board changes on record since 2008: 11 appointments and 23 cessations. The latest: Chidhambaram Manikandan was appointed as Managing Director on 12 Aug 2026.
Charges
A charge with Others amounted to Rs. 200.00 Cr with Charge ID 101406939 was registered on 18 Sep 2026.
Charges
A charge with Others of Rs. 60.00 Cr registered on 16 May 2024 with Charge ID 100922884 was modified on 17 Sep 2026.
Appointed
Chidhambaram Manikandan was appointed as Managing Director.
AGM
Mistral Solutions Private Limited last Annual general meeting of members was held on 23 Sep 2025 as per latest MCA records.
Ceased
Muralikrishnan ceased to be CEO.
Filing
Mistral Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Khandavalli Madhavi was appointed as Director.
Appointed
Muralikrishnan was appointed as Director.
Charges
A charge with Others amounted to Rs. 50.00 Cr with Charge ID 101029664 was registered on 20 Dec 2024.
Appointed
Subburaman Suresh Kumar was appointed as CFO.
Appointed
Venkatraman Venkitachalam was appointed as Director.
Appointed
Codanda Poovaiah Cariappa was appointed as Director.
44 earlier events are in the company report.
News
Frequently asked questions
Mistral Solutions is an active private limited company based in Bangalore, Karnataka, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 20 May 1999 (27+ years old) and is registered under CIN U72200KA1999PTC025232.
Mistral Solutions has 8 current directors:
- Chidhambaram Manikandan - Managing Director
- Shashidhar Srirangapatna Krishnamurthy - Director
- Khandavalli Madhavi - Director
- Muralikrishnan - Director
- Codanda Poovaiah Cariappa - Director
- Sampath Ravinarayanan - Director
- Venkatraman Venkitachalam - Director
- Tanmoy Chakrabarty - Director
The latest financial statements of Mistral Solutions on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 23 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Mistral Solutions is 29AABCM8832C1ZH, registered in Karnataka. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 36AABCM8832C1ZM (Telangana), 33AABCM8832C1ZS (Tamil Nadu).
The CIN (Corporate Identification Number) of Mistral Solutions is U72200KA1999PTC025232. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mistral Solutions has 9 court cases on record: 5 filed by the company and 4 filed against it. 1 is pending. Most are in the high courts.
Mistral Solutions was incorporated on 20 May 1999, making it 27+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Mistral Solutions by revenue are PC Solutions Private Limited, Orion India Systems Private Limited, Xchanging Technology Services India Private Limited, Nec Software Solutions (India) Private Limited, Herman Miller Furniture (India) Private Limited, all in the Engineering industry (Engineering Design, IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities).
Chidhambaram Manikandan was appointed as Managing Director on 12 Aug 2026. Muralikrishnan ceased to be CEO on 30 Jul 2025. Khandavalli Madhavi was appointed as Director on 10 Jan 2025. Mistral Solutions has 34 board changes on record in total.
Yes, Mistral Solutions is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0027724).
Mistral Solutions has 14 MSME Form 1 returns on record between 2019 and 2024, listing 635 overdue payments to 51 micro and small suppliers. The latest return was filed on 29 Apr 2024.
Mistral Solutions can be reached through the website mistralsolutions.com. Its registered office is in Bangalore, Karnataka, India.
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