About Morningstar Investment Research India Private Limited
Data last updated:
Morningstar Investment Research India Private Limited is a foreign private limited company based in Navi Mumbai, Maharashtra, India, a subsidiary of Morningstar Investment Management Llc. It operates in the diversified financial services segment of the financial services sector. It was incorporated on 09 October 2013 and has been in existence for over 13 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74120MH2013FTC249024. Its GSTIN is 27AAICM8542J1Z0 (Maharashtra).
The company has an authorised share capital of ₹31 Cr and a paid-up capital of ₹30.94 Cr. It is led by directors including Aditya Agarwal and Divya Pillai Rajivkumar.
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 Platinum Tecno Park 9th Floor Plot No 17 & 18 Sector – 30A Vashi, Navi Mumbai, Maharashtra, India – 400705.
As per the financials filed for FY 2025, the company reported a revenue of ₹8.02 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net profit of ₹4.58 Cr (net margin 57.1%) and EBITDA of ₹4.53 Cr (EBITDA margin 56.5%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 45% over five years.
The company has about 5 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Morningstar. Court records list 2 cases involving the company, including 1 filed by the company and 1 filed against it.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website morningstar.com.
Company details
Contact details
Morningstar Investment Research India Private Limited's registered office is in Navi Mumbai, Maharashtra. Its website is morningstar.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressPlatinum Tecno Park 9th Floor Plot No 17 & 18 Sector – 30A Vashi, Navi Mumbai, Maharashtra, India – 400705
- IndustryFinancial Services, Diversified Financial Services
To see the full contact details of Morningstar Investment Research India 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
Brands
Morningstar Investment Research India operates one associated brand: Morningstar. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Financial data and investment advisory tools are offered online. | morningstar.com |
Business activity
The main business activity of Morningstar Investment Research India is financial and insurance activities. In detail, this covers activities auxiliary to financial service and insurance activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance activities | 66 | Activities auxiliary to financial service and insurance activities |
To see the full business activity and turnover split of Morningstar Investment Research India Private Limited, buy the company report.
Financials of Morningstar Investment Research India Private Limited
FY 2025 filings availableMorningstar Investment Research India Private Limited reported revenue of ₹8.02 Cr (up 8% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 45% over five years, including 8% growth in the latest year. EBITDA rose 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
| 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 | ₹4.53 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹4.58 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 | 56.5% | ||||
| Net Profit Margin | 57.1% | ||||
| 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 Morningstar Investment Research India Private Limited, buy the company report.
Board of directors of Morningstar Investment Research India Private Limited
Morningstar Investment Research India has 4 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Aditya Agarwal Also directs: Morningstar India Private Limited | Director | 09 Oct 2013 | 13 Years 0 Months | Current |
| Divya Pillai Rajivkumar Also directs: Morningstar India Private Limited | Director | 29 Aug 2023 | 3 Years 1 Months | Current |
| Craig Leigh Hutcheson Also directs: Morningstar India Private Limited | Director | 26 May 2022 | 4 Years 5 Months | Current |
| Kaustubh Uday Belapurkar | Additional Director | 12 Mar 2025 | 1 Years 7 Months | Current |
Auditor
Morningstar Investment Research India Private Limited is audited by A S B & ASSOCIATES for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A S B & ASSOCIATES | FY 2025 | 134676W |
Shareholding
The shareholding of Morningstar Investment Research India 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 Morningstar Investment Research India Private Limited, buy the company report.
Legal cases
Morningstar Investment Research India Private Limited has 2 court cases on record: 1 filed by Morningstar Investment Research India, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 1 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Chennai, Tamil Nadu | Civil suit | Filed against the company by Boopathy Associates Pvt.Ltd., | Disposed |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CHAMBER SUMMONS) | Filed by the company against Faisal Aftab and Ors - Applicant - Ms Sahil Herbal Pvt Ltd | Disposed |
To see the full case history of Morningstar Investment Research India 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 Morningstar Investment Research India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Morningstar Investment Research India Private Limited has a workforce of 5 employees on its EPFO records as of Feb 11, 2026, across 1 active EPFO establishment.
GST
Morningstar Investment Research India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAICM8542J1Z0 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Morningstar Investment Research India Private Limited, buy the company report.
Recent activity
Morningstar Investment Research India Private Limited has 10 board changes on record since 2013: 6 appointments and 4 cessations. The latest: Kaustubh Uday Belapurkar was appointed as Additional Director on 12 Mar 2025.
1 earlier event is in the company report.
News
Frequently asked questions
Morningstar Investment Research India is an active foreign private limited company based in Navi Mumbai, Maharashtra, India. The company works in diversified financial services, within the financial services industry. It was incorporated on 09 October 2013 (13+ years old) and is registered under CIN U74120MH2013FTC249024.
Morningstar Investment Research India has 4 current directors:
- Aditya Agarwal - Director
- Divya Pillai Rajivkumar - Director
- Craig Leigh Hutcheson - Director
- Kaustubh Uday Belapurkar - Additional Director
The latest financial statements of Morningstar Investment Research India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 16 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Morningstar Investment Research India is 27AAICM8542J1Z0, registered in Maharashtra.
The CIN (Corporate Identification Number) of Morningstar Investment Research India is U74120MH2013FTC249024. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Morningstar Investment Research India has 2 court cases on record: 1 filed by the company and 1 filed against it.
Morningstar Investment Research India was incorporated on 09 October 2013, making it 13+ years old. It is registered with the Registrar of Companies, Mumbai.
Kaustubh Uday Belapurkar was appointed as Additional Director on 12 Mar 2025. Divya Pillai Rajivkumar ceased to be Additional Director on 13 Sep 2023. Divya Pillai Rajivkumar was appointed as Director on 29 Aug 2023. Morningstar Investment Research India has 10 board changes on record in total.
Morningstar Investment Research India can be reached through the website morningstar.com. Its registered office is in Navi Mumbai, Maharashtra, India.
The registered office of Morningstar Investment Research India is at Platinum Tecno Park 9th Floor Plot No 17 & 18 Sector – 30A Vashi, Navi Mumbai, Maharashtra, India – 400705.