About M-Panels Research Services Private Limited
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M-Panels Research Services Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of M3 Medical Holdings Limited. It operates in the pharma contract r and d segment of the pharmaceuticals sector. It was incorporated on 19 October 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U73100KA2019PTC128929. Its GSTIN is 29AANCM0182F1ZC (Karnataka).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹1 Cr. It is led by directors including Christopher James Thiele and Anton Alexander Richter.
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 Cristu Complex No.41 Lavelle Road, Bangalore, Karnataka, India – 560001.
As per the financials filed for FY 2025, the company reported a revenue of ₹175.23 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net profit of ₹14.88 Cr (net margin 8.5%) and EBITDA of ₹32.62 Cr (EBITDA margin 18.6%). Revenue has grown at a compounded annual rate (CAGR) of 7% over three years and 107% over five years.
The company has about 267 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: M Panels and m360 Research. Court records list 9 cases involving the company, including 1 filed by the company and 8 filed against it; 1 case is pending.
For more details, the company can be reached via its website m-panels.com.
Company details
Contact details
M-Panels Research Services Private Limited's registered office is in Bangalore, Karnataka. Its website is m-panels.com. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressCristu Complex No.41 Lavelle Road, Bangalore, Karnataka, India – 560001
- IndustryPharma, Pharma Contract R&D
To see the full contact details of M-Panels Research Services 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
M-Panels Research Services operates two associated brands: M Panels and m360 Research. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides a platform for healthcare professionals to share opinions via surveys and interviews. | m-panels.com | |
| Provides healthcare market research, data analytics, and online communities services. | m360research.com |
Business activity
The main business activity of M-Panels Research Services is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities |
To see the full business activity and turnover split of M-Panels Research Services Private Limited, buy the company report.
Financials of M-Panels Research Services Private Limited
FY 2025 filings availableM-Panels Research Services Private Limited reported revenue of ₹175.23 Cr (down 1% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 1% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 107%. EBITDA fell 20% 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 | ₹32.62 Cr | ||||
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| Net Profit (PAT) | ₹14.88 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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| EBITDA Margin | 18.6% | ||||
| Net Profit Margin | 8.5% | ||||
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To see the full financial statements and ratios of M-Panels Research Services Private Limited, buy the company report.
Board of directors of M-Panels Research Services Private Limited
M-Panels Research Services has 3 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Christopher James Thiele | Director | 30 Jun 2021 | 5 Years 4 Months | Current |
| Anton Alexander Richter | Director | 18 Mar 2020 | 6 Years 7 Months | Current |
| Dushyant Kumar Gupta | Director | 15 Jan 2025 | 1 Years 9 Months | Current |
Auditor
M-Panels Research Services Private Limited is audited by VASANTH & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VASANTH & CO | FY 2023 | 008204S |
Shareholding
The shareholding of M-Panels Research Services Private Limited is on record for 4 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of M-Panels Research Services Private Limited, buy the company report.
Legal cases
M-Panels Research Services Private Limited has 9 court cases on record: 1 filed by M-Panels Research Services, 8 filed against it. 1 case is pending and 8 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 8 | 0 |
| High courts | 1 | 0 | 1 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against an individual | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by an individual | Disposed |
To see the full case history of M-Panels Research Services 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 M-Panels Research Services Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
M-Panels Research Services Private Limited has a workforce of 267 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
M-Panels Research Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AANCM0182F1ZC | Karnataka | Active | 04 Dec 2019 |
To see the full GST registrations and return filing status of M-Panels Research Services Private Limited, buy the company report.
Recent activity
M-Panels Research Services Private Limited has 8 board changes on record since 2020: 3 appointments and 5 cessations. The latest: Dushyant Kumar Gupta ceased to be Additional Director on 23 Sep 2025.
Frequently asked questions
M-Panels Research Services is an active private limited company based in Bangalore, Karnataka, India. The company works in pharma contract r and d, within the pharma industry. It was incorporated on 19 October 2019 (7+ years old) and is registered under CIN U73100KA2019PTC128929.
M-Panels Research Services has 3 current directors:
- Christopher James Thiele - Director
- Anton Alexander Richter - Director
- Dushyant Kumar Gupta - Director
The latest financial statements of M-Panels Research Services on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 24 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of M-Panels Research Services is 29AANCM0182F1ZC, registered in Karnataka.
The CIN (Corporate Identification Number) of M-Panels Research Services is U73100KA2019PTC128929. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
M-Panels Research Services has 9 court cases on record: 1 filed by the company and 8 filed against it. 1 is pending. Most are in the district courts.
M-Panels Research Services was incorporated on 19 October 2019, making it 7+ years old. It is registered with the Registrar of Companies, Bangalore.
Dushyant Kumar Gupta ceased to be Additional Director on 23 Sep 2025. Dushyant Kumar Gupta was appointed as Director on 15 Jan 2025. Amrutha Naveen ceased to be Additional Director on 21 Sep 2021. M-Panels Research Services has 8 board changes on record in total.
M-Panels Research Services can be reached through the website m-panels.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of M-Panels Research Services is at Cristu Complex No.41 Lavelle Road, Bangalore, Karnataka, India – 560001.
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