About More Retail Private Limited
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More Retail Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Witzig Advisory Services Private Limited. It operates in the hypermarkets and large retail chains segment of the consumer services sector. It was incorporated on 14 July 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U65990MH1988PTC048117. Its GSTIN is 27AAACP2678Q1ZQ (Maharashtra). The company holds 28 GST registrations, of which 21 are active.
The company has an authorised share capital of ₹8,500 Cr and a paid-up capital of ₹459.29 Cr. It was formerly known as Aditya Birla Retail Limited and Pushpak Finance and Investments Limited. It is led by directors including Vinod Nambiar (Managing Director) and Vikram Ranjan Agarwal.
Its last annual general meeting (AGM) was held on 30 September 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 ₹4,701.32 Cr, a growth of 14% compared to the previous year. For the same year it recorded a net loss of ₹248.93 Cr (net margin -5.3%) and EBITDA of ₹141.82 Cr (EBITDA margin 3%). Revenue has declined at a compounded annual rate (CAGR) of 2% over three years and 1% over five years.
The company has about 9,436 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹578.45 Cr and satisfied charges of ₹8,887.95 Cr on record. Court records list 384 cases involving the company, including 187 filed by the company and 197 filed against it; 72 cases are pending. The company has 14 deals on record (5 funding rounds, 5 rights issues, 2 secondary share transfers), with disclosed funding of ₹7,566.08 Cr; the latest was in January 2025. Its 5 peer companies in the Consumer Services industry (Hypermarkets), with the same principal business activity (retail trading) are compared by revenue, 2 larger and 3 smaller; the largest is Trent Limited with revenue of ₹17,353 Cr. The company has 25 MSME Form 1 returns on record between 2019 and 2024, listing 32,233 overdue payments to 738 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website moreretail.in.
Company details
Name history
More Retail has undergone 3 name changes throughout its history. The company was previously known as Aditya Birla Retail Limited, Pushpak Finance And Investments Limited, and More Retail Limited. The current legal name is More Retail Private Limited.
| Company Name | Status |
|---|---|
| More Retail Private Limited | Current |
| Aditya Birla Retail Limited | Previous |
| Pushpak Finance And Investments Limited | Previous |
| More Retail Limited | Previous |
CIN history
More Retail has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U65990MH1988PTC048117, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65990MH1988PTC048117 | Current |
| U65990MH1988PLC048117 | Previous |
| U65990MH2003PTC048117 | Previous |
Contact details
More Retail Private Limited's registered office is in Mumbai, Maharashtra. Its website is moreretail.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address12th Floor Wing E Suite No. 2A Times Square Building, Marol Andheri Kurla Road Andheri East, Mumbai, Maharashtra, India – 400059
- IndustryConsumer Services, Hypermarkets & Large Retail Chains
To see the full contact details of More Retail 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 More Retail is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of More Retail Private Limited, buy the company report.
Financials of More Retail Private Limited
FY 2025 filings availableMore Retail Private Limited reported revenue of ₹4,701.32 Cr (up 14% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 14% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 1%. EBITDA rose 290% 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 | ₹141.82 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹248.93 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 3% | ||||
| Net Profit Margin | -5.3% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of More Retail Private Limited, buy the company report.
Board of directors and KMP of More Retail Private Limited
More Retail Private Limited currently reports 3 directors and 1 key managerial person. 31 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Supratim Banerjee | Cfo | 01 Feb 2024 | 2 Years 8 Months | Current |
| Vinod Nambiar Also directs: More Consumer Brands Private Limited, Sapphire Foods India Limited | Managing Director | 12 Feb 2021 | 5 Years 8 Months | Current |
| Vikram Ranjan Agarwal | Director | 28 Mar 2019 | 7 Years 6 Months | Current |
| Karan Mehrotra | Additional Director | 17 Dec 2025 | 0 Years 10 Months | Current |
Peer comparison
More Retail Private Limited is compared with the 5 companies closest to it by revenue in the Consumer Services industry (Hypermarkets), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Trent Limited | ₹17,353 Cr (FY 2025) | 37.0% | Mumbai, Maharashtra, India | |||
| Airplaza Retail Holdings Private Limited | ₹10,684 Cr (FY 2025) | 21.0% | Gurgaon, Haryana, India | |||
| More Retail Private Limitedthis company | ₹4,701.32 Cr (FY 2025) | -₹248.93 Cr | -5.3% | 14.0% | 9,436 | Mumbai, Maharashtra, India |
| Shoppers Stop Limited | ₹4,681.76 Cr (FY 2025) | 7.0% | Mumbai, Maharashtra, India | |||
| V-Mart Retail Limited | ₹3,265.98 Cr (FY 2025) | 16.0% | New Delhi, Delhi, India | |||
| Delhi Duty Free Services Private Limited | ₹2,209.4 Cr (FY 2025) | 11.0% | New Delhi, Delhi, India |
To see the full peer comparison of More Retail Private Limited, buy the company report.
Auditor
More Retail Private Limited is audited by S R B C & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R B C & CO LLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of More Retail Private Limited is on record for 5 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 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of More Retail Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Jul 2025 | 101131535 | Others | ₹10 Cr | Open | |
| 12 Dec 2024 | 101026957 | Others | ₹300 Cr | Open | |
| 12 Dec 2024 | 101028931 | Others | ₹260 Cr | Open | |
| 13 Apr 2023 | 100701094 | Others | ₹8.34 Cr | Open | |
| 04 Dec 1996 | 90137933 | Union Bank of India | ₹5 Lakh | Open |
To see the full charge records of More Retail Private Limited, buy the company report.
Total charge records: 73 View all charges
Deals & funding
More Retail Private Limited has 14 deals on record (5 funding rounds, 5 rights issues, 2 secondary share transfers), with disclosed funding of ₹7,566.08 Cr; the latest was in January 2025.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2025 | Rights issue | ₹449.16 Cr | Investors: More Consumer Brands Private Limited , an individual |
| May 2023 | Rights issue | ₹468.48 Cr | Investors: More Consumer Brands Private Limited , an individual |
| Aug 2022 | Rights issue | ₹300 Cr | Investors: More Consumer Brands Private Limited , an individual |
| Sep 2021 | Rights issue | ₹125 Cr | Investors: More Consumer Brands Private Limited , 2 individuals |
| Sep 2020 | Rights issue | ₹275 Cr | Investors: More Consumer Brands Private Limited |
To see the full deal history of More Retail Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
More Retail Private Limited has 384 court cases on record: 187 filed by More Retail, 197 filed against it. 72 cases are pending and 312 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 222 | 130 | 56 |
| High courts | 156 | 65 | 16 |
| Supreme Court | 5 | 2 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 384)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Fatehgarh Sahib, Punjab | Civil miscellaneous application | Filed by the company against Punjab Agri Ventures Ltd | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against Nirma Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (SUMMARY CASE) | Filed by the company against Everflow Technologies Private Limited and 4 others | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed by the company against Shikha India Limited and 4 others | Pending |
| Bombay High Court | Court case (CARAP) | Filed against the company by A P Securitas Pvt Ltd | Disposed |
To see the full case history of More Retail 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.
Credit ratings & regulatory alerts
More Retail Private Limited was last rated by Indiarating on 26 Nov 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 26 Nov 2021 |
To see the full credit ratings and regulatory alerts of More Retail Private Limited, buy the company report.
MSME payment delays
More Retail Private Limited has 25 MSME Form 1 returns on record between 2019 and 2024, listing 32,233 overdue payments to 738 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 738)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Ravi Industries-New | |||
| Indiyana Looms LLP | |||
| RC Goyal Dall Udyog Private Limited | |||
| Mangat Ram Dal Mills Private Limited |
To see the full MSME payment records of More Retail Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
More Retail Private Limited has a workforce of 9,436 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
More Retail has 28 GST registrations: 21 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACP2678Q1ZQ | Maharashtra | Active | 01 Jul 2017 |
| 27AAACP2678Q2ZP | Maharashtra | Active | 14 Aug 2017 |
| 03AAACP2678Q1Z0 | Punjab | Active | 01 Jul 2017 |
| 04AAACP2678Q1ZY | Chandigarh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of More Retail Private Limited, buy the company report.
Recent activity
More Retail Private Limited has 30 board changes on record since 2007: 4 appointments and 26 cessations. The latest: Karan Mehrotra was appointed as Additional Director on 17 Dec 2025.
184 earlier events are in the company report.
News
Frequently asked questions
More Retail is an active private limited company based in Mumbai, Maharashtra, India. The company works in hypermarkets and large retail chains, within the consumer services industry. It was incorporated on 14 July 1988 (38+ years old) and is registered under CIN U65990MH1988PTC048117.
More Retail has 4 current directors and KMP:
- Vinod Nambiar - Managing Director
- Vikram Ranjan Agarwal - Director
- Karan Mehrotra - Additional Director
- Supratim Banerjee - Cfo
The latest financial statements of More Retail on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of More Retail is 27AAACP2678Q1ZQ, registered in Maharashtra. The company has 28 GST registrations in all, of which 21 are active and 7 are cancelled or inactive. Other active GSTINs include 27AAACP2678Q2ZP (Maharashtra), 03AAACP2678Q1Z0 (Punjab), 04AAACP2678Q1ZY (Chandigarh).
The CIN (Corporate Identification Number) of More Retail is U65990MH1988PTC048117. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
More Retail has 384 court cases on record: 187 filed by the company and 197 filed against it. 72 are pending. Most are in the district courts.
More Retail was incorporated on 14 July 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.
More Retail has 14 deals on record (5 funding rounds, 5 rights issues, 2 secondary share transfers), with disclosed funding of ₹7,566.08 Cr; the latest was in January 2025.
The peers of More Retail by revenue are Trent Limited, Airplaza Retail Holdings Private Limited, Shoppers Stop Limited, V-Mart Retail Limited, Delhi Duty Free Services Private Limited, all in the Consumer Services industry (Hypermarkets), with the same principal business activity (retail trading).
Karan Mehrotra was appointed as Additional Director on 17 Dec 2025. Laxman Ramnarayan ceased to be CFO on 01 Feb 2024. Supratim Banerjee was appointed as CFO on 01 Feb 2024. More Retail has 30 board changes on record in total.
More Retail has 25 MSME Form 1 returns on record between 2019 and 2024, listing 32,233 overdue payments to 738 micro and small suppliers. The latest return was filed on 30 Apr 2024.
More Retail can be reached through the website moreretail.in. Its registered office is in Mumbai, Maharashtra, India.