About Indel Money Limited
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Indel Money Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Indel Corporation Private Limited. It operates in the investment and credit NBFC segment of the financial services sector. It was incorporated on 11 September 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U65990MH1986PLC040897. Its GSTIN is 27AAACP9568M1ZN (Maharashtra). The company holds 20 GST registrations, all of them active.
The company has an authorised share capital of ₹465 Cr and a paid-up capital of ₹433 Cr. It was formerly known as Indel Money Private Limited and Payal Holdings Pvt Ltd. It is led by directors including Mohanan Gopalakrishnan (Managing Director) and Umesh Mohanan (Whole-Time Director).
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 2024, the company reported a revenue of ₹291.13 Cr, a growth of 55% compared to the previous year. For the same year it recorded a net profit of ₹39.86 Cr (net margin 13.7%) and EBITDA of ₹185.11 Cr (EBITDA margin 63.6%). Revenue has grown at a compounded annual rate (CAGR) of 46% over three years and 46% over five years.
The company has about 1,951 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Indel Money. As per MCA filings, the company has open charges of ₹3,416.71 Cr and satisfied charges of ₹878.45 Cr on record. Court records list 180 cases involving the company, including 164 filed by the company and 16 filed against it; 50 cases are pending. The company has 15 deals on record (9 secondary share transfers, 4 rights issues, 2 funding rounds), with disclosed funding of ₹25.87 Cr; the latest was in September 2023. Its 9 peer companies in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities) are compared by revenue, 5 larger and 4 smaller; the largest is Julius Baer Capital (India) Private Limited with revenue of ₹94.89 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indelmoney.com.
Company details
Name history
Indel Money has undergone 2 name changes throughout its history. The company was previously known as Indel Money Private Limited, and Payal Holdings Pvt Ltd. The current legal name is Indel Money Limited.
| Company Name | Status |
|---|---|
| Indel Money Limited | Current |
| Indel Money Private Limited | Previous |
| Payal Holdings Pvt Ltd | Previous |
CIN history
Indel Money has one previous CIN (Corporate Identification Number): U65990MH1986PTC040897. The current CIN is U65990MH1986PLC040897, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65990MH1986PLC040897 | Current |
| U65990MH1986PTC040897 | Previous |
Contact details
Indel Money Limited's registered office is in Mumbai, Maharashtra. Its website is indelmoney.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit No 709 72 Corp Saki Vihar Road, Bandi Bazar Nair Wadi Saki Naka, Mumbai, Maharashtra, India – 400072
- IndustryFinancial Services, Investment & Credit NBFC, NBFC
To see the full contact details of Indel Money 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
Indel Money operates one associated brand: Indel Money. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of property & gold loan services | indelmoney.com |
Business activity
The main business activity of Indel Money is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Indel Money Limited, buy the company report.
Financials of Indel Money Limited
FY 2025 filings availableIndel Money Limited reported revenue of ₹291.13 Cr (up 55% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 46% over five years, including 55% growth in the latest year. EBITDA rose 50% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹291.13 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹185.11 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹39.86 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 63.6% | ||||
| Net Profit Margin | 13.7% | ||||
| 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 Indel Money Limited, buy the company report.
Board of directors of Indel Money Limited
Indel Money has 9 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sasi Kumar | Director | 27 Feb 2019 | 7 Years 8 Months | Current |
| Kavitha Menon Also directs: M G F Motors Limited | Director | 28 Mar 2018 | 8 Years 7 Months | Current |
| Narasinganallore Venkatesh Srinivasan Also directs: Au Small Finance Bank Limited, One 97 Communications Limited, Rinac India Limited and 5 more | Director | 02 Mar 2018 | 8 Years 7 Months | Current |
| Anantharaman Trikkur Ramachandran | Director | 05 Jul 2012 | 14 Years 3 Months | Current |
| Venugopal Nayar Bhaskaran Also directs: Sbi Life Insurance Company Limited | Director | 01 Jul 2025 | 1 Years 3 Months | Current |
| Salil Venu Also directs: Indel Wheels LLP, Mithram Automotives Limited Liability Partnership, Mithram Mobikes LLP and 5 more | Director | 12 Jul 2013 | 13 Years 3 Months | Current |
Peer comparison
Indel Money Limited is compared with the 9 companies closest to it by revenue in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Indel Money Limitedthis company | ₹291.13 Cr (FY 2024) | ₹39.86 Cr | 13.7% | 55.0% | 1,951 | Mumbai, Maharashtra, India |
| Julius Baer Capital (India) Private Limited | ₹94.89 Cr (FY 2018) | 21.0% | Mumbai, Maharashtra, India | |||
| Milky Investment and Trading Company | ₹94.75 Cr (FY 2019) | 134.0% | New Delhi, Delhi, India | |||
| Karvy Financial Services Limited | ₹94.71 Cr (FY 2019) | -77.0% | Mumbai, Maharashtra, India | |||
| Muthoot Mercantile Limited | ₹94.67 Cr (FY 2023) | 41.0% | Thiruvananthapuram, Kerala, India | |||
| Venus India Asset-Finance Private Limited | ₹94.6 Cr (FY 2022) | 60.0% | New Delhi, Delhi, India | |||
| RBS Credit and Financial Developments Pvt. Ltd. | ₹94.31 Cr (FY 2025) | 6620.0% | Kolkata, West Bengal, India | |||
| Best Finance Corporation Limited | ₹94.16 Cr (FY 2025) | 56.0% | Tirupur, Tamil Nadu, India | |||
| Pilot Consultants Private Ltd. | ₹94.05 Cr (FY 2025) | -55.0% | Kolkata, West Bengal, India | |||
| Virtue Financial Services Private Limited | ₹93.63 Cr (FY 2025) | 245.0% | New Delhi, Delhi, India |
To see the full peer comparison of Indel Money Limited, buy the company report.
Auditor
Indel Money Limited is audited by FRG & Company for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| FRG & Company | FY 2021 | 23258N |
Shareholding
The shareholding of Indel Money Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Indel Money Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Apr 2026 | 101288660 | Others | ₹75 Cr | Open | |
| 16 Apr 2026 | 101288665 | Others | ₹125 Cr | Open | |
| 30 Mar 2026 | 101274031 | Others | ₹35 Cr | Open | |
| 17 Mar 2026 | 101254933 | Others | ₹50 Cr | Open | |
| 16 Mar 2026 | 101266520 | Others | ₹25 Cr | Open |
To see the full charge records of Indel Money Limited, buy the company report.
Total charge records: 266 View all charges
Deals & funding
Indel Money Limited has 15 deals on record (9 secondary share transfers, 4 rights issues, 2 funding rounds), with disclosed funding of ₹25.87 Cr; the latest was in September 2023.
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2023 | Rights issue | ₹100.02 Cr | Investors: Indel Corporation Private Limited |
| Mar 2022 | Rights issue | ₹51 Cr | Investors: Indel Corporation Private Limited |
| Mar 2015 | Rights issue | ₹38.11 Cr | Investors: Indel Corporation Private Limited |
| Dec 2014 | Secondary share transfer | Undisclosed | Buyer: Indel Corporation Private Limited Seller: an individual |
| Dec 2014 | Rights issue | ₹13.21 Cr | Investors: Indel Corporation Private Limited |
To see the full deal history of Indel Money 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
Indel Money Limited has 180 court cases on record: 164 filed by Indel Money, 16 filed against it. 50 cases are pending and 130 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 164 | 8 | 46 |
| High courts | 15 | 7 | 3 |
| Supreme Court | 1 | 1 | 1 |
Cases on record (5 of 180)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ernakulam, Kerala | Criminal case | Filed by the company against M/S Eattofresh Foods Private Limited and One Another | Pending |
| High Court of Kerala | Writ petition | Filed against the company by M/S. Indel Corporation Private Limited, Registered Office: Unit No.709, | Pending |
| District court, Ernakulam, Kerala | Court case (M.A (Arb)) | Filed by the company against M/S. Fablums Medicare Private Limited and 5 others | Disposed |
| District court, Thiruvananthapuram, Kerala | Court case (OP(Succession)) | Filed against the company | Pending |
| District court, Ernakulam, Kerala | Criminal case | Filed by the company against M/S Hitech Agencies | Pending |
To see the full case history of Indel Money 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
Indel Money Limited was last rated by Care on 17 Jun 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 17 Jun 2022 |
To see the full credit ratings and regulatory alerts of Indel Money Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Indel Money Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Indel Money Limited has a workforce of 1,951 employees on its EPFO records as of Nov 11, 2025, across 1 active EPFO establishment.
GST
Indel Money has 20 GST registrations: 20 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACP9568M1ZN | Maharashtra | Active | 27 Nov 2022 |
| 32AAACP9568M1ZW | Kerala | Active | 01 Jul 2017 |
| 33AAACP9568M1ZU | Tamil Nadu | Active | 01 Jul 2017 |
| 29AAACP9568M1ZJ | Karnataka | Active | 24 Oct 2018 |
To see the full GST registrations and return filing status of Indel Money Limited, buy the company report.
Recent activity
Indel Money Limited has 24 board changes on record since 2010: 9 appointments and 15 cessations. The latest: Venugopal Nayar Bhaskaran was appointed as Director on 01 Jul 2025.
601 earlier events are in the company report.
News
Frequently asked questions
Indel Money is an active public limited company based in Mumbai, Maharashtra, India. The company works in investment and credit nbfc, within the financial services industry. It was incorporated on 11 September 1986 (40+ years old) and is registered under CIN U65990MH1986PLC040897.
Indel Money has 9 current directors:
- Mohanan Gopalakrishnan - Managing Director
- Umesh Mohanan - Whole-Time Director
- Sasi Kumar - Director
- Kavitha Menon - Director
- Narasinganallore Venkatesh Srinivasan - Director
- Anantharaman Trikkur Ramachandran - Director
- Venugopal Nayar Bhaskaran - Director
- Salil Venu - Director
- Parvathy Vairavasundaram - Director
The latest financial statements of Indel Money 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 Indel Money is 27AAACP9568M1ZN, registered in Maharashtra. The company has 20 GST registrations in all, of which 20 are active. Other active GSTINs include 32AAACP9568M1ZW (Kerala), 33AAACP9568M1ZU (Tamil Nadu), 29AAACP9568M1ZJ (Karnataka).
The CIN (Corporate Identification Number) of Indel Money is U65990MH1986PLC040897. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indel Money has 180 court cases on record: 164 filed by the company and 16 filed against it. 50 are pending. Most are in the district courts.
Indel Money was incorporated on 11 September 1986, making it 40+ years old. It is registered with the Registrar of Companies, Mumbai.
Indel Money has 15 deals on record (9 secondary share transfers, 4 rights issues, 2 funding rounds), with disclosed funding of ₹25.87 Cr; the latest was in September 2023.
The peers of Indel Money by revenue are Julius Baer Capital (India) Private Limited, Milky Investment and Trading Company, Karvy Financial Services Limited, Muthoot Mercantile Limited, Venus India Asset-Finance Private Limited and 4 more, all in the BFSI industry (Large NBFC, Mid Sized Non Deposit NBFC, NBFC Investment and Credit Companies), with the same principal business activity (other financial activities).
Venugopal Nayar Bhaskaran was appointed as Director on 01 Jul 2025. Sethuraman Ganesh ceased to be Director on 11 Apr 2025. Parvathy Vairavasundaram was appointed as Director on 01 Apr 2025. Indel Money has 24 board changes on record in total.
Indel Money can be reached through the website indelmoney.com. Its registered office is in Mumbai, Maharashtra, India.
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