India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#401- Valuation
- ₹12,730 Cr
2023 #255 2022 #259 2021 #407
Revenue · FY 2025
₹878.46 Cr
▼ 2% YoY
Net profit · FY 2025
₹277.21 Cr
Net margin 31.6%
EBITDA · FY 2025
₹535.88 Cr
EBITDA margin 61%
Authorised capital
₹10 Lakh
Registered with MCA
Paid-up capital
₹1 Lakh
Issued & subscribed
Open charges
₹533.37 Cr
Satisfied ₹2,802 Cr
Company age
21 yrs
Est. 2005
Employees · EPFO
2,554
Provident fund records
About Musigma Business Solutions Private Limited
Data last updated:
Musigma Business Solutions Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Mu Sigma Inc.. It operates in the business support services segment of the business services sector. It was incorporated on 13 May 2005 and has been in existence for over 21 years.
Its director Dhiraj Rajaram is #445 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74140KA2005PTC036309. Its GSTIN is 29AAECM3293N1ZU (Karnataka). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors including Dhiraj Rajaram Chidambaram and Alokesh Das.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹878.46 Cr, a decline of 2% compared to the previous year. For the same year it recorded a net profit of ₹277.21 Cr (net margin 31.6%) and EBITDA of ₹535.88 Cr (EBITDA margin 61%). Revenue has declined at a compounded annual rate (CAGR) of 1% over three years and 2% over five years.
The company has about 2,554 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mu Sigma. As per MCA filings, the company has open charges of ₹533.37 Cr and satisfied charges of ₹2,802 Cr on record. Court records list 13 cases involving the company, including 6 filed by the company and 7 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 mu-sigma.com.
Company details
CIN U74140KA2005PTC036309
Registration Number 036309
Incorporation Date 13 May 2005
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Mu Sigma Inc.
Compliance Status Active Compliant
Key People
Dhiraj Rajaram Chidambaram Director Alokesh Das Director Sivagnanaselvam Additional Director Recognitions & Rankings of Musigma Business Solutions
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #445 Dhiraj Rajaram ₹8,000 Cr
Contact details
Musigma Business Solutions Private Limited's registered office is in Bangalore, Karnataka. Its website is mu-sigma.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAviator Building Level 14 Ascend As Itpl – SEZ Zone Whitefield Ro, Ad, Bangalore, Karnataka, India – 560066
- IndustryBusiness Services, Business Support Services
To see the full contact details of Musigma Business Solutions Private Limited, buy the company report.
Comprehensive company report
Musigma Business 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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Brands
Musigma Business Solutions operates one associated brand: Mu Sigma. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Visual data analytics platform used by enterprises for insights. | mu-sigma.com |
Business activity
The main business activity of Musigma Business Solutions 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 Musigma Business Solutions Private Limited, buy the company report.
Financials of Musigma Business Solutions Private Limited
FY 2025 filings availableMusigma Business Solutions Private Limited reported revenue of ₹878.46 Cr (down 2% YoY) for FY 2025.
Revenue · FY 2025
₹878.46 Cr ▼ 2%
Net profit · FY 2025
₹277.21 Cr margin 31.6%
EBITDA · FY 2025
₹535.88 Cr margin 61%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 2%
3 years · compounded
▼ 1%
5 years · compounded
▼ 2%
EBITDA CAGR growth
1 year
▼ 2%
3 years · compounded
▼ 5%
5 years · compounded
▲ 4%
Revenue has declined at a compounded annual rate (CAGR) of 2% over five years, including a 2% fall in the latest year. EBITDA fell 2% 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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| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
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| Total Expenses | |||||
| EBITDA | ₹535.88 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹277.21 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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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 | 61% | ||||
| Net Profit Margin | 31.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Musigma Business Solutions Private Limited, buy the company report.
Board of directors of Musigma Business Solutions Private Limited
Musigma Business Solutions has 4 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dhiraj Rajaram Chidambaram | Director | 02 Mar 2006 | 20 Years 7 Months | Current |
| Alokesh Das | Director | 14 Apr 2023 | 3 Years 6 Months | Current |
| Sivagnanaselvam | Additional Director | 11 Dec 2025 | 0 Years 10 Months | Current |
| Trichur Narayanaswamy Kumar | Director | 17 Apr 2024 | 2 Years 6 Months | Current |
Auditor
Musigma Business Solutions Private Limited is audited by S.R. Batliboi & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Associates LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Musigma Business Solutions Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Musigma Business Solutions Private Limited, buy the company report.
Charges & borrowings
Open charges
₹533.37 Cr
Satisfied charges
₹2,802 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Oct 2025 | 101180537 | Others | ₹266.69 Cr | Open | |
| 15 Oct 2025 | 101178942 | Others | ₹266.69 Cr | Open | |
| 29 Mar 2022 | 100555396 | Others | ₹681 Cr | Satisfied | |
| 28 May 2020 | 100341929 | Idbi Trusteeship Services Limited | ₹1,060.5 Cr | Satisfied | |
| 28 May 2020 | 100343562 | Others | ₹1,060.5 Cr | Satisfied |
To see the full charge records of Musigma Business Solutions Private Limited, buy the company report.
Total charge records: 5 View all charges
Legal cases
Musigma Business Solutions Private Limited has 13 court cases on record: 6 filed by Musigma Business Solutions, 7 filed against it. All cases are disposed.
Total cases
13
Filed by the company
6
Filed against the company
7
Disposed
13
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 7 | 5 | 0 |
| District courts | 6 | 2 | 0 |
Cases on record (5 of 13)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against The Mathcompany Pvt Ltd and 3 others | Disposed |
| High Court of Karnataka | Court case (MFA) | Filed by the company against Tredence Analytics Solutions Pvt Ltd and 1 other | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Tredence Analytics Solutions Pvt Ltd and 3 others | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed against the company by Affine Analytics Pvt. Ltd. and 4 others | Disposed |
| High Court of Karnataka | Court case (MFA) | Filed by the company against The Mathcompany Pvt Ltd | Disposed |
To see the full case history of Musigma Business 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
No delayed payments to MSME suppliers are on our record for Musigma Business Solutions Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Musigma Business Solutions Private Limited has a workforce of 2,554 employees on its EPFO records as of Jul 07, 2024, across 1 active EPFO establishment.
Employee count
2,554
Active EPFO establishments
1
Employee growth
12.86%
GST
Musigma Business Solutions has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECM3293N1ZU | Karnataka | Active | 01 Jul 2017 |
| 29AAECM3293N2ZT | Karnataka | Active | 13 Sep 2023 |
| 36AAECM3293N1ZZ | Telangana | Active | 01 Apr 2024 |
To see the full GST registrations and return filing status of Musigma Business Solutions Private Limited, buy the company report.
Recent activity
Musigma Business Solutions Private Limited has 17 board changes on record since 2006: 5 appointments and 12 cessations. The latest: Sivagnanaselvam was appointed as Additional Director on 11 Dec 2025.
Appointed
Sivagnanaselvam was appointed as Additional Director.
Charges
A charge with Others amounted to Rs. 26,668.50 Lakh with Charge ID 101180537 was registered on 24 Oct 2025.
Charges
A charge with Others amounted to Rs. 26,668.50 Lakh with Charge ID 101178942 was registered on 15 Oct 2025.
Charges
A charge registered on 29 Mar 2022 via Charge ID 100555396 with Others was fully satisfied on 03 Oct 2025.
AGM
Musigma Business Solutions Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Filing
Musigma Business Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Appointed
Kumar Trikkur Narayanaswamy was appointed as Director.
Appointed
Trichur Narayanaswamy Kumar was appointed as Director.
Ceased
Alokesh Das ceased to be Additional Director.
Appointed
Alokesh Das was appointed as Director.
Ceased
Maneganahalli Sathyanarayana Rao Mahesh ceased to be Director.
Charges
A charge with Others amounted to Rs. 68,100.30 Lakh with Charge ID 100555396 was registered on 29 Mar 2022.
16 earlier events are in the company report.
News
Frequently asked questions
Musigma Business Solutions is an active private limited company based in Bangalore, Karnataka, India. The company works in business support services, within the business services industry. It was incorporated on 13 May 2005 (21+ years old) and is registered under CIN U74140KA2005PTC036309.
Musigma Business Solutions has 4 current directors:
- Dhiraj Rajaram Chidambaram - Director
- Alokesh Das - Director
- Sivagnanaselvam - Additional Director
- Trichur Narayanaswamy Kumar - Director
The latest financial statements of Musigma Business Solutions on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Musigma Business Solutions is 29AAECM3293N1ZU, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 29AAECM3293N2ZT (Karnataka), 36AAECM3293N1ZZ (Telangana).
The CIN (Corporate Identification Number) of Musigma Business Solutions is U74140KA2005PTC036309. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Musigma Business Solutions has 13 court cases on record: 6 filed by the company and 7 filed against it. Most are in the high courts.
Musigma Business Solutions was incorporated on 13 May 2005, making it 21+ years old. It is registered with the Registrar of Companies, Bangalore.
Sivagnanaselvam was appointed as Additional Director on 11 Dec 2025. Kumar Trikkur Narayanaswamy was appointed as Director on 17 Apr 2024. Trichur Narayanaswamy Kumar was appointed as Director on 17 Apr 2024. Musigma Business Solutions has 17 board changes on record in total.
Musigma Business Solutions can be reached through the website mu-sigma.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of Musigma Business Solutions is at Aviator Building Level 14 Ascend As Itpl – SEZ Zone Whitefield Ro, Ad, Bangalore, Karnataka, India – 560066.
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