About MV E-Commerce Services Private Limited
Data last updated:
MV E-Commerce Services Private Limited is a private limited company based in Surat, Gujarat, India. It operates in the online payment gateways segment of the financial services sector. It was incorporated on 30 May 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U74999GJ2017PTC097639. Its GSTIN is 24AALCM1058N1Z6 (Gujarat).
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹4 Lakh. It is led by directors Bhawika Vijay Rathod and Vijay Ghanshyam Rathod.
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 Surat, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.28 Cr, a growth of 44% compared to the previous year. For the same year it recorded a net profit of ₹7.45 Lakh (net margin 1.7%) and EBITDA of ₹57.01 Lakh (EBITDA margin 13.3%). Revenue has declined at a compounded annual rate (CAGR) of 1% over three years and 4% over five years.
The company is associated with 1 brand: Pay2india. Court records list 1 case involving the company, including 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 pay2india.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressShop No. 403 Avadh Viceroy, Sarthana Jakatnaka Kamrej Road Nana Varachha, Surat, Gujarat, India – 395006
- IndustryFinancial Services, Online Payment Gateways
- 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
- One PDF report, delivered after checkout
Business Activity of MV E-Commerce Services Private Limited
The main business activities of MV E-Commerce Services are trade and information and communication. In detail, this covers wholesale trading and other information & communication service activities. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading | Locked |
| J | Information and communication | J8 | Other information & communication service activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of MV E-Commerce Services Private Limited FY 2025 filings available
MV E-Commerce Services Private Limited reported revenue of ₹4.28 Cr (up 44% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of MV E-Commerce Services Private Limited
Revenue rose 44% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 4%. EBITDA rose 210% 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 of MV E-Commerce Services Private Limited
| 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 | ₹57.01 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹7.45 Lakh | •••• | •••• | •••• | •••• |
| 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 of MV E-Commerce Services Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 13.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 1.7% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of MV E-Commerce Services are in the company report.
Financial statements from FY 2018
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of MV E-Commerce Services Private Limited
MV E-Commerce Services Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Gateways). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Pelocal Fintech Private Limited | ₹4.54 Cr (FY 2024) | •••• | •••• | 493.0% | •••• | Chennai, Tamil Nadu, India |
| Opensky Tradebiz Solutions Private Limited | ₹4.49 Cr (FY 2024) | •••• | •••• | 835.0% | •••• | Delhi, India |
| Make Indiasmart Private Limited | ₹4.4 Cr (FY 2019) | •••• | •••• | -49.0% | •••• | Delhi, India |
| Hotpay Solutions Private Limited | ₹4.34 Cr (FY 2025) | •••• | •••• | 15.0% | •••• | New Delhi, Delhi, India |
| Go Pay Digital World Private Limited | ₹4.28 Cr (FY 2024) | •••• | •••• | 27.0% | •••• | Gurgaon, Haryana, India |
| MV E-Commerce Services Private Limited this company | ₹4.28 Cr (FY 2025) | •••• | •••• | 44.0% | •••• | Surat, Gujarat, India |
| Paygoal Business Solutions Private Limited | ₹4.28 Cr (FY 2025) | •••• | •••• | 297.0% | •••• | Delhi, India |
| Eris Global LLP | ₹4.26 Cr (FY 2023) | •••• | •••• | 52.0% | •••• | Gurgaon, Haryana, India |
| Vidual Communications India Private Limited | ₹4.17 Cr (FY 2024) | •••• | •••• | 419.0% | •••• | Kolkata, West Bengal, India |
| Jai Shree Pay India Private Limited | ₹4.14 Cr (FY 2024) | •••• | •••• | -56.0% | •••• | Jaipur, Rajasthan, India |
| MMW Fintech Private Limited | ₹3.8 Cr (FY 2024) | •••• | •••• | 20.0% | •••• | Ahmedabad, Gujarat, India |
Peers are the five companies nearest above and the five nearest below MV E-Commerce Services by revenue in the BFSI industry (Payment Gateways), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of MV E-Commerce Services Private Limited
MV E-Commerce Services Private Limited is audited by KDL & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| KDL & Co. | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of MV E-Commerce Services Private Limited
MV E-Commerce Services has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bhawika Vijay Rathod Also directs: Wavegroove Connect Solution Private Limited | Director | 25 Oct 2023 | 2 Years 11 Months | Current |
| Vijay Ghanshyam Rathod Also directs: Wavegroove Connect Solution Private Limited | Director | 30 May 2017 | 9 Years 4 Months | Current |
Ownership and Shareholding of MV E-Commerce Services Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of MV E-Commerce Services Private Limited
MV E-Commerce Services Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Legal Cases of MV E-Commerce Services Private Limited
MV E-Commerce Services Private Limited has 1 court case on record: 1 filed against it. All case is disposed. Status as checked on 01 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by an individual | Disposed |
Full case history
All 1 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Associated Brands with MV E-Commerce Services Private Limited
MV E-Commerce Services operates one associated brand: Pay2india. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides a fintech platform with secure payment solutions tailored for businesses. | pay2india.com |
Employees and EPFO Compliance at MV E-Commerce Services Private Limited
Employment history and EPFO contributions of people linked to MV E-Commerce Services.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on MV E-Commerce Services Private Limited
MV E-Commerce Services Private Limited has 3 board changes on record since 2017: 2 appointments and 1 cessation. The latest: Mayurkumar Rajanikant Sojitra ceased to be Director on 04 Nov 2023.
Credit Ratings, Litigation & Regulatory Alerts for MV E-Commerce Services Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by MV E-Commerce Services Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of MV E-Commerce Services Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of MV E-Commerce Services Private Limited
MV E-Commerce Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AALCM1058N1Z6 | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of MV E-Commerce Services Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about MV E-Commerce Services Private Limited
MV E-Commerce Services is an active private limited company based in Surat, Gujarat, India. The company works in online payment gateways, within the financial services industry. It was incorporated on 30 May 2017 (9+ years old) and is registered under CIN U74999GJ2017PTC097639.
MV E-Commerce Services reported revenue of ₹4.28 Cr for FY 2025 (up 44% YoY).
MV E-Commerce Services has 2 current directors:
- Bhawika Vijay Rathod - Director
- Vijay Ghanshyam Rathod - Director
MV E-Commerce Services reported a net profit of ₹7.45 Lakh (net margin 1.7%) and EBITDA of ₹57.01 Lakh (EBITDA margin 13.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of MV E-Commerce Services is 1% over three years and -4% over five years. In the latest year (FY 2025) revenue rose 44%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of MV E-Commerce Services is 24AALCM1058N1Z6, registered in Gujarat.
The CIN (Corporate Identification Number) of MV E-Commerce Services is U74999GJ2017PTC097639. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
MV E-Commerce Services has 1 court case on record: 1 filed against it.
MV E-Commerce Services was incorporated on 30 May 2017, making it 9+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of MV E-Commerce Services by revenue are Pelocal Fintech Private Limited, Opensky Tradebiz Solutions Private Limited, Make Indiasmart Private Limited, Hotpay Solutions Private Limited, Go Pay Digital World Private Limited and 5 more, all in the BFSI industry (Payment Gateways).
Mayurkumar Rajanikant Sojitra ceased to be Director on 04 Nov 2023. Bhawika Vijay Rathod was appointed as Director on 25 Oct 2023. Vijay Ghanshyam Rathod was appointed as Director on 30 May 2017.