M.V.G Chits Private Limited
About M.V.G Chits Private Limited
Data last updated:
M.V.G Chits Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the microfinance institutions segment of the financial services sector. It was incorporated on 12 November 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U65992KA2009PTC051455. Its GSTIN is 29AAGCM2486H1Z4 (Karnataka).
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹5 Lakh. It is led by directors Ananth Ashwin and Ananth Naveen.
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at No.64/6 Sri Sai Pinnacle 1st Floor Shankar Mutt Road Shankarpuram, Bangalore, Karnataka, India – 560004.
As per the financials filed for FY 2019, the company reported a revenue of ₹1.29 Cr, a decline of 33% compared to the previous year. For the same year it recorded a net profit of ₹23,987 (net margin 0.2%) and EBITDA of ₹76.04 Lakh (EBITDA margin 58.8%). Revenue has declined at a compounded annual rate (CAGR) of 9% over three years.
As per MCA filings, the company has open charges of ₹90.35 Lakh on record. Court records list 10 cases involving the company, including 10 filed against it.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
M.V.G Chits Private Limited's registered office is in Bangalore, Karnataka. Its e-mail address is in the company report.
- Email
- Registered AddressNo.64/6 Sri Sai Pinnacle 1st Floor Shankar Mutt Road Shankarpuram, Bangalore, Karnataka, India – 560004
- IndustryFinancial Services, Microfinance Institutions
To see the full contact details of M.V.G Chits 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 M.V.G Chits 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 M.V.G Chits Private Limited, buy the company report.
Financials of M.V.G Chits Private Limited
FY 2019 filings availableM.V.G Chits Private Limited reported revenue of ₹1.29 Cr (down 33% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 9% over three years, including a 33% fall in the latest year. EBITDA fell 25% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹1.29 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹76.04 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹23,987 | ||||
| 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 58.8% | ||||
| Net Profit Margin | 0.2% | ||||
| 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 M.V.G Chits Private Limited, buy the company report.
Board of directors of M.V.G Chits Private Limited
M.V.G Chits has 2 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ananth Ashwin | Director | 12 Nov 2009 | 16 Years 11 Months | Current |
| Ananth Naveen Also directs: Premnagar Chits Private Limited | Director | 12 Nov 2009 | 16 Years 11 Months | Current |
Peer comparison
M.V.G Chits Private Limited is compared with the 10 companies closest to it by revenue in the BFSI industry (Micro Finance), 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 |
|---|---|---|---|---|---|---|
| Dhana Nidhi Limited | ₹1.32 Cr (FY 2024) | 22.0% | Chennai, Tamil Nadu, India | |||
| Trichy Aishwaryam Chit Fund Private Limited | ₹1.31 Cr (FY 2017) | 37.0% | Tiruchirappalli, Tamil Nadu, India | |||
| JKR Chits Private Limited | ₹1.31 Cr (FY 2025) | 48.0% | Thoothukudi, Tamil Nadu, India | |||
| Shogun Kuries Private Limited | ₹1.3 Cr (FY 2025) | 4.0% | Thrissur, Kerala, India | |||
| Ambey Chit Funds Private Limited | ₹1.3 Cr (FY 2025) | 150.0% | Hyderabad, Telangana, India | |||
| M.V.G Chits Private Limitedthis company | ₹1.29 Cr (FY 2019) | ₹23,987 | 0.2% | -33.0% | Bangalore, Karnataka, India | |
| Nagai Uma Chits Private Limited | ₹1.29 Cr (FY 2025) | -11.0% | N. Q.M, Tamil Nadu, India | |||
| Kirubai Chits Private Limited | ₹1.28 Cr (FY 2025) | -4.0% | Kanniyakumari, Tamil Nadu, India | |||
| Sathyaparva Chits Private Limited | ₹1.28 Cr (FY 2023) | 92.0% | Bangalore, Karnataka, India | |||
| Suvarnaindradhanu Fraternity Fund India Private Limited | ₹1.28 Cr (FY 2024) | -12.0% | Nashik, Maharashtra, India | |||
| Saidapet Saswatha Nidhi Ltd | ₹1.28 Cr (FY 2025) | 7.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of M.V.G Chits Private Limited, buy the company report.
Auditor
M.V.G Chits Private Limited is audited by MUKESH R & CO for the financial year 2019.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MUKESH R & CO | FY 2019 | 008485S |
Shareholding
The shareholding of M.V.G Chits Private Limited is on record for 4 financial years, the latest being FY 2019, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|
| Promoters | ||||
| Domestic institutional investors (DII) | ||||
| Foreign institutional investors (FII) | ||||
| Public | ||||
| Others |
To see the full shareholding pattern of M.V.G Chits Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Dec 2016 | 100123488 | Others | ₹85.35 Lakh | Open | |
| 28 Dec 2013 | 10468882 | The Karur Vysya Bank Limited | ₹5 Lakh | Open |
Total charge records: 2 View all charges
Legal cases
M.V.G Chits Private Limited has 10 court cases on record: 10 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 10 | 10 | 0 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Aditya Birla Housing Finance Ltd. | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by Ganesh Enterprises | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by M/S Arpitha Aromatics | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by Ganesh Enterprises | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed against the company by M/S. Arpitha Aromatics | Disposed |
To see the full case history of M.V.G Chits 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.V.G Chits Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
M.V.G Chits has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAGCM2486H1Z4 | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of M.V.G Chits Private Limited, buy the company report.
Recent activity
M.V.G Chits Private Limited has 2 board changes on record since 2009: 2 appointments. The latest: Ananth Ashwin was appointed as Director on 12 Nov 2009.
Frequently asked questions
M.V.G Chits is an active private limited company based in Bangalore, Karnataka, India. The company works in microfinance institutions, within the financial services industry. It was incorporated on 12 November 2009 (17+ years old) and is registered under CIN U65992KA2009PTC051455.
M.V.G Chits has 2 current directors:
- Ananth Ashwin - Director
- Ananth Naveen - Director
The latest financial statements of M.V.G Chits on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The GSTIN of M.V.G Chits is 29AAGCM2486H1Z4, registered in Karnataka.
The CIN (Corporate Identification Number) of M.V.G Chits is U65992KA2009PTC051455. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
M.V.G Chits has 10 court cases on record: 10 filed against it.
M.V.G Chits was incorporated on 12 November 2009, making it 17+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of M.V.G Chits by revenue are Dhana Nidhi Limited, Trichy Aishwaryam Chit Fund Private Limited, JKR Chits Private Limited, Shogun Kuries Private Limited, Ambey Chit Funds Private Limited and 5 more, all in the BFSI industry (Micro Finance), with the same principal business activity (other financial activities).
Ananth Ashwin was appointed as Director on 12 Nov 2009. Ananth Naveen was appointed as Director on 12 Nov 2009.
The registered office of M.V.G Chits is at No.646 Sri Sai Pinnacle 1st Floor Shankar Mutt Road Shankarpuram, Bangalore, Karnataka, India – 560004.
M.V.G Chits operates in the financial services industry, in the microfinance institutions segment.
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