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MWB Technologies India Private Limited - information technology in Hubli, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹1.89 Cr
▼ 40% YoY
Net loss · FY 2024
₹16.91 Lakh
Net margin -8.9%
EBITDA · FY 2024
₹51.67 Lakh
EBITDA margin 27.3%
Authorised capital
₹4 Cr
Registered with MCA
Paid-up capital
₹2.54 Cr
Issued & subscribed
Company age
7 yrs
Est. 2019
Employees · EPFO
43
Provident fund records
Directors on board
9
As per MCA filings
About MWB Technologies India Private Limited
Data last updated:
MWB Technologies India Private Limited is a private limited company based in Hubli, Karnataka, India, recognised as a startup by DPIIT. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 02 January 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2019PTC119955. Its GSTIN is 29AAMCM3313M1Z3 (Karnataka).
The company has an authorised share capital of ₹4 Cr and a paid-up capital of ₹2.54 Cr. It is led by directors including Mahaveer Gouthamchand Bafna and Rakeshkumar Urachand Bafna.
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 W B Plaza Cts 122/141A New Cotton Market Opp Traffic Police Station, Hubli, Karnataka, India – 580029.
As per the financials filed for FY 2024, the company reported a revenue of ₹1.89 Cr, a decline of 40% compared to the previous year. For the same year it recorded a net loss of ₹16.91 Lakh (net margin -8.9%) and EBITDA of ₹51.67 Lakh (EBITDA margin 27.3%). Revenue has grown at a compounded annual rate (CAGR) of 203% over three years.
The company has about 43 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: MWB Technologies India. Court records list 2 cases involving the company, including 2 filed against it; 1 case is pending.
MWB Technologies India Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-13-0015521). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website wbtechindia.com.
Company details
CIN U72200KA2019PTC119955
Registration Number 119955
Incorporation Date 02 January 2019
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Micro
Udyam Registration UDYAM-KR-13-0015521
Key People
Mahaveer Gouthamchand Bafna Director Rakeshkumar Urachand Bafna Director Shripal Giridharilal Bafna Director Recognitions & Rankings of MWB Technologies India
MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2024-25)
- Udyam number
- UDYAM-KR-13-0015521
Contact details
MWB Technologies India Private Limited's registered office is in Hubli, Karnataka. Its website is wbtechindia.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressW B Plaza Cts 122/141A New Cotton Market Opp Traffic Police Station, Hubli, Karnataka, India – 580029
- IndustryInformation Technology, Application Development & Software Solutions, IT Products Retail & Distribution
To see the full contact details of MWB Technologies India Private Limited, buy the company report.
Comprehensive company report
MWB Technologies India 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
MWB Technologies India operates one associated brand: MWB Technologies India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides end-to-end software development services, including design, coding, and maintenance of applications. | wbtechindia.com |
Business activity
The main business activities of MWB Technologies India are information and communication and trade. In detail, this covers publishing of computer operating systems, system software, application software, games, etc. and retail trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J2 | Publishing of computer operating systems, system software, application software, games, etc. | |
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of MWB Technologies India Private Limited, buy the company report.
Financials of MWB Technologies India Private Limited
FY 2025 filings availableMWB Technologies India Private Limited reported revenue of ₹1.89 Cr (down 40% YoY) for FY 2024.
Revenue · FY 2024
₹1.89 Cr ▼ 40%
Net loss · FY 2024
₹16.91 Lakh margin -8.9%
EBITDA · FY 2024
₹51.67 Lakh margin 27.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 40%
3 years · compounded
▲ 203%
EBITDA CAGR growth
1 year
▲ 489%
3 years · compounded
▲ 82%
Revenue fell 40% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 203%. EBITDA rose 489% 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 |
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| EBITDA | ₹51.67 Lakh | ||||
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| Net Profit (PAT) | -₹16.91 Lakh | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profitability | |||||
| EBITDA Margin | 27.3% | ||||
| Net Profit Margin | -8.9% | ||||
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To see the full financial statements and ratios of MWB Technologies India Private Limited, buy the company report.
Board of directors of MWB Technologies India Private Limited
MWB Technologies India has 9 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahaveer Gouthamchand Bafna Also directs: W B Agro Products Private Limited, MWB Agro India Private Limited | Director | 30 Aug 2019 | 7 Years 1 Months | Current |
| Rakeshkumar Urachand Bafna | Director | 30 Aug 2019 | 7 Years 1 Months | Current |
| Shripal Giridharilal Bafna Also directs: W B Agro Products Private Limited, W B Proteins India Private Limited, Mutha Wagmal Bhuraji Agro Private Limited and 1 more | Director | 30 Aug 2019 | 7 Years 1 Months | Current |
| Hiteshkumar Ukachand Bafna Also directs: W B Agro Products Private Limited, MWB Realty Private Limited, W B Proteins India Private Limited and 1 more | Director | 30 Aug 2019 | 7 Years 1 Months | Current |
| Giridharlalji Wagamal Bafna Also directs: W B Agro Products Private Limited, MWB Realty Private Limited | Director | 30 Aug 2019 | 7 Years 1 Months | Current |
| Dinesh Mohanlal Jain | Director | 02 Jan 2019 | 7 Years 9 Months | Current |
Showing 6 of 9 current directors. View all directors
Peer comparison
MWB Technologies India Private Limited is compared with the 10 companies closest to it by revenue in the same principal business activity (publishing of computer operating systems, system software, application software, games, etc.), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Bramcon Solutions Private Limited | ₹1.9 Cr (FY 2025) | 18.0% | Bangalore, Karnataka, India | |||
| Atirath Technologies Private Limited | ₹1.9 Cr (FY 2025) | 1511.0% | Hyderabad, Telangana, India | |||
| Codeland Infosolutions Private Limited | ₹1.9 Cr (FY 2024) | 13.0% | Bangalore, Karnataka, India | |||
| Nayamsoft India Private Limited | ₹1.9 Cr (FY 2024) | 230.0% | Sriperumbudur, Tamil Nadu, India | |||
| Nimbylz Technology Solutions Private Limited | ₹1.9 Cr (FY 2025) | 6.0% | Chennai, Tamil Nadu, India | |||
| MWB Technologies India Private Limitedthis company | ₹1.89 Cr (FY 2024) | -₹16.91 Lakh | -8.9% | -40.0% | 43 | Hubli, Karnataka, India |
| Soft Com India Private Limited | ₹1.89 Cr (FY 2024) | -24.0% | Mumbai, Maharashtra, India | |||
| Taggart Continuum India Solutions Private Limited | ₹1.89 Cr (FY 2022) | 382.0% | Nawada, Delhi, India | |||
| Salt River Info Systems Private Limited | ₹1.89 Cr (FY 2024) | 10.0% | Mumbai, Maharashtra, India | |||
| Hitah Systems and Solutions Private Limited | ₹1.89 Cr (FY 2016) | 24.0% | Chennai, Tamil Nadu, India | |||
| SJTS Services Private Limited | ₹1.89 Cr (FY 2024) | 437.0% | Bhubaneswar, Odisha, India |
To see the full peer comparison of MWB Technologies India Private Limited, buy the company report.
Legal cases
MWB Technologies India Private Limited has 2 court cases on record: 2 filed against it. 1 case is pending and 1 is disposed.
Total cases
2
Filed against the company
2
Pending
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 2 | 1 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Punjab and Haryana | Arbitration matter | Filed against the company by Mantarav Private Limited | Disposed |
| High Court of Karnataka | Court case (CRL.P) | Filed against the company | Pending |
To see the full case history of MWB Technologies India 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 MWB Technologies India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
MWB Technologies India Private Limited has a workforce of 43 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
Employee count
43
Active EPFO establishments
1
Employee growth
13.16%
GST
MWB Technologies India has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAMCM3313M1Z3 | Karnataka | Active | 29 May 2019 |
To see the full GST registrations and return filing status of MWB Technologies India Private Limited, buy the company report.
Recent activity
MWB Technologies India Private Limited has 10 board changes on record since 2019: 9 appointments and 1 cessation. The latest: Shivanand R Belagali ceased to be Director on 14 Oct 2021.
AGM
Mwb Technologies India Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Mwb Technologies India Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Ceased
Shivanand R Belagali ceased to be Director.
Appointed
Gautamchand Wagamal Bafna was appointed as Director.
Appointed
Giridharlalji Wagamal Bafna was appointed as Director.
Appointed
Hiteshkumar Ukachand Bafna was appointed as Director.
Appointed
Mahaveer Gouthamchand Bafna was appointed as Director.
Appointed
Rakeshkumar Urachand Bafna was appointed as Director.
Appointed
Shripal Giridharilal Bafna was appointed as Director.
Appointed
Ukhachand Wagamal Bafna was appointed as Director.
Appointed
Dinesh Mohanlal Jain was appointed as Director.
Appointed
Mukeshkumar Ukchand Bafna was appointed as Director.
1 earlier event is in the company report.
Frequently asked questions
MWB Technologies India is an active private limited company based in Hubli, Karnataka, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 02 January 2019 (7+ years old) and is registered under CIN U72200KA2019PTC119955.
MWB Technologies India has 9 current directors:
- Mahaveer Gouthamchand Bafna - Director
- Rakeshkumar Urachand Bafna - Director
- Shripal Giridharilal Bafna - Director
- Hiteshkumar Ukachand Bafna - Director
- Giridharlalji Wagamal Bafna - Director
- Dinesh Mohanlal Jain - Director
- Mukeshkumar Ukchand Bafna - Director
- Gautamchand Wagamal Bafna - Director
- Ukhachand Wagamal Bafna - Director
The latest financial statements of MWB Technologies India 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 FY 2019 are in the company report.
The GSTIN of MWB Technologies India is 29AAMCM3313M1Z3, registered in Karnataka.
The CIN (Corporate Identification Number) of MWB Technologies India is U72200KA2019PTC119955. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
MWB Technologies India has 2 court cases on record: 2 filed against it. 1 is pending.
MWB Technologies India was incorporated on 02 January 2019, making it 7+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of MWB Technologies India by revenue are Bramcon Solutions Private Limited, Atirath Technologies Private Limited, Codeland Infosolutions Private Limited, Nayamsoft India Private Limited, Nimbylz Technology Solutions Private Limited and 5 more, all in the same principal business activity (publishing of computer operating systems, system software, application software, games, etc.).
Shivanand R Belagali ceased to be Director on 14 Oct 2021. Gautamchand Wagamal Bafna was appointed as Director on 30 Aug 2019. Giridharlalji Wagamal Bafna was appointed as Director on 30 Aug 2019. MWB Technologies India has 10 board changes on record in total.
Yes, MWB Technologies India is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, MWB Technologies India is registered as a micro enterprise under Udyam registration (number: UDYAM-KR-13-0015521).