MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-KR-03-0174350
Naffa Innovations Private Limited - financial services in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹47.82 Cr
▲ 103% YoY
Net profit · FY 2024
₹20.84 Cr
Net margin 43.6%
EBITDA · FY 2024
₹25.83 Cr
EBITDA margin 54%
Authorised capital
₹25 Lakh
Registered with MCA
Paid-up capital
₹9.8 Lakh
Issued & subscribed
Open charges
₹35.15 Cr
Satisfied ₹20 Cr
Company age
13 yrs
Est. 2013
Employees · EPFO
66
Provident fund records
About Naffa Innovations Private Limited
Data last updated:
Naffa Innovations Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 02 September 2013 and has been in existence for over 13 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72300KA2013PTC087276. Its GSTIN is 29AAECN5025F1ZK (Karnataka). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹9.8 Lakh. It is led by directors including Kumar Abhishek and Pushkar Jauhari.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 117 The Arcade Brigade Metropolis Garudachar Palya Mahadevapura, Bangalore, Karnataka, India – 560048.
As per the financials filed for FY 2024, the company reported a revenue of ₹47.82 Cr, a growth of 103% compared to the previous year. For the same year it recorded a net profit of ₹20.84 Cr (net margin 43.6%) and EBITDA of ₹25.83 Cr (EBITDA margin 54%). Revenue has grown at a compounded annual rate (CAGR) of 55% over three years and 58% over five years.
The company has about 66 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 2 brands: MobileGullak and ToneTag. As per MCA filings, the company has open charges of ₹35.15 Cr and satisfied charges of ₹20 Cr on record. The company has 20 deals on record (11 secondary share transfers, 7 funding rounds, 2 debt financings), with disclosed funding of ₹288.66 Cr; the latest was in February 2026. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is Mahuli Fintech Private Limited with revenue of ₹51.3 Cr.
Naffa Innovations Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0174350). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website tonetag.com.
Company Details of Naffa Innovations Private Limited
CIN U72300KA2013PTC087276
Registration Number 087276
Incorporation Date 02 September 2013
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-KR-03-0174350
CIN History of Naffa Innovations Private Limited
Naffa Innovations has one previous CIN (Corporate Identification Number): U72300UP2013PTC059335. The current CIN is U72300KA2013PTC087276, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72300KA2013PTC087276 | Current |
| U72300UP2013PTC059335 | Previous |
Recognitions & Rankings of Naffa Innovations
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered Address117 The Arcade Brigade Metropolis Garudachar Palya Mahadevapura, Bangalore, Karnataka, India – 560048
- IndustryFinancial Services, Digital Payment Solutions
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Associated Brands with Naffa Innovations Private Limited
Naffa Innovations operates two associated brands: MobileGullak and ToneTag. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers innovative loose-change management solutions for offline retailers. | mobilegullak.in | |
| Soundwave technology for contactless payments and business solutions is provided. | tonetag.com |
Business Activity of Naffa Innovations Private Limited
The main business activity of Naffa Innovations is information and communication. In detail, this covers publishing of computer operating systems, system software, application software, games, etc..
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J2 | Publishing of computer operating systems, system software, application software, games, etc. | Locked |
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Business activity turnover details
Turnover share and past changes in activity are in the company report.
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Financials of Naffa Innovations Private Limited FY 2024 filings available
Naffa Innovations Private Limited reported revenue of ₹47.82 Cr (up 103% YoY) for FY 2024.
Revenue · FY 2024
₹47.82 Cr ▲ 103%
Net profit · FY 2024
₹20.84 Cr margin 43.6%
EBITDA · FY 2024
₹25.83 Cr margin 54%
Compounded Annual Growth Rate (CAGR) of Naffa Innovations Private Limited
Revenue CAGR growth
1 year
▲ 103%
3 years · compounded
▲ 55%
5 years · compounded
▲ 58%
EBITDA CAGR growth
1 year
▲ 582%
3 years · compounded
▲ 429%
5 years · compounded
▲ 31%
Revenue has grown at a compounded annual rate (CAGR) of 58% over five years, including 103% growth in the latest year. EBITDA rose 582% 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 Naffa Innovations Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹25.83 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹20.84 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 | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Naffa Innovations Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 54% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 43.6% | •••• | •••• | •••• | •••• |
| 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 Naffa Innovations are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
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Board of Directors of Naffa Innovations Private Limited
Naffa Innovations has 5 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kumar Abhishek | Director | 20 Jan 2014 | 12 Years 9 Months | Current |
| Pushkar Jauhari | Director | 07 Feb 2025 | 1 Years 8 Months | Current |
| Ashok Ananthakrishnan Also directs: Ama Growth Advisors LLP, Ama Capital Advisors Private Limited, Ip Venture Advisors Private Limited and 2 more | Director | 07 Feb 2025 | 1 Years 8 Months | Current |
| Vivek Kumar Singh Also directs: Naffa Technologies Private Limited, Naffa Services Private Limited | Director | 02 Sep 2013 | 13 Years 1 Months | Current |
| Arun Seth Also directs: Trinetra Business Advisors India LLP, Jubilant Pharmova Limited, Jubilant Ingrevia Limited and 5 more | Director | 27 Apr 2016 | 10 Years 5 Months | Current |
Peer Comparison of Naffa Innovations Private Limited
Naffa Innovations Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Solution Providers). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mahuli Fintech Private Limited | ₹51.3 Cr (FY 2025) | •••• | •••• | 87.0% | •••• | Mumbai, Maharashtra, India |
| JS Digital Pay Private Limited | ₹49.96 Cr (FY 2025) | •••• | •••• | 2385.0% | •••• | Raghunathganj, West Bengal, India |
| Kashishindia Private Limited | ₹49.96 Cr (FY 2024) | •••• | •••• | 4448.0% | •••• | Jaipur, Rajasthan, India |
| MJ Digital Services Private Limited | ₹49.6 Cr (FY 2024) | •••• | •••• | -18.0% | •••• | New Delhi, Delhi, India |
| Soul Communications Private Limited | ₹47.85 Cr (FY 2023) | •••• | •••• | 425.0% | •••• | New Delhi, Delhi, India |
| Naffa Innovations Private Limited this company | ₹47.82 Cr (FY 2024) | •••• | •••• | 103.0% | •••• | Bangalore, Karnataka, India |
| LP Fintech Private Limited | ₹46.68 Cr (FY 2025) | •••• | •••• | 89.0% | •••• | Jaipur, Rajasthan, India |
| Freepaycard Retail Private Limited | ₹46.45 Cr (FY 2025) | •••• | •••• | 117.0% | •••• | Gurugram, Haryana, India |
| M.R.L Posnet Private Limited | ₹46.05 Cr (FY 2024) | •••• | •••• | -4.0% | •••• | Chennai, Tamil Nadu, India |
| Tickpay Private Limited | ₹45.71 Cr (FY 2025) | •••• | •••• | 103.0% | •••• | Dhanbad, Jharkhand, India |
| Tri O Tech Solutions Private Limited | ₹45.22 Cr (FY 2025) | •••• | •••• | 86.0% | •••• | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Naffa Innovations by revenue in the BFSI industry (Payment Solution Providers), 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 Naffa Innovations Private Limited
Naffa Innovations Private Limited is audited by NIRMAL KAUSHIK & CO for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| NIRMAL KAUSHIK & CO | Locked | Locked | Locked |
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Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
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Ownership and Shareholding of Naffa Innovations Private Limited
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Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Naffa Innovations Private Limited
Open charges
₹35.15 Cr
Satisfied charges
₹20 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 17 Apr 2024 | Others | ₹20 Cr | Open |
| 25 Jan 2024 | Others | ₹15 Cr | Open |
| 19 Jun 2019 | Others | ₹15 Lakh | Open |
| 17 Oct 2023 | Others | ₹20 Cr | Satisfied |
Total charge records: 4 View all charges
Deals & Funding of Naffa Innovations Private Limited
Naffa Innovations Private Limited has 20 deals on record (11 secondary share transfers, 7 funding rounds, 2 debt financings), with disclosed funding of ₹288.66 Cr; the latest was in February 2026.
Total deals
20
Secondary share transfers
11
Funding rounds
7
Debt financings
2
Disclosed funding
₹288.66 Cr
Deals on record (5 of 20)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2026 | Funding round | Undisclosed | Investors: Qualcomm Ventures |
| Apr 2024 | Debt financing | ₹15 Cr | Investors: Anicut Capital |
| Oct 2023 | Debt financing | ₹20 Cr | Investors: Anicut Capital |
| Jun 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Naffa Innovations Employees Welfare Trust |
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: Rcasl Corporate Advisory Services Limited Seller: Reliance Venture Asset Management Limited |
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Full deal history
All 20 deals with amounts, valuations, instruments and every party are in the company report.
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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Employees and EPFO Compliance at Naffa Innovations Private Limited
Naffa Innovations Private Limited has a workforce of 66 employees as of Mar 30, 2024.
Employee count
66
Active EPFO establishments
1
Employee growth
-16.46%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
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Group Structure of Naffa Innovations Private Limited
Naffa Innovations has 2 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
2
Subsidiary companies
Key Subsidiaries
| Company Name | CIN | Shares Held |
|---|---|---|
| Naffa Technologies Private Limited | U72900KA2021PTC152113 | Locked |
| Naffa Services Private Limited | U74999KA2021PTC152938 | Locked |
Showing major subsidiaries. Total: 2.
Recent Activity on Naffa Innovations Private Limited
Naffa Innovations Private Limited has 13 board changes on record since 2013: 5 appointments and 8 cessations. The latest: Ashok Ananthakrishnan ceased to be Additional Director on 09 Feb 2025.
Charges
A charge registered on 17 Oct 2023 via Charge ID 100850285 with Others was fully satisfied on 03 Nov 2025.
Ceased
Ashok Ananthakrishnan ceased to be Additional Director.
Ceased
Pushkar Jauhari ceased to be Additional Director.
Appointed
Ashok Ananthakrishnan was appointed as Director.
Appointed
Pushkar Jauhari was appointed as Director.
AGM
Naffa Innovations Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 2,000.00 Lakh with Charge ID 100936773 was registered on 17 Apr 2024.
Filing
Naffa Innovations Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 1,500.00 Lakh with Charge ID 100914800 was registered on 25 Jan 2024.
Charges
A charge with Others amounted to Rs. 2,000.00 Lakh with Charge ID 100850285 was registered on 17 Oct 2023.
Ceased
Aman Gudral ceased to be Nominee Director.
Ceased
Kshitij Kumar Gupta ceased to be Nominee Director.
9 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Naffa Innovations Private Limited
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MSME Payment Delays by Naffa Innovations Private Limited
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Subsidiaries & Group Companies of Naffa Innovations Private Limited
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GST Compliance of Naffa Innovations Private Limited
Naffa Innovations has 2 GST registrations: 2 active.
Total GSTINs
2
Active
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECN5025F1ZK | Karnataka | Active | 01 Jul 2017 |
| 07AAECN5025F1ZQ | Delhi | Active | 21 Dec 2023 |
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GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
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MCA Filings & Documents of Naffa Innovations Private Limited
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Related news about Naffa Innovations Private Limited
Frequently Asked Questions about Naffa Innovations Private Limited
Naffa Innovations is an active private limited company based in Bangalore, Karnataka, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 02 September 2013 (13+ years old) and is registered under CIN U72300KA2013PTC087276.
Naffa Innovations reported revenue of ₹47.82 Cr for FY 2024 (up 103% YoY).
Naffa Innovations has 5 current directors:
- Kumar Abhishek - Director
- Pushkar Jauhari - Director
- Ashok Ananthakrishnan - Director
- Vivek Kumar Singh - Director
- Arun Seth - Director
Naffa Innovations reported a net profit of ₹20.84 Cr (net margin 43.6%) and EBITDA of ₹25.83 Cr (EBITDA margin 54%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Naffa Innovations is 55% over three years and 58% over five years. In the latest year (FY 2024) revenue rose 103%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Naffa Innovations is 29AAECN5025F1ZK, registered in Karnataka. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 07AAECN5025F1ZQ (Delhi).
The CIN (Corporate Identification Number) of Naffa Innovations is U72300KA2013PTC087276. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Naffa Innovations was incorporated on 02 September 2013, making it 13+ years old. It is registered with the Registrar of Companies, Bangalore.
Naffa Innovations has 20 deals on record (11 secondary share transfers, 7 funding rounds, 2 debt financings), with disclosed funding of ₹288.66 Cr; the latest was in February 2026.
The peers of Naffa Innovations by revenue are Mahuli Fintech Private Limited, JS Digital Pay Private Limited, Kashishindia Private Limited, MJ Digital Services Private Limited, Soul Communications Private Limited and 5 more, all in the BFSI industry (Payment Solution Providers).
Ashok Ananthakrishnan ceased to be Additional Director on 09 Feb 2025. Pushkar Jauhari ceased to be Additional Director on 09 Feb 2025. Ashok Ananthakrishnan was appointed as Director on 07 Feb 2025. Naffa Innovations has 13 board changes on record in total.