About N.C.L.Research And Financial Services Ltd.
Data last updated: 13 July 2026
N.C.L.Research And Financial Services Ltd. is a public limited company based in Mumbai, Maharashtra, India. It specialises in investment and credit NBFC, a part of the broader financial services sector. Incorporated on 04 February 1985, the company has been in operation for over 41 years.
Registered with ROC Mumbai under CIN L65921MH1985PLC284739. Listed on BSE: 530557.
Capital: an authorised share capital of ₹159 Cr and a paid-up capital of ₹107.03 Cr. Formerly known as Navneet Commercial Company Limited. It is led by directors including Swagata Dasgupta and Sudipta Bhattacharya.
Last AGM: 29 September 2025. Financial statements filed for year ended 31 March 2025. Office: Mumbai, Maharashtra.
As per BSE-filed standalone financials for FY 2024, the company reported a revenue of ₹11.63 Cr, reflecting significant growth compared to the previous year. The net worth stands at ₹110.81 Cr (down 10.72% YoY). Total assets are valued at ₹113.31 Cr (down 12.19% YoY).
The company is associated with 1 brand - Ncl Research & Financial Services.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website nclfin.com.
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Registered Address208 2Nd Floor 212 West Wing Tulsiani Chambers, Free Press Journal Marg, Mumbai, Maharashtra, India – 400021
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IndustryFinancial Services, Investment & Credit NBFC, NBFC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L65921MH1985PLC284739, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L65921MH1985PLC284739 | Current |
| U65921UP1985PLC007001 | Previous |
| L65921UP1985PLC007001 | Previous |
Associated Brands with N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. operates one associated brand: NCL Research & Financial Services. These brands represent N.C.L.Research And Financial Services Ltd.'s diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Securities trading and financial research services are provided in India. | nclfin.com |
Business Activity of N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. is engaged in the principal business activity of financial and insurance service, with detailed activities including other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details for N.C.L.Research And Financial Services Ltd.
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
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Auditor Details of N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. is audited by D B S & ASSOCIATES for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| D B S & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history for N.C.L.Research And Financial Services Ltd.
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
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- Auditor changes
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Board of Directors of N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. is currently managed by 5 directors, with 15 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Swagata Dasgupta | Director | 12 Feb 2022 | 4 Years 5 Months | Current |
|
Sudipta Bhattacharya
Also directs:
N.C.L.Research And Financial Services Ltd., Khoobsurat Ltd
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Director | 11 Oct 2022 | 3 Years 9 Months | Current |
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Rajeswari Bangal
Also directs:
N.C.L.Research And Financial Services Ltd., Voltaire Leasing And Finance Ltd, Vaishno Cement Company Ltd. and 1 more
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Director | 12 Feb 2022 | 4 Years 5 Months | Current |
|
Goutam Bose
Also directs:
N.C.L.Research And Financial Services Ltd., Rupasi Traders Pvt Ltd
|
Managing Director | 25 Jul 2009 | 16 Years 11 Months | Current |
| Haimonti Das | Director | 11 Oct 2022 | 3 Years 9 Months | Current |
Financials of N.C.L.Research And Financial Services Ltd. FY 2024 filings available
N.C.L.Research And Financial Services Ltd. reported revenue of ₹11.63 Cr (up 197.76% YoY) for FY 2024.
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|
| Revenue from Operations | ₹11.63 Cr | ₹3.91 Cr | ₹1.88 Cr | ₹1.85 Cr | ₹3.37 Cr |
| Interest Earned | ₹4.72 Cr | ₹3.28 Cr | ₹1.84 Cr | ₹1.52 Cr | - |
| Other Income | ₹0 | ₹5.69 Lakh | ₹9.4 Lakh | ₹1.2 Lakh | ₹2.41 Lakh |
| Total Income | ₹11.63 Cr | ₹3.96 Cr | ₹1.97 Cr | ₹1.86 Cr | - |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹7.39 Cr | ₹0 | ₹1.99 Lakh | ₹91,600 | ₹1.65 Cr |
| Changes in Inventories | -₹65.18 Lakh | ₹1.37 Cr | -₹98.5 Lakh | ₹34.34 Lakh | ₹38.64 Lakh |
| Employee Benefit Expense | ₹75.37 Lakh | ₹38.42 Lakh | ₹31.8 Lakh | ₹72.17 Lakh | ₹74.51 Lakh |
| Finance Costs | ₹0 | ₹11 Lakh | ₹0 | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹5.29 Lakh | ₹5 Lakh | ₹5.26 Lakh | ₹0 | - |
| Other Expenses | ₹2.1 Cr | ₹1.25 Cr | ₹1.36 Cr | ₹76.85 Lakh | ₹45.23 Lakh |
| Total Expenses | ₹9.64 Cr | ₹3.16 Cr | ₹91.19 Lakh | ₹1.84 Cr | ₹3.24 Cr |
| Profit Before Exceptional Items & Tax | ₹1.99 Cr | ₹80.25 Lakh | ₹1.06 Cr | ₹1.51 Lakh | - |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | - |
| Profit Before Tax | ₹1.99 Cr | ₹80.25 Lakh | ₹1.06 Cr | ₹1.51 Lakh | ₹15.92 Lakh |
| Total Tax Expense | ₹37.69 Lakh | ₹20.19 Lakh | ₹1.56 Lakh | ₹40,500 | ₹4.72 Lakh |
| Net Profit | ₹1.61 Cr | ₹60.07 Lakh | ₹1.04 Cr | ₹1.11 Lakh | ₹11.21 Lakh |
| Other Comprehensive Income | -₹14.98 Cr | ₹11.75 Cr | ₹0 | ₹0 | - |
| Total Comprehensive Income | -₹13.37 Cr | ₹12.35 Cr | ₹1.04 Cr | ₹1.11 Lakh | - |
| EBITDA (computed) | ₹2.04 Cr | ₹96.26 Lakh | ₹1.11 Cr | ₹1.51 Lakh | - |
| Basic EPS | ₹0.02 | ₹0.01 | ₹0.02 | ₹0.00 | - |
| Diluted EPS | ₹0.02 | ₹0.01 | ₹0.02 | ₹0.00 | - |
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|
| Total Assets | ₹113.31 Cr | ₹129.04 Cr | ₹64.3 Cr | ₹62.17 Cr | ₹62.22 Cr |
| Non-current Assets | - | - | - | - | ₹1.71 Lakh |
| Current Assets | - | - | - | - | ₹62.21 Cr |
| Property, Plant & Equipment | ₹17.18 Lakh | ₹16.6 Lakh | ₹21.01 Lakh | ₹2.27 Lakh | - |
| Inventories | ₹1.32 Cr | ₹67.15 Lakh | ₹2.04 Cr | ₹1.05 Cr | ₹1.74 Cr |
| Cash & Equivalents | ₹21.71 Lakh | ₹13.18 Lakh | ₹4.98 Lakh | ₹16.67 Lakh | ₹6.2 Lakh |
| Equity (Net Worth) | ₹110.81 Cr | ₹124.12 Cr | ₹62.99 Cr | ₹61.9 Cr | - |
| Equity Share Capital | ₹107.03 Cr | ₹107.03 Cr | ₹58.17 Cr | ₹29.09 Cr | - |
| Current Liabilities | - | - | - | - | ₹37.09 Lakh |
| Total Liabilities | ₹2.49 Cr | ₹4.93 Cr | ₹1.31 Cr | ₹26.61 Lakh | - |
| Metrics | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Cash Flow | -₹16.45 Cr | ₹10.08 Cr | -₹14.82 Cr |
| Investing Cash Flow | ₹16.56 Cr | -₹58.08 Cr | ₹14.08 Cr |
| Financing Cash Flow | ₹0 | ₹47.86 Cr | ₹1 Cr |
| Capital Expenditure | ₹5.87 Lakh | ₹0 | ₹0 |
| Free Cash Flow (computed) | -₹16.51 Cr | ₹10.08 Cr | -₹14.82 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹11.04 Lakh | -₹14.15 Lakh | ₹26.41 Lakh |
| Metrics | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|
| Revenue from Operations | ₹2.47 Cr | ₹2.54 Cr | ₹1.38 Cr |
| Interest Earned | ₹1.33 Cr | ₹1.3 Cr | ₹1.15 Cr |
| Other Income | ₹0 | ₹41,400 | ₹89.42 Lakh |
| Total Income | ₹2.47 Cr | ₹2.54 Cr | ₹2.28 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹2.58 Cr |
| Changes in Inventories | ₹2.62 Cr | ₹45.51 Lakh | -₹2.35 Cr |
| Employee Benefit Expense | ₹15.72 Lakh | ₹14.48 Lakh | ₹22.76 Lakh |
| Finance Costs | ₹1.97 Lakh | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹1.79 Lakh | ₹1.23 Lakh | ₹1.24 Lakh |
| Other Expenses | ₹17.61 Lakh | ₹43.48 Lakh | ₹3.55 Cr |
| Total Expenses | ₹2.99 Cr | ₹1.05 Cr | ₹4.02 Cr |
| Profit Before Exceptional Items & Tax | -₹52.06 Lakh | ₹1.49 Cr | -₹1.74 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹52.06 Lakh | ₹1.49 Cr | -₹1.74 Cr |
| Total Tax Expense | -₹13.76 Lakh | ₹40.39 Lakh | ₹41.92 Lakh |
| Net Profit | -₹38.3 Lakh | ₹1.09 Cr | -₹2.16 Cr |
| Other Comprehensive Income | -₹29.33 Lakh | -₹12.59 Lakh | ₹4.11 Cr |
| Total Comprehensive Income | -₹67.63 Lakh | ₹96.31 Lakh | ₹1.95 Cr |
| EBITDA (computed) | -₹48.3 Lakh | ₹1.51 Cr | -₹1.73 Cr |
| Basic EPS | ₹0.00 | ₹0.01 | ₹-0.02 |
| Diluted EPS | ₹0.00 | ₹0.01 | ₹-0.02 |
Shareholding Pattern of N.C.L.Research And Financial Services Ltd.
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, retail and other public shareholders hold 100.00% of N.C.L.Research And Financial Services Ltd.. The company had 426,851 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | - | - | - | - | - | - |
| Public | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | - | - | - |
| Public | 100.00% | 100.00% | 100.00% |
| Promoter change (YoY, %pts) | - | - | - |
Charges & Borrowings N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at N.C.L.Research And Financial Services Ltd.
View historical data on people associated with N.C.L.Research And Financial Services Ltd., including employment history and EPFO contributions.
Employee and EPFO history for N.C.L.Research And Financial Services Ltd.
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GST Compliance of N.C.L.Research And Financial Services Ltd.
GST registrations and filing compliance for N.C.L.Research And Financial Services Ltd.
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Credit Ratings, Litigation & Regulatory Alerts for N.C.L.Research And Financial Services Ltd.
Credit ratings, litigation, and regulatory alerts for N.C.L.Research And Financial Services Ltd.
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MSME Payment Delays by N.C.L.Research And Financial Services Ltd.
MSME payment history for N.C.L.Research And Financial Services Ltd.
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Subsidiaries & Group Companies of N.C.L.Research And Financial Services Ltd.
Corporate group structure for N.C.L.Research And Financial Services Ltd.
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MCA Filings & Documents of N.C.L.Research And Financial Services Ltd.
MCA filings and documents for N.C.L.Research And Financial Services Ltd.
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Recent Activity on N.C.L.Research And Financial Services Ltd.
Recent News on N.C.L.Research And Financial Services Ltd.
Frequently Asked Questions about N.C.L.Research And Financial Services Ltd.
N.C.L.Research And Financial Services Ltd. is an active public limited company in the financial services sector based in Mumbai, Maharashtra, India. It was incorporated on 04 February 1985 (41+ years old) and is registered under CIN L65921MH1985PLC284739. Listed on BSE: 530557.
N.C.L.Research And Financial Services Ltd. reported revenue of ₹11.63 Cr for FY 2024 (up 197.76% YoY) based on standalone BSE filings.
The current directors of N.C.L.Research And Financial Services Ltd. are:
- Swagata Dasgupta - Director
- Sudipta Bhattacharya - Director
- Rajeswari Bangal - Director
- Goutam Bose - Managing Director
- Haimonti Das - Director
The primary industry of N.C.L.Research And Financial Services Ltd. is financial services. The company specifically operates in investment and credit nbfc. The company is currently active in this sector.
Yes. N.C.L.Research And Financial Services Ltd. is listed on BSE with code 530557.
N.C.L.Research And Financial Services Ltd. can be reached at the registered office: 208 2Nd Floor 212 West Wing Tulsiani Chambers, Free Press Journal Marg, Mumbai, Maharashtra, India – 400021, or through the website nclfin.com.