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Novopay Solutions Private Limited - financial services in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹36.41 Cr
▼ 1% YoY
Net loss · FY 2025
₹5.77 Cr
Net margin -15.8%
EBITDA · FY 2025
-₹4.21 Cr
EBITDA margin -11.6%
Authorised capital
₹23 Lakh
Registered with MCA
Paid-up capital
₹12.26 Lakh
Issued & subscribed
Satisfied charges
₹20 Cr
No open charges
Company age
12 yrs
Est. 2014
Employees · EPFO
242
Provident fund records
About Novopay Solutions Private Limited
Data last updated:
Novopay Solutions Private Limited is a private limited company based in Bangalore, Karnataka, India, recognised as a startup by DPIIT. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 20 February 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2014PTC073736. Its GSTIN is 29AAECN6114F1ZK (Karnataka).
The company has an authorised share capital of ₹23 Lakh and a paid-up capital of ₹12.26 Lakh. It is led by directors Gautam Bandyopadhyay and Srikanth Nadhamuni.
Its last annual general meeting (AGM) was held on 27 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹36.41 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net loss of ₹5.77 Cr (net margin -15.8%) and EBITDA of -₹4.21 Cr (EBITDA margin -11.6%). Revenue has declined at a compounded annual rate (CAGR) of 25% over three years and 14% over five years.
The company has about 242 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Trustt. As per MCA filings, the company has satisfied charges of ₹20 Cr on record. Court records list 9 cases involving the company, including 7 filed by the company and 2 filed against it; 3 cases are pending. The company has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023. Its 10 peer companies in the BFSI industry (Payment Solution Providers) are compared by revenue, 5 larger and 5 smaller; the largest is Easy Pay Limited with revenue of ₹40.45 Cr. The company has 13 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 14 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website novopay.in.
Company Details of Novopay Solutions Private Limited
CIN U72200KA2014PTC073736
Registration Number 073736
Incorporation Date 20 February 2014
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 27 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
Recognitions & Rankings of Novopay Solutions
Contact Details
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Apps
- Registered AddressII Floor No 18/2A Khata No 629 Ambalipura Villa Sarjapura Main Road Bellandur Gate Var, Thur Hobli, Bangalore, Karnataka, India – 560102
- IndustryFinancial Services, Digital Payment Solutions
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Associated Brands with Novopay Solutions Private Limited
Novopay Solutions operates one associated brand: Trustt. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Diversified digital solutions for banks and financial institutions are offered. | trustt.com |
Business Activity of Novopay Solutions Private Limited
The main business activities of Novopay Solutions are information and communication and financial and insurance service. In detail, this covers computer programming, consultancy and related activities and other financial 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 |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities | Locked |
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
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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 Novopay Solutions Private Limited FY 2024 filings available
Novopay Solutions Private Limited reported revenue of ₹36.41 Cr (down 1% YoY) for FY 2025.
Revenue · FY 2025
₹36.41 Cr ▼ 1%
Net loss · FY 2025
₹5.77 Cr margin -15.8%
EBITDA · FY 2025
-₹4.21 Cr margin -11.6%
Compounded Annual Growth Rate (CAGR) of Novopay Solutions Private Limited
Revenue CAGR growth
1 year
▼ 1%
3 years · compounded
▼ 25%
5 years · compounded
▼ 14%
EBITDA CAGR growth
1 year
▼ 202%
3 years · compounded
▼ 55%
5 years · compounded
▼ 79%
Revenue has declined at a compounded annual rate (CAGR) of 14% over five years, including a 1% fall in the latest year. EBITDA fell 202% 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 Novopay Solutions 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 | -₹4.21 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹5.77 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 | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Novopay Solutions Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -11.6% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -15.8% | •••• | •••• | •••• | •••• |
| 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 Novopay Solutions are in the company report.
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Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
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Verified entity values are shown only after access is granted.
Board of Directors of Novopay Solutions Private Limited
Novopay Solutions has 2 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Srikanth Nadhamuni Also directs: Klarity Intelligence (India) Private Limited, Khosla Labs Private Limited, Totemic Labs India Private Limited and 3 more | Nominee Director | 07 Jul 2014 | 12 Years 3 Months | Current |
| Gautam Bandyopadhyay | Director | 26 Apr 2019 | 7 Years 5 Months | Current |
Peer Comparison of Novopay Solutions Private Limited
Novopay Solutions 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 |
|---|---|---|---|---|---|---|
| Easy Pay Limited | ₹40.45 Cr (FY 2025) | •••• | •••• | 88.0% | •••• | Ahmeadabad, Gujarat, India |
| Image Infosystems Private Limited | ₹39.43 Cr (FY 2025) | •••• | •••• | 29.0% | •••• | Delhi, India |
| Pay Panda Payment Solution Private Limited | ₹39.11 Cr (FY 2025) | •••• | •••• | 81.0% | •••• | Noida, Uttar Pradesh, India |
| Nirmal Infoline Private Limited | ₹38.06 Cr (FY 2024) | •••• | •••• | -54.0% | •••• | Kachchh, Gujarat, India |
| Truepaypoint Private Limited | ₹37.54 Cr (FY 2025) | •••• | •••• | -27.0% | •••• | Panipat, Haryana, India |
| Novopay Solutions Private Limited this company | ₹36.41 Cr (FY 2025) | •••• | •••• | -1.0% | •••• | Bangalore, Karnataka, India |
| Payzigo Fintech Private Limited | ₹36.07 Cr (FY 2023) | •••• | •••• | 193.0% | •••• | Hyderabad, Telangana, India |
| Mobileware Technologies Private Limited | ₹34.01 Cr (FY 2025) | •••• | •••• | 99.0% | •••• | Mumbai, Maharashtra, India |
| Ocl Tech Platforms Limited | ₹33.25 Cr (FY 2025) | •••• | •••• | 1801.0% | •••• | New Delhi, Delhi, India |
| Innopay Technologies Private Limited | ₹32.52 Cr (FY 2024) | •••• | •••• | 149.0% | •••• | Bangalore, Karnataka, India |
| Cardot Info Solutions Private Limited | ₹31.86 Cr (FY 2023) | •••• | •••• | -44.0% | •••• | Dibai Bulandshahr, Uttar Pradesh, India |
Peers are the five companies nearest above and the five nearest below Novopay Solutions 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 Novopay Solutions Private Limited
Novopay Solutions Private Limited is audited by MSKA & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| MSKA & ASSOCIATES | 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 Novopay Solutions Private Limited
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Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
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Charges & Borrowings of Novopay Solutions Private Limited
Open charges
None
Satisfied charges
₹20 Cr
Breakdown by lending institutions
Latest charge details
| Date | Lender | Amount | Status |
|---|---|---|---|
| 11 Jul 2018 | Others | ₹20 Cr | Satisfied |
Total charge records: 1 View all charges
Deals & Funding of Novopay Solutions Private Limited
Novopay Solutions Private Limited has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023.
Total deals
21
Secondary share transfers
16
Funding rounds
4
Convertible or debt financing
1
Disclosed funding
₹62.24 Cr
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2023 | Secondary share transfer | Undisclosed | Buyer: Novopay Employees Share Ownership Plan Trust, 3 individuals Seller: Idfc Limited |
| Jun 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
| May 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
| Apr 2023 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Idfc Limited |
| Oct 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
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Full deal history
All 21 deals with amounts, valuations, instruments and every party are in the company report.
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- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Novopay Solutions Private Limited
Novopay Solutions Private Limited has 9 court cases on record: 7 filed by Novopay Solutions, 2 filed against it. 3 cases are pending and 6 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Total cases
9
Filed by the company
7
Filed against the company
2
Pending
3
Disposed
6
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 1 | 2 |
| High courts | 4 | 1 | 1 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against Reserve Bank Innovation Hub | Pending |
| District court, Gurugram, Haryana | Civil miscellaneous application | Filed by the company against an individual | Pending |
| District court, North West, Delhi | Court case (CS (COMM.)) | Filed by the company against Infomatic Solution Private Limited | Pending |
| High Court of Karnataka | Appeal | Filed against the company by Deputy/Assistant Commissioner | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.EX.) | Filed against the company by an individual | Disposed |
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Full case history
All 9 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
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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 by Novopay Solutions Private Limited
Novopay Solutions Private Limited has 13 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 14 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 14)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Ranapay India Private Limited | •••• | •••• | •••• |
| Safalpay India Private Limited | •••• | •••• | •••• |
| Moneypro Wealth Management & Financial Services Private Limited | •••• | •••• | •••• |
| Nso Services Private Limited | •••• | •••• | •••• |
| Finyty Technology Private Limited | •••• | •••• | •••• |
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Full MSME payment history
Every supplier, amount and due date from all 13 MSME Form 1 returns is in the company report.
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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Novopay Solutions Private Limited
Novopay Solutions Private Limited has a workforce of 242 employees as of Apr 07, 2024.
Employee count
242
Active EPFO establishments
1
Employee growth
7.56%
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Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
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Group Structure of Novopay Solutions Private Limited
Novopay Solutions has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key Subsidiaries
| Company Name | CIN | Shares Held |
|---|---|---|
| Novopay Retail Solutions Private Limited | U66190KA2023PTC171150 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Novopay Solutions Private Limited
Novopay Solutions Private Limited has 14 board changes on record since 2014: 2 appointments and 12 cessations. The latest: Bipin Narandas Gemani ceased to be Nominee Director on 28 Nov 2023.
AGM
Novopay Solutions Private Limited last Annual general meeting of members was held on 27 Sep 2024 as per latest MCA records.
Filing
Novopay Solutions Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Ceased
Bipin Narandas Gemani ceased to be Nominee Director.
Ceased
Sunil Kakar ceased to be Nominee Director.
Ceased
Prashanth Yedabettu Narayan ceased to be Director.
Ceased
Sunil Abhilash Ramanuja ceased to be Additional Director.
Charges
A charge registered on 11 Jul 2018 via Charge ID 100189006 with Others was fully satisfied on 14 Aug 2020.
Ceased
Arun Kumar Krishnaiah Sevakule ceased to be Director.
Charges
A charge with Others of Rs. 2,000.00 Lakh registered on 11 Jul 2018 with Charge ID 100189006 was modified on 23 Jan 2020.
Ceased
Gautam Bandyopadhyay ceased to be Additional Director.
Appointed
Gautam Bandyopadhyay was appointed as Director.
Ceased
Krishna Ramesh Hegde ceased to be Additional Director.
8 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Novopay Solutions Private Limited
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Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
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Subsidiaries & Group Companies of Novopay Solutions Private Limited
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Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
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GST Compliance of Novopay Solutions Private Limited
Novopay Solutions has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECN6114F1ZK | Karnataka | Active | 01 Jul 2017 |
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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 Novopay Solutions Private Limited
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MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
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Related news about Novopay Solutions Private Limited
Frequently Asked Questions about Novopay Solutions Private Limited
Novopay Solutions 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 20 February 2014 (12+ years old) and is registered under CIN U72200KA2014PTC073736.
Novopay Solutions reported revenue of ₹36.41 Cr for FY 2025 (down 1% YoY).
Novopay Solutions has 2 current directors:
- Srikanth Nadhamuni - Nominee Director
- Gautam Bandyopadhyay - Director
Novopay Solutions reported a net loss of ₹5.77 Cr (net margin -15.8%) and EBITDA of -₹4.21 Cr (EBITDA margin -11.6%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Novopay Solutions is -25% over three years and -14% over five years. In the latest year (FY 2025) revenue fell 1%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Novopay Solutions is 29AAECN6114F1ZK, registered in Karnataka.
The CIN (Corporate Identification Number) of Novopay Solutions is U72200KA2014PTC073736. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Novopay Solutions has 9 court cases on record: 7 filed by the company and 2 filed against it. 3 are pending. Most are in the district courts.
Novopay Solutions was incorporated on 20 February 2014, making it 12+ years old. It is registered with the Registrar of Companies, Bangalore.
Novopay Solutions has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023.
The peers of Novopay Solutions by revenue are Easy Pay Limited, Image Infosystems Private Limited, Pay Panda Payment Solution Private Limited, Nirmal Infoline Private Limited, Truepaypoint Private Limited and 5 more, all in the BFSI industry (Payment Solution Providers).
Bipin Narandas Gemani ceased to be Nominee Director on 28 Nov 2023. Sunil Kakar ceased to be Nominee Director on 30 Sep 2022. Prashanth Yedabettu Narayan ceased to be Director on 05 Aug 2022. Novopay Solutions has 14 board changes on record in total.