Onward Chits Private Limited
About Onward Chits Private Limited
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Onward Chits Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the financial services and investment segment of the financial services sector. It was incorporated on 04 April 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U65992KA1988PTC009005. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹8.01 Lakh. It is led by directors including Stanikam Nagabhushan (Managing Director) and Tiluvalli Venkatesh Murthy.
Its last annual general meeting (AGM) was held on 30 November 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office is at No.38 New No.122 5th Main 6th Cross Malleshwaram, Bangalore, Karnataka, India – 560003.
As per the financials filed for FY 2021, the company reported a revenue of ₹8.91 Lakh, a decline of 71% compared to the previous year. For the same year it recorded a net profit of ₹7,564 (net margin 0.8%) and EBITDA of ₹3.87 Lakh (EBITDA margin 43.5%). Revenue has declined at a compounded annual rate (CAGR) of 37% over three years and 27% over five years.
Court records list 7 cases involving the company, including 6 filed by the company and 1 filed against it.
The current compliance status is marked as active non-compliant by the Registrar of Companies.
Company details
Contact details
Onward Chits Private Limited's registered office is in Bangalore, Karnataka. Its e-mail address is in the company report.
- Email
- Registered AddressNo.38 New No.122 5th Main 6th Cross Malleshwaram, Bangalore, Karnataka, India – 560003
- IndustryFinancial Services, Financial Activities
To see the full contact details of Onward 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 Onward 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 Onward Chits Private Limited, buy the company report.
Financials of Onward Chits Private Limited
FY 2021 filings availableOnward Chits Private Limited reported revenue of ₹8.91 Lakh (down 71% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 27% over five years, including a 71% fall in the latest year. EBITDA fell 56% 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 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
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| EBITDA | ₹3.87 Lakh | ||||
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| Net Profit (PAT) | ₹7,564 | ||||
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Financial Ratios
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 43.5% | ||||
| Net Profit Margin | 0.8% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Onward Chits Private Limited, buy the company report.
Board of directors of Onward Chits Private Limited
Onward Chits has 3 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Stanikam Nagabhushan | Managing Director | 04 Apr 1988 | 38 Years 6 Months | Current |
| Tiluvalli Venkatesh Murthy | Director | 04 Apr 1988 | 38 Years 6 Months | Current |
| Sthanikam Suresh | Director | 20 Mar 2014 | 12 Years 7 Months | Current |
Peer comparison
Onward Chits Private Limited is compared with the 10 companies closest to it by revenue in 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 |
|---|---|---|---|---|---|---|
| Rameshwar Urban Nidhi Limited | ₹8.92 Lakh (FY 2021) | Bhokardan, Maharashtra, India | ||||
| Neelkamal Power Private Limited | ₹8.92 Lakh (FY 2024) | 671.0% | Kolkata, West Bengal, India | |||
| Maharaksha Chit Funds Private Limited | ₹8.92 Lakh (FY 2016) | 9.0% | Mancherial, Telangana, India | |||
| Jairam Credit Pvt Ltd | ₹8.91 Lakh (FY 2021) | -87.0% | Kolkata, West Bengal, India | |||
| Winsome Commercial Pvt. Ltd. | ₹8.91 Lakh (FY 2024) | 11.0% | Kolkata, West Bengal, India | |||
| Onward Chits Private Limitedthis company | ₹8.91 Lakh (FY 2021) | ₹7,564 | 0.8% | -71.0% | Bangalore, Karnataka, India | |
| Akshobyaa Chit Funds Private Limited | ₹8.9 Lakh (FY 2020) | 51.0% | Railway Gate, Telangana, India | |||
| Festino Trading & Suppliers Pvt Ltd | ₹8.89 Lakh (FY 2025) | 13.0% | Kolkata, West Bengal, India | |||
| N&N India Nidhi Limited | ₹8.89 Lakh (FY 2025) | 34.0% | Udaipur, Rajasthan, India | |||
| Vishwamukha Chit Funds Private Limited | ₹8.89 Lakh (FY 2017) | -46.0% | Bangalore, Karnataka, India | |||
| Karunya Deepam Kuries Private Limited | ₹8.88 Lakh (FY 2024) | -8.0% | Thrissur, Kerala, India |
To see the full peer comparison of Onward Chits Private Limited, buy the company report.
Auditor
Onward Chits Private Limited is audited by K. SRIRANGRAJAN & ASSOCIATES for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K. SRIRANGRAJAN & ASSOCIATES | FY 2017 | 004067S |
Shareholding
The shareholding of Onward Chits Private Limited is on record for 3 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Onward Chits Private Limited, buy the company report.
Legal cases
Onward Chits Private Limited has 7 court cases on record: 6 filed by Onward Chits, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 0 | 0 |
| High courts | 1 | 1 | 0 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (CRL.R.P.) | Filed by the company against an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
| District court, BENGALURU, Karnataka | Court case (CRL.R.P.) | Filed by the company against an individual | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against an individual | Disposed |
To see the full case history of Onward 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 Onward Chits Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Onward Chits has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Onward Chits Private Limited, buy the company report.
Recent activity
Onward Chits Private Limited has 7 board changes on record since 1988: 5 appointments and 2 cessations. The latest: Bangalore Nanjundaiah Shankar Narayan ceased to be Director on 03 Feb 2016.
Frequently asked questions
Onward Chits is an active private limited company based in Bangalore, Karnataka, India. The company works in financial activities, within the financial services industry. It was incorporated on 04 April 1988 (38+ years old) and is registered under CIN U65992KA1988PTC009005.
Onward Chits has 3 current directors:
- Stanikam Nagabhushan - Managing Director
- Tiluvalli Venkatesh Murthy - Director
- Sthanikam Suresh - Director
The latest financial statements of Onward Chits on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 30 November 2021. Year-wise statements from 2015 are in the company report.
No. Onward Chits has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of Onward Chits is U65992KA1988PTC009005. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Onward Chits has 7 court cases on record: 6 filed by the company and 1 filed against it. Most are in the district courts.
Onward Chits was incorporated on 04 April 1988, making it 38+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Onward Chits by revenue are Rameshwar Urban Nidhi Limited, Neelkamal Power Private Limited, Maharaksha Chit Funds Private Limited, Jairam Credit Pvt Ltd, Winsome Commercial Pvt. Ltd. and 5 more, all in the same principal business activity (other financial activities).
Bangalore Nanjundaiah Shankar Narayan ceased to be Director on 03 Feb 2016. Sthanikam Suresh was appointed as Director on 20 Mar 2014. Bhupasamudram Surya Narayana Rao ceased to be Managing Director on 08 Apr 2008. Onward Chits has 7 board changes on record in total.
The registered office of Onward Chits is at No.38 New No.122 5th Main 6th Cross Malleshwaram, Bangalore, Karnataka, India – 560003.
Onward Chits operates in the financial services industry, in the financial activities segment.