Paul Merchants Limited

BSE: 539113
Paul Merchants Limited - financial services in New Delhi, Delhi, India. FY 2026 financials and compliance.
CIN L74900DL1984PLC018679 Incorporated 13 July 1984 ROC Delhi HQ New Delhi, Delhi, India
Active Listed - BSE: 539113 Public Limited Company financial services
Data last updated
Revenue · FY 2026
₹2,073.63 Cr
▼ 37.82% YoY
EBITDA · FY 2026
₹25.33 Cr
▲ 729.09% YoY
Net profit · FY 2026
₹268.74 Cr
▲ 320.99% YoY
Authorised capital
₹10.5 Cr
Registered with MCA
Paid-up capital
₹3.08 Cr
Issued & subscribed
Open charges
₹49.17 Cr
Satisfied ₹1,338.2 Cr
Company age
42 yrs
Est. 1984
Employees · EPFO
389
Latest available

About Paul Merchants Limited

Data last updated: 05 January 2026

Paul Merchants Limited is a public limited company based in New Delhi, Delhi, India. It specialises in forex services, a part of the broader financial services sector. Incorporated on 13 July 1984, the company has been in operation for over 42 years.

Registered with ROC Delhi under CIN L74900DL1984PLC018679. Listed on BSE: 539113.

Capital: an authorised share capital of ₹10.5 Cr and a paid-up capital of ₹3.08 Cr. Formerly known as Brite Agro Mills Limited. It is led by directors including Sarita Rani Bansal and Inder Sain Negi.

Last AGM: 19 September 2025. Financial statements filed for year ended 31 March 2025. Office: Dsm 335 336 337 3Rd Floor Dlf Tower 15 Shivaji Marg Najafgarh Road, New Delhi, Delhi, India – 110015.

As per the financials filed for FY 2023, the company reported a revenue of ₹6,921.69 Cr, a growth of 30.59% compared to the previous year.

The company has a workforce of approximately 389 employees as per the latest available data. Its group structure includes 2 subsidiaries.

The company is associated with 2 brands - Paul Fincap, Paul Merchants. As per MCA filings, the company has open charges of ₹49.17 Cr and satisfied charges of ₹1,338.2 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website paulmerchants.net.

Company Details of Paul Merchants Limited
CIN L74900DL1984PLC018679
Registration Number 018679
Incorporation Date 13 July 1984
ROC Delhi
Listing Status Listed (BSE: 539113)
Company Status Active
Date of Last AGM 19 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Rajneesh Bansal Managing Director Ritesh Vaid Whole-Time Director Sarita Rani Bansal Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    paulmerchants.net
  • Social Media
  • Registered Address
    Dsm 335 336 337 3Rd Floor Dlf Tower 15 Shivaji Marg Najafgarh Road, New Delhi, Delhi, India – 110015
  • Industry
    Financial Services, Forex Services
Company report
Paul Merchants Limited - full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Paul Merchants Limited in one report.

10-year financials Directors & ownership Charges & compliance

CIN History of Paul Merchants Limited

Paul Merchants Limited has one previous CIN (Corporate Identification Number): L15491DL1984PLC018679. The current CIN is L74900DL1984PLC018679, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
L74900DL1984PLC018679 Current
L15491DL1984PLC018679 Previous

Associated Brands with Paul Merchants Limited

Paul Merchants Limited operates two associated brands: Paul Fincap and Paul Merchants. These brands represent Paul Merchants Limited's diversified market presence and brand portfolio.

Brand Description Website
Paul Fincap
Offers gold loans, insurance, money transfer, and travel services to customers in India. paulfincap.com
Paul Merchants
Forex, money transfer, travel, and gold loan services are provided. paulmerchants.net

Competitors & Alternatives of Paul Merchants Limited

Brands and companies operating in the same space as Paul Merchants Limited include indiagold, Fibe, Branch and 5 more.

Competitor Description Location Founded
indiagold indiagold Gold loans are provided and digital gold purchases are facilitated. Gurugram, India, India 2020
Fibe Fibe Fibe is recognized as India's largest lending platform for instant credit solutions. Pune, India, India 2015
Branch Branch Branch is focused on providing faster workforce payment solutions. Minneapolis, United States, United States 2015
Finnable Finnable Online personal loans with minimal documentation are offered digitally. Bengaluru, India, India 2015
Kredivo Holdings Kredivo Holdings A consumer lending platform for financial applications is provided. Jakarta, Indonesia, Indonesia 2015
Rupeek Rupeek An online marketplace for gold loans is facilitated. Bengaluru, India, India 2015
PaySense PaySense Online platform for consumer loans Mumbai, India, India 2015
Lendbox Lendbox Lendbox is operated as a peer-to-peer lending platform in India. Delhi, India, India 2015

Business Activity of Paul Merchants Limited

Paul Merchants Limited operates primarily in the financial and insurance service and support service to organizations sectors. The company has 2 registered business activity segments, reflecting its diverse operational portfolio.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
********* Financial and insurance Service ********* Other financial activities *********
********* Support service to Organizations ********* Travel agency and tour operators *********

Auditor Details of Paul Merchants Limited

Paul Merchants Limited is audited by Rajiv Goel & Associates (ICAI peer reviewed, certificate valid till 2027-03-31) for the financial year 2026, as reported in its BSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.

Name Financial year Audit opinion
Rajiv Goel & Associates (ICAI peer reviewed, certificate valid till 2027-03-31) FY 2026 Declaration of unmodified opinion

Board of Directors of Paul Merchants Limited

Paul Merchants Limited is currently managed by 10 directors, with 31 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Sarita Rani Bansal
Also directs: Paul Excursions Llp, Paul Merchants Limited, Paul Overseas Pvt Ltd and 4 more
Director 01 Apr 2015 11 Years 3 Months Current
Inder Sain Negi
Also directs: Paul Merchants Limited
Director 12 Nov 2020 5 Years 7 Months Current
Rajneesh Bansal
Also directs: Paul Innovations Llp, Paul Merchants Jewels And Metals Llp, Ssbro Infra Surge Llp and 5 more
Managing Director 27 Feb 1999 27 Years 4 Months Current
Ritesh Vaid
Also directs: Paul Merchants Limited
Whole-Time Director 10 Feb 2022 4 Years 4 Months Current
Anoop Kumar Sharma
Also directs: Paul Merchants Limited
Director 13 Feb 2024 2 Years 4 Months Current
Sat Paul Bansal
Also directs: Paul Merchants Jewels And Metals Llp, Paul Landscape Realtors Llp, Paul Excursions Llp and 5 more
Director 08 Jun 2021 5 Years 1 Months Current
Showing 6 of 10 current directors. View all directors

Financials of Paul Merchants Limited FY 2026 filings available

Paul Merchants Limited reported revenue of ₹2,073.63 Cr (down 37.82% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹2,073.63 Cr ▼ 37.82%
Profit · FY 2026
₹268.74 Cr ▲ 320.99%
EBITDA · FY 2026
₹25.33 Cr ▲ 729.09%
Revenue₹ Cr · Consolidated02,5005,0007,500FY 2019: ₹4,917 Cr4,917FY 2019FY 2020: ₹5,401 Cr · +9.8% YoY5,401+9.8%FY 2020FY 2021: ₹3,035 Cr · -43.8% YoY3,035-43.8%FY 2021FY 2022: ₹5,365 Cr · +76.8% YoY5,365+76.8%FY 2022FY 2023: ₹7,011 Cr · +30.7% YoY7,011+30.7%FY 2023FY 2024: ₹6,667 Cr · -4.9% YoY6,667-4.9%FY 2024FY 2025: ₹3,335 Cr · -50% YoY3,335-50%FY 2025FY 2026: ₹2,074 Cr · -37.8% YoY2,074-37.8%FY 2026
Net Profit₹ Cr · Consolidated0100200300FY 2019: ₹22 Cr22.1FY 2019FY 2020: ₹26 Cr · +19.5% YoY26.4+19.5%FY 2020FY 2021: ₹33 Cr · +26.8% YoY33.4+26.8%FY 2021FY 2022: ₹40 Cr · +20.1% YoY40.2+20.1%FY 2022FY 2023: ₹44 Cr · +9.6% YoY44+9.6%FY 2023FY 2024: ₹55 Cr · +24.1% YoY54.6+24.1%FY 2024FY 2025: ₹64 Cr · +16.9% YoY63.8+16.9%FY 2025FY 2026: ₹269 Cr · +321% YoY269+321%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year05001,0001,500Q1'25: ₹1,063 Cr1,063Q1'25Q2'25: ₹1,038 Cr1,038Q2'25Q3'25: ₹809 Cr809Q3'25Q4'25: ₹582 Cr582Q4'25Q1'26: ₹493 Cr · -53.6% YoY493-53.6%Q1'26Q2'26: ₹593 Cr · -42.8% YoY593-42.8%Q2'26Q3'26: ₹505 Cr · -37.6% YoY505-37.6%Q3'26Q4'26: ₹482 Cr · -17.2% YoY482-17.2%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Revenue from Operations ₹2,073.63 Cr ₹3,334.68 Cr ₹6,666.58 Cr ₹7,010.9 Cr ₹5,365.03 Cr ₹3,035.08 Cr ₹5,401.12 Cr ₹4,916.94 Cr
Other Income ₹40.82 Cr ₹3.26 Cr ₹6.04 Cr ₹1.91 Cr ₹3.71 Cr ₹7.61 Cr ₹4.95 Cr ₹12.95 Cr
Total Income ₹2,114.45 Cr ₹3,337.93 Cr ₹6,672.61 Cr ₹7,012.81 Cr ₹5,368.74 Cr ₹3,042.69 Cr ₹5,406.08 Cr ₹4,929.89 Cr
Cost of Materials Consumed ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Purchases of Stock-in-Trade ₹2,006.4 Cr ₹3,251.16 Cr ₹6,357.59 Cr ₹6,769.13 Cr ₹5,180.18 Cr ₹2,915.84 Cr ₹5,272.61 Cr ₹4,827.53 Cr
Changes in Inventories ₹1.24 Cr ₹2.82 Cr -₹2.55 Cr -₹6.5 Cr ₹13.96 Lakh ₹2 Cr -₹3.35 Cr ₹22.02 Lakh
Employee Benefit Expense ₹37.34 Cr ₹26.89 Cr ₹57.36 Cr ₹43.01 Cr ₹30.69 Cr ₹23.18 Cr ₹25.7 Cr ₹25.37 Cr
Finance Costs ₹1.08 Cr ₹1.96 Cr ₹42.6 Cr ₹20.18 Cr ₹11.16 Cr ₹4.8 Cr ₹2.46 Cr ₹1.19 Cr
Depreciation & Amortisation ₹5.48 Cr ₹3.8 Cr ₹6.04 Cr ₹3.93 Cr ₹3.27 Cr ₹2.99 Cr ₹3.23 Cr ₹3.49 Cr
Other Expenses ₹44.14 Cr ₹61.08 Cr ₹138.46 Cr ₹123.35 Cr ₹88.72 Cr ₹49.64 Cr ₹68.08 Cr ₹48.13 Cr
Total Expenses ₹2,095.68 Cr ₹3,347.72 Cr ₹6,599.51 Cr ₹6,953.1 Cr ₹5,314.16 Cr ₹2,998.46 Cr ₹5,368.72 Cr ₹4,905.93 Cr
Profit Before Exceptional Items & Tax ₹18.77 Cr -₹9.79 Cr ₹73.11 Cr ₹59.71 Cr ₹54.58 Cr ₹44.22 Cr ₹37.36 Cr ₹23.96 Cr
Exceptional Items -₹5 Lakh -₹1.26 Cr -₹30.5 Lakh -₹8.54 Lakh -₹64.23 Lakh ₹0 -₹1.29 Cr ₹0
Profit Before Tax ₹18.72 Cr -₹11.05 Cr ₹72.8 Cr ₹59.62 Cr ₹53.94 Cr ₹44.22 Cr ₹36.06 Cr ₹23.96 Cr
Total Tax Expense ₹9.64 Cr ₹1.24 Cr ₹18.18 Cr ₹15.62 Cr ₹13.76 Cr ₹10.34 Cr ₹9.39 Cr ₹1.97 Cr
Net Profit ₹268.74 Cr ₹63.84 Cr ₹54.63 Cr ₹44.01 Cr ₹40.17 Cr ₹33.45 Cr ₹26.37 Cr ₹22.08 Cr
  attributable to Owners ₹268.74 Cr ₹63.84 Cr ₹54.63 Cr ₹44.01 Cr ₹40.17 Cr ₹33.45 Cr ₹26.37 Cr ₹22.08 Cr
  attributable to NCI -₹3,000 ₹0 ₹0 ₹0 - ₹0 - ₹0
Other Comprehensive Income ₹2.44 Lakh -₹15.64 Lakh -₹18.99 Lakh -₹13.72 Lakh -₹4.66 Lakh ₹8.04 Lakh -₹22.92 Lakh ₹51,500
Total Comprehensive Income ₹268.77 Cr ₹63.68 Cr ₹54.44 Cr ₹43.87 Cr ₹40.12 Cr ₹33.53 Cr ₹26.14 Cr ₹22.08 Cr
EBITDA (computed) ₹25.33 Cr -₹4.03 Cr ₹121.76 Cr ₹83.82 Cr ₹69 Cr ₹52.02 Cr ₹43.04 Cr ₹28.64 Cr
Basic EPS ₹29.36 ₹-39.84 ₹177.13 ₹428.13 ₹390.77 ₹325.38 ₹256.56 ₹214.78
Diluted EPS ₹29.36 ₹-39.84 ₹177.13 ₹428.13 ₹390.77 ₹325.38 ₹256.56 ₹214.78
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Total Assets ₹940.06 Cr ₹1,590.74 Cr ₹1,156.33 Cr ₹889.86 Cr ₹649.09 Cr ₹535.21 Cr ₹455.46 Cr ₹405.41 Cr
Non-current Assets ₹372.11 Cr ₹65.44 Cr ₹75.53 Cr ₹70.62 Cr ₹67.05 Cr ₹66.13 Cr ₹67.55 Cr ₹98.36 Cr
Current Assets ₹567.95 Cr ₹87.47 Cr ₹1,080.8 Cr ₹819.25 Cr ₹582.04 Cr ₹469.08 Cr ₹387.91 Cr ₹307.05 Cr
Property, Plant & Equipment ₹65.58 Cr ₹61.67 Cr ₹71.31 Cr ₹66.13 Cr ₹62.92 Cr ₹62.67 Cr ₹63.97 Cr ₹75.68 Cr
Inventories ₹23.09 Cr ₹12.1 Cr ₹14.93 Cr ₹12.37 Cr ₹5.87 Cr ₹6.01 Cr ₹8.02 Cr ₹4.67 Cr
Trade Receivables ₹5.28 Cr ₹5.91 Cr ₹5.52 Cr ₹4.93 Cr ₹2.71 Cr ₹2.2 Cr ₹4.43 Cr ₹3.71 Cr
Cash & Equivalents ₹29.5 Cr ₹18.65 Cr ₹25.07 Cr ₹22.23 Cr ₹20.61 Cr ₹11.38 Cr ₹15.83 Cr ₹11.85 Cr
Equity (Net Worth) ₹898.09 Cr ₹628.88 Cr ₹565.2 Cr ₹510.77 Cr ₹466.89 Cr ₹426.77 Cr ₹393.24 Cr ₹367.4 Cr
Equity Share Capital ₹3.08 Cr ₹3.08 Cr ₹3.08 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr
Borrowings (Non-current) ₹2.44 Cr ₹7.97 Cr ₹147.13 Cr ₹98.76 Cr ₹16.87 Lakh ₹0 ₹0 ₹0
Borrowings (Current) ₹7.78 Cr ₹15.42 Cr ₹345.65 Cr ₹208.44 Cr ₹131.38 Cr ₹79.43 Cr ₹33.05 Cr ₹16.84 Cr
Total Debt (computed) ₹10.22 Cr ₹23.38 Cr ₹492.78 Cr ₹307.2 Cr ₹131.54 Cr ₹79.43 Cr ₹33.05 Cr ₹16.84 Cr
Current Liabilities ₹36.1 Cr ₹49.57 Cr ₹440.08 Cr ₹277.23 Cr ₹179.64 Cr ₹106.38 Cr ₹60.3 Cr ₹36.37 Cr
Total Liabilities ₹41.97 Cr ₹961.86 Cr ₹591.13 Cr ₹379.1 Cr ₹182.2 Cr ₹108.44 Cr ₹62.22 Cr ₹38.01 Cr
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹412 Cr ₹447.85 Cr -₹135.23 Cr -₹154.18 Cr -₹37.69 Cr
Investing Cash Flow -₹387.35 Cr ₹17.08 Cr -₹4.91 Cr ₹45.59 Lakh ₹5.96 Cr
Financing Cash Flow -₹13.8 Cr -₹471.35 Cr ₹142.97 Cr ₹155.35 Cr ₹40.96 Cr
Capital Expenditure ₹11.57 Cr ₹4.11 Cr ₹11.31 Cr ₹7.71 Cr ₹4.53 Cr
Free Cash Flow (computed) ₹400.43 Cr ₹443.74 Cr -₹146.54 Cr -₹161.9 Cr -₹42.22 Cr
Dividends Paid ₹0 ₹0 ₹0 ₹0 ₹0
Net Change in Cash ₹10.85 Cr -₹6.42 Cr ₹2.83 Cr ₹1.62 Cr ₹9.23 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25
Revenue from Operations ₹482.12 Cr ₹504.79 Cr ₹593.41 Cr ₹493.3 Cr ₹582.46 Cr ₹808.8 Cr ₹1,037.8 Cr ₹1,063.15 Cr
Other Income ₹8.58 Cr ₹15.5 Cr ₹12.91 Cr ₹3.83 Cr ₹62.74 Lakh ₹1.06 Cr ₹1.7 Cr ₹96.98 Lakh
Total Income ₹490.7 Cr ₹520.3 Cr ₹606.32 Cr ₹497.13 Cr ₹583.09 Cr ₹809.86 Cr ₹1,039.5 Cr ₹1,064.12 Cr
Cost of Materials Consumed ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Purchases of Stock-in-Trade ₹460.12 Cr ₹486.34 Cr ₹575.65 Cr ₹484.29 Cr ₹559.89 Cr ₹732.28 Cr ₹965.27 Cr ₹993.72 Cr
Changes in Inventories ₹1.37 Cr ₹1.62 Cr ₹2.47 Cr -₹4.23 Cr ₹7.85 Cr -₹1.16 Cr -₹1.29 Cr -₹2.57 Cr
Employee Benefit Expense ₹10.46 Cr ₹9.61 Cr ₹9.85 Cr ₹7.43 Cr ₹6.36 Cr ₹16.66 Cr ₹16.62 Cr ₹16.04 Cr
Finance Costs ₹16.08 Lakh ₹15.53 Lakh ₹23.63 Lakh ₹52.55 Lakh ₹52.92 Lakh ₹14.99 Cr ₹14.39 Cr ₹12.76 Cr
Depreciation & Amortisation ₹1.61 Cr ₹1.61 Cr ₹1.42 Cr ₹82.82 Lakh ₹1.07 Cr ₹1.65 Cr ₹1.67 Cr ₹1.55 Cr
Other Expenses ₹10.59 Cr ₹10.39 Cr ₹13.18 Cr ₹9.98 Cr ₹11.33 Cr ₹20.75 Cr ₹22.21 Cr ₹24.44 Cr
Total Expenses ₹484.32 Cr ₹509.73 Cr ₹602.81 Cr ₹498.82 Cr ₹587.03 Cr ₹785.17 Cr ₹1,018.87 Cr ₹1,045.94 Cr
Profit Before Exceptional Items & Tax ₹6.38 Cr ₹10.57 Cr ₹3.51 Cr -₹1.69 Cr -₹3.94 Cr ₹24.68 Cr ₹20.63 Cr ₹18.18 Cr
Exceptional Items ₹0 -₹5 Lakh ₹0 ₹0 ₹0 -₹1.26 Cr ₹0 ₹0
Profit Before Tax ₹6.38 Cr ₹10.52 Cr ₹3.51 Cr -₹1.69 Cr -₹3.94 Cr ₹23.43 Cr ₹20.63 Cr ₹18.18 Cr
Total Tax Expense ₹1.66 Cr ₹2.54 Cr ₹4.59 Cr ₹83.78 Lakh -₹19.24 Lakh ₹5.7 Cr ₹4.53 Cr ₹4.86 Cr
Net Profit ₹2.29 Cr -₹14.4 Cr -₹6.61 Cr ₹287.46 Cr ₹16.69 Cr ₹17.72 Cr ₹16.1 Cr ₹13.32 Cr
  attributable to Owners ₹2.29 Cr -₹14.4 Cr -₹6.61 Cr ₹287.46 Cr ₹16.69 Cr ₹17.72 Cr ₹16.1 Cr ₹13.32 Cr
  attributable to NCI -₹3,000 ₹0 ₹0 ₹0 ₹0 - ₹0 ₹0
Other Comprehensive Income ₹6.03 Lakh ₹2.18 Lakh ₹5.35 Lakh -₹11.12 Lakh ₹4.45 Lakh -₹85,000 ₹4.43 Lakh -₹23.69 Lakh
Total Comprehensive Income ₹2.35 Cr -₹14.38 Cr -₹6.56 Cr ₹287.35 Cr ₹16.74 Cr ₹17.72 Cr ₹16.15 Cr ₹13.08 Cr
EBITDA (computed) ₹8.16 Cr ₹12.34 Cr ₹5.17 Cr -₹33.81 Lakh -₹2.35 Cr ₹41.33 Cr ₹36.69 Cr ₹32.49 Cr
Basic EPS ₹15.21 ₹25.85 ₹-3.50 ₹-8.20 ₹-12.16 ₹57.47 ₹52.21 ₹43.18
Diluted EPS ₹15.21 ₹25.85 ₹-3.50 ₹-8.20 ₹-12.16 ₹57.47 ₹52.21 ₹43.18
Latest 8 quarters shown.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Forex ₹470.63 Cr -₹1.55 Cr ₹30.98 Cr ₹13.78 Cr
Travel ₹1.26 Cr -₹3.72 Lakh ₹3.63 Cr ₹95.34 Lakh
Gold loan (Discontinued) ₹0 ₹55,000 ₹0 ₹0
Other Loan (other than Discontinued) ₹9.77 Cr ₹2.01 Cr ₹616.31 Cr ₹7.91 Cr
Others ₹45.95 Lakh -₹27.78 Lakh ₹0 ₹0
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Forex ₹2,050.1 Cr -₹5.42 Cr - -
Travel ₹5.42 Cr -₹13.45 Lakh - -
Gold loan (Discontinued) ₹48.66 Cr ₹37.06 Cr - -
Other Loan (other than Discontinued) ₹17.05 Cr -₹5.66 Cr - -
Others ₹1.05 Cr -₹2.33 Cr - -
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Revenue from Operations ₹2,055.91 Cr ₹3,328.58 Cr ₹6,501.84 Cr ₹6,899.76 Cr ₹5,280.73 Cr ₹2,961.5 Cr ₹5,357.68 Cr ₹4,898.96 Cr
Other Income ₹31.03 Cr ₹18.67 Cr ₹28.2 Cr ₹21.94 Cr ₹19.5 Cr ₹22.12 Cr ₹13.49 Cr ₹12.45 Cr
Total Income ₹2,086.94 Cr ₹3,347.25 Cr ₹6,530.04 Cr ₹6,921.69 Cr ₹5,300.24 Cr ₹2,983.62 Cr ₹5,371.17 Cr ₹4,911.41 Cr
Cost of Materials Consumed ₹2,006.45 Cr ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Purchases of Stock-in-Trade ₹0 ₹3,249.55 Cr ₹6,357.59 Cr ₹6,762.88 Cr ₹5,180.18 Cr ₹2,905.84 Cr ₹5,271.54 Cr ₹4,827.53 Cr
Changes in Inventories ₹1.62 Cr -₹38.46 Lakh -₹2.55 Cr -₹81.19 Lakh ₹13.96 Lakh ₹2 Cr -₹2.28 Cr ₹21.92 Lakh
Employee Benefit Expense ₹22.75 Cr ₹24.34 Cr ₹23.39 Cr ₹19.09 Cr ₹14.86 Cr ₹14.25 Cr ₹18.74 Cr ₹21.4 Cr
Finance Costs ₹54.45 Lakh ₹1.23 Cr ₹1.71 Cr ₹1.04 Cr ₹43.94 Lakh ₹24.1 Lakh ₹49.36 Lakh ₹46.22 Lakh
Depreciation & Amortisation ₹3.76 Cr ₹3.21 Cr ₹2.72 Cr ₹1.72 Cr ₹1.85 Cr ₹2.23 Cr ₹2.82 Cr ₹3.26 Cr
Other Expenses ₹34.2 Cr ₹59.81 Cr ₹112.04 Cr ₹102.81 Cr ₹74.75 Cr ₹40.03 Cr ₹62.01 Cr ₹44.25 Cr
Total Expenses ₹2,069.33 Cr ₹3,337.75 Cr ₹6,494.9 Cr ₹6,886.73 Cr ₹5,272.22 Cr ₹2,964.6 Cr ₹5,353.32 Cr ₹4,897.12 Cr
Profit Before Exceptional Items & Tax ₹17.61 Cr ₹9.5 Cr ₹35.14 Cr ₹34.96 Cr ₹28.02 Cr ₹19.03 Cr ₹17.85 Cr ₹14.29 Cr
Exceptional Items -₹5 Lakh -₹1.26 Cr ₹0 ₹0 -₹64.23 Lakh -₹3.05 Cr -₹1.29 Cr ₹0
Profit Before Tax ₹17.56 Cr ₹8.24 Cr ₹35.14 Cr ₹34.96 Cr ₹27.38 Cr ₹15.98 Cr ₹16.56 Cr ₹14.29 Cr
Total Tax Expense ₹4.37 Cr ₹2.33 Cr ₹9.01 Cr ₹8.97 Cr ₹6.99 Cr ₹3.3 Cr ₹4.66 Cr -₹76.37 Lakh
Net Profit ₹13.19 Cr ₹5.91 Cr ₹26.12 Cr ₹25.98 Cr ₹20.39 Cr ₹12.68 Cr ₹11.9 Cr ₹15.05 Cr
Other Comprehensive Income ₹7.91 Lakh -₹21.96 Lakh -₹20.86 Lakh -₹17.76 Lakh -₹3.64 Lakh ₹6.37 Lakh -₹18.32 Lakh ₹7.32 Lakh
Total Comprehensive Income ₹13.27 Cr ₹5.69 Cr ₹25.92 Cr ₹25.81 Cr ₹20.35 Cr ₹12.74 Cr ₹11.71 Cr ₹15.13 Cr
EBITDA (computed) ₹21.92 Cr ₹13.94 Cr ₹39.57 Cr ₹37.72 Cr ₹30.31 Cr ₹21.5 Cr ₹21.16 Cr ₹18.01 Cr
Basic EPS ₹42.77 ₹19.16 ₹84.71 ₹252.76 ₹198.35 ₹123.32 ₹115.71 ₹146.41
Diluted EPS ₹42.77 ₹19.16 ₹84.71 ₹252.76 ₹198.35 ₹123.32 ₹115.71 ₹146.41
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Total Assets ₹527.27 Cr ₹532.1 Cr ₹543.04 Cr ₹526.15 Cr ₹471.31 Cr ₹427.48 Cr ₹414.24 Cr ₹396.73 Cr
Non-current Assets ₹398.58 Cr ₹304.66 Cr ₹279.02 Cr ₹225.71 Cr ₹226.84 Cr ₹227.92 Cr ₹233.89 Cr ₹247.7 Cr
Current Assets ₹128.7 Cr ₹227.44 Cr ₹264.02 Cr ₹300.44 Cr ₹244.47 Cr ₹199.55 Cr ₹180.35 Cr ₹149.03 Cr
Property, Plant & Equipment ₹61.14 Cr ₹60.74 Cr ₹60.37 Cr ₹56.69 Cr ₹57.8 Cr ₹59.28 Cr ₹62.1 Cr ₹74.65 Cr
Inventories ₹6.93 Cr ₹8.55 Cr ₹8.17 Cr ₹5.61 Cr ₹4.8 Cr ₹4.94 Cr ₹6.95 Cr ₹4.67 Cr
Trade Receivables ₹5 Cr ₹5.16 Cr ₹5.1 Cr ₹4.93 Cr ₹2.71 Cr ₹2.2 Cr ₹4.43 Cr ₹3.71 Cr
Cash & Equivalents ₹12.37 Cr ₹17.34 Cr ₹9.17 Cr ₹14.12 Cr ₹11.09 Cr ₹6.5 Cr ₹3.37 Cr ₹6.41 Cr
Equity (Net Worth) ₹495.22 Cr ₹481.95 Cr ₹476.26 Cr ₹450.35 Cr ₹424.54 Cr ₹404.19 Cr ₹391.44 Cr ₹379.94 Cr
Equity Share Capital ₹3.08 Cr ₹3.08 Cr ₹3.08 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr ₹1.03 Cr
Borrowings (Non-current) ₹1.69 Lakh ₹87.78 Lakh ₹2.3 Cr ₹0 ₹0 ₹0 ₹0 ₹0
Borrowings (Current) ₹6.74 Cr ₹15.42 Cr ₹11.13 Cr ₹19.51 Cr ₹9.51 Cr ₹5.08 Cr ₹75.89 Lakh ₹13.02 Lakh
Total Debt (computed) ₹6.76 Cr ₹16.29 Cr ₹13.42 Cr ₹19.51 Cr ₹9.51 Cr ₹5.08 Cr ₹75.89 Lakh ₹13.02 Lakh
Current Liabilities ₹29.05 Cr ₹46.51 Cr ₹61.61 Cr ₹73.37 Cr ₹44.89 Cr ₹21.56 Cr ₹21.17 Cr ₹15.31 Cr
Total Liabilities ₹32.05 Cr ₹50.15 Cr ₹66.78 Cr ₹75.8 Cr ₹46.77 Cr ₹23.29 Cr ₹22.8 Cr ₹16.79 Cr
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow -₹2.69 Cr -₹27.19 Cr -₹14.32 Cr ₹19.55 Cr ₹22.28 Cr
Investing Cash Flow ₹7.8 Cr ₹33.71 Cr ₹17.19 Cr -₹25.48 Cr -₹21.69 Cr
Financing Cash Flow -₹10.08 Cr ₹1.64 Cr -₹7.8 Cr ₹8.96 Cr ₹4 Cr
Capital Expenditure ₹5.67 Cr ₹4 Cr ₹6.38 Cr ₹57.12 Lakh ₹96.59 Lakh
Free Cash Flow (computed) -₹8.35 Cr -₹31.19 Cr -₹20.7 Cr ₹18.98 Cr ₹21.31 Cr
Dividends Paid ₹0 ₹0 ₹0 ₹0 ₹0
Net Change in Cash -₹4.97 Cr ₹8.16 Cr -₹4.94 Cr ₹3.03 Cr ₹4.58 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25
Revenue from Operations ₹472.02 Cr ₹499.61 Cr ₹591.22 Cr ₹493.07 Cr ₹578.09 Cr ₹749.25 Cr ₹985.41 Cr ₹1,015.83 Cr
Other Income ₹4.28 Cr ₹3.77 Cr ₹18.35 Cr ₹4.63 Cr ₹4.44 Cr ₹4.51 Cr ₹5 Cr ₹4.72 Cr
Total Income ₹476.3 Cr ₹503.38 Cr ₹609.57 Cr ₹497.69 Cr ₹582.53 Cr ₹753.76 Cr ₹990.42 Cr ₹1,020.54 Cr
Cost of Materials Consumed ₹460.17 Cr ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Purchases of Stock-in-Trade ₹0 ₹486.34 Cr ₹578.84 Cr ₹481.09 Cr ₹559.69 Cr ₹731.9 Cr ₹964.36 Cr ₹993.6 Cr
Changes in Inventories ₹1.75 Cr ₹1.62 Cr -₹72.23 Lakh -₹1.03 Cr ₹4.37 Cr -₹1.37 Cr -₹95.91 Lakh -₹2.43 Cr
Employee Benefit Expense ₹5.57 Cr ₹5.54 Cr ₹5.83 Cr ₹5.8 Cr ₹5.68 Cr ₹6.06 Cr ₹6.38 Cr ₹6.23 Cr
Finance Costs ₹8.28 Lakh ₹7.5 Lakh ₹9.79 Lakh ₹28.88 Lakh ₹25.39 Lakh ₹30.2 Lakh ₹29.96 Lakh ₹37.42 Lakh
Depreciation & Amortisation ₹1.04 Cr ₹1.04 Cr ₹94.96 Lakh ₹73.41 Lakh ₹87.89 Lakh ₹81.74 Lakh ₹78.07 Lakh ₹73.07 Lakh
Other Expenses ₹7.23 Cr ₹8.26 Cr ₹9.72 Cr ₹9 Cr ₹10.98 Cr ₹14.26 Cr ₹15.89 Cr ₹18.68 Cr
Total Expenses ₹475.85 Cr ₹502.88 Cr ₹594.72 Cr ₹495.88 Cr ₹581.85 Cr ₹751.97 Cr ₹986.74 Cr ₹1,017.19 Cr
Profit Before Exceptional Items & Tax ₹44.83 Lakh ₹49.93 Lakh ₹14.85 Cr ₹1.81 Cr ₹67.97 Lakh ₹1.79 Cr ₹3.67 Cr ₹3.36 Cr
Exceptional Items ₹0 -₹5 Lakh ₹0 ₹0 ₹0 -₹1.26 Cr ₹0 ₹0
Profit Before Tax ₹44.83 Lakh ₹44.93 Lakh ₹14.85 Cr ₹1.81 Cr ₹67.97 Lakh ₹53.3 Lakh ₹3.67 Cr ₹3.36 Cr
Total Tax Expense ₹15.28 Lakh ₹41.01 Lakh ₹3.43 Cr ₹37.43 Lakh ₹15.56 Lakh ₹36.92 Lakh ₹95.41 Lakh ₹85.18 Lakh
Net Profit ₹29.55 Lakh ₹3.92 Lakh ₹11.42 Cr ₹1.44 Cr ₹52.41 Lakh ₹16.38 Lakh ₹2.72 Cr ₹2.5 Cr
Other Comprehensive Income ₹4.11 Lakh ₹4.2 Lakh ₹5.08 Lakh -₹5.49 Lakh -₹4.99 Lakh -₹2.77 Lakh ₹5.05 Lakh -₹19.24 Lakh
Total Comprehensive Income ₹33.66 Lakh ₹8.12 Lakh ₹11.47 Cr ₹1.38 Cr ₹47.42 Lakh ₹13.61 Lakh ₹2.77 Cr ₹2.31 Cr
EBITDA (computed) ₹1.57 Cr ₹1.62 Cr ₹15.9 Cr ₹2.83 Cr ₹1.81 Cr ₹2.91 Cr ₹4.75 Cr ₹4.46 Cr
Basic EPS ₹0.96 ₹0.13 ₹37.03 ₹4.66 ₹1.70 ₹0.53 ₹8.81 ₹8.12
Diluted EPS ₹0.96 ₹0.13 ₹37.03 ₹4.66 ₹1.70 ₹0.53 ₹8.81 ₹8.12
Latest 8 quarters shown.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Forex ₹470.69 Cr -₹1.55 Cr ₹30.98 Cr ₹13.78 Cr
Travel ₹1.26 Cr -₹3.51 Lakh ₹3.63 Cr ₹95.34 Lakh
Money ₹7.47 Lakh ₹1.89 Lakh ₹0 ₹0
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Forex ₹2,050.16 Cr -₹5.42 Cr - -
Travel ₹5.43 Cr -₹12.84 Lakh - -
Money ₹32.24 Lakh ₹9.5 Lakh - -
Want more history and ratios?
You're viewing the latest exchange-filed financials for Paul Merchants Limited. The full report adds 10+ years of line-item history, 20+ ratios, peer benchmarks and a downloadable PDF.
10+ years of history 20+ ratios & benchmarks Downloadable PDF

Shareholding Pattern of Paul Merchants Limited

As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, promoters hold 74.65%, retail and other public shareholders hold 25.35% of Paul Merchants Limited. The company had 4,255 shareholders on record.

Promoters: 74.65%Retail & Others: 25.35%
Mar 2026
QUARTER
74.65% Promoters
25.35% Retail & Others
Promoter holding - history
Now 74.65% · Mar 2026High 74.65% · Jun 2023Low 74.65% · Jun 2023
73%73.8%74.5%75.3%76%Jun 2023Dec 2023Jun 2024Dec 2024Jun 2025Dec 2025Jun 2023: 74.65%Sep 2023: 74.65%Dec 2023: 74.65%Mar 2024: 74.65%Jun 2024: 74.65%Sep 2024: 74.65%Dec 2024: 74.65%Mar 2025: 74.65%Jun 2025: 74.65%Sep 2025: 74.65%Dec 2025: 74.65%Mar 2026: 74.65%74.65%74.65%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters74.65%74.65%74.65%74.65%74.65%74.65%
Public25.35%25.35%25.35%25.35%25.35%25.35%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024
Promoters74.65%74.65%74.65%
Public25.35%25.35%25.35%
Promoter change (YoY, %pts)+0.00+0.00-

Group Structure of Paul Merchants Limited

Paul Merchants Limited has 2 subsidiary companies. This group structure data is as of FY 2023. The corporate group structure reflects Paul Merchants Limited's business expansion strategy and organizational complexity.

2
Subsidiary companies
Key Subsidiaries
Company Name CIN Shares Held
Paul Merchants Finance Private Limited U65921CH2010PTC032462 -
Pml Realtors Private Limited U70109CH2017PTC041807 -

Showing major subsidiaries. Total: 2.

Charges & Borrowings of Paul Merchants Limited

Open charges
₹49.17 Cr
Satisfied charges
₹1,338.2 Cr
Breakdown by lending institutions
Others₹35.84 Cr
Hdfc Bank Limited₹13.33 Cr
Latest charge details
DateLenderAmountStatus
29 Aug 2024 Others ₹33.8 Cr Open
21 Nov 2023 Hdfc Bank Limited ₹1.4 Cr Open
29 Aug 2023 Others ₹14 Lakh Open
12 Jun 2023 Hdfc Bank Limited ₹1.93 Cr Open
24 May 2023 Others ₹90 Lakh Open

Total charge records: 64 View all charges

Employees and EPFO Compliance at Paul Merchants Limited

Paul Merchants Limited has a workforce of 389 employees as of Mar 23, 2024.

Employee count
389
Active EPFO establishments
1
Employee growth
8.36%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Paul Merchants Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Paul Merchants Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Paul Merchants Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Paul Merchants Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Paul Merchants Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Paul Merchants Limited

MSME Payment Delays by Paul Merchants Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Paul Merchants Limited

Subsidiaries & Group Companies of Paul Merchants Limited

See the full corporate group - holding company, subsidiaries, associates and joint ventures of Paul Merchants Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Paul Merchants Limited

MCA Filings & Documents of Paul Merchants Limited

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Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Paul Merchants Limited

Charges
26 Nov 2025
A charge registered on 19 Jul 2024 via Charge ID 100957864 with Others was fully satisfied on 26 Nov 2025.
Charges
26 Nov 2025
A charge registered on 21 Feb 2023 via Charge ID 100684228 with Others was fully satisfied on 26 Nov 2025.
Charges
19 Nov 2025
A charge registered on 05 Aug 2024 via Charge ID 100966129 with Others was fully satisfied on 19 Nov 2025.
Charges
20 Sep 2025
A charge registered on 19 Jan 2023 via Charge ID 100676977 with Idbi Bank Limited was fully satisfied on 20 Sep 2025.
Activity
19 Sep 2025
Paul Merchants Limited last Annual general meeting of members was held on 19 Sep 2025 as per latest MCA records.
Charges
10 Jul 2025
A charge registered on 20 Jan 2025 via Charge ID 101045607 with State Bank Of India was fully satisfied on 10 Jul 2025.

Recent News on Paul Merchants Limited

Frequently Asked Questions about Paul Merchants Limited

Paul Merchants Limited is an active public limited company in the financial services sector based in New Delhi, Delhi, India. It was incorporated on 13 July 1984 (42+ years old) and is registered under CIN L74900DL1984PLC018679. Listed on BSE: 539113. The company has 389 employees.

Paul Merchants Limited reported revenue of ₹6,921.69 Cr for FY 2023 (up 30.59% YoY).

The current directors of Paul Merchants Limited are:

The primary industry of Paul Merchants Limited is financial services. The company specifically operates in forex services. The company is currently active in this sector.

Yes. Paul Merchants Limited is listed on BSE with code 539113.

Paul Merchants Limited can be reached at the registered office: Dsm 335 336 337 3Rd Floor Dlf Tower 15 Shivaji Marg Najafgarh Road, New Delhi, Delhi, India – 110015, or through the website paulmerchants.net.

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