About Phonepe Limited
Data last updated:
Phonepe Limited is a public limited company based in Bangalore, Karnataka, India, a subsidiary of Fit Holdings Sarl. It operates in the online payment gateways segment of the financial services sector. It was incorporated on 18 December 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U67190KA2012PLC176031. Its GSTIN is 29AACCF1132H1ZY (Karnataka). The company holds 22 GST registrations, of which 21 are active.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹50.66 Cr. It was formerly known as Fx Mart Private Limited. It is led by directors including Rahul Chari Vardha (Whole-Time Director) and Manish Mahendra Sabharwal.
Its last annual general meeting (AGM) was held on 21 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2026, the company reported a revenue of ₹8,387.93 Cr, a growth of 10% compared to the previous year. For the same year it recorded a net loss of ₹2,791.59 Cr (net margin -33.3%) and EBITDA of -₹1,245.43 Cr (EBITDA margin -14.8%). Revenue has grown at a compounded annual rate (CAGR) of 40% over three years and 63% over five years.
The company has about 7,645 employees on its provident fund (EPFO) records. Its group structure includes 9 subsidiaries.
The company is associated with 3 brands: WealthDesk, PhonePe and Share.Market. As per MCA filings, the company has satisfied charges of ₹51.63 Cr on record. Court records list 117 cases involving the company, including 76 filed by the company and 19 filed against it; 48 cases are pending. The company has 25 deals on record (13 rights issues, 7 secondary share transfers, 5 funding rounds), with disclosed funding of ₹4,117.84 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 One Mobikwik Systems Limited with revenue of ₹1,192.49 Cr. The company has 55 MSME Form 1 returns on record between 2018 and 2024, listing 5,525 overdue payments to 388 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 phonepe.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Apps
- Registered AddressOffice – 2 Floor 5 Wing A Block A Salarpuria Softzone, Bellandur Village Varthur Hobli Outer Ring Road, Bangalore, Karnataka, India – 560103
- IndustryFinancial Services, Online Payment Gateways
- 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
- One PDF report, delivered after checkout
Business Activity of Phonepe Limited
The main business activity of Phonepe is financial and insurance service. In detail, this covers 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
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 Phonepe Limited FY 2025 filings available
Phonepe Limited reported revenue of ₹8,387.93 Cr (up 10% YoY) for FY 2026.
Compounded Annual Growth Rate (CAGR) of Phonepe Limited
Revenue has grown at a compounded annual rate (CAGR) of 63% over five years, including 10% growth 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 Phonepe Limited
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| 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 | -₹1,245.43 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹2,791.59 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 Phonepe Limited
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -14.8% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -33.3% | •••• | •••• | •••• | •••• |
| 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 Phonepe are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Phonepe Limited
Phonepe 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 |
|---|---|---|---|---|---|---|
| Phonepe Limited this company | ₹8,387.93 Cr (FY 2026) | •••• | •••• | 10.0% | •••• | Bangalore, Karnataka, India |
| One Mobikwik Systems Limited | ₹1,192.49 Cr (FY 2025) | •••• | •••• | 34.0% | •••• | Gurugram, Haryana, India |
| Paypal Payments Private Limited | ₹923.45 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Mumbai, Maharashtra, India |
| Financial Software and Systems Private Limited | ₹894.66 Cr (FY 2025) | •••• | •••• | -9.0% | •••• | Chennai, Tamil Nadu, India |
| Truehost IT Services Private Limited | ₹819.66 Cr (FY 2025) | •••• | •••• | 2.0% | •••• | Thane, Maharashtra, India |
| Worldline Epayments India Private Limited | ₹726.43 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Mumbai, Maharashtra, India |
| Avenues (India) Private Limited | ₹686.06 Cr (FY 2021) | •••• | •••• | 6.0% | •••• | Gandhinagar, Gujarat, India |
| My Mobile Payments Limited | ₹680.09 Cr (FY 2017) | •••• | •••• | -31.0% | •••• | Mumbai, Maharashtra, India |
| India1 Payments Limited | ₹670.17 Cr (FY 2025) | •••• | •••• | 4.0% | •••• | Bangalore, Karnataka, India |
| My Pay Store Private Limited | ₹658.92 Cr (FY 2025) | •••• | •••• | 125.0% | •••• | Gondal, Gujarat, India |
| O2pay India Private Limited | ₹632.53 Cr (FY 2025) | •••• | •••• | -18.0% | •••• | Navi Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Phonepe 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 Phonepe Limited
Phonepe Limited is audited by S. R. Batliboi & Associates LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S. R. Batliboi & Associates LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors and KMP of Phonepe Limited
Phonepe Limited currently reports 8 directors and 2 key managerial personnel. 22 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manish Mahendra Sabharwal Also directs: MKS Management Consultancy Services LLP, Teamlease Services Limited, Lupin Ventures Private Limited and 2 more | Director | 21 Nov 2024 | 1 Years 10 Months | Current |
| Leigh Douglas Hopkins Also directs: 63Ideas Infolabs Private Limited | Nominee Director | 06 Jan 2023 | 3 Years 9 Months | Current |
| John David Rainey Jr | Nominee Director | 24 Jan 2024 | 2 Years 8 Months | Current |
| Adarsh Nahata | Cfo | 18 Sep 2024 | 2 Years 0 Months | Current |
| Zarin Bomi Daruwala | Director | 23 May 2025 | 1 Years 4 Months | Current |
| Rohit Bhagat Also directs: Meesho Limited | Director | 06 Jan 2023 | 3 Years 9 Months | Current |
Ownership and Shareholding of Phonepe Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Phonepe Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Jan 2018 | Yes Bank Limited | ₹10 Lakh | Satisfied |
| 29 Jan 2018 | Yes Bank Limited | ₹4.87 Cr | Satisfied |
| 12 Dec 2017 | Yes Bank Limited | ₹2 Cr | Satisfied |
| 23 Jun 2016 | Yes Bank Limited | ₹44.66 Cr | Satisfied |
Total charge records: 4 View all charges
Deals & Funding of Phonepe Limited
Phonepe Limited has 25 deals on record (13 rights issues, 7 secondary share transfers, 5 funding rounds), with disclosed funding of ₹4,117.84 Cr; the latest was in November 2023.
Deals on record (5 of 25)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2023 | Secondary share transfer | Undisclosed | Buyer: Three State Capital Seller: an individual |
| Feb 2023 | Funding round | ₹4,116.27 Cr | Investors: FIT Holdings SARL, General Atlantic, Ribbit Capital |
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: FIT Holdings SARL, Qatar Investment Authority, Microsoft Global Finance Unlimited Company, an individual Seller: Headstand Pte Limited |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: Quickroutes International Private Limited Seller: Flipkart Logistics Private Limited |
| Jul 2015 | Secondary share transfer | Undisclosed | Buyer: Headstand Pte Limited, Flipkart Logistics Private Limited Seller: 4 individuals |
Full deal history
All 25 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- 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 Phonepe Limited
Phonepe Limited has 117 court cases on record: 76 filed by Phonepe, 19 filed against it, 22 where it is another party. 48 cases are pending and 69 are disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 88 | 14 | 37 |
| District courts | 29 | 5 | 11 |
Cases on record (5 of 117)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Interim or miscellaneous application | Filed by the company against Mahindra and Mahindra Financial Services Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.Misc.) | Filed by the company against Mahindra and Mahindra Financial Services Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against Icruze Digital India Private Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against Icruze Wellness LLP | Pending |
| High Court of Delhi | Commercial suit | Filed by the company against Agf Finlease (India) Limited | Pending |
Full case history
All 117 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 Phonepe Limited
Phonepe Limited has 55 MSME Form 1 returns on record between 2018 and 2024, listing 5,525 overdue payments to 388 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 388)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Exotel Techcom Private Limited | •••• | •••• | •••• |
| Sattva Properties Management Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 55 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Phonepe Limited
Phonepe operates multiple associated brands including WealthDesk, PhonePe, and Share.Market. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| ETFs are invested in via an online and app-based platform. | wealthdesk.in | |
| Payment, financial, investment, and lending services are provided digitally. | phonepe.com | |
| Multi-asset trading and investment services are offered to individuals. | share.market |
Employees and EPFO Compliance at Phonepe Limited
Phonepe Limited has a workforce of 7,645 employees as of Mar 23, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Phonepe Limited
Phonepe has 9 subsidiary companies and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Phonepe Credit Services Private Limited | U63119KA2016PTC174869 | Locked |
| Phonepe Wealth Broking Private Limited | U65990KA2021PTC146954 | Locked |
| Phonepe Technology Services Private Limited | U65999KA2019PTC174321 | Locked |
| Phonepe Finance Private Limited | U65999KA2021PTC151118 | Locked |
| Phonepe Insurance Broking Services | U66000KA2020FTC132814 | Locked |
| Quantech Capital Investment Advisors Private Limited | U67190KA2018PTC175882 | Locked |
Showing major subsidiaries. Total: 9.
Name History of Phonepe Limited
Phonepe has undergone 2 name changes throughout its history. The company was previously known as Fx Mart Private Limited, and Phonepe Limited. The current legal name is Phonepe Limited.
| Company Name | Status |
|---|---|
| Phonepe Limited | Current |
| Fx Mart Private Limited | Previous |
CIN History of Phonepe Limited
Phonepe has 4 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U67190KA2012PLC176031, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67190KA2012PLC176031 | Current |
| U67190MH2012PTC337657 | Previous |
| U67190DL2012PTC303812 | Previous |
| U67190PB2012PTC036950 | Previous |
| U67190KA2012PTC176031 | Previous |
News related to Phonepe Limited
Recent Activity on Phonepe Limited
Phonepe Limited has 32 board changes on record since 2015: 10 appointments and 22 cessations. The latest: Zarin Bomi Daruwala ceased to be Additional Director on 04 Jun 2025.
32 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Phonepe Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Phonepe Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Phonepe Limited
Phonepe has 22 GST registrations: 21 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCF1132H1ZY | Karnataka | Active | 06 Jul 2017 |
| 29AACCF1132H2ZX | Karnataka | Active | 06 Jul 2017 |
| 03AACCF1132H1ZC | Punjab | Active | 01 Jul 2017 |
| 07AACCF1132H1Z4 | Delhi | Active | 14 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Phonepe Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Phonepe Limited
Phonepe is an active public limited company based in Bangalore, Karnataka, India. The company works in online payment gateways, within the financial services industry. It was incorporated on 18 December 2012 (14+ years old) and is registered under CIN U67190KA2012PLC176031.
Phonepe reported revenue of ₹8,387.93 Cr for FY 2026 (up 10% YoY).
Phonepe has 10 current directors and KMP:
- Rahul Chari Vardha - Whole-Time Director
- Manish Mahendra Sabharwal - Director
- Leigh Douglas Hopkins - Nominee Director
- John David Rainey Jr - Nominee Director
- Zarin Bomi Daruwala - Director
- Rohit Bhagat - Director
- Donna Catherine Morris - Nominee Director
- Tarun Bajaj - Director
- Adarsh Nahata - Cfo
- Sameer Nigam - Ceo
Phonepe reported a net loss of ₹2,791.59 Cr (net margin -33.3%) and EBITDA of -₹1,245.43 Cr (EBITDA margin -14.8%) for FY 2026, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Phonepe is 40% over three years and 63% over five years. In the latest year (FY 2026) revenue rose 10%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Phonepe is 29AACCF1132H1ZY, registered in Karnataka. The company has 22 GST registrations in all, of which 21 are active and 1 is cancelled or inactive. Other active GSTINs include 29AACCF1132H2ZX (Karnataka), 03AACCF1132H1ZC (Punjab), 07AACCF1132H1Z4 (Delhi).
The CIN (Corporate Identification Number) of Phonepe is U67190KA2012PLC176031. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Phonepe has 117 court cases on record: 76 filed by the company and 19 filed against it. 48 are pending. Most are in the high courts.
Phonepe was incorporated on 18 December 2012, making it 14+ years old. It is registered with the Registrar of Companies, Bangalore.
Phonepe has 25 deals on record (13 rights issues, 7 secondary share transfers, 5 funding rounds), with disclosed funding of ₹4,117.84 Cr; the latest was in November 2023.
The peers of Phonepe by revenue are One Mobikwik Systems Limited, Paypal Payments Private Limited, Financial Software and Systems Private Limited, Truehost IT Services Private Limited, Worldline Epayments India Private Limited and 5 more, all in the BFSI industry (Payment Solution Providers).
Zarin Bomi Daruwala ceased to be Additional Director on 04 Jun 2025. Zarin Bomi Daruwala was appointed as Director on 23 May 2025. Rohit Bhagat ceased to be Nominee Director on 15 May 2025. Phonepe has 32 board changes on record in total.