Fortune India 500 2025 edition
Rank#330- Total income
- ₹7,659 Cr
- Profit
- ₹-1,727 Cr
Phonepe Limited - financial services in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2026
₹8,387.93 Cr
▲ 10% YoY
Net loss · FY 2026
₹2,791.59 Cr
Net margin -33.3%
EBITDA · FY 2026
-₹1,245.43 Cr
EBITDA margin -14.8%
Authorised capital
₹100 Cr
Registered with MCA
Paid-up capital
₹50.66 Cr
Issued & subscribed
Satisfied charges
₹51.63 Cr
No open charges
Company age
14 yrs
Est. 2012
Employees · EPFO
7,645
Provident fund records
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.
Phonepe is ranked #330 on the Fortune India 500 (2025). Its director Sameer Nigam is #736 among India's richest people (2026). Its director Rahul Chari is #736 among India's richest people (2026).
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 115 cases involving the company, including 76 filed by the company and 39 filed against it; 46 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 4 peer companies in the BFSI industry (Payment Solution Providers), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 1 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.
Company details
CIN U67190KA2012PLC176031
Registration Number 176031
Incorporation Date 18 December 2012
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 21 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Fit Holdings Sarl
Compliance Status Active Compliant
Name history
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
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 |
Recognitions & Rankings of Phonepe
India's Richest People 2026 edition · 2 directors · Source: Hurun India
- #736 Sameer Nigam ₹4,300 Cr
- #736 Rahul Chari ₹4,300 Cr
Contact details
Phonepe Limited's registered office is in Bangalore, Karnataka. Its website is phonepe.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- 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
To see the full contact details of Phonepe Limited, buy the company report.
Comprehensive company report
Phonepe Limited - one report that includes everything
- 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
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Brands
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 |
Business activity
The main business activity of Phonepe 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 Phonepe Limited, buy the company report.
Financials of Phonepe Limited
FY 2025 filings availablePhonepe Limited reported revenue of ₹8,387.93 Cr (up 10% YoY) for FY 2026.
Revenue · FY 2026
₹8,387.93 Cr ▲ 10%
Net loss · FY 2026
₹2,791.59 Cr margin -33.3%
EBITDA · FY 2026
-₹1,245.43 Cr margin -14.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 10%
3 years · compounded
▲ 40%
5 years · compounded
▲ 63%
EBITDA CAGR growth
3 years · compounded
▲ 18%
5 years · compounded
▲ 5%
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
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
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| 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 | |||||
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Financial Ratios
| 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 | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Phonepe Limited, buy the company report.
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.
Current Directors and KMP
| 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 11 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 9 Months | Current |
| Adarsh Nahata | Cfo | 18 Sep 2024 | 2 Years 1 Months | Current |
| Zarin Bomi Daruwala | Director | 23 May 2025 | 1 Years 5 Months | Current |
| Rohit Bhagat Also directs: Meesho Limited | Director | 06 Jan 2023 | 3 Years 9 Months | Current |
Showing 6 of 10 current directors and KMP. View all directors and KMP
Peer comparison
Phonepe Limited is compared with the 4 companies closest to it by revenue in the BFSI industry (Payment Solution Providers), with 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 |
|---|---|---|---|---|---|---|
| Phonepe Limitedthis company | ₹8,387.93 Cr (FY 2026) | -₹2,791.59 Cr | -33.3% | 10.0% | 7,645 | 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 | |||
| Worldline Epayments India Private Limited | ₹726.43 Cr (FY 2025) | 5.0% | Mumbai, Maharashtra, India | |||
| India1 Payments Limited | ₹670.17 Cr (FY 2025) | 4.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Phonepe Limited, buy the company report.
Auditor
Phonepe Limited is audited by S. R. Batliboi & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. R. Batliboi & Associates LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Phonepe Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Phonepe Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹51.63 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Jan 2018 | 100199434 | Yes Bank Limited | ₹10 Lakh | Satisfied | |
| 29 Jan 2018 | 100199436 | Yes Bank Limited | ₹4.87 Cr | Satisfied | |
| 12 Dec 2017 | 100199437 | Yes Bank Limited | ₹2 Cr | Satisfied | |
| 23 Jun 2016 | 100069093 | Yes Bank Limited | ₹44.66 Cr | Satisfied |
To see the full charge records of Phonepe Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
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.
Total deals
25
Rights issues
13
Secondary share transfers
7
Funding rounds
5
Disclosed funding
₹4,117.84 Cr
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 |
To see the full deal history of Phonepe Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Phonepe Limited has 115 court cases on record: 76 filed by Phonepe, 39 filed against it. 46 cases are pending and 69 are disposed.
Total cases
115
Filed by the company
76
Filed against the company
39
Pending
46
Disposed
69
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 86 | 31 | 35 |
| District courts | 29 | 8 | 11 |
Cases on record (5 of 115)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Appeal | Filed against the company by Evolv Clothing Company Pvt Ltd | 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 |
| 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.O.S.) | Filed by the company against Icruze Wellness LLP | Pending |
To see the full case history of Phonepe 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
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 |
To see the full MSME payment records of Phonepe Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
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.
9
Subsidiary companies
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Phonepe Credit Services Private Limited | U63119KA2016PTC174869 | |
| Phonepe Wealth Broking Private Limited | U65990KA2021PTC146954 | |
| Phonepe Technology Services Private Limited | U65999KA2019PTC174321 | |
| Phonepe Finance Private Limited | U65999KA2021PTC151118 | |
| Phonepe Insurance Broking Services | U66000KA2020FTC132814 | |
| Quantech Capital Investment Advisors Private Limited | U67190KA2018PTC175882 |
To see the full group structure of Phonepe Limited, buy the company report.
Employees & EPFO
Phonepe Limited has a workforce of 7,645 employees on its EPFO records as of Mar 23, 2024, across 1 active EPFO establishment.
Employee count
7,645
Active EPFO establishments
1
Employee growth
101.72%
GST
Phonepe has 22 GST registrations: 21 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
22
Active
21
Cancelled / inactive
1
| 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 |
To see the full GST registrations and return filing status of Phonepe Limited, buy the company report.
Recent activity
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.
AGM
Phonepe Limited last Annual general meeting of members was held on 21 Aug 2025 as per latest MCA records.
Ceased
Zarin Bomi Daruwala ceased to be Additional Director.
Appointed
Zarin Bomi Daruwala was appointed as Director.
Ceased
Rohit Bhagat ceased to be Nominee Director.
Filing
Phonepe Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Ceased
Manish Mahendra Sabharwal ceased to be Additional Director.
Appointed
Manish Mahendra Sabharwal was appointed as Director.
Ceased
Binny Bansal ceased to be Nominee Director.
Appointed
Adarsh Nahata was appointed as CFO.
Ceased
Tarun Bajaj ceased to be Additional Director.
Appointed
Sameer Nigam was appointed as CEO.
Ceased
Judith Jane Mckenna ceased to be Nominee Director.
32 earlier events are in the company report.
News
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Frequently asked questions
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 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
The latest financial statements of Phonepe on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 21 August 2025. Year-wise statements from 2015 are in the company report.
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 115 court cases on record: 76 filed by the company and 39 filed against it. 46 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, Worldline Epayments India Private Limited, India1 Payments Limited, all in the BFSI industry (Payment Solution Providers), with the same principal business activity (other financial activities).
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.
Phonepe has 55 MSME Form 1 returns on record between 2018 and 2024, listing 5,525 overdue payments to 388 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Phonepe can be reached through the website phonepe.com. Its registered office is in Bangalore, Karnataka, India.