MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-PB-12-0069230
Revenue · FY 2026
₹80.06 Cr
▲ 59% YoY
Net profit · FY 2026
₹11.22 Cr
Net margin 14%
EBITDA · FY 2026
₹16.54 Cr
EBITDA margin 20.7%
Authorised capital
₹11 Cr
Registered with MCA
Paid-up capital
₹10.64 Cr
Issued & subscribed
Open charges
₹5.76 Cr
Secured borrowings
Company age
5 yrs
Est. 2021
Employees · EPFO
27
Provident fund records
About Recode Studios Limited
Data last updated:
Recode Studios Limited is a public limited company based in Ludhiana, Punjab, India. It operates in the online cosmetics retail segment of the e-commerce sector. It was incorporated on 16 June 2021 and has been in existence for over 5 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN L74999PB2021PLC053619. Its GSTIN is 03AALCR0656F1ZK (Punjab). The company holds 5 GST registrations, of which 4 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 544755.
The company has an authorised share capital of ₹11 Cr and a paid-up capital of ₹10.64 Cr. It was formerly known as Recode Studios Private Limited. It is led by directors including Dheeraj Bansal (Managing Director) and Shelly Bansal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at R – 89 Phase V Focal Point, Ludhiana, Punjab, India – 141010.
As per the financials filed for FY 2026, the company reported a revenue of ₹80.06 Cr, a growth of 59% compared to the previous year. For the same year it recorded a net profit of ₹11.22 Cr (net margin 14%) and EBITDA of ₹16.54 Cr (EBITDA margin 20.7%). Revenue has grown at a compounded annual rate (CAGR) of 53% over three years.
The company has about 27 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Recodefranchise and Recode Studios. As per MCA filings, the company has open charges of ₹5.76 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 2 deals on record (1 funding round, 1 ipo); the latest was in May 2026. Its 3 peer companies in the Consumer Products industry (Health and Beauty Retail and Distribution), with the same principal business activity (retail trading) are compared by revenue, 2 larger and 1 smaller; the largest is Gauraangana Trade Private Limited with revenue of ₹51.53 Cr.
Recode Studios Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-PB-12-0069230). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website shop.recodestudios.com.
Company details
CIN L74999PB2021PLC053619
Registration Number 053619
Incorporation Date 16 June 2021
ROC Chandigarh
Listing Status Listed - Listed on BSE (544755)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-PB-12-0069230
CIN history
Recode Studios has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L74999PB2021PLC053619, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74999PB2021PLC053619 | Current |
| U74999PB2021PTC053619 | Previous |
| U74999PB2021PLC053619 | Previous |
Key People
Dheeraj Bansal Managing Director Shelly Bansal Whole-Time Director Karan Bansal Whole-Time Director Recognitions & Rankings of Recode Studios
Contact details
Recode Studios Limited's registered office is in Ludhiana, Punjab.
- Social Media
- Registered AddressR – 89 Phase V Focal Point, Ludhiana, Punjab, India – 141010
- IndustryE-Commerce, Online Cosmetics Retail
Comprehensive company report
Recode Studios 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
Recode Studios operates two associated brands: Recodefranchise and Recode Studios. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Multi-category makeup care products are sold online by Recode Studios. | recodestudios.com | |
| Beauty and personal care products, including makeup and skin care items, are sold by Recode Studios in India. | recodefranchise.com |
Business activity
The main business activity of Recode Studios is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Recode Studios Limited, buy the company report.
Financials of Recode Studios Limited
FY 2025 filings availableRecode Studios Limited reported revenue of ₹80.06 Cr (up 59% YoY) for FY 2026.
Revenue · FY 2026
₹80.06 Cr ▲ 59%
Net profit · FY 2026
₹11.22 Cr margin 14%
EBITDA · FY 2026
₹16.54 Cr margin 20.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 59%
3 years · compounded
▲ 53%
EBITDA CAGR growth
1 year
▲ 167%
3 years · compounded
▲ 125%
Revenue has grown at a compounded annual rate (CAGR) of 53% over three years, including 59% growth in the latest year. EBITDA rose 167% 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 | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹80.06 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹16.54 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹11.22 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
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 20.7% | ||||
| Net Profit Margin | 14% | ||||
| 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 | |||||
To see the full financial statements and ratios of Recode Studios Limited, buy the company report.
Board of directors of Recode Studios Limited
Recode Studios has 6 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Dheeraj Bansal | Managing Director | 16 Jun 2021 | 5 Years 4 Months | Current |
| Shalini Trehan | Director | 25 Aug 2025 | 1 Years 2 Months | Current |
| Shelly Bansal | Whole-Time Director | 23 Jul 2025 | 1 Years 3 Months | Current |
| Karan Bansal | Whole-Time Director | 02 Apr 2024 | 2 Years 6 Months | Current |
| Shailja | Director | 24 Aug 2026 | 0 Years 2 Months | Current |
| Palak Chugh | Director | 24 Aug 2026 | 0 Years 2 Months | Current |
Peer comparison
Recode Studios Limited is compared with the 3 companies closest to it by revenue in the Consumer Products industry (Health and Beauty Retail and Distribution), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Recode Studios Limitedthis company | ₹80.06 Cr (FY 2026) | ₹11.22 Cr | 14% | 59.0% | Ludhiana, Punjab, India | |
| Gauraangana Trade Private Limited | ₹51.53 Cr (FY 2025) | 7.0% | New Delhi, Delhi, India | |||
| Edaline International Private Limited | ₹49.73 Cr (FY 2025) | 172.0% | Mumbai, Maharashtra, India | |||
| L'occitane India Private Limited | ₹44.12 Cr (FY 2025) | 19.0% | New Delhi, Delhi, India |
To see the full peer comparison of Recode Studios Limited, buy the company report.
Charges & borrowings
Open charges
₹5.76 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 22 May 2026 | 101296173 | Hdfc Bank Limited | ₹25 Lakh | Open | |
| 15 May 2026 | 101291981 | Hdfc Bank Limited | ₹25 Lakh | Open | |
| 29 Jul 2025 | 101162426 | Others | ₹25 Lakh | Open | |
| 09 Jul 2025 | 101130208 | Hdfc Bank Limited | ₹32.69 Lakh | Open | |
| 31 Mar 2025 | 101084276 | Hdfc Bank Limited | ₹18.5 Lakh | Open |
To see the full charge records of Recode Studios Limited, buy the company report.
Total charge records: 8 View all charges
Deals & funding
Recode Studios Limited has 2 deals on record (1 funding round, 1 ipo); the latest was in May 2026.
Total deals
2
Funding round
1
IPO
1
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2026 | IPO | ₹42.31 Cr | Investors: Sanshi Fund - I, Mint Focussed Growth Fund PCC - CELL 1, Shrem Investments Private Limited Seller: 3 individuals |
| Feb 2023 | Funding round · Pre-Series A | Undisclosed | Investors: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Recode Studios Limited has 1 court case on record: 1 filed by Recode Studios. All case is disposed.
Total cases
1
Filed by the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ludhiana, Punjab | Commercial suit | Filed by the company against M/S Kamakhya Retails | Disposed |
To see the full case history of Recode Studios 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 Recode Studios Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Recode Studios has 5 GST registrations: 4 active and 1 cancelled or inactive.
Total GSTINs
5
Active
4
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AALCR0656F1ZK | Punjab | Active | 29 Jun 2021 |
| 07AALCR0656F1ZC | Delhi | Active | 05 Apr 2023 |
| 06AALCR0656F1ZE | Haryana | Active | 21 Sep 2023 |
| 27AALCR0656F1ZA | Maharashtra | Active | 06 Dec 2023 |
To see the full GST registrations and return filing status of Recode Studios Limited, buy the company report.
Recent activity
Recode Studios Limited has 14 board changes on record since 2021: 6 appointments and 8 cessations. The latest: Palak Chugh was appointed as Director on 24 Aug 2026.
Appointed
Palak Chugh was appointed as Director.
Appointed
Shailja was appointed as Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.25 Cr with Charge ID 101296173 was registered on 22 May 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.25 Cr with Charge ID 101291981 was registered on 15 May 2026.
Ceased
Rahul Sachdeva ceased to be Director.
AGM
Recode Studios Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Manoj Kumar ceased to be Additional Director.
Ceased
Naveen Gupta ceased to be Additional Director.
Ceased
Sarat Kumar Mishra ceased to be Additional Director.
Ceased
Shalini Trehan ceased to be Additional Director.
Ceased
Shelly Bansal ceased to be Additional Director.
Appointed
Shalini Trehan was appointed as Director.
14 earlier events are in the company report.
News
Frequently asked questions
Recode Studios is an active public limited company based in Ludhiana, Punjab, India. The company works in online cosmetics retail, within the e-commerce industry. It was incorporated on 16 June 2021 (5+ years old) and is registered under CIN L74999PB2021PLC053619. Listed on BSE: 544755.
Recode Studios has 6 current directors:
- Dheeraj Bansal - Managing Director
- Shelly Bansal - Whole-Time Director
- Karan Bansal - Whole-Time Director
- Shalini Trehan - Director
- Shailja - Director
- Palak Chugh - Director
The latest financial statements of Recode Studios on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2022 are in the company report.
The GSTIN of Recode Studios is 03AALCR0656F1ZK, registered in Punjab. The company has 5 GST registrations in all, of which 4 are active and 1 is cancelled or inactive. Other active GSTINs include 07AALCR0656F1ZC (Delhi), 06AALCR0656F1ZE (Haryana), 27AALCR0656F1ZA (Maharashtra).
The CIN (Corporate Identification Number) of Recode Studios is L74999PB2021PLC053619. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Recode Studios is a listed company as per MCA records. Its shares are listed on BSE (code: 544755).
Recode Studios has 1 court case on record: 1 filed by the company.
Recode Studios was incorporated on 16 June 2021, making it 5+ years old. It is registered with the Registrar of Companies, Chandigarh.
Recode Studios has 2 deals on record (1 funding round, 1 ipo); the latest was in May 2026.
The peers of Recode Studios by revenue are Gauraangana Trade Private Limited, Edaline International Private Limited, L'occitane India Private Limited, all in the Consumer Products industry (Health and Beauty Retail and Distribution), with the same principal business activity (retail trading).
Palak Chugh was appointed as Director on 24 Aug 2026. Shailja was appointed as Director on 24 Aug 2026. Rahul Sachdeva ceased to be Director on 30 Nov 2025. Recode Studios has 14 board changes on record in total.
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