MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-19-0107578
Shift Risk Insurance Brokers Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹18.33 Cr
▲ 93% YoY
Net profit · FY 2024
₹2.19 Cr
Net margin 12%
EBITDA · FY 2024
₹3.65 Cr
EBITDA margin 19.9%
Authorised capital
₹85 Lakh
Registered with MCA
Paid-up capital
₹75 Lakh
Issued & subscribed
Open charges
₹46.8 Lakh
Secured borrowings
Company age
18 yrs
Est. 2008
Employees · EPFO
71
Provident fund records
About Shift Risk Insurance Brokers Limited
Data last updated:
Shift Risk Insurance Brokers Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the insurance brokerage and advisory segment of the financial services sector. It was incorporated on 01 April 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U66000MH2008PLC180664. Its GSTIN is 27AABCO0255F1ZS (Maharashtra).
The company has an authorised share capital of ₹85 Lakh and a paid-up capital of ₹75 Lakh. It was formerly known as Opal Insurance Services Private Limited and Opal Insurance Brokers Limited. It is led by directors including Hetal Himanshu Sodha and Kanika Kunal Popat.
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 501 – 502 5th Floor Pearl Building B Wing Sandhu Marg 19th Road Corner Chembur, Mumbai, Maharashtra, India – 400071.
As per the financials filed for FY 2024, the company reported a revenue of ₹18.33 Cr, a growth of 93% compared to the previous year. For the same year it recorded a net profit of ₹2.19 Cr (net margin 12%) and EBITDA of ₹3.65 Cr (EBITDA margin 19.9%). Revenue has grown at a compounded annual rate (CAGR) of 38% over three years and 23% over five years.
The company has about 71 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: ShiftRisk. As per MCA filings, the company has open charges of ₹46.8 Lakh on record.
Shift Risk Insurance Brokers Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0107578). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website shiftrisk.com.
Company details
CIN U66000MH2008PLC180664
Registration Number 180664
Incorporation Date 01 April 2008
ROC Mumbai
Listing Status Unlisted
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-MH-19-0107578
Name history
Shift Risk Insurance Brokers has undergone 3 name changes throughout its history. The company was previously known as Opal Insurance Services Private Limited, Opal Insurance Brokers Limited, and Opal Insurance Services Limited. The current legal name is Shift Risk Insurance Brokers Limited.
| Company Name | Status |
|---|---|
| Shift Risk Insurance Brokers Limited | Current |
| Opal Insurance Services Private Limited | Previous |
| Opal Insurance Brokers Limited | Previous |
| Opal Insurance Services Limited | Previous |
CIN history
Shift Risk Insurance Brokers has one previous CIN (Corporate Identification Number): U66000MH2008PTC180664. The current CIN is U66000MH2008PLC180664, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U66000MH2008PLC180664 | Current |
| U66000MH2008PTC180664 | Previous |
Recognitions & Rankings of Shift Risk Insurance Brokers
Contact details
Shift Risk Insurance Brokers Limited's registered office is in Mumbai, Maharashtra. Its website is shiftrisk.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address501 – 502 5th Floor Pearl Building B Wing Sandhu Marg 19th Road Corner Chembur, Mumbai, Maharashtra, India – 400071
- IndustryFinancial Services, Insurance Brokerage & Advisory
To see the full contact details of Shift Risk Insurance Brokers Limited, buy the company report.
Comprehensive company report
Shift Risk Insurance Brokers 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Shift Risk Insurance Brokers operates one associated brand: ShiftRisk. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Insurance quotes for individuals are compared online across multiple categories. | shiftrisk.com |
Business activity
The main business activity of Shift Risk Insurance Brokers is financial and insurance service. In detail, this covers life/non-life insurance and reinsurance activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K3 | Life/Non-life Insurance and Reinsurance activities |
To see the full business activity and turnover split of Shift Risk Insurance Brokers Limited, buy the company report.
Financials of Shift Risk Insurance Brokers Limited
FY 2025 filings availableShift Risk Insurance Brokers Limited reported revenue of ₹18.33 Cr (up 93% YoY) for FY 2024.
Revenue · FY 2024
₹18.33 Cr ▲ 93%
Net profit · FY 2024
₹2.19 Cr margin 12%
EBITDA · FY 2024
₹3.65 Cr margin 19.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 93%
3 years · compounded
▲ 38%
5 years · compounded
▲ 23%
EBITDA CAGR growth
1 year
▲ 119%
3 years · compounded
▲ 58%
5 years · compounded
▲ 15%
Revenue has grown at a compounded annual rate (CAGR) of 23% over five years, including 93% growth in the latest year. EBITDA rose 119% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| 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 | ₹3.65 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹2.19 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 19.9% | ||||
| Net Profit Margin | 12% | ||||
| 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 Shift Risk Insurance Brokers Limited, buy the company report.
Board of directors of Shift Risk Insurance Brokers Limited
Shift Risk Insurance Brokers has 4 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hetal Himanshu Sodha | Director | 19 Nov 2015 | 10 Years 11 Months | Current |
| Kanika Kunal Popat | Director | 27 Dec 2021 | 4 Years 10 Months | Current |
| Vishva Mitter Handa | Director | 23 Jun 2015 | 11 Years 4 Months | Current |
| Raghavendra Rao Matam | Director | 16 Jan 2025 | 1 Years 9 Months | Current |
Auditor
Shift Risk Insurance Brokers Limited is audited by Deepak D Jain & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deepak D Jain & Co. | FY 2023 | 127917W |
Shareholding
The shareholding of Shift Risk Insurance Brokers 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 Shift Risk Insurance Brokers Limited, buy the company report.
Charges & borrowings
Open charges
₹46.8 Lakh
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Oct 2023 | 100829237 | Hdfc Bank Limited | ₹34.8 Lakh | Open | |
| 27 Apr 2022 | 100571869 | Hdfc Bank Limited | ₹12 Lakh | Open |
Total charge records: 2 View all charges
Legal cases
No court or tribunal cases involving Shift Risk Insurance Brokers Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Shift Risk Insurance Brokers Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Shift Risk Insurance Brokers Limited has a workforce of 71 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
Employee count
71
Active EPFO establishments
1
Employee growth
24.56%
GST
Shift Risk Insurance Brokers has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCO0255F1ZS | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Shift Risk Insurance Brokers Limited, buy the company report.
Recent activity
Shift Risk Insurance Brokers Limited has 10 board changes on record since 2015: 4 appointments and 6 cessations. The latest: Raghavendra Rao Matam ceased to be Additional Director on 29 Sep 2025.
AGM
Shift Risk Insurance Brokers Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Raghavendra Rao Matam ceased to be Additional Director.
Filing
Shift Risk Insurance Brokers Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Appointed
Raghavendra Rao Matam was appointed as Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 34.80 Lakh with Charge ID 100829237 was registered on 26 Oct 2023.
Ceased
Kunal Dhirendra Popat ceased to be Director.
Ceased
Kanika Kunal Popat ceased to be Additional Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 12.00 Lakh with Charge ID 100571869 was registered on 27 Apr 2022.
Appointed
Kanika Kunal Popat was appointed as Director.
Ceased
Damayanti Dhirendra Popat ceased to be Director.
Appointed
Hetal Himanshu Sodha was appointed as Director.
Ceased
Vishva Mitter Handa ceased to be Additional Director.
3 earlier events are in the company report.
Frequently asked questions
Shift Risk Insurance Brokers is an active public limited company based in Mumbai, Maharashtra, India. The company works in insurance brokerage and advisory, within the financial services industry. It was incorporated on 01 April 2008 (18+ years old) and is registered under CIN U66000MH2008PLC180664.
Shift Risk Insurance Brokers has 4 current directors:
- Hetal Himanshu Sodha - Director
- Kanika Kunal Popat - Director
- Vishva Mitter Handa - Director
- Raghavendra Rao Matam - Director
The latest financial statements of Shift Risk Insurance Brokers 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 2015 are in the company report.
The GSTIN of Shift Risk Insurance Brokers is 27AABCO0255F1ZS, registered in Maharashtra.
The CIN (Corporate Identification Number) of Shift Risk Insurance Brokers is U66000MH2008PLC180664. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Shift Risk Insurance Brokers was incorporated on 01 April 2008, making it 18+ years old. It is registered with the Registrar of Companies, Mumbai.
Raghavendra Rao Matam ceased to be Additional Director on 29 Sep 2025. Raghavendra Rao Matam was appointed as Director on 16 Jan 2025. Kunal Dhirendra Popat ceased to be Director on 09 Jan 2023. Shift Risk Insurance Brokers has 10 board changes on record in total.
Yes, Shift Risk Insurance Brokers is registered as a small enterprise under Udyam registration (number: UDYAM-MH-19-0107578).
Shift Risk Insurance Brokers can be reached through the website shiftrisk.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Shift Risk Insurance Brokers is at 501 – 502 5th Floor Pearl Building B Wing Sandhu Marg 19th Road Corner Chembur, Mumbai, Maharashtra, India – 400071.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
Swiggy Limited Listed company · 92 pages
BharatPe (Resilient Innovations Pvt Ltd) Unlisted company · 78 pages