Targetone Innovations Private Limited

Targetone Innovations Private Limited - automotive in Delhi, India. FY 2026 financials & compliance.
CIN U74999DL2016PTC300195 Incorporated 23 May 2016 ROC Delhi HQ Delhi, India
Active Private Limited Company automotive MSME · Medium
Data last updated
Revenue · FY 2023
₹309.79 Cr
▲ 220% YoY
Net loss · FY 2023
₹147.17 Cr
Net margin -47.5%
EBITDA · FY 2023
-₹142.67 Cr
EBITDA margin -46.1%
Authorised capital
₹3.31 Cr
Registered with MCA
Paid-up capital
₹3.28 Cr
Issued & subscribed
Open charges
₹100 Cr
Satisfied ₹146.05 Cr
Company age
10 yrs
Est. 2016
Employees · EPFO
551
Provident fund records

About Targetone Innovations Private Limited

Data last updated:

Targetone Innovations Private Limited is a private limited company based in Delhi, India. It operates in the auto parts and components segment of the automotive sector. It was incorporated on 23 May 2016 and has been in existence for over 10 years.

The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U74999DL2016PTC300195. Its GSTIN is 07AAFCT7627N1ZQ (Delhi). The company holds 32 GST registrations, all of them active.

The company has an authorised share capital of ₹3.31 Cr and a paid-up capital of ₹3.28 Cr. It is led by directors including Rishabh Shailesh Karwa and Kushal Shailesh Karwa.

Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Shop No 8 Ramesh Market Dayanand Colony Lajpat Nagar, Delhi, India – 110024.

As per the financials filed for FY 2023, the company reported a revenue of ₹309.79 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹147.17 Cr (net margin -47.5%) and EBITDA of -₹142.67 Cr (EBITDA margin -46.1%). Revenue has grown at a compounded annual rate (CAGR) of 131% over three years and 105% over five years.

The company has about 551 employees on its provident fund (EPFO) records.

The company is associated with 3 brands: Smart Parts Exports, GoMechanic Spares and GoMechanic. As per MCA filings, the company has open charges of ₹100 Cr and satisfied charges of ₹146.05 Cr on record. Court records list 9 cases involving the company, including 4 filed by the company and 5 filed against it; 2 cases are pending. The company has 12 deals on record (5 funding rounds, 4 secondary share transfers, 2 acquisitions), with disclosed funding of ₹398.54 Cr; the latest was in March 2023. The company has 4 MSME Form 1 returns on record between 2020 and 2022, listing 232 overdue payments to 26 micro and small suppliers.

Targetone Innovations Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-HR-05-0019568). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gomechanic.in.

Company details

CIN U74999DL2016PTC300195
Registration Number 300195
Incorporation Date 23 May 2016
ROC Delhi
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2023
Date of Balance Sheet 31 March 2023
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-HR-05-0019568
Key People
Rishabh Shailesh Karwa Director Kushal Shailesh Karwa Director Amit Bhasin Director

Recognitions & Rankings of Targetone Innovations

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-HR-05-0019568

Contact details

Targetone Innovations Private Limited's registered office is in Delhi, Delhi. Its website is gomechanic.in. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    gomechanic.in
  • Social Media
  • Apps
  • Registered Address
    Shop No 8 Ramesh Market Dayanand Colony Lajpat Nagar, Delhi, India – 110024
  • Industry
    Automotive, Auto Parts & Components, Auto Dealership & Trading

To see the full contact details of Targetone Innovations Private Limited, buy the company report.

Comprehensive company report
Targetone Innovations Private 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

Targetone Innovations operates multiple associated brands including Smart Parts Exports, GoMechanic Spares, and GoMechanic. Each brand links to its own profile.

BrandDescriptionWebsite
Smart Parts Exports
Exports genuine and aftermarket automotive spare parts for vehicles worldwide from India.smartpartsexports.com
GoMechanic Spares
Functions as an app-based retailer of auto parts and accessories.gomechanicspares.com
GoMechanic
Provider of car service and repair networkgomechanic.in

Business activity

The main business activity of Targetone Innovations is transport and storage. In detail, this covers services incidental to land, water & air transportation.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
HTransport and storageH5Services incidental to land, water & air transportation

To see the full business activity and turnover split of Targetone Innovations Private Limited, buy the company report.

Financials of Targetone Innovations Private Limited

FY 2023 filings available

Targetone Innovations Private Limited reported revenue of ₹309.79 Cr (up 220% YoY) for FY 2023.

Revenue · FY 2023
₹309.79 Cr ▲ 220%
Net loss · FY 2023
₹147.17 Cr margin -47.5%
EBITDA · FY 2023
-₹142.67 Cr margin -46.1%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 220%
3 years · compounded
▲ 131%
5 years · compounded
▲ 105%
EBITDA CAGR growth
1 year
▼ 28%
3 years · compounded
▼ 35%
5 years · compounded
▼ 194%

Revenue has grown at a compounded annual rate (CAGR) of 105% over five years, including 220% growth in the latest year. EBITDA fell 28% 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

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Profit and Loss Statement
Revenue from Operations
Other Income
Total Revenue₹309.79 Cr
Cost of Materials Consumed
Employee Benefit Expense
Finance Costs
Depreciation and Amortisation
Other Expenses
Total Expenses
EBITDA-₹142.67 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)-₹147.17 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

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Profitability
EBITDA Margin-46.1%
Net Profit Margin-47.5%
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 Targetone Innovations Private Limited, buy the company report.

Board of directors of Targetone Innovations Private Limited

Targetone Innovations has 4 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Rishabh Shailesh Karwa
Also directs: Ikshana General Insurance Limited, Genshi Solutions Private Limited
Director14 Jun 20215 Years 4 MonthsCurrent
Kushal Shailesh Karwa
Also directs: Ikshana General Insurance Limited
Director23 May 201610 Years 5 MonthsCurrent
Amit Bhasin
Also directs: Aksharveda Lifestyle Private Limited, Ikshana General Insurance Limited
Director23 May 201610 Years 5 MonthsCurrent
Nitin Rana
Also directs: Ikshana General Insurance Limited
Director14 Jun 20215 Years 4 MonthsCurrent
View all directors

Auditor

Targetone Innovations Private Limited is audited by C A M & Co for the financial year 2023.

Auditor firmFinancial yearFirm registration number
C A M & CoFY 20230017274N

Shareholding

The shareholding of Targetone Innovations Private 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 categoryFY 2023FY 2021FY 2020FY 2019FY 2018
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Targetone Innovations Private Limited, buy the company report.

Charges & borrowings

Open charges
₹100 Cr
Satisfied charges
₹146.05 Cr
Breakdown by lending institutions
Others₹100.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
11 Jan 2023100663437Others₹100 CrOpen
11 Jan 2023100662756Others₹75 CrSatisfied
18 Jun 2022100589299The Hongkong and Shanghai Banking Corporation Limited₹5.38 CrSatisfied
18 Jun 2022100594562The Hongkong and Shanghai Banking Corporation Limited₹9.5 CrSatisfied
17 Nov 2021100534217Axis Bank Limited₹10 CrSatisfied

To see the full charge records of Targetone Innovations Private Limited, buy the company report.

Total charge records: 10 View all charges

Deals & funding

Targetone Innovations Private Limited has 12 deals on record (5 funding rounds, 4 secondary share transfers, 2 acquisitions), with disclosed funding of ₹398.54 Cr; the latest was in March 2023.

Total deals
12
Funding rounds
5
Secondary share transfers
4
Acquisitions
2
Convertible or debt financing
1
Disclosed funding
₹398.54 Cr

Deals on record (5 of 12)

WhenDealAmountParties
Mar 2023AcquisitionUndisclosedBuyer: an individual
Jun 2021Funding round · Series C₹257.33 CrInvestors: Tiger Global, Peak XV Partners (Sequoia India and SEA), Orios Venture Partners
Nov 2019Funding round · Series B₹105 CrInvestors: Peak XV Partners (Sequoia India and SEA), Chiratae Ventures (IDG), Orios Venture Partners
Jan 2019Secondary share transferUndisclosedBuyer: Orios Venture Partners, Peak XV Partners (Sequoia India and SEA)
Seller: an individual
Jan 2019Funding round · Series A₹28.82 CrInvestors: Peak XV Partners (Sequoia India and SEA), Orios Venture Partners

To see the full deal history of Targetone Innovations Private Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

Targetone Innovations Private Limited has 4 MSME Form 1 returns on record between 2020 and 2022, listing 232 overdue payments to 26 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 26)

SupplierAmount dueDue sinceReported on
an individual supplier
Spectrum Petromac Private Limited
Ad Box Private Limited
Nkpy & Associates
Viketa Promotions Private Limited

To see the full MSME payment records of Targetone Innovations Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Targetone Innovations Private Limited has a workforce of 551 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.

Employee count
551
Active EPFO establishments
1
Employee growth
10.42%

GST

Targetone Innovations has 32 GST registrations: 32 active. The first 4 active GSTINs are listed below.

Total GSTINs
32
Active
32
GSTINStateStatusRegistered on
07AAFCT7627N1ZQDelhiActive01 Jul 2017
07AAFCT7627N1C1DelhiActive22 Aug 2021
06AAFCT7627N1ZSHaryanaActive01 Jul 2017
27AAFCT7627N1ZOMaharashtraActive13 Feb 2018

To see the full GST registrations and return filing status of Targetone Innovations Private Limited, buy the company report.

Recent activity

Targetone Innovations Private Limited has 5 board changes on record since 2016: 4 appointments and 1 cessation. The latest: Abhishek Mohan ceased to be Nominee Director on 19 Jan 2023.

AGM
Targetone Innovations Private Limited last Annual general meeting of members was held on 30 Sep 2023 as per latest MCA records.
Charges
A charge registered on 11 Jan 2023 via Charge ID 100662756 with Others was fully satisfied on 04 May 2023.
Charges
A charge registered on 18 Jun 2022 via Charge ID 100589299 with The Hongkong And Shanghai Banking Corporation Limited was fully satisfied on 21 Apr 2023.
Charges
A charge registered on 18 Jun 2022 via Charge ID 100594562 with The Hongkong And Shanghai Banking Corporation Limited was fully satisfied on 21 Apr 2023.
Charges
A charge registered on 17 Nov 2021 via Charge ID 100534217 with Axis Bank Limited was fully satisfied on 05 Apr 2023.
Filing
Targetone Innovations Private Limited has filed its annual Financial statements for the year ended 31 Mar 2023 with Roc Delhi.
Charges
A charge registered on 29 Dec 2020 via Charge ID 100414185 with Others was fully satisfied on 07 Feb 2023.
Charges
A charge registered on 29 Dec 2020 via Charge ID 100414187 with Others was fully satisfied on 07 Feb 2023.
Charges
A charge registered on 29 Dec 2020 via Charge ID 100414188 with Others was fully satisfied on 07 Feb 2023.
Charges
A charge registered on 11 Jul 2020 via Charge ID 100361570 with Others was fully satisfied on 07 Feb 2023.
Ceased
Abhishek Mohan ceased to be Nominee Director.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 100663437 was registered on 11 Jan 2023.

16 earlier events are in the company report.

News

Frequently asked questions

Targetone Innovations is an active private limited company based in Delhi, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 23 May 2016 (10+ years old) and is registered under CIN U74999DL2016PTC300195.

Targetone Innovations has 4 current directors:

The latest financial statements of Targetone Innovations on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from FY 2017 are in the company report.

The GSTIN of Targetone Innovations is 07AAFCT7627N1ZQ, registered in Delhi. The company has 32 GST registrations in all, of which 32 are active. Other active GSTINs include 07AAFCT7627N1C1 (Delhi), 06AAFCT7627N1ZS (Haryana), 27AAFCT7627N1ZO (Maharashtra).

The CIN (Corporate Identification Number) of Targetone Innovations is U74999DL2016PTC300195. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Targetone Innovations has 9 court cases on record: 4 filed by the company and 5 filed against it. 2 are pending. Most are in the district courts.

Targetone Innovations was incorporated on 23 May 2016, making it 10+ years old. It is registered with the Registrar of Companies, Delhi.

Targetone Innovations has 12 deals on record (5 funding rounds, 4 secondary share transfers, 2 acquisitions), with disclosed funding of ₹398.54 Cr; the latest was in March 2023.

Abhishek Mohan ceased to be Nominee Director on 19 Jan 2023. Nitin Rana was appointed as Director on 14 Jun 2021. Rishabh Shailesh Karwa was appointed as Director on 14 Jun 2021. Targetone Innovations has 5 board changes on record in total.

Yes, Targetone Innovations is registered as a medium enterprise under Udyam registration (number: UDYAM-HR-05-0019568).

Targetone Innovations has 4 MSME Form 1 returns on record between 2020 and 2022, listing 232 overdue payments to 26 micro and small suppliers. The latest return was filed on 30 Apr 2022.