About Thar Worx Private Limited
Data last updated:
Thar Worx Private Limited is a private limited company based in Bengaluru, Karnataka, India. It operates in the medical transcription segment of the business process outsourcing sector. It was incorporated on 08 December 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74900KA2015PTC084551. Its GSTIN is 29AABCW7432Q1ZK (Karnataka). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹1 Lakh and a paid-up capital of ₹1 Lakh. It was formerly known as Waterlabs Ai India Private Limited and Tharworx Ai Technologies Private Limited. It is led by directors Kamalraj Chandrasekaran and Kamalraj Rekha.
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 Bengaluru, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹27.36 Cr, a decline of 70% compared to the previous year. For the same year it recorded a net loss of ₹5 Cr (net margin -18.3%) and EBITDA of -₹3.28 Cr (EBITDA margin -12%). Revenue has grown at a compounded annual rate (CAGR) of 25% over three years and 324% over five years.
The company has about 1,319 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Waterlabs AI and TharWorx. As per MCA filings, the company has open charges of ₹3.69 Cr on record. The company has 1 deal on record (1 secondary share transfer); the latest was in March 2021. Its 10 peer companies in the Outsourcing industry (Medical Transcription) are compared by revenue, 5 larger and 5 smaller; the largest is Chirok Health India Private Limited with revenue of ₹31.04 Cr. The company has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 12 overdue payments to 3 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 tharworx.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address19th Floor Tower A Signature Towers Brigade Golden Triangle Kattamanallur Gate Flyo, Ver, Bengaluru, Karnataka, India – 560049
- IndustryBusiness Outsourcing, Medical Transcription
- 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 Thar Worx Private Limited
The main business activity of Thar Worx is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical 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 Thar Worx Private Limited FY 2025 filings available
Thar Worx Private Limited reported revenue of ₹27.36 Cr (down 70% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Thar Worx Private Limited
Revenue fell 70% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 324%. EBITDA fell 149% 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 Thar Worx Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| 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 | -₹3.28 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹5 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 Thar Worx Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -12% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -18.3% | •••• | •••• | •••• | •••• |
| 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 Thar Worx are in the company report.
Financial statements from FY 2016
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 Thar Worx Private Limited
Thar Worx Private Limited is compared with the companies closest to it by revenue in the Outsourcing industry (Medical Transcription). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Chirok Health India Private Limited | ₹31.04 Cr (FY 2025) | •••• | •••• | 42.0% | •••• | Hyderabad, Telangana, India |
| Fidelitas RCM Private Limited | ₹30.68 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Chennai, Tamil Nadu, India |
| Trivent Systems Private Limited | ₹30.61 Cr (FY 2025) | •••• | •••• | 13.0% | •••• | Chennai, Tamil Nadu, India |
| British Orient Infotel Private Limited | ₹30.03 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | Bangalore, Karnataka, India |
| Med-Pro Health Care Services Private Limited | ₹29 Cr (FY 2025) | •••• | •••• | 11.0% | •••• | Chennai, Tamil Nadu, India |
| Thar Worx Private Limited this company | ₹27.36 Cr (FY 2025) | •••• | •••• | -70.0% | •••• | Bengaluru, Karnataka, India |
| VLMS Global Private Limited | ₹27.13 Cr (FY 2025) | •••• | •••• | 389.0% | •••• | Pune, Maharashtra, India |
| 4D Global Medical Billing Services Private Limited | ₹26.42 Cr (FY 2025) | •••• | •••• | 8.0% | •••• | Chennai, Tamil Nadu, India |
| Pena4 Tech Solutions India Private Limited | ₹25.96 Cr (FY 2023) | •••• | •••• | 44.0% | •••• | Visakhapatnam, Andhra Pradesh, India |
| Saisystems Health Tech Private Limited | ₹25.47 Cr (FY 2024) | •••• | •••• | 32.0% | •••• | Chennai, Tamil Nadu, India |
| Allzone Management Solutions Private Limited | ₹25.33 Cr (FY 2025) | •••• | •••• | 13.0% | •••• | Chennai, Tamil Nadu, India |
Peers are the five companies nearest above and the five nearest below Thar Worx by revenue in the Outsourcing industry (Medical Transcription), 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 Thar Worx Private Limited
Thar Worx Private Limited is audited by HVJ AND ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| HVJ AND ASSOCIATES | 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 of Thar Worx Private Limited
Thar Worx has 2 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kamalraj Chandrasekaran | Director | 22 Mar 2024 | 2 Years 6 Months | Current |
| Kamalraj Rekha | Director | 22 Mar 2024 | 2 Years 6 Months | Current |
Ownership and Shareholding of Thar Worx Private 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 Thar Worx Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 08 Dec 2023 | Others | ₹1.75 Cr | Open |
| 18 Oct 2023 | Others | ₹1.94 Cr | Open |
Total charge records: 2 View all charges
Deals & Funding of Thar Worx Private Limited
Thar Worx Private Limited has 1 deal on record (1 secondary share transfer); the latest was in March 2021.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
Full deal history
All 1 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.
MSME Payment Delays by Thar Worx Private Limited
Thar Worx Private Limited has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 12 overdue payments to 3 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 (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Red Hut Innovation Technology Private Limited | •••• | •••• | •••• |
| Athena IT and Telecom Solutions Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 3 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 Thar Worx Private Limited
Thar Worx operates two associated brands: Waterlabs AI and TharWorx. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers AI solutions for healthcare automation, revenue management, and customer experience services. | waterlabs.ai | |
| Delivers comprehensive revenue cycle management, credentialing, and coding services. | tharworx.com |
Employees and EPFO Compliance at Thar Worx Private Limited
Thar Worx Private Limited has a workforce of 1,319 employees as of Mar 28, 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.
Name History of Thar Worx Private Limited
Thar Worx has undergone 3 name changes throughout its history. The company was previously known as Waterlabs Ai India Private Limited, Tharworx Ai Technologies Private Limited, and Wecan Tech Private Limited. The current legal name is Thar Worx Private Limited.
| Company Name | Status |
|---|---|
| Thar Worx Private Limited | Current |
| Waterlabs Ai India Private Limited | Previous |
| Tharworx Ai Technologies Private Limited | Previous |
| Wecan Tech Private Limited | Previous |
News related to Thar Worx Private Limited
Recent Activity on Thar Worx Private Limited
Thar Worx Private Limited has 8 board changes on record since 2020: 2 appointments and 6 cessations. The latest: Kamalraj Chandrasekaran ceased to be Additional Director on 29 Sep 2024.
1 earlier event is listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Thar Worx Private 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 Thar Worx Private 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 Thar Worx Private Limited
Thar Worx has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCW7432Q1ZK | Karnataka | Active | 01 Jul 2017 |
| 36AABCW7432Q1ZP | Telangana | Active | 03 Nov 2021 |
| 37AABCW7432Q1ZN | Andhra Pradesh | Active | 28 Mar 2024 |
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 Thar Worx Private 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 Thar Worx Private Limited
Thar Worx is an active private limited company based in Bengaluru, Karnataka, India. The company works in medical transcription, within the business outsourcing industry. It was incorporated on 08 December 2015 (11+ years old) and is registered under CIN U74900KA2015PTC084551.
Thar Worx reported revenue of ₹27.36 Cr for FY 2025 (down 70% YoY).
Thar Worx has 2 current directors:
- Kamalraj Chandrasekaran - Director
- Kamalraj Rekha - Director
Thar Worx reported a net loss of ₹5 Cr (net margin -18.3%) and EBITDA of -₹3.28 Cr (EBITDA margin -12%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Thar Worx is -25% over three years and 324% over five years. In the latest year (FY 2025) revenue fell 70%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Thar Worx is 29AABCW7432Q1ZK, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 36AABCW7432Q1ZP (Telangana), 37AABCW7432Q1ZN (Andhra Pradesh).
The CIN (Corporate Identification Number) of Thar Worx is U74900KA2015PTC084551. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Thar Worx was incorporated on 08 December 2015, making it 11+ years old. It is registered with the Registrar of Companies, Bangalore.
Thar Worx has 1 deal on record (1 secondary share transfer); the latest was in March 2021.
The peers of Thar Worx by revenue are Chirok Health India Private Limited, Fidelitas RCM Private Limited, Trivent Systems Private Limited, British Orient Infotel Private Limited, Med-Pro Health Care Services Private Limited and 5 more, all in the Outsourcing industry (Medical Transcription).
Kamalraj Chandrasekaran ceased to be Additional Director on 29 Sep 2024. Kamalraj Rekha ceased to be Additional Director on 29 Sep 2024. Charan Dharanesh ceased to be Director on 23 Mar 2024. Thar Worx has 8 board changes on record in total.
Thar Worx has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 12 overdue payments to 3 micro and small suppliers. The latest return was filed on 05 Jan 2024.