About True Credits Private Limited
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True Credits Private Limited is a private limited company based in Gurgaon, Haryana, India, a subsidiary of Balancehero India Private Limited. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 05 September 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U65190HR2017PTC070653. Its GSTIN is 06AAGCT4180P1ZT (Haryana).
The company has an authorised share capital of ₹21.6 Cr and a paid-up capital of ₹20.38 Cr. It is led by directors including Vishal Bhatia (Managing Director) and Cheolwon Lee (Managing Director).
Its last annual general meeting (AGM) was held on 27 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at HUDA City Centre Metro Station 5th Floor Sector – 29, Gurgaon, Haryana, India – 122001.
As per the financials filed for FY 2024, the company reported a revenue of ₹669.88 Cr, a growth of 81% compared to the previous year. For the same year it recorded a net profit of ₹36.53 Cr (net margin 5.5%) and EBITDA of ₹117.5 Cr (EBITDA margin 17.5%). Revenue has grown at a compounded annual rate (CAGR) of 127% over three years and 474% over five years.
The company has about 91 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: True Credits and True Balance. As per MCA filings, the company has open charges of ₹2,339.5 Cr and satisfied charges of ₹2,442.2 Cr on record. Court records list 124 cases involving the company, including 3 filed by the company and 121 filed against it; 81 cases are pending. The company has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024. Its 5 peer companies in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 2 smaller; the largest is Kinara Capital Private Limited with revenue of ₹692.13 Cr. The company has 3 MSME Form 1 returns on record between 2023 and 2024, listing 5 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 truecredits.in.
Company details
Contact details
True Credits Private Limited's registered office is in Gurgaon, Haryana. Its website is truecredits.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressHUDA City Centre Metro Station 5th Floor Sector – 29, Gurgaon, Haryana, India – 122001
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of True Credits Private Limited, buy the company report.
- 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
Brands
True Credits operates two associated brands: True Credits and True Balance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of an app-based platform for personal loans and investment products | truecredits.in | |
| Personal loans and prepaid instruments are provided via mobile wallet. | truebalance.io |
Business activity
The main business activity of True Credits 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 True Credits Private Limited, buy the company report.
Financials of True Credits Private Limited
FY 2025 filings availableTrue Credits Private Limited reported revenue of ₹669.88 Cr (up 81% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 474% over five years, including 81% 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 | ₹669.88 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹117.5 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹36.53 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Investments | |||||
| Inventories | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 17.5% | ||||
| Net Profit Margin | 5.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of True Credits Private Limited, buy the company report.
Board of directors of True Credits Private Limited
True Credits has 6 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vishal Bhatia | Managing Director | 14 Nov 2020 | 5 Years 11 Months | Current |
| Shunmugam Sundararaj | Director | 28 May 2021 | 5 Years 4 Months | Current |
| Cheolwon Lee | Managing Director | 05 Sep 2017 | 9 Years 1 Months | Current |
| Padmaja Makarand Parange Also directs: SNP Core Advisors LLP, Sustain Edge Esg LLP | Director | 01 Sep 2024 | 2 Years 1 Months | Current |
| Anand Jethalia | Director | 01 Aug 2024 | 2 Years 2 Months | Current |
| Anupam Vasdani Also directs: Balancehero India Private Limited | Additional Director | 12 Dec 2025 | 0 Years 10 Months | Current |
Peer comparison
True Credits Private Limited is compared with the 5 companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), 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 |
|---|---|---|---|---|---|---|
| Kinara Capital Private Limited | ₹692.13 Cr (FY 2025) | -4.0% | Bangalore, Karnataka, India | |||
| Sherya Portfolio Private Limited | ₹678.85 Cr (FY 2025) | 65.0% | Delhi, India | |||
| Stci Primary Dealer Limited | ₹670.73 Cr (FY 2019) | 51.0% | Mumbai, Maharashtra, India | |||
| True Credits Private Limitedthis company | ₹669.88 Cr (FY 2024) | ₹36.53 Cr | 5.5% | 81.0% | 91 | Gurgaon, Haryana, India |
| Tutex Trade & Investments Limited | ₹645.66 Cr (FY 2025) | 12.0% | Kolkata, West Bengal, India | |||
| Sudha Commercial Co Ltd | ₹623.66 Cr (FY 2025) | 69.0% | Kolkata, West Bengal, India |
To see the full peer comparison of True Credits Private Limited, buy the company report.
Auditor
True Credits Private Limited is audited by Dewan P.N. Chopra & Co. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Dewan P.N. Chopra & Co. | FY 2024 | 000472N |
Shareholding
The shareholding of True Credits 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 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 True Credits Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Nov 2025 | 101203344 | Others | ₹25 Cr | Open | |
| 03 Nov 2025 | 101182798 | Others | ₹35 Cr | Open | |
| 29 Oct 2025 | 101183826 | Others | ₹12 Cr | Open | |
| 23 Oct 2025 | 101179575 | Others | ₹6 Cr | Open | |
| 16 Oct 2025 | 101192770 | Others | ₹40 Cr | Open |
To see the full charge records of True Credits Private Limited, buy the company report.
Total charge records: 199 View all charges
Deals & funding
True Credits Private Limited has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024.
Deals on record (5 of 23)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2024 | Debt financing | ₹20 Cr | Investors: VentureSoul Partners |
| Jul 2024 | Debt financing | ₹10 Cr | Investors: RevX Capital |
| May 2024 | Debt financing | ₹97.5 Cr | Investors: SK Finance Limited , Credavenue Private Limited , InCred Alternatives Investments |
| Jan 2024 | Debt financing | ₹60 Cr | Investors: Credavenue Private Limited , Np1 Capital Trust, RevX Capital |
| Oct 2023 | Debt financing | ₹50 Cr | Investors: SK Finance Limited , Oxy Ventures Private Limited , RevX Capital |
To see the full deal history of True Credits Private 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
True Credits Private Limited has 124 court cases on record: 3 filed by True Credits, 121 filed against it. 81 cases are pending and 43 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 106 | 104 | 80 |
| High courts | 18 | 17 | 1 |
Cases on record (5 of 124)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Coimbatore, Tamil Nadu | Court case (IP) | Filed against the company by an individual | Pending |
| District court, East Godavari, Andhra Pradesh | Civil suit | Filed against the company by an individual | Pending |
| District court, Chennai, Tamil Nadu | Civil suit | Filed against the company by an individual | Pending |
| District court, Coimbatore, Tamil Nadu | Civil suit | Filed against the company by an individual | Pending |
| District court, West Godavari, Andhra Pradesh | Court case (IP) | Filed against the company | Pending |
To see the full case history of True Credits Private 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.
Credit ratings & regulatory alerts
True Credits Private Limited was last rated by Care on 26 Aug 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 26 Aug 2022 |
To see the full credit ratings and regulatory alerts of True Credits Private Limited, buy the company report.
MSME payment delays
True Credits Private Limited has 3 MSME Form 1 returns on record between 2023 and 2024, listing 5 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 |
|---|---|---|---|
| Pinnacle Tele Services Private Limited | |||
| Affipedia Digital Private Limited | |||
| Shivtel Communications Private Limited |
To see the full MSME payment records of True Credits Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
True Credits Private Limited has a workforce of 91 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
True Credits has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAGCT4180P1ZT | Haryana | Active | 28 Dec 2017 |
To see the full GST registrations and return filing status of True Credits Private Limited, buy the company report.
Recent activity
True Credits Private Limited has 16 board changes on record since 2017: 6 appointments and 10 cessations. The latest: Anupam Vasdani was appointed as Additional Director on 12 Dec 2025.
347 earlier events are in the company report.
Frequently asked questions
True Credits is an active private limited company based in Gurgaon, Haryana, India. The company works in nbfc, within the financial services industry. It was incorporated on 05 September 2017 (9+ years old) and is registered under CIN U65190HR2017PTC070653.
True Credits has 6 current directors:
- Vishal Bhatia - Managing Director
- Cheolwon Lee - Managing Director
- Shunmugam Sundararaj - Director
- Padmaja Makarand Parange - Director
- Anand Jethalia - Director
- Anupam Vasdani - Additional Director
The latest financial statements of True Credits on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 27 August 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of True Credits is 06AAGCT4180P1ZT, registered in Haryana.
The CIN (Corporate Identification Number) of True Credits is U65190HR2017PTC070653. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
True Credits has 124 court cases on record: 3 filed by the company and 121 filed against it. 81 are pending. Most are in the district courts.
True Credits was incorporated on 05 September 2017, making it 9+ years old. It is registered with the Registrar of Companies, Delhi.
True Credits has 23 deals on record (14 debt financings, 7 rights issues, 2 acquisitions), with disclosed funding of ₹339.6 Cr; the latest was in October 2024.
The peers of True Credits by revenue are Kinara Capital Private Limited, Sherya Portfolio Private Limited, Stci Primary Dealer Limited, Tutex Trade & Investments Limited, Sudha Commercial Co Ltd, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).
Anupam Vasdani was appointed as Additional Director on 12 Dec 2025. Cheolwon Lee ceased to be Director on 15 Jul 2025. Padmaja Makarand Parange ceased to be Additional Director on 30 Sep 2024. True Credits has 16 board changes on record in total.
True Credits has 3 MSME Form 1 returns on record between 2023 and 2024, listing 5 overdue payments to 3 micro and small suppliers. The latest return was filed on 30 Apr 2024.
True Credits can be reached through the website truecredits.in. Its registered office is in Gurgaon, Haryana, India.