Trusource Technology Private Limited

Trusource Technology Private Limited - fashion and textile in Nelamangala, Karnataka, India. FY 2026 financials & compliance.
CIN U72900KA2017PTC100728 Incorporated 21 February 2017 ROC Bangalore HQ Nelamangala, Karnataka, India
Active Private Limited Company fashion and textile DPIIT Startup MSME · Medium
Revenue · FY 2023
₹24.81 Cr
▲ 16% YoY
Net loss · FY 2023
₹17 Cr
Net margin -68.5%
EBITDA · FY 2023
-₹15.2 Cr
EBITDA margin -61.3%
Authorised capital
₹10 Lakh
Registered with MCA
Paid-up capital
₹6.27 Lakh
Issued & subscribed
Open charges
₹11.19 Cr
Satisfied ₹3 Cr
Company age
9 yrs
Est. 2017
Employees · EPFO
1
Provident fund records

About Trusource Technology Private Limited

Data last updated:

Trusource Technology Private Limited is a private limited company based in Nelamangala, Karnataka, India, recognised as a startup by DPIIT. It operates in the designer and branded fashion segment of the fashion and textiles sector. It was incorporated on 21 February 2017 and has been in existence for over 9 years.

The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2017PTC100728. Its GSTIN is 29AAGCT1141A1ZT (Karnataka). The company holds 8 GST registrations, all of them active.

The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹6.27 Lakh. It is led by directors Manoj Kumar Baranwal and Arun Paliwal.

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 Nelamangala, Karnataka.

As per the financials filed for FY 2023, the company reported a revenue of ₹24.81 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net loss of ₹17 Cr (net margin -68.5%) and EBITDA of -₹15.2 Cr (EBITDA margin -61.3%). Revenue has grown at a compounded annual rate (CAGR) of 149% over three years and 186% over five years.

The company has about 1 employee on its provident fund (EPFO) records.

The company is associated with 1 brand: RapidBox. As per MCA filings, the company has open charges of ₹11.19 Cr and satisfied charges of ₹3 Cr on record. Court records list 25 cases involving the company, including 25 filed against it; 19 cases are pending. The company has 14 deals on record (10 funding rounds, 2 secondary share transfers, 2 debt financings), with disclosed funding of ₹74.46 Cr; the latest was in September 2023. Its 9 peer companies in the same principal business activity (textile, leather and other apparel products) are compared by revenue, 5 larger and 4 smaller; the largest is Suprint Textiles (Jaipur) Private Limited with revenue of ₹24.83 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 216 overdue payments to 13 micro and small suppliers.

Trusource Technology Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0068409). The current compliance status is marked as compliant by the Registrar of Companies.

Company details

CIN U72900KA2017PTC100728
Registration Number 100728
Incorporation Date 21 February 2017
ROC Bangalore
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0068409
Key People
Manoj Kumar Baranwal Director Arun Paliwal Director

Recognitions & Rankings of Trusource Technology

DPIIT recognised startup Government of India
Startup India
MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-KR-03-0068409

Contact details

Trusource Technology Private Limited's registered office is in Nelamangala, Karnataka. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Social Media
  • Registered Address
    Survey No. 111/3 111/5 111/1 111/7 111/2 Budhihal Village, Kasaba Hobli, Nelamangala, Karnataka, India – 562123
  • Industry
    Fashion and Textile, Designer & Branded Fashion

To see the full contact details of Trusource Technology Private Limited, buy the company report.

Comprehensive company report
Trusource Technology 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

Trusource Technology operates one associated brand: RapidBox. Each brand links to its own profile.

BrandDescriptionWebsite
RapidBox
Multi-category fashion products and sneakers are sold online.rapidbox.in

Business activity

The main business activity of Trusource Technology is manufacturing. In detail, this covers textile, leather and other apparel products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC2Textile, leather and other apparel products

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

Financials of Trusource Technology Private Limited

FY 2023 filings available

Trusource Technology Private Limited reported revenue of ₹24.81 Cr (up 16% YoY) for FY 2023.

Revenue · FY 2023
₹24.81 Cr ▲ 16%
Net loss · FY 2023
₹17 Cr margin -68.5%
EBITDA · FY 2023
-₹15.2 Cr margin -61.3%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 16%
3 years · compounded
▲ 149%
5 years · compounded
▲ 186%
EBITDA CAGR growth
1 year
▼ 213%
3 years · compounded
▼ 62%
5 years · compounded
▼ 127%

Revenue has grown at a compounded annual rate (CAGR) of 186% over five years, including 16% growth in the latest year. EBITDA fell 213% 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₹24.81 Cr
Cost of Materials Consumed
Employee Benefit Expense
Finance Costs
Depreciation and Amortisation
Other Expenses
Total Expenses
EBITDA-₹15.2 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)-₹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-61.3%
Net Profit Margin-68.5%
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 Trusource Technology Private Limited, buy the company report.

Board of directors of Trusource Technology Private Limited

Trusource Technology has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Manoj Kumar BaranwalDirector02 Jan 20188 Years 10 MonthsCurrent
Arun PaliwalDirector21 Feb 20179 Years 8 MonthsCurrent
View all directors

Peer comparison

Trusource Technology Private Limited is compared with the 9 companies closest to it by revenue in the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Suprint Textiles (Jaipur) Private Limited₹24.83 Cr (FY 2025)25.0%Jaipur, Rajasthan, India
Chessline Apparels Private Limited₹24.81 Cr (FY 2025)1.0%Mumbai, Maharashtra, India
Ryder India Private Limited₹24.81 Cr (FY 2016)164.0%Delhi, India
Lakhpatraj Fashion Private Limited₹24.81 Cr (FY 2025)-7.0%Ahmedabad, Gujarat, India
Krislon Synthetics Private Limited₹24.81 Cr (FY 2025)14.0%Mumbai, Maharashtra, India
Trusource Technology Private Limitedthis company₹24.81 Cr (FY 2023)-₹17 Cr-68.5%16.0%1Nelamangala, Karnataka, India
Sreepriya Exports Private Limited₹24.8 Cr (FY 2025)13.0%Kolkata, West Bengal, India
Bunaai Whiteofficial Private Limited₹24.79 Cr (FY 2024)15.0%Jaipur, Rajasthan, India
Shree Ganesh Acro Yarns Private Limited₹24.78 Cr (FY 2025)-10.0%Punjab, India
Gitanjali Poly-Fab Private Limited₹24.77 Cr (FY 2025)29.0%Surat, Gujarat, India

To see the full peer comparison of Trusource Technology Private Limited, buy the company report.

Auditor

Trusource Technology Private Limited is audited by AJASAB for the financial year 2023.

Auditor firmFinancial yearFirm registration number
AJASABFY 2023247720

Shareholding

The shareholding of Trusource Technology 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 2022FY 2021FY 2020FY 2019
Promoters
Domestic institutional investors (DII)
Foreign institutional investors (FII)
Public
Others

To see the full shareholding pattern of Trusource Technology Private Limited, buy the company report.

Charges & borrowings

Open charges
₹11.19 Cr
Satisfied charges
₹3 Cr
Breakdown by lending institutions
Others₹11.00 Cr
The Hongkong and Shanghai Banking Corporation Limited₹0.15 Cr
Hdfc Bank Limited₹0.04 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
31 Jan 2024100871227Others₹1 CrOpen
06 Dec 2023100832084The Hongkong and Shanghai Banking Corporation Limited₹15 LakhOpen
30 Mar 2023100706851Others₹2 CrOpen
30 Mar 2023100706850Others₹1 CrOpen
24 Mar 2023100724146Others₹2 CrOpen

To see the full charge records of Trusource Technology Private Limited, buy the company report.

Total charge records: 9 View all charges

Deals & funding

Trusource Technology Private Limited has 14 deals on record (10 funding rounds, 2 secondary share transfers, 2 debt financings), with disclosed funding of ₹74.46 Cr; the latest was in September 2023.

Total deals
14
Funding rounds
10
Secondary share transfers
2
Debt financings
2
Disclosed funding
₹74.46 Cr

Deals on record (5 of 14)

WhenDealAmountParties
Mar 2023Funding round₹40,000Investors: Trifecta Capital
Dec 2021Debt financing₹1 CrInvestors: Blacksoil Group
Feb 2021Debt financing₹2 CrInvestors: Blacksoil Group
Oct 2020Secondary share transferUndisclosedBuyer: an individual
Seller: an individual
Jun 2019Funding round · Seed₹3.52 CrInvestors: India Quotient, Angel List, an individual

To see the full deal history of Trusource Technology 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

Trusource Technology Private Limited has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 216 overdue payments to 13 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 13)

SupplierAmount dueDue sinceReported on
an individual supplier
Swastik Polymers
Synpack Flexpack Private Limited
an individual supplier
an individual supplier

To see the full MSME payment records of Trusource Technology Private Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

Trusource Technology Private Limited has a workforce of 1 employees on its EPFO records as of Nov 2024, across 1 active EPFO establishment.

Employee count
1
Active EPFO establishments
1
Employee growth
-98.4%

Headcount by financial year

Financial yearEmployees (EPFO)
FY 2024-251
FY 2023-24
FY 2022-23
FY 2021-22
FY 2020-21
FY 2019-20

To see the full employee and EPFO history of Trusource Technology Private Limited, buy the company report.

GST

Trusource Technology has 8 GST registrations: 8 active. The first 4 active GSTINs are listed below.

Total GSTINs
8
Active
8
GSTINStateStatusRegistered on
29AAGCT1141A1ZTKarnatakaActive01 Jul 2017
09AAGCT1141A1ZVUttar PradeshActive29 Sep 2017
33AAGCT1141A1Z4Tamil NaduActive24 Jul 2020
36AAGCT1141A1ZYTelanganaActive04 Aug 2020

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

Recent activity

Trusource Technology Private Limited has 5 board changes on record since 2017: 2 appointments and 3 cessations. The latest: Krishna Reddy Pallala ceased to be Additional Director on 05 Dec 2019.

Charges
A charge with Others of Rs. 200.00 Lakh registered on 30 Mar 2023 with Charge ID 100706851 was modified on 19 Dec 2024.
Charges
A charge with Others amounted to Rs. 100.00 Lakh with Charge ID 100871227 was registered on 31 Jan 2024.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited amounted to Rs. 15.00 Lakh with Charge ID 100832084 was registered on 06 Dec 2023.
AGM
Trusource Technology Private Limited last Annual general meeting of members was held on 30 Sep 2023 as per latest MCA records.
Filing
Trusource Technology Private Limited has filed its annual Financial statements for the year ended 31 Mar 2023 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 100.00 Lakh with Charge ID 100706850 was registered on 30 Mar 2023.
Charges
A charge with Others amounted to Rs. 200.00 Lakh with Charge ID 100706851 was registered on 30 Mar 2023.
Charges
A charge with Others amounted to Rs. 200.00 Lakh with Charge ID 100724146 was registered on 24 Mar 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 4.00 Lakh with Charge ID 100721737 was registered on 08 Feb 2023.
Charges
A charge with Others amounted to Rs. 500.00 Lakh with Charge ID 100663899 was registered on 31 Dec 2022.
Charges
A charge registered on 15 Dec 2021 via Charge ID 100524718 with Others was fully satisfied on 26 Sep 2022.
Charges
A charge registered on 15 Feb 2021 via Charge ID 100428897 with Others was fully satisfied on 26 Sep 2022.

9 earlier events are in the company report.

News

Frequently asked questions

Trusource Technology is an active private limited company based in Nelamangala, Karnataka, India. The company works in designer and branded fashion, within the fashion and textile industry. It was incorporated on 21 February 2017 (9+ years old) and is registered under CIN U72900KA2017PTC100728.

Trusource Technology has 2 current directors:

The latest financial statements of Trusource Technology 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 Trusource Technology is 29AAGCT1141A1ZT, registered in Karnataka. The company has 8 GST registrations in all, of which 8 are active. Other active GSTINs include 09AAGCT1141A1ZV (Uttar Pradesh), 33AAGCT1141A1Z4 (Tamil Nadu), 36AAGCT1141A1ZY (Telangana).

The CIN (Corporate Identification Number) of Trusource Technology is U72900KA2017PTC100728. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Trusource Technology has 25 court cases on record: 25 filed against it. 19 are pending.

Trusource Technology was incorporated on 21 February 2017, making it 9+ years old. It is registered with the Registrar of Companies, Bangalore.

Trusource Technology has 14 deals on record (10 funding rounds, 2 secondary share transfers, 2 debt financings), with disclosed funding of ₹74.46 Cr; the latest was in September 2023.

The peers of Trusource Technology by revenue are Suprint Textiles (Jaipur) Private Limited, Chessline Apparels Private Limited, Ryder India Private Limited, Lakhpatraj Fashion Private Limited, Krislon Synthetics Private Limited and 4 more, all in the same principal business activity (textile, leather and other apparel products).

Krishna Reddy Pallala ceased to be Additional Director on 05 Dec 2019. Manoj Kumar Baranwal ceased to be Additional Director on 31 Dec 2018. Jhamkudevi ceased to be Director on 03 Jan 2018. Trusource Technology has 5 board changes on record in total.

Yes, Trusource Technology is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).

Yes, Trusource Technology is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0068409).