About Trust Capital Services (India) Private Limited
Data last updated:
Trust Capital Services (India) Private Limited was a private limited company based in Mumbai, Maharashtra, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the brokerage and trading services segment of the financial services sector. It was incorporated on 20 June 1994.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U67120MH1994PTC079072. Its GSTIN is 27AABCT3654P1ZT (Maharashtra). The company held 7 GST registrations, all of them active.
The company had an authorised share capital of ₹2.5 Cr and a paid-up capital of ₹1 Cr. It was formerly known as Wishbone Finance & Investments Pvt Ltd. It was led by directors including Nisha Mehta Sandip and Nipa Utpal Sheth.
Its last annual general meeting (AGM) was held on 31 December 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at 109/110 Balarama 1st Floor Village Parigkhari Bandra Kurla Complex Bandra [East], Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2024, the company reported a revenue of ₹127.1 Cr, a decline of 15% compared to the previous year. For the same year it recorded a net profit of ₹70.54 Cr (net margin 55.5%) and EBITDA of ₹350.86 Cr (EBITDA margin 276.1%). Revenue has grown at a compounded annual rate (CAGR) of 14% over three years and 7% over five years.
The company had about 41 employees on its provident fund (EPFO) records before it was dissolved. Its group structure included 7 subsidiaries.
The company was associated with 2 brands: Trust Capital and TRUST. As per MCA filings, the company had open charges of ₹1,080.64 Cr and satisfied charges of ₹1,226 Cr on record. Court records list 3 cases involving the company, including 3 filed against it; 1 case is pending. The company has 2 deals on record (1 funding round, 1 debt financing), with disclosed funding of ₹200.06 Cr; the latest was in March 2024. Its 3 peer companies in the BFSI industry (Broking Services, Capital Services), with the same principal business activity (other financial activities) are compared by revenue, 1 larger and 2 smaller; the largest is Enam Holdings Private Limited with revenue of ₹518.55 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 4 overdue payments to 2 micro and small suppliers.
The last known website on record is trustgroup.in.
Company details
Contact details
Trust Capital Services (India) Private Limited's registered office is in Mumbai, Maharashtra. Its website is trustgroup.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address109/110 Balarama 1st Floor Village Parigkhari Bandra Kurla Complex Bandra [East], Mumbai, Maharashtra, India – 400051
- IndustryFinancial Services, Brokerage & Trading Services
To see the full contact details of Trust Capital Services (India) 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
Trust Capital Services (India) operates two associated brands: Trust Capital and TRUST. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Multiple sectors are invested in via fund of funds structure. | trustcapital.in | |
| Full-service corporate advisory is provided to businesses in India. | trustgroup.in |
Business activity
The main business activity of Trust Capital Services (India) 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 Trust Capital Services (India) Private Limited, buy the company report.
Financials of Trust Capital Services (India) Private Limited
FY 2024 filings availableTrust Capital Services (India) Private Limited reported revenue of ₹127.1 Cr (down 15% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 15% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 7%. EBITDA fell 15% 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 | ₹127.1 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹350.86 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹70.54 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 | 276.1% | ||||
| Net Profit Margin | 55.5% | ||||
| 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 Trust Capital Services (India) Private Limited, buy the company report.
Board of directors of Trust Capital Services (India) Private Limited
Trust Capital Services (India) has 3 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nisha Mehta Sandip | Director | 26 Jan 2001 | 25 Years 9 Months | As last reported |
| Nipa Utpal Sheth Also directs: Chanakya Value Creation LLP, Goldiam International Limited, Goldiam Jewellery Limited and 5 more | Director | 24 Sep 2001 | 25 Years 1 Months | As last reported |
| Abhishek Kumar Kedia Also directs: Trust Capital & Stock Brokers Private Limited, Trust Finpro Advisors Private Limited, Trust Amc Trustee Private Limited and 1 more | Director | 25 Mar 2015 | 11 Years 7 Months | As last reported |
Peer comparison
Trust Capital Services (India) Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Broking Services, Capital Services), 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 |
|---|---|---|---|---|---|---|
| Enam Holdings Private Limited | ₹518.55 Cr (FY 2025) | 171.0% | Mumbai, Maharashtra, India | |||
| Fortuity Investments Private Limited | ₹485.15 Cr (FY 2022) | -35.0% | Mumbai, Maharashtra, India | |||
| Adroit Share and Stock Broker Private Limited | ₹482.65 Cr (FY 2025) | -3.0% | Mumbai, Maharashtra, India | |||
| Trust Capital Services (India) Private Limitedthis company | ₹127.1 Cr (FY 2024) | ₹70.54 Cr | 55.5% | -15.0% | 41 | Mumbai, Maharashtra, India |
To see the full peer comparison of Trust Capital Services (India) Private Limited, buy the company report.
Auditor
Trust Capital Services (India) Private Limited is audited by M R TANNA & Co. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M R TANNA & Co. | FY 2024 | 121300W |
Shareholding
The shareholding of Trust Capital Services (India) Private Limited is on record for 5 financial years, the latest being FY 2024, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Trust Capital Services (India) Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Sep 2023 | 100799344 | Others | ₹50 Cr | Satisfied | |
| 28 Jul 2023 | 100765785 | Others | ₹50 Cr | Satisfied | |
| 24 May 2023 | 100737654 | Others | ₹90 Cr | Satisfied | |
| 18 Nov 2022 | 100698155 | Others | ₹25 Cr | Satisfied | |
| 27 Jun 2022 | 100592944 | Others | ₹50 Cr | Satisfied |
To see the full charge records of Trust Capital Services (India) Private Limited, buy the company report.
Total charge records: 21 View all charges
Deals & funding
Trust Capital Services (India) Private Limited has 2 deals on record (1 funding round, 1 debt financing), with disclosed funding of ₹200.06 Cr; the latest was in March 2024.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Debt financing | ₹200.01 Cr | Investors: Infibeam Avenues Limited , Sunrise Gilts & Securities Private Limited , Chanakya Corporate Services Private Limited |
| Mar 2010 | Funding round | ₹5 Lakh | Investors: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Trust Capital Services (India) Private Limited has 3 court cases on record: 3 filed against it. 1 case is pending and 2 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
| Supreme Court | 1 | 1 | 1 |
| NCLAT | 1 | 1 | 0 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1006-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Others) | Filed against the company by Shrem Investments Pvt. Ltd. 1101 Viraj Tower Junction of Andheri Kurla Road Western Express Highway Andheri East, Mumbai 400069 , , Other and 1 other | Pending |
| NCLAT, Chairperson Court | Tribunal matter | Filed against the company by an individual | Disposed |
| District court, South Twenty Four Parganas, West Bengal | Criminal complaint | Filed against the company by State of West Bengal | Disposed |
To see the full case history of Trust Capital Services (India) 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.
MSME payment delays
Trust Capital Services (India) Private Limited has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 4 overdue payments to 2 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 (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Wondrlab India Private Limited | |||
| Lakshya Computers |
To see the full MSME payment records of Trust Capital Services (India) Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Trust Capital Services (India) has 7 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Trust Securities Services Private Limited | U65929MH2016PTC287266 | |
| Trust Asset Management Private Limited | U65929MH2017PTC302677 | |
| Trust Amc Trustee Private Limited | U65929MH2017PTC302821 | |
| Sankhya Financial Services Private Limited | U65990MH2005PTC151407 | |
| Trust Capital & Stock Brokers Private Limited | U66120MH2023PTC399782 | |
| Trust Investment Advisors Private Limited | U67190MH2006PTC162464 |
To see the full group structure of Trust Capital Services (India) Private Limited, buy the company report.
Employees & EPFO
Trust Capital Services (India) Private Limited has a workforce of 41 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 41 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Trust Capital Services (India) Private Limited, buy the company report.
GST
Trust Capital Services (India) has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCT3654P1ZT | Maharashtra | Active | 01 Jul 2017 |
| 24AABCT3654P1ZZ | Gujarat | Active | 15 Aug 2017 |
| 19AABCT3654P1ZQ | West Bengal | Active | 17 Aug 2017 |
| 33AABCT3654P1Z0 | Tamil Nadu | Active | 18 Aug 2017 |
To see the full GST registrations and return filing status of Trust Capital Services (India) Private Limited, buy the company report.
Recent activity
Trust Capital Services (India) Private Limited has 3 board changes on record since 2001: 3 appointments. The latest: Abhishek Kumar Kedia was appointed as Director on 25 Mar 2015.
39 earlier events are in the company report.
News
Frequently asked questions
Trust Capital Services (India) has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Trust Capital Services (India) was a private limited company based in Mumbai, Maharashtra, India. The company worked in brokerage and trading services, within the financial services industry. It was incorporated on 20 June 1994 and is registered under CIN U67120MH1994PTC079072. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Trust Capital Services (India) was incorporated on 20 June 1994. It is registered with the Registrar of Companies, Mumbai.
Trust Capital Services (India) had 3 directors:
- Nisha Mehta Sandip - Director
- Nipa Utpal Sheth - Director
- Abhishek Kumar Kedia - Director
The CIN (Corporate Identification Number) of Trust Capital Services (India) is U67120MH1994PTC079072. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Trust Capital Services (India) is at 109110 Balarama 1st Floor Village Parigkhari Bandra Kurla Complex Bandra East, Mumbai, Maharashtra, India – 400051.
Trust Capital Services (India) can be reached through the website trustgroup.in. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Trust Capital Services (India) on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 31 December 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Trust Capital Services (India) is 27AABCT3654P1ZT, registered in Maharashtra. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 24AABCT3654P1ZZ (Gujarat), 19AABCT3654P1ZQ (West Bengal), 33AABCT3654P1Z0 (Tamil Nadu).
Trust Capital Services (India) operated in the financial services industry, in the brokerage and trading services segment.
Trust Capital Services (India) has 2 deals on record (1 funding round, 1 debt financing), with disclosed funding of ₹200.06 Cr; the latest was in March 2024.
The peers of Trust Capital Services (India) by revenue are Enam Holdings Private Limited, Fortuity Investments Private Limited, Adroit Share and Stock Broker Private Limited, all in the BFSI industry (Broking Services, Capital Services), with the same principal business activity (other financial activities).
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