Varni Microfinance Private Limited
About Varni Microfinance Private Limited
Data last updated:
Varni Microfinance Private Limited was a private limited company based in Udupi, Karnataka, India. The company has been struck off by the Registrar of Companies, typically due to non-filing of annual returns or failure to commence business. It is no longer operational and cannot enter into any legal contracts or agreements. It operated in the consultancy services segment of the financial services sector. It was incorporated on 21 January 2011.
The company was registered with the Registrar of Companies (ROC), Bangalore, under CIN U67190KA2011PTC056761.
The company had an authorised share capital of ₹2.5 Cr and a paid-up capital of ₹30 Lakh. It was formerly known as Varni Capital and Financial Services Private Limited. It was led by directors Sudhish Nayak (Managing Director) and Savitha Nayak.
Its last annual general meeting (AGM) was held on 28 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office was at No.11 3rd Floor Maithri Complex Near Service Bus Stand, Udupi, Karnataka, India – 576101.
As per the financials filed for FY 2019, the company reported a revenue of ₹1.14 Lakh, a growth of 18% compared to the previous year. For the same year it recorded a net loss of ₹5.17 Lakh (net margin -451.2%) and EBITDA of -₹5.04 Lakh (EBITDA margin -439.8%). Revenue has declined at a compounded annual rate (CAGR) of 72% over three years.
Company details
Contact details
Varni Microfinance Private Limited's registered office is in Udupi, Karnataka. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressNo.11 3rd Floor Maithri Complex Near Service Bus Stand, Udupi, Karnataka, India – 576101
- IndustryFinancial Services, Consultancy, Advisory, Financial Brokerage
To see the full contact details of Varni Microfinance 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
Business activity
The main business activity of Varni Microfinance is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K7 | Financial Advisory, brokerage and Consultancy Services |
Financials of Varni Microfinance Private Limited
FY 2019 filings availableVarni Microfinance Private Limited reported revenue of ₹1.14 Lakh (up 18% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue rose 18% in the latest year, though over three years it has declined at a compounded annual rate (CAGR) of 72%. EBITDA fell 143% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| EBITDA | -₹5.04 Lakh | ||||
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| Net Profit (PAT) | -₹5.17 Lakh | ||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| EBITDA Margin | -439.8% | ||||
| Net Profit Margin | -451.2% | ||||
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To see the full financial statements and ratios of Varni Microfinance Private Limited, buy the company report.
Board of directors of Varni Microfinance Private Limited
Varni Microfinance has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Savitha Nayak Also directs: Chathurthi Chits Private Limited | Director | 28 Feb 2011 | 15 Years 7 Months | As last reported |
| Sudhish Nayak Also directs: Chathurthi Chits Private Limited | Managing Director | 18 Oct 2012 | 14 Years 0 Months | As last reported |
Peer comparison
Varni Microfinance Private Limited is compared with the 10 companies closest to it by revenue in the same principal business activity (financial advisory, brokerage and consultancy services), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Devrada Imf Private Limited | ₹1.15 Lakh (FY 2025) | -73.0% | Delhi, India | |||
| Twenty Twenty Cleantech Capital and Advisory Private Limited | ₹1.15 Lakh (FY 2016) | -85.0% | New Delhi, Delhi, India | |||
| Ferns Equity Advisors Private Limited | ₹1.15 Lakh (FY 2025) | -84.0% | New Delhi, Delhi, India | |||
| Utkal Capital Private Limited | ₹1.15 Lakh (FY 2024) | 202.0% | Kujang, Odisha, India | |||
| Valyu AI Private Limited | ₹1.15 Lakh (FY 2022) | Delhi, India | ||||
| Varni Microfinance Private Limitedthis company | ₹1.14 Lakh (FY 2019) | -₹5.17 Lakh | -451.2% | 18.0% | Udupi, Karnataka, India | |
| Sunidhi Wealth Advisors Private Limited | ₹1.14 Lakh (FY 2016) | -97.0% | Mumbai, Maharashtra, India | |||
| Oasis Vanijya Private Limited | ₹1.14 Lakh (FY 2025) | -40.0% | Kolkata, West Bengal, India | |||
| Vertex India Venture Advisory Private Limited | ₹1.14 Lakh (FY 2022) | 18.0% | Bangalore, Karnataka, India | |||
| Kick Start Finserv Private Limited | ₹1.14 Lakh (FY 2022) | -92.0% | Pune, Maharashtra, India | |||
| Maharwal Nidhi Limited | ₹1.14 Lakh (FY 2023) | 14.0% | Jaipur, Rajasthan, India |
To see the full peer comparison of Varni Microfinance Private Limited, buy the company report.
Auditor
Varni Microfinance Private Limited is audited by AGALIGOPALAKRISHNACHANDRASHEKAR for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| AGALIGOPALAKRISHNACHANDRASHEKAR | FY 2017 | 029950 |
Shareholding
The shareholding of Varni Microfinance Private Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
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| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
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To see the full shareholding pattern of Varni Microfinance Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving Varni Microfinance Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Varni Microfinance Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Varni Microfinance Private Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Varni Microfinance Private Limited has 5 board changes on record since 2011: 2 appointments and 3 cessations. The latest: Usha Nayak ceased to be Director on 22 May 2018.
Frequently asked questions
Varni Microfinance has a status of "Struck Off" as per MCA records. This means the company has been officially removed from the Register of Companies, typically due to non-filing of annual returns or failure to commence business within one year of incorporation. A struck-off company cannot enter into any legal contracts or agreements, and any dealings with such an entity carry significant legal and financial risk.
Varni Microfinance was a private limited company based in Udupi, Karnataka, India. The company worked in consultancy, within the financial services industry. It was incorporated on 21 January 2011 and is registered under CIN U67190KA2011PTC056761. The company has been struck off by the Registrar of Companies and is no longer operational.
Varni Microfinance had 2 directors:
- Sudhish Nayak - Managing Director
- Savitha Nayak - Director
The CIN (Corporate Identification Number) of Varni Microfinance is U67190KA2011PTC056761. 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 Varni Microfinance is at No.11 3rd Floor Maithri Complex Near Service Bus Stand, Udupi, Karnataka, India – 576101.
Varni Microfinance was incorporated on 21 January 2011. It is registered with the Registrar of Companies, Bangalore.
The latest financial statements of Varni Microfinance on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 28 September 2019. Year-wise statements from 2015 are in the company report.
Varni Microfinance operated in the financial services industry, in the consultancy segment. It worked in this industry before it was struck off.
The peers of Varni Microfinance by revenue are Devrada Imf Private Limited, Twenty Twenty Cleantech Capital and Advisory Private Limited, Ferns Equity Advisors Private Limited, Utkal Capital Private Limited, Valyu AI Private Limited and 5 more, all in the same principal business activity (financial advisory, brokerage and consultancy services).
Usha Nayak ceased to be Director on 22 May 2018. Sudhish Nayak was appointed as Managing Director on 18 Oct 2012. Savitha Nayak ceased to be Managing Director on 17 Oct 2012. Varni Microfinance has 5 board changes on record in total.
The compliance status of Varni Microfinance is compliant as of 09 July 2026.