About Varun Mercantile Limited
Data last updated:
Varun Mercantile Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the brokerage and trading services segment of the financial services sector. It was incorporated on 12 February 1985 and has been in existence for over 41 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L51909MH1985PLC321068. It is a listed company as per MCA records. Its shares are listed on BSE: 512511.
The company has an authorised share capital of ₹3 Cr and a paid-up capital of ₹1.99 Cr. It is led by directors including Mehul Rajnikant Shah and Ambalal Tolchandji Jain.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 147 14th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021.
The net worth stands at ₹5.51 Cr (up 2.2% YoY). Total assets are valued at ₹5.52 Cr (up 2.4% YoY).
The company is associated with 1 brand: Varun Mercantile.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vml.org.in.
Company details
CIN history
Varun Mercantile has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L51909MH1985PLC321068, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L51909MH1985PLC321068 | Current |
| L51909DL1985PLC020108 | Previous |
| L99999DL1985PLC020108 | Previous |
Contact details
Varun Mercantile Limited's registered office is in Mumbai, Maharashtra. Its website is vml.org.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address147 14th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021
- IndustryFinancial Services, Brokerage & Trading Services
To see the full contact details of Varun Mercantile 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
Varun Mercantile operates one associated brand: Varun Mercantile. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| It serves as a limited information available. | vml.org.in |
Financials of Varun Mercantile Limited
FY 2025-26 filings availableVarun Mercantile Limited reported revenue of ₹- for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | (0.16) | (0.15) | (0.14) | (0.12) | (0.16) | (0.18) | (0.18) |
| Profit before tax | 0.22 | 0.23 | 0.19 | 0.14 | 0.09 | 0.12 | 0.16 |
| Net profit | 0.12 | 0.13 | 0.11 | 0.07 | 0.03 | 0.05 | 0.07 |
| EPS (₹) | 0.63 | 0.65 | 0.50 | 0.36 | 0.13 | 0.23 | 0.37 |
| Balance sheet | |||||||
| Total assets | 5.52 | 5.39 | 5.26 | 5.16 | 5.09 | 5.07 | 5.02 |
| Net worth | 5.51 | 5.39 | 5.26 | 5.16 | 5.09 | 5.06 | 5.02 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank | 0.00 | 0.01 | 4.55 | 4.99 | 4.94 | 5.00 | 4.85 |
| Net working capital | 3.21 | 5.33 | 4.71 | 5.10 | 5.04 | 5.01 | 4.97 |
| Cash flow | |||||||
| Cash from operations | (0.39) | (0.87) | (0.27) | (0.20) | (0.31) | (0.14) | (0.25) |
| Cash from investing | 0.38 | 0.88 | (0.17) | 0.26 | 0.25 | 0.30 | 0.34 |
| Cash from financing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other income | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Total expenses | 0.04 | 0.04 | 0.04 | 0.05 | 0.03 | 0.04 | 0.04 | 0.04 |
| EBITDA | (0.04) | (0.04) | (0.04) | (0.05) | (0.03) | (0.04) | (0.04) | (0.04) |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.05 | 0.05 | 0.05 | 0.05 | 0.07 | 0.06 | 0.06 | 0.06 |
| Tax | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other income | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Total expenses | 0.04 | 0.04 | 0.04 | 0.05 | 0.03 | 0.04 | 0.04 | 0.04 |
| EBITDA | (0.04) | (0.04) | (0.04) | (0.05) | (0.03) | (0.04) | (0.04) | (0.04) |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.05 | 0.05 | 0.05 | 0.05 | 0.07 | 0.06 | 0.06 | 0.06 |
| Tax | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other income | 0.38 | 0.38 | 0.33 | 0.26 | 0.25 | 0.30 | 0.34 |
| Total expenses | 0.16 | 0.15 | 0.14 | 0.12 | 0.16 | 0.18 | 0.18 |
| Employee cost | 0.00 | 0.09 | 0.08 | 0.07 | 0.11 | 0.13 | 0.13 |
| EBITDA | (0.16) | (0.15) | (0.14) | (0.12) | (0.16) | (0.18) | (0.18) |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.22 | 0.23 | 0.19 | 0.14 | 0.09 | 0.12 | 0.16 |
| Tax | 0.10 | 0.10 | 0.08 | 0.07 | 0.06 | 0.07 | 0.09 |
| Net profit | 0.12 | 0.13 | 0.11 | 0.07 | 0.03 | 0.05 | 0.07 |
| EPS (₹) | 0.63 | 0.65 | 0.50 | 0.36 | 0.13 | 0.23 | 0.37 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
| Reserves & surplus | 3.52 | 3.40 | 3.27 | 3.17 | 3.10 | 3.07 | 3.03 |
| Shareholders' funds (net worth) | 5.51 | 5.39 | 5.26 | 5.16 | 5.09 | 5.06 | 5.02 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total liabilities | 5.52 | 5.39 | 5.26 | 5.16 | 5.09 | 5.07 | 5.02 |
| Assets | |||||||
| Gross block | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net block | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank balances | 0.00 | 0.01 | 4.55 | 4.99 | 4.94 | 5.00 | 4.85 |
| Loans & advances | 3.22 | 5.33 | 0.16 | 0.12 | 0.12 | 0.13 | 0.15 |
| Total current assets | 3.22 | 5.34 | 4.71 | 5.11 | 5.06 | 5.13 | 5.00 |
| Total current liabilities | 0.01 | 0.01 | 0.00 | 0.01 | 0.02 | 0.12 | 0.03 |
| Net working capital | 3.21 | 5.33 | 4.71 | 5.10 | 5.04 | 5.01 | 4.97 |
| Total assets | 5.52 | 5.39 | 5.26 | 5.16 | 5.09 | 5.07 | 5.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.01 | 0.01 | 4.99 | 4.94 | 5.00 | 4.85 | 4.75 |
| Net cash from operating activities | (0.39) | (0.87) | (0.27) | (0.20) | (0.31) | (0.14) | (0.25) |
| Net cash from investing activities | 0.38 | 0.88 | (0.17) | 0.26 | 0.25 | 0.30 | 0.34 |
| Net cash from financing activities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net change in cash | (0.01) | 0.01 | (0.44) | 0.06 | (0.06) | 0.15 | 0.09 |
| Closing cash | 0.00 | 5.20 | 4.55 | 4.99 | 4.94 | 5.00 | 4.85 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| EBITDA growth | -6.7% | -7.1% | -16.7% | +25.0% | +11.1% | 0.0% | - |
| PBT growth | -4.4% | +21.1% | +35.7% | +55.6% | -25.0% | -25.0% | -5.9% |
| Net income growth | -7.7% | +18.2% | +57.1% | +133.3% | -40.0% | -28.6% | - |
| EBITDA CAGR (3Y) | +10.1% | -2.1% | -8.0% | -12.6% | -3.9% | +1.9% | -10.4% |
| Profitability & leverage | |||||||
| Return on capital employed | - | +4.3% | +3.5% | +2.7% | +1.8% | +2.4% | +3.2% |
| Return on net worth | - | +2.4% | +1.9% | +1.4% | +0.6% | +1.0% | +1.4% |
| Debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory turnover | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS (₹) | 0.63 | 0.65 | 0.50 | 0.36 | 0.13 | 0.23 | 0.37 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 27.07 | 26.41 | 25.91 | 25.56 | 25.43 | 25.20 |
To see the full year-wise statements and ratios of Varun Mercantile Limited, buy the company report.
Board of directors of Varun Mercantile Limited
Varun Mercantile has 4 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mehul Rajnikant Shah | Director | 03 Dec 2018 | 7 Years 10 Months | Current |
| Ambalal Tolchandji Jain | Director | 03 Dec 2018 | 7 Years 10 Months | Current |
| Sanjay Tukaram More Also directs: Radhe Vallabh Tradecom Private Limited, Symphony Impex (India) Pvt.Ltd., Padma Raga Commercials Private Limited and 1 more | Director | 10 May 2021 | 5 Years 5 Months | Current |
| Jyothi Anil Menon Also directs: Twin Roses Trades and Agencies Limited, Rewas Ports Limited, Sikka Ports & Terminals Limited and 1 more | Director | 31 Mar 2025 | 1 Years 6 Months | Current |
Peer comparison
Varun Mercantile Limited is compared with the 10 companies closest to it by revenue in the BFSI industry (Broking Services), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Aggresar Leasing and Finance Pvt Ltd | ₹38.01 Lakh (FY 2025) | -95.0% | Delhi, India | |||
| Pamas Holdings Private Limited | ₹37.99 Lakh (FY 2024) | -83.0% | Delhi, India | |||
| Ind Renewable Energy Limited | ₹37.96 Lakh (FY 2024) | Mumbai, Maharashtra, India | ||||
| Viewtrade International Ifsc Private Limited | ₹37.96 Lakh (FY 2025) | Gandhinagar, Gujarat, India | ||||
| Anksh Trading Private Limited | ₹37.92 Lakh (FY 2025) | 42415.0% | Mumbai, Maharashtra, India | |||
| E-Lex Solutions Private Limited | ₹37.8 Lakh (FY 2025) | 423.0% | Kolkata, West Bengal, India | |||
| Amarkantak Mercantile Company Private Limited | ₹37.69 Lakh (FY 2025) | 237.0% | Thane, Maharashtra, India | |||
| Tapovon Learning Private Limited | ₹37.67 Lakh (FY 2025) | -62.0% | Kolkata, West Bengal, India | |||
| Moneyarm Financial Services Private Limited | ₹37.6 Lakh (FY 2025) | 66.0% | Jaipur, Rajasthan, India | |||
| Modest Capital Services Private Limited | ₹37.58 Lakh (FY 2024) | 917.0% | New Delhi, Delhi, India |
To see the full peer comparison of Varun Mercantile Limited, buy the company report.
Auditor
Varun Mercantile Limited is audited by PRITI V. MEHTA & COMPANY for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PRITI V. MEHTA & COMPANY | FY 2023 | 129568W |
Shareholding
Shareholding for the quarter ended Mar 2026: promoters hold 0.00%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 100.00%.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|
| Promoters | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 100.00% | 100.00% | 100.00% | 100.00% |
Legal cases
No court or tribunal cases involving Varun Mercantile 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 Varun Mercantile 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 Varun Mercantile Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Varun Mercantile Limited has 28 board changes on record since 1991: 17 appointments and 11 cessations. The latest: Piyush Oza was appointed as Company Secretary on 23 Jul 2025.
19 earlier events are in the company report.
Frequently asked questions
Varun Mercantile is an active public limited company based in Mumbai, Maharashtra, India. The company works in brokerage and trading services, within the financial services industry. It was incorporated on 12 February 1985 (41+ years old) and is registered under CIN L51909MH1985PLC321068. Listed on BSE: 512511.
Varun Mercantile has 4 current directors:
- Mehul Rajnikant Shah - Director
- Ambalal Tolchandji Jain - Director
- Sanjay Tukaram More - Director
- Jyothi Anil Menon - Director
The latest financial statements of Varun Mercantile on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Varun Mercantile is L51909MH1985PLC321068. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Varun Mercantile is a listed company as per MCA records. Its shares are listed on BSE (code: 512511).
Varun Mercantile was incorporated on 12 February 1985, making it 41+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Varun Mercantile by revenue are Aggresar Leasing and Finance Pvt Ltd, Pamas Holdings Private Limited, Ind Renewable Energy Limited, Viewtrade International Ifsc Private Limited, Anksh Trading Private Limited and 5 more, all in the BFSI industry (Broking Services).
Piyush Oza was appointed as Company Secretary on 23 Jul 2025. Jyothi Anil Menon was appointed as Director on 31 Mar 2025. Lopamudra Dixit ceased to be Director on 29 Mar 2025. Varun Mercantile has 28 board changes on record in total.
Varun Mercantile can be reached through the website vml.org.in. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Varun Mercantile is at 147 14th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021.
Varun Mercantile operates in the financial services industry, in the brokerage and trading services segment.