About Varun Mercantile Limited
Data last updated: 23 December 2025
Varun Mercantile Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in brokerage and trading services, a part of the broader financial services sector. Incorporated on 12 February 1985, the company has been in operation for over 41 years.
Registered with ROC Mumbai under CIN L51909MH1985PLC321068. Listed on BSE: 512511.
Capital: 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 Sanjay Tukaram More.
Last AGM: 30 September 2025. Financial statements filed for year ended 31 March 2025. Office: 147 14Th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021.
As per the financials filed for FY 2025, the company reported a revenue of ₹37.86 Lakh, a growth of 14% compared to the previous year.
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.
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Email*****@*****.com
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Telephone+91-****-******
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Website
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Social Media**************
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Registered Address147 14Th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021
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IndustryFinancial Services, Brokerage & Trading Services
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Varun Mercantile Limited
Varun Mercantile Limited 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 |
Associated Brands with Varun Mercantile Limited
Varun Mercantile Limited operates one associated brand: Varun Mercantile. These brands represent Varun Mercantile Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| It serves as a limited information available. | vml.org.in |
Competitors & Alternatives of Varun Mercantile Limited
Brands and companies operating in the same space as Varun Mercantile Limited include BSE India, NSE India, MSEI and 4 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
BSE India
|
Equities and securities are traded on India's oldest stock exchange. | Mumbai, India, India | 1875 |
NSE India
|
Stock exchange services including equities and derivatives are offered. | Mumbai, India, India | 1992 |
MSEI
|
National-level stock exchange offering electronic trading platforms for various financial instruments, including equity, derivatives, currency, debt, and SME platforms | Mumbai, India, India | 2008 |
StockHolding Corporation of India
|
Serves as a custodial service provider for listed securities. | Mumbai, India, India | 1986 |
India INX
|
Online stock trading is facilitated by India INX platform. | India | 2017 |
Finex Forex
|
Provides comprehensive foreign exchange and financial services for individuals and corporate clients. | Kochi, India, India | 2011 |
Rajgul Securities
|
Provides investment solutions, equity research, mutual fund advisory, and wealth management for individuals and institutions. | Delhi, India, India | 1956 |
Auditor Details of Varun Mercantile Limited
Varun Mercantile Limited is audited by N. J. Karia & Associates (ICAI peer reviewed, certificate valid till 2027-02-28) for the financial year 2026, as reported in its BSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| N. J. Karia & Associates (ICAI peer reviewed, certificate valid till 2027-02-28) | FY 2026 | Declaration of unmodified opinion |
Board of Directors of Varun Mercantile Limited
Varun Mercantile Limited is currently managed by 8 directors, with 18 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mehul Rajnikant Shah | Director | 03 Dec 2018 | 7 Years 7 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 1 Months | Current |
| Ambalal Tolchandji Jain | Director | 03 Dec 2018 | 7 Years 7 Months | Current |
| Deepak Aithappa Karkera | Cfo | 04 Sep 2019 | 6 Years 10 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 3 Months | Current |
Financials of Varun Mercantile Limited FY 2026 filings available
Varun Mercantile Limited reported revenue of ₹- (up ) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Income | ₹37.85 Lakh | ₹37.86 Lakh | ₹33.1 Lakh | ₹26 Lakh | ₹24.76 Lakh | ₹29.69 Lakh | ₹34.12 Lakh | ₹35.29 Lakh |
| Total Income | ₹37.85 Lakh | ₹37.86 Lakh | ₹33.1 Lakh | ₹26 Lakh | ₹24.76 Lakh | ₹29.69 Lakh | ₹34.12 Lakh | ₹35.29 Lakh |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹10.35 Lakh | ₹9.49 Lakh | ₹8.45 Lakh | ₹7.46 Lakh | ₹11.12 Lakh | ₹12.56 Lakh | ₹13.16 Lakh | ₹13.45 Lakh |
| Finance Costs | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Expenses | ₹5.49 Lakh | ₹5.8 Lakh | ₹6.34 Lakh | ₹4.89 Lakh | ₹4.85 Lakh | ₹5.03 Lakh | ₹5.05 Lakh | ₹5.24 Lakh |
| Total Expenses | ₹15.84 Lakh | ₹15.29 Lakh | ₹14.79 Lakh | ₹12.35 Lakh | ₹15.97 Lakh | ₹17.59 Lakh | ₹18.21 Lakh | ₹18.69 Lakh |
| Profit Before Exceptional Items & Tax | ₹22.01 Lakh | ₹22.57 Lakh | ₹18.31 Lakh | ₹13.65 Lakh | ₹8.79 Lakh | ₹12.1 Lakh | ₹15.91 Lakh | ₹16.6 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹22.01 Lakh | ₹22.57 Lakh | ₹18.31 Lakh | ₹13.65 Lakh | ₹8.79 Lakh | ₹12.1 Lakh | ₹15.91 Lakh | ₹16.6 Lakh |
| Total Tax Expense | ₹9.54 Lakh | ₹9.57 Lakh | ₹8.34 Lakh | ₹6.57 Lakh | ₹6.21 Lakh | ₹7.48 Lakh | ₹8.59 Lakh | ₹8.77 Lakh |
| Net Profit | ₹12.47 Lakh | ₹13 Lakh | ₹9.97 Lakh | ₹7.08 Lakh | ₹2.58 Lakh | ₹4.62 Lakh | ₹7.32 Lakh | ₹7.83 Lakh |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹12.47 Lakh | ₹13 Lakh | ₹9.97 Lakh | ₹7.08 Lakh | ₹2.58 Lakh | ₹4.62 Lakh | ₹7.32 Lakh | ₹7.83 Lakh |
| EBITDA (computed) | ₹22.01 Lakh | ₹22.57 Lakh | ₹18.31 Lakh | ₹13.65 Lakh | ₹8.79 Lakh | ₹12.1 Lakh | ₹15.91 Lakh | ₹16.6 Lakh |
| Basic EPS | ₹0.63 | ₹0.65 | ₹0.50 | ₹0.36 | ₹0.13 | ₹0.23 | ₹0.37 | ₹0.39 |
| Diluted EPS | ₹0.63 | ₹0.65 | ₹0.50 | ₹0.36 | ₹0.13 | ₹0.23 | ₹0.37 | ₹0.39 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹5.53 Cr | ₹5.4 Cr | ₹5.26 Cr | ₹5.17 Cr | ₹5.11 Cr | ₹5.18 Cr | ₹5.05 Cr | ₹4.99 Cr |
| Non-current Assets | ₹2.3 Cr | ₹5.5 Lakh | ₹5.5 Lakh | ₹5.5 Lakh | ₹5.51 Lakh | ₹5.51 Lakh | ₹5.36 Lakh | ₹5.37 Lakh |
| Current Assets | ₹3.23 Cr | ₹5.35 Cr | ₹5.21 Cr | ₹5.12 Cr | ₹5.05 Cr | ₹5.13 Cr | ₹5 Cr | ₹4.94 Cr |
| Property, Plant & Equipment | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Cash & Equivalents | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Equity (Net Worth) | ₹5.52 Cr | ₹5.39 Cr | ₹5.26 Cr | ₹5.16 Cr | ₹5.09 Cr | ₹5.07 Cr | ₹5.02 Cr | ₹4.95 Cr |
| Equity Share Capital | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr | ₹1.99 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Current Liabilities | ₹1.33 Lakh | ₹1.09 Lakh | ₹23,000 | ₹83,000 | ₹1.55 Lakh | ₹11.77 Lakh | ₹3.15 Lakh | ₹4.9 Lakh |
| Total Liabilities | ₹1.33 Lakh | ₹1.09 Lakh | ₹28,000 | ₹83,000 | ₹1.55 Lakh | ₹11.77 Lakh | ₹3.15 Lakh | ₹4.9 Lakh |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹39.06 Lakh | -₹23.23 Lakh | -₹27.35 Lakh | -₹20.15 Lakh | -₹31.05 Lakh |
| Investing Cash Flow | ₹37.85 Lakh | ₹88.07 Lakh | -₹17.11 Lakh | ₹26 Lakh | ₹24.76 Lakh |
| Financing Cash Flow | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Capital Expenditure | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Free Cash Flow (computed) | -₹39.06 Lakh | -₹23.23 Lakh | -₹27.35 Lakh | -₹20.15 Lakh | -₹31.05 Lakh |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | -₹1.21 Lakh | ₹64.84 Lakh | -₹44.46 Lakh | ₹5.85 Lakh | -₹6.29 Lakh |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Income | ₹9.44 Lakh | ₹9.05 Lakh | ₹9.62 Lakh | ₹9.75 Lakh | ₹9.63 Lakh | ₹9.72 Lakh | ₹9.56 Lakh | ₹8.95 Lakh |
| Total Income | ₹9.44 Lakh | ₹9.05 Lakh | ₹9.62 Lakh | ₹9.75 Lakh | ₹9.63 Lakh | ₹9.72 Lakh | ₹9.56 Lakh | ₹8.95 Lakh |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹2.5 Lakh | ₹2.38 Lakh | ₹3.43 Lakh | ₹2.04 Lakh | ₹2.33 Lakh | ₹2.26 Lakh | ₹2.06 Lakh | ₹2.84 Lakh |
| Finance Costs | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Expenses | ₹1.95 Lakh | ₹1.15 Lakh | ₹1.25 Lakh | ₹1.14 Lakh | ₹1.92 Lakh | ₹1.26 Lakh | ₹1.52 Lakh | ₹1.1 Lakh |
| Total Expenses | ₹4.45 Lakh | ₹3.53 Lakh | ₹4.68 Lakh | ₹3.18 Lakh | ₹4.25 Lakh | ₹3.52 Lakh | ₹3.58 Lakh | ₹3.94 Lakh |
| Profit Before Exceptional Items & Tax | ₹4.99 Lakh | ₹5.52 Lakh | ₹4.94 Lakh | ₹6.57 Lakh | ₹5.38 Lakh | ₹6.2 Lakh | ₹5.98 Lakh | ₹5.01 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹4.99 Lakh | ₹5.52 Lakh | ₹4.94 Lakh | ₹6.57 Lakh | ₹5.38 Lakh | ₹6.2 Lakh | ₹5.98 Lakh | ₹5.01 Lakh |
| Total Tax Expense | ₹2.38 Lakh | ₹2.28 Lakh | ₹2.42 Lakh | ₹2.46 Lakh | ₹2.46 Lakh | ₹2.43 Lakh | ₹2.42 Lakh | ₹2.26 Lakh |
| Net Profit | ₹2.61 Lakh | ₹3.24 Lakh | ₹2.52 Lakh | ₹4.11 Lakh | ₹2.92 Lakh | ₹3.77 Lakh | ₹3.56 Lakh | ₹2.75 Lakh |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹2.61 Lakh | ₹3.24 Lakh | ₹2.52 Lakh | ₹4.11 Lakh | ₹2.92 Lakh | ₹3.77 Lakh | ₹3.56 Lakh | ₹2.75 Lakh |
| EBITDA (computed) | ₹4.99 Lakh | ₹5.52 Lakh | ₹4.94 Lakh | ₹6.57 Lakh | ₹5.38 Lakh | ₹6.2 Lakh | ₹5.98 Lakh | ₹5.01 Lakh |
| Basic EPS | ₹0.13 | ₹0.16 | ₹0.13 | ₹0.21 | ₹0.15 | ₹0.19 | ₹0.18 | ₹0.14 |
| Diluted EPS | ₹0.13 | ₹0.16 | ₹0.13 | ₹0.21 | ₹0.15 | ₹0.19 | ₹0.18 | ₹0.14 |
Shareholding Pattern of Varun Mercantile Limited
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, retail and other public shareholders hold 100.00% of Varun Mercantile Limited. The company had 71 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | - | - | - | - | - | - |
| Public | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | - | - | - |
| Public | 100.00% | 100.00% | 100.00% |
| Promoter change (YoY, %pts) | - | - | - |
Charges & Borrowings Varun Mercantile Limited
Varun Mercantile Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Varun Mercantile Limited
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Employee Count & EPFO Data of Varun Mercantile Limited
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GST Compliance of Varun Mercantile Limited
GSTIN & GST Filing Data of Varun Mercantile Limited
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Credit Ratings, Litigation & Regulatory Alerts for Varun Mercantile Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Varun Mercantile Limited
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MSME Payment Delays by Varun Mercantile Limited
MSME Payment Delays by Varun Mercantile Limited
Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.
Subsidiaries & Group Companies of Varun Mercantile Limited
Subsidiaries & Group Companies of Varun Mercantile Limited
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MCA Filings & Documents of Varun Mercantile Limited
MCA Filings & Documents of Varun Mercantile Limited
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Recent Activity on Varun Mercantile Limited
Frequently Asked Questions about Varun Mercantile Limited
Varun Mercantile Limited is an active public limited company in the financial services sector based in Mumbai, Maharashtra, India. It was incorporated on 12 February 1985 (41+ years old) and is registered under CIN L51909MH1985PLC321068. Listed on BSE: 512511.
Varun Mercantile Limited reported revenue of ₹37.86 Lakh for FY 2025 (up 14.00% YoY).
The current directors of Varun Mercantile Limited are:
- Mehul Rajnikant Shah
- Sanjay Tukaram More
- Deepak Aithappa Karkera
- Yogesh Sopan Kadam
- Ambalal Tolchandji Jain
- Jyothi Anil Menon
- Daudayal Shankarlal Lakhani
- Piyush Oza
The primary industry of Varun Mercantile Limited is financial services. The company specifically operates in brokerage and trading services. The company is currently active in this sector.
Yes. Varun Mercantile Limited is listed on BSE with code 512511.
Varun Mercantile Limited can be reached at the registered office: 147 14Th Floor Atlanta Nariman Point, Mumbai, Maharashtra, India – 400021, or through the website vml.org.in.