MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-KR-03-0023213
VBL Innovations Private Limited - consumer goods in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹34.76 Cr
▼ 29% YoY
Net loss · FY 2025
₹3.89 Cr
Net margin -11.2%
EBITDA · FY 2025
-₹2.03 Cr
EBITDA margin -5.8%
Authorised capital
₹12 Cr
Registered with MCA
Paid-up capital
₹7.5 Cr
Issued & subscribed
Open charges
₹43.41 Cr
Satisfied ₹22.84 Cr
Company age
32 yrs
Est. 1994
Employees · EPFO
206
Provident fund records
About VBL Innovations Private Limited
Data last updated:
VBL Innovations Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the leather goods manufacturing segment of the consumer goods sector. It was incorporated on 16 November 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA1994PTC016562. Its GSTIN is 29AAACV4827H1Z4 (Karnataka). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹12 Cr and a paid-up capital of ₹7.5 Cr. It was formerly known as Vardhan Banda Ltd and Vbl Innovations Limited. It is led by directors including Harsh Vardhan Bhuwalka (Managing Director) and Kumaresh Bhuwalka (Whole-Time Director).
Its last annual general meeting (AGM) was held on 16 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 2nd Floor No. 17 5th Main Phase III, Peenya Industrial Area Bangalore, Karnataka, India – 560058.
As per the financials filed for FY 2025, the company reported a revenue of ₹34.76 Cr, a decline of 29% compared to the previous year. For the same year it recorded a net loss of ₹3.89 Cr (net margin -11.2%) and EBITDA of -₹2.03 Cr (EBITDA margin -5.8%). Revenue has declined at a compounded annual rate (CAGR) of 7% over three years and 8% over five years.
The company has about 206 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: VBL Innovations. As per MCA filings, the company has open charges of ₹43.41 Cr and satisfied charges of ₹22.84 Cr on record. Court records list 8 cases involving the company, including 6 filed by the company and 2 filed against it. The company has 5 deals on record (5 secondary share transfers); the latest was in March 2024. The company has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 80 overdue payments to 18 micro and small suppliers.
VBL Innovations Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0023213). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vblinnovations.com.
Company details
CIN U85110KA1994PTC016562
Registration Number 016562
Incorporation Date 16 November 1994
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 16 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-KR-03-0023213
Name history
VBL Innovations has undergone 3 name changes throughout its history. The company was previously known as Vardhan Banda Ltd, Vbl Innovations Limited, and Vardhan Banda P Ltd. The current legal name is Vbl Innovations Private Limited.
| Company Name | Status |
|---|---|
| VBL Innovations Private Limited | Current |
| Vardhan Banda Ltd | Previous |
| Vbl Innovations Limited | Previous |
| Vardhan Banda P Ltd | Previous |
CIN history
VBL Innovations has one previous CIN (Corporate Identification Number): U85110KA1994PLC016562. The current CIN is U85110KA1994PTC016562, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85110KA1994PTC016562 | Current |
| U85110KA1994PLC016562 | Previous |
Key People
Harsh Vardhan Bhuwalka Managing Director Kumaresh Bhuwalka Whole-Time Director Yashovardhan Saboo Director Recognitions & Rankings of VBL Innovations
Contact details
VBL Innovations Private Limited's registered office is in Bangalore, Karnataka. Its website is vblinnovations.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2nd Floor No. 17 5th Main Phase III, Peenya Industrial Area Bangalore, Karnataka, India – 560058
- IndustryConsumer Goods, Leather Goods Manufacturing
To see the full contact details of VBL Innovations Private Limited, buy the company report.
Comprehensive company report
VBL Innovations 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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Secure checkout · GST invoice included
Brands
VBL Innovations operates one associated brand: VBL Innovations. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufactures watch straps, packaging, and leather goods for global watch brands. | vblinnovations.com |
Business activity
The main business activity of VBL Innovations is manufacturing. In detail, this covers other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities |
To see the full business activity and turnover split of VBL Innovations Private Limited, buy the company report.
Financials of VBL Innovations Private Limited
FY 2025 filings availableVBL Innovations Private Limited reported revenue of ₹34.76 Cr (down 29% YoY) for FY 2025.
Revenue · FY 2025
₹34.76 Cr ▼ 29%
Net loss · FY 2025
₹3.89 Cr margin -11.2%
EBITDA · FY 2025
-₹2.03 Cr margin -5.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 29%
3 years · compounded
▼ 7%
5 years · compounded
▼ 8%
EBITDA CAGR growth
1 year
▼ 172%
3 years · compounded
▼ 44%
5 years · compounded
▼ 48%
Revenue has declined at a compounded annual rate (CAGR) of 8% over five years, including a 29% fall in the latest year. EBITDA fell 172% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | -₹2.03 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹3.89 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -5.8% | ||||
| Net Profit Margin | -11.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of VBL Innovations Private Limited, buy the company report.
Board of directors of VBL Innovations Private Limited
VBL Innovations has 5 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kumaresh Bhuwalka Also directs: VBL Designs Private Limited, Sapid Designs Private Limited | Whole-Time Director | 22 Aug 2024 | 2 Years 2 Months | Current |
| Yashovardhan Saboo | Director | 16 Nov 1994 | 31 Years 11 Months | Current |
| Harsh Vardhan Bhuwalka | Managing Director | 01 Aug 2008 | 18 Years 2 Months | Current |
| Viswanadh Kasi Yamujala | Director | 27 Jul 2005 | 21 Years 3 Months | Current |
| Vijay Tadimalla | Director | 23 Oct 2024 | 2 Years 0 Months | Current |
Auditor
VBL Innovations Private Limited is audited by NAROTTAM CHITRANJAN AND CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| NAROTTAM CHITRANJAN AND CO | FY 2023 | 011251N/N500364 |
Shareholding
The shareholding of VBL Innovations 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 category | FY 2023 | FY 2022 | FY 2021 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of VBL Innovations Private Limited, buy the company report.
Charges & borrowings
Open charges
₹43.41 Cr
Satisfied charges
₹22.84 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Oct 2023 | 100809140 | Hdfc Bank Limited | ₹37.04 Lakh | Open | |
| 02 Sep 2023 | 100793251 | Hdfc Bank Limited | ₹22 Cr | Open | |
| 04 Nov 2022 | 100671354 | Hdfc Bank Limited | ₹85.8 Lakh | Open | |
| 15 Oct 2015 | 10599624 | Others | ₹20.18 Cr | Open | |
| 17 Feb 2022 | 100563968 | Hdfc Bank Limited | ₹35 Lakh | Satisfied |
To see the full charge records of VBL Innovations Private Limited, buy the company report.
Total charge records: 15 View all charges
Deals & funding
VBL Innovations Private Limited has 5 deals on record (5 secondary share transfers); the latest was in March 2024.
Total deals
5
Secondary share transfers
5
Deals on record (5 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: Rajendra Kumar Saboo Huf, an individual |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| Aug 2013 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Aug 2011 | Secondary share transfer | Undisclosed | Buyer: Harsh Vardhan Bhuwalka Huf, Anand Vardhan Bhuwalka Huf, 2 individuals Seller: KDDL Limited , 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
VBL Innovations Private Limited has 8 court cases on record: 6 filed by VBL Innovations, 2 filed against it. All cases are disposed.
Total cases
8
Filed by the company
6
Filed against the company
2
Disposed
8
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 2 | 0 |
| District courts | 3 | 0 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Conzumex Industries Pvt Ltd | Disposed |
| High Court, KARNATAKA | Court case (CCC) | Filed by the company against M/S Kssidc Ltd and 1 other | Disposed |
| High Court of Karnataka | Appeal | Filed against the company by M/S Kssidc Ltd., | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against M/S Multivision and 1 other | Disposed |
| High Court of Karnataka | Writ petition | Filed by the company against M/S K S S I D C Limited | Disposed |
To see the full case history of VBL Innovations 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.
Credit ratings & regulatory alerts
VBL Innovations Private Limited was last rated by Crisil on 03 Jul 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 03 Jul 2020 |
To see the full credit ratings and regulatory alerts of VBL Innovations Private Limited, buy the company report.
MSME payment delays
VBL Innovations Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 80 overdue payments to 18 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 18)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| T-Prints Fab Packaging Private Limited | |||
| JD Traders | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of VBL Innovations Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
VBL Innovations has 1 subsidiary company and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| VBL Designs Private Limited | U19129KA2016PTC086035 |
To see the full group structure of VBL Innovations Private Limited, buy the company report.
Employees & EPFO
VBL Innovations Private Limited has a workforce of 206 employees on its EPFO records as of Mar 23, 2024, across 2 active EPFO establishments.
Employee count
206
Active EPFO establishments
2
Employee growth
-10.04%
GST
VBL Innovations has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACV4827H1Z4 | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of VBL Innovations Private Limited, buy the company report.
Recent activity
VBL Innovations Private Limited has 8 board changes on record since 1994: 5 appointments and 3 cessations. The latest: Vijay Tadimalla ceased to be Additional Director on 15 Sep 2025.
AGM
Vbl Innovations Private Limited last Annual general meeting of members was held on 16 Sep 2025 as per latest MCA records.
Ceased
Vijay Tadimalla ceased to be Additional Director.
Charges
A charge registered on 17 Feb 2022 via Charge ID 100563968 with Hdfc Bank Limited was fully satisfied on 08 May 2025.
Filing
Vbl Innovations Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge registered on 09 Nov 2021 via Charge ID 100501949 with Hdfc Bank Limited was fully satisfied on 07 Nov 2024.
Appointed
Vijay Tadimalla was appointed as Director.
Ceased
Viswanadh Kasi Yamujala ceased to be Director.
Appointed
Kumaresh Bhuwalka was appointed as Whole-Time Director.
Charges
A charge registered on 29 Nov 2017 via Charge ID 100140513 with Others was fully satisfied on 10 Jul 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.37 Cr with Charge ID 100809140 was registered on 30 Oct 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 22.00 Cr with Charge ID 100793251 was registered on 02 Sep 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.86 Cr with Charge ID 100671354 was registered on 04 Nov 2022.
29 earlier events are in the company report.
Frequently asked questions
VBL Innovations is an active private limited company based in Bangalore, Karnataka, India. The company works in leather goods manufacturing, within the consumer goods industry. It was incorporated on 16 November 1994 (32+ years old) and is registered under CIN U85110KA1994PTC016562.
VBL Innovations has 5 current directors:
- Harsh Vardhan Bhuwalka - Managing Director
- Kumaresh Bhuwalka - Whole-Time Director
- Yashovardhan Saboo - Director
- Viswanadh Kasi Yamujala - Director
- Vijay Tadimalla - Director
The latest financial statements of VBL Innovations on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 16 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of VBL Innovations is 29AAACV4827H1Z4, registered in Karnataka. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of VBL Innovations is U85110KA1994PTC016562. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
VBL Innovations has 8 court cases on record: 6 filed by the company and 2 filed against it. Most are in the high courts.
VBL Innovations was incorporated on 16 November 1994, making it 32+ years old. It is registered with the Registrar of Companies, Bangalore.
VBL Innovations has 5 deals on record (5 secondary share transfers); the latest was in March 2024.
Vijay Tadimalla ceased to be Additional Director on 15 Sep 2025. Vijay Tadimalla was appointed as Director on 23 Oct 2024. Viswanadh Kasi Yamujala ceased to be Director on 21 Oct 2024. VBL Innovations has 8 board changes on record in total.
Yes, VBL Innovations is registered as a small enterprise under Udyam registration (number: UDYAM-KR-03-0023213).
VBL Innovations has 1 MSME Form 1 return on record for the period ending Mar 2024, listing 80 overdue payments to 18 micro and small suppliers. The latest return was filed on 30 Apr 2024.