Virtuous Finance Private Limited
About Virtuous Finance Private Limited
Data last updated:
Virtuous Finance Private Limited was a private limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Shanghvi Finance Private Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the investment banking and advisory segment of the financial services sector. It was incorporated on 28 September 1989.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U65990MH1989PTC053686. The company has 1 GST registration on record, which is no longer active.
The company had an authorised share capital of ₹1 Cr and a paid-up capital of ₹98.99 Lakh. It was led by directors including Ashok Indulal Bhuta and Dineshkumar Ramniklal Desai.
Its last annual general meeting (AGM) was held on 29 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office was at 4th Floor The Eagle'S Flight Suren Road Off Andheri – Kurla Rd Andheri (East), Mumbai, Maharashtra, India – 400093.
As per the financials filed for FY 2017, the company reported a revenue of ₹34.04 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹4.81 Cr (net margin 14.1%) and EBITDA of ₹5.28 Cr (EBITDA margin 15.5%).
Its group structure included 4 subsidiaries.
As per MCA filings, the company had satisfied charges of ₹1,573.76 Cr on record.
Company details
CIN history
Virtuous Finance has one previous CIN (Corporate Identification Number): U65990MH1989PLC053686. The current CIN is U65990MH1989PTC053686, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65990MH1989PTC053686 | Current |
| U65990MH1989PLC053686 | Previous |
Contact details
Virtuous Finance Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered Address4th Floor The Eagle'S Flight Suren Road Off Andheri – Kurla Rd Andheri (East), Mumbai, Maharashtra, India – 400093
- IndustryFinancial Services, Investment Banking & Advisory
To see the full contact details of Virtuous Finance 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 Virtuous Finance 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 Virtuous Finance Private Limited, buy the company report.
Financials of Virtuous Finance Private Limited
FY 2017 filings availableVirtuous Finance Private Limited reported revenue of ₹34.04 Cr (up 9% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue rose 9% in the latest year. EBITDA fell 91% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | ₹34.04 Cr | ||
| Other Income | |||
| Total Revenue | |||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | ₹5.28 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | ₹4.81 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 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | 15.5% | ||
| Net Profit Margin | 14.1% | ||
| 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 Virtuous Finance Private Limited, buy the company report.
Board of directors of Virtuous Finance Private Limited
Virtuous Finance has 3 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashok Indulal Bhuta Also directs: Asawari Petro Services LLP, Sidmak Laboratories (India) Private Limited, Sanghvi Properties Pvt Ltd and 5 more | Director | 28 Feb 2005 | 21 Years 7 Months | As last reported |
| Dineshkumar Ramniklal Desai | Director | 10 Mar 1998 | 28 Years 7 Months | As last reported |
| Mangesh Ramakant Tahmane | Director | 27 May 2016 | 10 Years 4 Months | As last reported |
Peer comparison
Virtuous Finance Private Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Finance, Investment Banking), 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 |
|---|---|---|---|---|---|---|
| Mags Finvest Private Limited | ₹64.37 Cr (FY 2024) | 109.0% | Mumbai, Maharashtra, India | |||
| National Backward Classes Finance and Development Corporation | ₹63.83 Cr (FY 2025) | 10.0% | New Delhi, Delhi, India | |||
| Akiko Global Services Limited | ₹63.55 Cr (FY 2025) | 96.0% | New Delhi, Delhi, India | |||
| Vasi Gateways Private Limited | ₹62.59 Cr (FY 2025) | -33.0% | Noida, Uttar Pradesh, India | |||
| Intensive Finance Private Limited | ₹61.65 Cr (FY 2025) | 579.0% | Mumbai, Maharashtra, India | |||
| Star Housing Finance Limited | ₹61.64 Cr (FY 2024) | 65.0% | Mumbai, Maharashtra, India | |||
| Virtuous Finance Private Limitedthis company | ₹34.04 Cr (FY 2017) | ₹4.81 Cr | 14.1% | 9.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Virtuous Finance Private Limited, buy the company report.
Auditor
Virtuous Finance Private Limited is audited by VALIA & TIMBADIA for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VALIA & TIMBADIA | FY 2017 | 112241W |
Shareholding
The shareholding of Virtuous Finance 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 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Virtuous Finance Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Aug 2016 | 100047545 | State Bank of India | ₹1,150 Cr | Satisfied | |
| 30 Apr 2015 | 10570344 | State Bank of India | ₹31 Cr | Satisfied | |
| 29 Apr 2015 | 10570343 | State Bank of India | ₹17 Cr | Satisfied | |
| 26 Mar 2015 | 10559382 | Indusind Bank Ltd. | ₹17 Cr | Satisfied | |
| 18 Feb 2015 | 10555486 | Indusind Bank Ltd. | ₹358.76 Cr | Satisfied |
To see the full charge records of Virtuous Finance Private Limited, buy the company report.
Total charge records: 5 View all charges
Legal cases
No court or tribunal cases involving Virtuous Finance 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 Virtuous Finance Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Virtuous Finance has 4 subsidiary companies and 2 associated companies. This group structure data is as of FY 2017. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Virtuous Securities and Broking Private Limited | U67120MH1995PTC084851 | |
| Virtuous Securities and Broking Private Limited | U67120MH1995PTC084851 | |
| Virtuous Share Investments Private Limited | U67120MH1995PTC087613 | |
| Virtuous Share Investments Private Limited | U67120MH1995PTC087613 |
To see the full group structure of Virtuous Finance Private Limited, buy the company report.
GST
Virtuous Finance has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Virtuous Finance Private Limited, buy the company report.
Recent activity
Virtuous Finance Private Limited has 5 board changes on record since 1998: 3 appointments and 2 cessations. The latest: Mangesh Ramakant Tahmane ceased to be Additional Director on 26 Sep 2016.
6 earlier events are in the company report.
Frequently asked questions
Virtuous Finance 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.
Virtuous Finance was a private limited company based in Mumbai, Maharashtra, India. The company worked in investment banking and advisory, within the financial services industry. It was incorporated on 28 September 1989 and is registered under CIN U65990MH1989PTC053686. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Virtuous Finance was incorporated on 28 September 1989. It is registered with the Registrar of Companies, Mumbai.
Virtuous Finance had 3 directors:
- Ashok Indulal Bhuta - Director
- Dineshkumar Ramniklal Desai - Director
- Mangesh Ramakant Tahmane - Director
The CIN (Corporate Identification Number) of Virtuous Finance is U65990MH1989PTC053686. 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 Virtuous Finance is at 4th Floor The EagleS Flight Suren Road Off Andheri – Kurla Rd Andheri East, Mumbai, Maharashtra, India – 400093.
The latest financial statements of Virtuous Finance on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 29 September 2017. Year-wise statements from 2015 are in the company report.
No. Virtuous Finance has 1 GST registration on record and it is cancelled or inactive.
Virtuous Finance operated in the financial services industry, in the investment banking and advisory segment.
The peers of Virtuous Finance by revenue are Mags Finvest Private Limited, National Backward Classes Finance and Development Corporation, Akiko Global Services Limited, Vasi Gateways Private Limited, Intensive Finance Private Limited and 1 more, all in the BFSI industry (Finance, Investment Banking), with the same principal business activity (other financial activities).
Mangesh Ramakant Tahmane ceased to be Additional Director on 26 Sep 2016. Azadar Husain Asghar Mehdi Khan ceased to be Director on 13 Jun 2016. Mangesh Ramakant Tahmane was appointed as Director on 27 May 2016. Virtuous Finance has 5 board changes on record in total.