About Visagar Financial Services Limited
Data last updated: 23 December 2025
Visagar Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in non-banking financial services (NBFC), a part of the broader financial services sector. Incorporated on 01 March 1994, the company has been in operation for over 32 years.
Registered with ROC Mumbai under CIN L99999MH1994PLC076858. Listed on BSE: 531025.
Capital: an authorised share capital of ₹60 Cr and a paid-up capital of ₹58.39 Cr. Formerly known as Inca Finlease Ltd. It is led by directors including Kuldeep Kumar and Tilokchand Manaklal Kothari.
Last AGM: 30 September 2024. Financial statements filed for year ended 31 March 2024. Office: Mumbai, Maharashtra.
As per BSE-filed standalone financials for FY 2024, the company reported a revenue of ₹334.15 Cr, reflecting significant growth compared to the previous year. The net worth stands at ₹60.66 Cr (down 1.95% YoY). Total assets are valued at ₹104.21 Cr (up 34.31% YoY).
The company is associated with 1 brand - Visagar.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vfsl.org.
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Registered Address907 – 908 Dev Plaza 9Th Floor Opp. Andheri Fire Station S.V. Road An, Dheri (W), Mumbai, Maharashtra, India – 400058
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IndustryFinancial Services, NBFC, Investment & Credit NBFC
- 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 Visagar Financial Services Limited
Visagar Financial Services Limited has one previous CIN (Corporate Identification Number): U99999MH1994PLC076858. The current CIN is L99999MH1994PLC076858, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L99999MH1994PLC076858 | Current |
| U99999MH1994PLC076858 | Previous |
Associated Brands with Visagar Financial Services Limited
Visagar Financial Services Limited operates one associated brand: VISAGAR. These brands represent Visagar Financial Services Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Operations are managed across multiple industries by the diversified conglomerate. | visagar.com |
Competitors & Alternatives of Visagar Financial Services Limited
Brands and companies operating in the same space as Visagar Financial Services Limited include Inditex, Hopscotch, Bewakoof and 5 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Inditex
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Retailer of fashion products | Arteixo, Spain, Spain | 1974 |
Hopscotch
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Apparel and accessories for children are provided online. | Thane, India, India | 2012 |
Bewakoof
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Multi-category fashion products are sold by an internet-first brand. | Mumbai, India, India | 2011 |
American Eagle Outfitters
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Multi-category fashion products for men and women are offered. | Pittsburgh, United States, United States | 1977 |
Styched
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Multi-category fashion for men and women is offered online. | Bengaluru, India, India | 2019 |
Levi Strauss
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Brand of fashion apparel for men and women | San Francisco, United States, United States | 1853 |
Max Fashion
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Internet first brand of clothing, footwear, and accessories for women, men, and kids | Bengaluru, India, India | 2006 |
Be Young
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Everyday fashion apparel, accessories, and combo options are retailed. | Udaipur, India, India | 2017 |
Business Activity of Visagar Financial Services Limited
Visagar Financial Services Limited operates primarily in the financial and insurance service sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| Locked | Financial and insurance Service | Locked | Other financial activities | Locked |
Detailed business activity records for Visagar Financial Services Limited
Activity codes and turnover contribution percentages require an active report plan.
- Activity group codes
- Detailed activity codes
- Turnover contribution
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Auditor Details of Visagar Financial Services Limited
Visagar Financial Services Limited is audited by S.C. Mehra & Associates for the financial year 2019. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S.C. Mehra & Associates | Locked | Locked | Locked |
Complete auditor history for Visagar Financial Services Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
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Board of Directors and KMP of Visagar Financial Services Limited
Visagar Financial Services Limited currently reports 4 directors and 2 key managerial personnel. 12 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kuldeep Kumar | Director | 30 Mar 2019 | 7 Years 3 Months | Current |
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Tilokchand Manaklal Kothari
Also directs:
Shalimar Productions Limited, Visagar Polytex Limited, Maharashtra Corporation Limited and 5 more
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Director | 15 Jan 2011 | 15 Years 5 Months | Current |
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Madhu Bala Vaishnav
Also directs:
Visagar Polytex Limited, Maharashtra Corporation Limited, Visagar Financial Services Limited and 1 more
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Director | 30 Mar 2019 | 7 Years 3 Months | Current |
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Sagar Tilokchand Kothari
Also directs:
Visagar Financial Services Limited, Saraswati Educare Foundation, Luxury Collective Private Limited and 1 more
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Ceo | 16 Apr 2019 | 7 Years 2 Months | Current |
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Ankita Rai
Also directs:
Visagar Financial Services Limited, Fille Avis Llp
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Cfo | 22 Apr 2022 | 4 Years 2 Months | Current |
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Anju Pareek
Also directs:
Shalimar Productions Limited, Maharashtra Corporation Limited, Visagar Financial Services Limited and 1 more
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Director | 30 Sep 2024 | 1 Years 9 Months | Current |
Financials of Visagar Financial Services Limited FY 2024 filings available
Visagar Financial Services Limited reported revenue of ₹334.15 Cr (up 594.08% YoY) for FY 2024.
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹334.15 Cr | ₹48.14 Cr | ₹16.82 Cr | ₹66.58 Cr | ₹1.51 Cr | ₹53.74 Lakh |
| Interest Earned | ₹2.31 Cr | ₹1.09 Cr | ₹15.77 Lakh | ₹15.95 Lakh | ₹18.13 Lakh | - |
| Other Income | ₹0 | ₹3.66 Cr | ₹0 | ₹0 | ₹1.06 Lakh | ₹52.86 Lakh |
| Total Income | ₹334.15 Cr | ₹51.8 Cr | ₹16.82 Cr | ₹66.58 Cr | ₹1.52 Cr | ₹1.07 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹328.39 Cr | ₹63.16 Cr | ₹16.57 Cr | ₹66.98 Cr | ₹78.41 Lakh | ₹88.73 Lakh |
| Changes in Inventories | ₹2.86 Cr | -₹13.79 Cr | -₹26.33 Lakh | -₹29.88 Lakh | ₹52.77 Lakh | -₹10.51 Lakh |
| Employee Benefit Expense | ₹60.72 Lakh | ₹26.33 Lakh | ₹8.7 Lakh | ₹9.21 Lakh | ₹21.18 Lakh | ₹10.18 Lakh |
| Finance Costs | ₹25 Lakh | ₹14,000 | ₹97,000 | ₹200 | ₹5,000 | ₹0 |
| Depreciation & Amortisation | ₹11.18 Lakh | ₹7,000 | ₹2,000 | ₹5,000 | ₹8,000 | ₹16,000 |
| Other Expenses | ₹3.16 Cr | ₹35.14 Lakh | ₹17.99 Lakh | ₹15.76 Lakh | ₹28.07 Lakh | ₹11.95 Lakh |
| Total Expenses | ₹335.39 Cr | ₹49.99 Cr | ₹16.58 Cr | ₹66.93 Cr | ₹1.81 Cr | ₹1.01 Cr |
| Profit Before Exceptional Items & Tax | -₹1.24 Cr | ₹1.81 Cr | ₹23.83 Lakh | -₹34.72 Lakh | -₹28.45 Lakh | ₹6.09 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | -₹1.24 Cr | ₹1.81 Cr | ₹23.83 Lakh | -₹34.72 Lakh | -₹28.45 Lakh | ₹6.09 Lakh |
| Total Tax Expense | ₹0 | ₹53.5 Lakh | ₹0 | ₹0 | ₹0 | ₹1.6 Lakh |
| Net Profit | -₹1.24 Cr | ₹1.28 Cr | ₹23.83 Lakh | -₹34.72 Lakh | -₹28.45 Lakh | ₹4.49 Lakh |
| Other Comprehensive Income | ₹0 | ₹35.48 Lakh | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | -₹1.24 Cr | ₹1.63 Cr | ₹23.83 Lakh | -₹34.72 Lakh | -₹28.45 Lakh | ₹4.49 Lakh |
| EBITDA (computed) | -₹87.85 Lakh | ₹1.82 Cr | ₹24.82 Lakh | -₹34.67 Lakh | -₹28.32 Lakh | ₹6.25 Lakh |
| Basic EPS | ₹-0.02 | ₹0.03 | ₹0.02 | ₹-0.11 | ₹-0.09 | ₹0.01 |
| Diluted EPS | ₹-0.02 | ₹0.03 | ₹0.02 | ₹-0.11 | ₹-0.09 | ₹0.01 |
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Total Assets | ₹104.21 Cr | ₹77.59 Cr | ₹13.6 Cr | ₹14.12 Cr | ₹13.54 Cr | ₹16.11 Cr |
| Non-current Assets | - | - | - | - | - | ₹13.85 Cr |
| Current Assets | - | - | - | - | - | ₹2.27 Cr |
| Property, Plant & Equipment | ₹41.94 Lakh | ₹42,000 | ₹4,000 | ₹6,000 | ₹10,000 | ₹18,000 |
| Inventories | ₹13.16 Cr | ₹16.02 Cr | ₹2.24 Cr | ₹1.97 Cr | ₹1.67 Cr | ₹2.2 Cr |
| Trade Receivables | - | - | - | - | - | ₹8,000 |
| Cash & Equivalents | ₹65,000 | ₹2.05 Lakh | ₹7,000 | ₹1.26 Lakh | ₹4.72 Lakh | ₹67,000 |
| Equity (Net Worth) | ₹60.66 Cr | ₹61.86 Cr | ₹11.95 Cr | ₹11.71 Cr | ₹12.05 Cr | ₹12.34 Cr |
| Equity Share Capital | ₹58.39 Cr | ₹58.39 Cr | ₹9.75 Cr | ₹6.5 Cr | ₹6.5 Cr | ₹6.5 Cr |
| Borrowings (Non-current) | - | - | - | - | - | ₹0 |
| Borrowings (Current) | - | - | - | - | - | ₹3.68 Cr |
| Total Debt (computed) | - | - | - | - | - | ₹3.68 Cr |
| Current Liabilities | - | - | - | - | - | ₹3.77 Cr |
| Total Liabilities | ₹43.56 Cr | ₹15.73 Cr | ₹1.65 Cr | ₹2.41 Cr | ₹1.48 Cr | ₹3.78 Cr |
| Metrics | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Cash Flow | -₹25.86 Cr | -₹54.11 Cr | -₹12.21 Lakh |
| Investing Cash Flow | ₹52.7 Lakh | -₹38,000 | ₹17.96 Lakh |
| Financing Cash Flow | ₹27.35 Cr | ₹55.26 Cr | ₹0 |
| Capital Expenditure | ₹0 | ₹38,000 | ₹0 |
| Free Cash Flow (computed) | -₹25.86 Cr | -₹54.12 Cr | -₹12.21 Lakh |
| Dividends Paid | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹2.01 Cr | ₹1.14 Cr | ₹5.76 Lakh |
| Metrics | Q2 FY26 | Q1 FY26 | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|---|---|
| Revenue from Operations | ₹1.66 Cr | ₹2.55 Cr | ₹11.45 Cr | ₹75.94 Cr | ₹30.57 Cr |
| Interest Earned | - | - | ₹47.16 Lakh | ₹2.43 Lakh | ₹9.08 Lakh |
| Other Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Income | ₹1.66 Cr | ₹2.55 Cr | ₹11.45 Cr | ₹75.94 Cr | ₹30.57 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹69.7 Lakh | ₹87.04 Lakh | ₹10.3 Cr | ₹65.11 Cr | ₹37.95 Cr |
| Changes in Inventories | ₹54.1 Lakh | ₹2.17 Cr | ₹0 | ₹6.72 Cr | -₹5.28 Cr |
| Employee Benefit Expense | ₹6.29 Lakh | ₹7.08 Lakh | ₹5.94 Lakh | ₹9.59 Lakh | ₹11.85 Lakh |
| Finance Costs | ₹0 | ₹9,000 | ₹5.86 Lakh | ₹0 | ₹0 |
| Depreciation & Amortisation | ₹2.26 Lakh | ₹2.37 Lakh | ₹4.51 Lakh | ₹2.43 Lakh | ₹2.32 Lakh |
| Other Expenses | ₹11.51 Lakh | ₹46.32 Lakh | ₹8.74 Lakh | ₹12.62 Lakh | ₹33.75 Lakh |
| Total Expenses | ₹1.44 Cr | ₹3.6 Cr | ₹10.55 Cr | ₹72.08 Cr | ₹33.15 Cr |
| Profit Before Exceptional Items & Tax | ₹21.68 Lakh | -₹1.05 Cr | ₹90.61 Lakh | ₹3.86 Cr | -₹2.58 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹21.68 Lakh | -₹1.05 Cr | ₹90.61 Lakh | ₹3.86 Cr | -₹2.58 Cr |
| Total Tax Expense | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Profit | ₹21.68 Lakh | -₹1.05 Cr | ₹90.61 Lakh | ₹3.86 Cr | -₹2.58 Cr |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹21.68 Lakh | -₹1.05 Cr | ₹90.61 Lakh | ₹3.86 Cr | -₹2.58 Cr |
| EBITDA (computed) | ₹23.94 Lakh | -₹1.03 Cr | ₹1.01 Cr | ₹3.88 Cr | -₹2.56 Cr |
| Basic EPS | ₹0.00 | ₹-0.02 | ₹0.02 | ₹0.07 | ₹-0.04 |
| Diluted EPS | ₹0.00 | ₹-0.02 | ₹0.02 | ₹0.00 | ₹-0.04 |
Shareholding Pattern of Visagar Financial Services Limited
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, promoters hold 5.95%, domestic institutional investors hold 0.04%, retail and other public shareholders hold 94.01% of Visagar Financial Services Limited. The company had 193,874 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% |
| Public | 94.05% | 94.05% | 94.05% | 94.05% | 94.05% | 94.05% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | 5.95% | 5.95% | 5.95% |
| Public | 94.05% | 94.05% | 94.05% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | - |
Charges & Borrowings Visagar Financial Services Limited
Visagar Financial Services Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Visagar Financial Services Limited
View historical data on people associated with Visagar Financial Services Limited, including employment history and EPFO contributions.
Employee and EPFO history for Visagar Financial Services Limited
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GST Compliance of Visagar Financial Services Limited
GST registrations and filing compliance for Visagar Financial Services Limited
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Credit Ratings, Litigation & Regulatory Alerts for Visagar Financial Services Limited
Credit ratings, litigation, and regulatory alerts for Visagar Financial Services Limited
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MSME Payment Delays by Visagar Financial Services Limited
MSME payment history for Visagar Financial Services Limited
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Subsidiaries & Group Companies of Visagar Financial Services Limited
Corporate group structure for Visagar Financial Services Limited
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MCA Filings & Documents of Visagar Financial Services Limited
MCA filings and documents for Visagar Financial Services Limited
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Recent Activity on Visagar Financial Services Limited
Recent News on Visagar Financial Services Limited
Frequently Asked Questions about Visagar Financial Services Limited
Visagar Financial Services Limited is an active public limited company in the financial services sector based in Mumbai, Maharashtra, India. It was incorporated on 01 March 1994 (32+ years old) and is registered under CIN L99999MH1994PLC076858. Listed on BSE: 531025.
Visagar Financial Services Limited reported revenue of ₹334.15 Cr for FY 2024 (up 594.08% YoY) based on standalone BSE filings.
The current directors and KMP of Visagar Financial Services Limited are:
- Kuldeep Kumar - Director
- Tilokchand Manaklal Kothari - Director
- Madhu Bala Vaishnav - Director
- Sagar Tilokchand Kothari - Ceo
- Ankita Rai - Cfo
- Anju Pareek - Director
The primary industry of Visagar Financial Services Limited is financial services. The company specifically operates in nbfc. The company is currently active in this sector.
Yes. Visagar Financial Services Limited is listed on BSE with code 531025.
Visagar Financial Services Limited can be reached at the registered office: 907 – 908 Dev Plaza 9Th Floor Opp. Andheri Fire Station S.V. Road An, Dheri W, Mumbai, Maharashtra, India – 400058, or through the website vfsl.org.