About Voucher Activation Services India Private Limited
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Voucher Activation Services India Private Limited is a foreign private limited company based in New Delhi, Delhi, India, a subsidiary of Voucher Activation Services Limited, Mauritius. It operates in the prepaid card services segment of the financial services sector. It was incorporated on 07 January 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U74140DL2015FTC275106. Its GSTIN is 07AAFCV0146A1ZV (Delhi). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹50 Cr and a paid-up capital of ₹49.97 Cr. It is led by directors including William Kirsh and Ashim Sharma.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Unit No 814 8th Floor, New Delhi House, Delhi, India – 110001.
As per the financials filed for FY 2025, the company reported a revenue of ₹68.32 Cr, a decline of 23% compared to the previous year. For the same year it recorded a net profit of ₹37.8 Lakh (net margin 0.6%) and EBITDA of ₹91.8 Lakh (EBITDA margin 1.3%). Revenue has grown at a compounded annual rate (CAGR) of 26% over three years and 1% over five years.
The company has about 49 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Stellr. The company has 6 deals on record (6 rights issues); the latest was in March 2024.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website stellr-net.com.
Company details
Contact details
Voucher Activation Services India Private Limited's registered office is in New Delhi, Delhi. Its website is stellr-net.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressUnit No 814 8th Floor, New Delhi House, Delhi, India – 110001
- IndustryFinancial Services, Prepaid Card Services
To see the full contact details of Voucher Activation Services India 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
Brands
Voucher Activation Services India operates one associated brand: Stellr. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers prepaid cards for digital content and services in dynamic growth markets. | stellr-net.com |
Business activity
The main business activity of Voucher Activation Services India is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Voucher Activation Services India Private Limited, buy the company report.
Financials of Voucher Activation Services India Private Limited
FY 2025 filings availableVoucher Activation Services India Private Limited reported revenue of ₹68.32 Cr (down 23% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 23% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 1%. EBITDA rose 125% 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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| EBITDA | ₹91.8 Lakh | ||||
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| Net Profit (PAT) | ₹37.8 Lakh | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 1.3% | ||||
| Net Profit Margin | 0.6% | ||||
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To see the full financial statements and ratios of Voucher Activation Services India Private Limited, buy the company report.
Board of directors of Voucher Activation Services India Private Limited
Voucher Activation Services India has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| William Kirsh | Director | 12 Aug 2023 | 3 Years 3 Months | Current |
| Ashim Sharma Also directs: Freepaycard Retail Private Limited | Director | 30 Sep 2024 | 2 Years 1 Months | Current |
| Ashish Gautam Also directs: Q&T Foods Limited | Director | 08 Apr 2024 | 2 Years 7 Months | Current |
Auditor
Voucher Activation Services India Private Limited is audited by S.N. Dhawan & Co LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.N. Dhawan & Co LLP | FY 2022 | 000050N/N500045 |
Shareholding
The shareholding of Voucher Activation Services India 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 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Voucher Activation Services India Private Limited, buy the company report.
Deals & funding
Voucher Activation Services India Private Limited has 6 deals on record (6 rights issues); the latest was in March 2024.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Rights issue | ₹1.01 Cr | Investors: Voucher Activation Services Limited |
| Mar 2023 | Rights issue | ₹89.8 Lakh | Investors: Voucher Activation Services Limited |
| Aug 2020 | Rights issue | ₹3.11 Cr | Investors: Voucher Activation Services Limited |
| Jan 2019 | Rights issue | ₹16.31 Cr | Investors: Voucher Activation Services Limited |
| May 2017 | Rights issue | ₹19.61 Cr | Investors: Voucher Activation Services Limited |
To see the full deal history of Voucher Activation Services India Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Voucher Activation Services India 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 Voucher Activation Services India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Voucher Activation Services India Private Limited has a workforce of 49 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 49 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 |
To see the full employee and EPFO history of Voucher Activation Services India Private Limited, buy the company report.
GST
Voucher Activation Services India has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAFCV0146A1ZV | Delhi | Active | 01 Jul 2017 |
| 06AAFCV0146A1ZX | Haryana | Active | 01 Jul 2017 |
| 29AAFCV0146A1ZP | Karnataka | Active | 08 Feb 2022 |
To see the full GST registrations and return filing status of Voucher Activation Services India Private Limited, buy the company report.
Recent activity
Voucher Activation Services India Private Limited has 14 board changes on record since 2017: 4 appointments and 10 cessations. The latest: Ashim Sharma was appointed as Director on 30 Sep 2024.
5 earlier events are in the company report.
Frequently asked questions
Voucher Activation Services India is an active foreign private limited company based in New Delhi, Delhi, India. The company works in prepaid card services, within the financial services industry. It was incorporated on 07 January 2015 (11+ years old) and is registered under CIN U74140DL2015FTC275106.
Voucher Activation Services India has 3 current directors:
- William Kirsh - Director
- Ashim Sharma - Director
- Ashish Gautam - Director
The latest financial statements of Voucher Activation Services India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Voucher Activation Services India is 07AAFCV0146A1ZV, registered in Delhi. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 06AAFCV0146A1ZX (Haryana), 29AAFCV0146A1ZP (Karnataka).
The CIN (Corporate Identification Number) of Voucher Activation Services India is U74140DL2015FTC275106. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Voucher Activation Services India was incorporated on 07 January 2015, making it 11+ years old. It is registered with the Registrar of Companies, Delhi.
Voucher Activation Services India has 6 deals on record (6 rights issues); the latest was in March 2024.
Ashim Sharma was appointed as Director on 30 Sep 2024. Ashish Gautam was appointed as Director on 08 Apr 2024. Ashim Sharma ceased to be Additional Director on 29 Sep 2023. Voucher Activation Services India has 14 board changes on record in total.
Voucher Activation Services India can be reached through the website stellr-net.com. Its registered office is in New Delhi, Delhi, India.
The registered office of Voucher Activation Services India is at Unit No 814 8th Floor, New Delhi House, Delhi, India – 110001.
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