Waves MF Services Private Limited
About Waves MF Services Private Limited
Data last updated:
Waves MF Services Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the advisory services segment of the financial services sector. It was incorporated on 18 May 2015 and has been in existence for over 11 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2015PTC264593.
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹2 Lakh. It was formerly known as Waves Mf Advisors Private Limited. It is led by directors Ashish Kyal Harishankar and Somesh Harishankar Kyal.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 413 A – Wing Express Zone Western Express Highway Near Oberoi Mall Malad East, Mumbai, Maharashtra, India – 400097.
As per the financials filed for FY 2025, the company reported a revenue of ₹1.86 Lakh, a decline of 17% compared to the previous year. For the same year it recorded a net profit of ₹285 (net margin 0.2%) and EBITDA of ₹1,890 (EBITDA margin 1%). Revenue has declined at a compounded annual rate (CAGR) of 2% over three years and 4% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address413 A – Wing Express Zone Western Express Highway Near Oberoi Mall Malad East, Mumbai, Maharashtra, India – 400097
- IndustryFinancial Services, Advisory, Financial Brokerage, Consultancy
- 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
- One PDF report, delivered after checkout
Business Activity of Waves MF Services Private Limited
The main business activity of Waves MF Services is financial and insurance activities. In detail, this covers financial service activities, except insurance and pension funding.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance activities | 64 | Financial service activities, except insurance and pension funding | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Waves MF Services Private Limited FY 2025 filings available
Waves MF Services Private Limited reported revenue of ₹1.86 Lakh (down 17% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Waves MF Services Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 4% over five years, including a 17% fall in the latest year. EBITDA rose 12% 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 of Waves MF Services Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹1,890 | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹285 | •••• | •••• | •••• | •••• |
| 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 of Waves MF Services Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.2% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Waves MF Services are in the company report.
Financial statements from FY 2016
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Waves MF Services Private Limited
Waves MF Services has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashish Kyal Harishankar | Director | 18 May 2015 | 11 Years 5 Months | Current |
| Somesh Harishankar Kyal | Director | 18 May 2015 | 11 Years 5 Months | Current |
Peer Comparison of Waves MF Services Private Limited
Waves MF Services Private Limited is compared with the companies closest to it by revenue in the same principal business activity (Financial service activities, except insurance and pension funding). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Timus Assets Private Limited | ₹1.95 Lakh (FY 2025) | •••• | •••• | •••• | Thane, Maharashtra, India | |
| Graystone Investment Private Limited | ₹1.93 Lakh (FY 2025) | •••• | •••• | 1808.0% | •••• | Chandigarh, India |
| S.R.A. Capital Services Limited. | ₹1.93 Lakh (FY 2025) | •••• | •••• | -78.0% | •••• | New Delhi, Delhi, India |
| Shiv Dharvi Micro Finance Private Limited | ₹1.88 Lakh (FY 2025) | •••• | •••• | 21613.0% | •••• | Gorakhpur, Uttar Pradesh, India |
| Lalwani Leasing Private Limited | ₹1.87 Lakh (FY 2025) | •••• | •••• | 2.0% | •••• | Mumbai, Maharashtra, India |
| Waves MF Services Private Limited this company | ₹1.86 Lakh (FY 2025) | •••• | •••• | -17.0% | •••• | Mumbai, Maharashtra, India |
| Gujriya Sarvan Help Foundation | ₹1.84 Lakh (FY 2025) | •••• | •••• | -59.0% | •••• | Jaipur, Rajasthan, India |
| Viva Global Holdings Private Limited | ₹1.83 Lakh (FY 2025) | •••• | •••• | •••• | Virar West, Maharashtra, India | |
| First Credit and Finance Company Private Limited | ₹1.81 Lakh (FY 2025) | •••• | •••• | -49.0% | •••• | Mumbai, Maharashtra, India |
| Surip Dealers Pvt Ltd | ₹1.8 Lakh (FY 2025) | •••• | •••• | •••• | Kolkata, West Bengal, India | |
| RSG Shagun Micro Care Foundation | ₹1.8 Lakh (FY 2024) | •••• | •••• | •••• | Delhi, India |
Peers are the five companies nearest above and the five nearest below Waves MF Services by revenue in the same principal business activity (Financial service activities, except insurance and pension funding), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Waves MF Services Private Limited
Waves MF Services Private Limited is audited by ASHOKBAIRAGRA&ASSOCIATES for the financial year 2017.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| ASHOKBAIRAGRA&ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Waves MF Services Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Waves MF Services Private Limited
Waves MF Services Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Waves MF Services Private Limited
Employment history and EPFO contributions of people linked to Waves MF Services.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Waves MF Services Private Limited
Waves MF Services Private Limited has 2 board changes on record since 2015: 2 appointments. The latest: Ashish Kyal Harishankar was appointed as Director on 18 May 2015.
Credit Ratings, Litigation & Regulatory Alerts for Waves MF Services Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Waves MF Services Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Waves MF Services Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Waves MF Services Private Limited
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Waves MF Services Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Waves MF Services Private Limited
Waves MF Services is an active private limited company based in Mumbai, Maharashtra, India. The company works in advisory, within the financial services industry. It was incorporated on 18 May 2015 (11+ years old) and is registered under CIN U74999MH2015PTC264593.
Waves MF Services reported revenue of ₹1.86 Lakh for FY 2025 (down 17% YoY).
Waves MF Services has 2 current directors:
- Ashish Kyal Harishankar - Director
- Somesh Harishankar Kyal - Director
Waves MF Services reported a net profit of ₹285 (net margin 0.2%) and EBITDA of ₹1,890 (EBITDA margin 1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Waves MF Services is -2% over three years and -4% over five years. In the latest year (FY 2025) revenue fell 17%. CAGR is the steady yearly rate that links the first and the last year.
The CIN (Corporate Identification Number) of Waves MF Services is U74999MH2015PTC264593. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Waves MF Services was incorporated on 18 May 2015, making it 11+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Waves MF Services by revenue are Timus Assets Private Limited, Graystone Investment Private Limited, S.R.A. Capital Services Limited, Shiv Dharvi Micro Finance Private Limited, Lalwani Leasing Private Limited and 5 more, all in the same principal business activity (Financial service activities, except insurance and pension funding).
Ashish Kyal Harishankar was appointed as Director on 18 May 2015. Somesh Harishankar Kyal was appointed as Director on 18 May 2015.
The registered office of Waves MF Services is at 413 A – Wing Express Zone Western Express Highway Near Oberoi Mall Malad East, Mumbai, Maharashtra, India – 400097.
Waves MF Services has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹2 Lakh.