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Karnavati Finance Limited
Profile data last updated: 12/03/2026
Founded in 1984, Karnavati Finance Limited has been operating for more than 41 years. Karnavati Finance Limited is registered with CIN L65910MH1984PLC034724 (reg. no. 34724). The organization is recorded as company limited by shares under Indian company law. Authorized share capital stands at ₹10.50 crore. The company’s paid-up capital is ₹10.05 crore.
The company specializes in other financial intermediation. [this group includes financial intermediation other than that conducted by monetary institutions.] operations. Registered under the jurisdiction of Mumbai I. The company is incorporated with the address Vraj Group, 2nd Floor, Simran Centre, Mogra Village, 30h Parsi Panchayat Road, Andheri East, Andheri, Mumbai, Mumbai, Maharashtra, India, 400053. The firm continues to be in active status. The entity’s PAN (Permanent Account Number) stands as AABCK1641H. The firm’s registered email for correspondence is [email protected]. The company’s top executive team comprises Kush Ramanbhai Morzaria (CFO) and Kush Ramanbhai Morzaria (CFO).
Company Overview
- CIN
- Date of Incorporation
- 05/12/1984
- Company Status
- Active
- RoC
- Mumbai I
- Registration Number
- Balance sheet date
- 2025-03-31
- Company Category
- Company limited by shares
- Company Sub Category
- Non-government company
- Listed in Stock Exchange
- Yes
- Class of Company
- Public Limited Company
- LEI Number
- Authorized Capital
- ₹10,50,00,000.00
- Paid up Capital
- ₹10,05,00,000.00
- Activity
- Other financial intermediation. [This group includes financial intermediation other than that conducted by monetary institutions.]
- [email protected]
- PAN
GST Numbers
| State | GST Number | Status |
|---|---|---|
| Gujarat | 24AABCK1641H1ZY | Inactive |
| 24AABCK1641H2ZX | Active | |
| Maharashtra | 27AABCK1641H1ZS | Active |
Balance Sheet
| Metric | 31/03/2025 | 31/03/2024 | 31/03/2023 | 31/03/2022 | 31/03/2021 |
|---|---|---|---|---|---|
| Total Non Current Liabilities Net Minority Interest | ₹1,137.93L | ₹1,604.96L | ₹1,298.91L | ₹135.55L | ₹0.00L |
| Accumulated Depreciation | -₹12.00L | -₹11.91L | -₹11.57L | ₹0.00L | -₹18.13L |
| Total Liabilities Net Minority Interest | ₹1,138.48L | ₹1,682.34L | ₹1,377.87L | ₹144.71L | ₹0.00L |
| Tangible Book Value | ₹1,022.71L | ₹1,190.77L | ₹1,357.58L | ₹1,301.47L | ₹0.00L |
| Long Term Debt | ₹1,109.46L | ₹1,554.61L | ₹1,272.60L | ₹121.17L | ₹0.00L |
| Long Term Provisions | ₹9.19L | ₹16.92L | ₹24.98L | ₹14.37L | ₹0.00L |
| Machinery Furniture Equipment | ₹11.75L | ₹11.67L | ₹11.67L | ₹0.00L | ₹19.86L |
| Total Assets | ₹2,161.19L | ₹2,873.11L | ₹2,735.45L | ₹1,446.18L | ₹0.00L |
| Total Equity Gross Minority Interest | ₹1,022.71L | ₹1,190.77L | ₹1,357.58L | ₹1,301.47L | ₹0.00L |
| Gross PPE | ₹12.54L | ₹12.46L | ₹12.46L | ₹1.57L | ₹0.00L |
| Total Capitalization | ₹2,132.17L | ₹2,745.38L | ₹2,630.18L | ₹1,422.64L | ₹0.00L |
| Common Stock | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹0.00L |
| Total Debt | ₹1,109.46L | ₹1,554.61L | ₹1,272.60L | ₹121.17L | ₹0.00L |
| Goodwill And Other Intangible Assets | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
| Other Equity Interest | ₹17.71L | ₹185.77L | ₹352.58L | ₹296.47L | ₹0.00L |
| Other Non Current Liabilities | -₹0.01L | -₹0.01L | -₹0.01L | ₹0.01L | ₹0.00L |
| Capital Stock | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹0.00L |
| Additional Paid In Capital | ₹107.30L | ₹140.91L | ₹174.27L | ₹0.00L | ₹101.40L |
| Total Non Current Assets | ₹7.00L | ₹16.77L | ₹17.12L | ₹2.59L | ₹0.00L |
| Invested Capital | ₹2,132.17L | ₹2,745.38L | ₹2,630.18L | ₹1,422.64L | ₹0.00L |
| Cash Cash Equivalents And Short Term Investments | ₹1.97L | ₹14.30L | ₹168.82L | ₹10.39L | ₹0.00L |
| Net Tangible Assets | ₹1,022.71L | ₹1,190.77L | ₹1,357.58L | ₹1,301.47L | ₹0.00L |
| Prepaid Assets | ₹15.20L | ₹5.00L | ₹5.00L | ₹5.00L | ₹0.00L |
| Cash And Cash Equivalents | ₹1.97L | ₹14.30L | ₹168.82L | ₹10.39L | ₹0.00L |
| Stockholders Equity | ₹1,022.71L | ₹1,190.77L | ₹1,357.58L | ₹1,301.47L | ₹0.00L |
| Share Issued | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹0.00L |
| Current Assets | ₹2,149.19L | ₹2,856.33L | ₹2,718.31L | ₹1,443.59L | ₹0.00L |
| Working Capital | ₹2,148.64L | ₹2,778.95L | ₹2,639.35L | ₹1,434.43L | ₹0.00L |
| Net Debt | ₹1,107.49L | ₹1,540.31L | ₹1,103.78L | ₹110.78L | ₹0.00L |
| Ordinary Shares Number | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹1,005.00L | ₹0.00L |
| Financial Assets | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
| Long Term Debt And Capital Lease Obligation | ₹1,109.46L | ₹1,554.61L | ₹1,272.60L | ₹121.17L | ₹0.00L |
| Current Liabilities | ₹0.55L | ₹77.38L | ₹78.96L | ₹9.16L | ₹0.00L |
| Net PPE | ₹0.54L | ₹0.55L | ₹0.89L | ₹1.57L | ₹0.00L |
| Retained Earnings | -₹89.74L | ₹44.71L | ₹178.16L | ₹0.00L | ₹109.02L |
| Construction In Progress | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
| Other Non Current Assets | ₹5.60L | ₹15.20L | ₹15.20L | ₹0.00L | ₹5.34L |
| Common Stock Equity | ₹1,022.71L | ₹1,190.77L | ₹1,357.58L | ₹1,301.47L | ₹0.00L |
| Inventory | ₹0.00L | ₹1.88L | ₹1.85L | ₹1.71L | ₹0.00L |
| Other Properties | ₹0.79L | ₹0.79L | ₹0.79L | ₹1.57L | ₹0.00L |
Cash Flow
| Metric | 31/03/2025 | 31/03/2024 | 31/03/2023 | 31/03/2022 | 31/03/2021 |
|---|---|---|---|---|---|
| Changes In Cash | -₹12.33L | -₹154.51L | ₹158.43L | -₹0.26L | ₹0.00L |
| Financing Cash Flow | -₹560.34L | ₹124.92L | ₹1,102.90L | -₹425.43L | ₹0.00L |
| Investing Cash Flow | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.20L | ₹0.00L |
| Free Cash Flow | ₹548.01L | -₹279.43L | -₹944.47L | ₹424.97L | ₹0.00L |
| End Cash Position | ₹1.96L | ₹14.30L | ₹168.82L | ₹10.39L | ₹0.00L |
| Other Cash Adjustment Outside Changein Cash | -₹0.01L | -₹0.01L | ₹0.00L | -₹0.01L | ₹0.01L |
| Beginning Cash Position | ₹14.30L | ₹168.82L | ₹10.39L | ₹10.66L | ₹0.00L |
| Operating Cash Flow | ₹548.01L | -₹279.43L | -₹944.47L | ₹424.97L | ₹0.00L |
Income Statement
| Metric | 31/03/2025 | 31/03/2024 | 31/03/2023 | 31/03/2022 |
|---|---|---|---|---|
| Rent Expense Supplemental | ₹2.40L | ₹6.00L | ₹12.75L | ₹6.00L |
| Net Income Discontinuous Operations | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
| Net Income From Continuing Operation Net Minority Interest | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| EBITDA | -₹166.55L | -₹155.39L | ₹75.47L | ₹41.76L |
| Basic EPS | -₹0.00L | -₹0.00L | ₹0.00L | ₹0.00L |
| Total Unusual Items | -₹1.24L | ₹0.00L | ₹0.00L | -₹138.62L |
| Total Expenses | ₹322.66L | ₹460.05L | ₹209.19L | ₹67.75L |
| Operating Revenue | ₹157.23L | ₹304.10L | ₹284.63L | ₹193.50L |
| Tax Effect Of Unusual Items | -₹0.37L | ₹0.00L | ₹0.00L | -₹34.87L |
| Total Unusual Items Excluding Goodwill | -₹1.24L | ₹0.00L | ₹0.00L | -₹138.62L |
| Interest Income Non Operating | ₹0.00L | ₹0.00L | ₹0.00L | ₹46.46L |
| Interest Expense Non Operating | ₹1.29L | ₹1.65L | ₹0.05L | ₹0.48L |
| Interest Income | ₹0.00L | ₹0.00L | ₹0.00L | ₹46.46L |
| Net Income From Continuing And Discontinued Operation | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| General And Administrative Expense | ₹2.45L | ₹4.43L | ₹7.50L | ₹4.36L |
| Reconciled Depreciation | ₹0.10L | ₹0.34L | ₹0.66L | ₹0.77L |
| Net Income Continuous Operations | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| Reconciled Cost Of Revenue | ₹127.42L | ₹206.70L | ₹79.02L | ₹19.79L |
| Net Income | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| Operating Income | -₹165.43L | -₹155.95L | ₹75.44L | ₹125.75L |
| Diluted Average Shares | ₹100.50L | ₹100.50L | ₹100.50L | ₹1,005.00L |
| Selling And Marketing Expense | ₹0.92L | ₹0.69L | ₹18.85L | ₹0.72L |
| Normalized Income | -₹167.19L | -₹166.81L | ₹56.11L | ₹134.06L |
| Total Other Finance Cost | ₹0.02L | ₹0.07L | ₹0.70L | ₹0.14L |
| Net Non Operating Interest Income Expense | -₹1.31L | -₹1.72L | -₹0.75L | ₹45.84L |
| Gross Profit | ₹29.81L | ₹97.40L | ₹205.61L | ₹173.71L |
| EBIT | -₹166.65L | -₹155.73L | ₹74.81L | ₹40.99L |
| Diluted NIAvailto Com Stockholders | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| Cost Of Revenue | ₹127.42L | ₹206.70L | ₹79.02L | ₹19.79L |
| Net Interest Income | -₹1.31L | -₹1.72L | -₹0.75L | ₹45.84L |
| Operating Expense | ₹195.24L | ₹253.35L | ₹130.17L | ₹47.96L |
| Normalized EBITDA | -₹165.31L | -₹155.39L | ₹75.47L | ₹180.38L |
| Net Income Common Stockholders | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| Pretax Income | -₹167.94L | -₹157.38L | ₹74.76L | ₹40.51L |
| Tax Rate For Calcs | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
| Selling General And Administration | ₹3.37L | ₹5.12L | ₹26.35L | ₹5.08L |
| Total Revenue | ₹157.23L | ₹304.10L | ₹284.63L | ₹193.50L |
| Other Operating Expenses | ₹181.76L | ₹220.31L | ₹68.16L | ₹14.29L |
| Diluted EPS | -₹0.00L | -₹0.00L | ₹0.00L | ₹0.00L |
| Interest Expense | ₹1.29L | ₹1.65L | ₹0.05L | ₹0.48L |
| Basic Average Shares | ₹100.50L | ₹100.50L | ₹100.50L | ₹1,005.00L |
| Net Income Including Noncontrolling Interests | -₹168.06L | -₹166.81L | ₹56.11L | ₹30.31L |
| Tax Provision | ₹0.12L | ₹9.43L | ₹18.66L | ₹10.19L |
| Otherunder Preferred Stock Dividend | ₹0.00L | ₹0.00L | ₹0.00L | ₹0.00L |
Company Performance (FY22–FY25)
₹3.0 Cr₹2.3 Cr₹1.5 Cr₹76.0 L₹0
FY22FY23FY24FY25
Directors
| Appointment | Director name | DIN | Designation | |
|---|---|---|---|---|
| 29/09/2001 | Raman Pragjibhai Morzaria | 00203310 | Whole-time director | View other directorships |
| 15/09/2010 | Jay Ramanbhai Morzaria | 02338864 | Managing Director | View other directorships |
| 01/03/2018 | Kush Ramanbhai Morzaria | *****1377E | CFO | |
| 13/08/2018 | Brinda Minoo Bilimoria | 08196034 | Director | View other directorships |
| 20/09/2018 | Parth Chandreshbhai Maniar | 07980886 | Director | View other directorships |
| 05/10/2020 | Akanksha Rai | *****9132P | Company Secretary | |
| 16/01/2021 | Vineshkumar Popatlal Makadia | 00362318 | Director | View other directorships |
| 05/06/2023 | Ashish Nandkishor Batavia | 10181918 | Director | View other directorships |
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Address
Vraj Group, 2nd Floor, Simran Centre, Mogra Village, 30h Parsi Panchayat Road, Andheri East, Andheri, Mumbai, Mumbai, Maharashtra, India, 400053
Frequently Asked Questions
What is the incorporation date of Karnavati Finance Limited?
The incorporation date of Karnavati Finance Limited is 05/12/1984.
What is the authorized share capital and paid-up capital of Karnavati Finance Limited?
The authorized share capital of Karnavati Finance Limited is ₹10,50,00,000.00. The paid-up capital is ₹10,05,00,000.00.
Who are the current board members & directors of Karnavati Finance Limited?
The current board member of Karnavati Finance Limited are:
- Jay Ramanbhai Morzaria
- Raman Pragjibhai Morzaria
- Brinda Minoo Bilimoria
- Parth Chandreshbhai Maniar
- Kush Ramanbhai Morzaria
- Vineshkumar Popatlal Makadia
- Akanksha Rai
- Ashish Nandkishor Batavia
What is the registered address of Karnavati Finance Limited?
The registered address of Karnavati Finance Limited is Vraj Group, 2nd Floor, Simran Centre, Mogra Village, 30h Parsi Panchayat Road, Andheri East, Andheri, Mumbai, Mumbai, Maharashtra, India, 400053.
What is the Corporate Identification Number of Karnavati Finance Limited?
The Corporate Identification Number of Karnavati Finance Limited is L65910MH1984PLC034724.