Promoter holding
64.27%
IA
Incorp Advisory Services Private Limited - Due diligence report
A 360° intelligence report on In.Corp: trust score, financial health, credit view, compliance, directors, growth and distress signals - gene…
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In.Corp — 360° Intelligence Report
Generated from MCA filings & public records72/100
Trust Score
Moderate
In.Corp is assessed as Moderate with a Trust Score of 72/100. In.Corp is an active private limited indian non-government company incorporated in 2019, operating in the Business Outsourcing sector. The company has shown revenue growth across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and moderate financial risk profile.
Report generated on 17 Aug 2026 from the latest processed filings. Incorp Advisory Services Private Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
72/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
70/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
70/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
90/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
75/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
85/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
65/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 4 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 90/100 Low Risk
- Liabilities ≈ 38% EBITDA - serviceable.
- No open charges - unencumbered balance sheet.
- Moderate gearing (D/E 1.42).
- Working-capital cover adequate.
Charges position: 0 open (-) · 0 satisfied (-).
Compliance Score: 70/100 Moderate
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- 2 auditor resignation(s) filed - latest: Walker Chandiok & Co LLP on 2022-05-11.
- Delayed payments to MSME suppliers disclosed (1 disclosure(s)).
- 2 active GST registration(s).
05
Director Intelligence
Stability score: 75/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| Unnati Mansukh Thakker | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ooi Siew Linn | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANISH MAHENDRA MODI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MANISH MAHENDRA MODI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Tan Khoon Guan | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Tak Kwan Judy Wong | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 6 directors on the board.
- No disqualified or deactivated DINs.
- 5 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2023 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Incorp Global Pte. Ltd., Singapore
Subsidiaries
-
Group entities
1
Capital events
4 allotment(s) · 4 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Incorp Global Pte. Ltd., Singapore | Holding Company | 74.00% |
| Uber9 Business Process Services Private Limited | Associate Company | 74.00% |
Key managerial personnel: MANISH MAHENDRA MODI (CEO) · MANISH MAHENDRA MODI (CEO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 85 · Distress 65
Growth signals & trust indicators
Revenue acceleration: +2.1x over 3 year(s).
Latest year revenue grew 24%.
EPFO headcount growing - hiring signal.
Operating for 7 years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Losses deepening year-on-year.
4 director exits within 2 years.
2 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 1.62 Lakh.
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Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence69/100
Review suggested
Suitability as a supplier / customer counterparty.
- Statutory record is clean.
- 2 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment79/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- No existing security registered - first-charge position available.
- Compliance record supports lending.
Investor view76/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 3 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events30 Jul 2025
Director appointed
Tak Kwan Judy Wong (Additional Director)
28 Apr 2025
Director appointed
Tan Khoon Guan (Additional Director)
07 Jan 2025
Director ceased
Chin Heng Lam Eric
30 Sep 2024
Last AGM held
Annual general meeting
29 Sep 2024
Director ceased
Unnati Mansukh Thakker
Director ceased
Ooi Siew Linn
Director ceased
Manish Asani
03 Apr 2024
Director appointed
Ooi Siew Linn (Director)
31 Mar 2024
Latest balance sheet
Filed with ROC
23 Feb 2024
Director appointed
Unnati Mansukh Thakker (Director)
16 Feb 2024
Director ceased
ATIN RAMESHKUMAR BHUTANI
12 Oct 2022
Director appointed
MANISH MAHENDRA MODI (CEO)
30 Sep 2022
Director ceased
EDMUND KWING MUN LEE
24 Nov 2021
Securities allotted
10786 Equity Shares - 40.00 cr raised
31 Mar 2021
Share transfer (FY 2021)
907.00000000 shares to SHETH ASHISHKUMAR
10
Key Observations
Auto-generated from the data aboveRevenue grew 0.86 over the last 3 financial year(s).
Net profit margin moved from 61% to 38%.
Debt-to-equity stands at 1.42 - manageable leverage.
Net worth is positive.
6 active director(s) / partner(s); board looks stable and experienced.
2 active GST registration(s) indicate ongoing business operations.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 4 security allotment(s) - amounts available in the full report.
3 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Siddhivinayak Process Equipments Private Limited | U29253MH2012PTC228171 | Mumbai, Maharashtra, India |
| Signal Logistics Private Limited | U63013DL2003PTC118614 | Delhi, Delhi, India |
| Telecraft E Solutions | U72900DL2004PTC127999 | New Delhi, Delhi, India |
| Fi-Tek | U74140WB1999PTC088766 | Kolkata, West Bengal, India |
| Vd Fabric Private Limited | U17120GJ2015PTC082488 | Anand, Gujarat, India |
| Dealsandyou | U52603HR2010PTC081670 | Gurugram, Haryana, India |
| Mudrakshi Hytech India Private Limited | U74899DL1985PTC022498 | New Delhi, Delhi, India |
| Typsa India Private Limited | U74999DL2021FTC379447 | New Delhi, Delhi, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify In.Corp before audits and certifications: compliance score 70/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of In.Corp: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 90/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 85/100, margin trends, ownership structure and peer set for In.Corp - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 72/100, distress signals and MSME payment-delay disclosures - know whether In.Corp pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (no cases on record), regulatory flags, charge documents trail and director networks for In.Corp - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is In.Corp an active company?
In.Corp has MCA status “Active” with a compliance score of 70/100 (Moderate).
Is In.Corp financially healthy?
In.Corp has a Financial Health Score of 70/100 (Moderate) based on its filed financial statements.
Should I do business with In.Corp?
Its overall Trust Score is 72/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls In.Corp?
The ultimate holding entity is Incorp Global Pte. Ltd., Singapore. 6 active director(s) are on record.
Does In.Corp have loans or charges against its assets?
No charges are registered against this company - an unencumbered balance sheet.
Is In.Corp up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 70/100 (Moderate).
Is it risky to lend to In.Corp?
Its Credit Risk Score is 90/100 (Low Risk). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
