Intercode Solutions Private Limited - Due diligence report

A 360° intelligence report on Intercode Solutions: trust score, financial health, credit view, compliance, directors, growth and distress si…

1974-04-06 Mumbai, Maharashtra Active Unlisted Active Compliant
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Intercode Solutions — 360° Intelligence Report

Generated from MCA filings & public records
73/100
Trust Score
Moderate

Intercode Solutions is assessed as Moderate with a Trust Score of 73/100. Intercode Solutions is an active private limited indian non-government company incorporated in 1974, operating in the Information Technology sector. Reported revenue has declined 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 low compliance risk and moderate financial risk profile.

Report generated on 09 Jul 2026 from the latest processed filings. Intercode Solutions Private Limited snapshot & full profile →

Financial Health › Neutral
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Strong

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 & explainable
Trust ScoreModerate
73/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
93/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
60/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
55/100
Board strength, DIN status, churn and network.
Growth ScoreCaution Indicated
45/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
60/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 5 filed year(s)

Unlock the full 5-year financial dashboard with charts and year-wise figures.

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Scores 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: 60/100 Moderate
  • Negative operating earnings - debt service depends on external support.
  • No open charges - unencumbered balance sheet.
  • Moderate gearing (D/E 38%).
  • Working-capital cover adequate.

Charges position: 0 open (-) · 4 satisfied (9.90 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others2 48.0 cr
The Saraswat Cooperative Bank Ltd2 48.0 cr
Compliance Score: 93/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 1 court forum(s).
  • 1 active GST registration(s).
Legal cases on record (1)
05

Director Intelligence

Stability score: 55/100
NameDIN / PANDesignationAppointedTenureDIN status
BELA BHAVIN KOTHARI 01234567 Director 01/04/2018 6 yrs Approved
BHAVIN CHANDRAKANT KOTHARI 01234567 Director 01/04/2018 6 yrs Approved
  • 2 directors on the board.
  • BHAVIN CHANDRAKANT KOTHARI has DIN status "Disqualified by RoC u/s 164(2)".
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2021 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
1 allotment(s) · 0 transfer(s)

Promoters hold a dominant controlling stake - exact percentages are part of the full report.

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 45 · Distress 60
Growth signals & trust indicators
EPFO headcount growing - hiring signal.
Operating for 52+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
1 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence77/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment65/100
Mixed indicators - deeper appraisal suggested
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 view54/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 1 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management churn warrants questions.
09

MCA Filings & Events Timeline

Latest 15 events
30 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
03 Sep 2020
Director appointed
BHAVIN CHANDRAKANT KOTHARI (Director)
26 Sep 2019
Charge satisfied
The Saraswat Cooperative Bank Ltd
Charge satisfied
Others
18 Jul 2019
Director appointed
BELA BHAVIN KOTHARI (Director)
02 Jul 2019
Director ceased
BHAVIN CHANDRAKANT KOTHARI
05 May 2017
Director ceased
CHANDRAKANT NANDLAL KOTHARI
30 Sep 2016
Director ceased
JAY BHAVIN KOTHARI
Director ceased
SUBHASH CHANDER BASRA
08 Jan 2016
Director ceased
GAUTAM CHANDRAKANT KOTHARI
28 Mar 2014
Charge created
The Saraswat Cooperative Bank Ltd - 50.00 Lakh
31 Jan 2014
Charge created
Others - 5.00 cr
24 Jan 2014
Charge created
Others - 3.00 cr
29 Oct 2013
Charge created
The Saraswat Cooperative Bank Ltd - 1.40 cr
10

Key Observations

Auto-generated from the data above
Revenue declined 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
2 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
All 4 registered charge(s) stand satisfied - past borrowings repaid.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2021 annual return.
Capital has been raised through 1 security allotment(s) - amounts available in the full report.
6 overseas direct investment(s) (ODI) on record - international footprint.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Vertaxis Futuretech Private Limited U72900PN2017PTC171120 Pune, Maharashtra, India
Excellent Business Techsol Private Limited U72900MH2019PTC326742 Mumbai, Maharashtra, India
Techstar Precision Components Private Limited U29219PN2009PTC133554 Ahmednagar, Maharashtra, India
Riit Solutions Private Limited U72200PN2015PTC153877 Pune, Maharashtra, India
Contro Labs India Private Limited U29100TN2017PTC118313 Chennai, Tamil Nadu, India
Vsharp Power Systems Private Limited U74999TN2017PTC116929 Ambattur, Tamil Nadu, India
Anuera Technologies Private Limited U29309PN2018PTC178087 Pune, Maharashtra, India
Samtel Glass Limited U26101RJ1986PLC008852 ..., Rajasthan, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Intercode Solutions before audits and certifications: compliance score 93/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Intercode Solutions: 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: Mixed indicators - deeper appraisal suggested. Credit risk score 60/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 45/100, margin trends, ownership structure and peer set for Intercode Solutions - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 73/100, distress signals and MSME payment-delay disclosures - know whether Intercode Solutions pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Intercode Solutions - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Intercode Solutions an active company?

Intercode Solutions has MCA status “Active” with a compliance score of 93/100 (Low Risk).

Is Intercode Solutions financially healthy?

Intercode Solutions has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.

Should I do business with Intercode Solutions?

Its overall Trust Score is 73/100 (Moderate). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Intercode Solutions?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 2 active director(s) are on record.

Does Intercode Solutions have loans or charges against its assets?

No open charges - all 4 registered charge(s) stand satisfied, indicating past borrowings were repaid.

Is Intercode Solutions up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 93/100 (Low Risk).

Is it risky to lend to Intercode Solutions?

Its Credit Risk Score is 60/100 (Moderate). Banker verdict: Mixed indicators - deeper appraisal suggested.

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.