Razorpay Software Limited - Due diligence report

A 360° intelligence report on Razorpay: trust score, financial health, credit view, compliance, directors, growth and distress signals - gen…

2013-05-24 Bangalore, Karnataka Active Unlisted Active Compliant
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RS Razorpay Software Limited
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Razorpay — 360° Intelligence Report

Generated from MCA filings & public records
69/100
Trust Score
Moderate

Razorpay is assessed as Moderate with a Trust Score of 69/100. Razorpay is an active public limited indian non-government company incorporated in 2013, operating in the Financial Services 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 moderate compliance risk and moderate financial risk profile.

Report generated on 16 Jul 2026 from the latest processed filings. Razorpay Software Limited snapshot & full profile →

Financial Health › Neutral
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Good

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
69/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
62/100
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 ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
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.

Get full access

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 (-) · 2 satisfied (75.94 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others1 48.0 cr
Axis Bank Limited1 48.0 cr
Compliance Score: 62/100 Moderate
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 3 court forum(s).
  • 2 auditor resignation(s) filed - latest: S R G A & CO. on 2021-11-14.
  • Delayed payments to MSME suppliers disclosed (9 disclosure(s)).
  • 4 active GST registration(s).
Legal cases on record (3)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
SHASHANK KUMAR 01234567 Director 01/04/2018 6 yrs Approved
ARIF KHAN 01234567 Director 01/04/2018 6 yrs Approved
HARSHIL MATHUR 01234567 Director 01/04/2018 6 yrs Approved
Arpit Chug 01234567 Director 01/04/2018 6 yrs Approved
Harshil Mathur 01234567 Director 01/04/2018 6 yrs Approved
Prabhakar Tiwari 01234567 Director 01/04/2018 6 yrs Approved
Shilpa Mankar Ahluwalia 01234567 Director 01/04/2018 6 yrs Approved
Ira Gupta 01234567 Director 01/04/2018 6 yrs Approved
Subramaniam Somasundaram 01234567 Director 01/04/2018 6 yrs Approved
  • 9 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2024)
NameDesignationTotal remuneration
A K SharmaManaging Director2.4 cr
R MehtaWhole-time Director1.6 cr
S IyerCFO95.0 L

Remuneration is disclosed in the latest annual return. Unlock full report

06

Ownership & Group Intelligence

As per FY 2024 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
Razorpay, Inc.
Subsidiaries
14
Group entities
16
Capital events
4 allotment(s) · 3 transfer(s)

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

Group entityRelationship% held
Razorpay, Inc. Holding Company 74.00%
Viverati Interactive Marketing Private Limited Subsidiary Company 74.00%
Razorpay Tech Solutions Private Limited Subsidiary Company 74.00%

Key managerial personnel: SHASHANK KUMAR (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 50 · Distress 60
Growth signals & trust indicators
Asset base grew 1.42 - capacity expansion.
EPFO headcount growing - hiring signal.
Operating for 13+ 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.
2 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 17.68 Lakh.
3 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence64/100
Review suggested
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment58/100
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 gaps should be priced into terms.
Investor view55/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 2 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
26 Sep 2025
Last AGM held
Annual general meeting
18 Aug 2025
Director appointed
Arpit Chug (Cfo)
11 Aug 2025
Director appointed
Shilpa Mankar Ahluwalia (Additional Director)
Director appointed
Ira Gupta (Additional Director)
Director appointed
Subramaniam Somasundaram (Additional Director)
31 Mar 2025
Latest balance sheet
Filed with ROC
27 Mar 2025
Director appointed
ARIF KHAN (Director)
12 Jun 2024
Charge satisfied
Axis Bank Limited
18 Mar 2023
Charge created
Axis Bank Limited - 94.10 Lakh
01 Jul 2022
Director ceased
SHASHANK KUMAR
16 Nov 2021
Director appointed
Prabhakar Tiwari (Company Secretary)
19 Jul 2021
Securities allotted
110973 Equity Shares - 163.89 cr raised
05 Oct 2020
Charge satisfied
Others
06 Dec 2019
Charge created
Others - 75.00 cr
05 Sep 2019
Securities allotted
2194055 Equity Shares - 130.16 cr raised
10

Key Observations

Auto-generated from the data above
Revenue declined 2.1x over the last 4 financial year(s).
Net profit margin moved from 24% to 0.86.
Debt-to-equity stands at 61% - manageable leverage.
Net worth is positive.
9 active director(s) / partner(s); board looks stable and experienced.
4 active GST registration(s) indicate ongoing business operations.
All 2 registered charge(s) stand satisfied - past borrowings repaid.
Operates a group structure with 14 subsidiary(ies) - assess on a consolidated basis.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2024 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.
1 overseas direct investment(s) (ODI) on record - international footprint.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Ntt Data Payment Services U72900MH2005PTC156695 Goregaon East, Maharashtra, India
Toyota Connected U62099KA2011FTC057151 Bangalore, Karnataka, India
Blum India Private Limited U74999MH2016FTC273976 Mumbai, Maharashtra, India
Vertex Techno Solutions U72200KA2006PTC038856 Bangalore., Karnataka, India
Kgisl Technologies Private Limited U72200TZ2021PTC036903 Coimbatore, Tamil Nadu, India
Optiv U72200KA2013PTC067575 Bangalore North, Karnataka, India
Fcb Ulka U74300MH1970PTC014617 Mumbai, Maharashtra, India
Newgen U72300TN1993PTC024500 Chennai, Tamil Nadu, India
12

Who Uses This Report

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

Verify Razorpay before audits and certifications: compliance score 62/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Razorpay: 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 50/100, margin trends, ownership structure and peer set for Razorpay - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 69/100, distress signals and MSME payment-delay disclosures - know whether Razorpay pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Razorpay - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Razorpay an active company?

Razorpay has MCA status “Active” with a compliance score of 62/100 (Moderate).

Is Razorpay financially healthy?

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

Should I do business with Razorpay?

Its overall Trust Score is 69/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Razorpay?

The ultimate holding entity is Razorpay, Inc.. 9 active director(s) are on record.

Does Razorpay have loans or charges against its assets?

No open charges - all 2 registered charge(s) stand satisfied, indicating past borrowings were repaid.

Is Razorpay up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 62/100 (Moderate).

Is it risky to lend to Razorpay?

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.