What we do Karnavati Finance Limited is a Mumbai-based Non-Banking Finance Company providing personal, business, vehicle, and loan against property financing along with full-fledged money changing services. |
Founded in 1,984 |
Market share Recognized NBFC registered with RBI; operates in niche loan financing and money changing markets with growth potential. |
Problem solved Facilitates access to diverse loan products and foreign exchange services addressing financing needs for individuals and businesses. |
Top clients or who we serve Serves individuals and non-individual customers in Mumbai and nearby regions; operates B2C and B2B financial services. |
Key management Jay Morzaria (Managing Director), Raman Morzaria (Whole-Time Director), Kush Morzaria (Chief Financial Officer), Akanksha Rai (Company Secretary). |
Our journey and innovations Incorporated in 1984, renamed in 1989, promoter takeover in 2001, and commenced full-fledged money changing in 2016; listed on BSE in 2017. |
Where we operate Primarily Mumbai, Maharashtra with corporate office in Jamnagar; services concentrated in Indian domestic market. |
Top products or what we offer Loan products (personal, business, vehicle, loan against property) and authorized full-fledged money changing services via FFMC license. |
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Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue largely from interest income on loans and money changing; subject to economic cycles and credit demand. |
Our industry position Mid-sized NBFC with RBI registration; competes in a growing but challenging credit market with focus on niche loan segments. |
Financial highlights FY 2024-25 revenue Rs 1.57 crore; net loss Rs 1.68 crore; revenue declined by 48.3% compared to previous year. |
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Whats driving growth Focused loan products and money changing services; management measures to control asset quality for future profitability. |
Our future plans Management aims to improve asset quality and profitability; no major changes in business model announced. |
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Our people and values Committed to strong corporate governance and compliance, including anti-harassment policies and whistleblower mechanisms. |
Key challenges ahead Facing profitability pressure, shrinking revenues, and managing non-performing assets in a competitive lending environment. |
Interesting facts Operating as a full-fledged money changer since 2016 with RBI license; publicly listed since 2017. |
Risks and strategy Risks from asset quality and credit losses; management focusing on NPA control and gradual profitability improvement. |
