QARMATEK SERVICES PRIVATE LIMITED

Business Overview

• QarmaTek, brand name of Qarmatek Services Pvt Ltd, founded 2011 by Krunal Shah, is an Ahmedabad-headquartered electronics repair, refurbishment and extended-warranty services company.
• It repairs mobiles, consumer electronics, industrial electronics, home appliances, security devices, and EV chargers
• Runs "Mobex", certified refurbished smartphones, and "Quik-E", rapid retail repair, as sub-brands
• And offers pan-India doorstep pickup/logistics, partnered with FedEx.
• Stated partners/clients include Samsung, Apple, Sony, Vivo, Xiaomi, Tata Play, Jio, Croma, Amazon and AmTrust (insurance).
• Operates from facilities in Ahmedabad, Mumbai, Kolkata and Bengaluru
• Claims a 7-day max turnaround. Recognized as a DPIIT startup, source: TheCompanyCheck. EPFO-registered employee count ~415, source: TheCompanyCheck, FY2024 data. Source: company site qarmatek.com (About Us), TheCompanyCheck.

Sector & Classification

Personal & household services — Repair of computers and personal/household goods (NIC code family S/S2); Tofler additionally tags "Trading", TheCompanyCheck tags "Travel and hospitality/Consumer professional services" as secondary sector labels — likely generic classification noise, primary confirmed activity is electronics repair per company's own site.

Directors & Key Management

GST Registrations

Not obtained. Attempted knowyourgst.com and findgst.in lookups for the primary GSTIN under PAN AAACQ2488H (expected Gujarat/state code 24) but both returned errors/404 and no independent GSTIN page could be retrieved. Home state would be Gujarat (registered address) but exact GSTIN, registration count, and status are not confirmed — do not infer the number.

Financials

• Standalone.
• FY2024, year ended Mar 2024, revenue: ₹51.49 crore (down ~23% YoY) — source: TheCompanyCheck.
• Tofler, viewing what it labels FY March 2025, shows revenue band "₹25-50 cr" with YoY commentary: Total Revenue -28.67%, Net worth +297.32%, Borrowings -97.03%, Assets +11.01%, Operating margin 6.69%, Net profit margin 8.03%.
• The two sources appear to reference different/adjacent fiscal years and are not fully reconcilable from public pages — treat as partial/directional, not exact.
• EBITDA, PAT absolute values, and net worth absolute values are locked behind paid reports on both platforms — not obtained.
• No independent filing (MCA XBRL) was used per source restrictions, so financials are rated partial confidence.

Funding History

• Partial.
• Company's own website (qarmatek.com) states: "Series A funding of $3 million raised in 2022" — single, primary/self-reported, source, not independently corroborated by a press article, search budget exhausted before a second corroborating article could be found.
• Separately, a registered charge shows Caspian Impact Investments Private Limited extended ₹3 crore, registered 31 Jan 2023 (source: Tofler)
• TheCompanyCheck's charges list shows a ₹3 Cr charge from 31 Jan 2023 appearing in BOTH its "open charges" and "satisfied charges", satisfied 21 Nov 2025, tables — an internal inconsistency on that source, flagged as a data conflict.
• Plausible read: Caspian, an impact-investing venture debt/equity firm, provided venture debt around the same period as/adjacent to the stated Series A round, and that debt was later repaid/satisfied in Nov 2025.
• Tracxn was not queried, would only be used for round-name confirmation per source rules, — round name not independently confirmed.

Shareholding

• Not obtained.
• Tofler and TheCompanyCheck both confirm the three operating directors, Krunal Shah, Arun Hattangadi, Dhaval Vakta, are also shareholders, but exact shareholding percentages and full cap table, including any stake held by Caspian Impact Investments or other investors from the 2022 funding round, are locked behind paid reports on both platforms.

Loans & Charges

• Confirmed, two sources, with one internal inconsistency flagged.
• Per TheCompanyCheck: Open charges ₹3 Cr, registered 31 Jan 2023, lender listed generically as "Others"
• Satisfied charges: ₹1.09 Cr, registered 23 Oct 2018, satisfied 31 Dec 2022, and ₹3 Cr, registered 31 Jan 2023, satisfied 21 Nov 2025.
• The ₹3 Cr charge appears in both "open" and "satisfied" buckets on TheCompanyCheck — likely a stale/duplicate listing where the charge was in fact satisfied in Nov 2025
• 09 Cr charge from 2018 also satisfied (Dec 2022)

Related Parties

• Partial.
• No formal related-party-transaction disclosure was accessible, locked behind paid reports.
• Only signal available: nominee director Mihirkumar Arvind Joshi holds directorships in 12+ other companies, e.g., Growit India Private Limited, Alfa Corpuscles Private Limited, Letsdressup Fashion Private Limited, per TheCompanyCheck's common-directorship data — these appear to be unrelated portfolio companies of an investor/nominee rather than a corporate group, but this is inferred, not confirmed.
• No parent/subsidiary/group entity for Qarmatek itself was identified.

Credit Ratings

• Not obtained / none found.
• No CRISIL, ICRA, or CARE rating could be located for Qarmatek Services Private Limited, a CRISIL Ratings site query returned no match.
• Given the company's small-cap borrowing profile, single ~₹3 Cr charge, it likely does not carry a public bank-loan rating.

Legal & Compliance

• Confirmed (absence). No court cases, judgments, or legal proceedings involving "Qarmatek Services Private Limited" were found on Indian Kanoon, search returned no matching results.

Competitive Landscape

• Partial, based on general market knowledge of India's device-repair/refurbishment/extended-warranty space; not independently sourced this session due to search-budget exhaustion — treat as indicative, not verified per-company:
• 1. Servify — device protection/extended-warranty & repair-as-a-service platform, larger scale, has raised $60M+ across rounds, works with Apple/Xiaomi/Samsung.
• 2. Onsitego — extended warranty & appliance/electronics protection plans, comparable-to-larger scale.
• 3. Cashify — refurbished-device marketplace + repair, much larger scale, raised $100M+ cumulatively.
• 4. Yaantra — device repair & refurbishment for OEMs/e-commerce, similar scale segment.
• 5. Attero Recycling — e-waste recycling/refurbishment, adjacent/larger scale, different core model (recycling-led).
• 6. Xiaomi/PickMi-style in-house repair programs and OEM authorized service networks — indirect competitors for repair volume.
• Qarmatek appears to be a smaller/mid-scale player, ₹50 Cr revenue band, ~415 employees, relative to Cashify/Servify's larger, more heavily funded platforms.

Frequently Asked Questions

Sources

Tofler (tofler.in) — company profile, financials tab, directors tab; TheCompanyCheck (thecompanycheck.com) — company profile; Official company website qarmatek.com (home page + About Us page) — business overview, leadership, funding claim, logo; Indian Kanoon (indiankanoon.org) — legal search (no results); CRISIL Ratings site — rating search (no results); knowyourgst.com and findgst.in — GSTIN lookup attempts (both failed, no data retrieved); Falconebiz.com — attempted, returned only a generic search-gateway page with no company-specific data; Google/Bing search — attempted for funding corroboration, returned no relevant results.