COMPANY INTELLIGENCE PROFILE
Sanghvi Beauty and Technologies Private Limited
Sanghvi Beauty and Technologies Pvt Ltd is the legal entity operating The Good Glamm Group, a digital-first beauty, personal-care and content-to-commerce conglomerate built around the MyGlamm cosmetics brand, grown via acquisitions of St.Botanica, POPxo, MissMalini, BabyChakra, ScoopWhoop, The Moms Co, Sirona Hygiene, Vidooly and others.
Sanghvi Beauty and Technologies Private Limited operates as The Good Glamm Group, a beauty and personal-care products company. Founded in 2015 and led by Darpan Narendra Sanghvi, it reached unicorn status in November 2021. However, facing financial distress, the company entered the Corporate Insolvency Resolution Process by 2025. It reported conflicting financial figures for FY2023, indicating financial strain. The group's activities involve digital beauty commerce built around the MyGlamm brand and several acquisitions.
AI-generated, may contain errors.
Business Overview
- Sanghvi Beauty and Technologies Pvt Ltd is the legal entity operating The Good Glamm Group, a digital-first beauty, personal-care and content-to-commerce conglomerate built around the MyGlamm cosmetics brand, grown via acquisitions of St.Botanica, POPxo, MissMalini, BabyChakra, ScoopWhoop, The Moms Co, Sirona Hygiene, Vidooly and others.
- Founded/led by Darpan Narendra Sanghvi.
- Reached unicorn status in Nov 2021 on a $150M round led by Prosus and Warburg Pincus (Entrackr).
- Through 2024-2025 faced severe financial distress
- By July 2025 lenders began enforcing charges and selling off individual brands, and the parent entity entered CIRP. Composite/partial — no single audited source covers the full narrative.
Sector & Classification
Conflicting classification across sources: Tofler tags "Computer Related Services" with stated business of salon/spa/beauty/wellness; TheCompanyCheck tags FMCG → Personal Care & Skincare Products, NIC group C13. Actual operating business is D2C beauty & personal-care products/e-commerce (MyGlamm and group brands). Partial/conflicting.
Directors & Key Management
Directors — source notes
Darpan Narendra Sanghvi, DIN 02912102, Director/Shareholder (Founder), current, ~11-year tenure (confirmed — Tofler, TheCompanyCheck). TheCompanyCheck notes 12 former directors have exited over the company's life but does not name them (not obtained). Under CIRP, board powers are ordinarily suspended in favour of the Resolution Professional; RP name/IBBI number/NCLT order date referenced on myglamm.com's own CIRP portal but not extractable from the fetched content — not obtained.
GST Registrations
Primary GSTIN: not obtained. PAN confirmed (AAWCS1087Q); home state inferred as Maharashtra (RoC Pune) but not confirmed via a GSTIN record. Number of registrations and status: not obtained — knowyourgst.com and findgst.in per-PAN lookups did not return data via direct fetch in this pass.
Financials
Sanghvi Beauty and Technologies Private Limited reported revenue of ₹638.5 Cr in FY2023, with YoY growth of 176%. Net worth fell by 22.32%. Total assets stand at ₹1,620.7 Cr with borrowings of ₹379.4 Cr. The company shows signs of financial distress with a CIRP status.
AI-generated, may contain errors.
- FY2023 figures conflict between aggregators, reported with attribution, not reconciled. Tofler: Revenue range ₹100-500 Cr, point estimate ₹300-400 Cr (+91.43% YoY)
- Net worth declined 22.32% YoY
- Total assets ₹1,620.7 Cr
- Borrowings ₹379.4 Cr (+6.51%)
- Equity capital ₹160.2 Cr, Reserves ₹291.1 Cr
- ROE -28.86%, ROCE -1063.43%, reported as-is, ROCE figure looks like a data-quality outlier. TheCompanyCheck: Revenue ₹638.5 Cr (+176% YoY)
- Open RoC charges ₹594.78 Cr, satisfied ₹2.2 Cr.
- EBITDA and PAT locked/premium on both sources — not obtained.
- Standalone vs consolidated basis not explicitly stated by either source — partial/unconfirmed.
- Figures are broadly consistent with a financially distressed entity given the confirmed CIRP status, but no primary audited filing was sourced in this pass.
Funding History
- Nov 2021: raised $150M in a round led by Prosus and Warburg Pincus as the group crossed unicorn valuation, Entrackr — confirmed.
- Earlier rounds since ~2017 are widely reported in Indian startup media with investors historically named including Bessemer Venture Partners, Wipro Consumer Care Ventures, Amazon/Smbhav, Accel, Cavinkare — not independently re-verified against a primary source in this pass, flagged partial/not obtained.
- Tracxn was not queried in this pass.
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| Axis Trustee Services Ltd | ₹362 | |
| aggregated | ₹494.78 Cr | TheCompanyCheck |
| ORBIS Trusteeship Services | ₹100 | |
| Hongkong & Shanghai Banking Corp | ₹60 | |
| HDFC Bank Ltd | ₹40 | |
| Stride One Capital | ₹32 |
- HSBC, 0 Cr — confirmed by both Tofler and TheCompanyCheck
- TheCompanyCheck totals: open charges ₹594.78 Cr, satisfied charges ₹2.2 Cr, recent charge dates 25-Mar-2025 (₹32.33 Cr), 21-Aug-2024 (₹25.18 Cr), 03-Jan-2024 (₹25.25 Cr), 02-Jan-2024 (₹55.00 Cr).
- A Delhi High Court order (12 Jan 2026) cites "HSBC vs Sanghvi Beauty & Technologies Pvt Ltd" as a related precedent, consistent with the HSBC charge.
Credit Ratings
- Not obtained.
- Direct queries to CareRatings and CRISIL Ratings search endpoints returned no matching rationale in this pass (404/no results).
- Given the confirmed CIRP status, a default-category rating on rated bank facilities would be expected, but no specific agency rationale, rating symbol, instrument or date could be verified from a primary source — reported as a gap, not assumed.
Legal & Compliance
- (1) ITAT Pune, 4 Nov 2025 — Assistant Commissioner of Income Tax vs Sanghvi Beauty and Technologies Pvt Ltd, appeal no.
- 2120/PUN/2024, AY 2021-22 (tax matter). (2) ITAT Pune, 21 Oct 2024 — Sanghvi Beauty & Technologies Pvt Ltd vs PCIT (Central), Pune, AY 2018-19 (tax matter). (3) Delhi High Court, 12 Jan 2026 — Rahul Agarwal & Anr vs Syscom Organic World Pvt Ltd, references "HSBC vs Sanghvi Beauty & Technologies Pvt Ltd" as related precedent, financing dispute. (4) NCLT insolvency order — existence confirmed via myglamm.com's own CIRP notice portal, NCLT Order, CIRP Intimation, Replacement-of-IRP Order documents referenced
- Bench, order date and Resolution Professional identity not obtained from fetched content.
Competitive Landscape
- Nykaa, FSN E-Commerce Ventures, — listed, large-cap category leader
- Honasa Consumer (Mamaearth) — listed, large-cap
- Purplle — unicorn-scale online beauty retailer
- Sugar Cosmetics — large, well-funded D2C cosmetics brand
- Wow Skin Science — mid-large D2C personal-care brand
- Plum Goodness, Pureplay Skin Sciences, — mid-size D2C skincare brand.
Frequently Asked Questions
What does Sanghvi Beauty and Technologies Private Limited do?
Sanghvi Beauty and Technologies Pvt Ltd operates The Good Glamm Group, a digital-first beauty, personal-care and content-to-commerce conglomerate built around the MyGlamm cosmetics brand. The company has expanded through acquisitions including St.Botanica, POPxo, MissMalini, BabyChakra, ScoopWhoop, The Moms Co, Sirona Hygiene, and Vidooly.
What is the CIN of Sanghvi Beauty and Technologies Private Limited?
The CIN of Sanghvi Beauty and Technologies Private Limited is U72900PN2015PTC156163.
When was Sanghvi Beauty and Technologies Private Limited incorporated?
Sanghvi Beauty and Technologies Private Limited was incorporated on 12 August 2015.
Where is the registered office of Sanghvi Beauty and Technologies Private Limited located?
The registered office of Sanghvi Beauty and Technologies Private Limited is located at Sanghvi House, 105/2, Shivajinagar, Pune, Maharashtra to 411005.
What is the GSTIN of Sanghvi Beauty and Technologies Private Limited?
The primary GSTIN of Sanghvi Beauty and Technologies Private Limited is not obtained, though the PAN is confirmed as AAWCS1087Q and the home state is inferred as Maharashtra.
Sources
Tofler (tofler.in/sanghvi-beauty-and-technologies-private-limited/company/U72900PN2015PTC156163 and /directors) — identity, capital, directors, financials, charges, subsidiaries. TheCompanyCheck (thecompanycheck.com/company/sanghvi-beauty-and-technologies-private-limited/U72900PN2015PTC156163) — identity, CIRP status, financials, charges, subsidiaries. myglamm.com (company's own domain) — primary confirmation of registered name and current CIRP status via its own stakeholder notice portal. Indian Kanoon (indiankanoon.org) — legal cases (ITAT Pune x2, Delhi HC reference). Entrackr (entrackr.com/tag/good-glamm-group) — funding (2021 Prosus/Warburg Pincus round), brand break-up/lender enforcement news (Jul 2025). CareRatings and CRISIL Ratings direct queries returned no results (noted as gap, not a source).
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.