Mizzen Ventures - Mizzen Ventures

📊 BSE: 531537 🏢 Diversified Commercial Services 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

Standalone revenue grew from zero to INR 0.18 Cr (INR 18.00 lakhs) in FY25. The digital services segment, operated through the subsidiary Mizzen Digital Private Limited, generated a turnover of INR 0.32 Cr (INR 32.39 lakhs), representing 100% of the subsidiary's contribution to the group's consolidated activities.

Geographic Revenue Split

The company's revenues are highly dependent on clients primarily located in the United States, though the exact percentage split between domestic and international revenue is not disclosed. This geographic concentration makes the company sensitive to US economic cycles and corporate spending.

Profitability Margins

Standalone Profit Before Tax (PBT) margin stood at 45.6% on total income of INR 0.88 Cr, though this was heavily supported by 'Other Income' of INR 0.70 Cr. The subsidiary, Mizzen Digital, reported a Net Profit margin of 8.12% (INR 2.63 lakhs profit on INR 32.39 lakhs turnover).

EBITDA Margin

Standalone PBT was INR 0.40 Cr (INR 40.16 lakhs) in FY25, a significant recovery from a loss of INR 0.63 Cr (INR 63.13 lakhs) in FY24. This turnaround is primarily due to the infusion of other income and the commencement of initial revenue streams.

Capital Expenditure

The company raised INR 45.41 Cr (INR 4,540.91 lakhs) through financing activities, primarily via preferential allotment or private placement of shares. These funds are intended for business operations and infrastructure projects, as total assets reached INR 45.76 Cr (INR 4,575.72 lakhs) by March 31, 2025.

Credit Rating & Borrowing

Not disclosed in available documents. However, the company reported no term loans availed during the year and no working capital limits in excess of INR 5 Cr.

⚙️ Operational Drivers

Raw Materials

Not disclosed as the company is yet to fully carry out large-scale infrastructure operations. Future requirements are expected to include construction materials like steel and cement.

Capacity Expansion

The company is in a pre-operational or early-operational phase for its main infrastructure segment. It has established a 100% subsidiary, Mizzen Digital Private Limited, to handle technology-driven services, indicating a diversification of operational capacity.

Raw Material Costs

Not disclosed in available documents as the company is in the early stages of operationalizing its business model.

Manufacturing Efficiency

Not applicable as the company is currently focused on infrastructure development and digital services rather than traditional manufacturing.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

The company plans to achieve growth by leveraging the pivotal role of the infrastructure and construction industry in economic development. Strategy includes utilizing the newly raised capital of INR 45.41 Cr for project execution and expanding the digital services footprint through its subsidiary, Mizzen Digital Private Limited, targeting the US market.

Products & Services

Infrastructure construction works, infrastructural activities, and digital technology services provided through the subsidiary.

Brand Portfolio

Mizzen Ventures Limited (formerly Jyothi Infraventures Limited) and Mizzen Digital Private Limited.

New Products/Services

Digital services via Mizzen Digital Private Limited, which contributed INR 0.32 Cr in its first reporting period.

Market Expansion

The company is targeting the US market for its digital services and the domestic Indian market for its infrastructure and construction activities.

Strategic Alliances

The company operates Mizzen Digital Private Limited as a 100% subsidiary. No other joint ventures or associates were applicable for the reporting period.

🌍 External Factors

Industry Trends

The infrastructure industry is seeing a trend toward increased government spending and economic development projects. The company is positioning itself to take advantage of this growth while diversifying into digital services to capture technology-driven shifts in the global economy.

Competitive Landscape

The company operates in a highly competitive infrastructure sector and a global digital services market, competing with established tech firms for US-based contracts.

Competitive Moat

The company's potential moat lies in its ability to integrate infrastructure expertise with digital services. However, this is currently in the early stages of development and its sustainability depends on successful project execution and talent retention.

Macro Economic Sensitivity

Highly sensitive to US corporate governance and public disclosure requirements, which increase compliance costs and add uncertainty to the digital service segment's operations.

Consumer Behavior

Shift toward digital transformation among corporate clients in the US is driving demand for the subsidiary's services.

Geopolitical Risks

Trade barriers or changes in US-India professional service regulations could impact the subsidiary's delivery model.

⚖️ Regulatory & Governance

Industry Regulations

Subject to the Companies Act 2013, SEBI (Depositories and Participants) Regulations 2018, and Ind AS accounting standards. Infrastructure projects are subject to local construction and environmental norms.

Taxation Policy Impact

The subsidiary Mizzen Digital had a tax provision of INR 1.30 lakhs on a PBT of INR 3.93 lakhs, representing an effective tax rate of approximately 33%.

Legal Contingencies

The company has disclosed the existence of pending litigations that could impact its financial position, although the specific aggregate value of these claims is not provided in the summary reports.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the commencement of full-scale operations for the parent company, which is currently in a 'yet to carry operations' status for its main segments.