CHERISE (INDIA) PRIVATE LIMITED

Business Overview

Cherise (India) Pvt Ltd is a Mumbai-headquartered (manufacturing in Wagholi, Pune) "farm-to-cup" beverage and vending-machine company founded by Parimal K. Shah, commercially launched Jan 2020. It manufactures tea, coffee, soups and instant beverage products (brands: Tapri, SpecialTeas, BrewDays, Bean Lovers, Sunfields) and IoT/Android-enabled smart vending machines (Cherise Tapri, Cherise Kettle, Cherise Buddy) sold to offices, hotels, hospitals and educational institutions across Delhi NCR, Mumbai, Pune, Kolkata, Goa, Hyderabad, Nagpur and Ahmedabad. DPIIT-recognised startup. GST registration classifies it as a "Manufacturer" of coffee/tea vending machines. Sources: Tracxn, TheCompanyCheck, company website (cheriseglobal.com / website.cheriseglobal.com / cherisetapri.com), GST search index.

Sector & Classification

NIC/industry classification varies by source: Tofler lists "Business Services (Food, beverages and tobacco products; Tea and other beverages vending machines)"; TheCompanyCheck lists "Machinery and Equipment / Process Machinery & Industrial Equipment" (source conflict — likely reflects dual business lines: beverage manufacturing + vending-machine hardware)

Directors & Key Management

GST Registrations

Partial/multiple registrations found, PAN AAHCC8654L common to both: (1) 27AAHCC8654L1Z2 — Maharashtra (home state, matches registered address) — found via search-engine GST index; (2) 07AAHCC8654L1Z4 — Delhi — found via a GST lookup mirror (gst-jamku). GST registration date reported as 11-12-2018, nature of business "Manufacturer" of coffee/tea vending machines. Could not independently corroborate exact status (Active/Cancelled) via knowyourgst.com or mastersindia.co individual GSTIN pages (both attempts returned no queryable record — 404 or generic tool page), so GSTIN statuses are "not obtained" and should be treated as partial, not confirmed. At least 2 state registrations exist given Maharashtra HQ + Delhi NCR sales presence.

Financials

FY2024-25 (year ended 31 Mar 2025), entity-level, standalone (per TheCompanyCheck/Tracxn, both citing MCA-filed financials — treat as partial, not primary-filing-verified): Revenue ≈ ₹140.01 Cr (TheCompanyCheck) / "₹100-500 Cr band, 55% YoY growth" (Tracxn) — directionally consistent. EBITDA CAGR (1yr) ~86% (Tracxn); absolute EBITDA and PAT figures were paywalled/locked on TheCompanyCheck ("not obtained"). Tracxn separately surfaced a Net Profit figure of "₹2,955 Cr" which is implausible relative to reported revenue and is almost certainly a scraping/unit error — excluded as unreliable, PAT = "not obtained." Net worth and total borrowings: not obtained as clean confirmed figures (see Charges below for lender-level debt detail). Employees: ~141 (as of Apr 2024, TheCompanyCheck).

Funding History

The legal entity "Cherise (India) Private Limited" itself is shown as largely founder/angel/enterprise funded rather than VC-round funded on Tracxn's legal-entity page (see shareholding). A related/associated consumer brand "Cherise Tapri" (same corporate group, Series A stage per Tracxn) is reported to have raised ~$8.49M–$14.4M across 4 rounds from investors including Nexus Venture Partners-linked "Nexus Equity Growth Fund," Serene Alpha, Lords Multigrowth Fund, Shiv Aum Steels, Baywatch and Rush Techmart Solutions — figures vary between two Tracxn snippets ($8.49M vs $14.4M), so treat as directional only and attribute to the "Cherise Tapri" brand entity, not double-count as this CIN's own fundraising (entity-confusion risk flagged per instructions). Round-name/date detail beyond this was not obtained.

Shareholding

Partial / conflicting across two Tracxn snapshots (dates likely differ): Snapshot A — Founders 59.61%, Funds 9.35%, Angels 11.28%, Enterprises 16.50%. Snapshot B (dated "as of 1 May 2026") — Founders 49.99%, Funds 9.07%, Angels 19.23%, Parent entities 0.60%, Enterprise 20.09%, Other people 1.02%. Named shareholders include founders Parimal K. Shah and Kalpesh Shah Mukundray, plus fund investors Serene Alpha, Nexus Equity Growth Fund, and Lords Multigrowth Fund. Given the internal inconsistency, treat percentages as approximate/partial, not confirmed.

Loans & Charges

Per TheCompanyCheck (single source — partial): Open charges totaling ≈ ₹161.91 Cr; satisfied/closed charges ≈ ₹36.5 Cr. Major lenders on open charges: Canara Bank (₹20 Cr), Tata Capital Financial Services (₹10 Cr), Yes Bank (₹3.05 Cr), and other lenders collectively (₹128.87 Cr). Not corroborated by a second source — flag as partial.

Related Parties

Tracxn (legal-entity page) indicates cross-directorships/group links with "Cherise Global Private Limited" (also shown as a 1-subsidiary relationship on TheCompanyCheck) and "M K Jokai Tea Private Limited." Brand-level related entities under the same promoter group: "Cherise" and "Cherise Tapri." These are single-source (Tracxn) mentions — partial, not independently confirmed against MCA-style filings.

Credit Ratings

Infomerics Ratings Limited assigned "IVD-BB+" (Stable outlook) to long-term bank facilities of Cherise (India) Private Limited, per a rating rationale PDF dated 27 May 2025 (infomericstorage.blob.core.windows.net). Note: Infomerics is a SEBI-registered credit rating agency but is not one of CRISIL/ICRA/CARE named in the brief — no CRISIL/ICRA/CARE rating was found for this entity ("not obtained" for those three specifically).

Legal & Compliance

No relevant Indian Kanoon litigation found for this entity. A search surfaced an unrelated 2020 admiralty case mentioning a ship named "MV Stella Cherise" (M/S. Unicorn Maritimes (India) Pvt Ltd vs Valency International Trading) — this is a different, unrelated matter (a cargo vessel name), not litigation involving Cherise (India) Private Limited. Legal = "none found."

Competitive Landscape

Named competitors/peers in the smart tea/coffee vending-machine and beverage space (search-derived, unverified against a second source — partial): Cafe JEI (vending machines, similar scale, India), Arya (vending machines, similar scale), Global Vending Service, New England Coffee, PROformance Vend (USA, larger/international scale). Broader FMCG-adjacent instant-beverage peers by category (not source-confirmed as direct competitors, offered as market context): established players like Nescafe/Nestlé vending and Tata Consumer's vending arm operate in adjacent segments at much larger scale.

Frequently Asked Questions