HEADSUP
Heads UP Ventures financials
- Market cap
- ₹15 Cr
- Sector
- Textiles
What Heads UP Ventures Limited does
Incorporated in 2011 and originally known as Mandhana Retail Ventures Limited, the company was the exclusive brand licensee-retailer of 'Being Human' menswear and womenswear apparel in India (license with the Being Human Foundation valid till March 2020), selling through its own exclusive brand outlets (EBOs), shop-in-shop (SIS) counters inside department stores such as Shoppers Stop and Lifestyle, franchisee outlets, distributors and e-commerce partners like Myntra, plus exports to the Middle East, Mauritius and Nepal. The company has since been renamed Heads Up Ventures Limited; its FY2024-25 annual report states there was no change in the nature of business during the year but discloses no updated store network, product range or segment detail, and records only 2 permanent employees on its rolls as of 31 March 2025.
Segments
- Exclusive Brand Outlets (EBO)
- Shop-in-Shop (SIS)
- Franchisee outlets
- Distributors
- E-Commerce
- Exports
- Domestic points of sale (total)
- 443 (as of 31 Dec 2017)
- Exclusive Brand Outlets (EBO)
- 31 (as of 31 Dec 2017)
- Shop-in-Shop (SIS) counters
- 374 (as of 31 Dec 2017)
- Retail area (EBOs & Franchisees)
- 70,000+ sq ft (FY18)
- Annual sales volume
- 2 million+ pieces p.a. (FY17)
- Franchisee outlets
- 28 (as of 31 Dec 2017)
Quarterly results
Q1 FY27: revenue down 100.0%, net profit down 101.8% against the same quarter last year.
| Line item | Q1 FY25 | Q4 FY25 | Q1 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 1 | 12 | 0 | 3 | 0 −100% |
| EBITDA | -0 | 1 | 2 | -1 | -3 −659% | -0 −102% |
| Net profit | -0 | 1 | 3 | -1 | -3 −1257% | -0 −102% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −35.1% 1Y
1Y: ₹10.77 on 10 Sept 2025 → ₹6.99. High ₹11.72 (8 Oct 2025), low ₹6.05 (30 Mar 2026).
Balance sheet
| Year ending | FY25 | FY26 |
|---|---|---|
| Equity capital | — | ₹22 Cr |
| Reserves | — | ₹-7 Cr |
| Borrowings | — | ₹0 Cr |
| Other liabilities | — | ₹30 Cr |
| Total liabilities | — | ₹45 Cr |
| Fixed assets | — | ₹0 Cr |
| Capital work in progress | — | ₹0 Cr |
| Investments | — | ₹0 Cr |
| Other assets | — | ₹45 Cr |
| Total assets | — | ₹45 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +0.23 pp while DIIs trimmed −0.22 pp. The shareholder count shrank 5% to 18,979.
- Promoters
- 13.6%
- FIIs
- 0.4%
- Public
- 86.0%
Since Jun 2025
- Public +0.23 pp
- DIIs −0.22 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public went from 66.4% to 86.0% — +19.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 33.2%, FIIs 0.4%, Public 66.4%.Dec '23: Promoters 29.1%, FIIs 0.4%, Public 70.5%.Mar '24: Promoters 13.8%, FIIs 0.4%, Public 85.8%.Jun '24: Promoters 13.6%, FIIs 0.4%, Public 86.0%.Sep '24: Promoters 13.6%, FIIs 0.4%, DIIs 0.2%, Public 85.8%.Dec '24: Promoters 13.6%, FIIs 0.4%, DIIs 0.2%, Public 85.8%.Mar '25: Promoters 13.6%, FIIs 0.4%, DIIs 0.2%, Public 85.8%.Jun '25: Promoters 13.6%, FIIs 0.4%, DIIs 0.2%, Public 85.8%.Sep '25: Promoters 13.6%, FIIs 0.4%, DIIs 0.2%, Public 85.8%.Dec '25: Promoters 13.6%, FIIs 0.4%, Public 86.0%.Mar '26: Promoters 13.6%, FIIs 0.4%, Public 86.0%.Jun '26: Promoters 13.6%, FIIs 0.4%, Public 86.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Heads UP Ventures Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Harshawardhan Hanmant Sabale | 15.99% | unchanged |
| Mahansynthetic Textiles Private Limited | 4.30% | unchanged |
| Sudha Biharilal Mandhana | 3.17% | unchanged |
| Purushottam C Mandhana HUF | 3.09% | unchanged |
| Sangeeta Manish Mandhana | 2.95% | unchanged |
| Marutinandan Capital Private Limited | 2.89% | unchanged |
| Yanamadala Rajeswara Rao | 1.08% | unchanged |
| Chanda Shyamsunder Jaju | 0.03% | unchanged |
| Bhagwati Madanlal Chandak | 0.01% | unchanged |
| Priyavrat Purushottam Mandhana | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Heads UP Ventures Limited
Guides on how to read this kind of business and the numbers that matter.