Registration Trend, lesson 14 of 50
Maharashtra Company Registration Trend: FY 2016–17 Onwards
In short
Maharashtra’s Company registrations from FY 2016–17 onward: annual figures, national share, incomplete periods and practical interpretation for first-time founders.
Website calculation period: Financial-year research starts on 1 April 2016 (FY 2016–17). January–March 2016 is excluded from website research calculations. Each full financial year runs from 1 April to 31 March. FY 2021–22 has three missing source months; FY 2026–27 covers April–September 2026 only. Missing months are not estimated.
Company-only figures: This research includes Private Limited Companies, One Person Companies (OPCs), Public Companies and other Companies recorded in the Companies sheets. LLPs are not included. State-wise analysis cannot be derived from LLPINs because they do not contain a state code. LLP location analysis requires separately verified address or State fields. Foreign Companies are also excluded.
Maharashtra recorded 41,623 Company registrations in FY 2025–26, compared with 17,506 in FY 2016–17. This state profile studies the financial-year pattern, Maharashtra’s share of national Company registrations and what the figures mean for first-time founders and researchers.
Companies includes Private Companies, OPCs and Public Companies. LLPs and Foreign Companies are excluded. The latest available period is April–September 2026. Financial years run from 1 April to 31 March; this series begins on 1 April 2016.
Maharashtra Company registrations by financial year
| Financial year | Companies | National share |
|---|---|---|
| FY 2016–17 | 17,506 | (17.89%) |
| FY 2017–18 | 19,466 | (18.01%) |
| FY 2018–19 | 23,017 | (18.58%) |
| FY 2019–20 | 22,685 | (18.49%) |
| FY 2020–21 | 28,060 | (18.06%) |
|
FY 2021–22 9 available months |
23,249 | (18.52%) |
| FY 2022–23 | 29,078 | (18.29%) |
| FY 2023–24 | 32,583 | (17.59%) |
| FY 2024–25 | 31,548 | (17.42%) |
| FY 2025–26 | 41,623 | (16.81%) |
|
FY 2026–27 April–September only |
21,939 | (16.25%) |
National share means Maharashtra’s identified Company registrations divided by all dated Company records for the same period in the master, including records whose state remains unassigned. Click a financial year to see its national entity split and state comparison.
Registrations more than doubled, while national share declined
From FY 2016–17 to FY 2025–26, Maharashtra’s annual Company registrations increased by (137.76%), from 17,506 to 41,623. Its national share moved from (17.89%) to (16.81%).
These findings are compatible: Maharashtra registered substantially more Companies, while Company registrations elsewhere collectively grew faster. A declining share alone is therefore insufficient evidence of a contracting state market.
Maharashtra ranks first among states/UTs by identified Company registrations in every available financial-year period shown here. That ranking measures registration volume; it does not establish the highest business survival, investment or employment.
FY 2025–26: a strong increase over the previous year
Maharashtra’s count increased from 31,548 in FY 2024–25 to 41,623 in FY 2025–26, a rise of 10,075 Companies (31.94%). Both periods cover complete April–March financial years.
For comparison with Uttar Pradesh, Delhi, Karnataka and other states/UTs, read the national state-wise Company registration report. Large counts and high growth rates answer different research questions: market size should be examined alongside growth and activity composition.
FY 2026–27: April–September 2026
Maharashtra recorded 21,939 Company registrations from 1 April to 30 September 2026, representing (16.25%) of the national Company records for the same six months.
This is a partial financial year. It should not be described as a decline against the full FY 2025–26 count, and simply doubling it would be an assumption-based scenario. The FY 2026–27 national report provides the corresponding six-month entity totals.
Why FY 2021–22 needs a prominent qualification
The master contains only nine available source months for FY 2021–22. November 2021, January 2022 and March 2022 are unavailable. Maharashtra’s recorded count of 23,249 therefore represents those nine months, not a complete financial year.
The apparent fall from FY 2020–21 must not be presented as a measured contraction. Similarly, growth from this incomplete base into FY 2022–23 would be misleading. Missing months are not zero registrations and have not been estimated.
MH and PN are combined, but neither is a city-level research result
The state mapping combines validated CIN jurisdiction aliases belonging to Maharashtra, including MH and PN, together with newer validated Maharashtra jurisdiction aliases observed in the records. Counting jurisdiction codes as separate states would split the total incorrectly.
These state figures do not provide separate counts for Mumbai, Navi Mumbai, Thane or Pune. A Registrar’s jurisdiction can span several districts. Reliable city research requires a separately validated address or district analysis. The State from CIN methodology explains missing identifiers, historical aliases and the limits of registration geography.
Why LLP state-wise figures are not included
State-wise analysis cannot be derived from LLPINs because they do not contain a state code. LLP state analysis requires separately verified address or State fields. We have therefore not presented these Company figures as Maharashtra’s combined Company-and-LLP registrations.
The national Pvt Ltd vs LLP research provides a separate comparison of legal structures. National LLP growth must not be treated as evidence of Maharashtra’s LLP growth.
Major cities and regional centres in Maharashtra
Cities and regional centres to keep in view include Mumbai, Navi Mumbai, Thane, Pune, Nagpur, Chhatrapati Sambhajinagar (Aurangabad), Nashik.
These places provide local context; the list is representative, not a ranking by Company registrations. The financial-year figures above are for the state/UT as a whole. No city-wise registration counts or shares have been calculated here.
The current and earlier names Chhatrapati Sambhajinagar (Aurangabad) are shown together for reader recognition. Mumbai, Navi Mumbai and Thane should not be treated as interchangeable city labels in a future address-level analysis.
Related reading for founders in these locations
City names link to a dedicated guide where available; otherwise they open that city’s entry in the city directory. Directory entries provide navigation and state context, not city-level statistics. For practical preparation, read registered-office address guidance, the recurring cost of running a Company and Company Registration in India by City. For the filing steps, use the Company Registration guide, Limited Liability Partnership Registration guide or One Person Company Registration guide. Compare PVT LTD, LLP and OPC before choosing.
The same Company-only scope applies throughout this profile. Private Companies, OPCs and Public Companies are included; LLPs are excluded.
Nature of Business: Companies registered in Maharashtra
These broad business activity groups describe the principal activity recorded at incorporation. They cover Private Companies, OPCs, Public Companies and other Companies in the Companies sheets; LLPs and Foreign Companies are excluded. Registration activity does not establish present operations, revenue or business survival.
FY 2025–26: latest complete financial year
| Nature of Business | Companies | Share |
|---|---|---|
| Wholesale and Retail Trade | 7,021 | (16.87%) |
| Manufacturing | 6,593 | (15.84%) |
| IT, Software, Information and Communication | 5,824 | (13.99%) |
| Professional, Business and Consultancy Services | 5,132 | (12.33%) |
| Healthcare and Social Work | 2,951 | (7.09%) |
| Construction and Infrastructure | 2,719 | (6.53%) |
| Agriculture, Forestry and Fishing | 2,084 | (5.01%) |
| Education | 1,744 | (4.19%) |
| Real Estate | 1,486 | (3.57%) |
| Transport, Storage and Logistics | 1,363 | (3.27%) |
| Finance and Insurance | 1,316 | (3.16%) |
| Community, Personal and Other Services | 1,167 | (2.80%) |
| Energy, Utilities and Waste | 1,092 | (2.62%) |
| Hotels, Restaurants and Food Service | 992 | (2.38%) |
| Mining and Quarrying | 118 | (0.28%) |
| Other / Unclassified | 21 | (0.05%) |
| Total | 41,623 | (100.00%) |
The largest recorded group was Wholesale and Retail Trade, with 7,021 Companies (16.87%) of the state/UT total for this period.
FY 2026–27: April–September 2026 only
| Nature of Business | Companies | Share |
|---|---|---|
| Wholesale and Retail Trade | 3,847 | (17.53%) |
| IT, Software, Information and Communication | 3,477 | (15.85%) |
| Manufacturing | 3,393 | (15.47%) |
| Professional, Business and Consultancy Services | 2,747 | (12.52%) |
| Healthcare and Social Work | 1,694 | (7.72%) |
| Construction and Infrastructure | 1,380 | (6.29%) |
| Education | 794 | (3.62%) |
| Real Estate | 758 | (3.46%) |
| Finance and Insurance | 715 | (3.26%) |
| Transport, Storage and Logistics | 693 | (3.16%) |
| Energy, Utilities and Waste | 651 | (2.97%) |
| Agriculture, Forestry and Fishing | 613 | (2.79%) |
| Community, Personal and Other Services | 580 | (2.64%) |
| Hotels, Restaurants and Food Service | 512 | (2.33%) |
| Mining and Quarrying | 73 | (0.33%) |
| Other / Unclassified | 12 | (0.05%) |
| Total | 21,939 | (100.00%) |
The largest recorded group was Wholesale and Retail Trade, with 3,847 Companies (17.53%) of the state/UT total for this period.
Method: Deduplicated MCA Companies master, both Companies sheets; registration dates allocate financial years and validated CIN jurisdiction codes assign states/UTs. Percentages use all dated Companies assigned to that state/UT in the same period, including Other / Unclassified. Explicit activity codes are used where available, otherwise the CIN industry code is used. Legacy and newer activity divisions are mapped to common broad groups using each source workbook’s reporting period (newer Company classification from February 2023). Broad groups support comparison; they do not identify every specific service such as AI or digital marketing. These two tables use periods after the classification change. Unassigned locations are excluded rather than guessed. Figures checked on 19 October 2026.
For the longer financial-year registration history and location limitations, read the Maharashtra state/UT profile. Compare the national business activity research.
What this means for first-time founders
A large registration market may offer useful context about business formation, but it cannot tell you whether your own Business needs a Company or which structure will suit it. Ownership, funding, recurring costs and the ability to maintain records should guide that decision.
Before choosing a structure, read Pvt Ltd vs LLP vs OPC. Understand the recurring cost of running a Company and the practical requirements for a registered-office address. These guides address decisions that a state registration ranking cannot resolve.
What the research can support
For readers and researchers, the series identifies annual registration volume, regional share and changes in that share. For people serving new businesses, it provides a measure of potential market entry. It does not establish customer spending, creditworthiness, business survival, revenue, jobs or the number of Companies currently operating.
Sector composition is another separate dimension. The national business activity research supplies context, but its national rankings should not be described as Maharashtra-specific activity rankings.
Source and methodology
Source: Ministry of Corporate Affairs monthly incorporation workbooks compiled in the deduplicated CompanysRegistration.com master covering January 2016–September 2026. Both Companies sheets are analysed together. Registration dates allocate records to financial years; records without usable dates cannot be allocated.
State is derived from valid CINs using validated jurisdiction mappings. Companies with missing or invalid CINs remain unassigned rather than being guessed into a state. Identified Maharashtra figures may therefore omit unresolved Maharashtra records. Original source fields are preserved. Registration jurisdiction is not proof of every operating location or of the Company’s current address.
All full financial years shown have twelve available source months except FY 2021–22. FY 2026–27 covers April–September 2026 only. This article was checked against the research calculations on 18 October 2026. See the Ministry of Corporate Affairs, state-data methodology and Registration Trend overview.
Reviewed by CS. Bhavik Hariyani
If you’re a First-Time Founder, choose a structure that suits your Business. Before registering, understand how much you will need to spend every year on Annual Maintenance and Compliance.
Continue through the State-wise section
State-wise directory: all 36 profiles · Uttar Pradesh profile
This page explains the law in simple words, for learning. It is not legal advice. Rules, fees and due dates change, so check the official source before you file. Spotted an error? Tell us on WhatsApp, and the page will be corrected.
