India's Richest People 2026 edition · 1 director · Source: Hurun India
- #602 Mehul Kanubhai Patel & family ₹5,600 Cr
Revenue · FY 2025
₹7.29 Lakh
▼ 14% YoY
Net loss · FY 2025
₹38,726
Net margin -5.3%
EBITDA · FY 2025
-₹38,726
EBITDA margin -5.3%
Company age
58 yrs
Est. 1968
Directors on board
4
As per MCA filings
Last financials
Mar 2025
Balance sheet date
Last AGM
30 Sep 2025
Annual general meeting
Company status
Active
MCA master data
About Banco Foundation
Data last updated:
Banco Foundation is a private not for profit company based in Vadodara, Gujarat, India. It operates in the primary and secondary education segment of the education and learning sector. It was incorporated on 01 March 1968 and has been in existence for over 58 years.
Its director Mehul Kanubhai Patel and family are #602 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U74990GJ1968NPL001494.
It is led by directors including Upendra Raghunath Joshi and Sharan Mehul Patel.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bil Nr.Bhaill Railway Station Padra Road, Vadodara, Gujarat, India – 391410.
As per the financials filed for FY 2025, the company reported a revenue of ₹7.29 Lakh, a decline of 14% compared to the previous year. For the same year it recorded a net loss of ₹38,726 (net margin -5.3%) and EBITDA of -₹38,726 (EBITDA margin -5.3%). Revenue has declined at a compounded annual rate (CAGR) of 3% over three years and 5% over five years.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bancoindia.com.
Company details
CIN U74990GJ1968NPL001494
Registration Number 001494
Incorporation Date 01 March 1968
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Upendra Raghunath Joshi Director Sharan Mehul Patel Director Manish Ashokbhai Dave Director Recognitions & Rankings of Banco Foundation
Contact details
Banco Foundation's registered office is in Vadodara, Gujarat. Its website is bancoindia.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressBil Nr.Bhaill Railway Station Padra Road, Vadodara, Gujarat, India – 391410
- IndustryEducation & Learing, Primary & Secondary Education
To see the full contact details of Banco Foundation, buy the company report.
Comprehensive company report
Banco Foundation - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Financials of Banco Foundation
FY 2025 filings availableBanco Foundation reported revenue of ₹7.29 Lakh (down 14% YoY) for FY 2025.
Revenue · FY 2025
₹7.29 Lakh ▼ 14%
Net loss · FY 2025
₹38,726 margin -5.3%
EBITDA · FY 2025
-₹38,726 margin -5.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 14%
3 years · compounded
▲ 3%
5 years · compounded
▼ 5%
EBITDA CAGR growth
1 year
▼ 120%
3 years · compounded
▲ 50%
5 years · compounded
▼ 6%
Revenue has declined at a compounded annual rate (CAGR) of 5% over five years, including a 14% fall in the latest year. EBITDA fell 120% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹38,726 | ||||
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| Net Profit (PAT) | -₹38,726 | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | -5.3% | ||||
| Net Profit Margin | -5.3% | ||||
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To see the full financial statements and ratios of Banco Foundation, buy the company report.
Board of directors of Banco Foundation
Banco Foundation has 4 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Upendra Raghunath Joshi Also directs: K K Patel Foundation, Banco New Energy Cooling Systems Limited | Director | 12 Dec 2022 | 3 Years 10 Months | Current |
| Sharan Mehul Patel | Director | 12 Dec 2022 | 3 Years 10 Months | Current |
| Manish Ashokbhai Dave Also directs: K K Patel Foundation | Director | 12 Dec 2022 | 3 Years 10 Months | Current |
| Mehul K Patel | Director | 01 Sep 1998 | 28 Years 1 Months | Current |
Auditor
Banco Foundation is audited by PRADIP J SHAH & CO for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PRADIP J SHAH & CO | FY 2020 | 112845W |
Shareholding
The shareholding of Banco Foundation is on record for 3 financial years, the latest being FY 2019, split between promoters, domestic institutions and public shareholders.
| Shareholder category | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Public |
To see the full shareholding pattern of Banco Foundation, buy the company report.
Legal cases
No court or tribunal cases involving Banco Foundation are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Banco Foundation; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Banco Foundation; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Banco Foundation has 11 board changes on record since 1998: 4 appointments and 7 cessations. The latest: Manish Ashokbhai Dave ceased to be Additional Director on 29 Sep 2023.
AGM
Banco Foundation last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Banco Foundation has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Manish Ashokbhai Dave ceased to be Additional Director.
Ceased
Sharan Mehul Patel ceased to be Additional Director.
Ceased
Upendra Raghunath Joshi ceased to be Additional Director.
Ceased
Kanubhai Kashibhai Patel ceased to be Director.
Appointed
Manish Ashokbhai Dave was appointed as Director.
Appointed
Sharan Mehul Patel was appointed as Director.
Appointed
Upendra Raghunath Joshi was appointed as Director.
Ceased
Hasumati Kanubhai Patel ceased to be Director.
Ceased
Samir Kanubhai Patel ceased to be Director.
Ceased
Vimal Kanubhai Patel ceased to be Director.
2 earlier events are in the company report.
News
Frequently asked questions
Banco Foundation is an active private not for profit company based in Vadodara, Gujarat, India. The company works in primary and secondary education, within the education and learning industry. It was incorporated on 01 March 1968 (58+ years old) and is registered under CIN U74990GJ1968NPL001494.
Banco Foundation has 4 current directors:
- Upendra Raghunath Joshi - Director
- Sharan Mehul Patel - Director
- Manish Ashokbhai Dave - Director
- Mehul K Patel - Director
The latest financial statements of Banco Foundation on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Banco Foundation is U74990GJ1968NPL001494. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Banco Foundation was incorporated on 01 March 1968, making it 58+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Manish Ashokbhai Dave ceased to be Additional Director on 29 Sep 2023. Sharan Mehul Patel ceased to be Additional Director on 29 Sep 2023. Upendra Raghunath Joshi ceased to be Additional Director on 29 Sep 2023. Banco Foundation has 11 board changes on record in total.
Banco Foundation can be reached through the website bancoindia.com. Its registered office is in Vadodara, Gujarat, India.
The registered office of Banco Foundation is at Bil Nr.Bhaill Railway Station Padra Road, Vadodara, Gujarat, India – 391410.
Banco Foundation operates in the education and learning industry, in the primary and secondary education segment.
The compliance status of Banco Foundation is compliant as of 19 September 2026. The company is actively filing with the Registrar of Companies.