About Hmax Money Exchange Private Limited
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Hmax Money Exchange Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the forex services segment of the financial services sector. It was incorporated on 18 September 2008 and has been in existence for over 18 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67120MH2008PTC301847. Its GSTIN is 27AADCG4192K1ZB (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹50 Lakh. It was formerly known as Gadiya Shares and Forex Private Limited. It is led by directors Kalpesh Prakash Gadiya and Saranjeet Jitendra Singh.
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 Shop No. 1 & 2 Ground Floor 280 S B S Road Opp Lalit Restaurant Cst Fort, Mumbai, Maharashtra, India – 400001.
As per the financials filed for FY 2025, the company reported a revenue of ₹16.82 Cr, a decline of 88% compared to the previous year. For the same year it recorded a net profit of ₹71,314 (net margin 0%) and EBITDA of ₹2.73 Lakh (EBITDA margin 0.2%). Revenue has declined at a compounded annual rate (CAGR) of 61% over three years and 48% over five years.
The company is associated with 1 brand: Hmax.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hmaxforex.com.
Company details
CIN history
Hmax Money Exchange has one previous CIN (Corporate Identification Number): U67120TN2008PTC069318. The current CIN is U67120MH2008PTC301847, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67120MH2008PTC301847 | Current |
| U67120TN2008PTC069318 | Previous |
Contact details
Hmax Money Exchange Private Limited's registered office is in Mumbai, Maharashtra. Its website is hmaxforex.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressShop No. 1 & 2 Ground Floor 280 S B S Road Opp Lalit Restaurant Cst Fort, Mumbai, Maharashtra, India – 400001
- IndustryFinancial Services, Forex Services
To see the full contact details of Hmax Money Exchange Private Limited, buy the company report.
- 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
Brands
Hmax Money Exchange operates one associated brand: Hmax. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Foreign exchange services, including currency exchange and remittances, are offered in India. | hmaxforex.com |
Business activity
The main business activity of Hmax Money Exchange is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Hmax Money Exchange Private Limited, buy the company report.
Financials of Hmax Money Exchange Private Limited
FY 2025 filings availableHmax Money Exchange Private Limited reported revenue of ₹16.82 Cr (down 88% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 48% over five years, including a 88% fall in the latest year. EBITDA fell 46% 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 | ₹2.73 Lakh | ||||
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| Net Profit (PAT) | ₹71,314 | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.2% | ||||
| Net Profit Margin | 0% | ||||
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To see the full financial statements and ratios of Hmax Money Exchange Private Limited, buy the company report.
Board of directors of Hmax Money Exchange Private Limited
Hmax Money Exchange has 2 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kalpesh Prakash Gadiya | Director | 01 Jan 2016 | 10 Years 9 Months | Current |
| Saranjeet Jitendra Singh Also directs: Moro Realty LLP, We Broker Technologies Solutions LLP | Director | 22 Feb 2022 | 4 Years 8 Months | Current |
Peer comparison
Hmax Money Exchange Private Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Arc Forex & Travels Private Limited | ₹17 Cr (FY 2025) | -28.0% | Kolkata, West Bengal, India | |||
| Meets Forex Private Limited | ₹17 Cr (FY 2024) | 11.0% | New Delhi, Delhi, India | |||
| Sab Travel & Financial Services Private Limited | ₹17 Cr (FY 2025) | -24.0% | Kolkata, West Bengal, India | |||
| Opel Forex Private Limited | ₹16.87 Cr (FY 2024) | -54.0% | Navsari, Gujarat, India | |||
| Hmax Money Exchange Private Limitedthis company | ₹16.82 Cr (FY 2025) | ₹71,314 | 0% | -88.0% | Mumbai, Maharashtra, India | |
| Istuti Forex Private Limited | ₹16.69 Cr (FY 2024) | 84.0% | Delhi, India | |||
| Gulsan Forex and Travels Private Limited | ₹16.65 Cr (FY 2025) | -64.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Hmax Money Exchange Private Limited, buy the company report.
Auditor
Hmax Money Exchange Private Limited is audited by PRATIK V JAIN & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PRATIK V JAIN & CO | FY 2023 | 146885W |
Shareholding
The shareholding of Hmax Money Exchange Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Hmax Money Exchange Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving Hmax Money Exchange Private Limited 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 Hmax Money Exchange Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Hmax Money Exchange has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCG4192K1ZB | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Hmax Money Exchange Private Limited, buy the company report.
Recent activity
Hmax Money Exchange Private Limited has 7 board changes on record since 2014: 2 appointments and 5 cessations. The latest: Saranjeet Jitendra Singh was appointed as Director on 22 Feb 2022.
Frequently asked questions
Hmax Money Exchange is an active private limited company based in Mumbai, Maharashtra, India. The company works in forex services, within the financial services industry. It was incorporated on 18 September 2008 (18+ years old) and is registered under CIN U67120MH2008PTC301847.
Hmax Money Exchange has 2 current directors:
- Kalpesh Prakash Gadiya - Director
- Saranjeet Jitendra Singh - Director
The latest financial statements of Hmax Money Exchange 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 GSTIN of Hmax Money Exchange is 27AADCG4192K1ZB, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Hmax Money Exchange is U67120MH2008PTC301847. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hmax Money Exchange was incorporated on 18 September 2008, making it 18+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Hmax Money Exchange by revenue are Arc Forex & Travels Private Limited, Meets Forex Private Limited, Sab Travel & Financial Services Private Limited, Opel Forex Private Limited, Istuti Forex Private Limited and 1 more, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
Saranjeet Jitendra Singh was appointed as Director on 22 Feb 2022. Sonal Kalpesh Gadiya ceased to be Director on 22 Feb 2022. Goutham Hemraj Gadiya ceased to be Director on 06 Oct 2017. Hmax Money Exchange has 7 board changes on record in total.
Hmax Money Exchange can be reached through the website hmaxforex.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Hmax Money Exchange is at Shop No. 1 & 2 Ground Floor 280 S B S Road Opp Lalit Restaurant Cst Fort, Mumbai, Maharashtra, India – 400001.
Hmax Money Exchange operates in the financial services industry, in the forex services segment.