Milan Forex India Private Limited
About Milan Forex India Private Limited
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Milan Forex India 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 25 August 2005 and has been in existence for over 21 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U36910MH2005PTC155630. Its GSTIN is 27AAECM3723H1ZK (Maharashtra).
The company has an authorised share capital of ₹1 Cr and a paid-up capital of ₹28.1 Lakh. It was formerly known as Milan Gold and Forex Private Limited. It is led by directors Bherulal Mithalal Parekh and Nirmalkumar Mithalal Parekh.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Plot No 2 Tarun Bharatsahar Road Andheri (East), Mumbai, Maharashtra, India – 400099.
As per the financials filed for FY 2025, the company reported a revenue of ₹98.67 Cr, a decline of 73% compared to the previous year. For the same year it recorded a net profit of ₹22.41 Lakh (net margin 0.2%) and EBITDA of ₹30.87 Lakh (EBITDA margin 0.3%). Revenue has declined at a compounded annual rate (CAGR) of 24% over three years and 26% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Milan Forex India Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressPlot No 2 Tarun Bharatsahar Road Andheri (East), Mumbai, Maharashtra, India – 400099
- IndustryFinancial Services, Forex Services
To see the full contact details of Milan Forex India 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
Business activity
The main business activity of Milan Forex India 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 Milan Forex India Private Limited, buy the company report.
Financials of Milan Forex India Private Limited
FY 2024 filings availableMilan Forex India Private Limited reported revenue of ₹98.67 Cr (down 73% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 26% over five years, including a 73% fall in the latest year. EBITDA fell 75% 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 | ₹30.87 Lakh | ||||
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| Net Profit (PAT) | ₹22.41 Lakh | ||||
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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 | 0.3% | ||||
| Net Profit Margin | 0.2% | ||||
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To see the full financial statements and ratios of Milan Forex India Private Limited, buy the company report.
Board of directors of Milan Forex India Private Limited
Milan Forex India has 2 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bherulal Mithalal Parekh | Director | 25 Aug 2005 | 21 Years 2 Months | Current |
| Nirmalkumar Mithalal Parekh | Director | 25 Aug 2005 | 21 Years 2 Months | Current |
Peer comparison
Milan Forex India Private Limited is compared with the 4 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 |
|---|---|---|---|---|---|---|
| DDP Travel Forex Private Limited | ₹110.11 Cr (FY 2025) | 5.0% | Mumbai, Maharashtra, India | |||
| Dma Forex Private Limited | ₹102.4 Cr (FY 2025) | 7.0% | Lucknow, Uttar Pradesh, India | |||
| Milan Forex India Private Limitedthis company | ₹98.67 Cr (FY 2025) | ₹22.41 Lakh | 0.2% | -73.0% | Mumbai, Maharashtra, India | |
| Shiv Tour and Forex Private Limited | ₹98.09 Cr (FY 2025) | 13.0% | Meerut, Uttar Pradesh, India | |||
| Jpy Forex and Holidays Private Limited | ₹97.46 Cr (FY 2019) | 63.0% | New Delhi, Delhi, India |
To see the full peer comparison of Milan Forex India Private Limited, buy the company report.
Auditor
Milan Forex India Private Limited is audited by CA ANUSHA N JAIN & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CA ANUSHA N JAIN & CO. | FY 2023 | 145455W |
Shareholding
The shareholding of Milan Forex India 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 Milan Forex India Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving Milan Forex India 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 Milan Forex India Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Milan Forex India has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECM3723H1ZK | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Milan Forex India Private Limited, buy the company report.
Recent activity
Milan Forex India Private Limited has 2 board changes on record since 2005: 2 appointments. The latest: Bherulal Mithalal Parekh was appointed as Director on 25 Aug 2005.
Frequently asked questions
Milan Forex India 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 25 August 2005 (21+ years old) and is registered under CIN U36910MH2005PTC155630.
Milan Forex India has 2 current directors:
- Bherulal Mithalal Parekh - Director
- Nirmalkumar Mithalal Parekh - Director
The latest financial statements of Milan Forex India on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Milan Forex India is 27AAECM3723H1ZK, registered in Maharashtra.
The CIN (Corporate Identification Number) of Milan Forex India is U36910MH2005PTC155630. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Milan Forex India was incorporated on 25 August 2005, making it 21+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Milan Forex India by revenue are DDP Travel Forex Private Limited, Dma Forex Private Limited, Shiv Tour and Forex Private Limited, Jpy Forex and Holidays Private Limited, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
Bherulal Mithalal Parekh was appointed as Director on 25 Aug 2005. Nirmalkumar Mithalal Parekh was appointed as Director on 25 Aug 2005.
The registered office of Milan Forex India is at Plot No 2 Tarun Bharatsahar Road Andheri East, Mumbai, Maharashtra, India – 400099.
Milan Forex India operates in the financial services industry, in the forex services segment.
The compliance status of Milan Forex India is compliant as of 05 August 2026. The company is actively filing with the Registrar of Companies.
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