About Richmen Forex Private Limited
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Richmen Forex Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the travel and tour services segment of the transport and logistics sector. It was incorporated on 20 September 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U67100KA2018PTC116708. Its GSTIN is 29AAJCR1808F1ZC (Karnataka).
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹50 Lakh. It is led by directors Vasanth Kumar Boraiah and Deekshith Devappa Hukli.
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 No.32B 1st Floor 59th Cross Road 3rd Block Rajaji Nagar, Bangalore, Karnataka, India – 560010.
As per the financials filed for FY 2025, the company reported a revenue of ₹116.81 Cr. For the same year it recorded a net profit of ₹16.96 Lakh (net margin 0.1%) and EBITDA of ₹30.43 Lakh (EBITDA margin 0.3%). Revenue has grown at a compounded annual rate (CAGR) of 140% over three years and 32% over five years.
For more details, the company can be reached via its website richmenforex.in.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressNo.32B 1st Floor 59th Cross Road 3rd Block Rajaji Nagar, Bangalore, Karnataka, India – 560010
- IndustryTransport and Logistics, Travel & Tour Services
- 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
- One PDF report, delivered after checkout
Business Activity of Richmen Forex Private Limited
The main business activity of Richmen Forex is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Richmen Forex Private Limited FY 2025 filings available
Richmen Forex Private Limited reported revenue of ₹116.81 Cr for FY 2025.
Compounded Annual Growth Rate (CAGR) of Richmen Forex Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 32% over five years. EBITDA fell 15% 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 of Richmen Forex Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹30.43 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹16.96 Lakh | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Richmen Forex Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0.1% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Richmen Forex are in the company report.
Financial statements from FY 2019
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Richmen Forex Private Limited
Richmen Forex Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Money Exchange Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Palak Forex Private Limited | ₹119.48 Cr (FY 2025) | •••• | •••• | -29.0% | •••• | Mumbai, Maharashtra, India |
| Vaayu International Forex Services Private Limited | ₹118.9 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Vijayanagar, Karnataka, India |
| Ultimate Forex Private Limited | ₹118.09 Cr (FY 2024) | •••• | •••• | 122.0% | •••• | Kolkata, West Bengal, India |
| Ebix Paytech Private Limited | ₹117.52 Cr (FY 2023) | •••• | •••• | 3263.0% | •••• | Mumbai, Maharashtra, India |
| Hamraj Forex Private Limited | ₹117.16 Cr (FY 2024) | •••• | •••• | 116.0% | •••• | Kozhikode, Kerala, India |
| Richmen Forex Private Limited this company | ₹116.81 Cr (FY 2025) | •••• | •••• | •••• | Bangalore, Karnataka, India | |
| Simply Money Services Private Limited | ₹115.97 Cr (FY 2018) | •••• | •••• | -31.0% | •••• | New Delhi, Delhi, India |
| Khanna Forex Private Limited | ₹115.2 Cr (FY 2025) | •••• | •••• | -8.0% | •••• | Delhi, India |
| Swara Money Exchange Private Limited | ₹115.16 Cr (FY 2024) | •••• | •••• | -4.0% | •••• | Kolkata, West Bengal, India |
| DDP Travel Forex Private Limited | ₹110.11 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Mumbai, Maharashtra, India |
| Pawansut Forex Private Limited | ₹109.11 Cr (FY 2025) | •••• | •••• | -14.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Richmen Forex by revenue in the BFSI industry (Money Exchange Services), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Richmen Forex Private Limited
Richmen Forex Private Limited is audited by N NAVEENN AND ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| N NAVEENN AND ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Richmen Forex Private Limited
Richmen Forex has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vasanth Kumar Boraiah Also directs: Richmen Foods India Private Limited | Director | 20 Sep 2018 | 8 Years 0 Months | Current |
| Deekshith Devappa Hukli Also directs: Richmen Foods India Private Limited | Director | 20 Sep 2018 | 8 Years 0 Months | Current |
Ownership and Shareholding of Richmen Forex Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Richmen Forex Private Limited
Richmen Forex Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Richmen Forex Private Limited
Employment history and EPFO contributions of people linked to Richmen Forex.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Richmen Forex Private Limited
Richmen Forex Private Limited has 4 board changes on record since 2018: 2 appointments and 2 cessations. The latest: Neetha Rani ceased to be Director on 15 Oct 2019.
Credit Ratings, Litigation & Regulatory Alerts for Richmen Forex Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Richmen Forex Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Richmen Forex Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Richmen Forex Private Limited
Richmen Forex has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAJCR1808F1ZC | Karnataka | Active | 27 Dec 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Richmen Forex Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Richmen Forex Private Limited
Richmen Forex is an active private limited company based in Bangalore, Karnataka, India. The company works in travel and tour services, within the transport and logistics industry. It was incorporated on 20 September 2018 (8+ years old) and is registered under CIN U67100KA2018PTC116708.
Richmen Forex reported revenue of ₹116.81 Cr for FY 2025.
Richmen Forex has 2 current directors:
- Vasanth Kumar Boraiah - Director
- Deekshith Devappa Hukli - Director
Richmen Forex reported a net profit of ₹16.96 Lakh (net margin 0.1%) and EBITDA of ₹30.43 Lakh (EBITDA margin 0.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Richmen Forex is 140% over three years and 32% over five years. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Richmen Forex is 29AAJCR1808F1ZC, registered in Karnataka.
The CIN (Corporate Identification Number) of Richmen Forex is U67100KA2018PTC116708. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Richmen Forex was incorporated on 20 September 2018, making it 8+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Richmen Forex by revenue are Palak Forex Private Limited, Vaayu International Forex Services Private Limited, Ultimate Forex Private Limited, Ebix Paytech Private Limited, Hamraj Forex Private Limited and 5 more, all in the BFSI industry (Money Exchange Services).
Neetha Rani ceased to be Director on 15 Oct 2019. Thigalrahalli Puttaswamy Anusha ceased to be Director on 15 Oct 2019. Deekshith Devappa Hukli was appointed as Director on 20 Sep 2018. Richmen Forex has 4 board changes on record in total.
Richmen Forex can be reached through the website richmenforex.in. Its registered office is in Bangalore, Karnataka, India.