Utopia Forex Private Limited
About Utopia Forex Private Limited
Data last updated:
Utopia Forex Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the forex services segment of the financial services sector. It was incorporated on 13 February 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U67190GJ2012PTC069004. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹27 Lakh and a paid-up capital of ₹27 Lakh. It is led by directors including Roopal Paras Lakhia and Dineshbhai Vadilal Kamdar.
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 404 Abhigam Complex Opposite Doctor House Near Parimal Crossing, Ahmedabad, Gujarat, India – 380006.
As per the financials filed for FY 2024, the company reported a revenue of ₹84.55 Lakh, a decline of 65% compared to the previous year. For the same year it recorded a net loss of ₹1.92 Lakh (net margin -2.3%) and EBITDA of -₹1.84 Lakh (EBITDA margin -2.2%). Revenue has declined at a compounded annual rate (CAGR) of 32% over three years and 33% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address404 Abhigam Complex Opposite Doctor House Near Parimal Crossing, Ahmedabad, Gujarat, India – 380006
- IndustryFinancial Services, Forex 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 Utopia Forex Private Limited
The main business activity of Utopia 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 Utopia Forex Private Limited FY 2025 filings available
Utopia Forex Private Limited reported revenue of ₹84.55 Lakh (down 65% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Utopia Forex Private Limited
Revenue has declined at a compounded annual rate (CAGR) of 33% over five years, including a 65% fall in the latest year. EBITDA fell 252% 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 Utopia Forex Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| 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 | -₹1.84 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹1.92 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 Utopia Forex Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -2.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -2.3% | •••• | •••• | •••• | •••• |
| 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 Utopia Forex are in the company report.
Financial statements from 2015
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 Utopia Forex Private Limited
Utopia 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 |
|---|---|---|---|---|---|---|
| Revolut Forex India Private Limited | ₹87.67 Lakh (FY 2025) | •••• | •••• | 137.0% | •••• | Mumbai, Maharashtra, India |
| Amethyst Forex Private Limited | ₹86.66 Lakh (FY 2025) | •••• | •••• | 8.0% | •••• | Chennai, Tamil Nadu, India |
| Just Travels and Forex Private Limited | ₹86.36 Lakh (FY 2025) | •••• | •••• | 30.0% | •••• | Bardez, Goa, India |
| Buyex Fintech Solutions Private Limited | ₹86.25 Lakh (FY 2025) | •••• | •••• | 46.0% | •••• | Ernakulam, Kerala, India |
| J.C. Forex Private Limited | ₹85.1 Lakh (FY 2022) | •••• | •••• | 388.0% | •••• | Malad Weast Mumbai, Maharashtra, India |
| Utopia Forex Private Limited this company | ₹84.55 Lakh (FY 2024) | •••• | •••• | -65.0% | •••• | Ahmedabad, Gujarat, India |
| Bluemax Capital Solution Private Limited | ₹84.18 Lakh (FY 2018) | •••• | •••• | 35.0% | •••• | Palayamkottai, Tamil Nadu, India |
| SRS Forex Private Limited | ₹83.92 Lakh (FY 2024) | •••• | •••• | 184.0% | •••• | Madurai, Tamil Nadu, India |
| American Impex Private Limited | ₹83.57 Lakh (FY 2024) | •••• | •••• | -43.0% | •••• | Chennai, Tamil Nadu, India |
| Batala Forex Services Private Limited | ₹83.42 Lakh (FY 2019) | •••• | •••• | -37.0% | •••• | New Delhi, Delhi, India |
| Balo Forex & Travels Private Limited | ₹82.93 Lakh (FY 2025) | •••• | •••• | 5.0% | •••• | Raigunj, West Bengal, India |
Peers are the five companies nearest above and the five nearest below Utopia 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 Utopia Forex Private Limited
Utopia Forex Private Limited is audited by PRAKASH BHAVSAR & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| PRAKASH BHAVSAR & 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 Utopia Forex Private Limited
Utopia Forex has 4 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Roopal Paras Lakhia Also directs: Utopia Travel Services Private Limited | Director | 13 Feb 2012 | 14 Years 7 Months | Current |
| Dineshbhai Vadilal Kamdar Also directs: Utopia Travel Services Private Limited | Director | 13 Feb 2012 | 14 Years 7 Months | Current |
| Renukaben Dineshbhai Kamdar Also directs: Utopia Travel Services Private Limited | Director | 13 Feb 2012 | 14 Years 7 Months | Current |
| Paras Amarish Lakhia | Director | 13 Feb 2012 | 14 Years 7 Months | Current |
Ownership and Shareholding of Utopia 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 Utopia Forex Private Limited
Utopia Forex Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Utopia Forex Private Limited
Employment history and EPFO contributions of people linked to Utopia 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 Utopia Forex Private Limited
Utopia Forex Private Limited has 4 board changes on record since 2012: 4 appointments. The latest: Dineshbhai Vadilal Kamdar was appointed as Director on 13 Feb 2012.
Credit Ratings, Litigation & Regulatory Alerts for Utopia 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 Utopia 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 Utopia 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 Utopia Forex Private Limited
Utopia Forex has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
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 Utopia 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 Utopia Forex Private Limited
Utopia Forex is an active private limited company based in Ahmedabad, Gujarat, India. The company works in forex services, within the financial services industry. It was incorporated on 13 February 2012 (14+ years old) and is registered under CIN U67190GJ2012PTC069004.
Utopia Forex reported revenue of ₹84.55 Lakh for FY 2024 (down 65% YoY).
Utopia Forex has 4 current directors:
- Roopal Paras Lakhia - Director
- Dineshbhai Vadilal Kamdar - Director
- Renukaben Dineshbhai Kamdar - Director
- Paras Amarish Lakhia - Director
Utopia Forex reported a net loss of ₹1.92 Lakh (net margin -2.3%) and EBITDA of -₹1.84 Lakh (EBITDA margin -2.2%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Utopia Forex is 32% over three years and -33% over five years. In the latest year (FY 2024) revenue fell 65%. CAGR is the steady yearly rate that links the first and the last year.
No. Utopia Forex has 1 GST registration on record and it is cancelled or inactive.
The CIN (Corporate Identification Number) of Utopia Forex is U67190GJ2012PTC069004. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Utopia Forex was incorporated on 13 February 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Utopia Forex by revenue are Revolut Forex India Private Limited, Amethyst Forex Private Limited, Just Travels and Forex Private Limited, Buyex Fintech Solutions Private Limited, J.C. Forex Private Limited and 5 more, all in the BFSI industry (Money Exchange Services).
Dineshbhai Vadilal Kamdar was appointed as Director on 13 Feb 2012. Paras Amarish Lakhia was appointed as Director on 13 Feb 2012. Renukaben Dineshbhai Kamdar was appointed as Director on 13 Feb 2012. Utopia Forex has 4 board changes on record in total.
The registered office of Utopia Forex is at 404 Abhigam Complex Opposite Doctor House Near Parimal Crossing, Ahmedabad, Gujarat, India – 380006.