About Aj Incubation Forum
Data last updated: 11 February 2026
Aj Incubation Forum is a private not for profit company based in Chennai, Tamil Nadu, India. It specialises in diversified financial services, a part of the broader financial services sector. Incorporated on 11 July 2017, the company has been in operation for over 9 years.
Registered with ROC Chennai under CIN U74999TN2017NPL117516.
Capital: an authorised share capital of ₹10 Lakh and a paid-up capital of ₹10 Lakh. It is led by directors Anil Jain and Dinesh Kumar Agarwal.
Last AGM: 29 September 2025. Financial statements filed for year ended 31 March 2025. Office: 2Nd Floor No.313 Refex Towers Sterling Road, Valluvar Kottam High Road Nungambakkam Chennai – 600034, Tamil Nadu, India – 600034.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,540, a decline of 37% compared to the previous year.
The company is associated with 1 brand - Refex Capital.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website refexcapital.com.
-
Email*****@*****.com
-
Telephone+91-****-******
-
Website
-
Social Media
-
Apps
-
Registered Address2Nd Floor No.313 Refex Towers Sterling Road, Valluvar Kottam High Road Nungambakkam Chennai – 600034, Tamil Nadu, India – 600034
-
IndustryFinancial Services, Diversified Financial Services
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Associated Brands with Aj Incubation Forum
Aj Incubation Forum operates one associated brand: Refex Capital. These brands represent Aj Incubation Forum's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Early-stage venture capital fund investing in innovative startups. | refexcapital.com |
Auditor Details of Aj Incubation Forum
Aj Incubation Forum is audited by NEHA BOKDIA & ASSOCIATES for the financial year 2021. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| NEHA BOKDIA & ASSOCIATES | blur-value | blur-value | blur-value |
Board of Directors of Aj Incubation Forum
Aj Incubation Forum is governed by 2 directors who oversee the company's operations and strategic decisions.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Anil Jain | Director | 11 Jul 2017 | 9 Years 0 Months | Current |
| Dinesh Kumar Agarwal | Director | 11 Jul 2017 | 9 Years 0 Months | Current |
Financials of Aj Incubation Forum FY 2025 filings available
Aj Incubation Forum reported revenue of ₹1,540 (down 37% YoY) for FY 2025. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue from Operations | ***** | ***** | ***** | ***** | ***** |
| Revenue Growth % | ***** | ***** | ***** | ***** | ***** |
| Other Income | ***** | ***** | ***** | ***** | ***** |
| Total Revenue | ***** | ***** | ***** | ***** | ***** |
| Expenses | |||||
| Total Expenses | ***** | ***** | ***** | ***** | ***** |
| Raw Material Cost | ***** | ***** | ***** | ***** | ***** |
| Change in Inventory FG | ***** | ***** | ***** | ***** | ***** |
| Change in Inventory WIP | ***** | ***** | ***** | ***** | ***** |
| Purchase of Traded Goods | ***** | ***** | ***** | ***** | ***** |
| Employee Cost | ***** | ***** | ***** | ***** | ***** |
| Managerial Remuneration | ***** | ***** | ***** | ***** | ***** |
| Audit Fees | ***** | ***** | ***** | ***** | ***** |
| Insurance | ***** | ***** | ***** | ***** | ***** |
| Power & Fuel | ***** | ***** | ***** | ***** | ***** |
| Interest | ***** | ***** | ***** | ***** | ***** |
| Depreciation | ***** | ***** | ***** | ***** | ***** |
| Other Expenses | ***** | ***** | ***** | ***** | ***** |
| Profitability | |||||
| EBITDA (Operating Profit) | ***** | ***** | ***** | ***** | ***** |
| Operating Margin % | ***** | ***** | ***** | ***** | ***** |
| Exceptional Items | ***** | ***** | ***** | ***** | ***** |
| Extraordinary Items | ***** | ***** | ***** | ***** | ***** |
| Profit Before Exceptional & Extraordinary Items | ***** | ***** | ***** | ***** | ***** |
| Profit Before Tax | ***** | ***** | ***** | ***** | ***** |
| Tax & Net Profit | |||||
| Tax Expense | ***** | ***** | ***** | ***** | ***** |
| Current Tax | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax | ***** | ***** | ***** | ***** | ***** |
| Profit from Discontinued Operations | ***** | ***** | ***** | ***** | ***** |
| Tax on Discontinued Operations | ***** | ***** | ***** | ***** | ***** |
| Profit | ***** | ***** | ***** | ***** | ***** |
| Net Margin % | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Shareholders' Funds | |||||
| Total Shareholders' Funds | ***** | ***** | ***** | ***** | ***** |
| Equity Capital | ***** | ***** | ***** | ***** | ***** |
| Reserves & Surplus | ***** | ***** | ***** | ***** | ***** |
| Money Against Warrants | ***** | ***** | ***** | ***** | ***** |
| Other Equity | ***** | ***** | ***** | ***** | ***** |
| Non-Current Liabilities | |||||
| Total Non-Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Long-Term Borrowings | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax Liabilities | ***** | ***** | ***** | ***** | ***** |
| Other Non-Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Long-Term Provisions | ***** | ***** | ***** | ***** | ***** |
| Current Liabilities | |||||
| Total Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Short-Term Borrowings | ***** | ***** | ***** | ***** | ***** |
| Trade Payables | ***** | ***** | ***** | ***** | ***** |
| Other Current Liabilities | ***** | ***** | ***** | ***** | ***** |
| Short-Term Provisions | ***** | ***** | ***** | ***** | ***** |
| Total Equity & Liabilities | ***** | ***** | ***** | ***** | ***** |
| Non-Current Assets | |||||
| Non-Current Assets | ***** | ***** | ***** | ***** | ***** |
| Tangible Assets | ***** | ***** | ***** | ***** | ***** |
| Intangible Assets | ***** | ***** | ***** | ***** | ***** |
| Capital WIP | ***** | ***** | ***** | ***** | ***** |
| Intangibles Under Dev | ***** | ***** | ***** | ***** | ***** |
| Investments | ***** | ***** | ***** | ***** | ***** |
| Deferred Tax Assets | ***** | ***** | ***** | ***** | ***** |
| LT Loans & Advances | ***** | ***** | ***** | ***** | ***** |
| Other Non-Current Assets | ***** | ***** | ***** | ***** | ***** |
| Current Assets | |||||
| Current Assets | ***** | ***** | ***** | ***** | ***** |
| Current Investments | ***** | ***** | ***** | ***** | ***** |
| Inventories | ***** | ***** | ***** | ***** | ***** |
| Trade Receivables | ***** | ***** | ***** | ***** | ***** |
| Cash & Bank Balance | ***** | ***** | ***** | ***** | ***** |
| ST Loans & Advances | ***** | ***** | ***** | ***** | ***** |
| Other Current Assets | ***** | ***** | ***** | ***** | ***** |
| Total Assets | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Cash from Operating Activities (CFO) | |||||
| Profit Before Tax | ***** | ***** | ***** | ***** | ***** |
| Non-Cash Adjustments | ***** | ***** | ***** | ***** | ***** |
| + Interest Expense | ***** | ***** | ***** | ***** | ***** |
| + Depreciation | ***** | ***** | ***** | ***** | ***** |
| +/- Unrealized Forex | ***** | ***** | ***** | ***** | ***** |
| - Dividend Income | ***** | ***** | ***** | ***** | ***** |
| - Interest Income | ***** | ***** | ***** | ***** | ***** |
| +/- Other Non-Cash Items | ***** | ***** | ***** | ***** | ***** |
| Changes in Working Capital | ***** | ***** | ***** | ***** | ***** |
| +/- Inventory | ***** | ***** | ***** | ***** | ***** |
| +/- Debtors | ***** | ***** | ***** | ***** | ***** |
| +/- Creditors | ***** | ***** | ***** | ***** | ***** |
| Reconciliation Adjustments | ***** | ***** | ***** | ***** | ***** |
| Cash Generated from Operations | ***** | ***** | ***** | ***** | ***** |
| Income Taxes Paid | ***** | ***** | ***** | ***** | ***** |
| Net CFO (Cash from Operations) | ***** | ***** | ***** | ***** | ***** |
| Cash from Investing Activities (CFI) | |||||
| Acquisitions & Disposals | ***** | ***** | ***** | ***** | ***** |
| Disposal of Subsidiaries | ***** | ***** | ***** | ***** | ***** |
| Acquisition of Subsidiaries | ***** | ***** | ***** | ***** | ***** |
| Capex | ***** | ***** | ***** | ***** | ***** |
| Purchase of Fixed Assets | ***** | ***** | ***** | ***** | ***** |
| Sale of Fixed Assets | ***** | ***** | ***** | ***** | ***** |
| Other Investing Cash Flows | ***** | ***** | ***** | ***** | ***** |
| Net CFI (Cash from Investing) | ***** | ***** | ***** | ***** | ***** |
| Cash from Financing Activities (CFF) | |||||
| Equity Issuance | ***** | ***** | ***** | ***** | ***** |
| Debt Raised | ***** | ***** | ***** | ***** | ***** |
| Debt Repaid | ***** | ***** | ***** | ***** | ***** |
| Dividends Paid | ***** | ***** | ***** | ***** | ***** |
| Interest Paid | ***** | ***** | ***** | ***** | ***** |
| Net CFF (Cash from Financing) | ***** | ***** | ***** | ***** | ***** |
| Net Cash Position | |||||
| Net Change in Cash (Pre-Forex) | ***** | ***** | ***** | ***** | ***** |
| Closing Cash & Equivalents | ***** | ***** | ***** | ***** | ***** |
| Metrics | ***** | ***** | ***** | ***** | ***** |
|---|---|---|---|---|---|
| Liquidity | |||||
| Current Ratio | ***** | ***** | ***** | ***** | ***** |
| Quick Ratio | ***** | ***** | ***** | ***** | ***** |
| Cash Ratio | ***** | ***** | ***** | ***** | ***** |
| Efficiency | |||||
| Inventory Days | ***** | ***** | ***** | ***** | ***** |
| Debtor Days | ***** | ***** | ***** | ***** | ***** |
| Creditor Days | ***** | ***** | ***** | ***** | ***** |
| Cash Conversion Cycle | ***** | ***** | ***** | ***** | ***** |
| Asset Turnover | ***** | ***** | ***** | ***** | ***** |
| Profitability | |||||
| Net Profit Margin % | ***** | ***** | ***** | ***** | ***** |
| Operating Margin % | ***** | ***** | ***** | ***** | ***** |
| ROE % | ***** | ***** | ***** | ***** | ***** |
| ROCE % | ***** | ***** | ***** | ***** | ***** |
| Net Worth Margin % | ***** | ***** | ***** | ***** | ***** |
| Growth | |||||
| Revenue Growth % | ***** | ***** | ***** | ***** | ***** |
| Leverage | |||||
| Equity Multiplier | ***** | ***** | ***** | ***** | ***** |
| Debt / EBITDA | ***** | ***** | ***** | ***** | ***** |
| Solvency | |||||
| D/E Ratio | ***** | ***** | ***** | ***** | ***** |
| ICR | ***** | ***** | ***** | ***** | ***** |
Consolidated Statements
Income Statement, Balance Sheet, Cash Flow & Ratios available in the full report.
Shareholding Pattern of Aj Incubation Forum
As of FY 2021, Aj Incubation Forum's shareholding pattern shows 100.00% by promoters. The promoters hold a majority stake, indicating strong promoter control.
| Year | 2025 |
|---|---|
| Promoters | 33.19% |
| DII | 23.22% |
| FII | 18.28% |
| Public | 22.89% |
| Others | 2.42% |
Charges & Borrowings Aj Incubation Forum
Aj Incubation Forum does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Aj Incubation Forum
View historical data on people associated with Aj Incubation Forum, including employment history and EPFO contributions.
Employee Count & EPFO Data of Aj Incubation Forum
Access employee headcount trends, monthly PF payment records, EPFO establishment details, and compliance data.
GST Compliance of Aj Incubation Forum
GSTIN & GST Filing Data of Aj Incubation Forum
Access GSTIN registrations, state-wise filing compliance, HSN/SAC codes, and detailed goods & services data.
Credit Ratings, Litigation & Regulatory Alerts for Aj Incubation Forum
Credit Ratings, Legal Cases & Regulatory Alerts of Aj Incubation Forum
Access complete credit rating history, litigation records, regulatory alerts, and compliance data.
MSME Payment Delays by Aj Incubation Forum
MSME Payment Delays by Aj Incubation Forum
Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.
Subsidiaries & Group Companies of Aj Incubation Forum
Subsidiaries & Group Companies of Aj Incubation Forum
See the full corporate group - holding company, subsidiaries, associates and joint ventures of Aj Incubation Forum with ownership details.
MCA Filings & Documents of Aj Incubation Forum
MCA Filings & Documents of Aj Incubation Forum
Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.
Recent Activity on Aj Incubation Forum
Recent News on Aj Incubation Forum
Frequently Asked Questions about Aj Incubation Forum
Aj Incubation Forum is an active private not for profit company in the financial services sector based in Chennai, Tamil Nadu, India. It was incorporated on 11 July 2017 (9+ years old) and is registered under CIN U74999TN2017NPL117516.
Aj Incubation Forum reported revenue of ₹1,540 for FY 2025 (down 37.00% YoY).
The current directors of Aj Incubation Forum are:
The primary industry of Aj Incubation Forum is financial services. The company specifically operates in diversified financial services. The company is currently active in this sector.
Aj Incubation Forum can be reached at the registered office: 2Nd Floor No.313 Refex Towers Sterling Road, Valluvar Kottam High Road Nungambakkam Chennai – 600034, Tamil Nadu, India – 600034, or through the website refexcapital.com.
The authorised capital is ₹10 Lakh, and the paid-up capital is ₹10 Lakh.