About Buyforex India Limited
Data last updated:
Buyforex India Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Ebixcash World Money Ltd.. It operates in the forex services segment of the financial services sector. It was incorporated on 29 February 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2016PLC273638. Its GSTIN is 27AAGCB6332F2ZT (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹2 Cr. It is led by directors including Hariprasad Meenoth Panichikkil and Guruprasad Tiruvanamalai Chandrashekaran.
Its last annual general meeting (AGM) was held on 17 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 8th Floor Manek Plaza Kalina Cst Road Kolekalyan Santacruz (E), Mumbai, Maharashtra, India – 400098.
As per the financials filed for FY 2025, the company reported a revenue of ₹4.82 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹3.28 Cr (net margin 68.1%) and EBITDA of ₹4.26 Cr (EBITDA margin 88.5%). Revenue has grown at a compounded annual rate (CAGR) of 57% over three years and 43% over five years.
The company has about 1 employee on its provident fund (EPFO) records.
The company is associated with 1 brand: BuyForex. The company has 1 deal on record (1 secondary share transfer); the latest was in August 2017. Its 5 peer companies in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities) are compared by revenue, 3 larger and 2 smaller; the largest is Ecowaves Forex Private Limited with revenue of ₹4.95 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website buyforex.com.
Company details
Contact details
Buyforex India Limited's registered office is in Mumbai, Maharashtra. Its website is buyforex.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address8th Floor Manek Plaza Kalina Cst Road Kolekalyan Santacruz (E), Mumbai, Maharashtra, India – 400098
- IndustryFinancial Services, Forex Services
To see the full contact details of Buyforex India 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
Buyforex India operates one associated brand: BuyForex. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Foreign currency is bought and sold via an online platform. | buyforex.com |
Business activity
The main business activity of Buyforex 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 Buyforex India Limited, buy the company report.
Financials of Buyforex India Limited
FY 2025 filings availableBuyforex India Limited reported revenue of ₹4.82 Cr (up 163% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 43% over five years, including 163% growth in the latest year. EBITDA rose 191% 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 |
|---|---|---|---|---|---|
| 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 | ₹4.26 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹3.28 Cr | ||||
| 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 88.5% | ||||
| Net Profit Margin | 68.1% | ||||
| 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 | |||||
To see the full financial statements and ratios of Buyforex India Limited, buy the company report.
Board of directors of Buyforex India Limited
Buyforex India has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hariprasad Meenoth Panichikkil Also directs: Delphi World Money Limited, Ebix Money Express Private Limited, Ebixcash World Money Global Ifsc Private Limited and 1 more | Director | 17 Oct 2024 | 2 Years 0 Months | Current |
| Guruprasad Tiruvanamalai Chandrashekaran Also directs: Delphi World Money Limited, Ebix Money Express Private Limited, Ebixcash World Money Global Ifsc Private Limited and 3 more | Director | 29 Feb 2016 | 10 Years 8 Months | Current |
| Pravin Madhukar Patil Also directs: Ebix Money Express Private Limited, Ebixcash World Money Global Ifsc Private Limited, Ebixcash World Money Limited and 1 more | Director | 17 Oct 2024 | 2 Years 0 Months | Current |
Peer comparison
Buyforex India Limited is compared with the 5 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 |
|---|---|---|---|---|---|---|
| Ecowaves Forex Private Limited | ₹4.95 Cr (FY 2025) | -65.0% | Pehowa, Haryana, India | |||
| Routeforex Solutions Private Limited | ₹4.92 Cr (FY 2024) | 41.0% | Faridabad, Haryana, India | |||
| F-Zone Forex and Travels Private Limited | ₹4.92 Cr (FY 2024) | 62.0% | North Paravur, Kerala, India | |||
| Buyforex India Limitedthis company | ₹4.82 Cr (FY 2025) | ₹3.28 Cr | 68.1% | 163.0% | 1 | Mumbai, Maharashtra, India |
| Shivi Forex Private Limited | ₹4.81 Cr (FY 2024) | 4.0% | Delhi, India | |||
| One World Forex Private Limited | ₹4.76 Cr (FY 2018) | Mumbai, Maharashtra, India |
To see the full peer comparison of Buyforex India Limited, buy the company report.
Auditor
Buyforex India Limited is audited by K. G. Somani & Co.LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K. G. Somani & Co.LLP | FY 2023 | 006591N/N500377 |
Shareholding
The shareholding of Buyforex India 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 Buyforex India Limited, buy the company report.
Deals & funding
Buyforex India Limited has 1 deal on record (1 secondary share transfer); the latest was in August 2017.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2017 | Secondary share transfer | Undisclosed | Buyer: Ebixcash World Money Limited Seller: Centrum Capital Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Buyforex India 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 Buyforex India Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Buyforex India Limited has a workforce of 1 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
GST
Buyforex India has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAGCB6332F2ZT | Maharashtra | Active | 26 Jul 2017 |
To see the full GST registrations and return filing status of Buyforex India Limited, buy the company report.
Recent activity
Buyforex India Limited has 14 board changes on record since 2016: 3 appointments and 11 cessations. The latest: Hariprasad Meenoth Panichikkil ceased to be Additional Director on 28 Feb 2025.
5 earlier events are in the company report.
News
Frequently asked questions
Buyforex India is an active public limited company based in Mumbai, Maharashtra, India. The company works in forex services, within the financial services industry. It was incorporated on 29 February 2016 (10+ years old) and is registered under CIN U74999MH2016PLC273638.
Buyforex India has 3 current directors:
- Hariprasad Meenoth Panichikkil - Director
- Guruprasad Tiruvanamalai Chandrashekaran - Director
- Pravin Madhukar Patil - Director
The latest financial statements of Buyforex India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 17 July 2025. Year-wise statements from FY 2016 are in the company report.
The GSTIN of Buyforex India is 27AAGCB6332F2ZT, 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 Buyforex India is U74999MH2016PLC273638. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Buyforex India was incorporated on 29 February 2016, making it 10+ years old. It is registered with the Registrar of Companies, Mumbai.
Buyforex India has 1 deal on record (1 secondary share transfer); the latest was in August 2017.
The peers of Buyforex India by revenue are Ecowaves Forex Private Limited, Routeforex Solutions Private Limited, F-Zone Forex and Travels Private Limited, Shivi Forex Private Limited, One World Forex Private Limited, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
Hariprasad Meenoth Panichikkil ceased to be Additional Director on 28 Feb 2025. Pravin Madhukar Patil ceased to be Additional Director on 28 Feb 2025. Hariprasad Meenoth Panichikkil was appointed as Director on 17 Oct 2024. Buyforex India has 14 board changes on record in total.
Buyforex India can be reached through the website buyforex.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Buyforex India is at 8th Floor Manek Plaza Kalina Cst Road Kolekalyan Santacruz E, Mumbai, Maharashtra, India – 400098.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
