About Electrum Financial Services Private Limited
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Electrum Financial Services Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the forex services segment of the financial services sector. It was incorporated on 10 October 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U67190KA2012PTC066238. Its GSTIN is 29AAFCB2234B1Z6 (Karnataka). The company holds 6 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹4.92 Cr and a paid-up capital of ₹1.08 Cr. It was formerly known as Forex Techsol Private Limited and Yourforexpartner Private Limited. It is led by directors including Aditya Agarwal and Thamballapalle Nallappareddy Ananth Reddy.
Its last annual general meeting (AGM) was held on 26 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹18.1 Lakh, a decline of 88% compared to the previous year. For the same year it recorded a net loss of ₹31.64 Lakh (net margin -174.8%) and EBITDA of -₹22.42 Lakh (EBITDA margin -123.8%). Revenue has declined at a compounded annual rate (CAGR) of 55% over three years and 38% over five years.
The company has about 2 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: BuyForexOnline. As per MCA filings, the company has open charges of ₹1.14 Cr on record. Court records list 2 cases involving the company, including 1 filed by the company and 1 filed against it. The company has 16 deals on record (7 secondary share transfers, 5 funding rounds, 4 rights issues), with disclosed funding of ₹7.17 Cr; the latest was in March 2021. Its 6 peer companies in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities) are compared by revenue, 4 larger and 2 smaller; the largest is PKR Forex Private Limited with revenue of ₹20.16 Lakh.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website buyforexonline.com.
Company details
Name history
Electrum Financial Services has undergone 4 name changes throughout its history. The current legal name is Electrum Financial Services Private Limited.
| Company Name | Status |
|---|---|
| Electrum Financial Services Private Limited | Current |
| Forex Techsol Private Limited | Previous |
| Yourforexpartner Private Limited | Previous |
| Buyforexonline (India) Private Limited | Previous |
| Forex Travelcard Services Private Limited | Previous |
Contact details
Electrum Financial Services Private Limited's registered office is in Bangalore, Karnataka. Its website is buyforexonline.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit 707 Brigade Towers, No. 135 Brigade Road, Bangalore, Karnataka, India – 560025
- IndustryFinancial Services, Forex Services
To see the full contact details of Electrum Financial Services 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
Brands
Electrum Financial Services operates one associated brand: BuyForexOnline. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Operates a digital platform for forex prepaid cards and purchases. | buyforexonline.com |
Business activity
The main business activity of Electrum Financial Services 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 Electrum Financial Services Private Limited, buy the company report.
Financials of Electrum Financial Services Private Limited
FY 2024 filings availableElectrum Financial Services Private Limited reported revenue of ₹18.1 Lakh (down 88% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 38% over five years, including a 88% fall in the latest year. EBITDA fell 175% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Total Expenses | |||||
| EBITDA | -₹22.42 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹31.64 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -123.8% | ||||
| Net Profit Margin | -174.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Electrum Financial Services Private Limited, buy the company report.
Board of directors of Electrum Financial Services Private Limited
Electrum Financial Services has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Aditya Agarwal | Director | 30 Jan 2017 | 9 Years 9 Months | Current |
| Thamballapalle Nallappareddy Ananth Reddy Also directs: Electrum Financial Holdings Limited, Unirem Payment Services LLP | Director | 10 Oct 2012 | 14 Years 1 Months | Current |
| Vinatha Madhusudan Reddy Also directs: Promac Engineering Industries Limited, Creditaccess General Insurance Limited, Avalahalli Investments Private Limited and 4 more | Director | 14 Feb 2015 | 11 Years 8 Months | Current |
Peer comparison
Electrum Financial Services Private Limited is compared with the 6 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 |
|---|---|---|---|---|---|---|
| PKR Forex Private Limited | ₹20.16 Lakh (FY 2025) | -22.0% | Chennai, Tamil Nadu, India | |||
| Sachkhand Travels and Forex Private Limited | ₹19.38 Lakh (FY 2025) | 15.0% | New Delhi, Delhi, India | |||
| Sarda Forex Exchange Private Limited | ₹18.29 Lakh (FY 2025) | 17.0% | Jamnagar, Gujarat, India | |||
| Adman Forex and Serivices Private Limited | ₹18.16 Lakh (FY 2025) | -99.0% | Ahmedabad, Gujarat, India | |||
| Electrum Financial Services Private Limitedthis company | ₹18.1 Lakh (FY 2024) | -₹31.64 Lakh | -174.8% | -88.0% | Bangalore, Karnataka, India | |
| Marksman Forex Private Limited | ₹17.13 Lakh (FY 2020) | 21.0% | Chennai, Tamil Nadu, India | |||
| Saaf International Forex Private Limited | ₹16.74 Lakh (FY 2025) | 3382.0% | Ernakulam, Kerala, India |
To see the full peer comparison of Electrum Financial Services Private Limited, buy the company report.
Auditor
Electrum Financial Services Private Limited is audited by RAMESH RAO & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| RAMESH RAO & CO LLP | FY 2023 | 003003S/S200027 |
Shareholding
The shareholding of Electrum Financial Services 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 Electrum Financial Services Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Jul 2019 | 100278341 | Others | ₹50 Lakh | Open | |
| 03 Dec 2018 | 100245896 | Others | ₹13.5 Lakh | Open | |
| 06 Mar 2018 | 100163553 | Others | ₹50 Lakh | Open |
Total charge records: 3 View all charges
Deals & funding
Electrum Financial Services Private Limited has 16 deals on record (7 secondary share transfers, 5 funding rounds, 4 rights issues), with disclosed funding of ₹7.17 Cr; the latest was in March 2021.
Deals on record (5 of 16)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2021 | Rights issue | ₹81.3 Lakh | Investors: an individual |
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Feb 2021 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
| Feb 2021 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Mar 2020 | Rights issue | ₹92.2 Lakh | Investors: 4 individuals |
To see the full deal history of Electrum Financial Services Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Electrum Financial Services Private Limited has 2 court cases on record: 1 filed by Electrum Financial Services, 1 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
| High courts | 1 | 0 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court | Arbitration matter | Filed by the company against The Federal Bank Ltd | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed against the company by The Federal Bank Ltd | Disposed |
To see the full case history of Electrum Financial Services Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Electrum Financial Services Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Electrum Financial Services has 6 GST registrations: 2 active and 4 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCB2234B1Z6 | Karnataka | Active | 01 Jul 2017 |
| 29AAFCB2234B2Z5 | Karnataka | Active | 20 Jun 2018 |
To see the full GST registrations and return filing status of Electrum Financial Services Private Limited, buy the company report.
Recent activity
Electrum Financial Services Private Limited has 6 board changes on record since 2012: 3 appointments and 3 cessations. The latest: Chendana Jalagam ceased to be Director on 15 Apr 2020.
Frequently asked questions
Electrum Financial Services is an active private limited company based in Bangalore, Karnataka, India. The company works in forex services, within the financial services industry. It was incorporated on 10 October 2012 (14+ years old) and is registered under CIN U67190KA2012PTC066238.
Electrum Financial Services has 3 current directors:
- Aditya Agarwal - Director
- Thamballapalle Nallappareddy Ananth Reddy - Director
- Vinatha Madhusudan Reddy - Director
The latest financial statements of Electrum Financial Services on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 26 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Electrum Financial Services is 29AAFCB2234B1Z6, registered in Karnataka. The company has 6 GST registrations in all, of which 2 are active and 4 are cancelled or inactive. Other active GSTINs include 29AAFCB2234B2Z5 (Karnataka).
The CIN (Corporate Identification Number) of Electrum Financial Services is U67190KA2012PTC066238. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Electrum Financial Services has 2 court cases on record: 1 filed by the company and 1 filed against it. Most are in the district courts.
Electrum Financial Services was incorporated on 10 October 2012, making it 14+ years old. It is registered with the Registrar of Companies, Bangalore.
Electrum Financial Services has 16 deals on record (7 secondary share transfers, 5 funding rounds, 4 rights issues), with disclosed funding of ₹7.17 Cr; the latest was in March 2021.
The peers of Electrum Financial Services by revenue are PKR Forex Private Limited, Sachkhand Travels and Forex Private Limited, Sarda Forex Exchange Private Limited, Adman Forex and Serivices Private Limited, Marksman Forex Private Limited and 1 more, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
Chendana Jalagam ceased to be Director on 15 Apr 2020. Pachigolla Ramakrishna ceased to be Director on 19 Dec 2019. Aditya Agarwal was appointed as Director on 30 Jan 2017. Electrum Financial Services has 6 board changes on record in total.
Electrum Financial Services can be reached through the website buyforexonline.com. Its registered office is in Bangalore, Karnataka, India.
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