About Fomento Resources Private Limited
Data last updated:
Fomento Resources Private Limited is a private limited company based in Panaji, Goa, India. It operates in the metals retail and distribution segment of the metals and mining sector. It was incorporated on 08 July 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Goa, under CIN U13209GA2010PTC006440. Its GSTIN is 30AABCF5649N1ZH (Goa). The company holds 5 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹16 Lakh and a paid-up capital of ₹2.4 Lakh. It is led by directors including Shafeeq Ismail Mitha and Rajiv Kumar.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 102 1st Floor Kamat Metropolis – I Behind Caculo Mall St Inez, Panaji, Goa, India – 403001.
As per the financials filed for FY 2024, the company reported a revenue of ₹660.96 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹290.81 Cr (net margin 44%) and EBITDA of ₹431.57 Cr (EBITDA margin 65.3%). Revenue has grown at a compounded annual rate (CAGR) of 24% over three years and 36% over five years.
The company has about 34 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 1 brand: Fomento Resources. As per MCA filings, the company has open charges of ₹1,141.43 Cr and satisfied charges of ₹1,356.06 Cr on record. Court records list 81 cases involving the company, including 64 filed by the company and 11 filed against it; 30 cases are pending. The company has 1 deal on record (1 funding round), with disclosed funding of ₹1.4 Lakh; the latest was in February 2015. Its 10 peer companies in the Metals and Minerals industry (Materials Retail and Distribution, Mining) are compared by revenue, 5 larger and 5 smaller; the largest is Maheshwari Fuelchem Private Limited. The company has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 5 overdue payments to 3 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website fomento.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address102 1st Floor Kamat Metropolis – I Behind Caculo Mall St Inez, Panaji, Goa, India – 403001
- IndustryMetals and Minerals, Metal Retail & Distribution, Mining & Mineral Extraction
- 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 Fomento Resources Private Limited
The main business activity of Fomento Resources is mining and quarrying. In detail, this covers mining of metal ores.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| B | Mining and quarrying | B3 | Mining of Metal Ores | 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 Fomento Resources Private Limited FY 2024 filings available
Fomento Resources Private Limited reported revenue of ₹660.96 Cr (up 224% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Fomento Resources Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 36% over five years, including 224% growth in the latest year. EBITDA rose 176% 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 Fomento Resources 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 | ₹431.57 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹290.81 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 of Fomento Resources Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 65.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 44% | •••• | •••• | •••• | •••• |
| 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 Fomento Resources 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 Fomento Resources Private Limited
Fomento Resources Private Limited is compared with the companies closest to it by revenue in the Metals and Minerals industry (Materials Retail and Distribution, Mining). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Maheshwari Fuelchem Private Limited | •••• | •••• | •••• | •••• | - | Khalapur, Maharashtra, India |
| Rawalwasia Textile Industries Private Limited | •••• | •••• | •••• | •••• | 99 | Surat, Gujarat, India |
| Saroj Commodities Private Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
| Durga Infra Mining Private Limited | •••• | •••• | •••• | •••• | 1,963 | Bhuj, Gujarat, India |
| Auroglobal Comtrade Private Limited | •••• | •••• | •••• | •••• | 24 | Bhubaneswar, Orissa, India |
| Fomento Resources Private Limited this company | •••• | •••• | •••• | •••• | - | Panaji, Goa, India |
| Simpex Overseas Private Limited | •••• | •••• | •••• | •••• | - | Delhi, India |
| Aryan Ispat and Power Private Limited | •••• | •••• | •••• | •••• | 84 | New Delhi, Delhi, India |
| Fortune Coal Private Limited | •••• | •••• | •••• | •••• | - | Surat, Gujarat, India |
| Emta Coal Limited | •••• | •••• | •••• | •••• | - | Kolkata, West Bengal, India |
| Devendran Coal International Private Limited | •••• | •••• | •••• | •••• | 27 | Coimbatore, Tamil Nadu, India |
Peers are the five companies nearest above and the five nearest below Fomento Resources by revenue in the Metals and Minerals industry (Materials Retail and Distribution, Mining), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Fomento Resources Private Limited
Fomento Resources Private Limited is audited by Sudha Suresh Pai and Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Sudha Suresh Pai 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 Fomento Resources Private Limited
Fomento Resources has 4 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shafeeq Ismail Mitha | Director | 15 Jan 2018 | 8 Years 8 Months | Current |
| Rajiv Kumar | Director | 01 Feb 2023 | 3 Years 8 Months | Current |
| Shankar Narayan Also directs: Searock Advisors LLP, Innovators Resorts Pvt Ltd | Director | 30 Apr 2019 | 7 Years 5 Months | Current |
| Ambar Auduth Timblo Also directs: Searock Advisors LLP, Resources Concentrates Private Limited, Resources Pellets Concentrates Private Limited and 5 more | Director | 08 Jul 2010 | 16 Years 2 Months | Current |
Ownership and Shareholding of Fomento Resources 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 Fomento Resources Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Apr 2025 | Hdfc Bank Limited | ₹2.43 Cr | Open |
| 19 Feb 2025 | Yes Bank Limited | ₹50 Cr | Open |
| 07 Nov 2024 | Others | ₹30 Cr | Open |
| 27 Sep 2024 | Others | ₹145 Cr | Open |
| 17 Oct 2023 | Others | ₹690 Cr | Open |
Total charge records: 28 View all charges
Deals & Funding of Fomento Resources Private Limited
Fomento Resources Private Limited has 1 deal on record (1 funding round), with disclosed funding of ₹1.4 Lakh; the latest was in February 2015.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Feb 2015 | Funding round | ₹1.4 Lakh | Investors: Sociedade De Fomento Industrial Private Limited , Infra Consultancy Private Limited , 2 individuals |
Full deal history
All 1 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Fomento Resources Private Limited
Fomento Resources Private Limited has 81 court cases on record: 64 filed by Fomento Resources, 11 filed against it, 6 where it is another party. 30 cases are pending and 51 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 54 | 4 | 20 |
| District courts | 22 | 3 | 10 |
| Supreme Court | 4 | 3 | 0 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 81)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Appeal | Company is another party | Pending |
| Bombay High Court | Court case (PILWP) | Company is another party | Pending |
| District court, North Goa, Goa | Civil suit | Filed by the company against an individual | Pending |
| District court, North Goa, Goa | Civil suit | Filed by the company against an individual | Pending |
| District court, Sindhudurg, Maharashtra | Civil suit | Filed against the company by an individual | Pending |
Full case history
All 81 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Fomento Resources Private Limited
Fomento Resources Private Limited has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 5 overdue payments to 3 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Naik Industrial Sales | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Samruddhi Steels | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Fomento Resources Private Limited
Fomento Resources operates one associated brand: Fomento Resources. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Mineral exploration and development services are provided globally. | fomento.com |
Employees and EPFO Compliance at Fomento Resources Private Limited
Fomento Resources Private Limited has a workforce of 34 employees as of Mar 23, 2024.
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.
Group Structure of Fomento Resources Private Limited
Fomento Resources has 2 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Resources Concentrates Private Limited | U13100GA2007PTC005389 | Locked |
| Eyestar Finance & Leasing Private Limited | U65921GA1992PTC001257 | Locked |
Showing major subsidiaries. Total: 2.
Recent Activity on Fomento Resources Private Limited
Fomento Resources Private Limited has 12 board changes on record since 2010: 4 appointments and 8 cessations. The latest: Rajiv Kumar ceased to be Additional Director on 29 Sep 2023.
57 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Fomento Resources 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.
Subsidiaries & Group Companies of Fomento Resources 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 Fomento Resources Private Limited
Fomento Resources has 5 GST registrations: 4 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 30AABCF5649N1ZH | Goa | Active | 01 Jul 2017 |
| 27AABCF5649N1Z4 | Maharashtra | Active | 01 Jul 2017 |
| 29AABCF5649N1Z0 | Karnataka | Active | 01 Jul 2017 |
| 09AABCF5649N1Z2 | Uttar Pradesh | Active | 02 Dec 2024 |
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 Fomento Resources 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 Fomento Resources Private Limited
Fomento Resources is an active private limited company based in Panaji, Goa, India. The company works in metal retail and distribution, within the metals and minerals industry. It was incorporated on 08 July 2010 (16+ years old) and is registered under CIN U13209GA2010PTC006440.
Fomento Resources reported revenue of ₹660.96 Cr for FY 2024 (up 224% YoY).
Fomento Resources has 4 current directors:
- Shafeeq Ismail Mitha - Director
- Rajiv Kumar - Director
- Shankar Narayan - Director
- Ambar Auduth Timblo - Director
Fomento Resources reported a net profit of ₹290.81 Cr (net margin 44%) and EBITDA of ₹431.57 Cr (EBITDA margin 65.3%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Fomento Resources is 24% over three years and 36% over five years. In the latest year (FY 2024) revenue rose 224%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Fomento Resources is 30AABCF5649N1ZH, registered in Goa. The company has 5 GST registrations in all, of which 4 are active and 1 is cancelled or inactive. Other active GSTINs include 27AABCF5649N1Z4 (Maharashtra), 29AABCF5649N1Z0 (Karnataka), 09AABCF5649N1Z2 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Fomento Resources is U13209GA2010PTC006440. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fomento Resources has 81 court cases on record: 64 filed by the company and 11 filed against it. 30 are pending. Most are in the high courts.
Fomento Resources was incorporated on 08 July 2010, making it 16+ years old. It is registered with the Registrar of Companies, Goa.
Fomento Resources has 1 deal on record (1 funding round), with disclosed funding of ₹1.4 Lakh; the latest was in February 2015.
The peers of Fomento Resources by revenue are Maheshwari Fuelchem Private Limited, Rawalwasia Textile Industries Private Limited, Saroj Commodities Private Limited, Durga Infra Mining Private Limited, Auroglobal Comtrade Private Limited and 5 more, all in the Metals and Minerals industry (Materials Retail and Distribution, Mining).
Rajiv Kumar ceased to be Additional Director on 29 Sep 2023. Rajiv Kumar was appointed as Director on 01 Feb 2023. Kaustubh Vinayak Sawkar ceased to be Director on 01 Jan 2020. Fomento Resources has 12 board changes on record in total.