About Formosa Synthetics Private Limited
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Formosa Synthetics Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the woven packaging products segment of the packaging sector. It was incorporated on 18 May 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U24233KA2010PTC053708. Its GSTIN is 24AABCF5548A1Z3 (Gujarat). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹11.5 Lakh. It is led by directors Ashish Goenka and Saurabh Saraf.
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 Saraswati Nilaya No. 747/42 5th Main Road 4th Cross Vijayanagar, Bangalore, Karnataka, India – 560040.
As per the financials filed for FY 2025, the company reported a revenue of ₹329.38 Cr, a decline of 5% compared to the previous year. For the same year it recorded a net profit of ₹1.23 Cr (net margin 0.4%) and EBITDA of ₹10.93 Cr (EBITDA margin 3.3%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 27% over five years.
The company has about 11 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹68.38 Cr and satisfied charges of ₹6.64 Cr on record. The company has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹60 Lakh; the latest was in March 2014. Its 8 peer companies in the Packaging industry (Woven Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products) are compared by revenue, 4 larger and 4 smaller; the largest is Commercial Syn Bags Limited with revenue of ₹351.85 Cr. The company has 14 MSME Form 1 returns on record between 2018 and 2023, listing 119 overdue payments to 37 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 formosasynthetics.com.
Company details
Contact details
Formosa Synthetics Private Limited's registered office is in Bangalore, Karnataka. Its website is formosasynthetics.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSaraswati Nilaya No. 747/42 5th Main Road 4th Cross Vijayanagar, Bangalore, Karnataka, India – 560040
- IndustryPackaging, Woven Packaging Products
To see the full contact details of Formosa Synthetics 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
Business activity
The main business activity of Formosa Synthetics is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products |
To see the full business activity and turnover split of Formosa Synthetics Private Limited, buy the company report.
Financials of Formosa Synthetics Private Limited
FY 2024 filings availableFormosa Synthetics Private Limited reported revenue of ₹329.38 Cr (down 5% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 5% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 27%. EBITDA rose 67% 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 |
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| EBITDA | ₹10.93 Cr | ||||
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| Net Profit (PAT) | ₹1.23 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 3.3% | ||||
| Net Profit Margin | 0.4% | ||||
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To see the full financial statements and ratios of Formosa Synthetics Private Limited, buy the company report.
Board of directors of Formosa Synthetics Private Limited
Formosa Synthetics has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ashish Goenka Also directs: Panchamrit Polymer LLP | Director | 22 Aug 2018 | 8 Years 2 Months | Current |
| Saurabh Saraf | Director | 22 Aug 2018 | 8 Years 2 Months | Current |
Peer comparison
Formosa Synthetics Private Limited is compared with the 8 companies closest to it by revenue in the Packaging industry (Woven Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Commercial Syn Bags Limited | ₹351.85 Cr (FY 2025) | 21.0% | Indore, Madhya Pradesh, India | |||
| Pratap Synthetics Limited | ₹348.79 Cr (FY 2025) | 50.0% | Kolkata, West Bengal, India | |||
| Servo Packaging Limited | ₹335.3 Cr (FY 2025) | 27.0% | Kolkata, West Bengal, India | |||
| Mewar Polytex Limited | ₹334.97 Cr (FY 2025) | 32.0% | Rajasthan, India | |||
| Formosa Synthetics Private Limitedthis company | ₹329.38 Cr (FY 2025) | ₹1.23 Cr | 0.4% | -5.0% | 11 | Bangalore, Karnataka, India |
| Pashupati Laminators Private Limited | ₹327.57 Cr (FY 2025) | 36.0% | Gorakhpur, Uttar Pradesh, India | |||
| Sipani Fibres Limited | ₹316.38 Cr (FY 2025) | -5.0% | Bangalore, Karnataka, India | |||
| Lincon Polymers Private Limited | ₹316.35 Cr (FY 2025) | 10.0% | Ahmedabad, Gujarat, India | |||
| Shri Maa Polyfabs Limited | ₹308.64 Cr (FY 2025) | 6.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Formosa Synthetics Private Limited, buy the company report.
Auditor
Formosa Synthetics Private Limited is audited by V.K. Soni & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V.K. Soni & Co. | FY 2023 | 110405W |
Shareholding
The shareholding of Formosa Synthetics 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 Formosa Synthetics Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Apr 2022 | 100563812 | State Bank of India | ₹5.81 Cr | Open | |
| 11 Mar 2022 | 100556363 | Axis Bank Limited | ₹62.57 Cr | Open | |
| 20 Mar 2017 | 100119537 | State Bank of India | ₹4.91 Cr | Satisfied | |
| 07 Sep 2015 | 10589926 | Hdfc Bank Limited | ₹70 Lakh | Satisfied | |
| 30 Mar 2012 | 10356569 | The South Indian Bank Limited | ₹1.03 Cr | Satisfied |
To see the full charge records of Formosa Synthetics Private Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Formosa Synthetics Private Limited has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹60 Lakh; the latest was in March 2014.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Bluemoon Comtrade Private Limited |
| Feb 2014 | Secondary share transfer | Undisclosed | Buyer: Bluemoon Comtrade Private Limited Seller: Tornedo Agencies Private Limited , Intellectual Financial Advisory Private Limited , Yasodha Distributors Private Limited |
| Jan 2012 | Funding round | ₹50 Lakh | Investors: Intellectual Financial Advisory Private Limited , Yasodha Distributors Private Limited , Tornedo Agencies Private Limited |
| Feb 2011 | Funding round | ₹10 Lakh | Investors: Bluemoon Comtrade Private Limited , 2 individuals |
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 Formosa Synthetics Private 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
Formosa Synthetics Private Limited has 14 MSME Form 1 returns on record between 2018 and 2023, listing 119 overdue payments to 37 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 (5 of 37)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Coraplast Industries | |||
| Star Polypack Industries | |||
| Associated Jute Industries | |||
| Shree Jalaram Chem Trade |
To see the full MSME payment records of Formosa Synthetics Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Formosa Synthetics Private Limited has a workforce of 11 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
GST
Formosa Synthetics has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCF5548A1Z3 | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Formosa Synthetics Private Limited, buy the company report.
Recent activity
Formosa Synthetics Private Limited has 4 board changes on record since 2018: 2 appointments and 2 cessations. The latest: Murli Manohar Saraf ceased to be Director on 24 Aug 2018.
4 earlier events are in the company report.
Frequently asked questions
Formosa Synthetics is an active private limited company based in Bangalore, Karnataka, India. The company works in woven packaging products, within the packaging industry. It was incorporated on 18 May 2010 (16+ years old) and is registered under CIN U24233KA2010PTC053708.
Formosa Synthetics has 2 current directors:
- Ashish Goenka - Director
- Saurabh Saraf - Director
The latest financial statements of Formosa Synthetics on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Formosa Synthetics is 24AABCF5548A1Z3, registered in Gujarat. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Formosa Synthetics is U24233KA2010PTC053708. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Formosa Synthetics was incorporated on 18 May 2010, making it 16+ years old. It is registered with the Registrar of Companies, Bangalore.
Formosa Synthetics has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹60 Lakh; the latest was in March 2014.
The peers of Formosa Synthetics by revenue are Commercial Syn Bags Limited, Pratap Synthetics Limited, Servo Packaging Limited, Mewar Polytex Limited, Pashupati Laminators Private Limited and 3 more, all in the Packaging industry (Woven Products), with the same principal business activity (plastic products, non-metallic mineral products, rubber products, fabricated metal products).
Murli Manohar Saraf ceased to be Director on 24 Aug 2018. Santosh Saraf ceased to be Director on 24 Aug 2018. Ashish Goenka was appointed as Director on 22 Aug 2018. Formosa Synthetics has 4 board changes on record in total.
Formosa Synthetics has 14 MSME Form 1 returns on record between 2018 and 2023, listing 119 overdue payments to 37 micro and small suppliers. The latest return was filed on 16 Nov 2023.
Formosa Synthetics can be reached through the website formosasynthetics.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of Formosa Synthetics is at Saraswati Nilaya No. 74742 5th Main Road 4th Cross Vijayanagar, Bangalore, Karnataka, India – 560040.
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