About Formula Next Express Private Limited
Data last updated:
Formula Next Express Private Limited is a private limited company based in Kolkata, West Bengal, India. It operates in the carriers services segment of the transport and logistics sector. It was incorporated on 16 August 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN U64120WB2010PTC152319. Its GSTIN is 19AABCF5857G1ZE (West Bengal).
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors Sheikh Ansarul Azim and Rizwana Raffat Azim.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 16B Shakespeare Sarani Ground Floor B. K. Market, Kolkata, West Bengal, India – 700071.
As per the financials filed for FY 2025, the company reported a revenue of ₹11.39 Cr, a growth of 31% compared to the previous year. For the same year it recorded a net profit of ₹40.22 Lakh (net margin 3.5%) and EBITDA of ₹1.38 Cr (EBITDA margin 12.1%). Revenue has grown at a compounded annual rate (CAGR) of 60% over three years and 74% over five years.
As per MCA filings, the company has open charges of ₹2.02 Cr on record. Court records list 12 cases involving the company, including 3 filed by the company and 8 filed against it; 10 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website formulanext.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address16B Shakespeare Sarani Ground Floor B. K. Market, Kolkata, West Bengal, India – 700071
- IndustryTransport and Logistics, Carriers Services
- 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 Formula Next Express Private Limited
The main business activity of Formula Next Express is transport and storage. In detail, this covers land transport via road.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| H | Transport and storage | H1 | Land Transport via Road | 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 Formula Next Express Private Limited FY 2025 filings available
Formula Next Express Private Limited reported revenue of ₹11.39 Cr (up 31% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Formula Next Express Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 74% over five years, including 31% growth in the latest year. EBITDA rose 80% 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 Formula Next Express Private Limited
| 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 | ₹1.38 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹40.22 Lakh | •••• | •••• | •••• | •••• |
| 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 Formula Next Express Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 12.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 3.5% | •••• | •••• | •••• | •••• |
| 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 Formula Next Express 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 Formula Next Express Private Limited
Formula Next Express Private Limited is compared with the companies closest to it by revenue in the Transport and Logistics industry (Diversified Logistics). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Wheel India SCM Solutions Private Limited | ₹11.42 Cr (FY 2025) | •••• | •••• | -3.0% | •••• | New Delhi, Delhi, India |
| Transnet Express Private Limited | ₹11.41 Cr (FY 2025) | •••• | •••• | 27.0% | •••• | Bangalore, Karnataka, India |
| Reeya Safelogistics Private Limited | ₹11.41 Cr (FY 2024) | •••• | •••• | 44.0% | •••• | New Delhi, Delhi, India |
| Chamadia Distribution Private Limited | ₹11.4 Cr (FY 2025) | •••• | •••• | -19.0% | •••• | Pune, Maharashtra, India |
| R Square MLG Logistics Private Limited | ₹11.39 Cr (FY 2024) | •••• | •••• | 36.0% | •••• | Chennai, Tamil Nadu, India |
| Formula Next Express Private Limited this company | ₹11.39 Cr (FY 2025) | •••• | •••• | 31.0% | •••• | Kolkata, West Bengal, India |
| HDC Global Logistics Private Limited | ₹11.38 Cr (FY 2025) | •••• | •••• | 109.0% | •••• | Thane, Maharashtra, India |
| Mountsky Shipping Private Limited | ₹11.37 Cr (FY 2025) | •••• | •••• | 0.0% | •••• | New Delhi, Delhi, India |
| Bombay Gujrat Roadlines Private Limited | ₹11.36 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Chandigarh, India |
| P&P Exim Pvt Ltd | ₹11.33 Cr (FY 2024) | •••• | •••• | 9.0% | •••• | Kolkata, West Bengal, India |
| Sai Seair Logistics Private Limited | ₹11.32 Cr (FY 2025) | •••• | •••• | 91.0% | •••• | Ahmedabad, Gujarat, India |
Peers are the five companies nearest above and the five nearest below Formula Next Express by revenue in the Transport and Logistics industry (Diversified Logistics), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Formula Next Express Private Limited
Formula Next Express Private Limited is audited by JINDAL PANJAK AND CO for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| JINDAL PANJAK AND CO | 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 Formula Next Express Private Limited
Formula Next Express 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 |
|---|---|---|---|---|
| Sheikh Ansarul Azim | Director | 16 Aug 2010 | 16 Years 1 Months | Current |
| Rizwana Raffat Azim | Director | 09 Aug 2021 | 5 Years 2 Months | Current |
Ownership and Shareholding of Formula Next Express 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 Formula Next Express Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 Jul 2025 | Others | ₹2 Cr | Open |
| 31 Jan 2024 | Others | ₹1.77 Lakh | Open |
Total charge records: 2 View all charges
Legal Cases of Formula Next Express Private Limited
Formula Next Express Private Limited has 12 court cases on record: 3 filed by Formula Next Express, 8 filed against it, 1 where it is another party. 10 cases are pending and 2 are disposed. Status as checked between 21 Sep 2026 and 23 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 9 | 8 | 9 |
| High courts | 3 | 0 | 1 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Aditya Birla Finance Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Yes Bank Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Poonawalla Fincorp Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Idfc First Bank Limited | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Neogrowth Credit Private Limited | Pending |
Full case history
All 12 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.
Employees and EPFO Compliance at Formula Next Express Private Limited
Employment history and EPFO contributions of people linked to Formula Next Express.
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.
Recent Activity on Formula Next Express Private Limited
Formula Next Express Private Limited has 4 board changes on record since 2010: 2 appointments and 2 cessations. The latest: Rizwana Raffat Azim was appointed as Director on 09 Aug 2021.
Credit Ratings, Litigation & Regulatory Alerts for Formula Next Express 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.
MSME Payment Delays by Formula Next Express Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Formula Next Express 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 Formula Next Express Private Limited
Formula Next Express has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AABCF5857G1ZE | West Bengal | Active | 01 Jul 2017 |
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 Formula Next Express 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 Formula Next Express Private Limited
Formula Next Express is an active private limited company based in Kolkata, West Bengal, India. The company works in carriers services, within the transport and logistics industry. It was incorporated on 16 August 2010 (16+ years old) and is registered under CIN U64120WB2010PTC152319.
Formula Next Express reported revenue of ₹11.39 Cr for FY 2025 (up 31% YoY).
Formula Next Express has 2 current directors:
- Sheikh Ansarul Azim - Director
- Rizwana Raffat Azim - Director
Formula Next Express reported a net profit of ₹40.22 Lakh (net margin 3.5%) and EBITDA of ₹1.38 Cr (EBITDA margin 12.1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Formula Next Express is 60% over three years and 74% over five years. In the latest year (FY 2025) revenue rose 31%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Formula Next Express is 19AABCF5857G1ZE, registered in West Bengal.
The CIN (Corporate Identification Number) of Formula Next Express is U64120WB2010PTC152319. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Formula Next Express has 12 court cases on record: 3 filed by the company and 8 filed against it. 10 are pending. Most are in the district courts.
Formula Next Express was incorporated on 16 August 2010, making it 16+ years old. It is registered with the Registrar of Companies, Kolkata.
The peers of Formula Next Express by revenue are Wheel India SCM Solutions Private Limited, Transnet Express Private Limited, Reeya Safelogistics Private Limited, Chamadia Distribution Private Limited, R Square MLG Logistics Private Limited and 5 more, all in the Transport and Logistics industry (Diversified Logistics).
Rizwana Raffat Azim was appointed as Director on 09 Aug 2021. Sekh Ahsanul Azim ceased to be Director on 09 Aug 2021. Rizwana Raffat Azim ceased to be Director on 01 Jun 2015. Formula Next Express has 4 board changes on record in total.