Forward Financial Services Limited
About Forward Financial Services Limited
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Forward Financial Services Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 03 April 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U65900MH1986PLC039445.
The company has an authorised share capital of ₹6 Cr and a paid-up capital of ₹2.43 Cr. It was formerly known as Forward Management Consultants Pvt Ltd. It is led by directors including Deepak Wagle and Jyoti Deepak Wagle.
Its last annual general meeting (AGM) was held on 27 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹10.44 Lakh, a growth of 91% compared to the previous year. For the same year it recorded a net loss of ₹16.38 Lakh (net margin -157%) and EBITDA of -₹14.89 Lakh (EBITDA margin -142.7%). Revenue has declined at a compounded annual rate (CAGR) of 24% over three years and 6% over five years.
As per MCA filings, the company has open charges of ₹1 Cr on record. Court records list 5 cases involving the company, including 2 filed by the company and 3 filed against it.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Forward Financial Services has one previous CIN (Corporate Identification Number): U99999MH1986PTC039445. The current CIN is U65900MH1986PLC039445, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65900MH1986PLC039445 | Current |
| U99999MH1986PTC039445 | Previous |
Contact details
Forward Financial Services Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressFlat No. 51 5th Floor Mamta 'D' 926 A.M. Marg Next To Andhra Bank Prabhade, VI, Mumbai, Maharashtra, India – 400025
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
To see the full contact details of Forward Financial Services 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 Forward 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 Forward Financial Services Limited, buy the company report.
Financials of Forward Financial Services Limited
FY 2024 filings availableForward Financial Services Limited reported revenue of ₹10.44 Lakh (up 91% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue rose 91% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 6%. EBITDA fell 28% 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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| EBITDA | -₹14.89 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹16.38 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 | -142.7% | ||||
| Net Profit Margin | -157% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Forward Financial Services Limited, buy the company report.
Board of directors of Forward Financial Services Limited
Forward Financial Services has 3 directors on record. No former directors are listed.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Deepak Wagle Also directs: Deepjyoti Electronics Private Limited, Forward Televisions Limited, Forward Securities Limited and 3 more | Director | 03 Apr 1986 | 40 Years 6 Months | Current |
| Jyoti Deepak Wagle Also directs: Deepjyoti Electronics Private Limited, Forward Televisions Limited, Forward Securities Limited and 3 more | Director | 03 Apr 1986 | 40 Years 6 Months | Current |
| Kavita Arijit Chakravorty Also directs: Forward Televisions Limited, Forward Securities Limited | Director | 29 Jan 1997 | 29 Years 8 Months | Current |
Peer comparison
Forward Financial Services Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), 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 |
|---|---|---|---|---|---|---|
| Kanoi Leasfin Ltd | ₹10.53 Lakh (FY 2021) | 9.0% | Kolkata, West Bengal, India | |||
| Pee-Dee Finvest Pvt. Ltd. | ₹10.51 Lakh (FY 2025) | -4.0% | Kolkata, West Bengal, India | |||
| Aad Finlease Private Limited | ₹10.47 Lakh (FY 2024) | 0.0% | Delhi, India | |||
| Forward Financial Services Limitedthis company | ₹10.44 Lakh (FY 2024) | -₹16.38 Lakh | -157% | 91.0% | Mumbai, Maharashtra, India | |
| Rahee Viniyog Limited | ₹10.41 Lakh (FY 2021) | 0.0% | Howrah, West Bengal, India | |||
| Sr Securities Limited | ₹10.4 Lakh (FY 2024) | 16.0% | Telangana, India | |||
| Sahyadree Multicity Finance Private Limited | ₹10.4 Lakh (FY 2024) | -87.0% | Hooghly, West Bengal, India |
To see the full peer comparison of Forward Financial Services Limited, buy the company report.
Auditor
Forward Financial Services Limited is audited by N. MOHAN for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| N. MOHAN | FY 2023 | 016272 |
Shareholding
The shareholding of Forward Financial Services 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 Forward Financial Services Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Oct 2024 | 101004880 | Others | ₹1 Cr | Open | |
| 15 Jan 1990 | 90347998 | The Saraswat Co-Operative Bank Ltd.; | ₹24,000 | Open |
Total charge records: 2 View all charges
Legal cases
Forward Financial Services Limited has 5 court cases on record: 2 filed by Forward Financial Services, 3 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 1 | 0 |
| District courts | 2 | 2 | 0 |
Cases on record (4 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Primus Chemicals Ltd. | Disposed |
| Bombay High Court | Court case (APP) | Filed against the company by Primus Chemical Ltd MP | Disposed |
| District court, Nagpur, Maharashtra | Civil suit | Filed against the company by Hind Finance Industries Invest. Ltd. | Disposed |
| District court, Nagpur, Maharashtra | Civil suit | Filed against the company by an individual | Disposed |
To see the full case history of Forward Financial Services 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 Forward Financial Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Forward Financial Services Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Forward Financial Services Limited has 3 board changes on record since 1986: 3 appointments. The latest: Kavita Arijit Chakravorty was appointed as Director on 29 Jan 1997.
Frequently asked questions
Forward Financial Services is an active public limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 03 April 1986 (40+ years old) and is registered under CIN U65900MH1986PLC039445.
Forward Financial Services has 3 current directors:
- Deepak Wagle - Director
- Jyoti Deepak Wagle - Director
- Kavita Arijit Chakravorty - Director
The latest financial statements of Forward Financial Services on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 27 September 2024. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Forward Financial Services is U65900MH1986PLC039445. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Forward Financial Services has 5 court cases on record: 2 filed by the company and 3 filed against it. Most are in the high courts.
Forward Financial Services was incorporated on 03 April 1986, making it 40+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Forward Financial Services by revenue are Kanoi Leasfin Ltd, Pee-Dee Finvest Pvt. Ltd, Aad Finlease Private Limited, Rahee Viniyog Limited, Sr Securities Limited and 1 more, all in the BFSI industry (NBFC Investment and Credit Companies, Small Non Deposit NBFC), with the same principal business activity (other financial activities).
Kavita Arijit Chakravorty was appointed as Director on 29 Jan 1997. Deepak Wagle was appointed as Director on 03 Apr 1986. Jyoti Deepak Wagle was appointed as Director on 03 Apr 1986.
The registered office of Forward Financial Services is at Flat No. 51 5th Floor Mamta D 926 A.M. Marg Next To Andhra Bank Prabhade, VI, Mumbai, Maharashtra, India – 400025.
Forward Financial Services operates in the financial services industry, in the nbfc segment.
Forward Financial Services has open charges of ₹1 Cr and no satisfied charges on record as per latest MCA filings.