Frontline Financial Services Limited
About Frontline Financial Services Limited
Data last updated:
Frontline Financial Services Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the diversified financial services segment of the financial services sector. It was incorporated on 19 September 1991 and has been in existence for over 35 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L65910GJ1991PLC016289. Its GSTIN is 24AAACF9684Q1ZU (Gujarat). It is a listed company as per MCA records. Its shares are listed on BSE: 531685.
The company has an authorised share capital of ₹6.5 Cr and a paid-up capital of ₹5.9 Cr. It is led by directors including Sandeep Chhaganlal Mathur (Managing Director) and Pradeep Babulal Shah.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Office No 803 Eighth Floor Wallstreet II Ellisbridge, Ahmedabad, Gujarat, India – 380006.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹2.94 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹1 Lakh (net margin 0.3%) and EBITDA of ₹2 Lakh (EBITDA margin 0.7%). The net worth stands at ₹6.43 Cr (up 0.2% YoY). Total assets are valued at ₹9.2 Cr (down 6.4% YoY).
Court records list 8 cases involving the company, including 2 filed by the company and 6 filed against it; 5 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Frontline Financial Services has one previous CIN (Corporate Identification Number): U65910GJ1991PTC016289. The current CIN is L65910GJ1991PLC016289, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L65910GJ1991PLC016289 | Current |
| U65910GJ1991PTC016289 | Previous |
Contact details
Frontline Financial Services Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressOffice No 803 Eighth Floor Wallstreet II Ellisbridge, Ahmedabad, Gujarat, India – 380006
- IndustryFinancial Services, Diversified Financial Services
To see the full contact details of Frontline 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 Frontline Financial Services is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Frontline Financial Services Limited, buy the company report.
Financials of Frontline Financial Services Limited
FY 2025-26 filings availableFrontline Financial Services Limited reported revenue of ₹2.94 Cr (up 488% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2.94 | 0.50 | 2.52 | 2.07 | 0.11 | 0.00 | 0.02 |
| Revenue growth | +488.0% | -80.2% | +21.7% | +1781.8% | - | -100.0% | - |
| EBITDA | 0.02 | (0.10) | (0.06) | (0.12) | (0.10) | 0.00 | (0.12) |
| EBITDA margin | +0.7% | -20.0% | -2.4% | -5.8% | -90.9% | - | -600.0% |
| Profit before tax | 0.02 | 0.05 | (0.07) | 0.09 | 0.01 | 0.01 | 0.00 |
| Net profit | 0.01 | 0.05 | (0.07) | 0.06 | 0.01 | 0.01 | 0.00 |
| Net profit margin | +0.3% | +10.0% | -2.8% | +2.9% | +9.1% | - | 0.0% |
| EPS (₹) | 0.01 | 0.07 | (0.09) | 0.09 | 0.01 | 0.00 | 0.00 |
| Balance sheet | |||||||
| Total assets | 9.20 | 9.83 | 10.41 | 9.35 | 9.25 | 10.10 | 9.91 |
| Net worth | 6.43 | 6.42 | 6.38 | 6.43 | 6.38 | 6.37 | 6.37 |
| Total debt | 0.25 | 0.25 | 0.00 | 0.00 | 0.00 | 0.57 | 0.38 |
| Cash & bank | 0.36 | 0.36 | 0.36 | 0.37 | 0.32 | 0.60 | 0.60 |
| Net working capital | 2.86 | 3.08 | 3.87 | 2.80 | 2.76 | 3.01 | 2.78 |
| Cash flow | |||||||
| Cash from operations | 0.96 | (0.18) | 0.00 | 0.05 | 0.30 | (0.19) | (0.01) |
| Cash from investing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from financing | 0.00 | 0.18 | 0.00 | 0.00 | (0.57) | 0.20 | 0.36 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.29 | 1.15 | 0.41 | 0.87 | 0.51 | 0.21 | 0.02 | 0.07 |
| Revenue growth (YoY) | -43.1% | +447.6% | +1950.0% | +1142.9% | +155.0% | - | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.22 | 0.00 | 0.00 |
| Total expenses | 0.30 | 1.12 | 0.42 | 0.86 | 0.49 | 0.27 | 0.04 | 0.12 |
| EBITDA | (0.01) | 0.03 | (0.01) | 0.01 | 0.02 | (0.06) | (0.02) | (0.05) |
| EBITDA margin | -3.4% | +2.6% | -2.4% | +1.1% | +3.9% | -28.6% | -100.0% | -71.4% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | (0.01) | 0.03 | (0.01) | 0.01 | 0.02 | 0.16 | (0.02) | (0.05) |
| Tax | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.29 | 1.15 | 0.41 | 0.87 | 0.51 | 0.21 | 0.02 | 0.07 |
| Revenue growth (YoY) | -43.1% | +447.6% | +1950.0% | +1142.9% | +155.0% | - | - | - |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.22 | 0.00 | 0.00 |
| Total expenses | 0.30 | 1.12 | 0.42 | 0.86 | 0.49 | 0.27 | 0.04 | 0.12 |
| EBITDA | (0.01) | 0.03 | (0.01) | 0.01 | 0.02 | (0.06) | (0.02) | (0.05) |
| EBITDA margin | -3.4% | +2.6% | -2.4% | +1.1% | +3.9% | -28.6% | -100.0% | -71.4% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | (0.01) | 0.03 | (0.01) | 0.01 | 0.02 | 0.16 | (0.02) | (0.05) |
| Tax | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.94 | 0.50 | 2.52 | 2.07 | 0.11 | 0.00 | 0.02 |
| Revenue growth | +488.0% | -80.2% | +21.7% | +1781.8% | - | -100.0% | - |
| Other income | 0.00 | 0.22 | 0.00 | 0.21 | 0.11 | 0.01 | 0.14 |
| Total expenses | 2.92 | 0.60 | 2.58 | 2.19 | 0.21 | 0.00 | 0.14 |
| Employee cost | 0.00 | 0.01 | 0.02 | 0.02 | 0.03 | 0.00 | 0.05 |
| EBITDA | 0.02 | (0.10) | (0.06) | (0.12) | (0.10) | 0.00 | (0.12) |
| EBITDA margin | +0.7% | -20.0% | -2.4% | -5.8% | -90.9% | - | -600.0% |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.07 | 0.01 | 0.00 | 0.00 | 0.00 | 0.02 |
| Profit before tax | 0.02 | 0.05 | (0.07) | 0.09 | 0.01 | 0.01 | 0.00 |
| Tax | 0.01 | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 | 0.00 |
| Net profit | 0.01 | 0.05 | (0.07) | 0.06 | 0.01 | 0.01 | 0.00 |
| Net profit margin | +0.3% | +10.0% | -2.8% | +2.9% | +9.1% | - | 0.0% |
| EPS (₹) | 0.01 | 0.07 | (0.09) | 0.09 | 0.01 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 5.90 | 5.90 | 5.90 | 5.90 | 5.90 | 5.90 | 5.90 |
| Reserves & surplus | 0.53 | 0.52 | 0.48 | 0.53 | 0.48 | 0.47 | 0.47 |
| Shareholders' funds (net worth) | 6.43 | 6.42 | 6.38 | 6.43 | 6.38 | 6.37 | 6.37 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.25 | 0.25 | 0.00 | 0.00 | 0.00 | 0.57 | 0.38 |
| Total debt | 0.25 | 0.25 | 0.00 | 0.00 | 0.00 | 0.57 | 0.38 |
| Total liabilities | 9.20 | 9.83 | 10.41 | 9.35 | 9.25 | 10.10 | 9.91 |
| Assets | |||||||
| Gross block | 0.01 | 0.01 | 1.01 | 1.01 | 1.01 | 1.01 | 0.01 |
| Net block | 0.01 | 0.01 | 1.01 | 1.01 | 1.01 | 1.01 | 0.01 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Inventories | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 |
| Sundry debtors | 1.57 | 0.80 | 1.66 | 0.66 | 0.53 | 0.46 | 0.46 |
| Cash & bank balances | 0.36 | 0.36 | 0.36 | 0.37 | 0.32 | 0.60 | 0.60 |
| Loans & advances | 0.04 | 0.04 | 0.02 | 0.00 | 0.01 | 0.01 | 0.01 |
| Total current assets | 4.12 | 3.35 | 4.19 | 3.18 | 3.01 | 3.22 | 3.22 |
| Total current liabilities | 1.26 | 0.27 | 0.32 | 0.38 | 0.25 | 0.21 | 0.44 |
| Net working capital | 2.86 | 3.08 | 3.87 | 2.80 | 2.76 | 3.01 | 2.78 |
| Total assets | 9.20 | 9.83 | 10.41 | 9.35 | 9.25 | 10.10 | 9.91 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.36 | 0.36 | 0.37 | 0.32 | 0.60 | 0.60 | 0.25 |
| Net cash from operating activities | 0.96 | (0.18) | 0.00 | 0.05 | 0.30 | (0.19) | (0.01) |
| Net cash from investing activities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net cash from financing activities | 0.00 | 0.18 | 0.00 | 0.00 | (0.57) | 0.20 | 0.36 |
| Net change in cash | 0.96 | 0.00 | 0.00 | 0.04 | (0.27) | 0.00 | 0.35 |
| Closing cash | 0.36 | 0.36 | 0.36 | 0.37 | 0.32 | 0.60 | 0.60 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +488.0% | -80.2% | +21.7% | +1781.8% | - | -100.0% | - |
| EBITDA growth | +120.0% | -66.7% | +50.0% | -20.0% | - | +100.0% | - |
| PBT growth | -60.0% | +9998.0% | - | +800.0% | 0.0% | +9997.0% | +9997.0% |
| Net income growth | -80.0% | +171.4% | -216.7% | +500.0% | 0.0% | - | - |
| Revenue CAGR (3Y) | +12.4% | +65.7% | - | +369.5% | -74.5% | -100.0% | -56.9% |
| EBITDA CAGR (3Y) | - | 0.0% | - | 0.0% | - | -100.0% | - |
| Profitability & leverage | |||||||
| Net income margin | +0.3% | +10.0% | -2.8% | +2.9% | +9.1% | - | 0.0% |
| Return on capital employed | - | +1.1% | -0.4% | +0.9% | +0.1% | 0.0% | +0.2% |
| Return on net worth | - | +0.6% | -0.8% | +0.8% | +0.2% | 0.0% | 0.0% |
| Debt / equity | - | 0.02 | 0.00 | 0.00 | 0.04 | 0.07 | 0.03 |
| Long-term debt / equity | - | 0.02 | 0.00 | 0.00 | 0.04 | 0.07 | 0.03 |
| Interest cover | 0.00 | -70.00 | -16.67 | 0.00 | 0.00 | - | -16.67 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 0.50 | 2.50 | 2.05 | 0.11 | 0.02 | 2.00 |
| Inventory turnover | - | 0.23 | 1.17 | 0.96 | 0.05 | 0.00 | 0.01 |
| Debtors turnover | - | 0.41 | 2.17 | 3.48 | 0.22 | 0.02 | 0.03 |
| EPS (₹) | 0.01 | 0.07 | (0.09) | 0.09 | 0.01 | 0.00 | 0.00 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 10.88 | 10.81 | 10.90 | 10.81 | 10.80 | 10.80 |
To see the full year-wise statements and ratios of Frontline Financial Services Limited, buy the company report.
Board of directors of Frontline Financial Services Limited
Frontline Financial Services has 5 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pradeep Babulal Shah Also directs: Anmol Tradeline Private Limited | Director | 10 Apr 2017 | 9 Years 6 Months | Current |
| Viki Jayeshkumar Shah | Director | 18 May 2017 | 9 Years 5 Months | Current |
| Sejal Kaushikkumar Shah Also directs: Assorted Quartz Minetech LLP | Director | 22 May 2018 | 8 Years 5 Months | Current |
| Sandeep Chhaganlal Mathur | Managing Director | 05 Jul 2018 | 8 Years 4 Months | Current |
| Raghvendradhari Nandkishor Sharma Also directs: Aaryavart Infrabuild LLP, Aaryaman Infraprojects LLP | Director | 15 Dec 2021 | 4 Years 10 Months | Current |
Auditor
Frontline Financial Services Limited is audited by J.S. SHAH & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| J.S. SHAH & CO. | FY 2023 | 132059W |
Shareholding
Shareholding for the quarter ended Jun 2026: promoters hold 30.70%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 69.30%.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |
|---|---|---|---|---|
| Promoters | 30.70% | 30.70% | 30.70% | 30.70% |
| Public | 69.30% | 69.30% | 69.30% | 69.30% |
Legal cases
Frontline Financial Services Limited has 8 court cases on record: 2 filed by Frontline Financial Services, 6 filed against it. 5 cases are pending and 3 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 5 | 4 | 5 |
| High courts | 3 | 2 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, GUJARAT | Special civil application | Filed by the company against Bombay Stock Exchange Limited and 1 other | Disposed |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed against the company by Adinath Corporation Through Pulkit Singhi | Pending |
| District court, Indore, Madhya Pradesh | Court case (SC NIA) | Filed against the company by M/S Adinath Corporation Thro. Partner Pulkit Sindhi | Pending |
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Shaan Infra and 1 other | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed against the company by Shubham Corporation Through Mahenra Bhati | Pending |
To see the full case history of Frontline 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 Frontline Financial Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Frontline Financial Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACF9684Q1ZU | Gujarat | Active | 18 Jun 2018 |
To see the full GST registrations and return filing status of Frontline Financial Services Limited, buy the company report.
Recent activity
Frontline Financial Services Limited has 29 board changes on record since 1995: 17 appointments and 12 cessations. The latest: Isha Badruka ceased to be Company Secretary on 31 Jul 2025.
20 earlier events are in the company report.
News
Frequently asked questions
Frontline Financial Services is an active public limited company based in Ahmedabad, Gujarat, India. The company works in diversified financial services, within the financial services industry. It was incorporated on 19 September 1991 (35+ years old) and is registered under CIN L65910GJ1991PLC016289. Listed on BSE: 531685.
Frontline Financial Services reported revenue of ₹2.94 Cr for FY 2025-26 (up 488% YoY) based on standalone financials.
Frontline Financial Services has 5 current directors:
- Sandeep Chhaganlal Mathur - Managing Director
- Pradeep Babulal Shah - Director
- Viki Jayeshkumar Shah - Director
- Sejal Kaushikkumar Shah - Director
- Raghvendradhari Nandkishor Sharma - Director
The latest financial statements of Frontline Financial Services on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Frontline Financial Services is 24AAACF9684Q1ZU, registered in Gujarat.
The CIN (Corporate Identification Number) of Frontline Financial Services is L65910GJ1991PLC016289. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Frontline Financial Services is a listed company as per MCA records. Its shares are listed on BSE (code: 531685).
Frontline Financial Services has 8 court cases on record: 2 filed by the company and 6 filed against it. 5 are pending. Most are in the district courts.
Frontline Financial Services was incorporated on 19 September 1991, making it 35+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Isha Badruka ceased to be Company Secretary on 31 Jul 2025. Isha Badruka was appointed as Company Secretary on 04 Oct 2024. Raghvendradhari Nandkishor Sharma was appointed as Director on 15 Dec 2021. Frontline Financial Services has 29 board changes on record in total.
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