About Mind Assets Foundation
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Mind Assets Foundation is a private not for profit company based in Mumbai, Maharashtra, India. It operates in the service-based operations segment of the services sector. It was incorporated on 19 April 2013 and has been in existence for over 13 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U93000MH2013NPL242148.
The company has an authorised share capital of ₹1 Lakh and a paid-up capital of ₹1 Lakh. It was formerly known as Wills on Wheels Foundation. It is led by directors Uday Lalji Shah and Rahul Uday Shah.
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 G – 1 Riddhi Siddhi Apts. Mithagar Cross Road Mulund (E), Mumbai, Maharashtra, India – 400081.
As per the financials filed for FY 2025, the company reported a revenue of ₹25,000, a decline of 92% compared to the previous year. For the same year it recorded a net loss of ₹74,143 (net margin -296.6%) and EBITDA of -₹32,157 (EBITDA margin -128.6%). Revenue has declined at a compounded annual rate (CAGR) of 6% over three years and 40% over five years.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hemincense.com.
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- Registered AddressG – 1 Riddhi Siddhi Apts. Mithagar Cross Road Mulund (E), Mumbai, Maharashtra, India – 400081
- IndustryService, Other 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
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Financials of Mind Assets Foundation FY 2025 filings available
Mind Assets Foundation reported revenue of ₹25,000 (down 92% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Mind Assets Foundation
Revenue has declined at a compounded annual rate (CAGR) of 40% over five years, including a 92% fall in the latest year. EBITDA fell 230% 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 Mind Assets Foundation
| 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 | -₹32,157 | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹74,143 | •••• | •••• | •••• | •••• |
| 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 Mind Assets Foundation
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -128.6% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -296.6% | •••• | •••• | •••• | •••• |
| 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 Mind Assets Foundation 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.
Board of Directors of Mind Assets Foundation
Mind Assets Foundation has 2 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Uday Lalji Shah Also directs: Soulenza LLP, Hem Corporation Private Limited, Vinit Realties Private Limited and 2 more | Director | 19 Apr 2013 | 13 Years 6 Months | Current |
| Rahul Uday Shah Also directs: Soulenza LLP, Mind Assets Private Limited | Director | 19 Apr 2013 | 13 Years 6 Months | Current |
Auditor Details of Mind Assets Foundation
Mind Assets Foundation is audited by Dipak C. Parikh for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Dipak C. Parikh | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
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Verified entity values are shown only after access is granted.
Ownership and Shareholding of Mind Assets Foundation
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 Mind Assets Foundation
Mind Assets Foundation does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Mind Assets Foundation
Employment history and EPFO contributions of people linked to Mind Assets Foundation.
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 Mind Assets Foundation
Mind Assets Foundation has 3 board changes on record since 2013: 2 appointments and 1 cessation. The latest: Priti Surapal Shetty ceased to be Director on 31 Mar 2020.
Credit Ratings, Litigation & Regulatory Alerts for Mind Assets Foundation
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
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Verified entity values are shown only after access is granted.
MSME Payment Delays by Mind Assets Foundation
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
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Subsidiaries & Group Companies of Mind Assets Foundation
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 Mind Assets Foundation
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 Mind Assets Foundation
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 Mind Assets Foundation
Mind Assets Foundation is an active private not for profit company based in Mumbai, Maharashtra, India. The company works in other services, within the service industry. It was incorporated on 19 April 2013 (13+ years old) and is registered under CIN U93000MH2013NPL242148.
Mind Assets Foundation reported revenue of ₹25,000 for FY 2025 (down 92% YoY).
Mind Assets Foundation has 2 current directors:
- Uday Lalji Shah - Director
- Rahul Uday Shah - Director
Mind Assets Foundation reported a net loss of ₹74,143 (net margin -296.6%) and EBITDA of -₹32,157 (EBITDA margin -128.6%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Mind Assets Foundation is -6% over three years and -40% over five years. In the latest year (FY 2025) revenue fell 92%. CAGR is the steady yearly rate that links the first and the last year.
The CIN (Corporate Identification Number) of Mind Assets Foundation is U93000MH2013NPL242148. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Mind Assets Foundation was incorporated on 19 April 2013, making it 13+ years old. It is registered with the Registrar of Companies, Mumbai.
Priti Surapal Shetty ceased to be Director on 31 Mar 2020. Rahul Uday Shah was appointed as Director on 19 Apr 2013. Uday Lalji Shah was appointed as Director on 19 Apr 2013.
Mind Assets Foundation can be reached through the website hemincense.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Mind Assets Foundation is at G – 1 Riddhi Siddhi Apts. Mithagar Cross Road Mulund E, Mumbai, Maharashtra, India – 400081.