About NL Forex Private Limited
Data last updated:
NL Forex Private Limited was a private limited company based in Mumbai, Maharashtra, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the forex services segment of the financial services sector. It was incorporated on 02 February 1999.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U67190MH1999PTC118112. Its GSTIN is 27AAACN7242E1ZN (Maharashtra). The company held 7 GST registrations, of which 3 are active.
The company had an authorised share capital of ₹1 Cr and a paid-up capital of ₹59.07 Lakh. It was formerly known as Nl Forex Limited. It was led by directors including Rajesh Himatlal (Managing Director) and Yash Rajesh.
Its last annual general meeting (AGM) was held on 20 September 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office was at Kantilal House14 Mama Parmanand Opera House, Mumbai, Maharashtra, India – 400004.
As per the financials filed for FY 2021, the company reported a revenue of ₹39.48 Lakh, a decline of 98% compared to the previous year. For the same year it recorded a net profit of ₹1.56 Lakh (net margin 4%) and EBITDA of ₹4.66 Lakh (EBITDA margin 11.8%). Revenue has declined at a compounded annual rate (CAGR) of 77% over three years and 70% over five years.
The company had about 4 employees on its provident fund (EPFO) records before it was dissolved.
As per MCA filings, the company had satisfied charges of ₹10.4 Cr on record. Court records list 40 cases involving the company, including 30 filed by the company and 10 filed against it; 2 cases are pending.
The last known website on record is nlforex.in.
Company details
CIN history
NL Forex has one previous CIN (Corporate Identification Number): U67190MH1999PLC118112. The current CIN is U67190MH1999PTC118112, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U67190MH1999PTC118112 | Current |
| U67190MH1999PLC118112 | Previous |
Contact details
NL Forex Private Limited's registered office is in Mumbai, Maharashtra. Its website is nlforex.in. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressKantilal House14 Mama Parmanand Opera House, Mumbai, Maharashtra, India – 400004
- IndustryFinancial Services, Forex Services
To see the full contact details of NL Forex 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 NL Forex 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 NL Forex Private Limited, buy the company report.
Financials of NL Forex Private Limited
FY 2021 filings availableNL Forex Private Limited reported revenue of ₹39.48 Lakh (down 98% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 70% over five years, including a 98% fall in the latest year. EBITDA fell 25% 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 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹39.48 Lakh | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹4.66 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1.56 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
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 11.8% | ||||
| Net Profit Margin | 4% | ||||
| 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 | |||||
To see the full financial statements and ratios of NL Forex Private Limited, buy the company report.
Board of directors of NL Forex Private Limited
NL Forex has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajesh Himatlal Also directs: NL Stones Private Limited, Wonder Estate Developers Pvt Ltd, NL Infrastructure and Projects Private Limited and 5 more | Managing Director | 02 Feb 1999 | 27 Years 8 Months | As last reported |
| Yash Rajesh Also directs: NL Stones Private Limited, Wonder Estate Developers Pvt Ltd, NL Infrastructure and Projects Private Limited and 5 more | Director | 23 Apr 2008 | 18 Years 6 Months | As last reported |
| Jai Rajesh Also directs: NL Stones Private Limited, Wonder Estate Developers Pvt Ltd, NL Infrastructure and Projects Private Limited and 5 more | Director | 29 Oct 2004 | 21 Years 11 Months | As last reported |
Peer comparison
NL Forex Private Limited is compared with the 6 companies closest to it by revenue in the BFSI industry (Money Exchange Services), 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 |
|---|---|---|---|---|---|---|
| Mary Forex Limited | ₹40.58 Lakh (FY 2024) | Kolkata, West Bengal, India | ||||
| Gutzo Money Foreign Exchange Private Limited | ₹40.07 Lakh (FY 2020) | Ernakulam, Kerala, India | ||||
| Solidus Forex Limited | ₹40.02 Lakh (FY 2025) | -47.0% | Guwahati, Assam, India | |||
| Yes World Forex Private Limited | ₹39.82 Lakh (FY 2025) | -9.0% | Chennai, Tamil Nadu, India | |||
| NL Forex Private Limitedthis company | ₹39.48 Lakh (FY 2021) | ₹1.56 Lakh | 4% | -98.0% | 4 | Mumbai, Maharashtra, India |
| Ekant Forex Services Private Limited | ₹38.62 Lakh (FY 2025) | -22.0% | New Delhi, Delhi, India | |||
| Swap Forex Services India Private Limited | ₹36.59 Lakh (FY 2025) | -26.0% | Kochi, Kerala, India |
To see the full peer comparison of NL Forex Private Limited, buy the company report.
Auditor
NL Forex Private Limited is audited by SUNIL VANKAWALA & ASSOCIATES for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SUNIL VANKAWALA & ASSOCIATES | FY 2021 | 110616W |
Shareholding
The shareholding of NL Forex Private Limited is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of NL Forex Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Feb 2008 | 10139596 | Indusind Bank Ltd. | ₹8.4 Cr | Satisfied | |
| 24 Jun 2004 | 90243713 | Centeral Bank of India | ₹2 Cr | Satisfied |
To see the full charge records of NL Forex Private Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
NL Forex Private Limited has 40 court cases on record: 30 filed by NL Forex, 10 filed against it. 2 cases are pending and 38 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 27 | 3 | 2 |
| District courts | 11 | 7 | 0 |
| Supreme Court | 1 | 0 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 40)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed by the company against The Reserve Bank of India | Pending |
| Patna High Court | Court case (CWJC) | Filed by the company against M/S Centrum Direct Ltd., Through Its Managing Director, Centrum House, C.S.T. Road, Vidyanagari Mar and 1 other | Disposed |
| Bombay High Court | Writ petition | Filed by the company against Reserve Bank of India and Anr. | Disposed |
| High Court of Karnataka | Writ petition | Filed by the company against M/S Bangalore International Airport Ltd and 2 others | Disposed |
| Bombay High Court | Court case (CHSW) | Filed by the company against The Reserve Bank of India | Disposed |
To see the full case history of NL Forex Private 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 NL Forex Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
NL Forex Private Limited has a workforce of 4 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
NL Forex has 7 GST registrations: 3 active and 4 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACN7242E1ZN | Maharashtra | Active | 01 Jul 2017 |
| 29AAACN7242E1ZJ | Karnataka | Active | 01 Jul 2017 |
| 32AAACN7242E1ZW | Kerala | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of NL Forex Private Limited, buy the company report.
Recent activity
NL Forex Private Limited has 6 board changes on record since 1999: 3 appointments and 3 cessations. The latest: Mukesh Himatlal ceased to be Director on 04 Feb 2021.
2 earlier events are in the company report.
Frequently asked questions
NL Forex has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
NL Forex was a private limited company based in Mumbai, Maharashtra, India. The company worked in forex services, within the financial services industry. It was incorporated on 02 February 1999 and is registered under CIN U67190MH1999PTC118112. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
NL Forex was incorporated on 02 February 1999. It is registered with the Registrar of Companies, Mumbai.
NL Forex had 3 directors:
- Rajesh Himatlal - Managing Director
- Yash Rajesh - Director
- Jai Rajesh - Director
The CIN (Corporate Identification Number) of NL Forex is U67190MH1999PTC118112. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of NL Forex is at Kantilal House14 Mama Parmanand Opera House, Mumbai, Maharashtra, India – 400004.
NL Forex can be reached through the website nlforex.in. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of NL Forex on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 20 September 2021. Year-wise statements from 2015 are in the company report.
The GSTIN of NL Forex is 27AAACN7242E1ZN, registered in Maharashtra. The company has 7 GST registrations in all, of which 3 are active and 4 are cancelled or inactive. Other active GSTINs include 29AAACN7242E1ZJ (Karnataka), 32AAACN7242E1ZW (Kerala).
NL Forex operated in the financial services industry, in the forex services segment.
The peers of NL Forex by revenue are Mary Forex Limited, Gutzo Money Foreign Exchange Private Limited, Solidus Forex Limited, Yes World Forex Private Limited, Ekant Forex Services Private Limited and 1 more, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).