Vardhman Forex Private Limited
About Vardhman Forex Private Limited
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Vardhman Forex Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the forex services segment of the financial services sector. It was incorporated on 16 January 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67200MH2017PTC289613. Its GSTIN is 27AAFCV7389D2ZV (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹30 Lakh and a paid-up capital of ₹27 Lakh. It is led by directors Pawan Roshanlal Kothari and Mayur Pawankumar Kothari.
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 Shop No.1B Royal Cottage Nehru Road Next To Vakola Masjid Santacruz East, Mumbai, Maharashtra, India – 400055.
As per the financials filed for FY 2025, the company reported a revenue of ₹4 Cr, a decline of 13% compared to the previous year. For the same year it recorded a net profit of ₹19,465 (net margin 0%) and EBITDA of ₹43,198 (EBITDA margin 0.1%). Revenue has grown at a compounded annual rate (CAGR) of 192% over three years and 52% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered AddressShop No.1B Royal Cottage Nehru Road Next To Vakola Masjid Santacruz East, Mumbai, Maharashtra, India – 400055
- IndustryFinancial Services, Forex 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 Vardhman Forex Private Limited
The main business activity of Vardhman Forex is financial and insurance activities. In detail, this covers activities auxiliary to financial service and insurance activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance activities | 66 | Activities auxiliary to financial service and insurance activities | 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 Vardhman Forex Private Limited FY 2025 filings available
Vardhman Forex Private Limited reported revenue of ₹4 Cr (down 13% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Vardhman Forex Private Limited
Revenue fell 13% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 52%. EBITDA fell 48% 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 Vardhman Forex 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 | ₹43,198 | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹19,465 | •••• | •••• | •••• | •••• |
| 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 Vardhman Forex Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 0.1% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 0% | •••• | •••• | •••• | •••• |
| 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 Vardhman Forex are in the company report.
Financial statements from FY 2017
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 Vardhman Forex Private Limited
Vardhman Forex Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Money Exchange Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Singla Forex Private Limited | ₹4.03 Cr (FY 2021) | •••• | •••• | -9.0% | •••• | Ahmedgarh, Punjab, India |
| Gyan Forex Private Limited | ₹4.03 Cr (FY 2024) | •••• | •••• | 29.0% | •••• | Pune, Maharashtra, India |
| Shah Corporate Consultants Private Limited | ₹4.01 Cr (FY 2025) | •••• | •••• | 107.0% | •••• | Kolkata, West Bengal, India |
| Sri Ven Forex Private Limited | ₹4 Cr (FY 2025) | •••• | •••• | -68.0% | •••• | Hyderabad, Telangana, India |
| Ideal Forex Company Private Limited | ₹4 Cr (FY 2025) | •••• | •••• | -23.0% | •••• | Aluva, Kerala, India |
| Vardhman Forex Private Limited this company | ₹4 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Mumbai, Maharashtra, India |
| Superior Forex Private Limited | ₹3.99 Cr (FY 2024) | •••• | •••• | -66.0% | •••• | Kolkata, West Bengal, India |
| Frontline Forex Private Limited | ₹3.97 Cr (FY 2024) | •••• | •••• | 6.0% | •••• | Delhi, India |
| Wsmi Forex Private Limited | ₹3.96 Cr (FY 2025) | •••• | •••• | -36.0% | •••• | New Delhi, Delhi, India |
| My Forex Services Private Limited | ₹3.92 Cr (FY 2018) | •••• | •••• | 66.0% | •••• | Chennai, Tamil Nadu, India |
| Singla Forex Payment Services Private Limited | ₹3.87 Cr (FY 2025) | •••• | •••• | -40.0% | •••• | Sunam, Punjab, India |
Peers are the five companies nearest above and the five nearest below Vardhman Forex by revenue in the BFSI industry (Money Exchange Services), 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 Vardhman Forex Private Limited
Vardhman Forex Private Limited is audited by Nimesh B. Parekh & Co. for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Nimesh B. Parekh & 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 Vardhman Forex Private Limited
Vardhman Forex has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pawan Roshanlal Kothari | Director | 26 Oct 2018 | 7 Years 11 Months | Current |
| Mayur Pawankumar Kothari | Director | 26 Oct 2018 | 7 Years 11 Months | Current |
Ownership and Shareholding of Vardhman Forex 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 Vardhman Forex Private Limited
Vardhman Forex Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Vardhman Forex Private Limited
Employment history and EPFO contributions of people linked to Vardhman Forex.
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 Vardhman Forex Private Limited
Vardhman Forex Private Limited has 6 board changes on record since 2018: 2 appointments and 4 cessations. The latest: Mayur Pawankumar Kothari ceased to be Additional Director on 30 Sep 2019.
Credit Ratings, Litigation & Regulatory Alerts for Vardhman Forex 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 Vardhman Forex 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 Vardhman Forex 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 Vardhman Forex Private Limited
Vardhman Forex has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCV7389D2ZV | Maharashtra | Active | 05 Jun 2022 |
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 Vardhman Forex 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 Vardhman Forex Private Limited
Vardhman Forex is an active private limited company based in Mumbai, Maharashtra, India. The company works in forex services, within the financial services industry. It was incorporated on 16 January 2017 (9+ years old) and is registered under CIN U67200MH2017PTC289613.
Vardhman Forex reported revenue of ₹4 Cr for FY 2025 (down 13% YoY).
Vardhman Forex has 2 current directors:
- Pawan Roshanlal Kothari - Director
- Mayur Pawankumar Kothari - Director
Vardhman Forex reported a net profit of ₹19,465 (net margin 0%) and EBITDA of ₹43,198 (EBITDA margin 0.1%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Vardhman Forex is 192% over three years and 52% over five years. In the latest year (FY 2025) revenue fell 13%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Vardhman Forex is 27AAFCV7389D2ZV, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Vardhman Forex is U67200MH2017PTC289613. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Vardhman Forex was incorporated on 16 January 2017, making it 9+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Vardhman Forex by revenue are Singla Forex Private Limited, Gyan Forex Private Limited, Shah Corporate Consultants Private Limited, Sri Ven Forex Private Limited, Ideal Forex Company Private Limited and 5 more, all in the BFSI industry (Money Exchange Services).
Mayur Pawankumar Kothari ceased to be Additional Director on 30 Sep 2019. Pawan Roshanlal Kothari ceased to be Additional Director on 30 Sep 2019. Shripal Vimalchand Kothari ceased to be Director on 03 Nov 2018. Vardhman Forex has 6 board changes on record in total.
The registered office of Vardhman Forex is at Shop No.1B Royal Cottage Nehru Road Next To Vakola Masjid Santacruz East, Mumbai, Maharashtra, India – 400055.