Zeal Forex Private Limited
About Zeal Forex Private Limited
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Zeal Forex Private Limited is a private limited company based in Bhavnagar, Gujarat, India. It operates in the forex services segment of the financial services sector. It was incorporated on 31 July 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U67200GJ2012PTC071372. Its GSTIN is 24AAACZ6483B1ZE (Gujarat).
The company has an authorised share capital of ₹25.5 Lakh and a paid-up capital of ₹25.5 Lakh. It is led by directors Zaheerahmed Faiyazhusen Vakil and Naseembanu Zaheerahed Vakil.
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 S – 8/A Trade Center 2nd Floor Kalanala, Bhavnagar, Gujarat, India – 364001.
As per the financials filed for FY 2025, the company reported a revenue of ₹98,809, a decline of 98% compared to the previous year. For the same year it recorded a net loss of ₹11,801 (net margin -11.9%) and EBITDA of -₹7,041 (EBITDA margin -7.1%). Revenue has declined at a compounded annual rate (CAGR) of 66% over three years and 66% over five years.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Contact details
Zeal Forex Private Limited's registered office is in Bhavnagar, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressS – 8/A Trade Center 2nd Floor Kalanala, Bhavnagar, Gujarat, India – 364001
- IndustryFinancial Services, Forex Services
To see the full contact details of Zeal 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 Zeal 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 Zeal Forex Private Limited, buy the company report.
Financials of Zeal Forex Private Limited
FY 2025 filings availableZeal Forex Private Limited reported revenue of ₹98,809 (down 98% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 66% over five years, including a 98% fall in the latest year. EBITDA rose 95% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹7,041 | ||||
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| Net Profit (PAT) | -₹11,801 | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | -7.1% | ||||
| Net Profit Margin | -11.9% | ||||
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To see the full financial statements and ratios of Zeal Forex Private Limited, buy the company report.
Board of directors of Zeal Forex Private Limited
Zeal Forex has 2 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Zaheerahmed Faiyazhusen Vakil | Director | 31 Jul 2012 | 14 Years 3 Months | Current |
| Naseembanu Zaheerahed Vakil | Director | 22 Oct 2012 | 14 Years 0 Months | Current |
Peer comparison
Zeal Forex Private Limited is compared with the 3 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 |
|---|---|---|---|---|---|---|
| JM Forex Private Limited | ₹1.13 Lakh (FY 2021) | Surat, Gujarat, India | ||||
| Zeal Forex Private Limitedthis company | ₹98,809 (FY 2025) | -₹11,801 | -11.9% | -98.0% | Bhavnagar, Gujarat, India | |
| Forex Sense India Private Limited | ₹96,382 (FY 2023) | -3.0% | Mumbai, Maharashtra, India | |||
| Gwalior Forex Pvt Ltd | ₹86,150 (FY 2025) | -98.0% | Anand, Gujarat, India |
To see the full peer comparison of Zeal Forex Private Limited, buy the company report.
Auditor
Zeal Forex Private Limited is audited by M A RAVJANI & CO for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M A RAVJANI & CO | FY 2020 | 134564W |
Shareholding
The shareholding of Zeal Forex Private Limited is on record for 3 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Zeal Forex Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving Zeal Forex Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Zeal Forex Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Zeal Forex has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACZ6483B1ZE | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Zeal Forex Private Limited, buy the company report.
Recent activity
Zeal Forex Private Limited has 4 board changes on record since 2012: 2 appointments and 2 cessations. The latest: Faiyazhusen Akberali Vakil ceased to be Director on 01 Apr 2019.
Frequently asked questions
Zeal Forex is an active private limited company based in Bhavnagar, Gujarat, India. The company works in forex services, within the financial services industry. It was incorporated on 31 July 2012 (14+ years old) and is registered under CIN U67200GJ2012PTC071372.
Zeal Forex has 2 current directors:
- Zaheerahmed Faiyazhusen Vakil - Director
- Naseembanu Zaheerahed Vakil - Director
The latest financial statements of Zeal Forex on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Zeal Forex is 24AAACZ6483B1ZE, registered in Gujarat.
The CIN (Corporate Identification Number) of Zeal Forex is U67200GJ2012PTC071372. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Zeal Forex was incorporated on 31 July 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Zeal Forex by revenue are JM Forex Private Limited, Forex Sense India Private Limited, Gwalior Forex Pvt Ltd, all in the BFSI industry (Money Exchange Services), with the same principal business activity (other financial activities).
Faiyazhusen Akberali Vakil ceased to be Director on 01 Apr 2019. Ounali Shabanali Ravjani ceased to be Director on 01 Apr 2019. Naseembanu Zaheerahed Vakil was appointed as Director on 22 Oct 2012. Zeal Forex has 4 board changes on record in total.
The registered office of Zeal Forex is at S – 8A Trade Center 2nd Floor Kalanala, Bhavnagar, Gujarat, India – 364001.
Zeal Forex operates in the financial services industry, in the forex services segment.
The compliance status of Zeal Forex is compliant as of 09 July 2026. The company is actively filing with the Registrar of Companies.
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