Forward Financial Services Limited - Due diligence report

A 360° intelligence report on Forward Financial Services Limited: trust score, financial health, credit view, compliance, directors, growth …

1986-04-03 Mumbai, Maharashtra Active Unlisted Active Compliant
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Forward Financial Services Limited — 360° Intelligence Report

Generated from MCA filings & public records
65/100
Trust Score
Moderate

Forward Financial Services Limited is assessed as Moderate with a Trust Score of 65/100. Forward Financial Services Limited is an active public limited indian non-government company incorporated in 1986, operating in the Financial Services sector. Reported revenue has declined across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and moderate financial risk profile.

Report generated on 17 Jul 2026 from the latest processed filings. Forward Financial Services Limited snapshot & full profile →

Financial Health › Neutral
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Neutral

Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.

02

Score Card

Higher is safer · rule-based & explainable
Trust ScoreModerate
65/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
51/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
55/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
95/100
Board strength, DIN status, churn and network.
Growth ScoreCaution Indicated
40/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
60/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 5 filed year(s)

Unlock the full 5-year financial dashboard with charts and year-wise figures.

Get full access

Scores and observations on this page are already computed from the real filings - only the underlying figures are locked.

04

Credit & Compliance Intelligence

Why the scores are what they are
Credit Risk Score: 55/100 Moderate
  • Negative operating earnings - debt service depends on external support.
  • Moderate gearing (D/E 38%).
  • Working-capital cover adequate.

Charges position: 2 open (1.00 cr) · 0 satisfied (-).

Banking relationships (from registered charges)
LenderChargesAmount
Others1 48.0 cr
The Saraswat Co-Operative Bank Ltd.;1 48.0 cr
Compliance Score: 51/100 Moderate
  • Company status is Active as per MCA.
  • Balance sheet slightly behind (Mar 2024).
  • Flagged by authority: FIU, DSE.
  • Litigation present in 1 court forum(s).
Legal cases on record (1)
05

Director Intelligence

Stability score: 95/100
NameDIN / PANDesignationAppointedTenureDIN status
DEEPAK WAGLE 01234567 Director 01/04/2018 6 yrs Approved
JYOTI DEEPAK WAGLE 01234567 Director 01/04/2018 6 yrs Approved
KAVITA ARIJIT CHAKRAVORTY 01234567 Director 01/04/2018 6 yrs Approved
  • 3 directors on the board.
  • No disqualified or deactivated DINs.
  • Stable board - no exits in 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2023 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
-

Promoters hold the largest single block of equity - exact percentages are part of the full report.

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 40 · Distress 60
Growth signals & trust indicators
Operating for 40+ years.
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
Compliance score is weak (51/100).
2 open charge(s) registered - assets are encumbered.
1 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence58/100
Review suggested
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment52/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 1.00 cr already registered.
  • Compliance gaps should be priced into terms.
Investor view50/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • No clear growth signals in the filed years.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 8 events
28 Oct 2024
Charge created
Others - 1.00 cr
27 Sep 2024
Last AGM held
Annual general meeting
31 Mar 2024
Latest balance sheet
Filed with ROC
29 Jan 1997
Director appointed
KAVITA ARIJIT CHAKRAVORTY (Director)
15 Jan 1990
Charge created
The Saraswat Co-Operative Bank Ltd.; - 24,000.00
03 Apr 1986
Incorporated
Registered with Roc Mumbai I
Director appointed
DEEPAK WAGLE (Director)
Director appointed
JYOTI DEEPAK WAGLE (Director)
10

Key Observations

Auto-generated from the data above
Revenue declined 1.42 over the last 4 financial year(s).
Debt-to-equity stands at 2.1x - manageable leverage.
Net worth is positive.
3 active director(s) / partner(s); board looks stable and experienced.
Promoters hold the largest single block of equity as per the FY 2023 annual return.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Tradeswift Developers Private Limited U45201RJ2007PTC025055 Jaipur, Rajasthan, India
Som Datt Enterprises Private Limited U45209WB1990PTC049117 Kolkata, West Bengal, India
Adhunik Datamatics Private Limited U70101GJ2005PTC169412 Ahmadabad City, Gujarat, India
K P Sanghvi Capital Services Private Limited U65990MH1994PTC081392 Mumbai, Maharashtra, India
Mantri Finvest Private Limited U65990MH1993PTC075656 Nagpur, Maharashtra, India
Perfect Finmen Services Pvt Ltd U74899DL1995PTC067340 New Delhi, Delhi, India
Pushkar Vintrade Private Limited U51909WB2009PTC133439 Kolkata, West Bengal, India
Marshall Mercantiles Pvt Ltd U51909WB1993PTC057654 Kolkata, West Bengal, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Forward Financial Services Limited before audits and certifications: compliance score 51/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Forward Financial Services Limited: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.

Bankers & NBFCs

Current banker verdict: Mixed indicators - deeper appraisal suggested. Credit risk score 55/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 40/100, margin trends, ownership structure and peer set for Forward Financial Services Limited - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 65/100, distress signals and MSME payment-delay disclosures - know whether Forward Financial Services Limited pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (1 case(s) on record), regulatory flags, charge documents trail and director networks for Forward Financial Services Limited - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Forward Financial Services Limited an active company?

Forward Financial Services Limited has MCA status “Active” with a compliance score of 51/100 (Moderate).

Is Forward Financial Services Limited financially healthy?

Forward Financial Services Limited has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.

Should I do business with Forward Financial Services Limited?

Its overall Trust Score is 65/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Forward Financial Services Limited?

Promoters hold the largest single block of equity - exact percentages are in the full report. 3 active director(s) are on record.

Does Forward Financial Services Limited have loans or charges against its assets?

2 open charge(s) are registered against its assets.

Is Forward Financial Services Limited up to date with its ROC filings?

Balance sheet slightly behind (Mar 2024). Overall compliance score: 51/100 (Moderate).

Is it risky to lend to Forward Financial Services Limited?

Its Credit Risk Score is 55/100 (Moderate). Banker verdict: Mixed indicators - deeper appraisal suggested.

Disclaimer: This report is generated automatically from MCA filings and public records as available in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice. Verify from official sources and consult a qualified professional before any business, lending or investment decision. If you represent this company and believe any information is inaccurate or outdated, report it here and we will review promptly.