Max Spare Limited - Due diligence report

A 360° intelligence report on Max Spare: trust score, financial health, credit view, compliance, directors, growth and distress signals - ge…

1967-04-04 Mumbai, Maharashtra Active Unlisted Active Compliant
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MS Max Spare Limited
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Max Spare — 360° Intelligence Report

Generated from MCA filings & public records
83/100
Trust Score
Low Risk

Max Spare is assessed as Low Risk with a Trust Score of 83/100. Max Spare is an active public limited indian non-government company incorporated in 1967, operating in the Machinery and Equipment sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a low compliance risk and low financial risk profile.

Report generated on 16 Jul 2026 from the latest processed filings. Max Spare Limited snapshot & full profile →

Financial Health › Strong
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Strong

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 ScoreLow Risk
83/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreLow Risk
80/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
95/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
85/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
45/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
90/100
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: 85/100 Low Risk
  • Liabilities ≈ 38% EBITDA - serviceable.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Moderate gearing (D/E 1.42).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.

Charges position: 7 open (331.57 cr) · 16 satisfied (111.38 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others3 48.0 cr
Axis Bank Limited3 48.0 cr
Punjab & Sind Bank8 48.0 cr
Citi Bank N.A.1 48.0 cr
Standard Chartered Bank2 48.0 cr
Hdfc Bank Limited1 48.0 cr
Compliance Score: 80/100 Low Risk
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Litigation present in 4 court forum(s).
  • 1 active GST registration(s).
Legal cases on record (4)
05

Director Intelligence

Stability score: 45/100
NameDIN / PANDesignationAppointedTenureDIN status
AKSHAY ASHOKAN VELIYIL 01234567 Director 01/04/2018 6 yrs Approved
RUBINA INDERPAL SABHARWAL 01234567 Director 01/04/2018 6 yrs Approved
TRIPTI MAHESH SHARMA 01234567 Director 01/04/2018 6 yrs Approved
JAGMEET SINGH SABHARWAL 01234567 Director 01/04/2018 6 yrs Approved
SHEETAL JAGMEET SINGH SABHARWAL 01234567 Director 01/04/2018 6 yrs Approved
SONAL SINGH 01234567 Director 01/04/2018 6 yrs Approved
  • 6 directors on the board.
  • RUBINA INDERPAL SABHARWAL has DIN status "Disqualified by RoC u/s 164(2)".
  • 2 director exit(s) in the last 3 years.
  • Average tenure above 5 years.
Director & KMP remuneration (FY 2023)
NameDesignationTotal remuneration
A K SharmaManaging Director2.4 cr
R MehtaWhole-time Director1.6 cr
S IyerCFO95.0 L

Remuneration is disclosed in the latest annual return. Unlock full report

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
0 allotment(s) · 2 transfer(s)

Promoters hold a dominant controlling stake - exact percentages are part of the full report.

Key managerial personnel: JAGMEET SINGH SABHARWAL (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 95 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
Latest year revenue grew 24%.
Profit expanded 0.86 year-on-year.
Asset base grew 61% - capacity expansion.
Net margin improved to 38%.
EPFO headcount growing - hiring signal.
Operating for 59+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
7 open charge(s) registered - assets are encumbered.
4 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence84/100
Favourable indicators
Suitability as a supplier / customer counterparty.
  • Statutory record is clean.
  • No distress signals on file.
  • Financial filings available for verification.
Banker assessment87/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 7 open charge(s) of 331.57 cr already registered.
  • Compliance record supports lending.
Investor view92/100
Positive growth indicators
Growth quality and scalability through an investor lens.
  • 6 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management churn warrants questions.
09

MCA Filings & Events Timeline

Latest 15 events
30 Sep 2025
Last AGM held
Annual general meeting
31 Mar 2025
Latest balance sheet
Filed with ROC
29 Sep 2024
Director ceased
RUBINA INDERPAL SABHARWAL
01 Apr 2024
Director ceased
RAJPAL KAUR USHPAL SINGH SABHARWAL
28 Mar 2024
Charge created
Citi Bank N.A. - 38.00 cr
20 Mar 2024
Director appointed
RUBINA INDERPAL SABHARWAL (Director)
30 Sep 2022
Director ceased
TRIPTI MAHESH SHARMA
03 Aug 2022
Charge created
Axis Bank Limited - 14.37 cr
28 Jul 2022
Director appointed
TRIPTI MAHESH SHARMA (Director)
29 Jun 2022
Charge created
Others - 1.00 cr
30 Sep 2019
Director ceased
AKSHAY ASHOKAN VELIYIL
Director ceased
SONAL SINGH
01 Apr 2019
Director appointed
AKSHAY ASHOKAN VELIYIL (Director)
20 Mar 2019
Director appointed
SONAL SINGH (Director)
26 Jun 2018
Charge created
Others - 2.59 cr
10

Key Observations

Auto-generated from the data above
Revenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
Compliance record is strong - status, filings and flags are clean.
6 active director(s) / partner(s); review board churn before relying on management continuity.
1 active GST registration(s) indicate ongoing business operations.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Tirupati Plastomatics Pvt Ltd U25209RJ1987PTC003961 Jaipur, Rajasthan, India
Sumiriko Auto-Parts India Private Limited U25190RJ2008PTC089216 Neemrana, Rajasthan, India
Saraf Fabtrade Private Limited U74899RJ2005PTC042740 Jaipur, Rajasthan, India
Sparsh Packagings Private Limited U74950UP2007PTC034198 Kanpur, Uttar Pradesh, India
Parikhpackaging U25209GJ1999PTC036763 Ahmedabad, Gujarat, India
Alliance Polysacks Private Limited U25208RJ2009PTC028498 Jaipur, Rajasthan, India
Metro Polyfilms Private Limited U25209DL2010PTC204495 Bawana Industrial Area, Delhi, India
Mega Rubber Technologies Private Limited U25110MH1995PTC084554 Mumbai, Maharashtra, India
12

Who Uses This Report

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

Verify Max Spare before audits and certifications: compliance score 80/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Max Spare: 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: Favourable lending indicators. Credit risk score 85/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Positive growth indicators. Growth score 95/100, margin trends, ownership structure and peer set for Max Spare - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Favourable indicators. Trust score 83/100, distress signals and MSME payment-delay disclosures - know whether Max Spare pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (4 case(s) on record), regulatory flags, charge documents trail and director networks for Max Spare - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Max Spare an active company?

Max Spare has MCA status “Active” with a compliance score of 80/100 (Low Risk).

Is Max Spare financially healthy?

Max Spare has a Financial Health Score of 95/100 (Low Risk) based on its filed financial statements.

Should I do business with Max Spare?

Its overall Trust Score is 83/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Max Spare?

Promoters hold a dominant controlling stake - exact percentages are in the full report. 6 active director(s) are on record.

Does Max Spare have loans or charges against its assets?

7 open charge(s) are registered against its assets, and 16 earlier charge(s) stand satisfied.

Is Max Spare up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 80/100 (Low Risk).

Is it risky to lend to Max Spare?

Its Credit Risk Score is 85/100 (Low Risk). Banker verdict: Favourable lending indicators.

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.