Promoter holding
64.27%
SL
Spice Labs Private Limited - Due diligence report
A 360° intelligence report on Spice Digital: trust score, financial health, credit view, compliance, directors, growth and distress signals …
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Spice Digital — 360° Intelligence Report
Generated from MCA filings & public records53/100
Trust Score
Moderate
Spice Digital is assessed as Moderate with a Trust Score of 53/100. Spice Digital is a private limited indian non-government company incorporated in 2009, operating in the Information Technology 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 high compliance risk and moderate financial risk profile.
Report generated on 17 Jul 2026 from the latest processed filings. Spice Labs Private Limited snapshot & full profile →
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 & explainableTrust ScoreModerate
53/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
23/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
60/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
50/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreModerate
55/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
55/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 4 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores 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: 50/100 Moderate
- Negative operating earnings - debt service depends on external support.
- No open charges - unencumbered balance sheet.
- Working-capital cover adequate.
Charges position: 0 open (-) · 0 satisfied (-).
Compliance Score: 23/100 Caution Indicated
- Company status is "Amalgamated" - not Active.
- Last balance sheet is for Mar 2018 - filings overdue.
- Litigation present in 1 court forum(s).
Legal cases on record (1)
05
Director Intelligence
Stability score: 55/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| SUNIL KUMAR BHANSALI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MADHUSUDAN VENKATACHARY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUNIL KUMAR KAPOOR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Zainab Ansari | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SEEMA SALWAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAVINDRA KUMAR SARAWAGI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Prashant Hansraj | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ravindra Kumar Sarawagi | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 8 directors on the board.
- MADHUSUDAN VENKATACHARY has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- Stable board - no exits in 3 years.
- Average tenure above 5 years.
Director & KMP remuneration (FY 2017)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2017 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Spice Digital Limited
Subsidiaries
-
Group entities
1
Capital events
3 allotment(s) · 0 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Spice Digital Limited | Holding Company | 74.00% |
| Spice Money Limited | Holding Company | 74.00% |
| Exponentially I Mobility Llp | Associate Company | 74.00% |
| Exponentially I Mobility Llp | Associate Company | 74.00% |
Key managerial personnel: RAVINDRA KUMAR SARAWAGI (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 50 · Distress 55
Growth signals & trust indicators
Latest year revenue grew 38%.
Operating for 17+ years.
Active EPFO - real payroll on record.
Distress signals & risk flags
Statutory filings appear overdue.
Adverse company status: Amalgamated.
Compliance score is weak (23/100).
1 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence42/100
Caution indicated
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 assessment46/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- No existing security registered - first-charge position available.
- Compliance gaps should be priced into terms.
Investor view54/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 1 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events27 Sep 2018
Last AGM held
Annual general meeting
15 May 2018
Director appointed
Zainab Ansari (Company Secretary)
31 Mar 2018
Latest balance sheet
Filed with ROC
04 Aug 2017
Director appointed
RAVINDRA KUMAR SARAWAGI (CFO)
Director appointed
Prashant Hansraj (Manager)
Director appointed
Ravindra Kumar Sarawagi (Cfo)
31 Mar 2017
Director ceased
AKANSHA SHARMA
Director ceased
DEVIDAS SHARMA
22 Dec 2016
Director ceased
SUBRAMANIAN MURALI
31 Dec 2015
Director ceased
POOJA GARG
28 Sep 2015
Director ceased
SUNIL KUMAR BHANSALI
Director ceased
SUNIL KUMAR KAPOOR
Director ceased
SEEMA SALWAN
15 Apr 2015
Director ceased
DILIP KUMAR MODI
14 Apr 2015
Director appointed
SUNIL KUMAR KAPOOR (Director)
10
Key Observations
Auto-generated from the data aboveRevenue declined 1.42 over the last 3 financial year(s).
Net profit margin moved from 2.1x to 24%.
Net worth is positive.
8 active director(s) / partner(s); review board churn before relying on management continuity.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2017 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 3 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| B-Cogent Solutions Private Limited | U72300UP2014PTC066793 | Ghaziabad, Uttar Pradesh, India |
| Dharini Software Consultancy Private Limited | U72200PN2012PTC144911 | Pune, Maharashtra, India |
| Xerxes Outsourcing Services Private Limited | U74900KA2008PTC046785 | Bangalore, Karnataka, India |
| Dmc Healthcare Private Limited | U85110DL2013PTC249308 | New Delhi, Delhi, India |
| Shri Sagas Infracon Private Limited | U45209DL2014PTC267057 | New Delhi, Delhi, India |
| Penetrate Navigation Device Private Limited | U30007GJ2010PTC060442 | Ahmedabad, Gujarat, India |
| Digital Dwarves Private Limited | U72300GA2015PTC007572 | Panjim, Goa, India |
| Draksha Information Technologies Private Limited | U72200MP2015PTC034002 | Indore, Madhya Pradesh, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Spice Digital before audits and certifications: compliance score 23/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Spice Digital: 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 50/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 50/100, margin trends, ownership structure and peer set for Spice Digital - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Caution indicated. Trust score 53/100, distress signals and MSME payment-delay disclosures - know whether Spice Digital 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 Spice Digital - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Spice Digital an active company?
Spice Digital has MCA status “Amalgamated” with a compliance score of 23/100 (Caution Indicated).
Is Spice Digital financially healthy?
Spice Digital has a Financial Health Score of 60/100 (Moderate) based on its filed financial statements.
Should I do business with Spice Digital?
Its overall Trust Score is 53/100 (Moderate). Vendor verdict: Caution indicated. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Spice Digital?
The ultimate holding entity is Spice Digital Limited. 8 active director(s) are on record.
Does Spice Digital have loans or charges against its assets?
No charges are registered against this company - an unencumbered balance sheet.
Is Spice Digital up to date with its ROC filings?
Last balance sheet is for Mar 2018 - filings overdue. Overall compliance score: 23/100 (Caution Indicated).
Is it risky to lend to Spice Digital?
Its Credit Risk Score is 50/100 (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.
