Promoter holding
64.27%
SM
Spice Money Limited - Due diligence report
A 360° intelligence report on Spice Money: trust score, financial health, credit view, compliance, directors, growth and distress signals - …
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Spice Money — 360° Intelligence Report
Generated from MCA filings & public records57/100
Trust Score
Moderate
Spice Money is assessed as Moderate with a Trust Score of 57/100. Spice Money is an active public limited indian non-government company incorporated in 2000, operating in the Financial Services sector. The company has shown revenue growth 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 Money 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
57/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
20/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
55/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
75/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
70/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
75/100
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 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: 45/100 Caution Indicated
- Liabilities ≈ 38% EBITDA - stretched.
- Externally credit-rated (A4).
Charges position: 8 open (53.44 cr) · 5 satisfied (90.67 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Others | 9 | 48.0 cr |
| Axis Bank Limited | 1 | 48.0 cr |
| Karnataka Bank Ltd. | 1 | 48.0 cr |
| Hdfc Bank Limited | 1 | 48.0 cr |
| The South Indian Bank Limited | 1 | 48.0 cr |
Compliance Score: 20/100 Caution Indicated
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- Flagged by authority: IRDA, CBEC, RBI.
- Litigation present in 3 court forum(s).
- 1 auditor resignation(s) filed - latest: B S R & Co. LLP on 2018-09-26.
- Delayed payments to MSME suppliers disclosed (2 disclosure(s)).
- 17 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 75/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| NARASIMHAN SRIKRISHNA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUNIL KUMAR KAPOOR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VEENA VIKAS MANKAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| PANKAJ VAISH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAM NIRANKAR RASTOGI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUNIL KUMAR KAPOOR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAMESH VENKATARAMAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MRUTYUNJAY MAHAPATRA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Dilip Kumar Modi | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 9 directors on the board.
- No disqualified or deactivated DINs.
- 4 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2023)
| 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 2023 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
Digispice Technologies Limited
Subsidiaries
1
Group entities
1
Capital events
8 allotment(s) · 5 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Kimaan Exports Private Limited | Subsidiary Company | 74.00% |
| Digispice Technologies Limited | Holding Company | 74.00% |
Key managerial personnel: SUNIL KUMAR KAPOOR (Whole-time director) · SUNIL KUMAR KAPOOR (CFO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 70 · Distress 75
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Operating for 26+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Losses deepening year-on-year.
Compliance score is weak (20/100).
8 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
MSME payment delays disclosed - latest outstanding 3.64 Lakh.
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence48/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment42/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 8 open charge(s) of 53.44 cr already registered.
- Compliance gaps should be priced into terms.
Investor view62/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 1 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events20 May 2025
Director appointed
RAM NIRANKAR RASTOGI (Additional Director)
15 Mar 2025
Director appointed
PANKAJ VAISH (Additional Director)
12 Feb 2025
Director appointed
NARASIMHAN SRIKRISHNA (Additional Director)
26 Sep 2024
Last AGM held
Annual general meeting
27 Apr 2024
Director appointed
Dilip Kumar Modi (Ceo)
01 Apr 2024
Director ceased
VENKATRAMU JAYANTHI
31 Mar 2024
Latest balance sheet
Filed with ROC
02 Oct 2023
Director ceased
MEGHA BANSAL
25 Sep 2023
Director ceased
SANJEEV NAND KUMAR
Director ceased
VEENA VIKAS MANKAR
19 Jul 2023
Charge created
Karnataka Bank Ltd. - 1.90 cr
12 Jun 2023
Charge created
Axis Bank Limited - 8.00 cr
17 Mar 2023
Charge created
Others - 9.50 cr
09 Nov 2022
Director appointed
VEENA VIKAS MANKAR (Director)
29 Sep 2022
Director ceased
SUMAN HAZRA GHOSE
10
Key Observations
Auto-generated from the data aboveRevenue grew 2.1x over the last 4 financial year(s).
Net profit margin moved from 24% to 0.86.
Debt-to-equity stands at 61% - leverage worth monitoring.
Net worth is positive.
9 active director(s) / partner(s); board looks stable and experienced.
17 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 1 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of A4 from Crisil.
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.
Capital has been raised through 8 security allotment(s) - amounts available in the full report.
14 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Blackrock | U74140HR2004PTC037490 | Gurgaon, Haryana, India |
| Arm | U72200KA2002PTC031153 | Bangalore, Karnataka, India |
| Temenos | U30006TN1995PTC032883 | Chennai, Tamil Nadu, India |
| At & T | U64203DL1996PTC078375 | New Delhi, Delhi, India |
| Sifycorp | U72900TN2020PLC136420 | Chennai, Tamil Nadu, India |
| Igt Solutions | U72300HR1998PTC136029 | Industrial Complex Dundahera, Haryana, India |
| Bbnl | U64100DL2012GOI232070 | New Delhi, Delhi, India |
| Ciena India Private Limited | U72200DL2005PTC138035 | New Delhi, Delhi, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Spice Money before audits and certifications: compliance score 20/100, 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 Money: 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: Enhanced diligence advised. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 70/100, margin trends, ownership structure and peer set for Spice Money - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 57/100, distress signals and MSME payment-delay disclosures - know whether Spice Money pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Spice Money - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Spice Money an active company?
Spice Money has MCA status “Active” with a compliance score of 20/100 (Caution Indicated).
Is Spice Money financially healthy?
Spice Money has a Financial Health Score of 55/100 (Moderate) based on its filed financial statements.
Should I do business with Spice Money?
Its overall Trust Score is 57/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Spice Money?
The ultimate holding entity is Digispice Technologies Limited. 9 active director(s) are on record.
Does Spice Money have loans or charges against its assets?
8 open charge(s) are registered against its assets, and 5 earlier charge(s) stand satisfied.
Is Spice Money up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 20/100 (Caution Indicated).
Is it risky to lend to Spice Money?
Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.
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.
