Promoter holding
64.27%
SL
Spicejet Limited - Due diligence report
A 360° intelligence report on Spicejet: trust score, financial health, credit view, compliance, directors, growth and distress signals - gen…
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Spicejet — 360° Intelligence Report
Generated from MCA filings & public records65/100
Trust Score
Moderate
Spicejet is assessed as Moderate with a Trust Score of 65/100. Spicejet is an active public limited indian non-government company incorporated in 1984, operating in the Transport and Logistics 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 high compliance risk and moderate financial risk profile.
Report generated on 13 Aug 2026 from the latest processed filings. Spicejet 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
65/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
42/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreModerate
50/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
50/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
65/100
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: 50/100 Moderate
- Open charges exceed net worth - secured lenders rank ahead.
- Elevated gearing (D/E 38%).
- Profitable - internal accruals available.
- Externally credit-rated (A3).
Charges position: 17 open (2,930.64 cr) · 11 satisfied (1,993.30 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Yes Bank Limited | 7 | 48.0 cr |
| Export Development Canada | 1 | 48.0 cr |
| Others | 8 | 48.0 cr |
| Indian Bank | 2 | 48.0 cr |
| Allahabad Bank | 2 | 48.0 cr |
| City Union Bank Limited | 1 | 48.0 cr |
Compliance Score: 42/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: NSDL, BSE, OFFICIAL LIQUIDATOR.
- Litigation present in 5 court forum(s).
- Delayed payments to MSME suppliers disclosed (198 disclosure(s)).
- 34 active GST registration(s).
Legal cases on record (5)
05
Director Intelligence
Stability score: 90/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| MANOJ KUMAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| CHANDAN SAND | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SHIWANI SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AJAY SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AJAY CHHOTELAL AGGARWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| CHANDAN SAND | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Sonum Gayatri | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ANURAG BHARGAVA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 8 directors on the board.
- No disqualified or deactivated DINs.
- 1 director exit(s) in the last 3 years.
- Average tenure above 5 years.
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 2025 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
-
Subsidiaries
6
Group entities
6
Capital events
30 allotment(s) · 0 transfer(s)
Promoters hold the largest single block of equity - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Canvin Real Estate Private Limited | Subsidiary Company | 74.00% |
| Spice Club Private Limited | Subsidiary Company | 74.00% |
| Spice Ground Handling Services Private Limited | Subsidiary Company | 74.00% |
| Spice Shuttle Private Limited | Subsidiary Company | 74.00% |
| Spicejet Interactive Private Limited | Subsidiary Company | 74.00% |
| Spicejet Merchandise Private Limited | Subsidiary Company | 74.00% |
| Spicejet Technic Private Limited | Subsidiary Company | 74.00% |
| Spicexpress And Logistics Private Limited | Subsidiary Company | 74.00% |
| Spicetech System Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: AJAY SINGH (Managing Director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 65 · Distress 75
Growth signals & trust indicators
Profit expanded 1.42 year-on-year.
Net margin improved to 2.1x.
Operating for 42+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Compliance score is weak (42/100).
17 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 9.94 Lakh.
5 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence59/100
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 assessment48/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 17 open charge(s) of 2,930.64 cr already registered.
- Compliance gaps should be priced into terms.
Investor view60/100
Mixed indicators
Growth quality and scalability through an investor lens.
- 2 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events30 Sep 2025
Last AGM held
Annual general meeting
11 Sep 2025
Charge satisfied
Export Development Canada
31 Mar 2025
Latest balance sheet
Filed with ROC
14 Sep 2024
Director appointed
Sonum Gayatri (Additional Director)
15 Jul 2024
Director ceased
ASHISH KUMAR
14 May 2024
Charge created
Yes Bank Limited - 5.00 cr
04 Apr 2023
Charge created
Yes Bank Limited - 585.40 cr
15 Dec 2022
Charge created
Axis Bank Limited - 25.00 Lakh
03 Oct 2022
Charge created
Indian Bank - 205.80 cr
03 Sep 2022
Charge created
Indian Bank - 212.66 cr
01 Sep 2022
Charge created
Yes Bank Limited - 150.98 cr
31 Aug 2022
Securities allotted
49050 Equity Shares - 4.91 Lakh raised
Director ceased
SANJEEV TANEJA
15 Feb 2022
Securities allotted
408750 Equity Shares - 40.88 Lakh raised
13 Aug 2021
Securities allotted
35000 Equity Shares - 3.50 Lakh raised
10
Key Observations
Auto-generated from the data aboveRevenue grew 24% over the last 4 financial year(s).
Net profit margin moved from 0.86 to 61%.
Debt-to-equity stands at 38% - leverage worth monitoring.
Net worth is positive.
8 active director(s) / partner(s); board looks stable and experienced.
34 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 6 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of A3 from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold the largest single block of equity as per the FY 2025 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 30 security allotment(s) - amounts available in the full report.
| Company | CIN | Location |
|---|---|---|
| Menzies Aviation (Bengaluru) Private Limited | U63030KA2022FTC165453 | Bengaluru, Karnataka, India |
| Jet Freight Logistics | L63090MH2006PLC161114 | Mumbai, Maharashtra, India |
| Chetak Logistics | U60231DL2001PLC110121 | New Delhi, Delhi, India |
| Global Vectra Helicorp | L62200DL1998PLC093225 | New Delhi, Delhi, India |
| S.A. Group | U63013DL2000PTC104488 | New Delhi., Delhi, India |
| Mspl | U13100MH1961PLC012160 | Mumbai, Maharashtra, India |
| Delhivery | L63090DL2011PLC221234 | New Delhi, Delhi, India |
| Goindigo | L62100DL2004PLC129768 | New Delhi, Delhi, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Spicejet before audits and certifications: compliance score 42/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Spicejet: 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 65/100, margin trends, ownership structure and peer set for Spicejet - 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 Spicejet pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (5 case(s) on record), regulatory flags, charge documents trail and director networks for Spicejet - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Spicejet an active company?
Spicejet has MCA status “Active” with a compliance score of 42/100 (Caution Indicated).
Is Spicejet financially healthy?
Spicejet has a Financial Health Score of 50/100 (Moderate) based on its filed financial statements.
Should I do business with Spicejet?
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 Spicejet?
Promoters hold the largest single block of equity - exact percentages are in the full report. 8 active director(s) are on record.
Does Spicejet have loans or charges against its assets?
17 open charge(s) are registered against its assets, and 11 earlier charge(s) stand satisfied.
Is Spicejet up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 42/100 (Caution Indicated).
Is it risky to lend to Spicejet?
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.
