Sprayking Limited - Due diligence report

A 360° intelligence report on Sprayking Agro Equipment: trust score, financial health, credit view, compliance, directors, growth and distre…

2005-02-17 Kalavad, Gujarat Active Listed Active Compliant
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SL Sprayking Limited
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Sprayking Agro Equipment — 360° Intelligence Report

Generated from MCA filings & public records
77/100
Trust Score
Low Risk

Sprayking Agro Equipment is assessed as Low Risk with a Trust Score of 77/100. Sprayking Agro Equipment is an active public limited indian non-government company incorporated in 2005, operating in the Agriculture 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 low financial risk profile.

Report generated on 21 Jul 2026 from the latest processed filings. Sprayking Limited snapshot & full profile →

Financial Health › Strong
Overall Assessment CautionWeakNeutralGoodStrong Strong
Compliance › Weak

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
77/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
41/100
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
80/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
80/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
80/100
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.

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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: 80/100 Low Risk
  • Moderate gearing (D/E 38%).
  • Working-capital cover adequate.
  • Profitable - internal accruals available.

Charges position: 2 open (23.85 cr) · 7 satisfied (7.50 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Hdfc Bank Limited2 48.0 cr
Small Industries Development Bank Of India3 48.0 cr
The Nawanagar Co-Operative Bank Ltd1 48.0 cr
Sidbi1 48.0 cr
The Nawangar Co.Operative Bank Limited1 48.0 cr
The Nawangar Co. Operative Bank Limited1 48.0 cr
Compliance Score: 41/100 Caution Indicated
  • Company status is Active as per MCA.
  • Balance sheet slightly behind (Mar 2024).
  • Flagged by authority: BSE.
  • Litigation present in 1 court forum(s).
  • 1 auditor resignation(s) filed - latest: D.G.M.S & Co. on 2023-01-27.
  • 1 active GST registration(s).
Legal cases on record (1)
05

Director Intelligence

Stability score: 80/100
NameDIN / PANDesignationAppointedTenureDIN status
RONAK HITESH DUDHAGARA 01234567 Director 01/04/2018 6 yrs Approved
JIGNESH RAMNIKBHAI SANGHANI 01234567 Director 01/04/2018 6 yrs Approved
Hetal Prakash Vachhani 01234567 Director 01/04/2018 6 yrs Approved
DHRUVIK MAHESHBHAI BHANDERI 01234567 Director 01/04/2018 6 yrs Approved
HIREN JAMANBHAI PATORIYA 01234567 Director 01/04/2018 6 yrs Approved
PRAGJIBHAI MEGHJIBHAI PATEL 01234567 Director 01/04/2018 6 yrs Approved
VISHAL MULJIBHAI PANSARA 01234567 Director 01/04/2018 6 yrs Approved
HITESH PRAGAJIBHAI DUDHAGARA 01234567 Director 01/04/2018 6 yrs Approved
  • 8 directors on the board.
  • No disqualified or deactivated DINs.
  • 5 director exits in 3 years - high churn.
  • 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 2025 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
3 allotment(s) · 0 transfer(s)

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

Key managerial personnel: HIREN JAMANBHAI PATORIYA (CFO) · PRAGJIBHAI MEGHJIBHAI PATEL (Whole-time director) · HITESH PRAGAJIBHAI DUDHAGARA (Managing Director)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 80 · Distress 90
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
Latest year revenue grew 2.1x.
Operating for 21+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Compliance score is weak (41/100).
2 open charge(s) registered - assets are encumbered.
1 auditor resignation(s) on record - review the stated reasons.
1 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence66/100
Review suggested
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • No distress signals on file.
  • Financial filings available for verification.
Banker assessment75/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 2 open charge(s) of 23.85 cr already registered.
  • Compliance gaps should be priced into terms.
Investor view84/100
Positive growth 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 events
30 Sep 2024
Last AGM held
Annual general meeting
04 Sep 2024
Director ceased
Arvindbhai Maneklal Trivedi
31 Mar 2024
Latest balance sheet
Filed with ROC
20 Sep 2023
Director ceased
JIGNESH RAMNIKBHAI SANGHANI
Director ceased
DHRUVIK MAHESHBHAI BHANDERI
Director ceased
VISHAL MULJIBHAI PANSARA
23 Aug 2023
Director appointed
VISHAL MULJIBHAI PANSARA (Director)
08 Aug 2023
Director appointed
JIGNESH RAMNIKBHAI SANGHANI (Director)
07 Aug 2023
Director ceased
KAUSHIK KANTILAL DUDHAGARA
19 Jul 2023
Director appointed
DHRUVIK MAHESHBHAI BHANDERI (Director)
20 Apr 2023
Director ceased
SANDIP BHASKERRAI PANDYA
22 Nov 2022
Director ceased
DIPESH PRAVINCHANDRA PALA
22 Nov 2021
Director appointed
HIREN JAMANBHAI PATORIYA (CFO)
06 Jun 2021
Director ceased
RAJNIK VALLABHBHAI VASOYA
17 Nov 2020
Charge satisfied
Sidbi
10

Key Observations

Auto-generated from the data above
Revenue grew 24% over the last 4 financial year(s).
Net profit margin moved from 0.86 to 61%.
Debt-to-equity stands at 38% - manageable leverage.
Net worth is positive.
8 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake 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 3 security allotment(s) - amounts available in the full report.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Krupalu Metals Limited L27205GJ2009PLC056265 Jamnagar, Gujarat, India
Tase U35303TN2006PTC058729 Chennai 17, Tamil Nadu, India
Sny Autotech Private Limited U25206TN2003PTC050997 Kancheepuram District, Tamil Nadu, India
Rolcon Engineering Company Limited L29259GJ1961PLC001439 Vallabh Vidyanagar, Gujarat, India
Jb Emporium India Private Limited U52600HR2011PTC044038 Jhajjar, Haryana, India
Noble Cast Comp Private Limited U27310PN2004PTC019345 Pune, Maharashtra, India
Tamilnadu Steel Tubes L27110TN1979PLC007887 Chennai, Tamil Nadu, India
De Nora S.P.A. L31200GA1993PLC001335 Kundaim, Goa, India
12

Who Uses This Report

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

Verify Sprayking Agro Equipment before audits and certifications: compliance score 41/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Sprayking Agro Equipment: 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 80/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Positive growth indicators. Growth score 80/100, margin trends, ownership structure and peer set for Sprayking Agro Equipment - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 77/100, distress signals and MSME payment-delay disclosures - know whether Sprayking Agro Equipment 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 Sprayking Agro Equipment - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Sprayking Agro Equipment an active company?

Sprayking Agro Equipment has MCA status “Active” with a compliance score of 41/100 (Caution Indicated).

Is Sprayking Agro Equipment financially healthy?

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

Should I do business with Sprayking Agro Equipment?

Its overall Trust Score is 77/100 (Low Risk). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Sprayking Agro Equipment?

Promoters hold a minority stake - exact percentages are in the full report. 8 active director(s) are on record.

Does Sprayking Agro Equipment have loans or charges against its assets?

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

Is Sprayking Agro Equipment up to date with its ROC filings?

Balance sheet slightly behind (Mar 2024). Overall compliance score: 41/100 (Caution Indicated).

Is it risky to lend to Sprayking Agro Equipment?

Its Credit Risk Score is 80/100 (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.