Setco Spindles India Private Limited - Company Profile

It is a machinery and equipment private limited company based in Pune, Maharashtra, India, established in 2002.

2002 Pune, Maharashtra, India Active

Last Updated: January 01, 2026

About Setco Spindles India Private Limited

Setco Spindles India Private Limited, a active private limited company, was established on 28 August 2002 in Pune, Maharashtra, India. Engaging in industrial machinery manufacturing within the manufacturing sector, it holds CIN: U29299PN2002PTC017250. Registered under ROC Roc Pune. it is unlisted. It has an authorized capital of ₹1.50 M and a paid-up capital of ₹0.70 M.

Formerly known as Ultra Precision Spindles Private Limited. It upholds a compliant status. Employing 105 professional, Its leadership includes Rajesh Bhaskar Mandlik (Managing Director), Pradeep Devkaran Waghela (Managing Director), Michael Andrew Meade (Director). Past directors included Rajesh Bhaskar Mandlik, Pradeep Devkaran Waghela, Michael Andrew Meade. It holds no open charges and ₹9.85 M settled loans. Its latest AGM occurred on 29 September 2025, with the balance sheet filed on 31 March 2024. It is based at Shed No. 2, Sr. No. 14, Dhadge Industrial Estate Nanded, Pune, Maharashtra, 411041.

Company Details

CIN/LLPIN
U29299PN2002PTC017250
Registration Number
017250
Incorporation Date
28 August 2002
Authorized Capital
₹1.50 M
Paid-Up Capital
₹0.70 M
ROC Code
Roc Pune
Listing Status
Unlisted
Company Status
Active

Key Metrics

Authorised Capital ₹ 1.50 M as on 01-01-2026
Paid Up Capital ₹ 0.70 M as on 01-01-2026
Company Age 23 Year, 6 Months
Last Filing with ROC 31 Mar 2024
Satisfied Charges ₹ 9.85 M as on 01-01-2026
Revenue Growth **** 27.33% (FY 2023)
Profit Growth **** 41.90% (FY 2023)
Ebitda **** 33.34% (FY 2023)
Net Worth 16.66% (FY 2023)
Total Assets **** 21.36% (FY 2023)

Comprehensive Company Insights

Explore comprehensive insights into Setco Spindles India Private Limited — covering financial performance, compliance records, Competitor, shareholding patterns, directors, key metrics, and litigation history. Unlock to see detailed insights and stay informed.

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Who are the key members and board of directors at Setco Spindles India Private Limited?

Current Directors

Name	Designation	Appointment Date	Status
Rajesh Bhaskar Mandlik	Managing Director	28 Aug 2002	Current
Pradeep Devkaran Waghela	Managing Director	28 Aug 2002	Current
Michael Andrew Meade	Director	20 Aug 2019	Current
Scott Christopher Bubenhofer	Director	18 Sep 2021	Current
James Thomas Broz	Director	14 Sep 2017	Current
Brian Patrick Schloemer	Director	11 Oct 2024	Current

Past Directors

Name	Designation	Cessation	Status
Pramod Abcsdd	Director	14 Jun 2012	Past
Pramod Abcsdd	Director	14 Jun 2012	Past
Pramod Abcsdd	Additional Director	20 Sep 2019	Past
Pramod Abcsdd	Additional Director	24 Sep 2021	Past
Pramod Abcsdd	Additional Director	28 Aug 2018	Past
Pramod Abcsdd	Director	14 Sep 2017	Past

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Financial Performance of Setco Spindles India.

Setco Spindles India Private Limited, for the financial year ended 2023, experienced significant growth in revenue, with a 27.33% increase. The company also saw a substantial improvement in profitability, with a 41.9% increase in profit. The company's net worth Soared by an impressive increase of 16.66%.

Date	Amount	Transaction Name	Valuation	Lead Investors	Investors
Jul, 2021	Amount	Post-IPO - Grab	Valuation	investors	Emtek
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners
Jan, 2021	Amount	Post-IPO - Grab	Valuation	investors	Hana Financial Group , GGV Capital
Feb, 2021	Amount	Post-IPO - Grab	Valuation	investors	Signite Partners

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Key Matrics
Balance Sheet
Profit and Loss
Cash Flow
Ratios

Metrics

(FY 2023)

YOY Growth

(FY 2022)

(FY 2021)

(FY 2020)

(FY 2019)

Total Revenue

********

27.33%

*******

Revenue from Operations

*******

26.12%

*******

Total Assets

*******

21.36%

*******

Profit or Loss

*******

41.90%

*******

Net Worth

*******

16.66%

*******

EBITDA

*******

33.34%

*******

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What is the Ownership and Shareholding Structure of Setco Spindles India?

In 2023, Setco Spindles India had a promoter holding of 100.00%. Access key insights, ownership, including shareholding patterns, funding, foreign investors, KMP remuneration, group structure, and overseas investments.

Shareholding Pattern (FY 2024)

Promoters: 92.83%
Public: 4.10%
Others: 3.07%

Shareholding Pattern over the Year

	FY (2024)	FY (2023)	FY (2022)	FY (2021)	FY (2020)
Promoters	92.83	94.62	94.55	94.55	94.55
Public	4.10	3.89	3.95	3.96	3.98
Others	3.07	1.49	1.50	1.49	1.47

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Charges (Loans)

Open Charges

₹0

Satisfied Charges

₹9,854,000.00

Charges Breakdown by Lending Institutions

The Saraswat Co-Operative Bank Ltd. : 0.69 Cr
Saraswat Cooperative Bank Limited : 0.17 Cr
The Saraswat Co-Operative Bank Limited : 0.13 Cr

Latest Charge Details

Date	Lender	Amount	Status
21 Mar 2012	Saraswat Cooperative Bank Limited	₹0.84 M	Satisfied
21 Mar 2012	Saraswat Cooperative Bank Limited	₹0.84 M	Satisfied
13 Nov 2009	The Saraswat Co-Operative Bank Limited	₹1.29 M	Satisfied
15 Nov 2006	The Saraswat Co-Operative Bank Ltd.	₹2.00 M	Satisfied
15 Nov 2006	The Saraswat Co-Operative Bank Ltd.	₹2.00 M	Satisfied

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How Many Employees Work at Setco Spindles India?

Setco Spindles India has a workforce of 105 employees as of Apr 07, 2024. Unlock access to detailed historical data on individuals associated with the company, including employment records, contributions to the Employees' Provident Fund Organization (EPFO), and other related insights.

Employee Date	Number of Employees
2020	78,000
2021	80,500
2022	83,200
2023	86,000
2024	89,500
2025	92,000

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Deals i

Gain comprehensive insights into the Deals and Valuation data of Setco Spindles India, offering detailed information on various transactions, including security allotment data. Explore the intricate details of financial agreements, mergers, acquisitions, divestitures, and strategic partnerships that have shaped Setco Spindles India's trajectory.

Rating

Access the credit rating data, providing valuable insights into the company's creditworthiness and financial stability. Explore assessments from leading credit rating agencies, evaluating factors such as debt obligations, liquidity, profitability, and overall financial health.

Alerts

Stay informed about regulatory alerts and litigation involving and associated companies. Receive timely updates on legal proceedings, regulatory changes, and compliance issues that may impact the company's operations, reputation, and financial performance. Monitor litigation involving subsidiaries, joint ventures, and other affiliated entities to assess potential risks and liabilities.

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Latest Updates, News, and FAQs on Setco Spindles India

Recent Activity within the Organization

Annual General Meeting

The activity Setco Spindles India Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records. was completed.
29 Sep 2025
Director Appointment

Brian Patrick Schloemer was appointed as a Director was appointed as a Director on 11 Oct 2024 & has been associated with this company since 1 year 4 months . was recorded as a recent event.
11 Oct 2024
Director Appointment

Kiran Bhaskar Bhandare was appointed as a Director was appointed as a Director on 11 Oct 2024 & has been associated with this company since 1 year 4 months . was recorded as a recent event.
11 Oct 2024
Balance Sheet

Setco Spindles India Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Pune. was recorded as a recent event.
31 Mar 2024
Director Appointment

The activity Scott Christopher Bubenhofer was appointed as a Director was appointed as a Director on 18 Sep 2021 & has been associated with this company since 4 years 5 months . was completed.
18 Sep 2021
Charges

A charge registered on 21 Mar 2012 via Charge ID 10346969 with Saraswat Cooperative Bank Limited was fully satisfied on 24 Nov 2020. was recorded as a recent event.
24 Nov 2020

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