About Spica Elastic Private Limited
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Spica Elastic Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 25 September 1979 and has been in existence for over 47 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U17236MH1979PTC021712. Its GSTIN is 27AAACS6153K1Z5 (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹7 Cr and a paid-up capital of ₹4.61 Cr. It was formerly known as Spica Elastic Limited. It is led by directors including Manish Rajnikant Jaitha (Managing Director) and Sohrab Khurshed Bharucha.
Its last annual general meeting (AGM) was held on 30 December 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 477 Chandra Chowk3Rd Lane M J Cloth Market, Mumbai, Maharashtra, India – 400002.
As per the financials filed for FY 2025, the company reported a revenue of ₹141.61 Cr, a growth of 114% compared to the previous year. For the same year it recorded a net profit of ₹15.31 Cr (net margin 10.8%) and EBITDA of ₹11.81 Cr (EBITDA margin 8.3%). Revenue has grown at a compounded annual rate (CAGR) of 150% over three years and 38% over five years.
The company has about 3 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹38.38 Cr and satisfied charges of ₹104.35 Cr on record. Court records list 54 cases involving the company, including 17 filed by the company and 37 filed against it; 12 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website spicaindia.com.
Company details
Contact details
Spica Elastic Private Limited's registered office is in Mumbai, Maharashtra. Its website is spicaindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address477 Chandra Chowk3Rd Lane M J Cloth Market, Mumbai, Maharashtra, India – 400002
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Spica Elastic Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Spica Elastic is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of Spica Elastic Private Limited, buy the company report.
Financials of Spica Elastic Private Limited
FY 2024 filings availableSpica Elastic Private Limited reported revenue of ₹141.61 Cr (up 114% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 38% over five years, including 114% growth in the latest year. EBITDA rose 114% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹11.81 Cr | ||||
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| Net Profit (PAT) | ₹15.31 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA Margin | 8.3% | ||||
| Net Profit Margin | 10.8% | ||||
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To see the full financial statements and ratios of Spica Elastic Private Limited, buy the company report.
Board of directors of Spica Elastic Private Limited
Spica Elastic has 4 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sohrab Khurshed Bharucha | Director | 01 Apr 2019 | 7 Years 6 Months | Current |
| Amish Rajnikant Jaitha | Director | 16 Nov 1997 | 28 Years 11 Months | Current |
| Manisha Manish Jaitha | Director | 01 Apr 2019 | 7 Years 6 Months | Current |
| Manish Rajnikant Jaitha Also directs: Sargam Packaging and Labels LLP, Spica Narrow Fabric LLP, Spica Industries Private Limited and 2 more | Managing Director | 20 Jun 1988 | 38 Years 4 Months | Current |
Auditor
Spica Elastic Private Limited is audited by CNK AND for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| CNK AND | FY 2023 | 101961W |
Shareholding
The shareholding of Spica Elastic Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Spica Elastic Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2025 | 101068064 | Others | ₹1.5 Cr | Open | |
| 30 Nov 2021 | 100516034 | Bank of India | ₹1.57 Cr | Open | |
| 30 Sep 2021 | 100497587 | Others | ₹6.81 Cr | Open | |
| 19 Nov 2010 | 10256910 | The Saraswat Co-Operative Bank Limited | ₹14 Cr | Open | |
| 15 Dec 2005 | 80008478 | The Saraswat Co-Operative Bank Limited | ₹14.5 Cr | Open |
To see the full charge records of Spica Elastic Private Limited, buy the company report.
Total charge records: 60 View all charges
Legal cases
Spica Elastic Private Limited has 54 court cases on record: 17 filed by Spica Elastic, 37 filed against it. 12 cases are pending and 42 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 36 | 27 | 12 |
| High courts | 17 | 10 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 54)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Appeal | Filed by the company against Leo Textiles P.Ltd.With Spica Elastic Ltd. and 1 other | Disposed |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Ms. Hamosons Apparels Pvt.Ltd. | Disposed |
| High Court of Karnataka | Court case (COP) | Filed by the company against Samrat Ashoka Exports Limited | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Complaint ULP) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Complaint ULP) | Filed against the company by an individual | Pending |
To see the full case history of Spica Elastic Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Spica Elastic Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Spica Elastic has 1 subsidiary company and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Spica Industries Private Limited | U17309PN2022PTC213933 |
To see the full group structure of Spica Elastic Private Limited, buy the company report.
Employees & EPFO
Spica Elastic Private Limited has a workforce of 3 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Spica Elastic has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACS6153K1Z5 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Spica Elastic Private Limited, buy the company report.
Recent activity
Spica Elastic Private Limited has 10 board changes on record since 1988: 4 appointments and 6 cessations. The latest: Manisha Manish Jaitha ceased to be Additional Director on 31 Dec 2019.
136 earlier events are in the company report.
Frequently asked questions
Spica Elastic is an active private limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 25 September 1979 (47+ years old) and is registered under CIN U17236MH1979PTC021712.
Spica Elastic has 4 current directors:
- Manish Rajnikant Jaitha - Managing Director
- Sohrab Khurshed Bharucha - Director
- Amish Rajnikant Jaitha - Director
- Manisha Manish Jaitha - Director
The latest financial statements of Spica Elastic on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 December 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Spica Elastic is 27AAACS6153K1Z5, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Spica Elastic is U17236MH1979PTC021712. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Spica Elastic has 54 court cases on record: 17 filed by the company and 37 filed against it. 12 are pending. Most are in the district courts.
Spica Elastic was incorporated on 25 September 1979, making it 47+ years old. It is registered with the Registrar of Companies, Mumbai.
Manisha Manish Jaitha ceased to be Additional Director on 31 Dec 2019. Sohrab Khurshed Bharucha ceased to be Whole-Time Director on 31 Dec 2019. Manisha Manish Jaitha was appointed as Director on 01 Apr 2019. Spica Elastic has 10 board changes on record in total.
Spica Elastic can be reached through the website spicaindia.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Spica Elastic is at 477 Chandra Chowk3Rd Lane M J Cloth Market, Mumbai, Maharashtra, India – 400002.