About Spicaworks India Private Limited
Data last updated:
Spicaworks India Private Limited is a private limited company based in Marathalli, Karnataka, India, a subsidiary of Spicaworks. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the software development and support services segment of the technology and IT services sector. It was incorporated on 05 April 2018.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2018PTC111980. Its GSTIN is 29ABACS1823M1Z4 (Karnataka). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹2.5 Cr and a paid-up capital of ₹1.76 Cr. It is led by directors including Bharathi Kanuj and Gaurav Jalan.
Its last annual general meeting (AGM) was held on 28 August 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Marathalli, Karnataka.
As per the financials filed for FY 2023, the company reported a revenue of ₹11.66 Cr, a decline of 79% compared to the previous year. For the same year it recorded a net loss of ₹2.95 Cr (net margin -25.3%) and EBITDA of -₹3.63 Cr (EBITDA margin -31.1%). Revenue has declined at a compounded annual rate (CAGR) of 10% over three years.
The company has about 83 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: SpicaWorks. The company has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹2.91 Cr; the latest was in September 2019. The company has 3 MSME Form 1 returns on record between 2020 and 2021, listing 11 overdue payments to 3 micro and small suppliers.
The last known website on record is spicaworks.com.
Company details
Contact details
Spicaworks India Private Limited's registered office is in Marathalli, Karnataka. Its website is spicaworks.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressInnovent Spaces Floor 4 Ga – O – 06 Survey No. 293/ 154/172 Outer Ring Road Kadubeesanahal, Li, Marathalli, Karnataka, India – 560103
- IndustryInformation Technology, Software Development & Support Services
To see the full contact details of Spicaworks India 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
Brands
Spicaworks India operates one associated brand: SpicaWorks. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers semiconductor designing services. | spicaworks.com |
Business activity
The main business activity of Spicaworks India is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Spicaworks India Private Limited, buy the company report.
Financials of Spicaworks India Private Limited
FY 2023 filings availableSpicaworks India Private Limited reported revenue of ₹11.66 Cr (down 79% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 10% over three years, including a 79% fall in the latest year. EBITDA fell 135% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹3.63 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹2.95 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -31.1% | ||||
| Net Profit Margin | -25.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Spicaworks India Private Limited, buy the company report.
Board of directors of Spicaworks India Private Limited
Spicaworks India has 4 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bharathi Kanuj | Director | 29 Nov 2022 | 3 Years 11 Months | As last reported |
| Gaurav Jalan | Director | 10 May 2018 | 8 Years 5 Months | As last reported |
| Navin Bishnoi | Director | 28 Jun 2022 | 4 Years 4 Months | As last reported |
| Thirupal Gorige Also directs: Thirupal Gorige & Associates LLP | Irp/Rp/Liquidator | 20 Feb 2024 | 2 Years 8 Months | As last reported |
Auditor
Spicaworks India Private Limited is audited by PAWANA R AND ASSOCIATES for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| PAWANA R AND ASSOCIATES | FY 2022 | 014118S |
Shareholding
The shareholding of Spicaworks India Private Limited is on record for 4 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | 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 Spicaworks India Private Limited, buy the company report.
Deals & funding
Spicaworks India Private Limited has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹2.91 Cr; the latest was in September 2019.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: 2 individuals |
| May 2019 | Funding round | ₹2.91 Cr | Investors: an individual |
| Mar 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Spicaworks India Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Spicaworks India Private Limited has 3 MSME Form 1 returns on record between 2020 and 2021, listing 11 overdue payments to 3 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Pozibility Technologies Private Limited | |||
| App-Ex Semi Conductor Private Limited | |||
| Mos Logi Technologies Private Limited |
To see the full MSME payment records of Spicaworks India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Spicaworks India Private Limited has a workforce of 83 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
GST
Spicaworks India has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29ABACS1823M1Z4 | Karnataka | Active | 25 May 2018 |
| 09ABACS1823M1Z6 | Uttar Pradesh | Active | 13 Aug 2019 |
| 36ABACS1823M1Z9 | Telangana | Active | 18 Sep 2019 |
To see the full GST registrations and return filing status of Spicaworks India Private Limited, buy the company report.
Recent activity
Spicaworks India Private Limited has 13 board changes on record since 2018: 4 appointments and 9 cessations. The latest: Thirupal Gorige was appointed as Irp/Rp/Liquidator on 20 Feb 2024.
4 earlier events are in the company report.
Frequently asked questions
Spicaworks India is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Spicaworks India is a company under liquidation, formerly operating as a private limited company based in Marathalli, Karnataka, India. The company works in software development and support services, within the information technology industry. It was incorporated on 05 April 2018 and is registered under CIN U72900KA2018PTC111980. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Spicaworks India has 4 current directors:
- Bharathi Kanuj - Director
- Gaurav Jalan - Director
- Navin Bishnoi - Director
- Thirupal Gorige - Irp/Rp/Liquidator
The latest financial statements of Spicaworks India on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 28 August 2023. Year-wise statements from FY 2019 are in the company report.
The CIN (Corporate Identification Number) of Spicaworks India is U72900KA2018PTC111980. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Spicaworks India was incorporated on 05 April 2018. It is registered with the Registrar of Companies, Bangalore.
Spicaworks India has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹2.91 Cr; the latest was in September 2019.
Thirupal Gorige was appointed as Irp/Rp/Liquidator on 20 Feb 2024. Bharathi Kanuj ceased to be Additional Director on 27 Aug 2023. Mark J Casper ceased to be Director on 16 Dec 2022. Spicaworks India has 13 board changes on record in total.
Spicaworks India has 3 MSME Form 1 returns on record between 2020 and 2021, listing 11 overdue payments to 3 micro and small suppliers. The latest return was filed on 13 May 2021.
Spicaworks India can be reached through the website spicaworks.com. Its registered office is in Marathalli, Karnataka, India.
The registered office of Spicaworks India is at Innovent Spaces Floor 4 Ga – O – 06 Survey No. 293 154172 Outer Ring Road Kadubeesanahal, Li, Marathalli, Karnataka, India – 560103.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
