About Spice Islands Industries Limited
Data last updated: 14 July 2026
Spice Islands Industries Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in leather, a part of the broader apparel and fashion sector. Incorporated on 23 December 1988, the company has been in operation for over 38 years.
Registered with ROC Mumbai under CIN L11045MH1988PLC050197. Listed on BSE: 526827.
Capital: an authorised share capital of ₹15 Cr and a paid-up capital of ₹6.23 Cr. Formerly known as Spice Island Apparels Private Limited and Spice Islands Industries Limited. It is led by directors including Shikha Sethia and Shivanand Rama Hemmady.
Last AGM: 24 September 2025. Financial statements filed for year ended 31 March 2024. Office: Mumbai, Maharashtra.
As per BSE-filed standalone financials for FY 2026, the company reported a revenue of ₹17.89 Cr, reflecting significant growth compared to the previous year. The net worth stands at ₹14.02 Cr (up 494.88% YoY). Total assets are valued at ₹17.69 Cr (up 248.31% YoY).
As per MCA filings, the company has satisfied charges of ₹8.04 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website spiceislandsindia.com.
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Registered AddressUnit 3043 – 3048 3Rd Fl Bhandup Industrial Estate Pannalal Silk Mills Compd L.B.S. Marg, Bhandup – W, Mumbai, Maharashtra, India – 400078
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IndustryAppreal & Fashion, Leather, Apparel, Textile
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
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Name History of Spice Islands Industries Limited
Spice Islands Industries Limited has undergone 2 name changes throughout its history. The company was previously known as Spice Island Apparels Private Limited, and Spice Islands Industries Limited. The current legal name is Spice Islands Industries Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Spice Islands Industries Limited | Current |
| Spice Island Apparels Private Limited | Previous |
CIN History of Spice Islands Industries Limited
Spice Islands Industries Limited has 3 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L11040MH1988PLC050197, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L11040MH1988PLC050197 | Current |
| U17121MH1988PLC050197 | Previous |
| L11045MH1988PLC050197 | Previous |
| L17121MH1988PLC050197 | Previous |
Business Activity of Spice Islands Industries Limited
Spice Islands Industries Limited is engaged in the principal business activity of electricity, gas, steam and air condition supply, with detailed activities including electric power generation, transmission and distribution.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | Locked |
Business activity turnover details for Spice Islands Industries Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
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Auditor Details of Spice Islands Industries Limited
Spice Islands Industries Limited is audited by Giriraj Bang & Co. (ICAI peer reviewed, certificate valid till 2026-08-31) for the financial year 2026, as reported in its BSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| Giriraj Bang & Co. (ICAI peer reviewed, certificate valid till 2026-08-31) | FY 2026 | Declaration of unmodified opinion |
Board of Directors and KMP of Spice Islands Industries Limited
Spice Islands Industries Limited currently reports 5 directors and 1 key managerial person. 22 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Faraaz Irfan Chapra
Also directs:
Spice Islands Industries Limited, Alkham Foods Llp, Vision Siddhivi Reality Private Limited and 3 more
|
Cfo | 10 Apr 2024 | 2 Years 3 Months | Current |
|
Shikha Sethia
Also directs:
Spice Islands Industries Limited, Arkance In Private Limited
|
Director | 08 Nov 2023 | 2 Years 8 Months | Current |
|
Shivanand Rama Hemmady
Also directs:
Spice Islands Industries Limited, The Central Province Railways Company Limited, Killick Paints Private Limited and 5 more
|
Director | 08 Nov 2023 | 2 Years 8 Months | Current |
|
Sandeep Jamnadas Merchant
Also directs:
Spice Islands Industries Limited, Fotoset Trading Private Limited
|
Whole-Time Director | 08 Nov 2023 | 2 Years 8 Months | Current |
|
Chirag Chandulal Rajapopat
Also directs:
Spice Islands Industries Limited
|
Director | 10 Apr 2024 | 2 Years 3 Months | Current |
|
Nitu Vishwakarma
Also directs:
Spice Islands Industries Limited
|
Additional Director | 20 May 2026 | 0 Years 2 Months | Current |
Financials of Spice Islands Industries Limited FY 2026 filings available
Spice Islands Industries Limited reported revenue of ₹17.89 Cr (up 2197.55% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹17.89 Cr | ₹77.87 Lakh | ₹89.81 Lakh | ₹85.88 Lakh | ₹2.68 Cr | ₹6.6 Cr | ₹15.64 Cr | ₹17.03 Cr |
| Other Income | ₹3.29 Cr | ₹2.2 Cr | ₹43.17 Lakh | ₹22.08 Lakh | ₹11.11 Lakh | ₹15.21 Lakh | ₹49.77 Lakh | ₹55.96 Lakh |
| Total Income | ₹21.18 Cr | ₹2.98 Cr | ₹1.33 Cr | ₹1.08 Cr | ₹2.79 Cr | ₹6.76 Cr | ₹16.13 Cr | ₹17.59 Cr |
| Cost of Materials Consumed | ₹89.95 Lakh | ₹0 | ₹0 | ₹48.96 Lakh | ₹1.61 Cr | ₹3.9 Cr | ₹8.65 Cr | ₹9.29 Cr |
| Purchases of Stock-in-Trade | ₹7.58 Cr | ₹59.57 Lakh | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹2.14 Lakh | -₹12.86 Lakh | ₹0 | ₹0 | ₹2.8 Lakh | ₹6.43 Lakh | ₹4.17 Lakh | -₹4.11 Lakh |
| Employee Benefit Expense | ₹1.55 Cr | ₹17.11 Lakh | ₹4.26 Lakh | ₹3.8 Lakh | ₹19.61 Lakh | ₹68.75 Lakh | ₹2.58 Cr | ₹4.14 Cr |
| Finance Costs | ₹5.45 Lakh | ₹5.5 Lakh | ₹6.37 Lakh | ₹6 Lakh | ₹7.95 Lakh | ₹7.74 Lakh | ₹18.06 Lakh | ₹35.9 Lakh |
| Depreciation & Amortisation | ₹8.04 Lakh | ₹6.2 Lakh | ₹3.97 Lakh | ₹4.28 Lakh | ₹14.5 Lakh | ₹29.9 Lakh | ₹39.19 Lakh | ₹47.51 Lakh |
| Other Expenses | ₹5.41 Cr | ₹1.1 Cr | ₹86.51 Lakh | ₹55.18 Lakh | ₹2.03 Cr | ₹3.75 Cr | ₹7.17 Cr | ₹7.95 Cr |
| Total Expenses | ₹15.54 Cr | ₹1.86 Cr | ₹1.01 Cr | ₹1.18 Cr | ₹4.09 Cr | ₹8.79 Cr | ₹19.01 Cr | ₹22.18 Cr |
| Profit Before Exceptional Items & Tax | ₹5.64 Cr | ₹1.12 Cr | ₹31.87 Lakh | -₹10.26 Lakh | -₹1.3 Cr | -₹2.03 Cr | -₹2.88 Cr | -₹4.58 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | -₹14.67 Lakh | -₹8.77 Lakh | ₹0 |
| Profit Before Tax | ₹5.64 Cr | ₹1.12 Cr | ₹31.87 Lakh | -₹10.26 Lakh | -₹1.3 Cr | -₹2.18 Cr | -₹2.96 Cr | -₹4.58 Cr |
| Total Tax Expense | -₹2.03 Lakh | ₹64.46 Lakh | ₹0 | ₹1.98 Lakh | ₹1.36 Lakh | ₹0 | -₹2.89 Lakh | -₹67.3 Lakh |
| Net Profit | ₹5.66 Cr | ₹47.73 Lakh | ₹31.87 Lakh | -₹12.24 Lakh | -₹1.32 Cr | -₹2.18 Cr | -₹2.94 Cr | -₹3.91 Cr |
| Other Comprehensive Income | ₹38,000 | ₹38,000 | ₹72,000 | ₹1.81 Lakh | ₹2.49 Lakh | -₹49,000 | -₹20,000 | -₹2 Lakh |
| Total Comprehensive Income | ₹5.67 Cr | ₹48.11 Lakh | ₹32.59 Lakh | -₹10.43 Lakh | -₹1.29 Cr | -₹2.18 Cr | -₹2.94 Cr | -₹3.93 Cr |
| EBITDA (computed) | ₹5.78 Cr | ₹1.24 Cr | ₹42.21 Lakh | ₹2,000 | -₹1.08 Cr | -₹1.66 Cr | -₹2.3 Cr | -₹3.75 Cr |
| Basic EPS | ₹11.45 | ₹1.11 | ₹0.76 | ₹-0.24 | ₹-3.06 | ₹-5.07 | ₹-6.83 | ₹-9.14 |
| Diluted EPS | ₹11.45 | ₹1.11 | ₹0.76 | ₹-0.24 | ₹-3.06 | ₹-5.07 | ₹-6.83 | ₹-9.14 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹17.69 Cr | ₹5.08 Cr | ₹1.29 Cr | ₹1.95 Cr | ₹3.53 Cr | ₹5.04 Cr | ₹8.38 Cr | ₹11.91 Cr |
| Non-current Assets | ₹7.24 Cr | ₹3.07 Cr | ₹98.65 Lakh | ₹1.56 Cr | ₹2 Cr | ₹2.19 Cr | ₹3.25 Cr | ₹3.59 Cr |
| Current Assets | ₹10.45 Cr | ₹1.89 Cr | ₹29.87 Lakh | ₹38.54 Lakh | ₹1.53 Cr | ₹2.76 Cr | ₹5.13 Cr | ₹8.32 Cr |
| Property, Plant & Equipment | ₹1.31 Cr | ₹75.53 Lakh | ₹21.21 Lakh | ₹60.28 Lakh | ₹84.27 Lakh | ₹1.25 Cr | ₹2.08 Cr | ₹2.23 Cr |
| Inventories | ₹18.92 Lakh | ₹12.86 Lakh | ₹0 | ₹0 | ₹1.75 Lakh | ₹10.68 Lakh | ₹73.12 Lakh | ₹1.05 Cr |
| Trade Receivables | ₹2.86 Cr | ₹1.18 Cr | ₹0 | ₹5.53 Lakh | ₹77.46 Lakh | ₹67.88 Lakh | ₹1.12 Cr | ₹2.25 Cr |
| Cash & Equivalents | ₹2.8 Cr | ₹27.81 Lakh | ₹11.5 Lakh | ₹1.06 Lakh | ₹8.86 Lakh | ₹37.61 Lakh | ₹91.76 Lakh | ₹75.79 Lakh |
| Equity (Net Worth) | ₹14.02 Cr | ₹2.36 Cr | -₹29.91 Lakh | -₹62.49 Lakh | -₹52.07 Lakh | ₹77.1 Lakh | ₹2.95 Cr | ₹5.89 Cr |
| Equity Share Capital | ₹6.23 Cr | ₹4.3 Cr | ₹4.3 Cr | ₹4.3 Cr | ₹4.3 Cr | ₹4.3 Cr | ₹4.3 Cr | ₹4.3 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹62.5 Lakh | ₹62.5 Lakh | ₹13.78 Lakh | ₹31 Lakh | ₹2.04 Lakh | ₹13.97 Lakh |
| Borrowings (Current) | ₹59.25 Lakh | ₹1.28 Cr | ₹0 | ₹0 | ₹62.64 Lakh | ₹1.68 Cr | ₹1.78 Cr | ₹3.06 Cr |
| Total Debt (computed) | ₹59.25 Lakh | ₹1.28 Cr | ₹62.5 Lakh | ₹62.5 Lakh | ₹76.42 Lakh | ₹1.99 Cr | ₹1.8 Cr | ₹3.2 Cr |
| Current Liabilities | ₹3.66 Cr | ₹2.71 Cr | ₹80.79 Lakh | ₹1.91 Cr | ₹3.87 Cr | ₹3.9 Cr | ₹5.19 Cr | ₹5.87 Cr |
| Total Liabilities | ₹3.66 Cr | ₹2.72 Cr | ₹1.58 Cr | ₹2.57 Cr | ₹4.05 Cr | ₹4.26 Cr | ₹5.43 Cr | ₹6.01 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹2.94 Cr | ₹30.15 Lakh | -₹1.22 Cr | -₹7.33 Lakh | ₹77.86 Lakh |
| Investing Cash Flow | -₹5.69 Cr | -₹2.91 Cr | ₹36.93 Lakh | ₹15.11 Lakh | ₹15.39 Lakh |
| Financing Cash Flow | ₹5.28 Cr | ₹2.77 Cr | ₹95.52 Lakh | -₹30.25 Lakh | -₹1.21 Cr |
| Capital Expenditure | ₹4.22 Cr | ₹0 | ₹0 | ₹23,000 | ₹12.47 Lakh |
| Free Cash Flow (computed) | -₹1.28 Cr | ₹30.15 Lakh | -₹1.22 Cr | -₹7.56 Lakh | ₹65.39 Lakh |
| Dividends Paid | ₹52.67 Lakh | ₹0 | ₹0 | ₹0 | ₹60,300 |
| Net Change in Cash | ₹2.52 Cr | ₹16.31 Lakh | ₹10.45 Lakh | -₹22.47 Lakh | -₹28.14 Lakh |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹10.91 Cr | ₹3.32 Cr | ₹1.74 Cr | ₹1.93 Cr | ₹33.95 Lakh | ₹33.46 Lakh | ₹10.03 Lakh | ₹0 |
| Other Income | ₹2 Cr | ₹47.85 Lakh | ₹72.43 Lakh | ₹8.63 Lakh | ₹1.81 Cr | ₹8.51 Lakh | ₹6.48 Lakh | ₹24.37 Lakh |
| Total Income | ₹12.91 Cr | ₹3.8 Cr | ₹2.46 Cr | ₹2.01 Cr | ₹2.15 Cr | ₹41.97 Lakh | ₹16.51 Lakh | ₹24.37 Lakh |
| Cost of Materials Consumed | ₹33.71 Lakh | ₹26.35 Lakh | ₹19.23 Lakh | ₹9.13 Lakh | ₹0 | ₹3,000 | ₹5.57 Lakh | ₹0 |
| Purchases of Stock-in-Trade | ₹7.17 Cr | ₹19.32 Lakh | ₹4.3 Lakh | ₹17.42 Lakh | ₹27.72 Lakh | ₹31.27 Lakh | ₹0 | ₹0 |
| Changes in Inventories | -₹1.04 Lakh | -₹5 Lakh | ₹2.06 Lakh | ₹1.84 Lakh | -₹7.91 Lakh | -₹4.95 Lakh | ₹0 | ₹0 |
| Employee Benefit Expense | ₹40.16 Lakh | ₹42.17 Lakh | ₹37.88 Lakh | ₹30.69 Lakh | ₹6.87 Lakh | ₹4.45 Lakh | ₹3.61 Lakh | ₹2.18 Lakh |
| Finance Costs | ₹2.94 Lakh | ₹98,000 | ₹79,000 | ₹74,000 | ₹1.25 Lakh | ₹1.04 Lakh | ₹1.64 Lakh | ₹1.57 Lakh |
| Depreciation & Amortisation | ₹2.14 Lakh | ₹2.04 Lakh | ₹1.94 Lakh | ₹1.92 Lakh | ₹1.88 Lakh | ₹1.94 Lakh | ₹57,000 | ₹2.95 Lakh |
| Other Expenses | ₹1.89 Cr | ₹1.48 Cr | ₹1.02 Cr | ₹1.06 Cr | ₹28.62 Lakh | ₹29.04 Lakh | ₹35.37 Lakh | ₹11.54 Lakh |
| Total Expenses | ₹9.84 Cr | ₹2.34 Cr | ₹1.68 Cr | ₹1.68 Cr | ₹58.43 Lakh | ₹62.82 Lakh | ₹46.76 Lakh | ₹18.24 Lakh |
| Profit Before Exceptional Items & Tax | ₹3.08 Cr | ₹1.46 Cr | ₹77.97 Lakh | ₹33.12 Lakh | ₹1.57 Cr | -₹20.85 Lakh | -₹30.25 Lakh | ₹6.13 Lakh |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹3.08 Cr | ₹1.46 Cr | ₹77.97 Lakh | ₹33.12 Lakh | ₹1.57 Cr | -₹20.85 Lakh | -₹30.25 Lakh | ₹6.13 Lakh |
| Total Tax Expense | -₹1.43 Lakh | -₹27,000 | -₹17,000 | -₹16,000 | ₹23,000 | ₹57,000 | ₹63.66 Lakh | ₹0 |
| Net Profit | ₹3.09 Cr | ₹1.46 Cr | ₹78.14 Lakh | ₹33.28 Lakh | ₹1.56 Cr | -₹21.42 Lakh | -₹93.91 Lakh | ₹6.13 Lakh |
| Other Comprehensive Income | ₹82,000 | -₹14,000 | -₹15,000 | -₹15,000 | ₹38,000 | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹3.1 Cr | ₹1.46 Cr | ₹77.99 Lakh | ₹33.13 Lakh | ₹1.57 Cr | -₹21.42 Lakh | -₹93.91 Lakh | ₹6.13 Lakh |
| EBITDA (computed) | ₹3.13 Cr | ₹1.49 Cr | ₹80.7 Lakh | ₹35.78 Lakh | ₹1.6 Cr | -₹17.87 Lakh | -₹28.04 Lakh | ₹10.65 Lakh |
| Basic EPS | ₹6.25 | ₹2.95 | ₹1.82 | ₹0.77 | ₹3.64 | ₹-0.50 | ₹2.17 | ₹0.14 |
| Diluted EPS | ₹6.25 | ₹2.95 | ₹1.82 | ₹0.77 | ₹3.64 | ₹-0.50 | ₹2.17 | ₹0.14 |
| Segment · Q4 FY26 (latest quarter) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| a). Renting/Hire of electric Vehicle | ₹45.93 Lakh | ₹19.74 Lakh | ₹1.09 Cr | ₹18.03 Lakh |
| b} Food and beverages | ₹7.48 Cr | -₹38.91 Lakh | ₹2.99 Cr | ₹1.84 Cr |
| c) Hospitality business | ₹2.97 Cr | ₹1.51 Cr | ₹4.36 Cr | ₹89.68 Lakh |
| Segment · FY 2026 (annual) | Revenue | Result (PBIT) | Assets | Liabilities |
|---|---|---|---|---|
| a). Renting/Hire of electric Vehicle | ₹1.24 Cr | ₹50.93 Lakh | - | - |
| b} Food and beverages | ₹8.54 Cr | -₹1.14 Cr | - | - |
| c) Hospitality business | ₹8.11 Cr | ₹3.62 Cr | - | - |
Charges & Borrowings of Spice Islands Industries Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 31 Jul 2020 | Others | ₹31 Lakh | Satisfied |
| 16 Aug 2016 | Others | ₹25 Lakh | Satisfied |
| 10 Sep 2015 | Kotak Mahindra Prime Limited | ₹35 Lakh | Satisfied |
| 26 Jun 2015 | Kotak Mahindra Prime Limited | ₹11.2 Lakh | Satisfied |
| 28 May 2015 | Kotak Mahindra Prime Limited | ₹19.43 Lakh | Satisfied |
Total charge records: 10 View all charges
Employees and EPFO Compliance at Spice Islands Industries Limited
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Employee and EPFO history for Spice Islands Industries Limited
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GST Compliance of Spice Islands Industries Limited
GST registrations and filing compliance for Spice Islands Industries Limited
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Credit Ratings, Litigation & Regulatory Alerts for Spice Islands Industries Limited
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MSME Payment Delays by Spice Islands Industries Limited
MSME payment history for Spice Islands Industries Limited
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Subsidiaries & Group Companies of Spice Islands Industries Limited
Corporate group structure for Spice Islands Industries Limited
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MCA Filings & Documents of Spice Islands Industries Limited
MCA filings and documents for Spice Islands Industries Limited
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Recent Activity on Spice Islands Industries Limited
Frequently Asked Questions about Spice Islands Industries Limited
Spice Islands Industries Limited is an active public limited company in the appreal and fashion sector based in Mumbai, Maharashtra, India. It was incorporated on 23 December 1988 (38+ years old) and is registered under CIN L11040MH1988PLC050197. Listed on BSE: 526827.
Spice Islands Industries Limited reported revenue of ₹17.89 Cr for FY 2026 (up 2197.55% YoY) based on standalone BSE filings.
The current directors and KMP of Spice Islands Industries Limited are:
- Faraaz Irfan Chapra - Cfo
- Shikha Sethia - Director
- Shivanand Rama Hemmady - Director
- Sandeep Jamnadas Merchant - Whole-Time Director
- Chirag Chandulal Rajapopat - Director
- Nitu Vishwakarma - Additional Director
The primary industry of Spice Islands Industries Limited is apparel and fashion. The company specifically operates in leather. The company is currently active in this sector.
Yes. Spice Islands Industries Limited is listed on BSE with code 526827.
Spice Islands Industries Limited can be reached at the registered office: Unit 3043 – 3048 3Rd Fl Bhandup Industrial Estate Pannalal Silk Mills Compd L.B.S. Marg, Bhandup – W, Mumbai, Maharashtra, India – 400078, or through the website spiceislandsindia.com.