MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-MH-26-0096506
Setco Spindles India Private Limited - machinery and equipment in Pune, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2026
₹45.72 Cr
▲ 16% YoY
Net loss · FY 2026
₹84.29 Lakh
Net margin -1.8%
EBITDA · FY 2026
₹2.24 Cr
EBITDA margin 4.9%
Authorised capital
₹15 Lakh
Registered with MCA
Paid-up capital
₹7.01 Lakh
Issued & subscribed
Satisfied charges
₹98.54 Lakh
No open charges
Company age
24 yrs
Est. 2002
Employees · EPFO
116
Provident fund records
About Setco Spindles India Private Limited
Data last updated:
Setco Spindles India Private Limited is a private limited company based in Pune, Maharashtra, India, a subsidiary of Setco Sales Co.Usa. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 28 August 2002 and has been in existence for over 24 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U29299PN2002PTC017250. Its GSTIN is 27AAACU5820F1ZI (Maharashtra). The company holds 4 GST registrations, all of them active.
The company has an authorised share capital of ₹15 Lakh and a paid-up capital of ₹7.01 Lakh. It was formerly known as Ultra Precision Spindles Private Limited. It is led by directors including Rajesh Bhaskar Mandlik (Managing Director) and Pradeep Devkaran Waghela (Managing Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Shed No. 2 Sr. No. 14 Dhadge Industrial Estate Nanded, Pune, Maharashtra, India – 411041.
As per the financials filed for FY 2026, the company reported a revenue of ₹45.72 Cr, a growth of 16% compared to the previous year. For the same year it recorded a net loss of ₹84.29 Lakh (net margin -1.8%) and EBITDA of ₹2.24 Cr (EBITDA margin 4.9%). Revenue has grown at a compounded annual rate (CAGR) of 10% over three years and 20% over five years.
The company has about 116 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Setco. As per MCA filings, the company has satisfied charges of ₹98.54 Lakh on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it.
Setco Spindles India Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-26-0096506). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website setco.com.
Company details
CIN U29299PN2002PTC017250
Registration Number 017250
Incorporation Date 28 August 2002
ROC Pune
Listing Status Unlisted
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2026
Parent Company Setco Sales Co.Usa
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-MH-26-0096506
Key People
Rajesh Bhaskar Mandlik Managing Director Pradeep Devkaran Waghela Managing Director Michael Andrew Meade Director Recognitions & Rankings of Setco Spindles India
Contact details
Setco Spindles India Private Limited's registered office is in Pune, Maharashtra. Its website is setco.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressShed No. 2 Sr. No. 14 Dhadge Industrial Estate Nanded, Pune, Maharashtra, India – 411041
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
To see the full contact details of Setco Spindles India Private Limited, buy the company report.
Comprehensive company report
Setco Spindles India Private Limited - one report that includes everything
- 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
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Business activity
The main business activity of Setco Spindles India is manufacturing. In detail, this covers repair and installation of machinery and equipment and repair & installation of machinery & equipment, motor vehicles. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | 33 | Repair and installation of machinery and equipment | |
| C | Manufacturing | C12 | Repair & installation of machinery & equipment, motor vehicles |
To see the full business activity and turnover split of Setco Spindles India Private Limited, buy the company report.
Financials of Setco Spindles India Private Limited
FY 2026 filings availableSetco Spindles India Private Limited reported revenue of ₹45.72 Cr (up 16% YoY) for FY 2026.
Revenue · FY 2026
₹45.72 Cr ▲ 16%
Net loss · FY 2026
₹84.29 Lakh margin -1.8%
EBITDA · FY 2026
₹2.24 Cr margin 4.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 16%
3 years · compounded
▲ 10%
5 years · compounded
▲ 20%
EBITDA CAGR growth
1 year
▼ 32%
3 years · compounded
▼ 27%
5 years · compounded
▲ 4%
Revenue has grown at a compounded annual rate (CAGR) of 20% over five years, including 16% growth in the latest year. EBITDA fell 32% 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 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹45.72 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹2.24 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹84.29 Lakh | ||||
| 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 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.9% | ||||
| Net Profit Margin | -1.8% | ||||
| 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 Setco Spindles India Private Limited, buy the company report.
Board of directors of Setco Spindles India Private Limited
Setco Spindles India has 7 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajesh Bhaskar Mandlik Also directs: Indian Machine Tool Manufacturers Association | Managing Director | 28 Aug 2002 | 24 Years 2 Months | Current |
| Pradeep Devkaran Waghela | Managing Director | 28 Aug 2002 | 24 Years 2 Months | Current |
| Michael Andrew Meade | Director | 20 Aug 2019 | 7 Years 2 Months | Current |
| Scott Christopher Bubenhofer | Director | 18 Sep 2021 | 5 Years 1 Months | Current |
| James Thomas Broz | Director | 14 Sep 2017 | 9 Years 1 Months | Current |
| Brian Patrick Schloemer | Director | 11 Oct 2024 | 2 Years 1 Months | Current |
Showing 6 of 7 current directors. View all directors
Auditor
Setco Spindles India Private Limited is audited by Suresh Surana & Associates LLP for the financial year 2026.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Suresh Surana & Associates LLP | FY 2026 | 121750W/W-100010 |
Shareholding
The shareholding of Setco Spindles India Private Limited is on record for 5 financial years, the latest being FY 2026, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Setco Spindles India Private Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹98.54 Lakh
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Mar 2012 | 10346969 | Saraswat Cooperative Bank Limited | ₹8.37 Lakh | Satisfied | |
| 21 Mar 2012 | 10348284 | Saraswat Cooperative Bank Limited | ₹8.37 Lakh | Satisfied | |
| 13 Nov 2009 | 10190767 | The Saraswat Co-Operative Bank Limited | ₹12.85 Lakh | Satisfied | |
| 15 Nov 2006 | 10031801 | The Saraswat Co-Operative Bank Ltd. | ₹20 Lakh | Satisfied | |
| 15 Nov 2006 | 10031802 | The Saraswat Co-Operative Bank Ltd. | ₹20 Lakh | Satisfied |
To see the full charge records of Setco Spindles India Private Limited, buy the company report.
Total charge records: 7 View all charges
Legal cases
Setco Spindles India Private Limited has 4 court cases on record: 1 filed by Setco Spindles India, 3 filed against it. All cases are disposed.
Total cases
4
Filed by the company
1
Filed against the company
3
Disposed
4
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 3 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Ace Circuits Pvt.Ltd. | Disposed |
| District court, Sangli, Maharashtra | Court case (MACP M.A.N.R.J.I.) | Filed against the company | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (ECA H) | Filed against the company by an individual | Disposed |
| District court, Sangli, Maharashtra | Court case (M.A.C.P.) | Filed against the company by individuals | Disposed |
To see the full case history of Setco Spindles India 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
Setco Spindles India Private Limited has 8 MSME Form 1 returns on record between 2019 and 2023, listing 715 overdue payments to 49 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 (5 of 49)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Durga Bearings Private Limited | |||
| Precise Engineers | |||
| an individual supplier | |||
| Superslides & Ballscrews.Co.India Pvt Ltd | |||
| an individual supplier |
To see the full MSME payment records of Setco Spindles India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Setco Spindles India Private Limited has a workforce of 116 employees on its EPFO records as of May 2026, across 3 active EPFO establishments.
Employee count
116
Active EPFO establishments
3
Employee growth
-0.9%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 116 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Setco Spindles India Private Limited, buy the company report.
GST
Setco Spindles India has 4 GST registrations: 4 active.
Total GSTINs
4
Active
4
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACU5820F1ZI | Maharashtra | Active | 01 Jul 2017 |
| 33AAACU5820F1ZP | Tamil Nadu | Active | 01 Jul 2017 |
| 06AAACU5820F1ZM | Haryana | Active | 12 Sep 2018 |
| 27AAACU5820F2ZH | Maharashtra | Active | 19 May 2025 |
To see the full GST registrations and return filing status of Setco Spindles India Private Limited, buy the company report.
Recent activity
Setco Spindles India Private Limited has 20 board changes on record since 2002: 7 appointments and 13 cessations. The latest: Brian Patrick Schloemer ceased to be Additional Director on 28 Sep 2025.
Filing
Setco Spindles India Private Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Pune.
AGM
Setco Spindles India Private Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Ceased
Brian Patrick Schloemer ceased to be Additional Director.
Ceased
Kiran Bhaskar Bhandare ceased to be Additional Director.
Appointed
Brian Patrick Schloemer was appointed as Director.
Appointed
Kiran Bhaskar Bhandare was appointed as Director.
Ceased
Jeffrey Johnson Clark ceased to be Director.
Ceased
Scott Christopher Bubenhofer ceased to be Additional Director.
Appointed
Scott Christopher Bubenhofer was appointed as Director.
Charges
A charge registered on 21 Mar 2012 via Charge ID 10346969 with Saraswat Cooperative Bank Limited was fully satisfied on 24 Nov 2020.
Charges
A charge registered on 21 Mar 2012 via Charge ID 10348284 with Saraswat Cooperative Bank Limited was fully satisfied on 24 Nov 2020.
Charges
A charge registered on 13 Nov 2009 via Charge ID 10190767 with The Saraswat Co-Operative Bank Limited was fully satisfied on 24 Nov 2020.
27 earlier events are in the company report.
Frequently asked questions
Setco Spindles India is an active private limited company based in Pune, Maharashtra, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 28 August 2002 (24+ years old) and is registered under CIN U29299PN2002PTC017250.
Setco Spindles India has 7 current directors:
- Rajesh Bhaskar Mandlik - Managing Director
- Pradeep Devkaran Waghela - Managing Director
- Michael Andrew Meade - Director
- Scott Christopher Bubenhofer - Director
- James Thomas Broz - Director
- Brian Patrick Schloemer - Director
- Kiran Bhaskar Bhandare - Director
The latest financial statements of Setco Spindles India on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Setco Spindles India is 27AAACU5820F1ZI, registered in Maharashtra. The company has 4 GST registrations in all, of which 4 are active. Other active GSTINs include 33AAACU5820F1ZP (Tamil Nadu), 06AAACU5820F1ZM (Haryana), 27AAACU5820F2ZH (Maharashtra).
The CIN (Corporate Identification Number) of Setco Spindles India is U29299PN2002PTC017250. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Setco Spindles India has 4 court cases on record: 1 filed by the company and 3 filed against it.
Setco Spindles India was incorporated on 28 August 2002, making it 24+ years old. It is registered with the Registrar of Companies, Pune.
Brian Patrick Schloemer ceased to be Additional Director on 28 Sep 2025. Kiran Bhaskar Bhandare ceased to be Additional Director on 28 Sep 2025. Brian Patrick Schloemer was appointed as Director on 11 Oct 2024. Setco Spindles India has 20 board changes on record in total.
Yes, Setco Spindles India is registered as a small enterprise under Udyam registration (number: UDYAM-MH-26-0096506).
Setco Spindles India has 8 MSME Form 1 returns on record between 2019 and 2023, listing 715 overdue payments to 49 micro and small suppliers. The latest return was filed on 26 Aug 2023.
Setco Spindles India can be reached through the website setco.com. Its registered office is in Pune, Maharashtra, India.
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