Spacenet Enterprises India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Trading of Goods: 65.6% • Service Income: 34.4%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company is almost debt free
- Latest quarter profit grew 258.4% YoY, showing strong momentum
- Company has delivered good sales growth of 155.1% CAGR over last 5 years
- Operating margins have improved to 8.7% from 2.4%
- Company has consistently been profitable over the last 5 years
CONS
- Company has a low return on capital employed of 10.1%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.52x)
- Operating cash flow has been negative in recent years
- Free cash flow has been persistently negative
- Effective tax rate is unusually low at 7.8% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 2936.00 | 53.39 | 397452.96 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| PREMIERENE | 998.00 | 27.21 | 45304.36 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| AEGISLOG | 1270.55 | 35.64 | 44596.31 | 0.68 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3705.90 | 91.86 | 43840.96 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| REDINGTON | 371.40 | 17.07 | 29035.10 | 1.62 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.75 | 61.67 | 15347.59 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 8.99 | 14.58 |
| LLOYDSENT | 74.20 | 100.87 | 11327.02 | 0.20 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 826.10 | 83.74 | 10411.77 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 64.18 | 21.52 | 9627.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1827.20 | 63.41 | 7952.54 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| CELLO | 342.50 | 24.69 | 7724.69 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
| SPCENET | 3.41 | 7.73 | 193.60 | 0.29 | 13.76 | 258.39 | 48.88 | -8.45 | 10.34 | -1.79 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22 | 29 | 30 | 48 | 34 | 45 | 39 | 39 | 53 | 48 | 48 | 45 | 49 | |
| 20 | 26 | 26 | 46 | 31 | 41 | 37 | 34 | 49 | 45 | 45 | 39 | 52 | |
| Operating Profit | 2 | 3 | 4 | 2 | 3 | 4 | 2 | 5 | 4 | 4 | 3 | 6 | -3 |
| OPM % | 11.24% | 9.66% | 12.94% | 3.67% | 9.44% | 9.05% | 4.30% | 11.83% | 8.32% | 7.25% | 6.17% | 13.59% | -7.13% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 3 | 1 | 0 | 20 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit before Tax | 2 | 3 | 4 | 2 | 3 | 4 | 1 | 5 | 4 | 6 | 3 | 5 | 16 |
| Tax % | 0.00% | 0.00% | 0.00% | 7.14% | 15.46% | 9.84% | 8.70% | 1.22% | 1.79% | 12.41% | 4.01% | 3.45% | 15.91% |
| Net Profit | 0 | 0 | 0 | 0 | 3 | 3 | 1 | 5 | 4 | 5 | 3 | 4 | 14 |
| 0.05 | 0.05 | 0.07 | 0.03 | 0.05 | 0.06 | 0.02 | 0.09 | 0.07 | 0.08 | 0.05 | 0.09 | 0.23 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 27 | 37 | 61 | 11 | 1 | 1 | 43 | 145 | 128 | 157 | 190 | |
| 35 | 42 | 66 | 21 | 5 | 1 | 43 | 142 | 117 | 143 | 181 | |
| Operating Profit | -8 | -5 | -5 | -10 | -3 | -0 | 0 | 3 | 11 | 14 | 9 |
| OPM % | -31.20% | -14.24% | -8.42% | -92.97% | -234.99% | -85.29% | 0.88% | 1.85% | 8.53% | 8.72% | 4.79% |
| 1 | 1 | 0 | 0 | 0 | 6 | 1 | 0 | 0 | 1 | 25 | |
| Interest | 2 | 2 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 5 |
| Profit before Tax | -11 | -6 | -7 | -10 | -3 | 5 | 1 | 3 | 11 | 13 | 30 |
| Tax % | -0.00% | -0.83% | -0.00% | -0.00% | -0.76% | 0.00% | 15.31% | -4.28% | 1.22% | 7.79% | 12.03% |
| Net Profit | -11 | -6 | -7 | -10 | -4 | 5 | 1 | 3 | 11 | 12 | 26 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.05 | 0.19 | 0.21 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 155%
- 3 Years:
- 54%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 154%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- -48%
- 1 Year:
- -51%
RETURN ON EQUITY
- 10 Years:
- -9%
- 5 Years:
- 9%
- 3 Years:
- 12%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 49 | 49 | 49 | 49 | 5 | 5 | 53 | 53 | 55 | 56 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 5 | 4 |
| -41 | -47 | -54 | -65 | -24 | -14 | -19 | -16 | 24 | 74 | |
| 10 | 10 | 11 | 12 | 13 | 7 | 4 | 0 | 1 | 1 | |
| Trade Payables | 10 | 12 | 41 | 33 | 7 | 0 | 10 | 17 | 13 | 23 |
| 5 | 5 | 4 | 4 | 4 | 3 | 3 | 25 | 29 | 34 | |
| Total Liabilities | 32 | 29 | 51 | 33 | 4 | 0 | 53 | 81 | 126 | 193 |
| 1 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 13 | 25 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 30 |
| 0 | 0 | 0 | 0 | 0 | 0 | 6 | 19 | 41 | 57 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41 | 52 | |
| Cash & Bank | 1 | 0 | 0 | 0 | 0 | 0 | 6 | 2 | 6 | 2 |
| 31 | 28 | 51 | 33 | 4 | 0 | 35 | 55 | 15 | 27 | |
| Total Assets | 32 | 29 | 51 | 33 | 4 | 0 | 53 | 81 | 126 | 193 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1 | 2 | 0 | -0 | -0 | 6 | -6 | -3 | -1 | 17 | |
| Cash from Investing | 1 | -0 | 0 | 0 | 0 | 0 | -15 | -10 | -40 | -50 |
| Cash from Financing | -0 | -1 | -0 | 0 | 0 | -6 | 23 | 11 | 46 | 29 |
| -1 | -0 | -0 | 0 | -0 | -0 | 2 | -2 | 4 | -4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -2.16 | -1.29 | -1.40 | -2.13 | -0.71 | 1.01 | 0.01 | 0.05 | 0.19 | 0.21 |
| Book Value (₹) | 1.56 | 0.33 | -1.05 | -3.25 | -3.89 | -1.89 | 0.65 | 0.71 | 1.44 | 2.31 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | -2.01 | -1.22 | -1.38 | -2.11 | -0.70 | 1.01 | 0.02 | 0.05 | 0.20 | 0.24 |
| PROFITABILITY | ||||||||||
| Operating Margin % | -28.25% | -11.58% | -7.84% | -88.79% | -216.07% | 1030.95% | 2.37% | 2.14% | 8.53% | 8.72% |
| Net Margin % | -39.44% | -17.00% | -11.30% | -96.04% | -240.70% | 981.80% | 1.64% | 1.82% | 8.33% | 7.75% |
| ROE % | 0.00% | -135.49% | 0.00% | 0.00% | 0.00% | 0.00% | 5.65% | 7.29% | 18.32% | 11.61% |
| ROCE % | -40.79% | -32.06% | -56.02% | -825.37% | 0.00% | 0.00% | 4.82% | 6.29% | 13.77% | 10.34% |
| -22.62% | -20.59% | -17.13% | -24.64% | -18.53% | 203.25% | 2.66% | 3.91% | 10.29% | 7.61% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 348 | 140 | 157 | 1159 | 4109 | 0 | 193 | 76 | 111 | 107 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 46 | 37 | 48 | 49 |
| 348 | 140 | 157 | 1159 | 4109 | 0 | 147 | 39 | 64 | 59 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 1.26x | 5.93x | -2.19x | -0.76x | -0.67x | -0.74x | 0.11x | 0.01x | 0.01x | 0.01x |
| Interest Coverage (x) | -3.63x | -2.78x | -2.46x | -14.52x | -12.85x | 22.72x | 33.69x | 8.31x | 81.53x | 80.07x |
| 1.09x | 0.89x | 0.86x | 0.64x | 0.16x | 0.13x | 2.65x | 2.11x | 3.90x | 2.17x | |
| GROWTH | ||||||||||
| Revenue Growth % | -74.85% | 38.38% | 64.33% | -82.13% | -86.64% | -65.44% | 8485.05% | 235.05% | -11.30% | 22.50% |
| Operating Profit Growth % | 81.71% | 43.26% | -11.23% | -102.38% | 67.49% | 264.88% | -80.30% | 203.57% | 264.40% | 30.33% |
| Net Profit Growth % | 77.73% | 40.37% | -9.25% | -51.88% | 66.52% | 240.95% | -85.69% | 271.66% | 307.16% | 13.90% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 277.07% | 10.82% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 136.28x | 29.96x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 18.02x | 2.73x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 125.57x | 24.16x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Spacenet Enterprises India Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - Spacenet Enterprises India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-09-02 - Spacenet Enterprises India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-15 - Spacenet Enterprises India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Spacenet Enterprises India Limited has informed the Exchange regarding Appointment of Mr. Srikanth Tatipaka as Non- Executive Director of the company w.e.f. August 14, 2026.
2026-08-14 - Spacenet Enterprises India Limited has informed the Exchange regarding Appointment of Mr. Dasigi Venkata Surya Prakash Rao as Chairman of the company w.e.f. August 14, 2026.
2026-08-14 - Spacenet Enterprises India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-12 - Spacenet Enterprises India Limited has informed the Exchange about General Updates
2026-07-14 - Spacenet Enterprises India Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
News
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