SPEB Adhesives Ltd.
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ABOUT
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 28.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.5%
- Operating margins have improved to 17.5% from 14.4%
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 1.0
CONS
- Operating cash flow has been negative in recent years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.27x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 20000.05 | 90.88 | 180980.56 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1644.00 | 63.17 | 167339.42 | 1.31 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2581.95 | 35.40 | 76535.41 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4739.45 | 84.66 | 52062.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8635.45 | 56.11 | 44306.87 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1153.25 | 33.04 | 38847.35 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1783.70 | 31.06 | 24328.43 | 0.42 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1684.05 | 95.04 | 22352.03 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| AARTIIND | 524.65 | 35.84 | 19030.46 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| ATUL | 6447.20 | 23.86 | 18981.69 | 0.47 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| DEEPAKFERT | 1426.70 | 18.36 | 18070.99 | 0.70 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| SPEB | 91.55 | 29.95 | 205.66 | 0.00 | — | — | — | — | 36.37 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
No standalone quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 28 | 38 | 43 | 45 | |
| 24 | 36 | 36 | 37 | |
| Operating Profit | 4 | 3 | 7 | 9 |
| OPM % | 14 | 7 | 17 | 19 |
| Other Income | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 |
| 3 | 3 | 7 | 8 | |
| Tax % | 25 | 27 | 26 | 28 |
| Net Profit | 3 | 2 | 5 | 6 |
| EPS | 1 | 1 | 2,937 | 3 |
| Dividend Payout % | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | 3 | 3 |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 31%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 21%
- Last Year:
- 26%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| LIABILITIES | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 18 |
| 17 | 19 | 19 | 8 | |
| Trade Payables | 0 | 0 | 1 | 1 |
| 1 | 0 | 0 | 1 | |
| Total Liabilities | 19 | 20 | 21 | 27 |
| ASSETS | - | - | - | - |
| 2 | 2 | 3 | 2 | |
| 3 | 3 | 0 | 0 | |
| 3 | 3 | 3 | 2 | |
| 0 | 0 | 6 | 7 | |
| Cash & Bank | 3 | 4 | 8 | 15 |
| 8 | 8 | 0 | 1 | |
| Total Assets | 19 | 20 | 21 | 27 |
| Total Debt | 0 | 0 | 0 | 0 |
| Net Working Capital | 12 | 15 | 17 | 23 |
| Contingent Liabilities | 0 | 0 | 0 | 0 |
| Book Value per Share | 9518.82 | 10551.63 | 11579.89 | 14.40 |
| Face Value | 100.00 | 100.00 | 100.00 | 10.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -1 | 0 | 4 | -1 | |
| Cash from Investing | 3 | 0 | 2 | 0 |
| Cash from Financing | -3 | 0 | -5 | 1 |
| -1 | 1 | 1 | -0 | |
| Free Cash Flow | -1 | 0 | 3 | -1 |
| OCF / Net Profit | -0.43 | 0.22 | 0.79 | -0.16 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| PER SHARE | ||||
| EPS (₹) | 1410.68 | 993.11 | 2936.82 | 3.35 |
| Book Value (₹) | 9518.82 | 10551.63 | 11579.89 | 14.40 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.53 | 1.12 | 3.08 | 3.60 |
| PROFITABILITY | ||||
| Operating Margin % | 14.38% | 7.45% | 15.36% | 17.51% |
| Net Margin % | 9.32% | 4.77% | 11.58% | 13.16% |
| ROE % | 14.82% | 9.90% | 25.37% | 26.30% |
| ROCE % | 20.89% | 13.71% | 34.23% | 36.37% |
| 13.91% | 9.49% | 24.33% | 24.58% | |
| EFFICIENCY | ||||
| Debtor Days | 84 | 67 | 59 | 53 |
| Inventory Days | 38 | 29 | 27 | 22 |
| Payable Days | 0 | 0 | 5 | 10 |
| 123 | 96 | 81 | 65 | |
| FINANCIAL HEALTH | ||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 16.71x | 162.60x | 376.36x | 424.57x |
| 11.94x | 34.77x | 14.87x | 13.42x | |
| GROWTH | ||||
| Revenue Growth % | 0.00% | 37.49% | 11.06% | 5.11% |
| Operating Profit Growth % | 0.00% | -28.74% | 149.70% | 20.29% |
| Net Profit Growth % | 0.00% | -29.60% | 169.58% | 19.40% |
| 0.00% | 0.00% | 195.72% | -99.89% | |
| VALUATION | ||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | -1.16x | 0.33x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for SPEB
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SPEB Adhesives Ltd.
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