Spectrum Electrical Industries Ltd.

•

spectrum-india.comBSE: 544386NSE: SPECTRUM

Market Cap₹ 4,733 Cr.

Current Price

High / Low₹ 3,022 / 1,050

Stock P/E82.4

Book Value₹ 164

Price to Book17.08

Dividend Yield0.00 %

ROCE16.0 %

ROE14.5 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 40.3% CAGR over last 5 years
Latest quarter profit grew 131.9% YoY, showing strong momentum
Company has delivered good sales growth of 23.3% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Operating margins have improved to 13.2% from 8.9%

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.38x)
Total debt has risen sharply - up 92.4% year on year
Stock is trading at 17.1x its book value
Free cash flow has been persistently negative

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ABB	7269.10	51.56	154038.32	0.54	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	CGPOWER	910.00	114.69	143365.96	0.14	308.28	15.52	3280.81	13.99	27.94	12.11
3.	SIEMENS	3960.90	43.07	141055.77	0.45	214.31	-49.38	4713.70	8.44	21.42	9.14
4.	POWERINDIA	31415.40	121.72	140025.86	0.03	2941.50	2135.18	24936.90	1586.18	28.73	14.58
5.	GVT&D	4545.00	623.18	116373.15	0.22	362.99	24.65	1836.14	38.04	75.51	25.10
6.	ENRIN	3178.75	76.08	113201.81	0.13	440.90	67.83	2485.60	39.28	40.19	23.56
7.	WAAREEENER	2627.50	19.80	75580.39	0.15	891.87	15.39	7931.79	79.22	37.92	18.15
8.	APARINDS	17496.15	62.01	73260.47	0.34	4674.50	1677.98	65910.60	1191.31	31.84	11.50
9.	HAVELLS	1114.80	42.84	69960.57	0.90	289.71	-16.64	6518.19	19.48	25.74	7.15
10.	SUZLON	44.16	19.31	60700.73	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1227.70	159.75	29354.80	0.00	12.44	-69.84	651.36	4.78	31.01	5.23
12.	SPECTRUM	3011.70	82.38	4732.54	0.00	13.05	131.89	154.55	80.91	16.01	15.69

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	124	75	87	71	169	85	118	125	283	155
	111	66	79	61	143	74	102	106	237	139
Operating Profit	13	10	8	10	25	12	15	19	46	16
OPM %	10.54%	13.01%	9.40%	14.55%	15.11%	13.72%	12.94%	15.14%	16.09%	10.13%
	3	0	4	0	1	2	2	1	2	2
Interest	5	3	2	4	4	5	3	5	7	5
Depreciation	2	2	3	2	2	3	3	3	6	3
Profit before Tax	9	4	7	4	20	6	12	12	34	18
Tax %	28.77%	53.90%	35.20%	38.34%	31.48%	11.20%	34.09%	17.33%	21.95%	25.99%
Net Profit	0	0	0	0	14	6	8	10	26	13
	4.20	1.38	4.59	1.73	8.70	3.65	4.93	6.44	16.93	8.31

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	147	141	151	251	253	328	402	681
	129	126	133	226	230	288	349	585
Operating Profit	18	15	19	25	23	40	53	95
OPM %	12.04%	10.42%	12.32%	9.96%	9.16%	12.26%	13.25%	14.02%
	3	1	2	1	5	7	5	7
Interest	5	3	6	8	7	10	13	20
Depreciation	6	6	6	8	9	10	9	16
Profit before Tax	10	6	8	11	12	27	36	76
Tax %	27.82%	27.82%	27.82%	27.82%	27.87%	27.70%	29.12%	24.04%
Net Profit	7	5	6	8	8	19	25	58
EPS	9.05	3.10	3.91	5.06	5.59	12.48	16.41	—
Dividend Payout %	0.00%	0.00%	25.60%	19.75%	0.00%	8.01%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 23%
3 Years:: 17%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 40%
3 Years:: 50%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 121%
3 Years:: 46%
1 Year:: 120%

RETURN ON EQUITY

10 Years:: —
5 Years:: 11%
3 Years:: 13%
Last Year:: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	15	15	15	15	15	16	16
	51	56	62	68	77	147	172
	46	67	69	74	89	81	175
Trade Payables	25	13	23	38	49	38	38
	6	8	19	22	26	42	51
Total Liabilities	143	159	189	218	255	322	451
	45	45	70	80	79	87	138
Capital Work in Progress	6	20	5	9	15	23	38
	9	10	11	12	13	0	1
	36	39	56	66	70	65	76
	0	0	0	0	42	82	124
Cash & Bank	2	3	9	2	9	12	5
	45	42	39	48	29	55	68
Total Assets	143	159	189	218	255	322	451

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-15	5	17	24	5	4	-26
Cash from Investing	-12	-20	-15	-23	-9	-38	-53
Cash from Financing	29	18	5	-5	14	37	72
	0	1	6	-6	6	3	-7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.53	72.53	72.53	72.53	72.53	72.72	72.72	72.72	72.72
	2.51	2.69	2.97	3.67	4.11	4.33	4.66	4.94	3.63
	0.31	0.33	0.33	0.34	0.34	0.34	0.34	0.34	0.36
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.64	24.45	24.17	23.45	23.02	22.61	22.28	22.00	23.29

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Allotment of Securities

2026-09-11 - Spectrum Electrical Industries Limited has informed the Exchange regarding allotment of 1623375 securities pursuant to Preferential Issue passed through circular resolution on September 11, 2026

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Spectrum Electrical Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-08

Shareholders meeting

2026-09-08 - Spectrum Electrical Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-04

Outcome of Board Meeting

2026-09-04 - Spectrum Electrical Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on September 04, 2026.

2026-08-31

General Updates

2026-08-31 - Spectrum Electrical Industries Limited Receipt of In-Principle Approval from the Stock Exchanges for Preferential Issue.

2026-08-21

Shareholders meeting

2026-08-21 - Spectrum Electrical Industries Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-20

Shareholders meeting

2026-08-20 - Spectrum Electrical Industries Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on August 20, 2026

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Spectrum Electrical Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

General Updates

2026-08-13 - Spectrum Electrical Industries Limited has informed the Exchange about General Updates regarding reappointment of Internal Auditor and Cost Auditor of the Company.

News

Recent coverage and analyst commentary for SPECTRUM

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Spectrum Electrical Industries Ltd.

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Free 5nance Account

Name

ABB

7269.10

51.56

154038.32

0.54

3623.00

930.02

35588.70

1110.31

30.18

12.56

CGPOWER

910.00

114.69

143365.96

0.14

308.28

15.52

3280.81

13.99

27.94

12.11

SIEMENS

3960.90

43.07

141055.77

0.45

214.31

-49.38

4713.70

8.44

21.42

9.14

POWERINDIA

31415.40

121.72

140025.86

0.03

2941.50

2135.18

24936.90

1586.18

28.73

14.58

GVT&D

4545.00

623.18

116373.15

0.22

362.99

24.65

1836.14

38.04

75.51

25.10

ENRIN

3178.75

76.08

113201.81

0.13

440.90

67.83

2485.60

39.28

40.19

23.56

WAAREEENER

2627.50

19.80

75580.39

0.15

891.87

15.39

7931.79

79.22

37.92

18.15

APARINDS

17496.15

62.01

73260.47

0.34

4674.50

1677.98

65910.60

1191.31

31.84

11.50

HAVELLS

1114.80

42.84

69960.57

0.90

289.71

-16.64

6518.19

19.48

25.74

7.15

SUZLON

44.16

19.31

60700.73

0.00

305.22

-5.89

3829.09

22.83

35.79

15.55

SCHNEIDER

1227.70

159.75

29354.80

0.00

12.44

-69.84

651.36

4.78

31.01

5.23

SPECTRUM

3011.70

82.38

4732.54

0.00

13.05

131.89

154.55

80.91

16.01

15.69

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

124

169

118

125

283

155

111

143

102

106

237

139

Operating Profit

OPM %

10.54%

13.01%

9.40%

14.55%

15.11%

13.72%

12.94%

15.14%

16.09%

10.13%

Interest

Depreciation

Profit before Tax

Tax %

28.77%

53.90%

35.20%

38.34%

31.48%

11.20%

34.09%

17.33%

21.95%

25.99%

Net Profit

4.20

1.38

4.59

1.73

8.70

3.65

4.93

6.44

16.93

8.31

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

147

141

151

251

253

328

402

681

129

126

133

226

230

288

349

585

Operating Profit

OPM %

12.04%

10.42%

12.32%

9.96%

9.16%

12.26%

13.25%

14.02%

Interest

Depreciation

Profit before Tax

Tax %

27.82%

27.87%

27.70%

29.12%

24.04%

Net Profit

EPS

9.05

3.10

3.91

5.06

5.59

12.48

16.41

—

Dividend Payout %

0.00%

25.60%

19.75%

0.00%

8.01%

0.00%

—

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

147

172

175

Trade Payables

Total Liabilities

143

159

189

218

255

322

451

138

Capital Work in Progress

124

Cash & Bank

Total Assets

143

159

189

218

255

322

451

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-15

-26

Cash from Investing

-12

-20

-15

-23

-9

-38

-53

Cash from Financing

-5

-6

-7

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

72.53

72.72

2.51

2.69

2.97

3.67

4.11

4.33

4.66

4.94

3.63

0.31

0.33

0.34

0.36

Government

0.00

24.64

24.45

24.17

23.45

23.02

22.61

22.28

22.00

23.29

Spectrum Electrical Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Spectrum Electrical Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI