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Spectrum Electrical Industries Ltd.

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spectrum-india.comBSE: 544386NSE: SPECTRUM
Market Cap₹ 4,733 Cr.
Current Price
High / Low₹ 3,022 / 1,050
Stock P/E94.6
Book Value₹ 162
Price to Book17.18
Dividend Yield0.00 %
ROCE16.4 %
ROE13.9 %
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%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 39.0% CAGR over last 5 years
  • Latest quarter profit grew 118.2% YoY, showing strong momentum
  • Company has delivered good sales growth of 23.0% CAGR over last 5 years
  • Operating margins have improved to 13.2% from 8.9%
  • Working capital cycle has improved - days down from 39 to 15
  • Stock looks reasonably valued - P/E of 94.6 is below its historical median

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 -0.45x)
  • Total debt has risen sharply - up 67.0% year on year
  • Stock is trading at 17.2x its book value

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

Peer comparison

Capital GoodsCapital GoodsElectric Equipment
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.ABB7269.1051.56154038.320.543623.00930.0235588.701110.3130.1812.56
2.CGPOWER910.00114.69143365.960.14308.2815.523280.8113.9927.9412.11
3.SIEMENS3960.9043.07141055.770.45214.31-49.384713.708.4421.429.14
4.POWERINDIA31415.40121.72140025.860.032941.502135.1824936.901586.1828.7314.58
5.GVT&D4545.00623.18116373.150.22362.9924.651836.1438.0475.5125.10
6.ENRIN3178.7576.08113201.810.13440.9067.832485.6039.2840.1923.56
7.WAAREEENER2627.5019.8075580.390.15891.8715.397931.7979.2237.9218.15
8.APARINDS17496.1562.0173260.470.344674.501677.9865910.601191.3131.8411.50
9.HAVELLS1114.8042.8469960.570.90289.71-16.646518.1919.4825.747.15
10.SUZLON44.1619.3160700.730.00305.22-5.893829.0922.8335.7915.55
11.SCHNEIDER1227.70159.7529354.800.0012.44-69.84651.364.7831.015.23
12.SPECTRUM3011.7082.384732.540.0013.05131.89154.5580.9116.0115.69
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
12673827017285116120184156
11363746014773101101153141
Operating Profit1310810251215183215
OPM %10.34%13.10%9.87%14.33%14.33%13.72%12.72%15.25%17.16%9.66%
2021122113
Interest5324453545
Depreciation2232233333
Profit before Tax845519711122618
Tax %28.64%49.43%14.34%36.74%30.98%10.44%29.26%22.69%23.69%24.82%
Net Profit6243136892013
3.801.432.792.148.593.905.055.8612.498.45

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
27120147141151251253322397576
25103129126133226230282345496
Operating Profit01171815192523405280
OPM %23.00%18.61%13.87%12.04%10.42%12.32%9.96%9.12%12.41%13.18%13.84%
00031215657
Interest00553687101316
Depreciation0046668910912
Profit before Tax01810681112273566
Tax %22.82%19.93%27.15%27.82%27.82%27.82%27.82%27.82%27.67%30.92%24.75%
Net Profit01675688192450
EPS0.000.000.009.053.103.915.065.5712.2915.56—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%25.60%19.76%0.00%8.14%0.00%—

COMPOUNDED SALES GROWTH

10 Years:
122%
5 Years:
23%
3 Years:
16%

COMPOUNDED PROFIT GROWTH

10 Years:
106%
5 Years:
39%
3 Years:
47%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:
12%
5 Years:
11%
3 Years:
13%
Last Year:
14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2023

May 26

₹ 0.10

2021

Sep 2

₹ 0.10

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital551115151515151616
01235156626877146171
81038466769727580152
Trade Payables183125132338493842
114681922234150
Total Liabilities1525108143159188216239320430
1641454570807582128
Capital Work in Progress91496201371019
00491014151635
112236395666696375
00000004780116
Cash & Bank12123828123
323145423949187084
Total Assets1525108143159188216239320430

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
-29-7-155142711-14-18
Cash from Investing-5-10-35-12-20-11-21-3-34-40
Cash from Financing824429185-905249
11-0016-664-8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025

Shareholding Pattern

Numbers in percentages

Mar 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
72.5372.5372.5372.5372.5372.7272.7272.7272.72
2.512.692.973.674.114.334.664.943.63
0.310.330.330.340.340.340.340.340.36
Government0.000.000.000.000.000.000.000.000.00
24.6424.4524.1723.4523.0222.6122.2822.0023.29

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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