SPL Industries Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Trading: 62.3% • Manufacturing: 37.7%
AI Sector View
AI GENERATEDTextiles
This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.
PROS
- Company is almost debt free
- Promoters have been increasing their shareholding - up 5.9pp over 2 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.24x)
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- A large part of profit comes from other income (315.5% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 5.4% over last 3 years
- Company has a low return on capital employed of 7.7%
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PAGEIND | 36184.20 | 53.40 | 40359.40 | 1.52 | 1928.06 | 860.21 | 14204.45 | 978.91 | 73.60 | 20.35 |
| KPRMILL | 1170.30 | 43.85 | 40002.49 | 0.43 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| WELSPUNLIV | 200.05 | 68.08 | 18899.77 | 0.05 | 162.61 | 82.09 | 2795.45 | 23.66 | 6.41 | 11.53 |
| VTL | 587.40 | 20.06 | 17009.74 | 0.85 | 314.56 | 51.46 | 2703.08 | 13.31 | 8.91 | 18.11 |
| ARVIND | 572.70 | 37.62 | 15579.77 | 0.79 | 57.77 | 5.61 | 2500.96 | 24.65 | 15.30 | 9.64 |
| MANYAVAR | 542.70 | 32.73 | 13186.43 | 1.43 | 66.90 | 37.31 | 267.95 | 22.74 | 33.92 | 45.53 |
| PGIL | 2358.75 | 35.11 | 10895.19 | 0.61 | 99.23 | 51.37 | 1528.26 | 24.46 | 22.42 | 10.72 |
| SWANCORP | 284.90 | 39.94 | 8930.39 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| ICIL | 447.65 | 58.76 | 8865.90 | 0.34 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| GARFIBRES | 814.50 | 37.86 | 7953.46 | 1.10 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| KUSUMGAR | 570.25 | 60.97 | 5987.13 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| SPLIL | 31.21 | 10.94 | 90.51 | 0.00 | 2.13 | 134.18 | 19.40 | 16.58 | 4.17 | -2.77 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 58 | 42 | 31 | 69 | 42 | 39 | 27 | 31 | 17 | 15 | 15 | 23 | 19 | |
| 54 | 40 | 31 | 65 | 41 | 38 | 27 | 30 | 18 | 17 | 19 | 23 | 21 | |
| Operating Profit | 4 | 2 | 1 | 4 | 2 | 2 | -1 | 1 | -2 | -2 | -4 | -0 | -1 |
| OPM % | 6.86% | 3.92% | 2.08% | 5.41% | 4.54% | 4.81% | -2.13% | 1.99% | -9.86% | -15.76% | -28.19% | -0.21% | -2.77% |
| Other Income | 2 | 3 | 3 | 4 | 3 | 4 | 3 | 4 | 4 | 3 | 7 | 6 | 4 |
| Interest | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 5 | 3 | 2 | 6 | 4 | 4 | 1 | 4 | 1 | -0 | 0 | 4 | 3 | |
| Tax % | 28.08% | 26.90% | 21.85% | 28.21% | 31.38% | 1.24% | 79.17% | 21.18% | 26.61% | -150.00% | -387.76% | 11.01% | 15.34% |
| Net Profit | 3 | 2 | 2 | 4 | 3 | 4 | 0 | 3 | 1 | -0 | 2 | 4 | 2 |
| 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 0 | -0 | 1 | 1 | 0 | |
| Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 151 | 173 | 157 | 179 | 110 | 198 | 285 | 199 | 139 | 70 | 72 | |
| 148 | 166 | 128 | 152 | 94 | 176 | 261 | 189 | 136 | 78 | 80 | |
| Operating Profit | 7 | 11 | 32 | 35 | 21 | 32 | 37 | 22 | 18 | 11 | — |
| OPM % | 5 | 6 | 20 | 19 | 19 | 16 | 13 | 11 | 13 | 16 | — |
| Other Income | 5 | 4 | 3 | 8 | 6 | 10 | 14 | 12 | 14 | 19 | 20 |
| Interest | 3 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 3 | 4 | 4 | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 3 |
| 1 | 5 | 27 | 30 | 18 | 29 | 32 | 16 | 13 | 6 | 7 | |
| Tax % | 0 | 0 | 0 | -3 | 24 | 26 | 26 | 27 | 24 | -16 | -12 |
| Net Profit | 1 | 5 | 27 | 31 | 14 | 21 | 24 | 12 | 10 | 7 | 8 |
| EPS | 0 | 2 | 9 | 11 | 5 | 7 | 8 | 4 | 3 | 2 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 2 | 9 | 11 | 5 | 7 | 8 | 4 | 3 | 2 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -7%
- 5 Years:
- -9%
- 3 Years:
- -37%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -2%
- 5 Years:
- -12%
- 3 Years:
- -33%
STOCK PRICE CAGR
- 10 Years:
- 1%
- 5 Years:
- -10%
- 3 Years:
- -22%
- 1 Year:
- -21%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 10%
- 3 Years:
- 5%
- Last Year:
- 4%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| 36 | 41 | 69 | 100 | 113 | 134 | 158 | 170 | 180 | 187 | |
| 12 | 1 | 2 | 4 | 4 | 5 | 11 | 0 | 0 | 0 | |
| Trade Payables | 37 | 24 | 20 | 8 | 2 | 38 | 5 | 4 | 3 | 13 |
| 10 | 5 | 3 | 1 | 1 | 2 | 4 | 5 | 10 | 6 | |
| Total Liabilities | 123 | 100 | 122 | 141 | 150 | 209 | 208 | 208 | 222 | 235 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 52 | 55 | 52 | 33 | 31 | 35 | 38 | 42 | 40 | 43 | |
| Capital Work in Progress | 2 | 1 | 1 | 0 | 0 | 3 | 11 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 10 | 46 | 58 | 106 | 88 | |
| 20 | 2 | 3 | 2 | 2 | 3 | 3 | 1 | 1 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35 | 23 | 16 | |
| Cash & Bank | 5 | 3 | 16 | 46 | 83 | 61 | 36 | 27 | 17 | 10 |
| 44 | 39 | 50 | 60 | 35 | 97 | 74 | 45 | 35 | 76 | |
| Total Assets | 123 | 100 | 122 | 141 | 150 | 209 | 208 | 208 | 222 | 235 |
| Total Debt | 15 | 2 | 2 | 4 | 4 | 5 | 11 | 0 | 0 | 0 |
| Net Working Capital | 10 | 12 | 40 | 72 | 90 | 89 | 56 | 62 | 94 | 83 |
| Contingent Liabilities | 5 | 5 | 5 | 5 | 2 | 2 | 2 | 2 | 2 | 2 |
| Book Value per Share | 13.35 | 24.30 | 24.71 | 35.55 | 40.26 | 47.55 | 55.87 | 59.95 | 63.37 | 65.86 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19 | 16 | 16 | 28 | 30 | 8 | 14 | 7 | 14 | 14 | |
| Cash from Investing | -14 | -0 | -14 | -28 | -29 | -4 | -26 | 4 | -14 | -14 |
| Cash from Financing | -6 | -14 | -1 | 0 | -0 | -0 | 5 | -11 | -0 | -0 |
| -1 | 1 | 1 | 0 | 1 | 4 | -7 | 0 | -0 | 0 | |
| Free Cash Flow | 9 | 12 | 16 | 28 | 30 | -0 | 2 | 7 | 13 | 9 |
| OCF / Net Profit | 13.23 | 2.94 | 0.58 | 0.90 | 2.20 | 0.38 | 0.59 | 0.61 | 1.42 | 2.04 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 95 | 86 | 75 | 66 | 52 | 31 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.50 | 1.86 | 9.37 | 10.78 | 4.67 | 7.27 | 8.22 | 4.05 | 3.38 | 2.43 |
| Book Value (₹) | 13.35 | 24.30 | 24.71 | 35.55 | 40.26 | 47.55 | 55.87 | 59.95 | 63.37 | 65.86 |
| 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 (₹) | 1.53 | 3.20 | 10.69 | 11.87 | 5.63 | 8.10 | 9.18 | 5.13 | 4.42 | 3.56 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 4.76% | 6.38% | 20.38% | 19.42% | 19.45% | 16.08% | 12.99% | 4.99% | 2.79% | -11.75% |
| Net Margin % | 0.96% | 3.12% | 17.33% | 17.49% | 12.31% | 10.66% | 8.37% | 5.90% | 7.02% | 10.15% |
| ROE % | 3.84% | 9.87% | 38.23% | 35.80% | 12.33% | 16.56% | 15.90% | 7.00% | 5.48% | 3.77% |
| ROCE % | 7.67% | 11.25% | 38.24% | 34.87% | 16.33% | 22.27% | 21.67% | 10.68% | 8.18% | 4.17% |
| 1.30% | 4.82% | 24.44% | 23.72% | 9.29% | 11.75% | 11.46% | 5.65% | 4.55% | 3.09% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 78 | 67 | 80 | 72 | 72 | 56 | 50 | 60 | 76 | 103 |
| Inventory Days | 36 | 23 | 6 | 6 | 7 | 4 | 4 | 4 | 3 | 6 |
| Payable Days | 123 | 107 | 89 | 44 | 29 | 56 | 38 | 12 | 13 | 66 |
| -9 | -17 | -2 | 34 | 49 | 4 | 17 | 52 | 67 | 43 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.39x | 0.03x | 0.03x | 0.04x | 0.04x | 0.04x | 0.07x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 1.53x | 4.11x | 29.75x | 23.98x | 26.63x | 39.14x | 16.11x | 7.64x | 8.74x | 4.55x |
| 1.18x | 1.44x | 2.65x | 6.51x | 11.44x | 2.94x | 3.67x | 8.58x | 10.15x | 5.74x | |
| GROWTH | ||||||||||
| Revenue Growth % | 1.23% | 14.68% | -9.28% | 14.13% | -38.45% | 79.74% | 43.87% | -30.01% | -30.03% | -50.12% |
| Operating Profit Growth % | -45.81% | 53.80% | 189.92% | 8.72% | -38.35% | 48.54% | 16.21% | -41.47% | -18.39% | -37.29% |
| Net Profit Growth % | -83.56% | 271.17% | 404.31% | 15.11% | -56.67% | 55.58% | 13.05% | -50.70% | -16.68% | -27.89% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -50.70% | -16.68% | -27.89% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 13.09x | 9.79x | 8.79x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.88x | 0.52x | 0.32x |
| 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 | 5.84x | 4.44x | 4.66x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - The Exchange had sought clarification from SPL Industries Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-08-14 - SPL Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-13 - SPL Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026
2026-08-13 - SPL Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - SPL Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22 - SPL Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-22 - SPL Industries Limited has informed the Exchange regarding 'Compliance to the Regulation 36(1)(b) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 '.
2026-07-22 - SPL Industries Limited has informed the Exchange regarding 'Confirmation for sending Notice and Annual Report'.
2026-07-16 - SPL Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 13, 2026
News
Recent coverage and analyst commentary for SPLIL
Loading news…
AI Stock Analyst
SPL Industries Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account