SPEB Adhesives Ltd.
•₹ 87.650%
2026-08-21
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
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SOLARINDS | 19800.00 | 89.97 | 179170.31 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| 2. | PIDILITIND | 1650.00 | 63.40 | 167935.41 | 1.30 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| 3. | SRF | 2575.00 | 35.31 | 76329.39 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| 4. | FLUOROCHEM | 4679.55 | 83.59 | 51404.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 10.02 | 26.83 |
| 5. | NAVINFLUOR | 8281.50 | 53.80 | 42484.11 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| 6. | GODREJIND | 1217.10 | 34.87 | 40998.14 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| 7. | DEEPAKNTR | 1767.85 | 30.78 | 24112.24 | 0.42 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| 8. | AETHER | 1639.40 | 92.52 | 21759.40 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| 9. | ATUL | 6581.75 | 24.36 | 19377.83 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| 10. | AARTIIND | 526.90 | 35.99 | 19112.07 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.39 | 16.00 |
| 11. | DEEPAKFERT | 1474.65 | 18.98 | 18678.34 | 0.68 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| 12. | SPEB | 87.65 | 0.00 | 196.90 | 0.00 | — | — | — | — | 36.37 | — |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
No quarterly results found
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Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | 3 | 3 |
Mar 2022
- 28
- 24
- Operating Profit
- 4
- OPM %
- 14
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 25
- Net Profit
- 3
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2023
- 38
- 36
- Operating Profit
- 3
- OPM %
- 7
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 27
- Net Profit
- 2
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 43
- 36
- Operating Profit
- 7
- OPM %
- 17
- Other Income
- 1
- Interest
- 0
- Depreciation
- 0
- 7
- Tax %
- 26
- Net Profit
- 5
- EPS
- 2,937
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2025
- 45
- 37
- Operating Profit
- 9
- OPM %
- 19
- Other Income
- 1
- Interest
- 0
- Depreciation
- 0
- 8
- Tax %
- 28
- Net Profit
- 6
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 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
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| 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 |
Mar 2022
- Equity Capital
- 0
- 17
- Trade Payables
- 0
- 1
- Total Liabilities
- 19
- 2
- 3
- 3
- 0
- Cash & Bank
- 3
- 8
- Total Assets
- 19
- Total Debt
- 0
- Net Working Capital
- 12
- Contingent Liabilities
- 0
- Book Value per Share
- 9518.82
- Face Value
- 100.00
- Total Debt
- 0
- Net Working Capital
- 12
- Contingent Liabilities
- 0
- Book Value per Share
- 9518.82
- Face Value
- 100.00
Mar 2023
- Equity Capital
- 0
- 19
- Trade Payables
- 0
- 0
- Total Liabilities
- 20
- 2
- 3
- 3
- 0
- Cash & Bank
- 4
- 8
- Total Assets
- 20
- Total Debt
- 0
- Net Working Capital
- 15
- Contingent Liabilities
- 0
- Book Value per Share
- 10551.63
- Face Value
- 100.00
- Total Debt
- 0
- Net Working Capital
- 15
- Contingent Liabilities
- 0
- Book Value per Share
- 10551.63
- Face Value
- 100.00
Mar 2024
- Equity Capital
- 0
- 19
- Trade Payables
- 1
- 0
- Total Liabilities
- 21
- 3
- 0
- 3
- 6
- Cash & Bank
- 8
- 0
- Total Assets
- 21
- Total Debt
- 0
- Net Working Capital
- 17
- Contingent Liabilities
- 0
- Book Value per Share
- 11579.89
- Face Value
- 100.00
- Total Debt
- 0
- Net Working Capital
- 17
- Contingent Liabilities
- 0
- Book Value per Share
- 11579.89
- Face Value
- 100.00
Mar 2025
- Equity Capital
- 18
- 8
- Trade Payables
- 1
- 1
- Total Liabilities
- 27
- 2
- 0
- 2
- 7
- Cash & Bank
- 15
- 1
- Total Assets
- 27
- Total Debt
- 0
- Net Working Capital
- 23
- Contingent Liabilities
- 0
- Book Value per Share
- 14.40
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 23
- Contingent Liabilities
- 0
- Book Value per Share
- 14.40
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| OCF / Net Profit | -0.43 | 0.22 | 0.79 | -0.16 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
Mar 2022
- -1
- Cash from Investing
- 3
- Cash from Financing
- -3
- -1
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- 0
Mar 2023
- 0
- Cash from Investing
- 0
- Cash from Financing
- 0
- 1
- Free Cash Flow
- 0
- OCF / Net Profit
- 0.22
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.22
- Cumulative 5-Year FCF
- 0
Mar 2024
- 4
- Cash from Investing
- 2
- Cash from Financing
- -5
- 1
- Free Cash Flow
- 3
- OCF / Net Profit
- 0.79
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.79
- Cumulative 5-Year FCF
- 0
Mar 2025
- -1
- Cash from Investing
- 0
- Cash from Financing
- 1
- -0
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.16
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.16
- Cumulative 5-Year FCF
- 0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
Mar 2022
- EPS (₹)
- 1410.68
- Book Value (₹)
- 9518.82
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.53
- Operating Margin %
- 14.38%
- Net Margin %
- 9.32%
- ROE %
- 14.82%
- ROCE %
- 20.89%
- 13.91%
- Debtor Days
- 84
- Inventory Days
- 38
- Payable Days
- 0
- 123
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 16.71x
- 11.94x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 993.11
- Book Value (₹)
- 10551.63
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.12
- Operating Margin %
- 7.45%
- Net Margin %
- 4.77%
- ROE %
- 9.90%
- ROCE %
- 13.71%
- 9.49%
- Debtor Days
- 67
- Inventory Days
- 29
- Payable Days
- 0
- 96
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 162.60x
- 34.77x
- Revenue Growth %
- 37.49%
- Operating Profit Growth %
- -28.74%
- Net Profit Growth %
- -29.60%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 2936.82
- Book Value (₹)
- 11579.89
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.08
- Operating Margin %
- 15.36%
- Net Margin %
- 11.58%
- ROE %
- 25.37%
- ROCE %
- 34.23%
- 24.33%
- Debtor Days
- 59
- Inventory Days
- 27
- Payable Days
- 5
- 81
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 376.36x
- 14.87x
- Revenue Growth %
- 11.06%
- Operating Profit Growth %
- 149.70%
- Net Profit Growth %
- 169.58%
- 195.72%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- -1.16x
Mar 2025
- EPS (₹)
- 3.35
- Book Value (₹)
- 14.40
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.60
- Operating Margin %
- 17.51%
- Net Margin %
- 13.16%
- ROE %
- 26.30%
- ROCE %
- 36.37%
- 24.58%
- Debtor Days
- 53
- Inventory Days
- 22
- Payable Days
- 10
- 65
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 424.57x
- 13.42x
- Revenue Growth %
- 5.11%
- Operating Profit Growth %
- 20.29%
- Net Profit Growth %
- 19.40%
- -99.89%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.33x
Documents
Announcements
Nothing filed yet.
Annual Reports
Nothing filed yet.
Credit Ratings
Nothing filed yet.
Concalls
May 2026
Mar 2026