Spectrum Talent Management Ltd.

•

₹ 62.5-0.08%

2026-08-21

stmpl.co.inBSE: -NSE: SPECTSTM

Market Cap₹ 144 Cr.

Current Price₹ 63

High / Low₹ 119 / 51

Stock P/E11.8

Book Value₹ 72

Price to Book2.48

Dividend Yield0.00 %

ROCE5.4 %

ROE4.8 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Manpower Supply, Recruitment & Related Services: 54.9% • Electronic Goods: 45.1%

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 28.9%
Company has a healthy return on capital (ROCE) of 20.7%
Company has delivered good sales growth of 31.5% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company comfortably covers its interest (9.4x coverage)
Institutional investors have been accumulating - FII+DII up 3.3pp

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (39.7% of PBT)
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.34x)
Equity base is being diluted - shares outstanding up 507.7%
Company has delivered a poor profit growth of 1.4% over past five years

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

Peer comparison

EDIT COLUMNS

ServicesBusiness ServicesProfessional Services

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

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.	URBANCO	147.40	0.00	22731.74	0.00	-921.20	-13373.78	5283.40	1338.56	-8.23	-18.44
2.	BLS	271.30	15.83	11170.53	0.92	201.62	11.41	890.53	25.33	41.51	28.34
3.	SIS	413.85	39.92	5848.98	1.69	101.66	9.37	4603.58	29.73	7.39	4.66
4.	QUESS	336.50	19.90	5025.96	3.27	82.12	61.07	4181.68	14.52	24.72	2.02
5.	BLSE	314.00	49.09	2852.89	0.16	18.63	6.30	304.09	24.63	17.52	6.98
6.	TEAMLEASE	1239.85	12.80	1894.66	0.00	34.45	37.74	3034.69	4.96	14.52	1.05
7.	BLUSPRING	119.80	0.00	1791.04	0.00	-1.58	77.90	949.29	19.07	1.32	2.17
8.	KAPSTON	523.40	52.23	1592.82	0.00	84.89	1284.83	2216.57	1062.33	13.16	6.56
9.	UDS	216.75	16.72	1451.21	0.00	30.28	4.47	764.29	9.15	9.99	5.54
10.	GCSL	522.95	46.36	1263.41	0.13	12.80	1240.31	37.52	70.71	21.85	46.76
11.	KRYSTAL	628.70	14.31	878.42	0.24	17.41	5.92	360.71	11.65	17.52	6.33
12.	SPECTSTM	62.55	11.78	144.45	0.00	—	—	—	—	5.35	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	323	302	483	768	1,016	1,270
	314	297	467	744	1,007	1,262
Operating Profit	9	6	16	24	12	11
OPM %	3	2	3	3	1	1
Other Income	0	1	0	1	2	3
Interest	0	0	0	1	0	1
Depreciation	1	1	1	2	1	2
	8	5	15	22	10	8
Tax %	19	-5	-0	-25	-16	12
Net Profit	7	5	15	28	12	7
EPS	14	10	8	16	5	3
Dividend Payout %	3	0	0	0	0	0
Minority Interest	0	0	0	0	-0	0
Share of Associates	0	0	0	0	0	0
Adjusted EPS	4	3	10	16	5	3
Minority Interest	0	0	0	0	-0	0
Share of Associates	0	0	0	0	0	0
Adjusted EPS	4	3	10	16	5	3

Mar 2020

: 323
: 314
Operating Profit: 9
OPM %: 3
Other Income: 0
Interest: 0
Depreciation: 1
: 8
Tax %: 19
Net Profit: 7
EPS: 14
Dividend Payout %: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2021

: 302
: 297
Operating Profit: 6
OPM %: 2
Other Income: 1
Interest: 0
Depreciation: 1
: 5
Tax %: -5
Net Profit: 5
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2022

: 483
: 467
Operating Profit: 16
OPM %: 3
Other Income: 0
Interest: 0
Depreciation: 1
: 15
Tax %: -0
Net Profit: 15
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2023

: 768
: 744
Operating Profit: 24
OPM %: 3
Other Income: 1
Interest: 1
Depreciation: 2
: 22
Tax %: -25
Net Profit: 28
EPS: 16
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

Mar 2024

: 1,016
: 1,007
Operating Profit: 12
OPM %: 1
Other Income: 2
Interest: 0
Depreciation: 1
: 10
Tax %: -16
Net Profit: 12
EPS: 5
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 5

Mar 2025

: 1,270
: 1,262
Operating Profit: 11
OPM %: 1
Other Income: 3
Interest: 1
Depreciation: 2
: 8
Tax %: 12
Net Profit: 7
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:: 31%
3 Years:: 38%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 1%
3 Years:: -22%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -20%
1 Year:: -42%

RETURN ON EQUITY

10 Years:: —
5 Years:: 40%
3 Years:: 29%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-
	5	5	4	18	23	23
	10	10	19	38	124	130
	4	0	10	4	0	35
Trade Payables	0	1	1	2	3	2
	22	30	29	27	42	52
Total Liabilities	41	46	64	89	191	242
ASSETS	-	-	-	-	-	-
	2	2	3	3	7	8
	0	5	1	0	0	0
	0	0	2	5	2	8
	0	0	0	0	79	119
Cash & Bank	11	8	5	6	72	36
	27	31	53	75	32	71
Total Assets	41	46	64	89	191	242
Total Debt	4	1	10	4	1	35
Net Working Capital	13	17	25	46	133	144
Contingent Liabilities	0	0	1	1	1	35
Book Value per Share	31.59	31.61	60.92	31.16	63.48	66.38
Face Value	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	4	1	10	4	1	35
Net Working Capital	13	17	25	46	133	144
Contingent Liabilities	0	0	1	1	1	35
Book Value per Share	31.59	31.61	60.92	31.16	63.48	66.38
Face Value	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2020

: 5
: 10
: 4
Trade Payables: 0
: 22
Total Liabilities: 41
: 2
: 0
: 0
: 0
Cash & Bank: 11
: 27
Total Assets: 41
Total Debt: 4
Net Working Capital: 13
Contingent Liabilities: 0
Book Value per Share: 31.59
Face Value: 10.00
Total Debt: 4
Net Working Capital: 13
Contingent Liabilities: 0
Book Value per Share: 31.59
Face Value: 10.00

Mar 2021

: 5
: 10
: 0
Trade Payables: 1
: 30
Total Liabilities: 46
: 2
: 5
: 0
: 0
Cash & Bank: 8
: 31
Total Assets: 46
Total Debt: 1
Net Working Capital: 17
Contingent Liabilities: 0
Book Value per Share: 31.61
Face Value: 10.00
Total Debt: 1
Net Working Capital: 17
Contingent Liabilities: 0
Book Value per Share: 31.61
Face Value: 10.00

Mar 2022

: 4
: 19
: 10
Trade Payables: 1
: 29
Total Liabilities: 64
: 3
: 1
: 2
: 0
Cash & Bank: 5
: 53
Total Assets: 64
Total Debt: 10
Net Working Capital: 25
Contingent Liabilities: 1
Book Value per Share: 60.92
Face Value: 10.00
Total Debt: 10
Net Working Capital: 25
Contingent Liabilities: 1
Book Value per Share: 60.92
Face Value: 10.00

Mar 2023

: 18
: 38
: 4
Trade Payables: 2
: 27
Total Liabilities: 89
: 3
: 0
: 5
: 0
Cash & Bank: 6
: 75
Total Assets: 89
Total Debt: 4
Net Working Capital: 46
Contingent Liabilities: 1
Book Value per Share: 31.16
Face Value: 10.00
Total Debt: 4
Net Working Capital: 46
Contingent Liabilities: 1
Book Value per Share: 31.16
Face Value: 10.00

Mar 2024

: 23
: 124
: 0
Trade Payables: 3
: 42
Total Liabilities: 191
: 7
: 0
: 2
: 79
Cash & Bank: 72
: 32
Total Assets: 191
Total Debt: 1
Net Working Capital: 133
Contingent Liabilities: 1
Book Value per Share: 63.48
Face Value: 10.00
Total Debt: 1
Net Working Capital: 133
Contingent Liabilities: 1
Book Value per Share: 63.48
Face Value: 10.00

Mar 2025

: 23
: 130
: 35
Trade Payables: 2
: 52
Total Liabilities: 242
: 8
: 0
: 8
: 119
Cash & Bank: 36
: 71
Total Assets: 242
Total Debt: 35
Net Working Capital: 144
Contingent Liabilities: 35
Book Value per Share: 66.38
Face Value: 10.00
Total Debt: 35
Net Working Capital: 144
Contingent Liabilities: 35
Book Value per Share: 66.38
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	6	5	-7	9	-5	-67
Cash from Investing	0	-5	2	-1	-5	-8
Cash from Financing	-3	-4	3	-7	76	39
	3	-3	-2	1	66	-36
Free Cash Flow	6	5	-9	7	-9	-70
OCF / Net Profit	0.83	1.14	-0.48	0.33	-0.41	-9.25
Cumulative 5-Year FCF	0	0	0	0	0	-76
OCF / Net Profit	0.83	1.14	-0.48	0.33	-0.41	-9.25
Cumulative 5-Year FCF	0	0	0	0	0	-76

Mar 2020

: 6
Cash from Investing: 0
Cash from Financing: -3
: 3
Free Cash Flow: 6
OCF / Net Profit: 0.83
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.83
Cumulative 5-Year FCF: 0

Mar 2021

: 5
Cash from Investing: -5
Cash from Financing: -4
: -3
Free Cash Flow: 5
OCF / Net Profit: 1.14
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.14
Cumulative 5-Year FCF: 0

Mar 2022

: -7
Cash from Investing: 2
Cash from Financing: 3
: -2
Free Cash Flow: -9
OCF / Net Profit: -0.48
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.48
Cumulative 5-Year FCF: 0

Mar 2023

: 9
Cash from Investing: -1
Cash from Financing: -7
: 1
Free Cash Flow: 7
OCF / Net Profit: 0.33
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.33
Cumulative 5-Year FCF: 0

Mar 2024

: -5
Cash from Investing: -5
Cash from Financing: 76
: 66
Free Cash Flow: -9
OCF / Net Profit: -0.41
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.41
Cumulative 5-Year FCF: 0

Mar 2025

: -67
Cash from Investing: -8
Cash from Financing: 39
: -36
Free Cash Flow: -70
OCF / Net Profit: -9.25
Cumulative 5-Year FCF: -76
OCF / Net Profit: -9.25
Cumulative 5-Year FCF: -76

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-
EPS (₹)	14.23	10.03	40.14	15.53	5.02	3.13
Book Value (₹)	31.59	31.61	60.92	31.16	63.48	66.38
Dividend per Share (₹)	0.38	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	4.06	3.04	10.88	16.37	5.65	4.14
PROFITABILITY	-	-	-	-	-	-
Operating Margin %	2.85%	1.84%	3.35%	3.17%	0.92%	0.65%
Net Margin %	2.09%	1.58%	3.16%	3.62%	1.14%	0.57%
ROE %	45.05%	31.74%	79.90%	70.45%	11.46%	4.83%
ROCE %	44.02%	23.64%	52.25%	46.74%	10.03%	5.35%
	16.65%	11.02%	27.79%	36.37%	8.27%	3.34%
EFFICIENCY	-	-	-	-	-	-
Debtor Days	23	27	25	24	25	28
Inventory Days	0	0	2	2	1	1
Payable Days	0	0	5	3	2	1
	23	27	22	23	24	28
FINANCIAL HEALTH	-	-	-	-	-	-
Debt to Equity (x)	0.28x	0.03x	0.37x	0.07x	0.01x	0.23x
Interest Coverage (x)	72.64x	33.60x	128.50x	34.66x	29.67x	9.42x
	1.52x	1.67x	1.69x	2.18x	3.58x	2.64x
GROWTH	-	-	-	-	-	-
Revenue Growth %	0.00%	-6.47%	59.80%	58.94%	32.31%	24.99%
Operating Profit Growth %	0.00%	-39.81%	191.16%	50.52%	-51.35%	-3.15%
Net Profit Growth %	0.00%	-29.52%	220.02%	82.43%	-58.29%	-37.61%
	0.00%	0.00%	0.00%	0.00%	-67.69%	-37.55%
VALUATION	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	15.21x	52.52x
P/B (x)	0.00x	0.00x	0.00x	0.00x	1.20x	2.48x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	8.85x	33.07x

Mar 2020

EPS (₹): 14.23
Book Value (₹): 31.59
Dividend per Share (₹): 0.38
Cash EPS (₹): 4.06
Operating Margin %: 2.85%
Net Margin %: 2.09%
ROE %: 45.05%
ROCE %: 44.02%
: 16.65%
Debtor Days: 23
Inventory Days: 0
Payable Days: 0
: 23
Debt to Equity (x): 0.28x
Interest Coverage (x): 72.64x
: 1.52x
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 2021

EPS (₹): 10.03
Book Value (₹): 31.61
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.04
Operating Margin %: 1.84%
Net Margin %: 1.58%
ROE %: 31.74%
ROCE %: 23.64%
: 11.02%
Debtor Days: 27
Inventory Days: 0
Payable Days: 0
: 27
Debt to Equity (x): 0.03x
Interest Coverage (x): 33.60x
: 1.67x
Revenue Growth %: -6.47%
Operating Profit Growth %: -39.81%
Net Profit Growth %: -29.52%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 40.14
Book Value (₹): 60.92
Dividend per Share (₹): 0.00
Cash EPS (₹): 10.88
Operating Margin %: 3.35%
Net Margin %: 3.16%
ROE %: 79.90%
ROCE %: 52.25%
: 27.79%
Debtor Days: 25
Inventory Days: 2
Payable Days: 5
: 22
Debt to Equity (x): 0.37x
Interest Coverage (x): 128.50x
: 1.69x
Revenue Growth %: 59.80%
Operating Profit Growth %: 191.16%
Net Profit Growth %: 220.02%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 15.53
Book Value (₹): 31.16
Dividend per Share (₹): 0.00
Cash EPS (₹): 16.37
Operating Margin %: 3.17%
Net Margin %: 3.62%
ROE %: 70.45%
ROCE %: 46.74%
: 36.37%
Debtor Days: 24
Inventory Days: 2
Payable Days: 3
: 23
Debt to Equity (x): 0.07x
Interest Coverage (x): 34.66x
: 2.18x
Revenue Growth %: 58.94%
Operating Profit Growth %: 50.52%
Net Profit Growth %: 82.43%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 5.02
Book Value (₹): 63.48
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.65
Operating Margin %: 0.92%
Net Margin %: 1.14%
ROE %: 11.46%
ROCE %: 10.03%
: 8.27%
Debtor Days: 25
Inventory Days: 1
Payable Days: 2
: 24
Debt to Equity (x): 0.01x
Interest Coverage (x): 29.67x
: 3.58x
Revenue Growth %: 32.31%
Operating Profit Growth %: -51.35%
Net Profit Growth %: -58.29%
: -67.69%
P/E (x): 15.21x
P/B (x): 1.20x
Dividend Yield %: 0.00%
: 8.85x

Mar 2025

EPS (₹): 3.13
Book Value (₹): 66.38
Dividend per Share (₹): 0.00
Cash EPS (₹): 4.14
Operating Margin %: 0.65%
Net Margin %: 0.57%
ROE %: 4.83%
ROCE %: 5.35%
: 3.34%
Debtor Days: 28
Inventory Days: 1
Payable Days: 1
: 28
Debt to Equity (x): 0.23x
Interest Coverage (x): 9.42x
: 2.64x
Revenue Growth %: 24.99%
Operating Profit Growth %: -3.15%
Net Profit Growth %: -37.61%
: -37.55%
P/E (x): 52.52x
P/B (x): 2.48x
Dividend Yield %: 0.00%
: 33.07x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.68	73.68	73.68	73.68	73.68	74.52
	0.12	1.66	1.87	2.67	2.52	2.52
	1.21	1.57	2.29	2.29	2.29	3.99
Government	0.00	0.00	0.00	0.00	0.00	0.00
	24.98	23.09	22.15	21.36	21.50	18.97

Sep 2023

: 73.68
: 0.12
: 1.21
Government: 0.00
: 24.98

Mar 2024

: 73.68
: 1.66
: 1.57
Government: 0.00
: 23.09

Sep 2024

: 73.68
: 1.87
: 2.29
Government: 0.00
: 22.15

Mar 2025

: 73.68
: 2.67
: 2.29
Government: 0.00
: 21.36

Sep 2025

: 73.68
: 2.52
: 2.29
Government: 0.00
: 21.50

Mar 2026

: 74.52
: 2.52
: 3.99
Government: 0.00
: 18.97

Documents

Announcements

Nothing filed yet.

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Jun 2025
TranscriptPPTREC
Nov 2024
Transcript PPTREC
May 2024
Transcript PPTREC