SP Apparels Ltd (SPAL): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: August 29, 2025, 10:44 pm

Quick Insight

SP Apparels Ltd (SPAL) currently trades at a price of 712 with a market capitalization of 1,787 Cr. The company's P/E ratio stands at 18.2, indicating a reasonable valuation. With a ROE of 11.7% and ROCE of 14.2%, SPAL shows decent profitability and capital efficiency. Operating profit margin (OPM) at 13% is in line with industry standards, while net profit stands at 95 Cr. Although details on specific shareholders are not available, the company holds reserves of 831 Cr and carries borrowings of ₹381 Cr. A healthy ICR of 5.97x suggests a strong ability to meet debt obligations. Overall, SP Apparels Ltd presents a solid financial profile, supported by consistent profitability and efficient capital utilization.

Competitors of SP Apparels Ltd (SPAL)

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Quarterly Result

Last Updated: August 20, 2025, 4:20 am

Below is a detailed analysis of the quarterly data for SP Apparels Ltd (SPAL) based on the most recent figures (Jun 2025) and their trends compared to the previous period:

• For Sales, as of Jun 2025, the value is 403.00 Cr.. The value appears strong and on an upward trend. It has increased from 399.00 Cr. (Mar 2025) to 403.00 Cr., marking an increase of 4.00 Cr..
• For Expenses, as of Jun 2025, the value is 351.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 345.00 Cr. (Mar 2025) to 351.00 Cr., marking an increase of 6.00 Cr..
• For Operating Profit, as of Jun 2025, the value is 53.00 Cr.. The value appears to be declining and may need further review. It has decreased from 54.00 Cr. (Mar 2025) to 53.00 Cr., marking a decrease of 1.00 Cr..
• For OPM %, as of Jun 2025, the value is 13.00%. The value appears to be declining and may need further review. It has decreased from 14.00% (Mar 2025) to 13.00%, marking a decrease of 1.00%.
• For Other Income, as of Jun 2025, the value is 2.00 Cr.. The value appears to be declining and may need further review. It has decreased from 4.00 Cr. (Mar 2025) to 2.00 Cr., marking a decrease of 2.00 Cr..
• For Interest, as of Jun 2025, the value is 12.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 10.00 Cr. (Mar 2025) to 12.00 Cr., marking an increase of 2.00 Cr..
• For Depreciation, as of Jun 2025, the value is 11.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 11.00 Cr..
• For Profit before tax, as of Jun 2025, the value is 31.00 Cr.. The value appears to be declining and may need further review. It has decreased from 37.00 Cr. (Mar 2025) to 31.00 Cr., marking a decrease of 6.00 Cr..
• For Tax %, as of Jun 2025, the value is 32.00%. The value appears to be increasing, which may not be favorable. It has increased from 19.00% (Mar 2025) to 32.00%, marking an increase of 13.00%.
• For Net Profit, as of Jun 2025, the value is 21.00 Cr.. The value appears to be declining and may need further review. It has decreased from 30.00 Cr. (Mar 2025) to 21.00 Cr., marking a decrease of 9.00 Cr..
• For EPS in Rs, as of Jun 2025, the value is 8.53. The value appears to be declining and may need further review. It has decreased from 12.12 (Mar 2025) to 8.53, marking a decrease of 3.59.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: August 23, 2025, 2:10 pm

Growth

Last Updated: Unknown

Balance Sheet

Last Updated: July 25, 2025, 2:27 pm

Below is a detailed analysis of the balance sheet data for SP Apparels Ltd (SPAL) based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 25.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 25.00 Cr..
• For Reserves, as of Mar 2025, the value is 831.00 Cr.. The value appears strong and on an upward trend. It has increased from 739.00 Cr. (Mar 2024) to 831.00 Cr., marking an increase of 92.00 Cr..
• For Borrowings, as of Mar 2025, the value is 381.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 203.00 Cr. (Mar 2024) to 381.00 Cr., marking an increase of 178.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 219.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 175.00 Cr. (Mar 2024) to 219.00 Cr., marking an increase of 44.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 1,456.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,142.00 Cr. (Mar 2024) to 1,456.00 Cr., marking an increase of 314.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 595.00 Cr.. The value appears strong and on an upward trend. It has increased from 454.00 Cr. (Mar 2024) to 595.00 Cr., marking an increase of 141.00 Cr..
• For CWIP, as of Mar 2025, the value is 31.00 Cr.. The value appears strong and on an upward trend. It has increased from 19.00 Cr. (Mar 2024) to 31.00 Cr., marking an increase of 12.00 Cr..
• For Investments, as of Mar 2025, the value is 10.00 Cr.. The value appears to be declining and may need further review. It has decreased from 51.00 Cr. (Mar 2024) to 10.00 Cr., marking a decrease of 41.00 Cr..
• For Other Assets, as of Mar 2025, the value is 821.00 Cr.. The value appears strong and on an upward trend. It has increased from 618.00 Cr. (Mar 2024) to 821.00 Cr., marking an increase of 203.00 Cr..
• For Total Assets, as of Mar 2025, the value is 1,456.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,142.00 Cr. (Mar 2024) to 1,456.00 Cr., marking an increase of 314.00 Cr..

Notably, the Reserves (831.00 Cr.) exceed the Borrowings (381.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Financial Efficiency Indicators

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for SP Apparels Ltd (SPAL), here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 25, the value is 37.90. This value is within the healthy range. It has increased from 35.72 (Mar 24) to 37.90, marking an increase of 2.18.
• For Diluted EPS (Rs.), as of Mar 25, the value is 37.90. This value is within the healthy range. It has increased from 35.72 (Mar 24) to 37.90, marking an increase of 2.18.
• For Cash EPS (Rs.), as of Mar 25, the value is 55.15. This value is within the healthy range. It has increased from 50.76 (Mar 24) to 55.15, marking an increase of 4.39.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 341.27. It has increased from 301.76 (Mar 24) to 341.27, marking an increase of 39.51.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 341.27. It has increased from 301.76 (Mar 24) to 341.27, marking an increase of 39.51.
• For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 555.99. It has increased from 433.33 (Mar 24) to 555.99, marking an increase of 122.66.
• For PBDIT / Share (Rs.), as of Mar 25, the value is 79.70. This value is within the healthy range. It has increased from 69.38 (Mar 24) to 79.70, marking an increase of 10.32.
• For PBIT / Share (Rs.), as of Mar 25, the value is 62.45. This value is within the healthy range. It has increased from 54.33 (Mar 24) to 62.45, marking an increase of 8.12.
• For PBT / Share (Rs.), as of Mar 25, the value is 49.10. This value is within the healthy range. It has increased from 46.88 (Mar 24) to 49.10, marking an increase of 2.22.
• For Net Profit / Share (Rs.), as of Mar 25, the value is 37.90. This value is within the healthy range. It has increased from 35.72 (Mar 24) to 37.90, marking an increase of 2.18.
• For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 37.88. This value is within the healthy range. It has increased from 35.72 (Mar 24) to 37.88, marking an increase of 2.16.
• For PBDIT Margin (%), as of Mar 25, the value is 14.33. This value is within the healthy range. It has decreased from 16.01 (Mar 24) to 14.33, marking a decrease of 1.68.
• For PBIT Margin (%), as of Mar 25, the value is 11.23. This value is within the healthy range. It has decreased from 12.53 (Mar 24) to 11.23, marking a decrease of 1.30.
• For PBT Margin (%), as of Mar 25, the value is 8.83. This value is below the healthy minimum of 10. It has decreased from 10.81 (Mar 24) to 8.83, marking a decrease of 1.98.
• For Net Profit Margin (%), as of Mar 25, the value is 6.81. This value is within the healthy range. It has decreased from 8.24 (Mar 24) to 6.81, marking a decrease of 1.43.
• For NP After MI And SOA Margin (%), as of Mar 25, the value is 6.81. This value is below the healthy minimum of 8. It has decreased from 8.24 (Mar 24) to 6.81, marking a decrease of 1.43.
• For Return on Networth / Equity (%), as of Mar 25, the value is 11.10. This value is below the healthy minimum of 15. It has decreased from 11.73 (Mar 24) to 11.10, marking a decrease of 0.63.
• For Return on Capital Employeed (%), as of Mar 25, the value is 16.54. This value is within the healthy range. It has increased from 16.49 (Mar 24) to 16.54, marking an increase of 0.05.
• For Return On Assets (%), as of Mar 25, the value is 6.52. This value is within the healthy range. It has decreased from 7.85 (Mar 24) to 6.52, marking a decrease of 1.33.
• For Long Term Debt / Equity (X), as of Mar 25, the value is 0.07. This value is below the healthy minimum of 0.2. It has increased from 0.01 (Mar 24) to 0.07, marking an increase of 0.06.
• For Total Debt / Equity (X), as of Mar 25, the value is 0.44. This value is within the healthy range. It has increased from 0.23 (Mar 24) to 0.44, marking an increase of 0.21.
• For Asset Turnover Ratio (%), as of Mar 25, the value is 1.07. It has increased from 0.97 (Mar 24) to 1.07, marking an increase of 0.10.
• For Current Ratio (X), as of Mar 25, the value is 1.46. This value is below the healthy minimum of 1.5. It has decreased from 1.91 (Mar 24) to 1.46, marking a decrease of 0.45.
• For Quick Ratio (X), as of Mar 25, the value is 0.72. This value is below the healthy minimum of 1. It has decreased from 1.07 (Mar 24) to 0.72, marking a decrease of 0.35.
• For Inventory Turnover Ratio (X), as of Mar 25, the value is 1.53. This value is below the healthy minimum of 4. It has increased from 1.15 (Mar 24) to 1.53, marking an increase of 0.38.
• For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 8.39 (Mar 24) to 0.00, marking a decrease of 8.39.
• For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 5.90 (Mar 24) to 0.00, marking a decrease of 5.90.
• For Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 91.61 (Mar 24) to 0.00, marking a decrease of 91.61.
• For Cash Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 94.10 (Mar 24) to 0.00, marking a decrease of 94.10.
• For Interest Coverage Ratio (X), as of Mar 25, the value is 5.97. This value is within the healthy range. It has decreased from 9.31 (Mar 24) to 5.97, marking a decrease of 3.34.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.84. This value is within the healthy range. It has decreased from 5.79 (Mar 24) to 3.84, marking a decrease of 1.95.
• For Enterprise Value (Cr.), as of Mar 25, the value is 2,045.11. It has increased from 1,548.80 (Mar 24) to 2,045.11, marking an increase of 496.31.
• For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.47. This value is within the healthy range. It has increased from 1.42 (Mar 24) to 1.47, marking an increase of 0.05.
• For EV / EBITDA (X), as of Mar 25, the value is 10.23. This value is within the healthy range. It has increased from 8.90 (Mar 24) to 10.23, marking an increase of 1.33.
• For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.23. This value is within the healthy range. It has decreased from 1.34 (Mar 24) to 1.23, marking a decrease of 0.11.
• For Retention Ratios (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 91.60 (Mar 24) to 0.00, marking a decrease of 91.60.
• For Price / BV (X), as of Mar 25, the value is 2.00. This value is within the healthy range. It has increased from 1.91 (Mar 24) to 2.00, marking an increase of 0.09.
• For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.23. This value is within the healthy range. It has decreased from 1.34 (Mar 24) to 1.23, marking a decrease of 0.11.
• For EarningsYield, as of Mar 25, the value is 0.05. This value is below the healthy minimum of 5. It has decreased from 0.06 (Mar 24) to 0.05, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness