Spectrum Electrical Industries Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:48 am

Market Cap	3,409 Cr.
Current Price	2,184
High / Low	2,520/1,060
Stock P/E	160
Book Value	114
Dividend Yield	0.05 %
ROCE	16.5 %
ROE	14.9 %
Face Value	10.0
PEG Ratio	4.98

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Evans Electric Ltd	117 Cr.	426	504/166	41.3	74.6	0.35 %	36.4 %	28.0 %	10.0
Epic Energy Ltd	94.8 Cr.	131	148/5.97	126	10.0	0.00 %	5.03 %	5.49 %	10.0
Edvenswa Enterprises Ltd	176 Cr.	60.3	99.8/42.4	20.0	25.5	0.00 %	23.5 %	15.4 %	10.0
Cospower Engineering Ltd	91.5 Cr.	610	740/200	102	49.8	0.00 %	8.12 %	1.54 %	10.0
Continental Controls Ltd	8.60 Cr.	14.0	18.5/5.81	430	3.43	0.00 %	7.82 %	14.0 %	10.0
Industry Average	14,962.67 Cr	717.66		145.17	76.00	0.09%	15.75%	19.05%	6.27

All Competitor Stocks of

Quarterly Result

Month	Sep 2019	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024
Sales	74	69	55	98	123	129	126	132	135	193
Expenses	64	63	48	84	109	118	114	116	117	167
Operating Profit	10	6	7	14	15	12	12	16	18	26
OPM %	14%	8%	12%	14%	12%	9%	10%	12%	13%	14%
Other Income	0	0	0	0	0	0	0	0	0	0
Interest	2	1	3	3	4	4	4	3	4	5
Depreciation	3	3	3	3	4	4	4	5	5	4
Profit before tax	5	1	1	8	7	4	4	8	10	17
Tax %	28%	28%	27%	28%	28%	28%	28%	28%	29%	27%
Net Profit	4	1	0	6	5	3	3	6	7	12
EPS in Rs	2.45	0.64	0.27	3.64	3.36	1.71	1.81	3.76	4.68	7.93

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales	0	0	0	2	7	120	147	141	151	251	253	328
Expenses	0	0	0	2	5	103	129	126	133	226	230	284
Operating Profit	0	0	0	0	1	16	18	15	19	25	23	45
OPM %				23%	19%	14%	12%	10%	12%	10%	9%	14%
Other Income	0	0	0	0	0	0	1	1	2	1	5	0
Interest	0	0	0	0	0	4	3	3	6	8	7	9
Depreciation	0	0	0	0	0	4	6	6	6	8	9	9
Profit before tax	0	0	0	0	1	8	10	6	8	11	12	27
Tax %				23%	20%	27%	28%	28%	28%	28%	28%	28%
Net Profit	0	0	0	0	1	6	7	5	6	8	8	19
EPS in Rs	0.00	0.00	0.00	6.01	10.62	52.96	4.85	3.10	3.91	5.06	5.57	12.47
Dividend Payout %				0%	0%	0%	0%	0%	26%	20%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	500.00%	16.67%	-28.57%	20.00%	33.33%	0.00%	137.50%
Change in YoY Net Profit Growth (%)	0.00%	-483.33%	-45.24%	48.57%	13.33%	-33.33%	137.50%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2017-2018 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	17%
3 Years:	29%
TTM:	32%

Compounded Profit Growth
10 Years:	%
5 Years:	22%
3 Years:	49%
TTM:	67%

Stock Price CAGR
10 Years:	%
5 Years:	107%
3 Years:	250%
1 Year:	64%

Return on Equity
10 Years:	%
5 Years:	10%
3 Years:	12%
Last Year:	15%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:43 pm

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	0.01	0.01	0.01	5	5	11	15	15	15	15	15	16	16
Reserves	-0	-0	-0	0	1	23	51	56	62	68	77	154	163
Borrowings	-0	-0	-0	8	11	38	46	67	77	77	84	88	89
Other Liabilities	-0	-0	-0	2	8	35	31	22	34	56	64	58	53
Total Liabilities	0	0	0	15	25	108	143	159	188	216	239	316	320
Fixed Assets	-0	-0	-0	2	6	50	45	45	70	80	75	77	75
CWIP	-0	-0	-0	9	14	-0	6	20	1	3	7	10	18
Investments	-0	-0	-0	-0	-0	4	9	10	14	15	16	38	32
Other Assets	0	0	0	5	5	54	83	84	103	117	141	191	195
Total Assets	0	0	0	15	25	108	143	159	188	216	239	316	320

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	0	0	0	-2	9	-9	-17	3	12	24	8	-20
Cash from Investing Activity +	0	0	0	-5	-10	-35	-12	-20	-11	-21	-3	-30
Cash from Financing Activity +	0	0	0	8	2	44	29	18	5	-9	0	54
Net Cash Flow	0	0	0	1	1	-0	0	1	6	-6	6	4

Free Cash Flow

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	0.00	0.00	0.00	-8.00	-10.00	-22.00	-28.00	-52.00	-58.00	-52.00	-61.00	-43.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days			0	0	69	63	61	61	50	67	91
Inventory Days			190	95	106	139	157	207	135	143	102
Days Payable			190	695	148	98	55	86	78	102	61
Cash Conversion Cycle			0	-601	26	105	163	183	107	108	133
Working Capital Days			461	-281	48	87	118	126	86	105	137
ROCE %	0%	0%		6%	28%	14%	8%	10%	12%	11%	17%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2018	Mar 2019	Sep 2019	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024
Promoters	68.64%	68.64%	68.64%	68.64%	68.64%	68.91%	69.48%	71.45%	71.45%	71.45%	74.88%	72.53%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	2.51%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.00%	0.31%
Public	31.36%	31.38%	31.37%	31.37%	31.37%	31.09%	30.51%	28.55%	28.55%	28.48%	24.56%	24.64%
No. of Shareholders	595	121	118	116	109	101	109	104	109	170	272	628

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	12.64	5.59	5.06	3.91	3.10
Diluted EPS (Rs.)	12.64	5.59	5.06	3.91	3.10
Cash EPS (Rs.)	18.31	11.54	10.31	8.16	7.10
Book Value[Excl.RevalReserv]/Share (Rs.)	108.72	60.90	55.15	50.93	46.86
Book Value[Incl.RevalReserv]/Share (Rs.)	108.72	60.90	55.15	50.93	46.86
Revenue From Operations / Share (Rs.)	210.22	167.56	166.21	100.07	93.39
PBDIT / Share (Rs.)	28.89	18.62	17.38	13.53	10.46
PBIT / Share (Rs.)	23.22	12.66	12.13	9.28	6.45
PBT / Share (Rs.)	17.51	7.75	7.01	5.41	4.29
Net Profit / Share (Rs.)	12.64	5.59	5.06	3.91	3.10
NP After MI And SOA / Share (Rs.)	12.64	5.59	5.06	3.91	3.10
PBDIT Margin (%)	13.74	11.11	10.45	13.52	11.20
PBIT Margin (%)	11.04	7.55	7.30	9.27	6.91
PBT Margin (%)	8.32	4.62	4.22	5.40	4.59
Net Profit Margin (%)	6.01	3.33	3.04	3.90	3.31
NP After MI And SOA Margin (%)	6.01	3.33	3.04	3.90	3.31
Return on Networth / Equity (%)	11.62	9.17	9.18	7.66	6.60
Return on Capital Employeed (%)	19.04	14.07	14.27	11.13	8.95
Return On Assets (%)	6.21	3.30	3.51	3.12	2.93
Long Term Debt / Equity (X)	0.10	0.41	0.44	0.61	0.52
Total Debt / Equity (X)	0.52	1.08	0.94	1.01	0.94
Asset Turnover Ratio (%)	1.15	1.07	1.24	0.87	0.93
Current Ratio (X)	1.63	1.20	1.33	1.66	1.58
Quick Ratio (X)	1.12	0.61	0.59	0.77	0.80
Inventory Turnover Ratio (X)	3.47	2.59	2.93	2.14	2.56
Dividend Payout Ratio (NP) (%)	7.66	0.00	19.75	0.00	0.00
Dividend Payout Ratio (CP) (%)	5.29	0.00	9.70	0.00	0.00
Earning Retention Ratio (%)	92.34	0.00	80.25	0.00	0.00
Cash Earning Retention Ratio (%)	94.71	0.00	90.30	0.00	0.00
Interest Coverage Ratio (X)	5.06	3.79	3.39	3.50	4.83
Interest Coverage Ratio (Post Tax) (X)	3.21	2.14	1.99	2.01	2.43
Enterprise Value (Cr.)	2469.58	612.26	217.80	155.28	144.01
EV / Net Operating Revenue (X)	7.53	2.42	0.86	1.03	1.02
EV / EBITDA (X)	54.77	21.75	8.29	7.59	9.10
MarketCap / Net Operating Revenue (X)	7.29	2.06	0.56	0.56	0.56
Retention Ratios (%)	92.33	0.00	80.24	0.00	0.00
Price / BV (X)	14.10	5.66	1.70	1.12	1.13
Price / Net Operating Revenue (X)	7.29	2.06	0.56	0.56	0.56
EarningsYield	0.01	0.01	0.05	0.06	0.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 2,719.12

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 24.50% compared to the current share price 2,184.00

Intrinsic Value of as of December 22, 2024 is: 3,591.94

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 64.47% compared to the current share price 2,184.00

Last 5 Year EPS CAGR: 32.10%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (50.38 cr) compared to borrowings (45.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (116.67 cr) and profit (6.92 cr) over the years.	The stock has a low average ROCE of 8.83%, which may not be favorable. The stock has a high average Working Capital Days of 73.92, which may not be favorable. The stock has a high average Cash Conversion Cycle of 18.67, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 6.01%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 19.04% (Industry Average ROCE: 15.15%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 11.62% (Industry Average ROE: 18.32%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.21
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.12
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 160 (Industry average Stock P/E: 128.42)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.52
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Spectrum Electrical Industries Ltd. is a Public Limited Listed company incorporated on 12/08/2008 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L28100MH2008PLC185764 and registration number is 185764. Currently company belongs to the Industry of Electric Equipment - General. Company’s Total Operating Revenue is Rs. 251.30 Cr. and Equity Capital is Rs. 15.12 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Electric Equipment - General	Gat No. 139/1 and 139/2, Umala, Jalgaon Maharashtra 425003	info@spectrum-india.com http://www.spectrum-india.com

Management
Name	Position Held
Mr. Deepak Suresh Chaudhari	Chairman & Managing Director
Mrs. Bharti Deepak Chaudhari	Whole Time Director
Mr. Devendra Sudhakar Rane	Executive Director
Mr. Sanjay Padmakar Pawde	Independent Director
Mr. Narendra Daulatrao Wagh	Independent Director
Mr. Kishor Dalu Dhake	Independent Director
Mr. Saurabh Shrikant Malpani	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹2719.12, which is 24.50% higher than the current market price of ₹2,184.00. The stock has a market capitalization of 3,409 Cr. and recorded a high/low of 2,520/1,060 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹163 Cr and total liabilities of ₹320 Cr.

What is the Market Cap of ?

The Market Cap of is 3,409 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 2,184.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 2,520/1,060.

What is the Stock P/E of ?

The Stock P/E of is 160.

What is the Book Value of ?

The Book Value of is 114.

What is the Dividend Yield of ?

The Dividend Yield of is 0.05 %.

What is the ROCE of ?

The ROCE of is 16.5 %.

What is the ROE of ?

The ROE of is 14.9 %.

What is the Face Value of ?

The Face Value of is 10.0.

Share Price and Basic Stock Data

Stock P/E, Current Price, and Intrinsic Value Over Time

Competitors of

Quarterly Result

Quarterly Chart

Profit & Loss - Annual Report

Profit & Loss Yearly Chart

YoY Net Profit Growth

Growth

Balance Sheet

Reserves and Borrowings Chart

Cash Flow

Free Cash Flow

Free Cash Flow Chart

Financial Efficiency Indicators

Financial Efficiency Indicators Chart

Share Holding Pattern

Shareholding Pattern Chart

No. of Shareholders

ROCE Trend

EPS Trend

Key Financial Ratios

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Strength and Weakness

About the Company - Qualitative Analysis

FAQ

What is the latest intrinsic value of ?

What is the Market Cap of ?

What is the current Stock Price of as on 22 December 2024?

What is the High / Low of stocks in FY 2024-2025?

What is the Stock P/E of ?

What is the Book Value of ?

What is the Dividend Yield of ?

What is the ROCE of ?

What is the ROE of ?

What is the Face Value of ?

About the Author

Getaka