SPL Industries Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of SPL Industries Ltd and is it undervalued?

As of 05 May 2026, SPL Industries Ltd's intrinsic value is 38.75, which is 10.71% higher than the current market price of 35.00, suggesting the stock is undervalued. Calculated using the PE ratio method factoring in ROE (2.86 %), book value (72.3), dividend yield (0.00 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of SPL Industries Ltd?

SPL Industries Ltd is trading at 35.00 as of 05 May 2026, with a FY2026-2027 high of 46.5 and low of 20.2. The stock is currently in the middle of its 52-week range. Market cap stands at 99.1 Cr..

Q: Is SPL Industries Ltd financially healthy?

Key indicators: ROCE of 4.55 % is on the lower side. Dividend yield is 0.00 %.

Q: Is SPL Industries Ltd profitable and how is the profit trend?

SPL Industries Ltd reported a net profit of 10 Cr in Mar 2025 on revenue of 139 Cr. Compared to 21 Cr in Mar 2022, the net profit shows a declining trend.

Fair Value

₹27.67Overvalued by 20.94%vs CMP ₹35.00

P/E (16.4) × ROE (2.9%) × BV (₹72.30) × DY (2.00%)

₹38.75Undervalued by 10.71%vs CMP ₹35.00

MoS: +9.7% (Thin)Confidence: 48/100 (Moderate)Models: 5 Under, 4 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹21.52	23%	Over (-38.5%)
Graham Number	Earnings	₹58.03	16%	Under (+65.8%)
Earnings Power	Earnings	₹39.55	11%	Under (+13%)
DCF	Cash Flow	₹21.00	14%	Over (-40%)
Net Asset Value	Assets	₹74.05	7%	Under (+111.6%)
EV/EBITDA	Enterprise	₹19.52	9%	Over (-44.2%)
Earnings Yield	Earnings	₹20.70	7%	Over (-40.9%)
ROCE Capital	Returns	₹80.28	7%	Under (+129.4%)
Revenue Multiple	Revenue	₹49.24	5%	Under (+40.7%)
Consensus (9 models)		₹38.75	100%	Undervalued

Key Drivers: EPS CAGR -22.2% drags value — could be higher if earnings stabilize. | ROE 2.9% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -22.2%

*Investments are subject to market risks

Analyst Summary

SPL Industries Ltd operates in the Textiles - Readymade Apparels segment, NSE: SPLIL | BSE: 532651, current market price is ₹35.00, market cap is 99.1 Cr.. At a glance, stock P/E is 16.4, ROE is 2.86 %, ROCE is 4.55 %, book value is 72.3, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹38.75, which is about 10.7% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹139 Cr versus the prior period change of -30.0%, while latest net profit is about ₹10 Cr with a prior-period change of -16.7%. The 52-week range shown on this page is 46.5/20.2, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisSPL Industries Ltd. is a Public Limited Listed company incorporated on 06/12/1991 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL…

This summary is generated from the stock page data available for SPL Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

SPL Industries Ltd scores 41/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health58/100 · Moderate

ROCE 4.6% WeakROE 2.9% WeakD/E 0.03 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 74.9% Stable

Earnings Quality40/100 · Moderate

OPM contracting (10% → 4%) Declining

Quarterly Momentum15/100 · Weak

Revenue (4Q): -57% YoY DecliningProfit (4Q): -46% YoY DecliningOPM: -28.2% (down 26.1% YoY) Margin pressure

Industry Rank35/100 · Weak

P/E 16.4 vs industry 35.5 Cheaper than peersROCE 4.6% vs industry 11.4% Below peersROE 2.9% vs industry 15.7% Below peers3Y sales CAGR: -11% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 1:04 am

Market Cap	99.1 Cr.
Current Price	35.0
Intrinsic Value	₹38.75
High / Low	46.5/20.2
Stock P/E	16.4
Book Value	72.3
Dividend Yield	0.00 %
ROCE	4.55 %
ROE	2.86 %
Face Value	10.0
PEG Ratio	-0.74

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for SPL Industries Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
SPL Industries Ltd	99.1 Cr.	35.0	46.5/20.2	16.4	72.3	0.00 %	4.55 %	2.86 %	10.0
Globe Textiles (India) Ltd	112 Cr.	2.48	3.29/1.86	17.3	3.51	0.00 %	9.24 %	4.67 %	2.00
Lovable Lingerie Ltd	109 Cr.	74.3	110/54.8	15.4	115	0.00 %	3.58 %	0.79 %	10.0
Bella Casa Fashion & Retail Ltd	351 Cr.	265	525/220	17.6	118	0.76 %	17.2 %	13.5 %	10.0
SP Apparels Ltd (SPAL)	2,034 Cr.	806	990/585	17.9	358	0.25 %	14.2 %	11.7 %	10.0
Industry Average	4,207.14 Cr	1,375.38		35.52	143.32	0.26%	11.36%	15.66%	7.21

All Competitor Stocks of SPL Industries Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	60.70	55.18	57.58	41.82	31.23	68.62	42.47	39.49	26.74	30.72	16.64	14.97	14.65
Expenses	55.50	50.26	53.63	40.19	30.58	64.90	40.54	37.59	27.30	30.11	18.28	17.32	18.78
Operating Profit	5.20	4.92	3.95	1.63	0.65	3.72	1.93	1.90	-0.56	0.61	-1.64	-2.35	-4.13
OPM %	8.57%	8.92%	6.86%	3.90%	2.08%	5.42%	4.54%	4.81%	-2.09%	1.99%	-9.86%	-15.70%	-28.19%
Other Income	2.59	1.59	2.46	2.86	2.80	3.56	3.12	3.49	3.00	4.16	3.72	3.13	6.61
Interest	0.32	1.40	1.04	0.57	0.30	0.51	0.54	0.62	0.23	0.28	0.17	0.17	1.22
Depreciation	0.71	0.82	0.73	0.76	0.77	0.85	0.75	0.76	0.76	0.76	0.67	0.68	0.77
Profit before tax	6.76	4.29	4.64	3.16	2.38	5.92	3.76	4.01	1.45	3.73	1.24	-0.07	0.49
Tax %	27.66%	20.98%	28.02%	26.90%	22.27%	28.21%	31.38%	1.25%	78.62%	21.18%	26.61%	171.43%	-387.76%
Net Profit	4.90	3.39	3.34	2.31	1.86	4.25	2.58	3.97	0.30	2.94	0.91	-0.20	2.38
EPS in Rs	1.69	1.17	1.15	0.80	0.64	1.47	0.89	1.37	0.10	1.01	0.31	-0.07	0.82

Last Updated: March 3, 2026, 2:36 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	45.53	59.59	148.35	150.63	172.75	156.75	176.99	110.09	197.86	284.65	199.15	139.41	76.98
Expenses	38.70	55.47	136.48	148.36	165.66	127.23	150.17	94.10	175.79	260.53	189.20	135.53	84.49
Operating Profit	6.83	4.12	11.87	2.27	7.09	29.52	26.82	15.99	22.07	24.12	9.95	3.88	-7.51
OPM %	15.00%	6.91%	8.00%	1.51%	4.10%	18.83%	15.15%	14.52%	11.15%	8.47%	5.00%	2.78%	-9.76%
Other Income	-0.25	0.46	1.36	4.90	3.93	2.44	7.92	5.43	9.74	12.84	11.68	13.77	17.62
Interest	0.12	0.11	1.22	2.73	1.73	0.95	1.32	0.70	0.75	2.12	2.42	1.67	1.84
Depreciation	3.42	3.95	3.17	2.99	3.90	3.84	3.15	2.77	2.41	2.78	3.13	3.03	2.88
Profit before tax	3.04	0.52	8.84	1.45	5.39	27.17	30.27	17.95	28.65	32.06	16.08	12.95	5.39
Tax %	9.87%	0.00%	0.11%	0.00%	0.00%	0.00%	-3.30%	24.46%	26.42%	25.64%	26.99%	24.40%
Net Profit	2.74	0.52	8.83	1.45	5.39	27.17	31.27	13.55	21.08	23.84	11.75	9.79	6.03
EPS in Rs	0.94	0.18	3.04	0.50	1.86	9.37	10.78	4.67	7.27	8.22	4.05	3.38	2.07
Dividend Payout %	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 Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-81.02%	1598.08%	-83.58%	271.72%	404.08%	15.09%	-56.67%	55.57%	13.09%	-50.71%	-16.68%
Change in YoY Net Profit Growth (%)	0.00%	1679.10%	-1681.66%	355.30%	132.36%	-388.99%	-71.76%	112.24%	-42.48%	-63.81%	34.03%

SPL Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	9%
5 Years:	-5%
3 Years:	-11%
TTM:	-38%

Compounded Profit Growth
10 Years:	33%
5 Years:	-21%
3 Years:	-23%
TTM:	-26%

Stock Price CAGR
10 Years:	10%
5 Years:	6%
3 Years:	-16%
1 Year:	-36%

Return on Equity
10 Years:	12%
5 Years:	9%
3 Years:	7%
Last Year:	5%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: January 7, 2026, 4:26 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00	29.00
Reserves	25.18	25.73	34.56	35.94	41.46	68.62	99.91	113.47	134.47	158.45	170.17	179.95	180.66
Borrowings	0.01	5.32	18.32	14.93	2.45	2.46	4.00	4.45	4.93	10.66	0.00	0.00	0.00
Other Liabilities	8.86	17.08	17.39	43.55	27.09	22.25	9.58	4.95	41.77	10.99	8.99	13.18	13.40
Total Liabilities	63.05	77.13	99.27	123.42	100.00	122.33	142.49	151.87	210.17	209.10	208.16	222.13	223.06
Fixed Assets	52.06	48.58	46.95	52.23	54.84	51.60	49.09	46.49	46.59	48.70	59.72	57.22	56.88
CWIP	0.00	0.00	0.00	2.43	0.56	0.85	0.00	0.25	2.54	11.28	0.00	0.00	1.22
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.03	45.52	57.52	105.59	115.94
Other Assets	10.99	28.55	52.32	68.76	44.60	69.88	93.40	105.13	151.01	103.60	90.92	59.32	49.02
Total Assets	63.05	77.13	99.27	123.42	100.00	122.33	142.49	151.87	210.17	209.10	208.16	222.13	223.06

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	3.07	-3.89	-8.96	19.20	15.83	15.87	28.18	29.78	8.08	14.00	7.15	20.70
Cash from Investing Activity +	-0.43	-0.41	-1.81	-14.02	-0.34	-14.12	-27.93	-28.91	-4.33	-25.79	3.75	-20.81
Cash from Financing Activity +	-3.22	5.21	11.78	-6.11	-14.13	-0.92	0.22	-0.23	-0.22	4.78	-10.74	-0.11
Net Cash Flow	-0.58	0.91	1.01	-0.93	1.37	0.83	0.47	0.64	3.53	-7.01	0.16	-0.22
Free Cash Flow	2.63	-4.32	-10.51	8.50	11.37	13.66	27.25	29.12	2.99	0.36	4.29	20.16
CFO/OP	49%	-94%	-75%	846%	223%	54%	105%	204%	68%	93%	123%	537%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	6.82	-1.20	-6.45	-12.66	4.64	27.06	22.82	11.54	17.14	13.46	9.95	3.88

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 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	19	96	77	80	63	90	65	38	90	38	65	60
Inventory Days	84	74	47	103	7	13	7	10	7	6	4	4
Days Payable	106	151	40	189	83	79	25	12	105	9	9	12
Cash Conversion Cycle	-3	19	84	-6	-13	25	48	36	-7	35	59	53
Working Capital Days	15	30	35	11	19	55	53	24	33	26	63	60
ROCE %	7%	1%	14%	5%	9%	33%	27%	14%	19%	19%	7%	5%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	68.93%	68.93%	68.93%	68.93%	68.93%	68.93%	68.93%	68.93%	68.93%	74.97%	74.97%	74.88%
FIIs	0.28%	0.28%	0.25%	0.22%	0.18%	0.14%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%
Government	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%
Public	30.46%	30.46%	30.51%	30.53%	30.57%	30.61%	30.61%	30.61%	30.62%	24.58%	24.58%	24.67%
No. of Shareholders	15,470	15,470	15,385	16,152	15,565	15,335	15,231	14,896	14,764	14,517	14,396	14,157

Shareholding Pattern Chart

No. of Shareholders

SPL Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	3.38	4.05	8.22	7.27	4.67
Diluted EPS (Rs.)	3.38	4.05	8.22	7.27	4.67
Cash EPS (Rs.)	4.42	5.13	9.18	8.10	5.63
Book Value[Excl.RevalReserv]/Share (Rs.)	63.37	59.95	55.87	47.55	40.26
Book Value[Incl.RevalReserv]/Share (Rs.)	72.05	68.68	64.64	56.37	49.13
Revenue From Operations / Share (Rs.)	48.08	68.71	98.16	68.23	37.96
PBDIT / Share (Rs.)	6.09	7.46	13.04	10.97	7.38
PBIT / Share (Rs.)	5.04	6.38	12.08	10.14	6.43
PBT / Share (Rs.)	4.47	5.55	11.35	9.88	6.19
Net Profit / Share (Rs.)	3.38	4.05	8.22	7.27	4.67
PBDIT Margin (%)	12.66	10.86	13.28	16.07	19.45
PBIT Margin (%)	10.49	9.29	12.30	14.86	16.93
PBT Margin (%)	9.29	8.07	11.56	14.48	16.29
Net Profit Margin (%)	7.02	5.89	8.37	10.65	12.31
Return on Networth / Equity (%)	5.32	6.75	14.71	15.28	11.60
Return on Capital Employeed (%)	6.90	9.25	18.62	17.90	13.01
Return On Assets (%)	4.40	5.64	11.39	10.03	8.92
Total Debt / Equity (X)	0.00	0.00	0.06	0.03	0.03
Asset Turnover Ratio (%)	0.64	0.95	1.36	1.09	0.74
Current Ratio (X)	10.22	8.58	3.69	2.94	11.44
Quick Ratio (X)	10.11	8.41	3.53	2.88	11.24
Inventory Turnover Ratio (X)	113.03	3.06	3.24	5.28	3.85
Interest Coverage Ratio (X)	10.55	8.93	17.82	42.34	30.59
Interest Coverage Ratio (Post Tax) (X)	6.85	5.85	12.64	29.06	20.35
Enterprise Value (Cr.)	78.46	126.31	143.15	132.10	18.48
EV / Net Operating Revenue (X)	0.56	0.63	0.50	0.66	0.16
EV / EBITDA (X)	4.44	5.84	3.78	4.15	0.86
MarketCap / Net Operating Revenue (X)	0.68	0.77	0.59	0.95	0.87
Price / BV (X)	0.52	0.88	1.04	1.37	0.82
Price / Net Operating Revenue (X)	0.68	0.77	0.59	0.95	0.87
EarningsYield	0.10	0.07	0.14	0.11	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

SPL Industries Ltd. is a Public Limited Listed company incorporated on 06/12/1991 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1991PLC062744 and registration number is 062744. Currently Company is involved in the business activities of Wholesale of textiles, fabrics, yarn, household linen, articles of clothing, floor coverings and tapestry, sports clothes. Company's Total Operating Revenue is Rs. 139.42 Cr. and Equity Capital is Rs. 29.00 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Textiles - Readymade Apparels	Office No.202, IInd Floor, Vikramaditya Tower, New Delhi Delhi 110019	Contact not found

Management
Name	Position Held
Mr. Mukesh Kumar Aggarwal	Managing Director
Mrs. Shashi Agarwal	Whole Time Director
Mr. Vijay Kumar Jindal	Director
Mr. Sudeeta Ranjan Rout	Independent Director
Mr. Varun Bansal	Independent Director
Mr. Vikash Jalan	Independent Director

FAQ

What is the intrinsic value of SPL Industries Ltd and is it undervalued?

As of 05 May 2026, SPL Industries Ltd's intrinsic value is ₹38.75, which is 10.71% higher than the current market price of ₹35.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (2.86 %), book value (₹72.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of SPL Industries Ltd?

SPL Industries Ltd is trading at ₹35.00 as of 05 May 2026, with a FY2026-2027 high of ₹46.5 and low of ₹20.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹99.1 Cr..

How does SPL Industries Ltd's P/E ratio compare to its industry?

SPL Industries Ltd has a P/E ratio of 16.4, which is below the industry average of 35.52. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is SPL Industries Ltd financially healthy?

Key indicators for SPL Industries Ltd: ROCE of 4.55 % is on the lower side compared to the industry average of 11.36%; ROE of 2.86 % is below ideal levels (industry average: 15.66%). Dividend yield is 0.00 %.

Is SPL Industries Ltd profitable and how is the profit trend?

SPL Industries Ltd reported a net profit of ₹10 Cr in Mar 2025 on revenue of ₹139 Cr. Compared to ₹21 Cr in Mar 2022, the net profit shows a declining trend.

Does SPL Industries Ltd pay dividends?

SPL Industries Ltd has a dividend yield of 0.00 % at the current price of ₹35.00. The company is currently not paying meaningful dividends.