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Last Updated: April 2, 2026, 3:42 am
Author: Getaka|Social: XLinkedIn

SPML Infra Ltd – a Multi-sector Infrastructure Player: Intrinsic Value & Share Price Analysis

Fair Value

₹149.32Overvalued by 11.64%vs CMP ₹169.00

P/E (22.4) × ROE (7.8%) × BV (₹105.00) × DY (2.00%)

₹170.61Fairly Valued by 0.95%vs CMP ₹169.00
MoS: +0.9% (Thin)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹376.2827%Under (+122.7%)
Graham NumberEarnings₹138.5916%Over (-18%)
DCFCash Flow₹141.9213%Over (-16%)
Net Asset ValueAssets₹101.659%Over (-39.9%)
EV/EBITDAEnterprise₹22.4111%Over (-86.7%)
Earnings YieldEarnings₹81.309%Over (-51.9%)
ROCE CapitalReturns₹65.869%Over (-61%)
Revenue MultipleRevenue₹48.807%Over (-71.1%)
Consensus (8 models)₹170.61100%Fairly Valued
Key Drivers: EPS CAGR 152.0% lifts DCF — verify sustainability. | Wide model spread (₹22–₹376) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 152.0%

*Investments are subject to market risks

Investment Snapshot

55
SPML Infra Ltd - a Multi-sector Infrastructure Player scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 8.9% AverageROE 7.8% AverageD/E 6.92 High debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money60/100 · Moderate
FII holding stable No changePromoter increased by 1.75% Positive
Earnings Quality55/100 · Moderate
OPM expanding (1% → 4%) ImprovingWorking capital: 131 days Capital intensive
Quarterly Momentum65/100 · Strong
Revenue (4Q): -27% YoY DecliningProfit (4Q): +84% YoY StrongOPM: 11.0% (up 6.0% YoY) Margin expansion
Industry Rank70/100 · Strong
P/E 22.4 vs industry 32.2 Cheaper than peersROCE 8.9% vs industry 6.5% Above peers3Y sales CAGR: -7% 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.

SPML Infra Ltd - a Multi-sector Infrastructure Player Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 22.4 vs Ind 32.2 | ROCE 8.9% | ROE 7.8% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 6.92x | IntCov 0.0x | Current 1.05x | Borrow/Reserve 0.45x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹48 Cr | CFO/NP N/A
Ownership Accumulation
+25
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.09 pp | DII -0.13 pp | Prom +1.75 pp
Business Momentum
+81
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +21.1% | Q NP +33.3% | Q OPM +5.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+1.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.45xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.09 ppLatest FII% minus previous FII%
DII Change-0.13 ppLatest DII% minus previous DII%
Promoter Change+1.75 ppLatest promoter% minus previous promoter%
Shareholder Count Change+2,402Latest shareholder count minus previous count
Quarterly Sales Change+21.1%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+33.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+5.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:42 am

Market Cap 1,335 Cr.
Current Price 169
Intrinsic Value₹170.61
High / Low 323/151
Stock P/E22.4
Book Value 105
Dividend Yield0.00 %
ROCE8.91 %
ROE7.78 %
Face Value 2.00
PEG Ratio0.15

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

View Share Price Target for SPML Infra Ltd - a Multi-sector Infrastructure Player

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
SPML Infra Ltd – a Multi-sector Infrastructure Player 1,335 Cr. 169 323/15122.4 1050.00 %8.91 %7.78 % 2.00
Simplex Infrastructures Ltd 1,257 Cr. 159 344/13623.5 1180.00 %0.05 %4.40 % 2.00
Supreme Infrastructure India Ltd 589 Cr. 60.9 133/56.5 35.50.00 %%% 10.0
RPP Infra Projects Ltd 310 Cr. 62.5 179/54.88.31 1120.80 %20.1 %13.9 % 10.0
Parsvnath Developers Ltd 265 Cr. 6.09 27.5/5.94 51.80.00 %0.98 %% 5.00
Industry Average5,206.31 Cr157.2632.18102.960.06%6.53%9.16%7.10

All Competitor Stocks of SPML Infra Ltd – a Multi-sector Infrastructure Player

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 153464352254252461207189188189156190230
Expenses 155420353254256444195176178179149179205
Operating Profit -244-10-4181213101071125
OPM % -1%9%-0%0%-1%4%6%7%5%5%5%6%11%
Other Income 385392915124121781
Interest 43722350109110905
Depreciation 1111110000001
Profit before tax -414112-416161213151920
Tax % 33%6%18%68%40%-7%19%17%18%4%19%21%0%
Net Profit -514001-413131012121520
EPS in Rs -1.243.010.090.070.23-1.812.182.201.401.681.692.102.66

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

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,5021,8242,0352,2762,0492,0121,7066839528831,319771765
Expenses 1,4031,6721,8332,1001,8331,8431,6306909578541,301728711
Operating Profit 10015220217621716976-7-629184353
OPM % 7%8%10%8%11%8%4%-1%-1%3%1%6%7%
Other Income 898353997368112-433028415439
Interest 168198225260214161157672250573925
Depreciation 27242721171111643211
Profit before tax -6133-6606521-122-13-05767
Tax % 28%69%361%-100%19%38%71%-4%-89%88%600%15%
Net Profit -122-11-450407-117-00-24860
EPS in Rs -3.410.26-1.63-2.3313.7510.841.80-31.980.080.09-1.426.708.13
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222024-2025
YoY Net Profit Growth (%)116.67%-650.00%63.64%1350.00%-20.00%-82.50%-1771.43%100.00%2500.00%
Change in YoY Net Profit Growth (%)0.00%-766.67%713.64%1286.36%-1370.00%-62.50%-1688.93%1871.43%2400.00%

SPML Infra Ltd - a Multi-sector Infrastructure Player has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-8%
5 Years:-15%
3 Years:-7%
TTM:-39%
Compounded Profit Growth
10 Years:37%
5 Years:49%
3 Years:431%
TTM:1108%
Stock Price CAGR
10 Years:15%
5 Years:94%
3 Years:89%
1 Year:13%
Return on Equity
10 Years:3%
5 Years:2%
3 Years:3%
Last Year:8%

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

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 88888888910111515
Reserves 450464460372457412376254277315450755788
Borrowings 1,0198421,2061,2361,4061,4461,5281,8441,8461,771549369351
Other Liabilities 1,1111,3891,5801,3821,4961,6301,086615673696883828872
Total Liabilities 2,5882,7033,2532,9983,3673,4962,9982,7202,8052,7931,8921,9672,026
Fixed Assets 20831964330830329112211713312942631
CWIP 4428796544846565656560038
Investments 133180142194152172119706559383939
Other Assets 1,8052,1162,3722,4422,8632,9862,7012,4782,5512,5491,8121,9221,918
Total Assets 2,5882,7033,2532,9983,3673,4962,9982,7202,8052,7931,8921,9672,026

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -111258295-161234178-3-302-1920594-84
Cash from Investing Activity + -165-69998978325991364623-90
Cash from Financing Activity + 263-182-39069-330-168-273231-16-87-41076
Net Cash Flow -1474-3-1812-17191-21208-99
Free Cash Flow -245240303-160229148157-300-1630561-85
CFO/OP -126%189%153%-85%99%147%4%4,517%394%125%3,137%-207%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow99.00-690.00201.00175.00216.00168.0075.00-8.00-7.0028.00-531.00-326.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 100141166104116123100651468190112187
Inventory Days 21132320271920155153549136287
Days Payable 2372313462503302682008427152,5811,3582,735
Cash Conversion Cycle -116-77-156-125-188-126-80-36-94-1,842-1,110-2,261
Working Capital Days -107-76-40-85-3-14515342527131
ROCE %11%14%15%15%15%11%9%3%1%3%4%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters 39.35%39.35%39.35%39.35%35.93%35.93%34.80%35.21%35.12%35.12%37.79%39.54%
FIIs 0.00%0.00%0.00%0.41%0.59%0.97%0.76%0.70%0.34%0.27%0.15%0.24%
DIIs 2.34%2.34%2.34%2.34%1.93%1.93%1.72%1.70%1.76%1.98%1.79%1.66%
Public 58.32%58.31%58.31%57.92%61.55%61.17%62.72%62.37%62.79%62.64%60.28%58.54%
No. of Shareholders 11,44510,5119,6199,50610,36513,34714,08114,21415,78420,78820,59022,992

Shareholding Pattern Chart

No. of Shareholders

SPML Infra Ltd – a Multi-sector Infrastructure Player: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 7.61-1.420.070.09-31.98
Diluted EPS (Rs.) 6.36-1.380.070.09-31.98
Cash EPS (Rs.) 6.35-0.010.700.73-26.30
Book Value[Excl.RevalReserv]/Share (Rs.) 101.5767.4666.5966.8667.69
Book Value[Incl.RevalReserv]/Share (Rs.) 101.5767.4666.5966.8667.69
Revenue From Operations / Share (Rs.) 101.64247.46177.53217.56166.66
PBDIT / Share (Rs.) 12.6810.5611.337.9914.99
PBIT / Share (Rs.) 12.5610.1210.687.0713.64
PBT / Share (Rs.) 7.36-0.190.58-0.44-2.71
Net Profit / Share (Rs.) 6.23-0.450.06-0.18-27.66
NP After MI And SOA / Share (Rs.) 6.32-1.310.070.07-28.61
PBDIT Margin (%) 12.474.266.373.678.99
PBIT Margin (%) 12.364.086.013.258.18
PBT Margin (%) 7.24-0.070.32-0.20-1.62
Net Profit Margin (%) 6.13-0.180.03-0.08-16.59
NP After MI And SOA Margin (%) 6.22-0.520.040.03-17.16
Return on Networth / Equity (%) 6.22-1.950.120.11-44.72
Return on Capital Employeed (%) 6.894.494.512.735.41
Return On Assets (%) 2.43-0.360.010.01-4.30
Long Term Debt / Equity (X) 0.430.851.962.322.48
Total Debt / Equity (X) 0.471.545.406.346.92
Asset Turnover Ratio (%) 0.390.560.310.320.22
Current Ratio (X) 1.831.501.051.081.05
Quick Ratio (X) 1.741.440.991.021.01
Inventory Turnover Ratio (X) 17.631.550.679.182.54
Interest Coverage Ratio (X) 2.440.981.121.060.91
Interest Coverage Ratio (Post Tax) (X) 2.200.921.010.970.90
Enterprise Value (Cr.) 1363.781006.591839.342060.881809.15
EV / Net Operating Revenue (X) 1.770.762.082.172.65
EV / EBITDA (X) 14.1817.8832.6558.9529.45
MarketCap / Net Operating Revenue (X) 1.560.520.090.260.05
Price / BV (X) 1.561.930.260.870.15
Price / Net Operating Revenue (X) 1.560.520.090.260.05
EarningsYield 0.03-0.010.000.00-2.91

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

SPML Infra Ltd. is a Public Limited Listed company incorporated on 27/08/1981 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L40106DL1981PLC012228 and registration number is 012228. Currently Company is involved in the business activities of Water collection, treatment and supply. Company's Total Operating Revenue is Rs. 770.64 Cr. and Equity Capital is Rs. 15.16 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringF-27/2, Okhla Industrial Area, Phase-II, New Delhi Delhi 110020Contact not found
Management
NamePosition Held
Mr. Subhash Chand SethiChairman & Wholetime Director
Mr. Sushil Kumar SethiVice Chairman & Non Exe.Dire
Mr. Manoj Kumar DiggaExecutive Director & CFO
Mr. Tirudaimarudhur Srivastan SivashankaIndependent Director
Mr. Mahendra Pal SinghIndependent Director
Ms. Arundhuti DharIndependent Director
Mrs. Neeta KarmakarIndependent Director

FAQ

What is the intrinsic value of SPML Infra Ltd - a Multi-sector Infrastructure Player and is it undervalued?

As of 05 April 2026, SPML Infra Ltd - a Multi-sector Infrastructure Player's intrinsic value is ₹170.61, which is 0.95% higher than the current market price of ₹169.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (7.78 %), book value (₹105), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of SPML Infra Ltd - a Multi-sector Infrastructure Player?

SPML Infra Ltd - a Multi-sector Infrastructure Player is trading at ₹169.00 as of 05 April 2026, with a FY2026-2027 high of ₹323 and low of ₹151. The stock is currently near its 52-week low. Market cap stands at ₹1,335 Cr..

How does SPML Infra Ltd - a Multi-sector Infrastructure Player's P/E ratio compare to its industry?

SPML Infra Ltd - a Multi-sector Infrastructure Player has a P/E ratio of 22.4, which is below the industry average of 32.18. This is broadly in line with or below the industry average.

Is SPML Infra Ltd - a Multi-sector Infrastructure Player financially healthy?

Key indicators for SPML Infra Ltd - a Multi-sector Infrastructure Player: ROCE of 8.91 % is on the lower side compared to the industry average of 6.53%; ROE of 7.78 % is below ideal levels (industry average: 9.16%). Dividend yield is 0.00 %.

Is SPML Infra Ltd - a Multi-sector Infrastructure Player profitable and how is the profit trend?

SPML Infra Ltd - a Multi-sector Infrastructure Player reported a net profit of ₹48 Cr in Mar 2025 on revenue of ₹771 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows an improving trend.

Does SPML Infra Ltd - a Multi-sector Infrastructure Player pay dividends?

SPML Infra Ltd - a Multi-sector Infrastructure Player has a dividend yield of 0.00 % at the current price of ₹169.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in SPML Infra Ltd - a Multi-sector Infrastructure Player. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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