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

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

Key indicators: ROCE of 8.91 % is on the lower side. Dividend yield is 0.00 %.

Fair Value

₹200.64Fairly Valued by 5.80%vs CMP ₹213.00

P/E (30.1) × ROE (7.8%) × BV (₹105.00) × DY (2.00%)

₹203.44Fairly Valued by 4.49%vs CMP ₹213.00

MoS: -4.7% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹505.62	27%	Under (+137.4%)
Graham Number	Earnings	₹138.59	16%	Over (-34.9%)
DCF	Cash Flow	₹133.40	13%	Over (-37.4%)
Net Asset Value	Assets	₹95.55	9%	Over (-55.1%)
EV/EBITDA	Enterprise	₹21.06	11%	Over (-90.1%)
Earnings Yield	Earnings	₹81.30	9%	Over (-61.8%)
ROCE Capital	Returns	₹61.91	9%	Over (-70.9%)
Revenue Multiple	Revenue	₹45.87	7%	Over (-78.5%)
Consensus (8 models)		₹203.44	100%	Fairly Valued

Key Drivers: EPS CAGR 152.0% lifts DCF — verify sustainability. | Wide model spread (₹21–₹506) — 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

Analyst Summary

SPML Infra Ltd - a Multi-sector Infrastructure Player operates in the Construction & Contracting segment, current market price is ₹213.00, market cap is 1,790 Cr.. At a glance, stock P/E is 30.1, ROE is 7.78 %, ROCE is 8.91 %, book value is 105, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹203.44, which is broadly in line with the current market price. On operating trend, latest reported sales are about ₹771 Cr versus the prior period change of -41.5%, while latest net profit is about ₹48 Cr with a prior-period change of 2,500.0%. The 52-week range shown on this page is 323/151, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisSPML 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 L40106DL1981…

This summary is generated from the stock page data available for SPML Infra Ltd – a Multi-sector Infrastructure Player: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

SPML Infra Ltd - a Multi-sector Infrastructure Player scores 52/100 (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 Rank55/100 · Moderate

P/E 30.1 vs industry 38.8 In-lineROCE 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.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 12:13 am

Market Cap	1,790 Cr.
Current Price	213
Intrinsic Value	₹203.44
High / Low	323/151
Stock P/E	30.1
Book Value	105
Dividend Yield	0.00 %
ROCE	8.91 %
ROE	7.78 %
Face Value	2.00
PEG Ratio	0.20

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

Stock P/E Current Price Intrinsic Value

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	1,790 Cr.	213	323/151	30.1	105	0.00 %	8.91 %	7.78 %	2.00
Simplex Infrastructures Ltd	1,707 Cr.	216	330/136	31.9	118	0.00 %	0.05 %	4.40 %	2.00
Supreme Infrastructure India Ltd	773 Cr.	79.3	133/56.5		35.5	0.00 %	%	%	10.0
PSP Projects Ltd	2,890 Cr.	729	1,031/569	80.1	309	0.00 %	8.70 %	5.40 %	10.0
RPP Infra Projects Ltd	396 Cr.	79.8	178/54.8	10.6	112	0.63 %	20.1 %	13.9 %	10.0
Industry Average	6,280.85 Cr	186.79		38.81	102.94	0.05%	6.51%	9.08%	7.10

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

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	153	464	352	254	252	461	207	189	188	189	156	190	230
Expenses	155	420	353	254	256	444	195	176	178	179	149	179	205
Operating Profit	-2	44	-1	0	-4	18	12	13	10	10	7	11	25
OPM %	-1%	9%	-0%	0%	-1%	4%	6%	7%	5%	5%	5%	6%	11%
Other Income	3	8	5	3	9	29	15	12	4	12	17	8	1
Interest	4	37	2	2	3	50	10	9	1	10	9	0	5
Depreciation	1	1	1	1	1	1	0	0	0	0	0	0	1
Profit before tax	-4	14	1	1	2	-4	16	16	12	13	15	19	20
Tax %	33%	6%	18%	68%	40%	-7%	19%	17%	18%	4%	19%	21%	0%
Net Profit	-5	14	0	0	1	-4	13	13	10	12	12	15	20
EPS in Rs	-1.24	3.01	0.09	0.07	0.23	-1.81	2.18	2.20	1.40	1.68	1.69	2.10	2.66

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	1,502	1,824	2,035	2,276	2,049	2,012	1,706	683	952	883	1,319	771	765
Expenses	1,403	1,672	1,833	2,100	1,833	1,843	1,630	690	957	854	1,301	728	711
Operating Profit	100	152	202	176	217	169	76	-7	-6	29	18	43	53
OPM %	7%	8%	10%	8%	11%	8%	4%	-1%	-1%	3%	1%	6%	7%
Other Income	89	83	53	99	73	68	112	-43	30	28	41	54	39
Interest	168	198	225	260	214	161	157	67	22	50	57	39	25
Depreciation	27	24	27	21	17	11	11	6	4	3	2	1	1
Profit before tax	-6	13	3	-6	60	65	21	-122	-1	3	-0	57	67
Tax %	28%	69%	361%	-100%	19%	38%	71%	-4%	-89%	88%	600%	15%
Net Profit	-12	2	-11	-4	50	40	7	-117	-0	0	-2	48	60
EPS in Rs	-3.41	0.26	-1.63	-2.33	13.75	10.84	1.80	-31.98	0.08	0.09	-1.42	6.70	8.13
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

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	2024-2025
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

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	8	8	8	8	8	8	8	8	9	10	11	15	15
Reserves	450	464	460	372	457	412	376	254	277	315	450	755	788
Borrowings	1,019	842	1,206	1,236	1,406	1,446	1,528	1,844	1,846	1,771	549	369	351
Other Liabilities	1,111	1,389	1,580	1,382	1,496	1,630	1,086	615	673	696	883	828	872
Total Liabilities	2,588	2,703	3,253	2,998	3,367	3,496	2,998	2,720	2,805	2,793	1,892	1,967	2,026
Fixed Assets	208	319	643	308	303	291	122	117	133	129	42	6	31
CWIP	442	87	96	54	48	46	56	56	56	56	0	0	38
Investments	133	180	142	194	152	172	119	70	65	59	38	39	39
Other Assets	1,805	2,116	2,372	2,442	2,863	2,986	2,701	2,478	2,551	2,549	1,812	1,922	1,918
Total Assets	2,588	2,703	3,253	2,998	3,367	3,496	2,998	2,720	2,805	2,793	1,892	1,967	2,026

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 +	-111	258	295	-161	234	178	-3	-302	-19	20	594	-84
Cash from Investing Activity +	-165	-69	99	89	78	3	259	91	36	46	23	-90
Cash from Financing Activity +	263	-182	-390	69	-330	-168	-273	231	-16	-87	-410	76
Net Cash Flow	-14	7	4	-3	-18	12	-17	19	1	-21	208	-99
Free Cash Flow	-245	240	303	-160	229	148	157	-300	-16	30	561	-85
CFO/OP	-126%	189%	153%	-85%	99%	147%	4%	4,517%	394%	125%	3,137%	-207%

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	99.00	-690.00	201.00	175.00	216.00	168.00	75.00	-8.00	-7.00	28.00	-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

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	100	141	166	104	116	123	100	651	468	190	112	187
Inventory Days	21	13	23	20	27	19	20	155	153	549	136	287
Days Payable	237	231	346	250	330	268	200	842	715	2,581	1,358	2,735
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	-14	5	15	34	25	27	131
ROCE %	11%	14%	15%	15%	15%	11%	9%	3%	1%	3%	4%	9%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 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	11,445	10,511	9,619	9,506	10,365	13,347	14,081	14,214	15,784	20,788	20,590	22,992

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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	7.61	-1.42	0.07	0.09	-31.98
Diluted EPS (Rs.)	6.36	-1.38	0.07	0.09	-31.98
Cash EPS (Rs.)	6.35	-0.01	0.70	0.73	-26.30
Book Value[Excl.RevalReserv]/Share (Rs.)	101.57	67.46	66.59	66.86	67.69
Book Value[Incl.RevalReserv]/Share (Rs.)	101.57	67.46	66.59	66.86	67.69
Revenue From Operations / Share (Rs.)	101.64	247.46	177.53	217.56	166.66
PBDIT / Share (Rs.)	12.68	10.56	11.33	7.99	14.99
PBIT / Share (Rs.)	12.56	10.12	10.68	7.07	13.64
PBT / Share (Rs.)	7.36	-0.19	0.58	-0.44	-2.71
Net Profit / Share (Rs.)	6.23	-0.45	0.06	-0.18	-27.66
NP After MI And SOA / Share (Rs.)	6.32	-1.31	0.07	0.07	-28.61
PBDIT Margin (%)	12.47	4.26	6.37	3.67	8.99
PBIT Margin (%)	12.36	4.08	6.01	3.25	8.18
PBT Margin (%)	7.24	-0.07	0.32	-0.20	-1.62
Net Profit Margin (%)	6.13	-0.18	0.03	-0.08	-16.59
NP After MI And SOA Margin (%)	6.22	-0.52	0.04	0.03	-17.16
Return on Networth / Equity (%)	6.22	-1.95	0.12	0.11	-44.72
Return on Capital Employeed (%)	6.89	4.49	4.51	2.73	5.41
Return On Assets (%)	2.43	-0.36	0.01	0.01	-4.30
Long Term Debt / Equity (X)	0.43	0.85	1.96	2.32	2.48
Total Debt / Equity (X)	0.47	1.54	5.40	6.34	6.92
Asset Turnover Ratio (%)	0.39	0.56	0.31	0.32	0.22
Current Ratio (X)	1.83	1.50	1.05	1.08	1.05
Quick Ratio (X)	1.74	1.44	0.99	1.02	1.01
Inventory Turnover Ratio (X)	17.63	1.55	0.67	9.18	2.54
Interest Coverage Ratio (X)	2.44	0.98	1.12	1.06	0.91
Interest Coverage Ratio (Post Tax) (X)	2.20	0.92	1.01	0.97	0.90
Enterprise Value (Cr.)	1363.78	1006.59	1839.34	2060.88	1809.15
EV / Net Operating Revenue (X)	1.77	0.76	2.08	2.17	2.65
EV / EBITDA (X)	14.18	17.88	32.65	58.95	29.45
MarketCap / Net Operating Revenue (X)	1.56	0.52	0.09	0.26	0.05
Price / BV (X)	1.56	1.93	0.26	0.87	0.15
Price / Net Operating Revenue (X)	1.56	0.52	0.09	0.26	0.05
EarningsYield	0.03	-0.01	0.00	0.00	-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.

INDUSTRY	ADDRESS	CONTACT
Construction, Contracting & Engineering	F-27/2, Okhla Industrial Area, Phase-II, New Delhi Delhi 110020	Contact not found

Management
Name	Position Held
Mr. Subhash Chand Sethi	Chairman & Wholetime Director
Mr. Sushil Kumar Sethi	Vice Chairman & Non Exe.Dire
Mr. Manoj Kumar Digga	Executive Director & CFO
Mr. Tirudaimarudhur Srivastan Sivashanka	Independent Director
Mr. Mahendra Pal Singh	Independent Director
Ms. Arundhuti Dhar	Independent Director
Mrs. Neeta Karmakar	Independent Director

FAQ

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

As of 27 April 2026, SPML Infra Ltd - a Multi-sector Infrastructure Player's intrinsic value is ₹203.44, which is 4.49% lower than the current market price of ₹213.00, suggesting the stock is overvalued. 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 ₹213.00 as of 27 April 2026, with a FY2026-2027 high of ₹323 and low of ₹151. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,790 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 30.1, which is below the industry average of 38.81. 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 6.51%; ROE of 7.78 % is below ideal levels (industry average: 9.08%). 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 ₹213.00. The company is currently not paying meaningful dividends.