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Span Divergent Ltd (524727)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524727 NSE: Chemicals | Small Cap | Span Divergent Share Price
₹26.75 -1.40 (-4.97%)
As on 28-Sep'26 09:50
Span Divergent Ltd (524727)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524727 NSE: Chemicals | Small Cap | Span Divergent Share Price
₹26.75 -1.40 (-4.97%)
As on 28-Sep'26 09:50
Key Metrics
Valuation Multiples
Market Cap
₹20 Cr.
Current Price
₹26.8
52-Week Low / High
₹22 / 51
TTM EPS
₹-4.3
TTM Sales
₹16.8 Cr.
Book Value per Share
₹18.8
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
48
Price to Book (P/B)
1.50
Higher than its 5-year historical median
Price to Sales (P/S)
1.22
EV/EBITDA
-9.54
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
-8.02%
Underperforms industry median
Return on Assets (ROA)
-5.47%
Operating Profit Margin
-4.8%
Net Profit Margin
-14.22%
Gross Profit Margin
-0.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-15.71%
Operating Profit Growth (1 Year)
-
-160.38%
Net Profit Growth (1 Year)
-
-262.82%
Asset Quality
Promoter Holding
48.13%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹6 Cr.
Equity
₹7.3 Cr.
Face Value
₹10
All Time Low / High
₹1.20 / 101.50
Check Before You Invest
M-Cap below 100cr DeciZen not available
Is Span Divergent Ltd a good quality company?
Span Divergent Ltd is a quality company, based on a multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Span Divergent Ltd performance compare with that of its Peers?
Revenue growth of Span Divergent Ltd vs industry peers?
Span Divergent Ltd revenue CAGR is -0.91%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Span Divergent Ltd?
Promoters hold 48.13% of the Span Divergent Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Span Divergent Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -7.5% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Span Divergent Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.7% | -1% | -3.6% | -5.6% | -0.6% | 0.1% | -19% | -9% | 4.3% | 2.7% | - |
| Value Creation Index ⓘ | -0.4 | -1.1 | -1.3 | -1.4 | -1.0 | -1.0 | -2.4 | -1.6 | -0.7 | -0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 0 | 2.4 | 1.7 | 1.7 | 1.7 | 1.5 | 2 | 2 | 1.9 | 1.6 | 0 |
| Sales YoY Gr. | - | NA | -28.9% | 1.8% | -1.2% | -14.6% | 34.3% | 0% | -2.6% | -15.7% | - |
| Adj EPS ⓘ | -3.5 | -5.1 | -7.5 | -3.9 | -1.1 | -0.1 | -3.1 | -1.1 | 1.4 | 0.9 | 0.4 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | -34.5% | - |
| BVPS (₹) ⓘ | 92.5 | 92.4 | 86.8 | 80.7 | 80.1 | 80.1 | 65.9 | 59.7 | 62.5 | 63.6 | 56.7 |
| Adj Net Profit ⓘ | -1.9 | -2.8 | -4.1 | -2.1 | -0.6 | -0 | -1.7 | -0.6 | 0.8 | 0.5 | 0 |
| Cash Flow from Ops. ⓘ | -4.1 | -0.9 | 2.4 | -1.1 | 1.1 | 0.4 | -0.3 | 0.6 | 0.5 | 1 | - |
| Debt/CF from Ops. ⓘ | 0 | -9.1 | 4 | -3.8 | 2.2 | 7.4 | -8.4 | 4.4 | 3.7 | 1.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | -1.2% | -6.4% | -15.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | -34.5% | ||||
| BVPSⓘ | -4.1% | -4.5% | -1.1% | 1.9% | ||||
| Share Price | -7.5% | 14.7% | 27.5% | -0.6% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -3.5 | -5.5 | -8.4 | -4.6 | -1.4 | -0.1 | -4.3 | -1.7 | 2.3 | 1.5 | 0.6 |
| Op. Profit Mgn % ⓘ | 0 | -175.9 | -252.9 | -71.8 | -17.4 | 4.8 | 23.2 | 25.5 | 11.5 | 1.5 | NAN |
| Net Profit Mgn % ⓘ | 0 | -116.4 | -242.5 | -121.9 | -35.2 | -2.5 | -87.1 | -30.1 | 39.7 | 31 | INF |
| Debt to Equity ⓘ | 0 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 0 | 1,291 | 1,027 | 289 | 532 | 721 | 308 | 275 | 290 | 270 | 0 |
| Cash Conv. Cycle ⓘ | 0 | -1 | 24 | 49 | 33 | 9 | -6 | 11 | 25 | 51 | 0 |
Valuation of Span Divergent - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 2.87 | 14.57 | 24.14 | 9.38 | 7.40 | 13.09 | 12.52 | 12.33 | 8.96 |
| Operating Expenses ⓘ + | 5.40 | 8.38 | 25.16 | 31.42 | 15.15 | 9.65 | 14.37 | 11.42 | 11.27 | 9.60 |
| Operating Profit ⓘ | -5.40 | -5.50 | -10.59 | -7.28 | -5.77 | -2.24 | -1.28 | 1.10 | 1.06 | -0.64 |
| Operating Profit Margin (%) | - | -191.0% | -72.7% | -30.1% | -61.6% | -30.3% | -9.8% | 8.8% | 8.6% | -7.1% |
| Other Income ⓘ + | 2.73 | 4.04 | 3.21 | 1.14 | 2.49 | 1.93 | 3.33 | 0.66 | 2.02 | 1.19 |
| Interest ⓘ | 0.03 | 0.20 | 1.70 | 1.89 | 1.99 | 1.58 | 1.08 | 1 | 0.72 | 0.60 |
| Depreciation ⓘ | 0.18 | 0.82 | 2.60 | 3.62 | 3.45 | 3.11 | 2.17 | 2.17 | 1.64 | 1.09 |
| Profit Before Tax ⓘ | 4.54 | -2.48 | -12.32 | -13.47 | -9.26 | -6.11 | -10.37 | -5.52 | 0.80 | -1.08 |
| Tax ⓘ | 1.26 | 0.13 | 0.18 | 0.58 | -0.65 | 0.05 | -0.22 | -0.10 | 0.02 | 0.19 |
| Profit After Tax | 3.28 | -2.61 | -12.50 | -14.06 | -8.61 | -6.16 | -10.15 | -5.42 | 0.78 | -1.27 |
| PAT Margin (%) | - | -90.9% | -85.8% | -58.2% | -91.8% | -83.2% | -77.6% | -43.3% | 6.3% | -14.2% |
| Adjusted EPS (₹) | 6.1 | -4.8 | -22.9 | -22.3 | -14.2 | -10.2 | -17.9 | -9.3 | 1.8 | -1.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 50.17 | 48.57 | 36.07 | 25.33 | 17.58 | 12.02 | 2.22 | -2.84 | -1.89 | -2.81 | |
| Debt + | 0.19 | 13.12 | 22.18 | 20.94 | 15.49 | 15.67 | 11.27 | 9.94 | 8.59 | 8.05 | |
| Minority Interest | 0 | 0.17 | 0.07 | -3.39 | -4.23 | -4.8 | -5.15 | -5.52 | -5.68 | -6.03 | |
| Trade Payables | 0.05 | 0.35 | 1.40 | 0.62 | 1.05 | 1.29 | 2.12 | 2.67 | 2.75 | 3.46 | |
| Others Liabilities ⓘ | 0.38 | 2.44 | 3.56 | 5.76 | 9.44 | 10.11 | 17.21 | 20.96 | 19.99 | 20.18 | |
| Total Liabilities ⓘ | 50.79 | 64.65 | 63.27 | 49.27 | 39.33 | 34.28 | 27.67 | 25.21 | 23.77 | 22.84 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 2.15 | 7.74 | 25.70 | 23.40 | 20.02 | 17.23 | 15 | 12.86 | 10.75 | 9.64 | |
| CWIP ⓘ | 0.06 | 10.95 | 0 | 0.06 | 0.13 | 0.02 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 35.55 | 29.23 | 26.86 | 17.32 | 10.75 | 9.43 | 4.03 | 3.95 | 4.69 | 6.30 | |
| Inventories | 0 | 1.36 | 3.55 | 2.60 | 1.11 | 0.62 | 1.78 | 1.61 | 1.18 | 1 | |
| Trade Receivables | 0.13 | 0.01 | 2.38 | 1.46 | 1.01 | 1.49 | 1.58 | 1.90 | 1.55 | 1.39 | |
| Cash Equivalents | 3.18 | 5.36 | 1.78 | 1.90 | 0.47 | 0.84 | 0.19 | 0.40 | 0.93 | 1.04 | |
| Others Assets ⓘ | 9.71 | 10.01 | 3.01 | 2.54 | 5.84 | 4.65 | 5.09 | 4.51 | 4.67 | 3.47 | |
| Total Assets ⓘ | 50.79 | 64.65 | 63.27 | 49.27 | 39.33 | 34.28 | 27.67 | 25.21 | 23.77 | 22.84 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -7.36 | -5.38 | -11.74 | -7.09 | -0.12 | -0.21 | 7.03 | 1.98 | 2.50 | 1.86 |
| Cash Flow From Investing Activity ⓘ + | 13.39 | -5.55 | 0.81 | 10.05 | 5.89 | 1.99 | -2.05 | 0.53 | 0.12 | -1.05 |
| Cash Flow From Financing Activity ⓘ + | -12.17 | 12.74 | 7.37 | -2.82 | -7.32 | -1.41 | -5.50 | -2.30 | -2.09 | -1.15 |
| Net Cash Flow ⓘ | -6.13 | 1.80 | -3.57 | 0.14 | -1.55 | 0.37 | -0.52 | 0.20 | 0.53 | -0.34 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5.87 | -5.29 | -29.53 | -45.78 | -40.14 | -41.61 | -142.6 | N/A | N/A | N/A |
| ROCE (%) | 8.14 | -4.08 | -17.56 | -21.68 | -17.85 | -14.67 | -44.86 | N/A | N/A | N/A |
| Asset Turnover Ratio | 0 | 0.05 | 0.23 | 0.43 | 0.21 | 0.2 | 0.42 | 0.47 | 0.5 | 0.38 |
| PAT to CFO Conversion(x) | -2.24 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.21 | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 0 | 8.70 | 29.80 | 29 | 48 | 61.60 | 42.70 | 50.60 | 51.10 | 59.90 |
| Inventory Days | 0 | 172.30 | 61.40 | 46.50 | 72.20 | 42.60 | 33.40 | 49.30 | 41.30 | 44.40 |
| Payable Days | 0 | 45.90 | 24.80 | 20.30 | 63 | 270.10 | 172.40 | 472.70 | 474.90 | 383 |
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Span Divergent Ltd FAQs
The current trading price of Span Divergent on 28-Sep-2026 09:50 is ₹26.75.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 27-Sep-2026 the market cap of Span Divergent stood at ₹20.45 Cr
The latest P/E ratio of Span Divergent as of 27-Sep-2026 is 76.86.
The latest P/B ratio of Span Divergent as of 27-Sep-2026 is 0.50.
The 52-week high of Span Divergent is ₹51.49 and the 52-week low is ₹21.76.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Span Divergent is ₹0.00 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Span Divergent Ltd is a below average quality company.
The key valuation ratios of Span Divergent Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Span Divergent Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Span Divergent Ltd
A thought, conceived more than three decades ago by a pathologist, Dr. Pradip K. Desai, evolved into a start-up company as the Desai Laboratories. The goal was to indigenously develop and manufacture a comprehensive range of ready-made diagnostic reagents needed by clinical pathology laboratories. In 1976, the company was reorganized as Span Diagnostics with an emphasis on in-house R & D to develop more and more products, keeping the customer needs in focus and quality under constant vigil.
The initial efforts yielded success and SPAN became a private limited company in 1981.The company went public in 1994,to bring in more resources and expand further Concurrently , Span Diagnostics Ltd. with a strengthened marketing & distribution network, emerged as a leader in Indian diagnostic market.
Today, SPAN – a legendary name in the industry is reckoned for its wide range of quality products and dedicated services. The company operates through strategic marketing divisions, ensuring focused approach to specific customer segments.
Span Diagnostics Ltd. is a pioneer and trend setter of high quality products for pathology & clinical laboratories in the Indian diagnostics industry. A globally acknowledged and fastest growing diagnostic company with a successful track record of over 3 decades having Asia's one of the largest state-of-the-art ISO-9001:2000, WHO cGMP accredited advanced manufacturing facilities with ISO 13485 & CE accredited products. We have our marketing activities across India and 68 countries worldwide. SPAN services end users and distributors with ready to use testing kits and customized OEM products.
SPAN has nurtured its growth by consistently adding new products through R & D endeavors. The products are manufactured at its state-of-the-art plants in India and France , observing WHO- cGMP norms.
SPAN also takes pride in having exclusive strategic business alliances with the leading diagnostic companies from world over, to market their products in India.
Product range of the company includes
- Diagnostic Reagents & Kits
- Instruments
- Industrial & Research Products
- Veterinary Products
Milestones:
- 2006 : Started marketing and distribution office in UAE
- Accredited for ISO 13485 : 2003
- 2005 : Established manufacturing and R&D facility in France
- 2004 : CE Registration
- Started Amesos:Critical Care Product Division
- Introduced IBD:Institutional Business Division.
- 2003: Accredited for ISO 9001:2000
- Formed iD-Serve:Technical support Division for lab automation
- 2002 : Launched Cogent : Clinical Chemistry Division.
- 2001 : Initiated international marketing.
- 2000 : Accredited for ISO 9002 and WHO cGMP.
- Formed Strategic marketing Divisions
- PDP : Popular Diagnostic Product Division.
- Stimulus : Speciality Diagnostic Division.
- 1998 : Started SPAN iD : Independent Lab Automation Division.
- 1994 : Listed at stock exchange.
- 1992 : Commissioned modern manufacturing facility.
- 1991 : Ventured into lab automation.
- 1988 : Established distribution network.
- 1982 : Expanded manufacturing facility
- 1980 : Reorganised as Span Diagnostics Pvt. Ltd.
- 1976 : Foundation - Span Diagnostics .
- 1972 : The beginning - Desai Laboratories.
Achievements/ recognition:
- ISO 13485:2003
- ISO 9001:2000
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