X

SPL Industries Ltd. Stock Analysis

Small Cap
Evaluated by 289 users | BSE: 532651 | NSE: SPLIL |
Textile
SPL Industries  Ltd  was originally incorporated as Shivalik Prints Private Limited on December 6, 1991 in New Delhi under the Companies Act, 1956. The name of the Company was changed from Shivalik Prints Private Limited to SPL Industries Ltd vide Fresh Certificate of Incorporation...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
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.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed -37.44%-30.51%-15.95%6.12%0.93%12.57%0.25%6.23%31.66%25.81%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 15760.139.645.559.7149151173157179
Y-o-Y Gr. Rt.--61.7%-34.1%14.9%31.2%149.1%1.2%14.7%-9.3%14.1%
Adjusted EPS (Rs.) -23.93-16.74-6.621.130.162.78-0.591.229.2210.05
Y-o-Y Gr. Rt.-NANANA-85.8%1637.5%-121.2%NA655.7%9%
Book Value per Share (Rs.) 14.971.888.529.519.712.7413.3524.324.7135.55
Adjusted Net Profit -69.4-48.5-19.23.30.58.1-1.73.626.729.1
Net Op. Cash Flow (Rs. Cr.) 16.310.95.13.1-3.9-919.215.815.928.2
Debt to Cash Flow from Ops 5.3160.850-1.37-2.040.780.150.160.14
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
SPL Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 1.5%24.5%5.9%14.1%
Adjusted EPS NA128.9%NA9%
Book Value per Share 10.129.738.643.9
Share Price 29.3% -1.3% 12.6% -18.4%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -88.64-82.84-30.686.210.8413.65-2.665.2431.825.73
Operating Profit Margin (%) -33.86-69.1-24.6714.926.727.821.54.1118.8414.99
Net Profit Margin (%) -44.23-80.69-48.467.20.765.42-1.132.0617.0516.29
Debt to Equity 211.990.1800.190.50.390.030.030.04
Working Capital Days 3544462659711695138111111102
Cash Conversion Cycle 200202221385259192545
Entity Percentage Holding
Promoters 68.93%
Institutions 0.01%
Non-Institutions 31.05%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of SPL Industries Ltd.'s performance infers:

SPL Industries Ltd. earnings have grown by 128.9%, whereas share price has depreciated -1.3% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of SPL Industries Ltd. share prices over the last 10 years. Here is what we found out:

SPL Industries Ltd. share price has depreciated 14.7% annually over the past ten years.

SPL Industries  Ltd  was originally incorporated as Shivalik Prints Private Limited on December 6, 1991 in New Delhi under the Companies Act, 1956. The name of the Company was changed from Shivalik Prints Private Limited to SPL Industries Ltd vide Fresh Certificate of Incorporation dated September 26, 1994.

The company is promoted by H.R. Gupta and Vijay Jindal and is a  leading manufacturer & exporter of Knitted fabric and Knitted garments. SPLIL designs, manufactures

SPL Industries  Ltd  was originally incorporated as Shivalik Prints Private Limited on December 6, 1991 in New Delhi under the Companies Act, 1956. The name of the Company was changed from Shivalik Prints Private Limited to SPL Industries Ltd vide Fresh Certificate of Incorporation dated September 26, 1994.

The company is promoted by H.R. Gupta and Vijay Jindal and is a  leading manufacturer & exporter of Knitted fabric and Knitted garments. SPLIL designs, manufactures and sells a wide range of outer wear – T shirts, sweat shirts, polo shirts, etc. for top end customers in the international market.

SPLIL established its first textile unit named “SPL processing house” with a focus on printing and dyeing of cloth with a capacity of 1,00,000 meters/day. SPLIL planned to become a major supplier of printed and dyed cloth in northern India. In July 1992, SPLIL expanded its operation by installing new equipment and increased its capacity to 150,000 meters/day.

In March 1995, the Company set up a vertical integrated plant for apparel manufacturing, which had the facilities for knitting, dyeing, processing, cutting and stitching, with a capacity of producing 100,000 pieces of knitted garment per month. Due to a growing customer base and demand for its products, SPLIL increased its capacity by another 150,000 pieces per month i.e. a total of 250,000 pieces per month.

In 1999, SPLIL sold off the printing unit. In 2000, SPLIL decided to further diversify its operations and a started sweater division with a capacity of 120,000 pieces per month.

In 2000, SPLIL established another knitwear unit with capacity of 250,000 pieces per month and 100,000 pieces per month of Home Furnishings. Thus the total capacity reached 500,000 pieces per month of garments. Later in 2002, SPLIL opened another Knitted Garment unit with capacity of 250,000 pieces per month which increased the capacity to 7,50,000 pieces per month.

In 2003, the Company amalgamated SPL Machines Ltd. (Formerly known as J. Perrot Company India Private Ltd.) with SPL Industries Ltd. as per Delhi High Court decision. 2 shares were issued to the shareholders of SPL Machines Private Ltd. towards the payment consideration.

The Company has a well equipped design studio. SPLIL employs a team of designers who design and develop the products as per the requirements of the customers. They regularly visit International fairs like Piiti Fillatt, Expofil and Premier vision.

These fairs determine the latest trends in yarn / fabric and colours for the following season. The design team regularly interacts with the customers which helps it to keep pace with their expectations. SPLIL exports knitted apparels to USA, Europe, Canada and Japan. Almost 95% of the total production is exported. The major customers of the Company are GAP, JC Penney, Kohls, Haggar, Sears, HMX, Supreme, PVH, Federated etc. The Company adheres to international standards as required by the customers.

SPLIL also manufactures Home Furnishings which include Bedsheets, Curtains, pillows etc. these products are exported to Middle East and USA

Product range of the company includes:

  • Knitted fabric
  • Knitted garments.
  • T shirts
  • Sweat shirts
  • Polo shirts

Milestones:

  • 1991- Company incorporated in the name of Shivalik Prints Pvt. Ltd. for process and printing of Woven Fabrics
  • 1994 -Company changed name from Shivalik Prints Private Ltd. to SPL Industries Ltd.
  • 1995- Setup new factory for Knitted Garments
  • 2000 -Setup cotton sweater plant
  • 2001 -Setup two new factories for Knitting Garments to enhance the capacity of Knitting as well as Dyeing
  • 2002-Factory for Value added items like computerized embroidery
  • 2003 -Enhance capacity for Knitting, Dyeing and Garments
  • 2003 -Setup unit for manufacturing home furnishing items like Bed sheet, curtains, pillows cushions etc.
  • 2003 -Amalgamation of SPL Machine to SPL Industries Ltd. As per Delhi High Court decision
  • 2005 -Accorded the status of Two Star Export House in accordance with the provisions of the Foreign Trade Policy, 2004-09.

Achievements/ recognition:

  • 1997 - 5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 1997-Award for outstanding performance in export by Government of Haryana ( Department of Industries) by Government of Haryana
  • 1998- 5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 1999 -5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 2000- 5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 2000- Award for outstanding performance in export by Government of Haryana ( Department of Industries) by Government of Haryana
  • 2001- 5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 2002 - 5 Star Award for outstanding service in the development of Federated Merchandising by Federated Department Stores Group
  • 2004 - Appreciation of our outstanding contribution to Faridabad industries by Chief Minister of Haryana  awarded by Faridabad Industries Association
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback