SPL Industries Ltd - Stock Valuation and Financial Performance

BSE: 532651 | NSE: SPLIL | Textile | Small Cap

SPL Industries Share Price

57.76 1.02 1.80%
as on 11-Oct'24 16:01

DeciZen - make an informed investing decision on SPL Industries

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

SPL Industries stock performance -

mw4me loader
P/E Ratio (SA):
15.23
Market Cap:
167.5 Cr.
52-wk low:
52.2
52-wk high:
80.8

Is SPL Industries Ltd an attractive stock to invest in?

1. Is SPL Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that SPL Industries Ltd is a good quality company.

2. Is SPL Industries Ltd undervalued or overvalued?

The key valuation ratios of SPL Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is SPL Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of SPL Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of SPL Industries:

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 end

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.
SPL Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 2.1%22.7%7.7%11.3%38.2%34.9%16.3%22.3%21.7%10.7%-
Value Creation
Index
-0.90.6-0.5-0.21.71.50.20.60.6-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 59.7149151173157179110198285199184
Sales YoY Gr.-149.1%1.2%14.7%-9.3%14.1%-38.5%79.8%43.9%-30%-
Adj EPS 0.22.8-0.61.29.210.14.86.76.43.73.8
YoY Gr.-1637.5%-121.2%NA655.7%9%-52.3%40.3%-4.3%-43.2%-
BVPS (₹) 9.712.713.424.324.735.640.347.655.96060.8
Adj Net
Profit
0.58.1-1.73.626.729.113.919.518.710.611
Cash Flow from Ops. -3.9-919.215.815.928.229.88.1147.2-
Debt/CF from Ops. -1.4-20.80.20.20.10.20.60.80-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14.3%4.9%21.9%-30%
Adj EPS 41.6%-16.9%-8.7%-43.2%
BVPS22.4%19.4%14.2%7.3%
Share Price 18.1% 13.1% 6.9% -18.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
0.813.7-2.75.231.825.710.212.710.65.56.3
Op. Profit
Mgn %
6.77.81.54.118.81514.811.28.254.3
Net Profit
Mgn %
0.85.4-1.12.117.116.312.69.96.65.36
Debt to
Equity
0.20.50.4000000.10-
Working Cap
Days
116951381111111021121019911949
Cash Conv.
Cycle
3852591925455919245542

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 21.87%

Return on Equity has declined versus last 3 years average to 6.30%

Sales growth is not so good in last 4 quarters at -25.36%

Latest Financials - SPL Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 3.8 -24.2
TTM Sales (₹ Cr.) 184 158
BVPS (₹.) 60.8 0
Reserves (₹ Cr.) 147 13
P/BV 0.95 0.00
PE 15.23 0.00
From the Market
52 Week Low / High (₹) 52.20 / 80.75
All Time Low / High (₹) 2.02 / 114.95
Market Cap (₹ Cr.) 168
Equity (₹ Cr.) 29
Face Value (₹) 10
Industry PE 29.8

Management X-Ray of SPL Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of SPL Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales60149151173157179110198285199
Operating Expenses 5613714816612815294176261189
Manufacturing Costs21324431252218293028
Material Costs2075671039011462132210143
Employee Cost 11202918998111112
Other Costs 3118144764106
Operating Profit 41227292716222310
Operating Profit Margin (%) 6.7%7.8%1.5%4.1%18.5%15.0%14.3%11.0%8.2%5.0%
Other Income 1254386101412
Interest 0132111122
Depreciation 4334433233
Exceptional Items 0000000000
Profit Before Tax 1915273018293216
Tax 00000-14884
Profit After Tax 1915273114212412
PAT Margin (%) 0.9%5.9%1.0%3.1%17.3%17.5%12.3%10.7%8.4%5.9%
Adjusted EPS (₹)0.23.00.51.99.410.84.77.38.24.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 5564657098129142163187199
Share Capital 29292929292929292929
Reserves 2635364169100113134158170
Minority Interest0000000000
Debt5181522445110
Long Term Debt0032000000
Short Term Debt5181212445110
Trade Payables98372420823854
Others Liabilities 9973311245
Total Liabilities 7799123100122141150209208208

Fixed Assets

Gross Block1151161251301045651576168
Accumulated Depreciation66697275522220222426
Net Fixed Assets49475255523331353842
CWIP 00211003110
Investments 0000000104658
Inventories410202322331
Trade Receivables16313330393212493035
Cash Equivalents 1253164683613627
Others Assets891110112823484445
Total Assets 7799123100122141150209208208

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity -4-919161628308147
PBT 1915273018293216
Adjustment 445451-2-4-1-3
Changes in Working Capital -8-22137-16-317-10-8-1
Tax Paid 000000-3-7-8-5
Cash Flow From Investing Activity 0-2-140-14-28-29-4-264
Capex 0-2-11-5-2-1-1-5-14-3
Net Investments 0000000-10-35-12
Others 00-34-12-27-28112319
Cash Flow From Financing Activity 512-6-14-10005-11
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 003-1000000
Interest Paid 0-1-3-2-1-1-1-1-10
Dividend Paid 0000000000
Others 513-6-1102006-11
Net Cash Flow 11-111014-70
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)1.8727.133.849.8738.2335.812.3316.5615.97
ROCE (%)2.0622.667.6711.2538.2434.8716.3322.2721.6710.68
Asset Turnover Ratio0.851.691.351.551.411.360.751.11.370.96
PAT to CFO Conversion(x)-4-1193.20.590.92.140.380.580.58
Working Capital Days
Receivable Days55587867807272565060
Inventory Days23173623667444
Payable Days11741123107894429563812

SPL Industries Ltd Stock News

SPL Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of SPL Industries on 11-Oct-2024 16:01 is ₹57.76.
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 11-Oct-2024 16:01 the market cap of SPL Industries stood at ₹167.5.
The latest P/E ratio of SPL Industries as of 11-Oct-2024 16:01 is 15.23.
The latest P/B ratio of SPL Industries as of 11-Oct-2024 16:01 is 0.95.
The 52-week high of SPL Industries is ₹80.75 and the 52-week low is ₹52.20.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SPL Industries is ₹184.2 ( Cr.) .

About SPL Industries Ltd

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
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