SPL Industries Ltd (SPLIL) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

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

SPL Industries Share Price

37.23 -0.86 -2.26%
as on 05-Dec'25 16:59

SPL Industries Ltd (SPLIL) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

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

DeciZen - make an informed investing decision on SPL Industries

Based on:

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

1. Quality


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2. Valuation


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3. Price Trend


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SPL Industries stock performance -

Key Ratios
mw4me loader
P/E Ratio (SA):
27.94
Market Cap:
110.5 Cr.
52-wk low:
30.5
52-wk high:
73

Is SPL Industries Ltd an attractive stock to invest in?


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10 Year X-Ray of SPL Industries: Login to view analysis.

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 22.7%7.7%11.3%38.2%34.9%16.3%22.3%21.7%10.7%8.2%-
Value Creation
Index
0.6-0.5-0.21.71.50.20.60.6-0.2-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 14915117315717911019828519913989
Sales YoY Gr.-1.2%14.7%-9.3%14.1%-38.5%79.8%43.9%-30%-30%-
Adj EPS 2.8-0.61.29.210.14.86.76.43.73.11.4
YoY Gr.--121.2%NA655.7%9%-52.3%40.3%-4.3%-43.2%-15.1%-
BVPS (₹) 12.713.424.324.735.640.347.655.96063.463.6
Adj Net
Profit
8.1-1.73.626.729.113.919.518.710.694
Cash Flow from Ops. -919.215.815.928.229.88.1147.220.7-
Debt/CF from Ops. -20.80.20.20.10.20.60.800-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.7%-4.9%-11%-30%
Adj EPS 1.2%-21%-22.7%-15.1%
BVPS19.5%12.3%10.1%5.7%
Share Price 2.8% 2.6% -22.8% -40.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
13.7-2.75.231.825.710.212.710.65.54.42.1
Op. Profit
Mgn %
7.81.54.118.81514.811.28.252.8-4.4
Net Profit
Mgn %
5.4-1.12.117.116.312.69.96.65.36.54.4
Debt to
Equity
0.50.4000000.1000
Working Cap
Days
9513811111110211210199119138214
Cash Conv.
Cycle
52591925455919245571192

Recent Performance Summary

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Latest Financials - SPL Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 1.4 -24.2
TTM Sales (₹ Cr.) 89.1 158
BVPS (₹.) 63.6 0
Reserves (₹ Cr.) 155 13
P/BV 0.60 0.00
PE 27.94 0.00
From the Market
52 Week Low / High (₹) 30.49 / 73.00
All Time Low / High (₹) 2.02 / 114.95
Market Cap (₹ Cr.) 110
Equity (₹ Cr.) 29
Face Value (₹) 10
Industry PE 34.7

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 (%)

Valuation of SPL Industries - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of SPL Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales149151173157179110198285199139
Operating Expenses 13714816612815294176261189136
Manufacturing Costs32443125221829302823
Material Costs7567103901146213221014394
Employee Cost 20291899811111212
Other Costs 1181447641066
Operating Profit 12272927162223104
Operating Profit Margin (%) 7.8%1.5%4.1%18.5%15.0%14.3%11.0%8.2%5.0%2.8%
Other Income 25438610141214
Interest 1321111222
Depreciation 3344332333
Exceptional Items 0000000000
Profit Before Tax 91527301829321613
Tax 0000-148843
Profit After Tax 91527311421241210
PAT Margin (%) 5.9%1.0%3.1%17.3%17.5%12.3%10.7%8.4%5.9%7.0%
Adjusted EPS (₹)3.00.51.99.410.84.77.38.24.13.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 64657098129142163187199209
Share Capital 29292929292929292929
Reserves 35364169100113134158170180
Minority Interest0000000000
Debt1815224451100
Long Term Debt0320000000
Short Term Debt1812124451100
Trade Payables83724208238543
Others Liabilities 97331124510
Total Liabilities 99123100122141150209208208222

Fixed Assets

Gross Block116125130104565157616869
Accumulated Depreciation69727552222022242629
Net Fixed Assets 47525552333135384240
CWIP 02110031100
Investments 000000104658106
Inventories102023223311
Trade Receivables31333039321249303523
Cash Equivalents 25316468361362717
Others Assets 9111011282348444535
Total Assets 99123100122141150209208208222

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity -91916162830814721
PBT 91527301829321613
Adjustment 45451-2-4-1-3-3
Changes in Working Capital -22137-16-317-10-8-111
Tax Paid -0000-0-3-7-8-5-0
Cash Flow From Investing Activity -2-14-0-14-28-29-4-264-21
Capex -2-11-5-2-1-1-5-14-3-1
Net Investments 000000-10-35-12-48
Others 0-34-12-27-2811231928
Cash Flow From Financing Activity 12-6-14-10-0-05-11-0
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 03-10000000
Interest Paid -1-3-2-1-1-1-1-1-0-0
Dividend Paid 0000000000
Others 13-6-1102006-110
Net Cash Flow 1-111014-70-0

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)27.133.849.8738.2335.812.3316.5615.975.48
ROCE (%)22.667.6711.2538.2434.8716.3322.2721.6710.688.18
Asset Turnover Ratio1.691.351.551.411.360.751.11.370.960.65
PAT to CFO Conversion(x)-1193.20.590.92.140.380.580.582.1
Working Capital Days
Receivable Days58786780727256506076
Inventory Days1736236674443
Payable Days4112310789442956381213

SPL Industries Ltd Stock News

SPL Industries Ltd FAQs

The current trading price of SPL Industries on 05-Dec-2025 16:59 is ₹37.23.
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 04-Dec-2025 the market cap of SPL Industries stood at ₹110.5.
The latest P/E ratio of SPL Industries as of 04-Dec-2025 is 27.94.
The latest P/B ratio of SPL Industries as of 04-Dec-2025 is 0.60.
The 52-week high of SPL Industries is ₹73.00 and the 52-week low is ₹30.49.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SPL Industries is ₹89.07 ( 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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