Spel Semiconductor Ltd

Spel Semiconductor Ltd

₹ 104 9.99%
21 Feb 4:01 p.m.
About

SPEL Semiconductor Limited is Natronix's India OSAT (Outsourced Semiconductor Assembly & Test). SPEL provides full turnkey solutions that include Wafer sort, Assembly, Test and Drop-shipment services which help Customers accelerate time-to-revenue for their new products.

SPEL also offers value added services such as Package Design, Failure Analysis and Full Reliability Test, Test Program Development & Product Characterization.[1]

Key Points

Company Overview
Natronix Semiconductor Technology Pvt Ltd, headquartered in Singapore and a member of the Valingro Group has its OSAT presence in India through its subsidiary, SPEL Semiconductor Ltd. The Co, SPEL is the first IC Assembly & Test facility in India which commenced commercial production in 1989. [1]

  • Market Cap 478 Cr.
  • Current Price 104
  • High / Low 104 / 33.2
  • Stock P/E 228
  • Book Value 9.04
  • Dividend Yield 0.00 %
  • ROCE 8.75 %
  • ROE 11.4 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 343 to 60.5 days.

Cons

  • Stock is trading at 11.5 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -23.2% over past five years.
  • Company has a low return on equity of -3.87% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
4.50 2.32 0.86 2.84 3.21 3.73 10.35 1.99 2.22 4.14 5.13 2.21 2.28
4.54 7.99 3.26 3.73 3.56 2.18 7.99 -0.03 4.00 1.68 5.25 3.35 3.21
Operating Profit -0.04 -5.67 -2.40 -0.89 -0.35 1.55 2.36 2.02 -1.78 2.46 -0.12 -1.14 -0.93
OPM % -0.89% -244.40% -279.07% -31.34% -10.90% 41.55% 22.80% 101.51% -80.18% 59.42% -2.34% -51.58% -40.79%
0.30 1.42 0.07 0.63 0.20 -5.21 0.31 0.27 -5.16 2.63 -2.55 -1.43 -2.07
Interest 0.26 0.27 0.20 0.24 0.21 0.57 0.21 0.20 1.11 1.04 0.67 0.54 0.68
Depreciation 1.08 1.08 1.05 1.15 1.25 1.24 1.24 0.98 0.99 0.74 0.71 0.71 0.73
Profit before tax -1.08 -5.60 -3.58 -1.65 -1.61 -5.47 1.22 1.11 -9.04 3.31 -4.05 -3.82 -4.41
Tax % 15.74% -9.64% -1.12% -4.85% 36.02% -13.53% -34.43% -31.53% 2.10% -14.20% 0.49% 2.36% 3.17%
-0.90 -6.14 -3.62 -1.73 -1.03 -6.21 1.65 1.46 -8.85 3.77 -4.04 -3.73 -4.26
EPS in Rs -0.20 -1.33 -0.78 -0.38 -0.22 -1.35 0.36 0.32 -1.92 0.82 -0.88 -0.81 -0.92
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
79.79 80.77 63.39 47.20 25.85 35.53 41.66 26.34 36.54 15.92 9.49 11.16 13.76
67.24 70.02 48.68 34.90 35.40 37.64 44.47 34.22 30.54 21.55 11.75 7.22 13.49
Operating Profit 12.55 10.75 14.71 12.30 -9.55 -2.11 -2.81 -7.88 6.00 -5.63 -2.26 3.94 0.27
OPM % 15.73% 13.31% 23.21% 26.06% -36.94% -5.94% -6.75% -29.92% 16.42% -35.36% -23.81% 35.30% 1.96%
0.86 1.22 1.15 1.38 -0.32 -20.88 3.67 4.86 1.76 2.65 -4.31 -1.95 -3.42
Interest 3.25 5.84 4.70 4.04 3.04 2.16 2.89 2.84 1.43 1.16 1.22 2.56 2.93
Depreciation 9.38 11.85 10.96 10.12 10.71 6.93 6.31 5.15 4.98 4.30 4.69 3.95 2.89
Profit before tax 0.78 -5.72 0.20 -0.48 -23.62 -32.08 -8.34 -11.01 1.35 -8.44 -12.48 -4.52 -8.97
Tax % 26.92% 20.45% -60.00% 27.08% 16.22% 4.61% -1.56% 2.45% 21.48% -2.25% -2.32% 31.64%
0.57 -4.55 0.32 -0.35 -19.79 -30.60 -8.47 -10.74 1.05 -8.64 -12.77 -3.09 -8.26
EPS in Rs 0.12 -0.99 0.07 -0.08 -4.29 -6.64 -1.84 -2.33 0.23 -1.87 -2.77 -0.67 -1.79
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -18%
5 Years: -23%
3 Years: -33%
TTM: -25%
Compounded Profit Growth
10 Years: 13%
5 Years: 21%
3 Years: 76%
TTM: 240%
Stock Price CAGR
10 Years: 39%
5 Years: 69%
3 Years: 79%
1 Year: 153%
Return on Equity
10 Years: -7%
5 Years: -5%
3 Years: -4%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13 46.13
Reserves 46.02 41.20 41.52 40.86 21.07 49.02 40.90 31.42 32.90 25.91 6.61 3.40 -4.43
38.65 33.10 30.34 27.30 16.16 28.23 24.91 22.33 27.60 29.93 31.35 25.31 25.16
27.48 27.66 27.38 30.16 47.01 51.37 57.96 63.54 75.10 64.46 88.09 88.74 87.06
Total Liabilities 158.28 148.09 145.37 144.45 130.37 174.75 169.90 163.42 181.73 166.43 172.18 163.58 153.92
127.01 118.86 108.56 98.11 87.20 132.70 126.37 122.10 117.12 112.91 87.25 77.67 76.42
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
31.27 29.23 36.81 46.34 43.17 42.05 43.53 41.32 64.61 53.52 84.93 85.91 77.50
Total Assets 158.28 148.09 145.37 144.45 130.37 174.75 169.90 163.42 181.73 166.43 172.18 163.58 153.92

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
18.22 13.24 5.12 5.81 -6.97 -28.62 -6.38 4.02 -6.73 -2.38 -22.11 -3.23
-17.71 -3.36 1.49 0.38 0.91 25.73 7.04 0.61 1.46 1.21 21.35 11.61
-2.54 -10.61 -6.83 -6.33 6.01 8.41 -6.18 -4.62 5.28 1.16 0.76 -8.39
Net Cash Flow -2.03 -0.73 -0.22 -0.14 -0.06 5.51 -5.53 0.00 0.01 -0.01 0.00 0.00

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 30.33 24.40 54.47 43.61 53.94 159.13 18.31 60.42 319.45 926.26 40.77 60.51
Inventory Days 183.05 166.68 381.23 2,093.72 1,177.89
Days Payable 89.78 97.81 165.81 557.55 346.19
Cash Conversion Cycle 123.60 93.27 269.90 1,579.78 885.64 159.13 18.31 60.42 319.45 926.26 40.77 60.51
Working Capital Days 30.88 26.71 53.32 116.61 13.84 119.17 114.16 57.78 162.72 338.63 883.08 668.19
ROCE % 3.13% 0.10% 4.11% 3.07% -19.67% -6.02% -5.76% -7.71% 2.72% -4.30% -6.01% 8.75%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
59.17% 59.17% 59.17% 59.17% 59.17% 59.17% 59.18% 59.18% 59.18% 59.18% 59.18% 59.18%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
40.79% 40.79% 40.79% 40.79% 40.78% 40.78% 40.78% 40.78% 40.80% 40.80% 40.78% 40.78%
No. of Shareholders 27,68428,11329,49430,27356,70659,87361,93062,15561,54861,54862,28865,538

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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