Sprayking Ltd
Incorporated in 1980, Sprayking Agro Ltd is in the business of trading and exports of Brass items[1]
- Market Cap ₹ 40.2 Cr.
- Current Price ₹ 1.90
- High / Low ₹ 7.10 / 1.88
- Stock P/E 59.9
- Book Value ₹ 1.42
- Dividend Yield 0.00 %
- ROCE 8.69 %
- ROE 7.69 %
- Face Value ₹ 1.00
Pros
- Debtor days have improved from 82.0 to 40.1 days.
- Company's working capital requirements have reduced from 260 days to 107 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 36.4%
- Company has a low return on equity of 9.69% over last 3 years.
- Earnings include an other income of Rs.0.95 Cr.
- Promoter holding has decreased over last 3 years: -36.4%
* 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.
Peer comparison
Industrials Capital Goods Industrial Products Other Industrial Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 16.23 | 14.06 | 15.15 | 17.64 | 23.28 | 28.64 | 25.64 | 18.60 | 15.99 | 19.33 | 31.14 | 61.95 | 40.03 | |
| 15.48 | 13.01 | 14.10 | 16.78 | 22.52 | 27.67 | 25.45 | 19.06 | 15.51 | 16.68 | 26.80 | 58.23 | 37.96 | |
| Operating Profit | 0.75 | 1.05 | 1.05 | 0.86 | 0.76 | 0.97 | 0.19 | -0.46 | 0.48 | 2.65 | 4.34 | 3.72 | 2.07 |
| OPM % | 4.62% | 7.47% | 6.93% | 4.88% | 3.26% | 3.39% | 0.74% | -2.47% | 3.00% | 13.71% | 13.94% | 6.00% | 5.17% |
| 0.17 | 0.29 | 0.22 | 0.54 | 0.61 | 0.40 | 0.85 | 1.90 | 0.01 | 0.00 | 0.30 | 0.91 | 0.95 | |
| Interest | 0.41 | 0.52 | 0.52 | 0.64 | 0.63 | 0.66 | 0.55 | 0.40 | 0.00 | 0.11 | 0.37 | 0.75 | 1.02 |
| Depreciation | 0.40 | 0.77 | 0.67 | 0.65 | 0.60 | 0.52 | 0.44 | 0.16 | 0.02 | 0.11 | 0.45 | 1.06 | 1.52 |
| Profit before tax | 0.11 | 0.05 | 0.08 | 0.11 | 0.14 | 0.19 | 0.05 | 0.88 | 0.47 | 2.43 | 3.82 | 2.82 | 0.48 |
| Tax % | 27.27% | 20.00% | 25.00% | 27.27% | 21.43% | 31.58% | 20.00% | 29.55% | 25.53% | 25.51% | 22.77% | 21.63% | |
| 0.07 | 0.04 | 0.05 | 0.08 | 0.12 | 0.13 | 0.03 | 0.62 | 0.35 | 1.81 | 2.96 | 2.21 | 0.67 | |
| EPS in Rs | 0.03 | 0.02 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.03 | 0.02 | 0.09 | 0.14 | 0.10 | 0.03 |
| 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: | 16% |
| 5 Years: | 19% |
| 3 Years: | 57% |
| TTM: | -13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 49% |
| 5 Years: | 136% |
| 3 Years: | 85% |
| TTM: | -78% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 13% |
| 1 Year: | -71% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 8% |
| 3 Years: | 10% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.38 | 0.38 | 2.28 | 3.17 | 3.17 | 3.17 | 3.17 | 3.17 | 3.17 | 6.34 | 10.57 | 21.14 | 21.14 |
| Reserves | 1.50 | 1.53 | 3.63 | 4.69 | 4.79 | 4.93 | 4.96 | 5.58 | 5.93 | 18.51 | 17.24 | 8.51 | 8.92 |
| 7.07 | 9.42 | 7.92 | 5.82 | 6.84 | 6.40 | 5.03 | 0.36 | 0.00 | 1.30 | 6.75 | 17.95 | 16.34 | |
| 4.27 | 1.18 | 0.60 | 3.27 | 1.75 | 0.73 | 0.45 | 0.70 | 2.60 | 0.68 | 20.59 | 3.44 | 4.08 | |
| Total Liabilities | 13.22 | 12.51 | 14.43 | 16.95 | 16.55 | 15.23 | 13.61 | 9.81 | 11.70 | 26.83 | 55.15 | 51.04 | 50.48 |
| 4.02 | 3.45 | 3.62 | 3.44 | 3.29 | 2.89 | 2.36 | 0.15 | 0.24 | 0.55 | 6.06 | 11.19 | 10.98 | |
| 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 | 6.11 | 6.16 | 7.88 |
| 9.20 | 9.06 | 10.81 | 13.51 | 13.26 | 12.34 | 11.25 | 9.66 | 11.46 | 26.28 | 42.98 | 33.69 | 31.62 | |
| Total Assets | 13.22 | 12.51 | 14.43 | 16.95 | 16.55 | 15.23 | 13.61 | 9.81 | 11.70 | 26.83 | 55.15 | 51.04 | 50.48 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.70 | -1.01 | -0.72 | 1.42 | -0.12 | 0.93 | 1.57 | 0.64 | 1.09 | -2.72 | 8.02 | -5.43 | |
| -1.55 | -0.15 | -0.96 | -0.84 | -0.29 | 0.11 | 0.30 | 3.78 | -0.35 | -12.69 | -11.68 | -6.18 | |
| 2.28 | 1.15 | 1.92 | -0.68 | 0.25 | -1.04 | -1.85 | -4.42 | -0.36 | 15.13 | 5.08 | 10.45 | |
| Net Cash Flow | 0.03 | -0.01 | 0.23 | -0.10 | -0.16 | 0.00 | 0.02 | -0.01 | 0.38 | -0.28 | 1.42 | -1.16 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 8.55 | 5.45 | 20.48 | 72.63 | 60.68 | 34.92 | 47.69 | 163.07 | 213.43 | 172.78 | 33.17 | 40.06 |
| Inventory Days | 195.25 | 235.21 | 212.50 | 189.98 | 147.00 | 126.07 | 110.07 | 1.23 | 5.09 | 82.31 | 195.27 | 60.44 |
| Days Payable | 11.88 | 4.81 | 7.62 | 11.91 | 28.17 | 7.44 | 1.67 | 6.79 | 61.81 | 3.29 | 215.87 | 17.30 |
| Cash Conversion Cycle | 191.91 | 235.85 | 225.36 | 250.70 | 179.51 | 153.55 | 156.09 | 157.52 | 156.71 | 251.80 | 12.57 | 83.21 |
| Working Capital Days | 108.40 | 122.01 | 145.52 | 121.67 | 85.29 | 72.01 | 84.42 | 167.19 | 189.92 | 455.64 | 219.07 | 106.52 |
| ROCE % | 6.77% | 5.62% | 4.77% | 5.45% | 5.41% | 5.73% | 4.27% | -1.17% | 5.16% | 14.41% | 13.80% | 8.69% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
18 Oct - Newspaper Clippings- Un-audited Financial Results for the quarter ended September 30, 2025
-
Board Meeting Outcome for Outcome Of Board Meeting Held On October 16, 2025.
16 Oct - Board approved Q2/H1 results; consolidated H1 revenue Rs4,305.84 lakh, H1 PAT Rs475.77 lakh.
- Results - Financial Results For The Quarter Ended 30.09.2025 16 Oct
-
Board Meeting Intimation for Meeting Dated Thursday, October 16, 2025.
13 Oct - Board meeting Oct 16, 2025 to approve Q2/H1 unaudited results ending Sep 30, 2025.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
11 Oct - Certificate under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the Quarter ended September 30, 2025
Business Overview:[1]
Company manufactures brass components and parts, including fittings, forging equipment, transformer parts, and other customized brass components. It specializes in manufacturing of copper forging products and is in the business of manufacturing and trading of agricultural sprayer parts & garden fittings, extruded brass rods, brass fittings & lead free brass fittings and forging specialty