Spinaroo Commercial Ltd
Incorporated in 2012, Spinaroo Commercial Ltd manufactures aluminium and paper products, and deals in machineries.[1]
- Market Cap ₹ 39.0 Cr.
- Current Price ₹ 55.8
- High / Low ₹ 83.8 / 26.6
- Stock P/E 30.9
- Book Value ₹ 24.0
- Dividend Yield 0.00 %
- ROCE 18.6 %
- ROE 21.3 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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
Commodities Forest Materials Paper, Forest & Jute Products Paper & Paper Products
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 47.43 | 53.12 | 40.84 | 39.31 | 37.67 | |
| 45.18 | 50.92 | 38.18 | 36.36 | 35.17 | |
| Operating Profit | 2.25 | 2.20 | 2.66 | 2.95 | 2.50 |
| OPM % | 4.74% | 4.14% | 6.51% | 7.50% | 6.64% |
| 0.13 | 0.07 | 0.38 | 0.02 | 0.03 | |
| Interest | 0.81 | 0.78 | 0.75 | 0.71 | 0.50 |
| Depreciation | 0.64 | 0.51 | 0.43 | 0.29 | 0.29 |
| Profit before tax | 0.93 | 0.98 | 1.86 | 1.97 | 1.74 |
| Tax % | 44.09% | 5.10% | 24.73% | 26.90% | |
| 0.52 | 0.93 | 1.40 | 1.44 | 1.26 | |
| EPS in Rs | 5.20 | 9.30 | 14.00 | 2.88 | 2.27 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -6% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 43% |
| TTM: | 31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 1% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| Last Year: | 21% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 1.00 | 1.00 | 1.00 | 5.00 | 6.99 |
| Reserves | 2.70 | 3.63 | 5.03 | 2.47 | 9.76 |
| 9.00 | 8.44 | 7.52 | 7.79 | 6.76 | |
| 5.12 | 6.40 | 5.13 | 4.95 | 3.53 | |
| Total Liabilities | 17.82 | 19.47 | 18.68 | 20.21 | 27.04 |
| 2.85 | 2.45 | 1.77 | 1.62 | 1.72 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.24 | 0.24 | 0.41 | 0.43 | 1.96 |
| 14.73 | 16.78 | 16.50 | 18.16 | 23.36 | |
| Total Assets | 17.82 | 19.47 | 18.68 | 20.21 | 27.04 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 1.23 | 1.81 | -0.64 | -0.47 | |
| -0.33 | -0.11 | 0.74 | -0.13 | |
| -1.26 | -1.33 | -0.15 | 0.60 | |
| Net Cash Flow | -0.36 | 0.37 | -0.05 | 0.00 |
| Free Cash Flow | 1.11 | 1.69 | 0.10 | -0.60 |
| CFO/OP | 77% | 95% | -7% | 2% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 29.63 | 31.88 | 33.60 | 35.66 |
| Inventory Days | 72.56 | 76.02 | 119.09 | 141.71 |
| Days Payable | 34.21 | 41.53 | 41.27 | 44.73 |
| Cash Conversion Cycle | 67.98 | 66.37 | 111.43 | 132.64 |
| Working Capital Days | 10.00 | 17.18 | 34.68 | 49.86 |
| ROCE % | 13.66% | 17.81% | 18.60% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Capacity Utilization - Aluminium Container & Home Foil % |
|
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| Capacity Utilization - Paper Cup % |
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| Capacity Utilization - Paper Plate & Bowl % |
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| Total Installed Capacity - Aluminium Container & Home Foil MTPA |
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| Total Installed Capacity - Flexo Printing Machine MTPA |
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| Total Installed Capacity - Paper Cup MTPA |
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| Total Installed Capacity - Paper Plate & Bowl MTPA |
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| Number of Paper Cup Machines Number |
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| Number of Paper Plate & Bowl Machines Number |
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| Number of States of Operations Number |
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| Total Employees Number |
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Documents
Announcements
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 1d
-
Intimation Under Regulation 30 Of SEBI (LODR) Regulations 2015, As Amended Read With Applicable Circulars Issued Thereto, (''SEBI LODR Regulations'') For Withdrawal Of Proposed Issue Of 7,89,000 Equity Shares On Preferential Basis.
6 Apr - Board withdrew 7,89,000-share preferential issue for Spino Poly Products acquisition; issue postponed.
-
Disclosure Under SEBI Takeover Regulations
6 Apr - Promoters declared no encumbrance on company shares during FY 2025-26.
-
Closure of Trading Window
20 Mar - Trading window closed from 1 April 2026 until 48 hours after board meeting approving quarter/year results ended 31 Mar 2026.
-
Announcement under Regulation 30 (LODR)-Change in RTA
11 Mar - Tripartite agreement executed 10 March 2026 for RTA change from Cameo to Niche Technologies.
Business Overview:[1][2]
a) Products:
SCL is a manufacturer of Aluminium Foil Container, Aluminium Home Foil, Paper Bowls, Paper Plates, Paper Cup, Semi-Processed Raw Material for the Paper Cups viz. paper coating, printing, blanking, etc.
b) Machineries:
The company also deals in a wide range of Paper Cup related Machinery like High-Speed Paper Cup Making Machine, Flex-
Printing Machine, Automatic Roll Die Cutting Machine etc. Coating Machine, Slitting Machine, with full end to end support.