S P Apparels Ltd
The company was established in 1989, it is a leading manufacturer and exporter of knitted garments for infants and children in India. These are manufactured at the integrated facilities that allow providing end-to-end garment manufacturing services from greige fabric to finished products. [1], Mr. P. Sundararajan is the Chairman and Managing Director of our Company. [2]. The company provides end-to-end garment manufacturing from greige fabric to finished products including bodysuits, sleepsuits, tops, and bottoms. [3]
- Market Cap ₹ 1,448 Cr.
- Current Price ₹ 577
- High / Low ₹ 710 / 328
- Stock P/E 14.4
- Book Value ₹ 292
- Dividend Yield 0.52 %
- ROCE 16.2 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 35.4 to 16.4 days.
- Company's working capital requirements have reduced from 134 days to 79.6 days
Cons
- The company has delivered a poor sales growth of 8.42% over past five years.
- Company has a low return on equity of 12.0% 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.
Peer comparison
Sector: Textiles Industry: Textiles - Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
400 | 426 | 451 | 474 | 536 | 619 | 627 | 777 | 757 | 536 | 735 | 940 | 928 | |
338 | 370 | 386 | 405 | 447 | 518 | 523 | 646 | 675 | 439 | 580 | 790 | 757 | |
Operating Profit | 62 | 56 | 64 | 70 | 89 | 101 | 104 | 131 | 82 | 96 | 155 | 149 | 171 |
OPM % | 15% | 13% | 14% | 15% | 17% | 16% | 17% | 17% | 11% | 18% | 21% | 16% | 18% |
1 | 1 | 1 | 7 | -12 | 21 | 16 | 3 | 13 | 1 | 1 | 22 | 16 | |
Interest | 40 | 35 | 36 | 31 | 25 | 18 | 29 | 6 | 22 | 13 | 11 | 16 | 18 |
Depreciation | 16 | 17 | 18 | 20 | 21 | 21 | 24 | 23 | 32 | 30 | 32 | 34 | 35 |
Profit before tax | 7 | 5 | 13 | 25 | 31 | 83 | 68 | 105 | 41 | 54 | 113 | 122 | 134 |
Tax % | -73% | 40% | 43% | 57% | 34% | 40% | 38% | 33% | -8% | 28% | 26% | 25% | |
12 | 3 | 7 | 11 | 20 | 49 | 42 | 70 | 44 | 39 | 83 | 92 | 100 | |
EPS in Rs | 7.04 | 1.87 | 4.26 | 6.50 | 11.95 | 19.65 | 16.69 | 27.16 | 17.14 | 15.05 | 32.38 | 36.59 | 39.93 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 3% | 3% | 0% | 0% | 15% | 0% | 8% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 8% |
3 Years: | 7% |
TTM: | 1% |
Compounded Profit Growth | |
---|---|
10 Years: | 40% |
5 Years: | 18% |
3 Years: | 21% |
TTM: | 7% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 14% |
3 Years: | 58% |
1 Year: | 67% |
Return on Equity | |
---|---|
10 Years: | 13% |
5 Years: | 12% |
3 Years: | 12% |
Last Year: | 14% |
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 | 17 | 17 | 17 | 17 | 17 | 25 | 25 | 26 | 26 | 26 | 26 | 25 | 25 |
Reserves | 52 | 55 | 62 | 72 | 111 | 345 | 377 | 460 | 496 | 526 | 604 | 650 | 707 |
Preference Capital | 20 | 20 | 27 | 27 | 20 | 0 | 19 | 0 | 0 | 0 | 0 | 0 | |
390 | 357 | 328 | 273 | 256 | 181 | 200 | 206 | 216 | 181 | 205 | 190 | 195 | |
75 | 97 | 120 | 168 | 194 | 139 | 209 | 193 | 143 | 150 | 166 | 139 | 155 | |
Total Liabilities | 534 | 526 | 527 | 530 | 578 | 690 | 811 | 884 | 882 | 883 | 1,001 | 1,004 | 1,082 |
302 | 292 | 278 | 268 | 279 | 300 | 306 | 314 | 440 | 438 | 434 | 439 | 435 | |
CWIP | 0 | 0 | 0 | 10 | 4 | 0 | 6 | 54 | 0 | 10 | 8 | 10 | 12 |
Investments | 7 | 7 | 7 | 7 | 8 | 66 | 39 | 8 | 8 | 8 | 11 | 175 | 179 |
226 | 226 | 243 | 245 | 287 | 324 | 459 | 508 | 434 | 427 | 549 | 381 | 457 | |
Total Assets | 534 | 526 | 527 | 530 | 578 | 690 | 811 | 884 | 882 | 883 | 1,001 | 1,004 | 1,082 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
31 | 81 | 59 | 83 | 50 | 50 | 4 | 78 | 87 | 79 | 52 | 227 | |
-12 | -5 | -14 | -6 | -30 | -122 | -15 | -60 | -39 | -21 | -35 | -156 | |
-20 | -73 | -44 | -77 | -20 | 75 | 14 | -17 | -50 | -45 | 11 | -73 | |
Net Cash Flow | -1 | 2 | 0 | 0 | 0 | 2 | 2 | 1 | -2 | 13 | 28 | -2 |
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 | 52 | 44 | 45 | 59 | 59 | 80 | 92 | 57 | 41 | 59 | 31 | 16 |
Inventory Days | 296 | 268 | 219 | 187 | 226 | 152 | 305 | 319 | 267 | 523 | 432 | 228 |
Days Payable | 3 | 92 | 109 | 182 | 201 | 99 | 151 | 130 | 88 | 159 | 120 | 54 |
Cash Conversion Cycle | 344 | 219 | 155 | 64 | 83 | 133 | 246 | 245 | 220 | 422 | 343 | 190 |
Working Capital Days | 152 | 29 | 50 | 48 | 60 | 99 | 149 | 129 | 124 | 178 | 146 | 80 |
ROCE % | 10% | 9% | 11% | 14% | 18% | 21% | 16% | 17% | 10% | 9% | 17% | 16% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14h - Certificate under Regulation 74(5) of SEBI(Depositories and Participants) Regulations,2018 for the quarter ended March 2024.
- Closure of Trading Window 26 Mar
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
19 Feb - Earning Call Transcript of the Concall meeting held on 14.02.2024.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 Feb - Audio Transcript of Analyst call to discuss the Financial Results (standalone and consolidated) for the quarter ended 31st December 2023
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Announcement under Regulation 30 (LODR)-Investor Presentation
13 Feb - Copy of Financial Presentation for Q 3 FY24 results of the Company.
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from bse
Concalls
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021Transcript PPT
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Feb 2021Transcript PPT
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Nov 2020Transcript PPT
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Sep 2020Transcript PPT
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Jul 2020Transcript PPT
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Feb 2020Transcript PPT
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Nov 2019Transcript PPT
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Aug 2019Transcript PPT
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Jul 2019TranscriptPPT
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May 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Mar 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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Jun 2018Transcript PPT
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Mar 2018Transcript PPT
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Feb 2018TranscriptNotesPPT
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Dec 2017Transcript PPT
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Nov 2017TranscriptNotesPPT
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Aug 2017Transcript PPT
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Jun 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
Business Segments