S P Apparels Ltd

S P Apparels Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

S P Apparels Ltd

₹ 750 0.05%
27 May - close price
spapparels.com BSE: 540048 NSE: SPAL
About

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]

Key Points

Business Profile:[1]
The company, headquartered near Tirupur, Tamil Nadu, is an end-to-end manufacturer
and exporter of knitted garments. It specializes
in infant and children’s wear and has recently expanded into adult apparel. Also, it is one of the India’s largest manufacturer and exporter of infantwear.

Website BSE NSE
  • Market Cap ₹ 1,886 Cr.
  • Current Price ₹ 750
  • High / Low ₹ 990 / 585
  • Stock P/E 21.5
  • Book Value ₹ 374
  • Dividend Yield 0.27 %
  • ROCE 12.5 %
  • ROE 9.76 %
  • Face Value ₹ 10.0
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Pros

  • Company's working capital requirements have reduced from 41.7 days to 28.2 days

Cons

  • Company has a low return on equity of 10.9% 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

Consumer Discretionary Textiles Textiles & Apparels Garments & Apparels

Part of BSE Consumer Discretionary

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
235 218 251 224 255 214 256 234 278 290 308 264 252
192 177 202 186 215 177 216 195 232 245 254 224 208
Operating Profit 43 41 50 37 40 37 40 39 46 45 54 40 43
OPM % 18% 19% 20% 17% 16% 17% 16% 17% 16% 15% 17% 15% 17%
2 4 5 5 2 2 1 1 3 1 2 3 1
Interest 6 5 3 4 1 3 7 4 6 7 8 6 6
Depreciation 8 9 9 9 9 9 9 9 9 10 10 11 11
Profit before tax 30 32 42 29 32 27 25 26 33 29 37 25 28
Tax % 24% 31% 23% 24% 17% 16% 28% 31% 26% 32% 27% 24% 23%
23 22 33 22 27 23 18 18 25 20 27 19 21
EPS in Rs 9.27 8.68 13.10 8.88 10.70 9.07 7.19 7.18 9.86 7.93 10.88 7.69 8.49
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
474 536 619 627 777 757 536 735 942 948 982 1,113
405 447 518 523 646 675 439 580 790 780 820 932
Operating Profit 70 89 101 104 131 82 96 155 152 169 162 181
OPM % 15% 17% 16% 17% 17% 11% 18% 21% 16% 18% 16% 16%
7 -12 21 16 3 13 1 1 19 15 7 7
Interest 31 25 18 29 6 22 13 11 16 13 20 27
Depreciation 20 21 21 24 23 32 30 32 34 35 37 41
Profit before tax 25 31 83 68 105 41 54 113 122 136 112 120
Tax % 57% 34% 40% 38% 33% -8% 28% 26% 25% 24% 25% 27%
11 20 49 42 70 44 39 83 92 104 84 88
EPS in Rs 6.50 11.95 19.65 16.69 27.16 17.14 15.05 32.38 36.59 41.35 33.29 34.94
Dividend Payout % 0% 0% 3% 3% 0% 0% 15% 0% 8% 0% 0% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 16%
3 Years: 6%
TTM: 13%
Compounded Profit Growth
10 Years: 11%
5 Years: 18%
3 Years: -1%
TTM: 6%
Stock Price CAGR
10 Years: %
5 Years: 30%
3 Years: 22%
1 Year: -13%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 11%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 17 17 25 25 26 26 26 26 25 25 25 25
Reserves 72 111 345 377 460 496 526 604 650 754 835 914
300 276 181 219 206 216 181 205 190 128 257 290
141 174 139 190 193 143 150 166 139 139 152 145
Total Liabilities 530 578 690 811 884 882 883 1,001 1,004 1,046 1,269 1,375
268 279 300 306 314 440 438 434 439 434 449 542
CWIP 10 4 0 6 54 0 10 8 10 19 31 4
Investments 7 8 66 39 8 8 8 11 175 114 224 242
245 287 324 459 508 434 427 549 381 480 565 587
Total Assets 530 578 690 811 884 882 883 1,001 1,004 1,046 1,269 1,375

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
83 50 50 4 78 87 79 52 227 98 43 169
-6 -30 -122 -15 -60 -39 -21 -35 -156 -4 -183 -147
-77 -20 75 14 -17 -50 -45 11 -73 -81 110 2
Net Cash Flow 0 0 2 2 1 -2 13 28 -2 13 -30 23
Free Cash Flow 69 24 7 -35 -8 36 35 14 180 46 -32 76
CFO/OP 124% 63% 73% 24% 70% 122% 97% 49% 167% 78% 42% 110%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 59 59 80 92 57 41 59 31 16 32 39 37
Inventory Days 187 226 152 305 319 267 523 432 228 228 331 223
Days Payable 182 201 99 151 130 88 159 120 54 65 79 57
Cash Conversion Cycle 64 83 133 246 245 220 422 343 190 195 290 203
Working Capital Days -73 -50 20 45 48 53 90 77 19 53 44 28
ROCE % 14% 18% 21% 16% 17% 10% 9% 17% 16% 16% 13% 13%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Export Volumes (Garment Division)
Million Pieces

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Exclusive Retail Stores (Standalone/EBO)
Number
Total Retail Network Points (LFO, EBO, SIS)
Number
Capacity Utilization (Garment Division)
Percentage
Net Sales Realization - Garments
INR per piece
Total Sewing Machines (Installed)
Number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93% 61.81%
1.07% 1.50% 1.39% 1.53% 1.59% 1.64% 1.83% 1.81% 1.83% 1.49% 1.83% 1.48%
17.60% 18.47% 19.08% 18.87% 19.25% 19.56% 19.84% 19.68% 19.92% 19.79% 18.72% 16.57%
19.41% 18.12% 17.61% 17.68% 17.23% 16.88% 16.40% 16.59% 16.32% 16.80% 17.52% 20.13%
No. of Shareholders 17,77017,20316,37615,67715,36716,10516,82316,81116,85817,09515,74317,082

* 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.

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