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 17.7
- Book Value ₹ 287
- Dividend Yield 0.53 %
- ROCE 14.6 %
- ROE 12.6 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 50.0 to 35.5 days.
- Company's working capital requirements have reduced from 133 days to 95.8 days
Cons
- The company has delivered a poor sales growth of 10.2% over past five years.
- Company has a low return on equity of 11.7% over last 3 years.
- Dividend payout has been low at 7.50% of profits 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
399 | 425 | 450 | 471 | 532 | 632 | 662 | 825 | 808 | 652 | 859 | 1,078 | 1,067 | |
339 | 370 | 386 | 403 | 447 | 528 | 555 | 691 | 724 | 547 | 707 | 935 | 911 | |
Operating Profit | 60 | 55 | 64 | 69 | 85 | 104 | 106 | 134 | 84 | 105 | 152 | 143 | 157 |
OPM % | 15% | 13% | 14% | 15% | 16% | 16% | 16% | 16% | 10% | 16% | 18% | 13% | 15% |
1 | 0 | 1 | 7 | -12 | 21 | 16 | 3 | 13 | 1 | 9 | 23 | 17 | |
Interest | 40 | 34 | 36 | 31 | 25 | 18 | 29 | 6 | 23 | 14 | 12 | 19 | 23 |
Depreciation | 16 | 17 | 18 | 20 | 20 | 19 | 22 | 22 | 30 | 32 | 35 | 36 | 37 |
Profit before tax | 5 | 4 | 12 | 24 | 28 | 87 | 71 | 109 | 44 | 59 | 115 | 111 | 113 |
Tax % | -97% | 51% | 46% | 60% | 33% | 38% | 33% | 33% | -6% | 27% | 26% | 26% | |
9 | 2 | 6 | 10 | 19 | 54 | 48 | 73 | 47 | 43 | 85 | 83 | 82 | |
EPS in Rs | 5.78 | 1.40 | 3.97 | 5.98 | 10.98 | 21.30 | 19.00 | 28.56 | 18.26 | 16.80 | 32.96 | 32.88 | 32.60 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 0% | 0% | 13% | 0% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 10% |
3 Years: | 10% |
TTM: | 1% |
Compounded Profit Growth | |
---|---|
10 Years: | 44% |
5 Years: | 12% |
3 Years: | 14% |
TTM: | -6% |
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: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 41 | 44 | 50 | 59 | 96 | 332 | 372 | 458 | 498 | 533 | 612 | 649 | 695 |
Preference Capital | 20 | 20 | 27 | 27 | 20 | 0 | 19 | 0 | 0 | 0 | 0 | 0 | |
392 | 360 | 331 | 276 | 259 | 185 | 204 | 211 | 226 | 194 | 231 | 245 | 258 | |
89 | 111 | 127 | 167 | 189 | 134 | 208 | 192 | 143 | 160 | 193 | 179 | 186 | |
Total Liabilities | 539 | 531 | 525 | 520 | 561 | 677 | 810 | 887 | 892 | 912 | 1,062 | 1,097 | 1,164 |
282 | 299 | 285 | 275 | 277 | 299 | 307 | 317 | 444 | 444 | 450 | 459 | 455 | |
CWIP | 26 | 0 | 0 | 0 | 4 | 0 | 6 | 54 | 0 | 10 | 8 | 10 | 12 |
Investments | 1 | 1 | 1 | 1 | 1 | 58 | 31 | 0 | 0 | 0 | 3 | 113 | 117 |
230 | 230 | 240 | 244 | 280 | 319 | 465 | 515 | 448 | 458 | 602 | 515 | 581 | |
Total Assets | 539 | 531 | 525 | 520 | 561 | 677 | 810 | 887 | 892 | 912 | 1,062 | 1,097 | 1,164 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
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 | 79 | 58 | 84 | 49 | 26 | -1 | 82 | 83 | 80 | 27 | 216 | |
-12 | -8 | -14 | -6 | -28 | -116 | -15 | -60 | -39 | -21 | -29 | -160 | |
-20 | -69 | -44 | -77 | -20 | 92 | 19 | -17 | -45 | -42 | 24 | -48 | |
Net Cash Flow | -1 | 2 | 0 | 1 | 1 | 2 | 3 | 5 | -1 | 17 | 21 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 44 | 58 | 56 | 78 | 91 | 57 | 42 | 65 | 49 | 35 |
Inventory Days | 298 | 270 | 221 | 190 | 228 | 147 | 268 | 277 | 233 | 327 | 342 | 223 |
Days Payable | 131 | 134 | 131 | 173 | 209 | 101 | 145 | 122 | 86 | 123 | 116 | 74 |
Cash Conversion Cycle | 219 | 180 | 134 | 74 | 75 | 123 | 215 | 212 | 189 | 269 | 275 | 184 |
Working Capital Days | 139 | 112 | 99 | 42 | 53 | 98 | 141 | 119 | 116 | 152 | 150 | 96 |
ROCE % | 9% | 11% | 14% | 18% | 23% | 17% | 18% | 11% | 10% | 16% | 15% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
23h - 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
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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
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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