Spectrum Electrical Industries Ltd

₹ 1,465 -5.65%

01 Apr - close price

Company website BSE: 544386 NSE: SPECTRUM

About

Spectrum Electrical Industries Limited, incorporated in 1995, is engaged in the business of Injection Moulding, manufacturing of Electrical Press Components and Surface treatment of Automobile, Electrical and Stamped parts. ^[1]

Key Points

Business Verticals FY24

Website BSE NSE

Market Cap ₹ 2,335 Cr.
Current Price ₹ 1,465
High / Low ₹ 2,037 / 1,006
Stock P/E 63.8
Book Value ₹ 137
Dividend Yield 0.00 %
ROCE 15.7 %
ROE 13.7 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 39.0% CAGR over last 5 years
Company's working capital requirements have reduced from 21.8 days to 12.3 days

Cons

Stock is trading at 10.7 times its book value
Company has a low return on equity of 13.2% over last 3 years.
Debtor days have increased from 88.2 to 106 days.

* 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 Manufacturing Industrial Products

Part of BSE Allcap BSE Industrials

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	126.33	73.04	82.09	69.86	172.09	84.55	116.06	119.70
	113.28	63.46	73.99	59.86	147.44	72.95	101.30	101.44
Operating Profit	13.05	9.58	8.10	10.00	24.65	11.60	14.76	18.26
OPM %	10.33%	13.12%	9.87%	14.31%	14.32%	13.72%	12.72%	15.25%
	2.12	0.37	2.03	1.09	1.09	2.48	1.75	1.20
Interest	4.59	3.23	2.31	3.65	4.14	4.54	2.54	4.71
Depreciation	2.27	2.31	2.74	2.16	2.17	2.74	2.76	2.84
Profit before tax	8.31	4.41	5.08	5.28	19.43	6.80	11.21	11.91
Tax %	28.64%	49.43%	14.17%	36.74%	30.98%	10.44%	29.26%	22.67%
	5.93	2.23	4.36	3.34	13.41	6.09	7.93	9.20
EPS in Rs	3.80	1.43	2.79	2.14	8.59	3.90	5.05	5.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0	0	2	7	120	147	141	151	251	253	322	397	492
	0	0	2	5	103	129	126	133	226	230	282	345	423
Operating Profit	0	0	0	1	16	18	15	19	25	23	40	52	69
OPM %			23%	19%	14%	12%	10%	12%	10%	9%	12%	13%	14%
	0	0	0	0	0	1	1	2	1	5	6	5	7
Interest	0	0	0	0	4	3	3	6	8	7	10	13	16
Depreciation	0	0	0	0	4	6	6	6	8	9	10	9	11
Profit before tax	0	0	0	1	8	10	6	8	11	12	27	35	49
Tax %			23%	20%	27%	28%	28%	28%	28%	28%	28%	31%
	0	0	0	1	6	7	5	6	8	8	19	24	37
EPS in Rs	0.00	0.00	6.01	10.62	52.96	4.85	3.10	3.91	5.06	5.57	12.29	15.56	23.39
Dividend Payout %			0%	0%	0%	0%	0%	26%	20%	0%	8%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	23%
3 Years:	16%
TTM:	40%

Compounded Profit Growth
10 Years:	%
5 Years:	39%
3 Years:	47%
TTM:	131%

Stock Price CAGR
10 Years:	%
5 Years:	91%
3 Years:	62%
1 Year:	-27%

Return on Equity
10 Years:	12%
5 Years:	12%
3 Years:	13%
Last Year:	14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	0.01	0.01	5	5	11	15	15	15	15	15	16	16	16
Reserves	0	0	0	1	23	51	56	62	68	77	149	174	200
	0	0	8	11	38	46	67	77	77	84	93	166	164
	0	0	2	8	35	31	22	34	56	64	58	69	77
Total Liabilities	0	0	15	25	108	143	159	188	216	239	316	424	457
	0	0	2	6	50	45	45	70	80	75	82	128	127
CWIP	0	0	9	14	0	6	20	1	3	7	10	19	34
Investments	0	0	0	0	4	9	10	14	15	16	3	5	5
	0	0	5	5	54	83	84	103	117	141	221	272	291
Total Assets	0	0	15	25	108	143	159	188	216	239	316	424	457

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	0	-2	9	-9	-17	3	12	24	8	-14	-18
	0	0	-5	-10	-35	-12	-20	-11	-21	-3	-34	-40
	0	0	8	2	44	29	18	5	-9	0	52	49
Net Cash Flow	0	0	1	1	-0	0	1	6	-6	6	4	-8
Free Cash Flow	0	0	-7	-1	-44	-24	-17	-0	3	1	-27	-68
CFO/OP			-358%	742%	-42%	-83%	36%	76%	106%	50%	-15%	-15%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days			0	0	69	63	61	61	50	67	91	106
Inventory Days			190	95	106	139	157	207	135	143	102	99
Days Payable			190	695	148	98	55	86	78	102	61	56
Cash Conversion Cycle			0	-601	26	105	163	183	107	108	133	150
Working Capital Days			461	-281	-1	36	42	34	26	20	33	12
ROCE %	0%	0%		6%	28%	14%	8%	10%	12%	11%	17%	16%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2023

Mar 2024

Dec 2025

Injection Moulding Capacity (Metric Tonnes per annum)
MT

xxx	xxx	xxx	x,xxx
xx	xx	xx	xx
				xxx	xxx	x,xxx
				xx	xx
				xx	xx
					x
						x,xxx
					xx

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Injection Moulding Capacity Utilization
%

Workforce Size (Employees)
Number

Injection Moulding Machine Count
Nos

Stamping Machine Count
Nos

Active ODM Projects
Nos

EV Charger Manufacturing Capacity per Annum (Target/Current)
Nos

Number of Manufacturing Facilities
Nos

Shareholding Pattern

Numbers in percentages

	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	68.91%	69.48%	71.45%	71.45%	71.45%	74.88%	72.53%	72.53%	72.54%	72.54%	72.72%	72.72%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	2.51%	2.69%	3.67%	4.11%	4.33%	4.66%
	0.00%	0.00%	0.00%	0.00%	0.07%	0.00%	0.31%	0.33%	0.34%	0.34%	0.34%	0.34%
	31.09%	30.51%	28.55%	28.55%	28.48%	24.56%	24.64%	24.45%	23.44%	23.01%	22.61%	22.28%
No. of Shareholders	101	109	104	109	170	272	628	1,166	1,217	1,631	1,802	1,925

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	68.64%	68.64%	68.91%	71.45%	71.45%	72.53%	72.54%	72.72%
	0.00%	0.00%	0.00%	0.00%	0.00%	2.51%	3.67%	4.66%
	0.00%	0.00%	0.00%	0.00%	0.07%	0.31%	0.34%	0.34%
	31.38%	31.37%	31.09%	28.55%	28.48%	24.64%	23.44%	22.28%
No. of Shareholders	121	116	101	104	170	628	1,217	1,925

* 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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Spectrum Electrical Industries Ltd

Spectrum Electrical Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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