SPML Infra Ltd
Incorporated in 1981, SPML Infra Ltd is in the business of infrastructure development[1]
- Market Cap ₹ 1,666 Cr.
- Current Price ₹ 230
- High / Low ₹ 323 / 136
- Stock P/E 35.3
- Book Value ₹ 108
- Dividend Yield 0.00 %
- ROCE 8.91 %
- ROE 7.78 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 48.6% CAGR over last 5 years
Cons
- The company has delivered a poor sales growth of -14.7% over past five years.
- Company has a low return on equity of 3.31% over last 3 years.
- Promoters have pledged or encumbered 27.1% of their holding.
- Earnings include an other income of Rs.56.1 Cr.
- Company has high debtors of 187 days.
- Working capital days have increased from 61.0 days to 131 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 Construction Construction Civil Construction
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,502 | 1,824 | 2,035 | 2,276 | 2,049 | 2,012 | 1,706 | 683 | 952 | 883 | 1,319 | 771 | 720 | |
| 1,403 | 1,672 | 1,833 | 2,100 | 1,833 | 1,843 | 1,630 | 690 | 957 | 854 | 1,301 | 728 | 681 | |
| Operating Profit | 100 | 152 | 202 | 176 | 217 | 169 | 76 | -7 | -6 | 29 | 18 | 43 | 38 | 
| OPM % | 7% | 8% | 10% | 8% | 11% | 8% | 4% | -1% | -1% | 3% | 1% | 6% | 5% | 
| 89 | 83 | 53 | 99 | 73 | 68 | 112 | -43 | 30 | 28 | 41 | 54 | 56 | |
| Interest | 168 | 198 | 225 | 260 | 214 | 161 | 157 | 67 | 22 | 50 | 57 | 39 | 38 | 
| Depreciation | 27 | 24 | 27 | 21 | 17 | 11 | 11 | 6 | 4 | 3 | 2 | 1 | 1 | 
| Profit before tax | -6 | 13 | 3 | -6 | 60 | 65 | 21 | -122 | -1 | 3 | -0 | 57 | 55 | 
| Tax % | 28% | 69% | 361% | -100% | 19% | 38% | 71% | -4% | -89% | 88% | 600% | 15% | |
| -12 | 2 | -11 | -4 | 50 | 40 | 7 | -117 | -0 | 0 | -2 | 48 | 47 | |
| EPS in Rs | -3.41 | 0.26 | -1.63 | -2.33 | 13.75 | 10.84 | 1.80 | -31.98 | 0.08 | 0.09 | -1.42 | 6.70 | 6.97 | 
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -8% | 
| 5 Years: | -15% | 
| 3 Years: | -7% | 
| TTM: | -39% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 37% | 
| 5 Years: | 49% | 
| 3 Years: | 431% | 
| TTM: | 1108% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% | 
| 5 Years: | 95% | 
| 3 Years: | 95% | 
| 1 Year: | 6% | 
| Return on Equity | |
|---|---|
| 10 Years: | 3% | 
| 5 Years: | 2% | 
| 3 Years: | 3% | 
| Last Year: | 8% | 
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 10 | 11 | 15 | 
| Reserves | 450 | 464 | 460 | 372 | 457 | 412 | 376 | 254 | 277 | 315 | 450 | 755 | 
| 1,019 | 842 | 1,206 | 1,236 | 1,406 | 1,446 | 1,528 | 1,844 | 1,846 | 1,771 | 549 | 369 | |
| 1,111 | 1,389 | 1,580 | 1,382 | 1,496 | 1,630 | 1,086 | 615 | 673 | 696 | 883 | 828 | |
| Total Liabilities | 2,588 | 2,703 | 3,253 | 2,998 | 3,367 | 3,496 | 2,998 | 2,720 | 2,805 | 2,793 | 1,892 | 1,967 | 
| 208 | 319 | 643 | 308 | 303 | 291 | 122 | 117 | 133 | 129 | 42 | 6 | |
| CWIP | 442 | 87 | 96 | 54 | 48 | 46 | 56 | 56 | 56 | 56 | 0 | 0 | 
| Investments | 133 | 180 | 142 | 194 | 152 | 172 | 119 | 70 | 65 | 59 | 38 | 39 | 
| 1,805 | 2,116 | 2,372 | 2,442 | 2,863 | 2,986 | 2,701 | 2,478 | 2,551 | 2,549 | 1,812 | 1,922 | |
| Total Assets | 2,588 | 2,703 | 3,253 | 2,998 | 3,367 | 3,496 | 2,998 | 2,720 | 2,805 | 2,793 | 1,892 | 1,967 | 
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -111 | 258 | 295 | -161 | 234 | 178 | -3 | -302 | -19 | 20 | 594 | -84 | |
| -165 | -69 | 99 | 89 | 78 | 3 | 259 | 91 | 36 | 46 | 23 | -90 | |
| 263 | -182 | -390 | 69 | -330 | -168 | -273 | 231 | -16 | -87 | -410 | 76 | |
| Net Cash Flow | -14 | 7 | 4 | -3 | -18 | 12 | -17 | 19 | 1 | -21 | 208 | -99 | 
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 100 | 141 | 166 | 104 | 116 | 123 | 100 | 651 | 468 | 190 | 112 | 187 | 
| Inventory Days | 21 | 13 | 23 | 20 | 27 | 19 | 20 | 155 | 153 | 549 | 136 | 287 | 
| Days Payable | 237 | 231 | 346 | 250 | 330 | 268 | 200 | 842 | 715 | 2,581 | 1,358 | 2,735 | 
| Cash Conversion Cycle | -116 | -77 | -156 | -125 | -188 | -126 | -80 | -36 | -94 | -1,842 | -1,110 | -2,261 | 
| Working Capital Days | -107 | -76 | -40 | -85 | -3 | -14 | 5 | 15 | 34 | 25 | 27 | 131 | 
| ROCE % | 11% | 14% | 15% | 15% | 15% | 11% | 9% | 3% | 1% | 3% | 4% | 9% | 
Documents
Announcements
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          Announcement under Regulation 30 (LODR)-Press Release / Media Release
          
            2d - ₹205 crore to ₹505 crore credit sanction by PSU bank; BG limits approved, announced 29 Oct 2025.
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 13 Oct
- 
        
          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            10 Oct - Compliance Certificate for Quarter ended 30th September 2025
- 
        
          Announcement under Regulation 30 (LODR)-Credit Rating
          
            6 Oct - ICRA (30 Sep 2025) reaffirmed/assigned ratings for Rs1,038cr facilities: term loan Rs408cr; non-fund Rs500cr; cash credit Rs5cr; facilities Rs125cr.
- 
        
          Announcement under Regulation 30 (LODR)-Allotment
          
            6 Oct - Allotment of 562,303 shares on 06-Oct-2025 at Rs118.56 each to promoter Zoom Industrial.
Annual reports
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      Financial Year 2025
      from bse
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      Financial Year 2024
      from bse
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      Financial Year 2023
      from bse
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      Financial Year 2022
      from bse
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      Financial Year 2021
      from bse
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      Financial Year 2020
      from bse
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      Financial Year 2019
      from bse
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      Financial Year 2018
      from bse
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      Financial Year 2017
      from bse
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      Financial Year 2016
      from bse
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      Financial Year 2015
      from bse
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      Financial Year 2014
      from bse
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      Financial Year 2013
      from bse
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      Financial Year 2012
      from bse
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      Financial Year 2011
      from nse
Concalls
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      Aug 2025Transcript PPT REC
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      Jun 2025Transcript PPT REC
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      Apr 2025TranscriptNotesPPT
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      Feb 2025Transcript PPT
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      Nov 2024Transcript PPT
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      Nov 2024TranscriptPPT
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      Aug 2024Transcript PPT
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      Jun 2024Transcript PPT
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      Apr 2024TranscriptNotesPPT
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      Jan 2018TranscriptNotesPPT
Business Overview:[1][2]
SPML is a leading infrastructure development company in India, certified to ISO standards, with a diverse portfolio spanning over 650 projects nationwide. They specialize in water treatment, power transmission, waste management, and civil infrastructure, securing contracts from government departments across Delhi, Uttar Pradesh, Rajasthan, Bihar, Gujarat, Maharashtra, and Karnataka.