SPML Infra Ltd
Incorporated in 1981, SPML Infra Ltd is in the business of infrastructure development[1]
- Market Cap ₹ 2,033 Cr.
- Current Price ₹ 284
- High / Low ₹ 323 / 136
- Stock P/E 43.1
- Book Value ₹ 108
- Dividend Yield 0.00 %
- ROCE 8.92 %
- ROE 7.79 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 48.7% CAGR over last 5 years
Cons
- Stock is trading at 2.64 times its book value
- The company has delivered a poor sales growth of -14.7% over past five years.
- Company has a low return on equity of 3.32% 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.
- Promoter holding has decreased over last 3 years: -4.66%
- Working capital days have increased from 57.3 days to 117 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
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: | 15% |
5 Years: | 94% |
3 Years: | 87% |
1 Year: | 18% |
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 | 28 |
Days Payable | 237 | 231 | 346 | 250 | 330 | 268 | 200 | 842 | 715 | 2,581 | 1,317 | 263 |
Cash Conversion Cycle | -116 | -77 | -156 | -125 | -188 | -126 | -80 | -36 | -94 | -1,842 | -1,070 | -48 |
Working Capital Days | -107 | -76 | -40 | -85 | -3 | -14 | 5 | 15 | 34 | 25 | 30 | 117 |
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 (Revised)
2m - SPML Infra Leadership Transition: Driving Growth and Future Resilience
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
3h - COO Abhinandan Sethi appointed MD for five years; Subhash becomes Non-Executive Chairman (Sep 4, 2025).
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Announcement under Regulation 30 (LODR)-Change in Management
18h - 03 Sep 2025: Abhinandan Sethi appointed MD (5 years), Subhash Sethi becomes Non-Executive Chairman; Rajeev Jain appointed Independent Director.
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Board Meeting Outcome for Board Meeting Held For Other Business Items
18h - 03 Sep 2025: Abhinandan Sethi appointed MD five-year term; Subhash Sethi becomes Non-Executive Chairman; Rajeev Jain independent director (1 year).
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In Terms Of The Regulation 36(1) (B) Of The SEBI (LODR) Regulations, 2015, We Would Like To Inform You That A Letter, Provides The Weblink For Accessing The Annual Report For The Financial Year 2024-25 On The Company'S Website, Has Been Sent To Those Shareholders Whose E-Mail Addresses Are Not Registered With The Company, Registrar And Transfer Agent, Or Depository Participants. A Copy Of The Said Letter Is Enclosed Herewith For Your Reference
21h - 44th AGM on 24 Sep 2025; annual report FY2024-25 accessible via company web link.
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 2025TranscriptPPTREC
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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.