SPML Infra Ltd

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SPML Infra Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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SPML Infra Ltd

₹ 156 -1.86%
13 Nov 10:23 a.m.
spml.co.in BSE: 500402 NSE: SPMLINFRA
About

Incorporated in 1981, SPML Infra Ltd is in the business of infrastructure development[1]

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 1,323 Cr.
  • Current Price ₹ 156
  • High / Low ₹ 235 / 124
  • Stock P/E 14.4
  • Book Value ₹ 134
  • Dividend Yield 0.00 %
  • ROCE 6.47 %
  • ROE 8.28 %
  • Face Value ₹ 2.00
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Pros

  • Stock is trading at 1.20 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 54.5% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 4.93% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 6.12% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 216 days.
  • Working capital days have increased from 102 days to 159 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 Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
254 252 461 207 189 188 189 156 190 230 291 284 234
254 256 444 195 176 178 179 149 179 205 270 257 213
Operating Profit 0 -4 18 12 13 10 10 7 11 25 20 27 21
OPM % 0.1% -1.4% 3.8% 6% 7% 5% 5% 4.6% 6% 11% 7% 9% 9%
3 9 29 15 12 4 12 17 8 1 3 1 4
Interest 2 3 50 10 9 1 10 9 0 5 2 5 3
Depreciation 1 1 1 0 0 0 0 0 0 1 1 1 1
Profit before tax 1 2 -4 16 16 12 13 15 19 20 20 23 22
Tax % 68% 40% -7% 19% 17% 18% 4% 19% 21% 0% -33% 0% 0%
0 1 -4 13 13 10 12 12 15 20 27 23 22
EPS in Rs 0.07 0.23 -1.81 2.18 2.20 1.40 1.68 1.69 2.10 2.66 3.45 2.70 2.55
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,824 2,035 2,276 2,049 2,012 1,706 683 952 883 1,319 777 868 1,039
1,672 1,833 2,100 1,833 1,843 1,630 690 947 854 1,301 728 803 946
Operating Profit 152 202 176 217 169 76 -7 5 29 18 49 65 93
OPM % 8% 10% 8% 11% 8% 4.5% -1.1% 0.5% 3.3% 1.4% 6% 8% 9%
83 53 99 73 68 112 -43 30 28 41 12 19 11
Interest 198 225 260 214 161 157 67 33 50 57 4 8 15
Depreciation 24 27 21 17 11 11 6 4 3 2 1 2 3
Profit before tax 13 3 -6 60 65 21 -123 -2 3 -0 57 75 85
Tax % 69% 361% -100% 19% 38% 71% -4% -65% 88% 600% 15% 0%
2 -11 -4 50 40 7 -117 0 0 -2 48 75 92
EPS in Rs 0.26 -1.63 -2.33 13.75 10.84 1.80 -31.98 0.08 0.09 -1.42 6.70 9.47 11.36
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -8%
5 Years: 5%
3 Years: -1%
TTM: 44%
Compounded Profit Growth
10 Years: 22%
5 Years: 55%
3 Years: 467%
TTM: 87%
Stock Price CAGR
10 Years: 11%
5 Years: 67%
3 Years: 40%
1 Year: -23%
Return on Equity
10 Years: 4%
5 Years: 5%
3 Years: 6%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 8 8 8 8 8 8 8 9 10 11 15 17 18
Reserves 464 460 372 457 412 376 254 277 315 450 755 932 1,115
842 1,206 1,236 1,406 1,446 1,528 1,844 1,846 1,771 549 369 358 326
1,389 1,580 1,382 1,496 1,630 1,086 615 667 696 883 828 990 1,072
Total Liabilities 2,703 3,253 2,998 3,367 3,496 2,998 2,720 2,799 2,793 1,892 1,967 2,296 2,531
319 643 308 303 291 122 117 133 129 42 6 43 43
CWIP 87 96 54 48 46 56 56 56 56 0 0 64 157
Investments 180 142 194 152 172 119 70 65 59 38 39 36 36
2,116 2,372 2,442 2,863 2,986 2,701 2,478 2,545 2,549 1,812 1,922 2,154 2,296
Total Assets 2,703 3,253 2,998 3,367 3,496 2,998 2,720 2,799 2,793 1,892 1,967 2,296 2,531

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
258 295 -161 234 178 -3 -302 -19 20 594 -85 -113
-69 99 89 78 3 259 91 36 46 23 -90 -2
-182 -390 69 -330 -168 -273 231 -16 -87 -410 77 49
Net Cash Flow 7 4 -3 -18 12 -17 19 1 -21 208 -99 -66
Free Cash Flow 240 303 -160 229 148 157 -300 -16 30 561 -85 -179
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 189% 153% -85% 99% 147% 4% 4,179% -432% 125% 3,137% -180% -184%

Ratios

Consolidated / View Standalone

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 141 166 104 116 123 100 651 468 190 112 186 216
Inventory Days 13 23 20 27 19 20 155 153 549 136 287 414
Days Payable 231 346 250 330 268 200 842 715 2,581 1,317 2,735 2,084
Cash Conversion Cycle -77 -156 -125 -188 -126 -80 -36 -94 -1,842 -1,070 -2,262 -1,454
Working Capital Days -76 -40 -85 -3 -14 5 15 32 25 30 116 159
ROCE % 14% 15% 15% 15% 11% 9% 3% 1% 3% 4% 6% 6%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Aug 2026 Mar 2028 (P)
Order Book
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BESS Manufacturing Capacity
GWh ・Standalone data
New Order Inflow (Water + BESS)
Rs Crore
Legacy Order Book
Rs Crore

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Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
39.35% 39.35% 35.93% 35.93% 34.80% 35.21% 35.12% 35.12% 37.79% 40.19% 40.85% 40.51%
0.00% 0.41% 0.59% 0.97% 0.76% 0.70% 0.34% 0.27% 0.15% 0.36% 0.33% 0.42%
2.34% 2.34% 1.93% 1.93% 1.72% 1.70% 1.76% 1.98% 1.79% 1.89% 1.82% 1.90%
58.31% 57.92% 61.55% 61.17% 62.72% 62.37% 62.79% 62.64% 60.28% 57.57% 57.01% 57.17%
No. of Shareholders 9,6199,50610,36513,34714,08114,21415,78420,78820,59022,44226,07925,646

* 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.

Click on the line-items to see the names of individual entities.

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