WEBSITE BSE:540048 NSE: SPAL Inc. Year: 2005 Industry: Textile My Bucket: Add Stock
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S.P. Apparels Ltd is an primarily India based organization, which is engaged inside the commercial enterprise of producing and exporting of knitted clothes for infants and children. It operates in two divisions: Retail and Garment Division. The Company manufactures and retails menswear garments in India beneath the emblem Crocodile. The Crocodile emblem for menswear include shirts, polo shirts, t-shirts, trousers, denims, sweaters, jackets, vests, briefs, boxer shorts and socks. It is engaged in end-to-end garment manufacturing services startin...Read More
S.P. Apparels Ltd is an primarily India based organization, which is engaged inside the commercial enterprise of producing and exporting of knitted clothes for infants and children. It operates in two divisions: Retail and Garment Division. The Company manufactures and retails menswear garments in India beneath the emblem Crocodile. The Crocodile emblem for menswear include shirts, polo shirts, t-shirts, trousers, denims, sweaters, jackets, vests, briefs, boxer shorts and socks. It is engaged in end-to-end garment manufacturing services starting from greige fabric to finished products. The Company owns Natalia logo, which provide merchandise in the women's crucial garments class. It has the right to manufacture, distribute and marketplace products beneath the Crocodile emblem in India. It sells the Crocodile branded merchandise via sales and distribution community and third party e-trade systems. Its subsidiaries encompass Crocodile Products Pvt Ltd and S.P. Apparels (UK) (P) Ltd. ...Read Less
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Market Cap ₹2025 Cr.
Stock P/E 21.3
P/B 2.2
Current Price ₹805.7
Book Value ₹ 368.6
Face Value 10
52W High ₹990
Dividend Yield 0.25%
52W Low ₹ 585
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 292 | 252 | 295 | 245 | 391 | 359 | 399 | 403 | 427 | 383 |
| Other Income | 6 | 5 | 2 | 3 | 2 | 3 | 4 | 2 | 7 | 6 |
| Total Income | 298 | 257 | 297 | 248 | 394 | 362 | 403 | 405 | 434 | 389 |
| Total Expenditure | 246 | 218 | 254 | 212 | 342 | 308 | 345 | 351 | 364 | 326 |
| Operating Profit | 52 | 39 | 42 | 36 | 52 | 54 | 58 | 55 | 70 | 62 |
| Interest | 4 | 5 | 3 | 5 | 11 | 8 | 10 | 12 | 10 | 10 |
| Depreciation | 10 | 9 | 9 | 10 | 11 | 11 | 11 | 11 | 12 | 12 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 |
| Profit Before Tax | 38 | 25 | 30 | 21 | 30 | 35 | 37 | 31 | 48 | 37 |
| Provision for Tax | 10 | 7 | 1 | 3 | 8 | 10 | 7 | 10 | 12 | 10 |
| Profit After Tax | 29 | 18 | 28 | 18 | 22 | 25 | 30 | 21 | 36 | 27 |
| Adjustments | -0 | -0 | -0 | 0 | 0 | -0 | 0 | -1 | -2 | 0 |
| Profit After Adjustments | 29 | 18 | 28 | 18 | 22 | 25 | 30 | 21 | 35 | 27 |
| Adjusted Earnings Per Share | 11.4 | 7 | 11.3 | 7.2 | 8.7 | 9.9 | 12.1 | 8.2 | 13.8 | 10.8 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 473 | 533 | 633 | 662 | 826 | 809 | 652 | 859 | 1081 | 1087 | 1395 | 1612 |
| Other Income | 9 | 5 | 21 | 16 | 18 | 24 | 3 | 17 | 20 | 21 | 12 | 19 |
| Total Income | 482 | 538 | 654 | 679 | 844 | 833 | 656 | 877 | 1101 | 1108 | 1407 | 1631 |
| Total Expenditure | 406 | 448 | 529 | 557 | 707 | 726 | 550 | 714 | 936 | 932 | 1207 | 1386 |
| Operating Profit | 75 | 90 | 125 | 122 | 137 | 107 | 106 | 162 | 166 | 176 | 200 | 245 |
| Interest | 31 | 25 | 18 | 29 | 6 | 23 | 14 | 13 | 19 | 20 | 33 | 42 |
| Depreciation | 20 | 20 | 19 | 22 | 22 | 30 | 32 | 35 | 36 | 38 | 43 | 46 |
| Exceptional Income / Expenses | 0 | -17 | 0 | 0 | 0 | -10 | 0 | 0 | 0 | 0 | 0 | -3 |
| Profit Before Tax | 24 | 28 | 87 | 71 | 109 | 44 | 59 | 115 | 111 | 118 | 123 | 153 |
| Provision for Tax | 15 | 9 | 33 | 23 | 36 | -3 | 16 | 30 | 28 | 28 | 28 | 39 |
| Profit After Tax | 10 | 19 | 54 | 48 | 73 | 47 | 43 | 85 | 83 | 90 | 95 | 114 |
| Adjustments | 0 | 0 | 1 | -1 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -3 |
| Profit After Adjustments | 10 | 19 | 55 | 47 | 73 | 47 | 43 | 85 | 82 | 90 | 95 | 113 |
| Adjusted Earnings Per Share | 0 | 0 | 21.8 | 18.7 | 28.6 | 18.3 | 16.8 | 33 | 32.9 | 35.7 | 37.9 | 44.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 28% | 18% | 12% | 11% |
| Operating Profit CAGR | 14% | 7% | 13% | 10% |
| PAT CAGR | 6% | 4% | 15% | 25% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 6% | 30% | 36% | NA% |
| ROE Average | 12% | 12% | 12% | 14% |
| ROCE Average | 15% | 15% | 14% | 15% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 103 | 133 | 357 | 397 | 484 | 523 | 558 | 638 | 674 | 764 | 856 |
| Minority's Interest | -5 | -6 | -7 | -6 | -6 | -6 | -6 | -7 | -6 | -6 | -6 |
| Borrowings | 73 | 68 | 40 | 34 | 26 | 62 | 21 | 36 | 11 | 6 | 42 |
| Other Non-Current Liabilities | 33 | 41 | 41 | 49 | 50 | 33 | 77 | 78 | 68 | 64 | 55 |
| Total Current Liabilities | 316 | 327 | 245 | 336 | 333 | 281 | 279 | 346 | 408 | 315 | 509 |
| Total Liabilities | 520 | 563 | 677 | 810 | 887 | 892 | 929 | 1091 | 1155 | 1142 | 1456 |
| Fixed Assets | 275 | 277 | 299 | 307 | 317 | 444 | 444 | 450 | 459 | 454 | 595 |
| Other Non-Current Assets | 24 | 33 | 15 | 19 | 84 | 20 | 32 | 45 | 73 | 87 | 120 |
| Total Current Assets | 221 | 253 | 362 | 483 | 486 | 429 | 452 | 596 | 623 | 601 | 741 |
| Total Assets | 520 | 563 | 677 | 810 | 887 | 892 | 929 | 1091 | 1155 | 1142 | 1456 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 4 | 4 | 5 | 7 | 9 | 15 | 13 | 31 | 52 | 60 | 79 |
| Cash Flow from Operating Activities | 84 | 49 | 49 | -1 | 82 | 83 | 81 | 27 | 216 | 79 | 44 |
| Cash Flow from Investing Activities | -6 | -28 | -121 | -15 | -60 | -39 | -21 | -29 | -160 | 6 | -177 |
| Cash Flow from Financing Activities | -77 | -20 | 73 | 19 | -17 | -45 | -42 | 24 | -48 | -67 | 82 |
| Net Cash Inflow / Outflow | 1 | 1 | 2 | 3 | 5 | -1 | 17 | 21 | 8 | 19 | -50 |
| Closing Cash & Cash Equivalent | 4 | 5 | 7 | 9 | 15 | 13 | 31 | 52 | 60 | 79 | 35 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 0 | 21.8 | 18.66 | 28.58 | 18.28 | 16.82 | 32.99 | 32.87 | 35.69 | 37.88 |
| CEPS(Rs) | 17.64 | 22.6 | 28.98 | 27.89 | 36.96 | 29.91 | 29.38 | 46.42 | 47.29 | 50.76 | 55.15 |
| DPS(Rs) | 0 | 0 | 0.5 | 0.5 | 0 | 0 | 2.25 | 0 | 3 | 0 | 2 |
| Book NAV/Share(Rs) | 0 | 0 | 142.04 | 157.82 | 188.32 | 203.64 | 217.33 | 248.23 | 268.45 | 304.32 | 341.12 |
| Core EBITDA Margin(%) | 14.06 | 16.01 | 16.36 | 15.97 | 14.47 | 10.28 | 15.69 | 16.87 | 13.43 | 14.27 | 13.46 |
| EBIT Margin(%) | 11.72 | 10 | 16.67 | 15.07 | 14 | 8.31 | 11.26 | 14.85 | 11.97 | 12.68 | 11.23 |
| Pre Tax Margin(%) | 5.17 | 5.25 | 13.75 | 10.73 | 13.24 | 5.49 | 9.07 | 13.36 | 10.25 | 10.82 | 8.83 |
| PAT Margin (%) | 2.05 | 3.5 | 8.47 | 7.22 | 8.88 | 5.8 | 6.62 | 9.85 | 7.63 | 8.24 | 6.82 |
| Cash Profit Margin (%) | 6.27 | 7.27 | 11.52 | 10.6 | 11.49 | 9.5 | 11.57 | 13.88 | 10.98 | 11.71 | 9.92 |
| ROA(%) | 1.85 | 3.44 | 8.65 | 6.43 | 8.65 | 5.27 | 4.74 | 8.39 | 7.35 | 8.01 | 7.32 |
| ROE(%) | 13.51 | 19.76 | 22.8 | 12.67 | 16.66 | 9.32 | 7.98 | 14.16 | 12.58 | 12.47 | 11.74 |
| ROCE(%) | 14.8 | 14.24 | 22.59 | 17.17 | 17.59 | 9.3 | 10.01 | 16.39 | 14.98 | 15.06 | 14.53 |
| Receivable days | 49.62 | 53.4 | 62.24 | 82.69 | 64.99 | 50.19 | 58.95 | 49.35 | 37.23 | 45.3 | 54.41 |
| Inventory Days | 89.81 | 80.43 | 66.29 | 79.82 | 96.12 | 107.32 | 131.24 | 121.76 | 106.2 | 94.31 | 83.16 |
| Payable days | 205.95 | 212.9 | 134.29 | 122.73 | 117.75 | 99.25 | 118.82 | 105.22 | 79.7 | 80.01 | 72.79 |
| PER(x) | 0 | 0 | 19.79 | 17.74 | 11.2 | 3.39 | 9.12 | 10.36 | 9.77 | 16.26 | 18.01 |
| Price/Book(x) | 0 | 0 | 3.04 | 2.1 | 1.7 | 0.3 | 0.71 | 1.38 | 1.2 | 1.91 | 2 |
| Dividend Yield(%) | 0 | 0 | 0.12 | 0.15 | 0 | 0 | 1.47 | 0 | 0.93 | 0 | 0.29 |
| EV/Net Sales(x) | 0.61 | 0.54 | 1.95 | 1.53 | 1.18 | 0.42 | 0.79 | 1.19 | 0.89 | 1.43 | 1.45 |
| EV/Core EBITDA(x) | 3.85 | 3.16 | 9.89 | 8.27 | 7.1 | 3.17 | 4.85 | 6.28 | 5.78 | 8.85 | 10.15 |
| Net Sales Growth(%) | 4.81 | 12.75 | 18.8 | 4.65 | 24.75 | -2.11 | -19.36 | 31.75 | 25.76 | 0.6 | 28.31 |
| EBIT Growth(%) | 17.42 | -3.85 | 98.14 | -5.43 | 15.91 | -41.92 | 9.35 | 73.7 | 1.38 | 6.57 | 13.65 |
| PAT Growth(%) | 49.81 | 92.76 | 187.41 | -10.8 | 53.46 | -36.05 | -7.99 | 96.18 | -2.58 | 8.62 | 6.11 |
| EPS Growth(%) | 0 | 0 | 159.26 | -14.42 | 53.2 | -36.06 | -7.99 | 96.2 | -0.37 | 8.59 | 6.13 |
| Debt/Equity(x) | 2.45 | 1.95 | 0.52 | 0.56 | 0.44 | 0.43 | 0.29 | 0.31 | 0.32 | 0.23 | 0.42 |
| Current Ratio(x) | 0.7 | 0.77 | 1.48 | 1.44 | 1.46 | 1.53 | 1.62 | 1.72 | 1.53 | 1.91 | 1.46 |
| Quick Ratio(x) | 0.36 | 0.38 | 1.06 | 0.88 | 0.71 | 0.72 | 0.76 | 0.76 | 0.8 | 1.07 | 0.73 |
| Interest Cover(x) | 1.79 | 2.11 | 5.71 | 3.47 | 18.53 | 2.95 | 5.13 | 9.94 | 6.95 | 6.81 | 4.68 |
| Total Debt/Mcap(x) | 0 | 0 | 0.17 | 0.27 | 0.26 | 1.42 | 0.41 | 0.23 | 0.27 | 0.12 | 0.21 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 61.93 | 61.93 | 61.93 | 61.93 | 61.93 | 61.93 | 61.93 | 61.93 | 61.93 | 61.81 |
| FII | 1.39 | 1.53 | 1.59 | 1.63 | 1.84 | 1.81 | 1.83 | 1.48 | 1.83 | 1.48 |
| DII | 19.07 | 18.87 | 19.24 | 19.56 | 19.84 | 19.68 | 19.92 | 19.79 | 18.72 | 16.57 |
| Public | 17.61 | 17.67 | 17.24 | 16.87 | 16.4 | 16.59 | 16.32 | 16.8 | 17.52 | 20.14 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 | 1.55 |
| FII | 0.03 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 | 0.04 |
| DII | 0.48 | 0.47 | 0.48 | 0.49 | 0.5 | 0.49 | 0.5 | 0.5 | 0.47 | 0.42 |
| Public | 0.44 | 0.44 | 0.43 | 0.42 | 0.41 | 0.42 | 0.41 | 0.42 | 0.44 | 0.51 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 | 2.51 |
* The pros and cons are machine generated.
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