SPEL Semiconductor

₹136.3 2.7 | 2%

WEBSITE BSE:517166 NSE : SPEL SEMICON 18 May, 12:50

Market Cap ₹628 Cr.

Stock P/E -30.1

P/B 16.8

Current Price ₹136.3

Book Value ₹ 8.1

Face Value 10

52W High ₹154.7

Dividend Yield 0%

52W Low ₹ 40

Edit Ratio

SPEL Semiconductor Research see more...

Overview Inc. Year: 1984Industry: Electronics - Components

SPEL Semiconductor Ltd is engaged in supplying electronic integrated circuits (ICs). The Company operates IC assembly and test facility. The Company's manufacturing facility is located in MM Nagar, near Chennai. The Company gives solutions that encompass wafer type, assembly, test and drop-cargo services. The Company also offers value added offerings, such as package design, failure analysis and reliability test, test software improvement and product characterization. The Company's customers consist of incorporated device manufacturers (IDMs) and fabless corporations in the United States, Asia and Europe. The Company offers packaging solutions for semiconductors used in a number of end market packages, such as communications, consumer electronics, computing, commercial and automotive. It gives environmental reliability stress tests, consisting of temperature and humidity pressure check, stress pot test, high temperature storage life test and steady country temperature humidity bias life test.

SPEL Semiconductor Share Price

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Peer Comparison

SPEL Semiconductor Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	1	3	3	9	3	2	2	5	2	2
Other Income	0	1	0	0	0	0	0	0	0	0
Total Income	1	3	3	9	3	2	3	6	2	3
Total Expenditure	3	4	4	7	2	-0	4	5	3	3
Operating Profit	-2	-0	-0	2	2	2	-1	0	-1	-1
Interest	0	0	0	0	0	0	1	1	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	-6	0	0	-6	-3	-2	-2
Profit Before Tax	-4	-2	-2	-5	0	1	-9	-4	-4	-4
Provision for Tax	0	0	-1	1	-0	-0	-0	-0	-0	-0
Profit After Tax	-4	-2	-1	-5	1	1	-9	-4	-4	-4
Adjustments	0	-0	0	0	0	0	0	-0	0	0
Profit After Adjustments	-4	-2	-1	-5	1	1	-9	-4	-4	-4
Adjusted Earnings Per Share	-0.8	-0.4	-0.2	-1.2	0.1	0.3	-1.9	-0.9	-0.8	-0.9

SPEL Semiconductor Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	81	63	47	26	36	42	26	37	16	16	11	11
Other Income	1	1	1	1	2	2	5	2	5	1	7	0
Total Income	82	65	49	27	38	44	31	38	21	17	18	14
Total Expenditure	70	49	35	35	37	44	34	31	22	17	7	15
Operating Profit	12	16	14	-9	1	-0	-3	8	-0	-0	11	-3
Interest	6	5	4	3	3	3	3	1	1	1	3	4
Depreciation	12	11	10	11	7	6	5	5	4	5	4	4
Exceptional Income / Expenses	0	0	0	-1	1	1	0	-0	-3	-6	-9	-13
Profit Before Tax	-6	0	-0	-24	-8	-8	-11	1	-8	-12	-5	-21
Provision for Tax	-1	-0	-0	-4	0	0	-0	0	0	0	-1	0
Profit After Tax	-5	0	-0	-20	-9	-8	-11	1	-9	-12	-3	-21
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	-5	0	-0	-20	-9	-8	-11	1	-9	-12	-3	-21
Adjusted Earnings Per Share	-1	0.1	-0.1	-4.3	-1.9	-1.8	-2.3	0.2	-1.9	-2.6	-0.7	-4.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-31%	-33%	-24%	-18%
Operating Profit CAGR	0%	11%	0%	-1%
PAT CAGR	0%	NAN%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	221%	125%	86%	34%
ROE Average	-6%	-12%	-9%	-11%
ROCE Average	-2%	-7%	-5%	-5%

SPEL Semiconductor Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	87	88	87	67	58	87	78	79	72	60	50
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	13	16	10	0	13	13	14	16	18	26	19
Other Non-Current Liabilities	13	11	11	22	10	29	28	28	27	27	24
Total Current Liabilities	34	30	36	41	42	41	44	59	50	65	71
Total Liabilities	148	145	144	130	123	170	163	182	166	177	164
Fixed Assets	119	109	98	87	69	126	122	117	113	112	29
Other Non-Current Assets	1	4	5	5	5	1	1	1	1	1	50
Total Current Assets	28	33	41	38	50	43	40	64	53	64	85
Total Assets	148	145	144	130	123	170	163	182	166	177	164

SPEL Semiconductor Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	0	0	0	0
Cash Flow from Operating Activities	13	5	6	-2	-3
Cash Flow from Investing Activities	-4	1	0	1	12
Cash Flow from Financing Activities	-11	-7	-6	1	-8
Net Cash Inflow / Outflow	-1	-0	-0	-0	-0
Closing Cash & Cash Equivalent	0	0	0	0	0

SPEL Semiconductor Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-0.99	0.07	-0.08	-4.29	-1.91	-1.84	-2.33	0.23	-1.87	-2.57	-0.67
CEPS(Rs)	1.58	2.45	2.12	-1.97	-0.36	-0.47	-1.21	1.31	-0.94	-1.55	0.19
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	14.51	14.58	14.44	10.14	10.48	18.87	16.81	17.13	15.62	12.98	10.74
Core EBITDA Margin(%)	13.31	23.18	26.06	-36.85	-3.55	-6.74	-29.91	16.38	-35.34	-10.77	35.33
EBIT Margin(%)	0.15	7.72	7.54	-79.5	-16.1	-13.06	-31	7.59	-45.72	-68.33	-17.52
Pre Tax Margin(%)	-7.08	0.31	-1.03	-91.26	-23.58	-20	-41.8	3.69	-53.03	-73.85	-40.46
PAT Margin (%)	-5.63	0.51	-0.75	-76.45	-24.62	-20.33	-40.76	2.88	-54.24	-75.7	-27.67
Cash Profit Margin (%)	9.03	17.78	20.7	-35.07	-4.69	-5.2	-21.22	16.52	-27.2	-45.71	7.71
ROA(%)	-2.97	0.22	-0.24	-14.41	-6.93	-5.78	-6.44	0.61	-4.96	-6.9	-1.81
ROE(%)	-6.56	0.48	-0.53	-34.92	-18.47	-12.52	-13.05	1.35	-11.43	-17.96	-5.65
ROCE(%)	0.11	4.96	3.72	-26.24	-8.24	-5.77	-7.71	2.69	-6.98	-11.07	-2.36
Receivable days	27.16	42.73	58.36	66.7	98.76	77.02	44.72	181.52	829.71	1038.43	825.06
Inventory Days	71.91	103.51	212.49	479.21	235.95	72.56	60.3	75.22	242.94	262.3	1021.13
Payable days	97.77	169.9	621.48	332.45	314.07	345.09	636.78	687.78	987.45	980.53	-510.48
PER(x)	0	92.85	0	0	0	0	0	13.09	0	0	0
Price/Book(x)	0.41	0.44	0.7	1.32	1.46	0.61	0.43	0.17	0.89	5	3.14
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.72	0.93	1.55	2.99	2.6	1.85	2.11	1.13	5.91	21.12	16.19
EV/Core EBITDA(x)	4.87	3.73	5.35	-8.87	140.06	-163.41	-18.46	5.31	-542.11	-1007.98	16.57
Net Sales Growth(%)	1.23	-21.52	-25.55	-45.22	37.97	16.81	-36.78	38.73	-56.43	-1.73	-28.64
EBIT Growth(%)	-97.03	4002.02	-27.38	-678.26	72.08	5.28	-50.02	133.96	-362.53	-46.87	81.7
PAT Growth(%)	-899.16	107.07	-209.44	-5518.31	55.61	3.58	-26.74	109.81	-919.57	-37.16	73.92
EPS Growth(%)	-898.92	107.07	-209.44	-5518.31	55.61	3.59	-26.74	109.81	-919.57	-37.16	73.92
Debt/Equity(x)	0.49	0.45	0.41	0.35	0.58	0.29	0.29	0.35	0.42	0.52	0.51
Current Ratio(x)	0.82	1.08	1.16	0.94	1.2	1.05	0.91	1.09	1.06	0.99	1.2
Quick Ratio(x)	0.38	0.39	0.2	0.11	0.9	0.94	0.8	0.91	0.85	0.8	0.49
Interest Cover(x)	0.02	1.04	0.88	-6.76	-2.15	-1.88	-2.87	1.94	-6.25	-12.37	-0.76
Total Debt/Mcap(x)	1.19	1.02	0.58	0.26	0.4	0.47	0.66	2	0.47	0.1	0.16

SPEL Semiconductor Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	59.17	59.17	59.17	59.17	59.17	59.17	59.17	59.17	59.17	59.17
FII	0	0	0	0	0	0	0	0	0	0.07
DII	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Public	40.79	40.78	40.78	40.79	40.79	40.79	40.79	40.79	40.79	40.71
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.73	2.73	2.73	2.73	2.73	2.73	2.73	2.73	2.73	2.73
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88	1.88
Others	0	0	0	0	0	0	0	0	0	0
Total	4.61	4.61	4.61	4.61	4.61	4.61	4.61	4.61	4.61	4.61

Pros

Debtor days have improved from 980.53 to -510.48days.
Company has reduced debt.

Cons

Company has a low return on equity of -12% over the last 3 years.
Stock is trading at 16.8 times its book value.
Earnings include an other income of Rs. 7 Cr.

* 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.