SPLIL
SPL Industries Limited
Garment manufacturer and exporter with own manufacturing and trading operations
Consumer Discretionary›Textiles›Textiles & Apparels›Trading - Textile Products
spllimited.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹27.62
Market cap
80 Cr
Stock P/E
9.7
P/B
0.37
ROE (FY26)
3.3%
ROCE (FY26)
3.6%
Operating margin (FY26)
-16.4%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
SPL Industries makes garments at its factory in Faridabad, Haryana, and also trades in garments, and it describes itself as a Three Star Export House.
Company snapshot
3rdBy market cap
Ranked among 5 companies in Trading - Textile Products.
What we see
Concerns
- ✗Interest coverage of -6.6x — earnings barely cover interest payments, which is a warning sign.
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 42 Cr | 31 Cr | 69 Cr | 42 Cr | 39 Cr | 27 Cr | 31 Cr | 17 Cr | 15 Cr | 15 Cr | 23 Cr | 19 Cr |
| Operating expenses (approx.) | 40 Cr | 31 Cr | 65 Cr | 41 Cr | 38 Cr | 27 Cr | 30 Cr | 18 Cr | 17 Cr | 19 Cr | 23 Cr | 20 Cr |
| EBITDA | 2 Cr | 0.65 Cr | 4 Cr | 2 Cr | 2 Cr | -0.56 Cr | 0.61 Cr | -2 Cr | -2 Cr | -4 Cr | -0.05 Cr | -0.54 Cr |
| OPM % | 3.9% | 2.1% | 5.4% | 4.5% | 4.8% | -2.1% | 2.0% | -9.8% | -15.7% | -28.2% | -0.2% | -2.8% |
| Other income | 3 Cr | 3 Cr | 4 Cr | 3 Cr | 3 Cr | 3 Cr | 4 Cr | 4 Cr | 3 Cr | 7 Cr | 6 Cr | 4 Cr |
| Interest | 0.57 Cr | 0.30 Cr | 0.51 Cr | 0.54 Cr | 0.62 Cr | 0.23 Cr | 0.28 Cr | 0.17 Cr | 0.17 Cr | 1 Cr | 0.16 Cr | 0.24 Cr |
| Depreciation | 0.76 Cr | 0.77 Cr | 0.85 Cr | 0.75 Cr | 0.76 Cr | 0.76 Cr | 0.76 Cr | 0.67 Cr | 0.68 Cr | 0.77 Cr | 1 Cr | 0.86 Cr |
| Profit before tax | 3 Cr | 2 Cr | 6 Cr | 4 Cr | 4 Cr | 1 Cr | 4 Cr | 1 Cr | -0.07 Cr | 0.49 Cr | 4 Cr | 3 Cr |
| Tax % | 26.8% | 21.9% | 28.2% | 31.3% | 1.2% | 79.1% | 21.2% | 26.3% | -168.7% | -390.6% | 10.9% | 15.3% |
| Net profit | 2 Cr | 2 Cr | 4 Cr | 3 Cr | 4 Cr | 0.30 Cr | 3 Cr | 0.91 Cr | -0.20 Cr | 2 Cr | 4 Cr | 2 Cr |
| EPS (₹) | ₹0.80 | ₹0.64 | ₹1.46 | ₹0.89 | ₹1.37 | ₹0.10 | ₹1.01 | ₹0.31 | ₹-0.07 | ₹0.82 | ₹1.37 | ₹0.73 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 151 Cr | 173 Cr | 157 Cr | 179 Cr | 110 Cr | 198 Cr | 285 Cr | 199 Cr | 139 Cr | 70 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 148 Cr | 166 Cr | 128 Cr | 152 Cr | 94 Cr | 176 Cr | 261 Cr | 189 Cr | 136 Cr | 78 Cr | Sign in free for the trailing twelve months |
| EBITDA | 2 Cr | 7 Cr | 29 Cr | 27 Cr | 16 Cr | 22 Cr | 24 Cr | 10 Cr | 4 Cr | -8 Cr | Sign in free for the trailing twelve months |
| OPM % | 1.5% | 4.1% | 18.5% | 15.0% | 14.3% | 11.0% | 8.5% | 5.0% | 2.8% | -11.7% | Sign in free for the trailing twelve months |
| Other income | 5 Cr | 4 Cr | 3 Cr | 8 Cr | 6 Cr | 10 Cr | 14 Cr | 12 Cr | 14 Cr | 19 Cr | Sign in free for the trailing twelve months |
| Interest | 3 Cr | 2 Cr | 0.95 Cr | 1 Cr | 0.70 Cr | 0.75 Cr | 2 Cr | 2 Cr | 2 Cr | 2 Cr | Sign in free for the trailing twelve months |
| Depreciation | 3 Cr | 4 Cr | 4 Cr | 3 Cr | 3 Cr | 2 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 1 Cr | 5 Cr | 27 Cr | 30 Cr | 18 Cr | 29 Cr | 32 Cr | 16 Cr | 13 Cr | 6 Cr | Sign in free for the trailing twelve months |
| Tax % | — | — | 0.0% | -3.3% | 24.5% | 26.4% | 25.7% | 27.0% | 24.4% | -15.8% | Sign in free for the trailing twelve months |
| Net profit | 1 Cr | 5 Cr | 27 Cr | 31 Cr | 14 Cr | 21 Cr | 24 Cr | 12 Cr | 10 Cr | 7 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹0.50 | ₹1.86 | ₹9.37 | ₹10.78 | ₹4.67 | ₹7.27 | ₹8.22 | ₹4.05 | ₹3.38 | ₹2.43 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr | 29 Cr |
| Reserves | 36 Cr | 41 Cr | 69 Cr | 100 Cr | 113 Cr | 134 Cr | 158 Cr | 170 Cr | 180 Cr | 187 Cr |
| Borrowings | 15 Cr | 2 Cr | 2 Cr | 4 Cr | 4 Cr | 5 Cr | 11 Cr | — | — | — |
| Other liabilities | 44 Cr | 27 Cr | 22 Cr | 10 Cr | 5 Cr | 42 Cr | 11 Cr | 9 Cr | 13 Cr | 19 Cr |
| Total liabilities | 123 Cr | 100 Cr | 122 Cr | 142 Cr | 152 Cr | 210 Cr | 209 Cr | 208 Cr | 222 Cr | 235 Cr |
| Fixed assets (net) | 52 Cr | 55 Cr | 52 Cr | 33 Cr | 31 Cr | 35 Cr | 38 Cr | 42 Cr | 40 Cr | 43 Cr |
| CWIP | 2 Cr | 0.56 Cr | 0.85 Cr | 0 Cr | 0.25 Cr | 3 Cr | 11 Cr | 0 Cr | 0 Cr | — |
| Investments | — | — | 0 Cr | 16 Cr | 15 Cr | 21 Cr | 57 Cr | 75 Cr | 123 Cr | 142 Cr |
| Inventories | 20 Cr | 2 Cr | 3 Cr | 2 Cr | 2 Cr | 3 Cr | 3 Cr | 1 Cr | 1 Cr | 1 Cr |
| Trade receivables | 33 Cr | 30 Cr | 39 Cr | 32 Cr | 12 Cr | 49 Cr | 30 Cr | 35 Cr | 23 Cr | 16 Cr |
| Cash & bank | 1 Cr | 3 Cr | 3 Cr | 4 Cr | 5 Cr | 8 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr |
| Other assets | 15 Cr | 10 Cr | 24 Cr | 55 Cr | 87 Cr | 91 Cr | 69 Cr | 53 Cr | 34 Cr | 32 Cr |
| Total assets | 123 Cr | 100 Cr | 122 Cr | 142 Cr | 152 Cr | 210 Cr | 209 Cr | 208 Cr | 222 Cr | 235 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 19 Cr | 16 Cr | 16 Cr | 28 Cr | 30 Cr | 8 Cr | 14 Cr | 7 Cr | 21 Cr | 14 Cr |
| Cash from investing | -14 Cr | -0.34 Cr | -14 Cr | -28 Cr | -29 Cr | -4 Cr | -26 Cr | 4 Cr | -21 Cr | -14 Cr |
| Cash from financing | -6 Cr | -14 Cr | -0.92 Cr | 0.22 Cr | -0.23 Cr | -0.22 Cr | 5 Cr | -11 Cr | -0.11 Cr | -0.02 Cr |
| Net cash flow | -0.93 Cr | 1 Cr | 0.83 Cr | 0.47 Cr | 0.64 Cr | 4 Cr | -7 Cr | 0.16 Cr | -0.22 Cr | 0.16 Cr |
| Free cash flow (OCF − Capex) | 9 Cr | 11 Cr | 13 Cr | 27 Cr | 29 Cr | 1 Cr | 0.20 Cr | 4 Cr | 20 Cr | -28 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 5.2% | 9.8% | 28.1% | 23.8% | 12.7% | 17.5% | 17.3% | 9.3% | 7.0% | 3.6% |
| ROE % | 2.2% | 7.6% | 27.8% | 24.3% | 9.5% | 12.9% | 12.7% | 5.9% | 4.7% | 3.3% |
| Debtor days | 80 | 63 | 90 | 65 | 38 | 90 | 38 | 65 | 60 | 85 |
| Inventory days | 130 | 21 | 74 | 55 | 81 | 84 | 126 | 68 | 60 | 98 |
| Days payable | 240 | 236 | 442 | 189 | 99 | 1182 | 199 | 181 | 166 | 1096 |
| Cash conversion cycle | -30 | -152 | -278 | -69 | 20 | -1008 | -35 | -48 | -46 | -913 |
| OCF / EBITDA % | n.m. | 224.5% | 54.9% | 105.3% | 189.1% | 37.1% | 57.6% | 71.8% | n.m. | — |
| OCF / EBITDA % (3 years) | — | — | 133.2% | 95.5% | 103.4% | 102.8% | 84.0% | 52.2% | 110.0% | n.m. |
| Debt / equity | 0.23 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.06 | — | — | — |
| Current ratio | 1.18 | 1.44 | 2.65 | 6.51 | 11.44 | 2.94 | 3.69 | 8.58 | 10.22 | 5.74 |
| Net debt / EBITDA | 6.03 | -0.03 | -0.03 | 0.0026 | -0.0081 | -0.15 | 0.40 | -0.13 | -0.27 | — |