SPMLINFRA
SPML Infra Limited
Civil construction and EPC contractor for infrastructure and buildings
Industrials›Construction›Construction›Civil Construction
spml.co.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹150.50
Market cap
1,266 Cr
Stock P/E
14.9
P/B
1.25
ROE (FY26)
7.9%
ROCE (FY26)
6.4%
Operating margin (FY26)
7.3%
Debt / equity (FY26)
0.37
OCF / EBITDA (FY26)
-170.6%
OCF / EBITDA (3Y)
350.5%
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
SPML Infra is an Indian engineering, procurement and construction (EPC) contractor that builds water infrastructure and power substations, and has added battery energy storage systems (BESS).
Company snapshot
45thBy market cap
Ranked among 90 companies in Civil Construction.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 100.0% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Construction | 100.0% | 582 Cr | 73 Cr | — |
What we see
Positives
- ✓351% of operating profit came in as cash over the last three years — profits are backed by real cash.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
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 | 254 Cr | 252 Cr | 461 Cr | 207 Cr | 189 Cr | 186 Cr | 189 Cr | 156 Cr | 188 Cr | 230 Cr | 291 Cr | 284 Cr |
| Operating expenses (approx.) | 254 Cr | 256 Cr | 444 Cr | 195 Cr | 176 Cr | 178 Cr | 179 Cr | 149 Cr | 179 Cr | 205 Cr | 270 Cr | 257 Cr |
| EBITDA | 0.21 Cr | -4 Cr | 18 Cr | 12 Cr | 13 Cr | 8 Cr | 10 Cr | 7 Cr | 9 Cr | 25 Cr | 21 Cr | 27 Cr |
| OPM % | 0.1% | -1.4% | 3.8% | 5.6% | 6.8% | 4.3% | 5.4% | 4.6% | 4.7% | 10.8% | 7.1% | 9.5% |
| Other income | 3 Cr | 9 Cr | 27 Cr | 15 Cr | 12 Cr | 14 Cr | 12 Cr | 17 Cr | 11 Cr | 1 Cr | 3 Cr | 1 Cr |
| Interest | 2 Cr | 3 Cr | 50 Cr | 10 Cr | 9 Cr | 10 Cr | 10 Cr | 9 Cr | 0.40 Cr | 5 Cr | 2 Cr | 5 Cr |
| Depreciation | 0.62 Cr | 0.54 Cr | 0.55 Cr | 0.33 Cr | 0.27 Cr | 0.11 Cr | 0.19 Cr | 0.11 Cr | 0.20 Cr | 0.52 Cr | 1 Cr | 0.58 Cr |
| Profit before tax | 1 Cr | 2 Cr | -5 Cr | 16 Cr | 16 Cr | 12 Cr | 13 Cr | 15 Cr | 19 Cr | 20 Cr | 20 Cr | 23 Cr |
| Tax % | 67.8% | 40.0% | 5.8% | 19.2% | 17.2% | 18.5% | 4.2% | 18.7% | 20.9% | 0.0% | -33.2% | 0.0% |
| Net profit | 0.37 Cr | 1 Cr | -4 Cr | 13 Cr | 13 Cr | 10 Cr | 12 Cr | 12 Cr | 15 Cr | 20 Cr | 27 Cr | 23 Cr |
| EPS (₹) | ₹0.07 | ₹0.23 | ₹-1.81 | ₹2.58 | ₹2.48 | ₹1.20 | ₹1.15 | ₹1.69 | ₹2.10 | ₹2.75 | ₹3.39 | ₹2.74 |
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 | — | 2,049 Cr | 2,012 Cr | 1,706 Cr | 683 Cr | 952 Cr | 883 Cr | 1,319 Cr | 771 Cr | 868 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | — | 1,834 Cr | 1,843 Cr | 1,623 Cr | 685 Cr | 946 Cr | 854 Cr | 1,306 Cr | 728 Cr | 802 Cr | Sign in free for the trailing twelve months |
| EBITDA | — | 216 Cr | 169 Cr | 84 Cr | -2 Cr | 6 Cr | 29 Cr | 13 Cr | 43 Cr | 66 Cr | Sign in free for the trailing twelve months |
| OPM % | — | 10.5% | 8.4% | 4.9% | -0.3% | 0.6% | 3.3% | 1.0% | 5.5% | 7.6% | Sign in free for the trailing twelve months |
| Other income | — | 61 Cr | 65 Cr | 109 Cr | 64 Cr | 29 Cr | 28 Cr | 43 Cr | 53 Cr | 19 Cr | Sign in free for the trailing twelve months |
| Interest | — | 214 Cr | 161 Cr | 157 Cr | 67 Cr | 33 Cr | 50 Cr | 57 Cr | 39 Cr | 8 Cr | Sign in free for the trailing twelve months |
| Depreciation | — | 17 Cr | 11 Cr | 11 Cr | 6 Cr | 4 Cr | 3 Cr | 2 Cr | 0.91 Cr | 2 Cr | Sign in free for the trailing twelve months |
| Profit before tax | — | 62 Cr | 65 Cr | 21 Cr | -122 Cr | -1 Cr | 3 Cr | -0.23 Cr | 57 Cr | 75 Cr | Sign in free for the trailing twelve months |
| Tax % | — | 18.4% | 38.5% | 68.8% | 3.7% | 89.0% | 88.4% | -605.7% | 15.2% | 0.0% | Sign in free for the trailing twelve months |
| Net profit | — | 50 Cr | 40 Cr | 7 Cr | -118 Cr | -0.14 Cr | 0.34 Cr | -2 Cr | 48 Cr | 75 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | — | ₹14.43 | ₹10.84 | ₹1.80 | ₹-31.98 | ₹0.09 | ₹0.08 | ₹-1.42 | ₹7.61 | ₹10.14 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | 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 | 8 Cr | 8 Cr | 8 Cr | 8 Cr | 8 Cr | 9 Cr | 10 Cr | 11 Cr | 15 Cr | 17 Cr |
| Reserves | 372 Cr | 457 Cr | 412 Cr | 376 Cr | 254 Cr | 311 Cr | 333 Cr | 450 Cr | 755 Cr | 932 Cr |
| Borrowings | 1,159 Cr | 1,311 Cr | 1,395 Cr | 1,494 Cr | 1,813 Cr | 1,811 Cr | 1,754 Cr | 549 Cr | 369 Cr | 346 Cr |
| Other liabilities | 1,364 Cr | 1,481 Cr | 1,496 Cr | 1,104 Cr | 630 Cr | 661 Cr | 690 Cr | 880 Cr | 828 Cr | 1,002 Cr |
| Total liabilities | 2,999 Cr | 3,367 Cr | 3,496 Cr | 2,998 Cr | 2,720 Cr | 2,799 Cr | 2,793 Cr | 1,892 Cr | 1,967 Cr | 2,296 Cr |
| Fixed assets (net) | 280 Cr | 257 Cr | 234 Cr | 107 Cr | 101 Cr | 133 Cr | 94 Cr | 6 Cr | 3 Cr | 39 Cr |
| CWIP | 54 Cr | 48 Cr | 46 Cr | 56 Cr | 56 Cr | 56 Cr | 56 Cr | — | 0.34 Cr | 64 Cr |
| Investments | 194 Cr | 152 Cr | 181 Cr | 119 Cr | 70 Cr | 65 Cr | 59 Cr | 38 Cr | 39 Cr | 36 Cr |
| Loans & advances | — | — | 16 Cr | 5 Cr | 5 Cr | 7 Cr | 14 Cr | 11 Cr | 0.35 Cr | 0.35 Cr |
| Inventories | 72 Cr | 77 Cr | 67 Cr | 63 Cr | 71 Cr | 90 Cr | 92 Cr | 37 Cr | 50 Cr | 124 Cr |
| Trade receivables | 651 Cr | 860 Cr | 678 Cr | 468 Cr | 461 Cr | 1,220 Cr | 1,198 Cr | 404 Cr | 396 Cr | 514 Cr |
| Cash & bank | 43 Cr | 25 Cr | 37 Cr | 20 Cr | 40 Cr | 41 Cr | 20 Cr | 228 Cr | 129 Cr | 64 Cr |
| Other assets | 1,704 Cr | 1,947 Cr | 2,237 Cr | 2,161 Cr | 1,917 Cr | 1,187 Cr | 1,259 Cr | 1,166 Cr | 1,349 Cr | 1,455 Cr |
| Total assets | 2,999 Cr | 3,367 Cr | 3,496 Cr | 2,998 Cr | 2,720 Cr | 2,799 Cr | 2,793 Cr | 1,892 Cr | 1,967 Cr | 2,296 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 | -161 Cr | 234 Cr | 178 Cr | -2 Cr | -302 Cr | -19 Cr | 20 Cr | 624 Cr | -84 Cr | -113 Cr |
| Cash from investing | 108 Cr | 68 Cr | -29 Cr | 282 Cr | 91 Cr | 36 Cr | 46 Cr | -7 Cr | -90 Cr | -32 Cr |
| Cash from financing | 69 Cr | -330 Cr | -168 Cr | -273 Cr | 231 Cr | -16 Cr | -87 Cr | -410 Cr | 76 Cr | 79 Cr |
| Net cash flow | -3 Cr | -18 Cr | 12 Cr | -16 Cr | 19 Cr | 1 Cr | -21 Cr | 208 Cr | -99 Cr | -66 Cr |
| Free cash flow (OCF − Capex) | -168 Cr | 221 Cr | 134 Cr | -6 Cr | -303 Cr | -20 Cr | 20 Cr | 558 Cr | -85 Cr | -179 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 14.6% | 11.3% | 9.4% | -2.6% | 1.5% | 2.5% | 5.6% | 8.4% | 6.4% |
| ROE % | — | 8.8% | 6.6% | 1.8% | -42.3% | 0.1% | 0.1% | -1.5% | 6.2% | 7.9% |
| Debtor days | — | 153 | 123 | 100 | 246 | 467 | 494 | 112 | 187 | 215 |
| Inventory days | — | 29 | 25 | 32 | 47 | 39 | 44 | 13 | 27 | 63 |
| Days payable | — | 358 | 351 | 325 | 254 | 183 | 205 | 130 | 262 | 317 |
| Cash conversion cycle | — | -177 | -203 | -193 | 38 | 323 | 332 | -5 | -48 | -38 |
| OCF / EBITDA % | — | 108.6% | 105.4% | -1.9% | — | n.m. | 69.6% | n.m. | -197.6% | -170.6% |
| OCF / EBITDA % (3 years) | — | — | — | 87.7% | -50.5% | n.m. | n.m. | n.m. | n.m. | 350.5% |
| Debt / equity | 3.05 | 2.82 | 3.32 | 3.89 | 6.92 | 5.66 | 5.12 | 1.19 | 0.48 | 0.37 |
| Current ratio | 0.82 | 1.07 | 1.03 | 1.05 | 1.05 | 1.08 | 1.05 | 1.45 | 1.78 | 1.70 |
| Net debt / EBITDA | — | — | 8.06 | 17.56 | — | 315.00 | 60.19 | 24.20 | 5.60 | 4.29 |