Strong Revenue GrowthA 35.2% revenue increase in the latest year indicates durable demand traction and successful order execution. Given SPAL's end-to-end manufacturing and product development capabilities, sustained top-line expansion reflects scalable operations and stronger customer adoption over the next several months.

Improving Margins And Operational EfficiencySubstantially higher gross margin (58.5%) and improved net margin (6.8%) show structural cost control and better mix. The firm's integrated sourcing, sampling and compliance-led manufacturing supports value-added pricing and margin sustainability across cycles, benefiting medium-term profitability.

Solid Balance Sheet And Moderate LeverageA debt-to-equity of 0.44 and 58.8% equity ratio indicate moderate leverage and a stable funding base. Improved ROE to 11.1% shows effective use of capital. This financial flexibility supports capacity investments and cushions against sector cyclicality over the medium term.

Bears Say

Negative Free Cash FlowFCF turning negative from higher capex reduces internally available funds and raises financing needs. If capex persists, the company may face pressure on liquidity or incur higher financing costs, which can constrain reinvestment and shareholder returns in the coming months.

Lower Cash Conversion (OCF Vs Net Income)An OCF-to-net-income ratio of 0.47 implies earnings are less backed by cash than historically, raising earnings quality concerns. Weak cash conversion can signal working-capital strain or receivable build-up, limiting short-to-medium-term liquidity and operational flexibility.

Limited Disclosure On Customer/Channel ConcentrationAbsence of disclosure on customer concentration and export vs domestic mix increases revenue predictability risk. Without clarity, the business is harder to assess for counterparty, regional and channel exposure, which can materially affect resilience to order loss or region-specific shocks.

S.P. Apparels Ltd. News

S.P. Apparels Confirms SEBI Dematerialisation Compliance for Q3 FY2025-26

The latest announcement is out from S.P. Apparels Ltd. ( ($IN:SPAL) ). S.P. Apparels Limited has notified the...

2M ago

SPAL

S.P. Apparels Shareholders Approve Appointment of Independent Director via Postal Ballot

S.P. Apparels Ltd. ( ($IN:SPAL) ) has shared an announcement. S.P. Apparels Limited has announced that its shareholders...

2M ago

SPAL

S.P. Apparels Publishes Postal Ballot Notice

S.P. Apparels Ltd. ( ($IN:SPAL) ) has provided an update. S.P. Apparels Limited announced the publication of a...

3M ago

SPAL

S.P. Apparels Releases Q1 2025 Financial Results

S.P. Apparels Ltd. ( ($IN:SPAL) ) has provided an announcement. S.P. Apparels Ltd. announced the publication of its...

7M ago

SPAL

SPAL FAQ

What was S.P. Apparels Ltd.’s price range in the past 12 months?

S.P. Apparels Ltd. lowest stock price was ₹585.00 and its highest was ₹990.00 in the past 12 months.

What is S.P. Apparels Ltd.’s market cap?

S.P. Apparels Ltd.’s market cap is ₹16.68B.

When is S.P. Apparels Ltd.’s upcoming earnings report date?

S.P. Apparels Ltd.’s upcoming earnings report date is May 14, 2026 which is in 65 days.

How were S.P. Apparels Ltd.’s earnings last quarter?

S.P. Apparels Ltd. released its earnings results on Feb 11, 2026. The company reported ₹10.8 earnings per share for the quarter, missing the consensus estimate of ₹11.6 by -₹0.8.

Is S.P. Apparels Ltd. overvalued?

According to Wall Street analysts S.P. Apparels Ltd.’s price is currently Overvalued. Get more investment ideas with TipRanks Premium

Does S.P. Apparels Ltd. pay dividends?

S.P. Apparels Ltd. pays a Annually dividend of ₹2 which represents an annual dividend yield of 0.28%. See more information on S.P. Apparels Ltd. dividends here

What is S.P. Apparels Ltd.’s EPS estimate?

S.P. Apparels Ltd.’s EPS estimate for its next earnings report is not yet available.

How many shares outstanding does S.P. Apparels Ltd. have?

S.P. Apparels Ltd. has 25,092,600 shares outstanding.

What happened to S.P. Apparels Ltd.’s price movement after its last earnings report?

S.P. Apparels Ltd. reported an EPS of ₹10.8 in its last earnings report, missing expectations of ₹11.6. Following the earnings report the stock price went down -4.203%.

Which hedge fund is a major shareholder of S.P. Apparels Ltd.?

Currently, no hedge funds are holding shares in IN:SPAL

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

Company Description

S.P. Apparels Ltd.

S.P. Apparels Limited engages in the manufacture and sale of knitted garments for infants and children in India. It also manufactures, distributes, and markets adult menswear, such as shirts, polo shirts, T-shirts, trousers, jeans, sweaters, jackets, vests, briefs, boxer shorts, and socks under the Crocodile brand; and women's essential garments under the Natalia brand. The company also exports its products. S.P. Apparels Limited was founded in 1988 and is based in Tirupur, India.