Revenue GrowthA 35.2% revenue increase in the latest year signals durable demand expansion and successful order fulfillment capacity. Sustained top-line growth underpins scaling economics, enables fixed-cost absorption over time, and supports reinvestment for product development and capacity.

Margin ImprovementA materially higher gross margin (58.5%) alongside improving net margin (6.8%) reflects lasting cost control and pricing strength in manufacturing. Higher gross margins provide a buffer versus input volatility and create room to invest in quality, compliance, or value-added services.

Balance Sheet ResilienceModerate leverage (D/E 0.44) and an equity ratio near 59% indicate a stable capital structure that supports expansion while limiting refinancing risk. Improving ROE (11.1%) shows effective capital deployment, enabling sustainable investment in capacity and product development.

Bears Say

Negative Free Cash FlowNegative free cash flow driven by elevated capex reduces financial flexibility and may force external financing or slower paydown of liabilities. If new capacity or equipment does not rapidly boost margins or volumes, cash strain could constrain growth initiatives over the medium term.

Weak Cash ConversionA sub-1.0 cash conversion ratio (0.47) signals that reported earnings are not translating efficiently into cash, possibly due to rising working capital needs or receivables. Persistently weak cash conversion can impair liquidity and increase reliance on debt for operations or capex.

Modest Net ProfitabilityA wide gap between very high gross margins and a modest net margin suggests substantial operating expenses or pricing pressure downstream. Limited net profitability constrains retained earnings for reinvestment and reduces the margin of safety during cyclical demand slowdowns.

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...

6M 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 ₹18.44B.

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 80 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.