Spectrum Electrical Industries Limited (IN:SPECTRUM)
:SPECTRUM
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Spectrum Electrical Industries Limited
(SPECTRUM)
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Rating:54Neutral
Price Target:
₹1,491.00
▲(24.67% Upside)
Action:ReiteratedDate:01/17/26
The score is held back primarily by negative operating/free cash flow and elevated leverage despite strong revenue and margin improvement. Technical indicators also point to weak momentum with the stock below key moving averages and a negative MACD. A high P/E further pressures the score due to demanding valuation.
Positive Factors
Strong revenue growth
A 22.7% revenue increase year-over-year indicates durable demand for the company’s products and strengthening market penetration. Sustained top-line expansion supports capacity utilization, pricing leverage and reinvestment capacity, underpinning medium-term EBITDA and strategic initiatives.
Negative Factors
Negative operating and free cash flow
Significant negative OCF and FCF despite reported profits indicate weak cash conversion and recurring liquidity strain. This reduces financial flexibility, increases reliance on external financing for capex and working capital, and elevates refinancing and solvency risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
A 22.7% revenue increase year-over-year indicates durable demand for the company’s products and strengthening market penetration. Sustained top-line expansion supports capacity utilization, pricing leverage and reinvestment capacity, underpinning medium-term EBITDA and strategic initiatives.
Read all positive factors
Spectrum Electrical Industries Limited (SPECTRUM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹22.96B
Dividend YieldN/A
Average Volume (3M)278.00
Price to Earnings (P/E)47.6
Beta (1Y)-0.22
Revenue Growth21.51%
EPS Growth28.36%
CountryIN
Employees1,319
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)6.44
Shares Outstanding15,713,840
10 Day Avg. Volume510
30 Day Avg. Volume278
Financial Highlights & Ratios
PEG Ratio3.86
Price to Book (P/B)16.58
Price to Sales (P/S)8.19
P/FCF Ratio-36.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Spectrum Electrical Industries Limited Business Overview & Revenue Model
Company Description
Spectrum Electrical Industries Limited designs, manufactures, and sells electrical, automobile, and irrigation components in India. The company provides distribution boards, AC boxes, modular electric board panels, mini MCB bases and covers, tools...
How the Company Makes Money
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Spectrum Electrical Industries Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
65
Positive
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.70B | 3.86B | 3.14B | 2.53B | 2.51B |
| Gross Profit | 589.60M | 999.04M | 777.40M | 721.16M | 582.83M |
| EBITDA | 428.11M | 578.57M | 465.58M | 278.62M | 260.32M |
| Net Income | 237.50M | 256.09M | 194.18M | 84.50M | 76.51M |
Balance Sheet | |||||
| Total Assets | 4.57B | 4.45B | 3.18B | 2.53B | 2.18B |
| Cash, Cash Equivalents and Short-Term Investments | 25.70M | 45.02M | 118.08M | 86.51M | 147.47M |
| Total Debt | 1.64B | 2.14B | 943.68M | 1.03B | 786.82M |
| Total Liabilities | 2.41B | 2.54B | 1.53B | 1.65B | 1.34B |
| Stockholders Equity | 2.16B | 1.90B | 1.65B | 878.15M | 833.88M |
Cash Flow | |||||
| Free Cash Flow | -710.83M | -875.01M | -146.76M | -120.94M | -11.71M |
| Operating Cash Flow | 10.63M | -263.11M | 41.73M | 18.52M | 210.93M |
| Investing Cash Flow | -691.93M | -527.63M | -378.22M | -91.52M | -227.78M |
| Financing Cash Flow | 718.82M | 717.68M | 368.06M | 136.94M | -45.60M |
Spectrum Electrical Industries Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹12.52B | 16.63 | ― | ― | 34.48% | 40.61% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ₹17.61B | 33.68 | ― | 0.24% | 6.08% | 49.44% | |
58 Neutral | ₹24.41B | 49.83 | ― | 0.13% | 35.05% | 99.65% | |
58 Neutral | ₹9.13B | 24.44 | ― | 0.36% | 21.51% | -17.75% | |
56 Neutral | ₹1.91B | -54.31 | ― | 0.22% | 4.26% | -121.56% | |
54 Neutral | ₹22.96B | 47.55 | ― | ― | 21.51% | 28.36% |
* Industrials Sector Average
IN:SPECTRUM
Spectrum Electrical Industries Limited
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-27.29%
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Spectrum Electrical Industries Limited Corporate Events
Spectrum Electrical Completes 100% Acquisition of Alric Electric
Mar 6, 2026
Spectrum Electrical Industries Limited has completed the acquisition of a 100% equity stake in Alric Electric Private Limited, purchasing 10,000 shares from existing shareholders for Rs. 1.11 crore. The deal, finalized on 6 March 2026 through a sh...
Spectrum Electrical Industries’ CRISIL Ratings Upgraded as Bank Facilities Raised to Rs.250 Crore
Jan 14, 2026
Spectrum Electrical Industries Limited has had its aggregate rated bank facilities increased from Rs.150 crore to Rs.250 crore by CRISIL Ratings Limited, signalling expanded borrowing capacity to support its business requirements. Concurrently, CR...
Spectrum Electrical Files SEBI Regulation 74(5) Compliance Certificate, Reports No Demat Requests in Q3 FY26
Jan 11, 2026
Spectrum Electrical Industries Limited has submitted to NSE and BSE a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025, issued by its registrar and s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.