SPL Industries Limited (IN:SPLIL)
:SPLIL
Top Page
SPL Industries Limited
(SPLIL)
Select Model
Select Model
Rating:57Neutral
Price Target:
₹30.00
▼(-21.36% Downside)
Action:ReiteratedDate:03/17/26
The score is held up by a very strong balance sheet (near-zero debt) and improved FY2025 cash conversion, but is dragged down by sharp FY2025 revenue decline and severe gross-margin compression, alongside weak downtrend technicals (price below key moving averages and bearish momentum). Valuation is only moderately supportive with a ~10.2 P/E and no dividend yield data.
Positive Factors
Very strong balance sheet (near-zero debt)
Near-zero debt and a substantial equity base materially lower financial risk and increase strategic optionality. This durable strength supports capital expenditure, opportunistic M&A, or shareholder returns without relying on external financing, improving resilience through apparel cycles.
Negative Factors
Material revenue decline and volatility
A multi-year revenue downtrend reduces scale and weakens unit economics, undermining pricing power and long-term growth prospects. Persistent top-line shrinkage can erode customer relationships and market share, making recovery and margin restoration materially harder over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet (near-zero debt)
Near-zero debt and a substantial equity base materially lower financial risk and increase strategic optionality. This durable strength supports capital expenditure, opportunistic M&A, or shareholder returns without relying on external financing, improving resilience through apparel cycles.
Read all positive factors
SPL Industries Limited (SPLIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹788.80M
Dividend YieldN/A
Average Volume (3M)7.63K
Price to Earnings (P/E)10.2
Beta (1Y)1.13
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees310
SectorConsumer Goods
Sector StrengthN/A
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)0.82
Shares Outstanding29,000,004
10 Day Avg. Volume434
30 Day Avg. Volume7,626
Financial Highlights & Ratios
PEG Ratio-0.59
Price to Book (P/B)0.46
Price to Sales (P/S)0.69
P/FCF Ratio4.15
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
SPL Industries Limited Business Overview & Revenue Model
Company Description
SPL Industries Limited designs, manufactures, and sells cotton knitted garments and made ups in India. The company operates in two segments, Manufacturing Cotton Knitted Garments and Made Ups and Processing Charges, and Trading of Garments. It off...
SPL Industries Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
84
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 890.71M | 1.39B | 1.99B | 2.69B | 1.89B | 1.02B |
| Gross Profit | 52.02M | 72.75M | 287.11M | 301.13M | 281.63M | 215.98M |
| EBITDA | 96.16M | 159.83M | 192.96M | 369.04M | 317.62M | 213.95M |
| Net Income | 39.55M | 97.92M | 117.51M | 238.36M | 210.84M | 135.52M |
Balance Sheet | ||||||
| Total Assets | 2.23B | 2.22B | 2.08B | 2.09B | 2.10B | 1.52B |
| Cash, Cash Equivalents and Short-Term Investments | 790.33M | 708.39M | 242.32M | 327.48M | 683.63M | 796.38M |
| Total Debt | 0.00 | 0.00 | 40.00K | 106.59M | 49.30M | 44.45M |
| Total Liabilities | 133.90M | 131.76M | 89.85M | 216.46M | 466.91M | 93.97M |
| Stockholders Equity | 2.10B | 2.09B | 1.99B | 1.87B | 1.63B | 1.42B |
Cash Flow | ||||||
| Free Cash Flow | 185.81M | 231.64M | 42.82M | 3.05M | 13.62M | 291.29M |
| Operating Cash Flow | 208.37M | 206.99M | 71.48M | 140.02M | 80.82M | 297.85M |
| Investing Cash Flow | -187.68M | -208.09M | 37.53M | -257.95M | -43.29M | -289.10M |
| Financing Cash Flow | -136.00K | -1.06M | -107.42M | 47.78M | -2.21M | -2.34M |
SPL Industries Limited Peers Comparison
UnderperformOutperform
Sector (57)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹1.46B | 10.89 | ― | 0.51% | 2.92% | -0.09% | |
57 Neutral | ₹788.80M | 10.21 | ― | ― | ― | ― | |
57 Neutral | $3.13B | 9.23 | -34.32% | 3.14% | -25.56% | -353.61% | |
52 Neutral | ₹724.36M | 31.72 | ― | ― | -27.67% | -61.81% | |
52 Neutral | ₹1.02B | 53.55 | ― | ― | 4.60% | 226.64% | |
43 Neutral | ₹719.07M | 27.28 | ― | ― | 16.77% | 34.47% | |
42 Neutral | ₹1.01B | -0.62 | ― | ― | ― | ― |
* Consumer Goods Sector Average
IN:SPLIL
SPL Industries Limited
27.20
-7.10
-20.70%
IN:BHANDARI
Bhandari Hosiery Exports Ltd
3.37
-0.89
-20.85%
IN:JHS
JHS Svendgaard Laboratories Limited
8.40
-6.10
-42.07%
IN:NAGREEKEXP
Nagreeka Exports Ltd
23.18
-2.70
-10.43%
IN:SELMC
SEL Manufacturing Co. Ltd.
30.40
-0.09
-0.30%
IN:SURYALAXMI
Suryalakshmi Cotton Mills Ltd.
54.50
-5.25
-8.79%
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.