SPML Infra Limited (SPMLINFRA) AI Stock Analysis

• Market Cap: ₹12.61B
• Dividend Yield: N/A
• Average Volume (3M): 8.49K
• Price to Earnings (P/E): 26.2
• Beta (1Y): 0.64
• Revenue Growth: -35.16%
• EPS Growth: 115.70%
• Country: IN
• Employees: 243
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 1.98
• Shares Outstanding: 71,689,470
• 10 Day Avg. Volume: 8,247
• 30 Day Avg. Volume: 8,491
• PEG Ratio: -0.04
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 1.71
• P/FCF Ratio: -17.14
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1,052.63
• Revenue Forecast (FY): ₹1.34T

• Rating: 54 Neutral
• Price Target: ₹203.00 ▲(15.41% Upside)

SPML Infra Limited's overall stock score reflects a combination of moderate financial performance and bearish technical indicators. The company's financial stability is improving, but challenges in revenue growth and cash flow management persist. The technical analysis indicates a bearish trend, and the valuation suggests the stock is relatively expensive.

Positive Factors

Profitability Improvement

The improvement in net income indicates better operational efficiency and cost management, contributing to long-term financial health.

Debt-to-Equity Ratio Improvement

A better debt-to-equity ratio enhances financial stability and reduces risk, providing more flexibility for future investments.

Stable Gross Profit Margins

Stable gross profit margins suggest effective cost control and pricing strategies, supporting sustainable profitability.

Negative Factors

Revenue Decline

Declining revenue can hinder growth prospects and limit the company's ability to invest in new projects or technologies.

Cash Flow Volatility

Volatile cash flow can affect the company's ability to meet obligations and invest in growth, posing a risk to financial stability.

Revenue Growth Challenges

Inconsistent revenue growth can impact long-term strategic planning and the ability to capitalize on market opportunities.

SPML Infra Limited Business Overview & Revenue Model

Company Description

SPML Infra Limited (SPMLINFRA) is a leading infrastructure development company based in India, specializing in the design, engineering, and execution of projects across various sectors including water supply, waste management, and power transmission. The company focuses on providing integrated solutions for urban infrastructure, enhancing connectivity, and improving the quality of life through sustainable development practices. Its core offerings encompass construction, operation, and maintenance services, primarily in the fields of water management and renewable energy.

How the Company Makes Money

SPML Infra generates revenue through multiple streams, primarily from project contracts in the public and private sectors. The company undertakes large-scale infrastructure projects, often funded by government initiatives or through public-private partnerships (PPPs), allowing it to secure contracts for construction and maintenance services. Key revenue streams include fixed-price contracts for infrastructure development, ongoing maintenance agreements, and consultancy services related to urban planning and resource management. Additionally, SPML Infra benefits from strategic partnerships with government agencies and private entities, enhancing its capability to bid for and execute large projects, ultimately contributing to its financial growth.

SPML Infra Limited Financial Statement Overview

Summary

SPML Infra Limited has shown progress in profitability and financial stability, with improvements in net income and debt-to-equity ratio. However, challenges remain in achieving consistent revenue growth and managing cash flow volatility.

Income Statement

SPML Infra Limited demonstrated stable gross profit margins, though there was a notable decline in total revenue over the years. The company turned net income positive in 2025, showing improvement from previous losses, but still faces challenges in achieving consistent revenue growth.

Balance Sheet

The company has shown improvement in its debt-to-equity ratio, indicating reduced leverage over time. Stockholders' equity has increased, enhancing the equity ratio and overall financial stability. However, the high total debt remains a potential risk.

Cash Flow

Cash flow results highlight volatility, with fluctuating operating cash flow and negative free cash flow in recent years. The ratio of operating cash flow to net income suggests room for improvement in cash generation capabilities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.20B	7.71B	13.19B	8.83B	9.52B	6.56B
Gross Profit	919.27M	820.22M	2.98B	1.13B	672.56M	1.03B
EBITDA	850.48M	608.93M	590.57M	563.42M	236.57M	614.25M
Net Income	471.28M	479.36M	-69.70M	3.91M	3.22M	-1.17B
Balance Sheet
Total Assets	0.00	19.67B	18.92B	27.93B	27.99B	27.20B
Cash, Cash Equivalents and Short-Term Investments	2.09B	2.09B	2.28B	200.65M	406.87M	396.55M
Total Debt	0.00	3.69B	5.49B	17.54B	18.11B	18.44B
Total Liabilities	-7.70B	11.97B	14.28B	24.44B	24.72B	24.43B
Stockholders Equity	7.70B	7.70B	4.60B	3.42B	3.20B	2.62B
Cash Flow
Free Cash Flow	0.00	-770.82M	5.28B	195.31M	-196.13M	-3.03B
Operating Cash Flow	0.00	-765.08M	5.94B	200.36M	-189.60M	-3.02B
Investing Cash Flow	0.00	-1.05B	-66.35M	459.19M	359.61M	908.26M
Financing Cash Flow	0.00	831.48M	-4.10B	-865.77M	-159.69M	2.31B

SPML Infra Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 175.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SPMLINFRA, the sentiment is Negative. The current price of 175.9 is below the 20-day moving average (MA) of 188.84, below the 50-day MA of 210.63, and below the 200-day MA of 222.12, indicating a bearish trend. The MACD of -10.42 indicates Negative momentum. The RSI at 33.81 is Neutral, neither overbought nor oversold. The STOCH value of 30.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SPMLINFRA.

SPML Infra Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SALASAR	69 Neutral	₹15.45B	49.61	―	―	27.20%	-45.92%
VASCONEQ	61 Neutral	₹10.45B	7.17	―	―	3.46%	159.96%
RPPINFRA	60 Neutral	₹4.89B	7.95	―	0.50%	-7.32%	-26.92%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SPMLINFRA	54 Neutral	₹12.61B	26.20	―	―	-35.16%	115.70%
BLKASHYAP	52 Neutral	₹11.77B	13,310.53	―	―	-4.30%	-99.86%

SPML Infra Limited Corporate Events

SPML Infra Secures ₹207 Crore Project to Boost Water Supply in Rajasthan

SPML Infra Limited has secured a ₹207.38 Crore project under the Jal Jeevan Mission to enhance water supply infrastructure in Rajasthan’s Kota and Bundi regions. This project, in collaboration with Shree Hari Infraprojects, involves constructing and operating water supply facilities, including intake wells, water treatment plants, and pipelines, to provide clean drinking water to over 1.03 million people. The initiative underscores SPML’s commitment to sustainable infrastructure and aligns with India’s vision of ‘Viksit Bharat 2047’, enhancing the company’s position in the water infrastructure sector.

SPML Infra Limited Announces EGM Details

SPML Infra Limited announced the publication of a newspaper advertisement regarding the pre-dispatch notice of its upcoming Extra-Ordinary General Meeting (EGM) scheduled for December 10, 2025. The meeting will be conducted via video conferencing, and details about remote e-voting have been shared. This announcement is part of the company’s compliance with SEBI regulations, ensuring transparency and communication with its stakeholders.

SPML Infra Limited Allots 562,303 Equity Shares to Strengthen Capital Structure

SPML Infra Limited has announced the allotment of 562,303 equity shares following the exercise of rights attached to convertible warrants. This strategic move, approved by the Board of Directors, involves the conversion of warrants at a premium price, indicating a strengthening of ties with Zoom Industrial Services Ltd, a member of the promoter group. This development aligns with regulatory requirements and is expected to enhance SPML Infra’s capital structure, potentially impacting its market positioning and stakeholder interests positively.