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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
SPL Industries Limited is an India-based company, which is a manufacturer and exporter of Knitted fabric and Knitted garments. It also engages in a range of processing activities including printing, dyeing, coloring, spinning, weaving, combing, knitting, and bleaching. It has…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A middling, stagnant business, fairly priced — but flagged on governance.
SPL Industries is scored on the general / industrial framework. It keeps a slim 8.0% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 2.04× reported profit. Free cash flow is worth about 0.2% of its market value.
Over the last 3 years revenue compounded at -33%/yr and profit at -33%/yr. Book value has grown 5%/yr. Return on equity is a weak 3.3%. In the latest quarter profit fell 46% versus the prior quarter.
At 12× earnings, the stock sits at the 57th percentile of its own 3.6-year range — the middle of where it has historically traded. Today's price asks for only ~-1%/yr growth over a decade — undemanding expectations. The forensic screen raises a red flag: 315% of pre-tax profit is other income, not operations.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 9.64 | — | — |
| P/B | 0.35 | — | — |
| EV/EBITDA | 5.62 | — | — |
| ROE | 3.27 | 10.87 | worse |
| ROCE | 3.62 | 5.74 | worse |
| ROA | -55.26 | — | — |
| Quick Ratio | 5.67 | 10.08 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Grasim Industries | 19.5 | 2.1 | 4.8% |
| Welspun India | 51.6 | 4.5 | 8.6% |
| Vardhman Textiles | 14.3 | 1.3 | 7.1% |
Revenue declined 42% in the latest year — a break from prior trajectory. Negative CAGR — the top line has shrunk over this window. Growth is decelerating — latest year grew slower than the year before.
Operating margin has compressed from 11% to 7% — costs or competition are eating into profitability. Interest or tax burden is shrinking — more of the operating profit is reaching the bottom line.
ROE at 3% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 9pp.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. -33% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 2.0× PAT — earnings are well-backed by cash; strong accrual quality.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 19% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (38% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 34% above earlier ones.
1 of 4 quarters loss-making — quarterly profitability is uneven. Profit fell 46% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly net margins are expanding (-1% → 9%) — profitability per rupee of revenue is improving.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold 74.8% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.