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S P Apparels Ltd

NSE: SPAL BSE: 540048

762.95

(-2.55%)

Wed, 15 Apr 2026, 07:59 pm

S P Apparels Analysis

dividend

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Pros

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    Cons

    • Unable to calculate sustainability of dividends as S.P. Apparels has not reported any payouts.
    • Unable to evaluate S.P. Apparels's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
    • Unable to evaluate S.P. Apparels's dividend against the top 25% market benchmark as the company has not reported any payouts.

    future

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    Pros

    • Cash flow for S.P. Apparels is expected to increase by more than 50% in 2 years time.
    • S.P. Apparels's earnings are expected to grow significantly at over 20% yearly.
    • S.P. Apparels's earnings growth is expected to exceed the India market average.
    • S.P. Apparels's earnings growth is expected to exceed the low risk savings rate of 7.2%.
    • S.P. Apparels's earnings are expected to exceed the low risk growth rate next year.
    • S.P. Apparels's revenue growth is expected to exceed the India market average.
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    Cons

    • S.P. Apparels's revenue is expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).

    health

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    Pros

    • S.P. Apparels is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
    • S.P. Apparels is profitable, therefore cash runway is not a concern.
    • S.P. Apparels is profitable, therefore cash runway is not a concern.
    • Debt is well covered by operating cash flow (38.5%, greater than 20% of total debt).
    • Debt is covered by short term assets, assets are 2.2x debt.
    • S.P. Apparels's cash and other short term assets cover its long term commitments.
    • The level of debt compared to net worth has been reduced over the past 5 years (275.2% vs 41.3% today).
    • Interest payments on debt are well covered by earnings (EBIT is 4.7x coverage).
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    Cons

    • S.P. Apparels's level of debt (41.3%) compared to net worth is high (greater than 40%).
    • High level of physical assets or inventory.

    management

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    Pros

    • The tenure for the S.P. Apparels board of directors is about average.
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    Cons

    • Perumal's remuneration is higher than average for companies of similar size in India.
    • Perumal's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.

    misc

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    Pros

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      Cons

      • S.P. Apparels has significant price volatility in the past 3 months.

      past

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      Pros

      • S.P. Apparels has delivered over 20% year on year earnings growth in the past 5 years.
      • S.P. Apparels used its assets more efficiently than the IN Luxury industry average last year based on Return on Assets.
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      Cons

      • S.P. Apparels's 1-year earnings growth is negative, it can't be compared to the 5-year average.
      • S.P. Apparels's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
      • S.P. Apparels has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
      • S.P. Apparels's 1-year earnings growth is negative, it can't be compared to the IN Luxury industry average.

      value

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      Pros

      • S.P. Apparels's share price is below the future cash flow value, and at a moderate discount (> 20%).
      • S.P. Apparels's share price is below the future cash flow value, and at a substantial discount (> 40%).
      • S.P. Apparels is good value based on assets compared to the IN Luxury industry average.
      • S.P. Apparels is good value based on expected growth next year.
      • S.P. Apparels is good value based on earnings compared to the IN Luxury industry average.
      • S.P. Apparels is good value based on earnings compared to the India market.
      • BSE:540048 is up 16.4% outperforming the Luxury industry which returned 9.8% over the past month.
      • BSE:540048 is up 16.4% outperforming the market in India which returned 8% over the past month.
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      Cons

      • 540048 underperformed the Luxury industry which returned -22.1% over the past year.
      • 540048 underperformed the Market in India which returned -14.5% over the past year.

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      Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800