---
title: "Spanco Ltd (SPANCO) — Share Price, Financials & Analysis"
symbol: "SPANCO"
company: "Spanco Ltd"
canonical: "https://tapetide.com/stocks/SPANCO"
generated_at: "2026-10-13T11:01:22.095Z"
---

# Spanco Ltd (SPANCO)

Canonical page: https://tapetide.com/stocks/SPANCO

## Company

- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** spancotele.com

## About

Spanco Limited (Spanco) is an India-based company in the business of creating Technology Infrastructure. Spanco caters to technology infrastructure projects across Government, Power, Transport and Telecom Service Providers space.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.03 times its book value
- Debtor days have improved from 182 to 127 days.
- Company's working capital requirements have reduced from 147 days to 108 days

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| revenue growth | 33% | 9% | 23% |

## Financial Statements

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 18m | Mar 2012 6m | Mar 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 217 | 447 | 622 | 810 | 1371 | 2684 | 1321 | 1763 |
| Expenses | 179 | 380 | 535 | 734 | 1186 | 2294 | 1161 | 2028 |
| Operating Profit | 38 | 67 | 87 | 75 | 184 | 391 | 160 | -265 |
| OPM % | 17 | 15 | 14 | 9 | 13 | 15 | 12 | -15 |
| Other Income | 6 | 7 | 18 | 31 | 22 | 15 | 16 | 21 |
| Interest | 7 | 15 | 33 | 57 | 73 | 159 | 93 | 205 |
| Depreciation | 14 | 9 | 11 | 26 | 37 | 81 | 41 | 97 |
| Profit before tax | 23 | 49 | 61 | 24 | 97 | 165 | 43 | -547 |
| Tax % | 14 | 31 | 37 | 57 | 42 | 40 | 35 | -24 |
| Net Profit | 20 | 34 | 39 | 10 | 56 | 100 | 28 | -414 |
| EPS in Rs | — | 16.34 | 18.69 | 4.87 | 20.03 | 31.82 | 9.29 | -126.04 |
| Dividend Payout % | 14 | 11 | 11 | 10 | 5 | 3 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 16 | 21 | 21 | 21 | 28 | 31 | 31 | 33 |
| Reserves | 124 | 257 | 290 | 304 | 406 | 693 | 719 | 320 |
| Borrowings | 54 | 204 | 438 | 827 | 797 | 976 | 1102 | 1669 |
| Other Liabilities | 50 | 164 | 207 | 471 | 776 | 918 | 1157 | 763 |
| Total Liabilities | 244 | 646 | 956 | 1623 | 2007 | 2618 | 3008 | 2786 |
| Fixed Assets | 38 | 69 | 106 | 199 | 360 | 517 | 470 | 652 |
| CWIP | 24 | 87 | 171 | 273 | 275 | 274 | 545 | 528 |
| Investments | 2 | 14 | 18 | 34 | 20 | 30 | 8 | 93 |
| Other Assets | 180 | 476 | 661 | 1117 | 1352 | 1797 | 1985 | 1513 |
| Total Assets | 244 | 646 | 956 | 1623 | 2007 | 2618 | 3008 | 2786 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -60 | -56 | -150 | -82 | 214 | 82 | 227 | -92 |
| Cash from Investing Activity | -9 | -81 | -70 | -243 | -104 | -314 | -262 | -307 |
| Cash from Financing Activity | 66 | 245 | 217 | 319 | -72 | 205 | 31 | 397 |
| Net Cash Flow | -3 | 109 | -2 | -6 | 38 | -27 | -4 | -2 |
| Free Cash Flow | -70 | -126 | -277 | -291 | 50 | -224 | -36 | -327 |
| CFO/OP | -154 | -66 | -139 | -64 | 125 | 29 | 160 | 34 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Sep 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 163 | 171 | 212 | 235 | 180 | 103 | 237 | 127 |
| Inventory Days | 39 | 11 | 54 | 67 | 81 | 83 | 198 | 128 |
| Days Payable | 154 | 172 | 166 | 312 | 261 | 134 | 331 | 124 |
| Cash Conversion Cycle | 48 | 11 | 100 | -11 | 0 | 52 | 103 | 131 |
| Working Capital Days | 206 | 161 | 234 | 268 | 138 | 95 | 186 | 108 |
| ROCE % | — | 19 | 15 | 8 | 14 | 23 | — | -17 |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/508976/5089760313.pdf) |
| 2013 | [Annual Report 2013](https://archives.nseindia.com/annual_reports/AR_3087_SPANCO_2012_2013_01012014095355.zip) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/508976/5089760312.pdf) |
| 2012 | [Annual Report 2012](https://archives.nseindia.com/annual_reports/AR_SPANCO_2011_2012_17092012101924.zip) |
| Sep 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/508976/5089760911.PDF) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/508976/5089760310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:22.095Z.