Spectrum Electrical Industries
SPECTRUM NSE
Spectrum Electrical Industries
Capital GoodsNSE: SPECTRUM BSE: 544386 Industrial Products
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsMarket Cap
₹5,712 Cr
P/E (TTM)
110.39
EBITDA
₹85.10 Cr
Return on Equity
18.16%
Debt to Equity
1.02
Book Value
₹144.92
EPS (TTM)
₹32.93
52W High
₹3,988.00
52W Low
₹1,050.00
Price-based figures as of 9 Oct 2026, 11:55 am IST · EPS basis: Consolidated · TTM
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
4- Company is expected to give good quarter
- Company has delivered good profit growth of 49.7% CAGR over last 5 years
- Debtor days have improved from 87.9 to 60.0 days.
- Company's working capital requirements have reduced from 36.8 days to 28.9 days
Weaknesses
4- Stock is trading at 24.7 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -5.84%
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
30.6% higher than
3Y
Net Income Growth
75.2% higher than
3Y
Cash Flow Change
459%
EBITDA Margin (Avg.)
11.49% lower than
3Y
AI Analysis — Bull vs Bear
Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high
Spectrum Electrical Industries Ltd is a small-cap industrials company with a market cap of Rs 3,097 Cr, trading at a PE of 65.9x and 11.99x book value. The company has delivered strong profit growth of ~74% CAGR over 3 years and 31% TTM sales growth, but pays virtually no dividend (0.05% yield) and trades at a significant premium to book value.
Bull Case 8
- Compounded profit growth of 74% CAGR over 3 years demonstrates strong earnings momentum
- TTM sales growth of 31% indicates robust top-line expansion in the current period
- 5-year compounded sales CAGR of 28% shows consistent long-term revenue growth trajectory
- ROE improved to 20% in the last year from a 5-year average of 15%, indicating improving capital efficiency
- Debtor days improved from 87.9 to 60.0 days, reflecting better receivables management and cash conversion
- Working capital days reduced from 38.0 to 28.9 days, freeing up cash for operations and growth
- Stock CAGR of 105% over 5 years reflects sustained market confidence in the business model
- Company is expected to deliver a good quarter, suggesting near-term earnings visibility remains intact
Bear Case 8
- PE ratio of 65.9x is expensive relative to typical industrial sector multiples, leaving limited margin of safety
- Price-to-book of 11.99x is elevated, meaning significant goodwill and growth expectations are priced in
- Despite reporting repeated profits, the company pays a negligible dividend yield of just 0.05%, returning almost nothing to shareholders
- Potential capitalization of interest costs could be inflating reported profits and asset values
- Key financial ratios like debt-to-equity and ROCE are unavailable, limiting visibility into balance sheet risk and true capital efficiency
- 1-year stock CAGR of 24% has moderated sharply from the 5-year CAGR of 105%, suggesting re-rating tailwinds may be fading
- Small-cap market cap of Rs 3,097 Cr implies higher liquidity risk and volatility compared to larger peers
- Absence of 52-week high/low data (reported as 0) limits technical risk assessment for the stock
This is AI-generated analysis, not financial advice. Do your own due diligence.
Quarterly Results
| Particulars | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 75 | 87 | 71 | 169 | 85 | 118 | 125 | 198 | 155 |
| Expenses | 66 | 79 | 61 | 143 | 74 | 102 | 106 | 164 | 130 |
| Operating Profit | 10 | 8 | 10 | 25 | 12 | 15 | 19 | 34 | 24 |
| OPM % | 13% | 9% | 15% | 15% | 14% | 13% | 15% | 17% | 16% |
| Other Income | 0 | 6 | 0 | 1 | 2 | 2 | 1 | 0 | 2 |
| Interest | 3 | 2 | 4 | 4 | 5 | 3 | 5 | 3 | 5 |
| Depreciation | 2 | 3 | 2 | 2 | 3 | 3 | 3 | 3 | 3 |
| PBT | 4 | 10 | 4 | 20 | 6 | 12 | 12 | 28 | 18 |
| Tax % | 54% | 26% | 38% | 31% | 11% | 34% | 17% | 24% | 26% |
| Net Profit | 2 | 7 | 3 | 14 | 6 | 8 | 10 | 21 | 13 |
| EPS in Rs | 1.38 | 4.59 | 1.74 | 8.7 | 3.65 | 4.93 | 6.44 | 13.27 | 8.29 |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 147 | 141 | 151 | 251 | 253 | 328 | 402 | 526 | 595 |
| Expenses | 129 | 126 | 133 | 226 | 230 | 287 | 348 | 446 | 503 |
| Operating Profit | 18 | 15 | 19 | 25 | 23 | 41 | 54 | 80 | 92 |
| OPM % | 12% | 10% | 12% | 10% | 9% | 12% | 13% | 15% | 16% |
| Other Income | 1 | 1 | 2 | 1 | 5 | 6 | 5 | 5 | 5 |
| Interest | 3 | 3 | 6 | 8 | 7 | 10 | 13 | 15 | 15 |
| Depreciation | 6 | 6 | 6 | 8 | 9 | 10 | 9 | 12 | 13 |
| PBT | 10 | 6 | 8 | 11 | 12 | 27 | 36 | 58 | 69 |
| Tax % | 28% | 28% | 28% | 28% | 28% | 28% | 29% | 23% | — |
| Net Profit | 7 | 5 | 6 | 8 | 8 | 19 | 25 | 44 | 52 |
| EPS in Rs | 4.85 | 3.1 | 3.91 | 5.07 | 5.59 | 12.44 | 16.41 | 28.27 | 32.93 |
| Div. Payout % | 0% | 0% | 26% | 20% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 16 | 16 | 16 |
| Reserves | 51 | 56 | 62 | 68 | 77 | 150 | 175 | 229 |
| Borrowings | 46 | 67 | 78 | 79 | 99 | 94 | 185 | 249 |
| Other Liabilities | 31 | 22 | 34 | 56 | 64 | 59 | 69 | 174 |
| Total Liabilities | 143 | 159 | 189 | 218 | 255 | 318 | 445 | 668 |
| Fixed Assets | 45 | 45 | 70 | 80 | 79 | 87 | 139 | 146 |
| CWIP | 6 | 20 | 5 | 9 | 15 | 23 | 38 | 172 |
| Investments | 9 | 10 | 11 | 12 | 13 | 0 | 1 | 1 |
| Other Assets | 83 | 84 | 103 | 116 | 149 | 209 | 268 | 349 |
| Total Assets | 143 | 159 | 189 | 218 | 255 | 318 | 445 | 668 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | -17 | 3 | 15 | 21 | 2 | 4 | -26 | 94 |
| Investing | -12 | -20 | -15 | -23 | -9 | -38 | -53 | -136 |
| Financing | 29 | 18 | 5 | -5 | 14 | 37 | 72 | 48 |
| Net Cash Flow | 0 | 1 | 6 | -6 | 6 | 3 | -7 | 6 |
| Free Cash Flow | -24 | -17 | -1 | -1 | -12 | -15 | -88 | -48 |
| CFO/OP | -83 | 36 | 92 | 96 | 22 | 29 | -28 | 136 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 61 | 61 | 50 | 60 | 91 | 113 | 60 |
| Inventory Days | 139 | 157 | 207 | 135 | 146 | 102 | 101 | 157 |
| Days Payable | 98 | 55 | 86 | 79 | 103 | 60 | 54 | 92 |
| Cash Conversion Cycle | 105 | 163 | 182 | 106 | 103 | 133 | 160 | 124 |
| Working Capital Days | 36 | 42 | 34 | 21 | 4 | 34 | 47 | 29 |
| ROCE % | — | 8% | 10% | 12% | 11% | 16% | 15% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Spectrum Electrical Industries insights
62 extracted metrics + investor summaries across FY19–FY27.
Documents
1
Clarification sought from Spectrum Electrical Industries Ltd
7 Jul - Exchange has sought clarification from Spectrum Electrical Industries Ltd on July 07, 2026, with reference to Movement in Volume. 7 Jul - Exchange has sought clarification from Spectrum Electrical Industries Ltd on July 07, 2026, with reference to Movement in Volume.
2
Spectrum Electrical Industries Limited Has informed Regarding ''''Execution Of Memorandum Of Understanding (MOU) With The Government Of Maharashtra.
6 May - Spectrum Electrical signed MoU on 06 May 2026 for ₹110 crore expansion in Maharashtra. 6 May - Spectrum Electrical signed MoU on 06 May 2026 for ₹110 crore expansion in Maharashtra.
3
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 -
Clarification On Price Movement Of Share.
5 May - Company clarified share price movement was market-driven, with no undisclosed material information. 5 May - Company clarified share price movement was market-driven, with no undisclosed material information.
4
Spectrum Electrical Industries Limited Has informed About Certificate Under SEBI (Depositories And Participants) Regulations, 2018
7 Apr - Regulation 74(5) certificate filed for quarter ended 31 March 2026; no dematerialisation requests received. 7 Apr - Regulation 74(5) certificate filed for quarter ended 31 March 2026; no dematerialisation requests received.
5
Spectrum Electrical Industries Limited Has informed Regarding ''''Compliance Of Regulation 31 (4) Of SEBI SAST Regulations.
6 Apr - Promoters held 1,14,27,260 shares and reported no encumbrance as of March 31, 2026. 6 Apr - Promoters held 1,14,27,260 shares and reported no encumbrance as of March 31, 2026.
Frequently Asked Questions about Spectrum Electrical Industries
What does Spectrum Electrical Industries Ltd do?
Spectrum Electrical Industries Limited, incorporated in 1995, is engaged in the business of Injection Moulding, manufacturing of Electrical Press Components and Surface treatment of Automobile, Electrical and Stamped parts. [1]
Where is Spectrum Electrical Industries Ltd (SPECTRUM) listed?
Spectrum Electrical Industries Ltd trades as SPECTRUM on the NSE and under code 544386 on the BSE.
Which sector does Spectrum Electrical Industries Ltd belong to?
Spectrum Electrical Industries Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the market capitalisation of Spectrum Electrical Industries Ltd?
Spectrum Electrical Industries Ltd has a market capitalisation of ₹5,712 Cr as of 9 Oct 2026, which places it in the Mid Cap band.
What is the PE ratio of Spectrum Electrical Industries Ltd?
Spectrum Electrical Industries Ltd trades at a PE ratio of 110.39 as of 9 Oct 2026, on earnings per share of ₹32.93, against a book value of ₹144.92 per share.
What is the 52-week high and low of Spectrum Electrical Industries Ltd?
Over the last 52 weeks Spectrum Electrical Industries Ltd has traded between ₹1,050 and ₹3,988 as of 9 Oct 2026.
Does Spectrum Electrical Industries Ltd pay dividends?
Spectrum Electrical Industries Ltd has a dividend yield of 0.03%.
What is the Return on Equity (ROE) of Spectrum Electrical Industries Ltd?
Spectrum Electrical Industries Ltd reported a return on equity of 18.16%. Its debt-to-equity ratio is 1.02.
Company Information
Spectrum Electrical Industries Limited, incorporated in 1995, is engaged in the business of Injection Moulding, manufacturing of Electrical Press Components and Surface treatment of Automobile, Electrical and Stamped parts. [1]
Listed 2025-03-28
Face Value ₹ 10
Shares Outstanding 1,57,13,840
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