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S P Apparels

SPAL
Small Cap
(%) 1D
1D1W1M3M6M1YMAX

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S P Apparels Share price and Fundamental Analysis

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S.P. Apparels Limited (SPAL) is one of the leading manufacturers and exporters of knitted garments for infants and children in India. The company has integrated manufacturing facilities which provides end-to-end garment manufacturing from greige fabric to finished products. The company also manufactures and retails menswear garments in India under the brand Crocodile'. SPAL's business consists of two main divisions - (i) garments division for manufacture and the export of knitted garments for infants and children; and (ii) retail division for manufacture, distribution and marketing of products in India under the brand name Crocodile'.
Company Incorporation2005
ChairmanP Sundarajan
Head QuartersNA
Previous NameNA

Key Metrics

Market Cap (Cr)
2,031.12
PE Ratio
21.35
Industry P/E
24.24
PEG Ratio
3.51
ROE
11.11%
ROCE
12.59%
ROA
6.49%
Total Debt (Cr)
257.02
Debt to Equity
0.44
Dividend Yield
0%
EPS
37.92
Book Value & P/B
342.63 x 2.36
Face Value
10
Outstanding Shares(Cr)
2.51
Current Ratio
3.85
EV to Sales
1.79

Included In

S&P BSE Small-CapIndex
S&P BSE Allcap IndexIndex

Stock Returns

1 Week-8.34%
1 Month+9.72%
6 Months-14.77%
1 Year+44.79%
3 Years+136.87%
5 Years+986.14%

CAGR

1 Year CAGR

Revenue Growth

+0.88%

Net Profit Growth

+8.62%

Operating Profit Growth

+5.17%

Dividend Growth

-100%

Stock Returns CAGR

+44.79%
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Mar 25

Promoters : 61.93%

FIIs : 1.81%

DIIs : 19.68%

Public : 16.59%

Promoter
FII/FPI
DII
Public
Promoter Pledge stands at 0.0% of holding in March 2025 Qtr
FII Shareholding Decreased by 0.03% to 1.81% in March 2025 Qtr
DII Shareholding Decreased by 0.16% to 19.68% in March 2025 Qtr

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S P Apparels Management and History

Company Management

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Company History

S.P. Apparels Limited (SPAL) is one of the leading manufacturers and exporters of knitted garments for infants and children in India. The company has integrated manufacturing facilities which provides end-to-end garment manufacturing from greige fabric to finished products. The company also manufactures and retails menswear garments in India under the brand Crocodile'. SPAL's business consists of two main divisions - (i) garments division for manufacture and the export of knitted garments for infants and children; and (ii) retail division for manufacture, distribution and marketing of products in India under the brand name Crocodile'.

SPAL has two subsidiaries viz. Crocodile Products Private Limited (CPPL) and S. P. Apparels (UK) Private Limited (SPUK). CPPL, which is a joint venture between SPAL and Crocodile International Pte. Ltd. (CIPL), is engaged in the business of, inter alia, establishing and managing units to manufacture, trade, deal, import and export garments and has entered into a technology license agreement with CIPL for the exclusive manufacture, distribution and marketing of menswear under the trademark Crocodile' in India. SPUK was incorporated in 2014 to explore possible marketing opportunities and engage in trading activities with new customers in the United Kingdom, Ireland and other European countries.

SPAL operates on a hub and spoke business model, which includes 24 manufacturing facilities as of June 2018 in and around Avinashi, Tamil Nadu and within 125 km from the corporate office. The wide range of infrastructure and machinery at the company's facilities for the production of yarn, dyeing of fabric, sewing, cutting, printing, embroidery and finishing of garments, enables the company to service its customers with multiple bulk orders in a timely manner. The proximity of the company's manufacturing facilities and an integrated set-up allows the company to optimize its operations and services customers in a timely manner.

S.P. Apparels came out with an initial public offer (IPO) in August 2016. The IPO included 80,22,388 equity shares as fresh issue and 9,00,000 equity shares by way of Offer for sale by New York Life Investment Management India Fund (FVCI) II LLC.

During the financial year ended 31 March 2016, the company added 120 new sewing machines. The Processing Division achieved 85% utilization of its capacity. The embroidery and printing factories achieved 90% of their capacities during the year. The efficiency level of the factories of the Garment Division has shown improvement in the range of 5% to 10% during the year under review. The retail division has shown significant growth in terms of increase of retail stores to 40 across the country.

During the year under review, the company converted 72,49,454 numbers of 6% Compulsorily Convertible Preference Shares (6% CCPS) of Rs.10/- each and issued 3,45,212 equity shares of Rs.10/- each paid up (including a premium of Rs.200/-) per share and allotted the same in favour of M/s. Euro Asia Agencies Limited, Hong Kong.

During the financial year ended 31 March 2017, S.P. Apparels increased the capacity of yarn production by adding a few machines. During the year under review, the company balanced its dyeing and finishing capacities by adding a compacting machine. During the year under review, the company added 300 new sewing machines. During the year, the company's retail business grew due to increase in the number of stores and change in the product mix offered to customers.

During the year under review, growth in the company's garment division was supported by the increase in capacities and increase in customer demand. Higher growth led to increase in margins. Increase in capacity of the garment division was due to setting up of new factories as also increase in capacities of the existing factories. During the year under review, the company re-aligned its product mix of the garment division. This new product mix also helped the garment division improve worker efficiency and this contributed to revenue growth of the division.

The company's Large Format Stores' sales also grew substantially due to opening up of new outlets. The company's products were well accepted in all regions and its partners offered it more space looking at the brand's performance. E-commerce business posted good growth as the company targeted quality conscious customers.

During the year under review, S.P. Apparels' subsidiary S. P. Apparels (UK) Private Limited (SPUK) started business relationship with some new customers and also started working on new products.

S P Apparels Share Price

S P Apparels share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.

S P Apparels Market Cap

Market capitalization of S P Apparels indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how S P Apparels is valued compared to its competitors.

S P Apparels PE Ratio

S P Apparels PE ratio helps investors understand what is the market value of each stock compared to S P Apparels 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.

S P Apparels PEG Ratio

The PEG ratio of S P Apparels evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.

S P Apparels ROE (Return on Equity)

Return on Equity (ROE) measures how effectively S P Apparels generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.

S P Apparels ROCE (Return on Capital Employed)

Return on Capital Employed (ROCE) evaluates the profitability of S P Apparels in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.

S P Apparels Total Debt

Total debt of S P Apparels shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.

S P Apparels Debt to Equity Ratio

The Debt-to-Equity (DE) ratio of S P Apparels compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.

S P Apparels CAGR (Compound Annual Growth Rate)

CAGR shows the consistent growth rate of S P Apparels over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.

S P Apparels Technical Analysis

Technical analysis of S P Apparels helps investors get an insight into when they can enter or exit the stock. Key components of S P Apparels Technical Analysis include:

Support Levels (S1, S2, S3)

There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.

Resistance Levels (R1, R2, R3)

There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where S P Apparels shares often struggle to rise above due to selling pressure.

S P Apparels Dividends

Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect S P Apparels ’s financial health and profitability.

S P Apparels Bonus Shares

Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.

S P Apparels Stock Split

Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.

S P Apparels Financials

The financials of S P Apparels provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.

S P Apparels Profit and Loss Statements

The profit and loss statement of S P Apparels highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of S P Apparels .

S P Apparels Balance Sheet

The balance sheet presents a snapshot of S P Apparels ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.

S P Apparels Cashflow Statements

Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.

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