SPMLINFRAIndustrials

SPML Infra Limited

Civil Construction · ISIN INE937A01023 · BSE 500402 · NSE EQ · FV ₹2
Last price
₹171
-0.79%today
What this company does

SPML Infra Limited operates in Civil Construction, part of the Industrials sector. It booked ₹284 cr of revenue in its latest quarter (Q1 FY27) and kept -0.1% of sales as profit.

The Company is primarily operating in India which is considered as single geographical segment.
In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 60–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
35

At close. Not part of the score.

Profitability & returns17

How much profit it earns on the money it employs

Balance sheet50

How much it owes, and whether earnings cover the interest

Cash quality25

Whether reported profit actually arrives as cash

Growth & consistency62

Whether sales and profit have grown, and how steadily

Valuation67

What today's price implies, against our models or its peers

Governance & risk63

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 82% vs last year
Promoters hold 41%
Watch-outs
! Thin -0.1% net margin
! 22.9% of promoter stake pledged
! Low -0.1% return on equity
! Operating cash flow is negative

What if I invest in SPMLINFRA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹171 -0.79%
latest close · 2026-09-17
1-year return
+1473.0%
52-wk low ₹1052-wk high ₹210
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio15.6Average
LowAverageHigh
P/B ratio1.59Moderate
Below bookModerateHigh
EV / EBITDA15.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-0.1%Loss
WeakFairStrong ▸15%
Return on capital7.3%Weak
WeakFairStrong
Net margin-0.1%Loss
ThinDecentStrong
EBITDA margin9.9%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.37Comfortable
LowModerateHigh ▸1
Interest cover5.6×Strong
RiskyOkayStrong ▸5×
Current ratio1.70Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,510 cr
Book value
₹107
EPS
₹2.74
latest quarter
Net debt
₹283 cr
owes more than its cash
Enterprise value
₹1,793 cr
EBITDA
₹113 cr
annualised
EBIT
₹111 cr
annualised
Operating margin
9.7%
Return on assets
-0.0%
Earnings yield
6.42%
P/S
1.33
Sales / share
₹128.5
Tax rate
0.0%
Face value
₹2
Shares
8.8 cr
Working capital
₹545 cr
Current assets
₹1,328 cr
Current liabilities
₹783 cr
Delivery %
52.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹2₹2, midpoint ₹2

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹284 cr
Other Income₹1 cr
Total Income₹286 cr
Cost of Materials₹232 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹10 cr
Finance Costs₹5 cr
Depreciation & Amortisation₹58.4 L
Other Expenses₹15 cr
Total Expenses₹263 cr
Profit before Tax₹23 cr
Tax Expense₹0.3 L
Share of JV / Associates₹-2.1 L
Net Profit₹23 cr
Net margin on total income7.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹232 cr81.1%
Employee benefit expense₹10 cr3.7%
Finance costs₹5 cr1.7%
Depreciation & amortisation₹58.4 L0.2%
Other expenses₹15 cr5.3%
Tax expense₹0.3 L0.0%
Profit for the period₹23 cr7.9%
Total income ₹286 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue230 cr291 cr284 cr
Total income231 cr294 cr286 cr
Expenses211 cr273 cr263 cr
Profit before tax20 cr21 cr23 cr
Tax0 cr-7 cr0.3 L
Net profit (owners' share)20 cr27 cr-20.7 L
Net margin (owners' share, on revenue)8.9%9.4%-0.1%
EPS (₹)2.753.392.74
YoY (latest quarter): total income +65.2% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹2,296 cr
Shareholder equity
₹948 cr
parent shareholders
Total debt
₹346 cr
Cash
₹64 cr
Cash flow · H1 FY26
Operating
₹-49 cr
Investing
₹-33 cr
Financing
₹35 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limited₹3,836₹5.28 L cr32.0
Rail Vikas Nigam Limited₹202₹42,055 cr66.3
Kalpataru Projects International Limited₹1,399₹23,900 cr19.3
IRB Infrastructure Developers Limited₹19₹22,767 cr18.9
NBCC (India) Limited₹82₹22,175 cr36.0
Cemindia Projects Limited₹1,255₹21,563 cr38.3
Engineers India Limited₹264₹14,824 cr23.5
Techno Electric & Engineering Company Limited₹985₹11,452 cr30.7
KEC International Limited₹402₹10,700 cr36.8
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-07-27
22.9% pledged
Promoter
40.5%
FII / Foreign
0.4%
DII / Domestic
14.7%
Retail / others
44.4%
Promoter stake up 4.9% over the last 12 quarters.
Smart-money activity
Insider trades
SoldShilpa Sethi · Promoters1.82 L · ₹1.4 cr25 Jul 18
SoldDeepak Sethi · Promoters250 · ₹18,78825 Jul 18
SoldAnil Kumar Sethi · Promoters17.76 L · ₹13.3 cr25 Jul 18
Bulk / block deals
BoughtHRTI PRIVATE LIMITED · NSE5.30 L @ ₹183.3411 Mar 26
SoldHRTI PRIVATE LIMITED · NSE4.01 L @ ₹183.4711 Mar 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE8.04 L @ ₹190.725 Mar 26
Stake changes
BoughtSPML India Ltd. · promoter→ 8.19% · 21.09 L20 Nov 25
SoldClient Rosehill Limited→ 5.21% · 24.00 L6 Sep 24
BothSPML Industries Ltd→ 11.12% · 4.80 L23 May 24
Promoter pledges
PledgedNARCL/SBICAP Trustee Co. Ltd.1.55 L · 2.75% held23 Dec 25
PledgedNARCL/ SBICAP Trustee Co. Ltd4.33 L · 2.18% held1 Dec 25
PledgedNARCL/ SBICAP Trustee Co. Ltd75,911 · 2.17% held17 Nov 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 27 Aug 2026
See the official result
1
Re-appointment of Mr. Tiruvidaimarudhur Srivatsan Sivashankar (DIN: 02720714 ) as an Independent Director of the Company
Backed by 100% of shareholders other than promotersneeded 75%
24.37 L votes for, 503 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 13 named members
owning 36.3% between them · as of 2026-07-27
ZOOM INDUSTRIAL SERVICES LTD17.20%
NIRAL ENTERPRISES PRIVATE LIMITED8.95%
SPML INDIA LIMITED7.84%
20TH CENTURY ENGINEERING LIMITED1.18%
ARIHANT LEASING AND HOLDING LIMITED0.51%
PUNAM CHAND SETHI0.44%
SUMAN SETHI0.22%
ABHINANDAN SETHIno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹1 cr to companies in the promoter group last year — about 0.1% of its ₹771 cr revenue.
SUBHASH CHAND SETHI
Other payments to them · MANAGERIAL REMUNERATION PAID
₹1 cr
company paid

The company also transacted with 2 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹3 cr raised in Oct 2024 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Jun 2026, so there is nothing to measure it against yet. ICRA LIMITED watches the spending on the exchange’s behalf.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.