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Prices as of 9 Oct 2026 close · Not investment advice

S. P. Apparels Limited

NSE: SPALGarments & Apparels

Share price

₹913.60

-1.00% close of 9 Oct 2026

Market cap ₹2,284 CrP/E 21.7

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

61

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹2,284 Cr

P/E ratio

21.7

P/B ratio

2.4

ROCE

14.0%

ROE

11.2%

Dividend yield

0.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹1,178.6052-week low ₹608.85

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 1.5% over the past year, and 10.2% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 17.2% to 13.9% over the last four years.

Whether it grew faster than its sector

It grew 10.2% a year against a sector median of 7.2% — 2.9 percentage points faster.

Room to re-rate, or risk of de-rating

At 21.7× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 37.7×, across 5 companies. It is against its own five-year median of 17.9×, the 77th percentile of its own range.

Whether growth justifies the valuation

Priced at 3.1 times its growth rate, on earnings growth of 7%.

Profit growthPrice per ₹1 profitPer 1% growth
S. P. Apparels Limited — this one7%/yr21.7×₹3.1
Page Industries Limited11%/yr53.6×₹4.9
Arvind Limited6%/yr30.5×₹5.1
Pearl Global Industries Limited25%/yr37.7×₹1.5
Gokaldas Exports Limited-25%/yr48.0×—
Lux Industries Limited-9%/yr31.9×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Garments & Apparels), it ranks 13 of 34 on returns, 13 of 32 on growth, 8 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 14% on capital, ahead of 62% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹575 crore of cash from the business, spent ₹326 crore on plant and equipment, and returned ₹10 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 131 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back faster than it used to: it went from being waiting 80 days for its cash to waiting 24 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

9 of 10 checks clear · 90%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Flat revenue but profit up 18%, with the garment margin at 17.6%

Announced 11 Aug 2026 · Consolidated · Unaudited

Revenue

₹401 Cr

Revenue vs last year

-0.5%

Revenue vs last quarter

+9.9%

Net profit

₹25 Cr

Profit vs last year

+18.4%

Profit vs last quarter

+30.9%

Net margin

6.2%

EPS

₹9.89

Earnings call transcript · 13 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹2,284 Cr
Prev close
₹913.60
52w High
₹1,222
52w Low
₹600
Enterprise value
₹2,630 Cr
Beta
1.0
Price CAGR 1y
36.0%
Price CAGR 3y
23.0%
Price CAGR 5y
23.0%
Price CAGR 10y
11.0%

Ratios

Return on assets
6.3%
PEG ratio
3.1
P/E ratio
21.7
P/B ratio
2.4
EV / EBITDA
12.0
Industry P/E
21.2
ROCE
14.0%
ROCE 5y average
14.4%
ROE
11.2%
Debt / Equity
0.4
Interest coverage
4.4
Dividend yield
0.3%
ROE 3y average
11.0%
ROE last year
11.0%

Annual P&L

Annual revenue
₹1,578 Cr
Annual profit
₹101 Cr
Operating margin
13.0%
Net profit margin
6.4%
EBITDA margin
13.4%
Sales growth 3y
13.4%
Sales growth 5y
19.3%
Profit growth 3y
7.0%
Profit growth 5y
18.0%
EPS
₹40.2
Sales growth TTM
1.0%
Profit growth TTM
7.0%
Dividend payout
7.0%

Quarter P&L

Sales latest quarter
₹401 Cr
Profit latest quarter
₹25 Cr
YoY quarterly sales growth
-0.6%
YoY quarterly profit growth
19.0%
OPM latest quarter
15.1%

Balance Sheet

Book Value
₹378
Face Value
₹10.0
Total debt
₹419 Cr
Total cash
₹59 Cr
Borrowings
₹419 Cr
Reserves / Equity
36.8

Cash Flow

Operating cash flow
₹209 Cr
Free cash flow
₹103 Cr
FCF yield
2.7%
Net cash flow
₹18 Cr

Shareholding

Promoter holding
61.8%
FII holding
1.5%
DII holding
16.1%
Public holding
20.6%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Page Industries36,602.3552.240,8261.47192.8-4.01,420.57.964.4
Arvind Ltd509.3531.513,8560.8657.825.92,501.024.614.7
Pearl Global Ind1,269.1037.411,7240.5699.250.91,528.324.519.9
Gokaldas Exports658.5046.94,8250.0044.36.81,153.520.77.7
Lux Industries1,116.9532.43,3590.1722.0-8.1615.31.87.7
SBC Exports63.2288.73,0100.009.4269.8106.072.816.8
Kewal Kir.Cloth.469.5019.52,8930.8441.021.5279.019.417.2
S P Apparels926.5022.22,3290.3124.916.4401.1-0.614.0
Median122.5020.94120.006.915.8111.99.914.0

Competes with: Addi Industries Limited, Arvind Limited, Bang Overseas Limited, Bella Casa Fashion & Retail Limited, Cantabil Retail India Limited, Celebrity Fashions Limited, Dollar Industries Limited, Filatex Fashions Limited, Gokaldas Exports Limited, Indian Terrain Fashions Limited, Iris Clothings Limited, Kewal Kiran Clothing Limited, Kitex Garments Limited, Libas Consumer Products Limited, Lorenzini Apparels Limited, Lovable Lingerie Limited, Lux Industries Limited, Mittal Life Style Limited, Monte Carlo Fashions Limited, Nandani Creation Limited, Page Industries Limited, Pearl Global Industries Limited, Rupa & Company Limited, SBC Exports Limited, Saraswati Saree Depot Limited, Thomas Scott (India) Limited, VIP Clothing Limited, Vaxtex Cotfab Limited, Vinny Overseas Limited, Virat Industries Limited, Visagar Polytex Limited, Vishal Fabrics Limited, Zodiac Clothing Company Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales248292252295245391359399403427383365401
Expenses212246218254212342308345351365329321341
Material Cost15315010998134
Change in Inventories-3.12-8.312417-5.30
Purchases of Stock-in-Trade2239265141
Employee Cost1031061008999
Other Expenses7577676671
Operating Profit36473441335051545362544460
OPM %15161414131314141315141215
Other Income4652323427644
Exceptional items (within Other Income)-0.710-3.000-0.97
Interest6453511810121010915
Depreciation91099101112111112121213
Profit before tax25382430213034373147372636
Tax %4026285122829193226273031
Net Profit15291828182224302135271925
EPS in Rs5.98117.03117.208.759.64128.5314117.359.91
Diluted EPS in Rs8.2014117.389.86

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4715326326628258086528591,0811,0871,3951,5791,576
Expenses4034475285556917245477079359291,2071,3671,357
Material Cost510
Change in Inventories29
Purchases of Stock-in-Trade138
Employee Cost399
Other Expenses284
Operating Profit698510410613484105152146158188212220
OPM %15161616161016181415131314
Other Income7-122116313192016121820
Exceptional items (within Other Income)0
Interest3125182962314121919334144
Depreciation20201922223032353638434850
Profit before tax242887711094459115111118123141146
Tax %6033383333-6272626242328
Net Profit1019544873474385839095101105
EPS in Rs5.98112119291817333336384042
Diluted EPS in Rs40
Dividend Payout %-0-0-03-0-013-09-0-07

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
11%
5 years
19%
3 years
13%
TTM
1%

Compounded profit growth

10 years
14%
5 years
18%
3 years
7%
TTM
7%

Stock price CAGR

10 years
11%
5 years
23%
3 years
23%
1 year
36%

Return on equity

10 years
12%
5 years
12%
3 years
11%
Last year
11%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171725252626262625252525
Reserves5996332372458498533612649739831921
Borrowings304279185223211226194231245203381419
Other Liabilities140169134189192143160193179175219226
Minority Interest-6.50
Total Liabilities5205616778108878929121,0621,0971,1421,4561,591
Fixed Assets275277299307317444444450459454595686
CWIP-04-0654-01081019314
Investments1158310003113511058
Other Assets244280319465515448458602515618821843
Total Assets5205616778108878929121,0621,0971,1421,4561,591

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity844926-1828380272167944209
Cash from Investing Activity-6-28-116-15-60-39-21-29-1606-170-189
Cash from Financing Activity-77-209219-17-45-4224-48-6782-1
Net Cash Flow11235-11721819-4418
Free Cash Flow6923-11-40-33236-616425-37103

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days585678915742654935556659
Inventory Days190228147268277233327342223214234167
Days Payable1732091011451228612311674808369
Cash Conversion Cycle7475123215212189269275184190216156
Working Capital Days-79-5820394246748026535124
ROCE %141823171811101615131414

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters626262626262626262626262
FIIs1.501.391.531.591.641.831.811.831.491.831.481.49
DIIs181919192020202020191716
Public181818171716171617182021
No. of Shareholders17,20316,37615,67715,36716,10516,82316,81116,85817,09515,74317,08217,353

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +28.8% (₹709.20 → ₹913.60)Brick size ₹38.32 (fixed)Bricks 35
₹800₹1,000₹914Dec '25Feb '26Apr '26Jun '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹913.60 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

346inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.70cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about S. P. Apparels Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • accessories, trims and packing materials
  • certified cotton including organic, BCI and GOTS cotton
  • cotton yarn and specialized yarn
  • dyes and processing chemicals

Depends on the price of

  • cotton
  • cotton yarn

Sells to

  • Dunnes Stores · knitted garments for infants and children
  • Garan (Garanimals) · childrenswear (US licensed brand)
  • K-Mart · knitted garments for infants and children
  • Marks & Spencer / ASDA (George) · knitted garments for infants and children (private-label)
  • Mothercare · knitted garments for infants and children
  • Primark · knitted garments for infants and children (private-label)
  • Tesco · knitted garments for infants and children (private-label)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Textiles
Industry
Garments & Apparels
Classification
Textiles › Garments & Apparels
ISIN
INE212I01016

Plants

  • Dyeing plant · Perundurai, Tamil Nadu
  • Integrated garment manufacturing facilities (Tirupur cluster)
  • Knitting facility
  • Printing plant · Thekkalur, Tamil Nadu
  • Spinning plant · Avinashi region, Tamil Nadu
  • Young Brand Apparel facility · Palladam, Tamil Nadu

News impact

Big market events that reach S. P. Apparels Limited, and how the effect spreads.

30 Sept, 19:18 IST · Market event · medium impact

Karnataka approves Rs 4,000 cr textile policy

Karnataka approved a Rs 4,000 crore plan to support textile factories, which helps clothes makers and workers, with no direct harm to others except state spending.

Textiles

Who it hits first

  • Karnataka cabinet cleared a Rs 4,000 crore textile policy that aims to attract Rs 20,000 crore of investment into mills, parks and garment units.
  • Textile makers get cheaper expansion through subsidies on land, power and buildings, which should lift their growth hopes.
  • No company gets cash today; gains come later only if firms actually build Karnataka factories and claim the sops.

Who may gain

  • Karnataka-based textile firms and any listed mills that build new units in the state gain most from subsidies.
  • Large listed textile makers like Page Industries, Vardhman Textiles and Welspun Living get a mild sentiment lift as sector investment hopes rise.
  • Textile workers and cotton and yarn suppliers in Karnataka benefit if Rs 20,000 crore of projects create jobs and orders.

Along the supply chain

Downstream

Downstream are garment sewers, home-textile brands and retail shops that get cheaper cloth and more stitching capacity if Karnataka factories come up, plus export buyers who gain another supply base.

Upstream

Upstream are cotton farmers, yarn spinners and textile-machine makers who sell more if new Karnataka mills get built, though no machine order is named yet so this is future hope rather than booked sales.

Where demand moves

Business

Textile firms give business to builders and machine sellers: to claim Karnataka sops they must build spinning, weaving and garment units, ordering construction, textile machinery and power hookups, which later buys more cotton and yarn.

Capital

Investors may pay a little more for textile shares on stronger growth hopes, while Karnataka state commits Rs 4,000 crore of public money to pull Rs 20,000 crore of private factory spending.

How it spreads across sectors

Capital Goods

Mildly positive as new textile mills would order spinning and weaving machines, though no order is announced yet.

Textiles

Positive as Rs 4,000 crore of sops and a Rs 20,000 crore investment target lift growth hopes for mills and garment makers.

When it plays out

Immediate

In 1-7 days textile shares trade mildly higher on the policy headline with no earnings change.

Medium term

In 1-6 months actual investment proposals and groundbreakings show whether the Rs 20,000 crore target is real.

Short term

In 1-4 weeks firms study the fine print on subsidies and announce any Karnataka memorandums or land plans.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

4 Sep 2026unspecified₹3
25 Aug 2025unspecified₹2
15 Sep 2023unspecified₹3
3 Sep 2021unspecified₹2.25
3 Aug 2017unspecified₹0.5

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Bulk & block deals

DateWhoBought / soldSharesPrice
28 Aug 2026SUNDARARAJAN PERUMAL MUDALIARSELL5,00,000₹925.00
28 Aug 2026CARNELIAN ASSET MANAGEMENT & ADVISORS PRIVATE LIMITEDBUY5,00,000₹925.00
15 Jun 2026NK SECURITIES RESEARCH PRIVATE LIMITEDBUY3,46,860₹896.78
15 Jun 2026NK SECURITIES RESEARCH PRIVATE LIMITEDSELL3,46,860₹897.30

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
29 Aug 2026P.Sundararajan · Promoter and DirectorSELL5,00,00046.25

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.