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Swing Capital

Spacenet Enterprises India Ltd

NSE: SPCENETIT / Software

Incorporated in 2010, Spacenet Enterprises Ltd is in the business of trading of commodities and providing Information technology related services

₹3.66
52W: ₹3 — ₹11.2
PE 88.4 · Book ₹2.52 · +45% vs book
Market Cap₹208 Cr
Stock P/E88.4Price to Earnings
ROCE3.4%Return on Capital
ROE2.52%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding is low: 15.5%
  • −Company has a low return on equity of 5.42% over last 3 years.
  • −Earnings include an other income of Rs.2.82 Cr.
  • −Debtor days have increased from 90.6 to 110 days.

Shareholding Pattern

Promoters15.52%
FIIs1.65%
DIIs0%
Public82.83%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters15.87%15.67%▼0.215.61%▼0.115.6%▼0.015.6%15.56%▼0.015.56%15.52%▼0.0
FIIs0%0.37%▲0.41.22%▲0.81.19%▼0.01.92%▲0.71.92%1.66%▼0.31.65%▼0.0
DIIs0%0%0%0%0%0%0%0%
Public84.13%83.96%▼0.283.17%▼0.883.2%▲0.082.47%▼0.782.52%▲0.082.78%▲0.382.83%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales24.0617.7440.0926.526.328.3120.726.932426.04
Expenses21.5716.5138.9524.4725.0127.6520.6526.4924.6324.99
Operating Profit2.491.231.142.031.290.660.050.44-0.631.05
OPM %10.35%6.93%2.84%7.66%4.9%2.33%0.24%1.63%-2.62%4.03%
Net Profit2.431.161.161.550.910.460.10.271.170.81
EPS ₹0.050.020.020.030.020.01000.020.01

AI Insights

Revenue Trend

TTM revenue at ₹97.67Cr, down 4.1% YoY. OPM at 0.93%.

Debt Position

Borrowings at ₹1.01Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹3.61Cr (144% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 1.65% (+1.65pp change). Promoters hold 15.52%.

Margin & Efficiency

ROCE declining from 15.72% (Mar 2014) to 3.4% (Mar 2025). Working capital days: 116.73.

Valuation

PE 88.4x with 3.4% ROCE. Price is 45% above book value of ₹2.52. Dividend yield: 0%.

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