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Swing Capital

Spectrum Electrical Industries Ltd

NSE: SPECTRUM BSE: 544386Auto

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]

₹1,396
52W: ₹958 — ₹1900
PE 59.9 · Book ₹137 · +919% vs book
Market Cap₹2,194 Cr
Stock P/E59.9Price to Earnings
ROCE15.7%Return on Capital
ROE13.7%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 39.0% CAGR over last 5 years
  • +Company's working capital requirements have reduced from 21.8 days to 12.3 days

Weaknesses

  • −Stock is trading at 10.1 times its book value
  • −Company has a low return on equity of 13.2% over last 3 years.
  • −Debtor days have increased from 88.2 to 106 days.

Shareholding Pattern

Promoters72.72%
FIIs4.94%
DIIs0.34%
Public22.01%
CategorySep 2023Mar 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.88%72.53%▼2.372.53%72.54%▲0.072.54%72.72%▲0.272.72%72.72%
FIIs0.56%2.51%▲1.92.69%▲0.23.67%▲1.04.11%▲0.44.33%▲0.24.66%▲0.34.94%▲0.3
DIIs0%0.31%▲0.30.33%▲0.00.34%▲0.00.34%0.34%0.34%0.34%
Public24.56%24.64%▲0.124.45%▼0.223.44%▼1.023.01%▼0.422.61%▼0.422.28%▼0.322.01%▼0.3

Financial Statements

MetricMar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales126.3373.0482.0969.86172.0984.55116.06119.7
Expenses113.2863.4673.9959.86147.4472.95101.3101.44
Operating Profit13.059.588.11024.6511.614.7618.26
OPM %10.33%13.12%9.87%14.31%14.32%13.72%12.72%15.25%
Net Profit5.932.234.363.3413.416.097.939.2
EPS ₹3.81.432.792.148.593.95.055.85

AI Insights

Revenue Trend

TTM revenue at ₹492Cr, up 23.9% YoY. OPM at 14%.

Debt Position

Borrowings at ₹164Cr. Debt-to-equity ratio: 0.82x. Moderate leverage.

Capex Cycle

CWIP at ₹34Cr (27% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.34% (+0.34pp change). FIIs: 4.94% (+4.94pp change). Promoters hold 72.72%.

Margin & Efficiency

ROCE improving from 0% (Mar 2012) to 16% (Mar 2025). Working capital days: 12.

Valuation

PE 59.9x with 15.7% ROCE. Price is 919% above book value of ₹137. Dividend yield: 0%.

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