Annual report
Revised Annual Report 22 Sep - Revised FY2025-26 annual report issued with corrected AGM notice date and share capital values.
Source: Bse
S. P. Apparels Limited (SPAL)
Small CapConsumer stocks · Small cap · NSE
S. P. Apparels Limited operates in Retail / E-Commerce, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:48 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -6.0% / mo · MACD − · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 45
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SPALD candles · FIT view+17.8%Latest close ₹920.00 on 2026-10-19
Bar
-2.5%
RSI
41
MACD hist
-0.78
52W pos
51%
2026-10-19O ₹943.35H ₹943.35L ₹916.10C ₹920.00Vol 11,984 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SPALNifty Consumer DurablesNifty 500
- SPAL
- -13.0%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- -7.4 pp
Chart stats
19 Oct 2026- From 52W high
- -24.7%
- 52W range position
- 51%
- ATR (14)
- 3.7%
- Volume vs 20D
- 0.45x
- Avg traded value
- ₹2.5 Cr
- 20D price channel
- ₹905 - ₹999
₹1,221.9
₹600 - ₹1,221.9
₹34
Latest completed session
20-session average
28.0% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST41
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average30
Revenue -0.5% · PAT +19.1% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model+34.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 30/100Rev -1% YoY · PAT +19% YoY · margin expansion · +10% QoQ · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹401 Cr | -0.5% | +9.9% |
| EBITDA | ₹60 Cr | +13.2% | +36.4% |
| Operating margin | 15.0% | +200 bps | +300 bps |
| PAT | ₹25 Cr | +19.1% | +31.6% |
| PAT margin | 6.2% | +102 bps | +102 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 22.40
- P/B
- 2.49
- EV/EBITDA
- 10.29
- Market Cap
- 2358.00Cr
Profitability
- ROE
- 11.20%
- ROCE
- 14.00%
- ROA
- 6.60%
- Dividend Y
- 0.32%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 18.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- 7.00%
Balance Sheet
- Debt/Equity
- 0.44
- Interest Coverage
- 5.00×
- Altman Z
- 4.66
- Book Value
- 376.00
Cash Flow
- FCF Yield
- 0.85%
- FCF Positive Y
- 8/5
- OCF
- 209.00 Cr
- EPS TTM
- 41.83
Shareholding
- Promoter Hold
- 61.81%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 55%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 401+9.9% vs prev
Net Profit
₹ CrLatest: 25.0+31.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 41.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~6.4% over last month) — short-term momentum negative.
- RSI(14) at 41 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 25% off 52W high · 53% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
78
RS percentile
Stage 1 Base / Transition
1M return
-7.5%
3M return
-13.0%
6M return
+14.8%
1Y return
+28.7%
RS 1D
-1
RS 20D
-2
Sector rank
#9
Industry rank
#22
Stage evidence
- Price is within 1.0% of the 30-week proxy.
- The 30-week proxy changed +3.7% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 133.55+0.29%
RS vs Nifty 500134
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation8/30
Growth12/25
Quality4/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
41
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
41/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 34.0%.
- Balance sheet contributes 8/15 to the score.
Main drags
- Quality is weaker at 4/20; verify the latest quarterly trend.
- Valuation is weaker at 8/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
22.4
PB
2.5
EV/EBITDA
10.3
ROE
11.2%
ROCE
14.0%
FCF Yield
0.8%
Debt/Equity
0.4
MoS
+34.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
41
Previous: 41
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+34.0%
Previous: +34.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
41
41
41
41
41
41
41
41
41
41
41
41
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹594.88
-54.7% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹1,392.94
+34.0% MoS
PEG
1.65
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
PENIND
Small
Pennar Industries Limited
Retail
match 109
49
17.0
12.4%
+52%
FAIR VALUE
VINCOFE
Small
Vintage Coffee And Beverages Limited
Retail
match 108
45
34.0
16.6%
+4%
WATCHLIST
RAMCOIND
Small
Ramco Industries Limited
Retail
match 108
55
8.2
6.8%
-1%
FAIR VALUE
UFBL
Small
United Foodbrands Limited
Retail
match 107
22
—
-17.6%
—
OVERVALUED
VIDHIING
Small
Vidhi Specialty Food Ingredients Limited
Retail
match 107
39
33.2
15.6%
-124%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
S. P. Apparels Limited operates in Retail / E-Commerce, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
76Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 81st percentile of the scored universe and 84th percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
143 docs text-extracted · 64 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Consumer: 84th pctile, median 66 · Small: 83rd pctile, median 66
Evidence depth
Financial-only
143 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
68
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 61.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.7%.
- ▸8 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching S. P. Apparels Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Aug - We hereby disclose the Newspaper Publication of AGM Notice to be held on 29.08.2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.