Spectrum Talent Management Q2 FY25 Share Price & Earnings Call Analysis
- Market cap
- ₹129 Cr
- P/E
- 10.53
- ROE
- 7.41%
- PEG
- -0.45
- Price to sales
- 0.09
- Debt to equity
- 0.18
- 52W high / low
- ₹104 / ₹51.5
- Sales growth (5Y)
- 36.83%
- EBITDA margin
- 0.97%
- Net profit margin
- 0.85%
- Promoter holding
- 74.52%
- Sales (last year)
- ₹1,450 Cr
Guidance scorecard · Q2 FY25 call
What Spectrum Talent's management guided
RevenueQ2 FY25 call
20–40%- The company aims for a 30% CAGR growth in revenue over the next three years.
- Growth will be driven by multiple specialized business units including staffing, apprenticeship, recruitment services, and IT staffing, each targeting 30% growth.
- Management emphasizes scaling the business to achieve cost efficiencies and attract larger customers.
- Expansion across India and the U.S. markets is planned, with no current intent to enter new geographies unless large opportunities arise.
- Margin expansion is expected but timing is uncertain due to ongoing investments and market conditions.
2 more points from Spectrum Talent's call on revenue
Create a free account to keep reading this call
MarginsQ2 FY25 call
Up 0–2%See what Spectrum Talent said on margins — free account, 30 seconds.
CapexQ2 FY25 call
Planned- The company plans to deploy around ₹80-90 crores in acquisitions over the next 12 months, focusing on high-margin businesses like specialized staffing, IT staffing, and managed services.
- No capital is being withdrawn from the U.S. business for acquisitions, but the electronics goods business will be scaled down to free up capital.
- Capital deployment in the electronics business is cyclical, with ₹20-22 crores per month in H1 expected to increase to ₹40-45 crores in H2.
- Investments are primarily in employee hiring, training, sales, and technology development, such as building an application planned for rollout in March 2025.
2 more points from Spectrum Talent's call on capex
Create a free account to keep reading this call
FundraisingQ2 FY25 call
See what Spectrum Talent said on fundraising — free account, 30 seconds.
Order bookQ2 FY25 call
- It is indicated that trade receivables increased significantly due to clients asking to invoice at the end of months (September and March) with payments received later.
- The company had to procure and ship a large quantity of electronic goods in the last week of September due to client discounts, leading to higher trade receivables.
- There is a focus on growing manpower services and acquisitions to scale the business, suggesting ongoing and expected orders.
- The company aims to maintain a 30%+ growth rate, which implies a positive outlook on order flow and revenue growth.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Financials of Spectrum Talent
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Spectrum Talent
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2026 | |
|---|---|
| Sales + | 742.36 |
| Expenses + | 733.98 |
| Operating Profit | 8.38 |
| OPM % | 1.13% |
| Other Income + | 2.11 |
| Interest | 1.96 |
| Depreciation | 1.56 |
| Profit before tax | 6.97 |
| Tax % | -21.81% |
| Net Profit + | 8.48 |
| EPS in Rs | 3.67 |
Financials of Spectrum Talent
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 323 | 302 | 483 | 768 | 1,016 | 1,270 | 1,450 |
| Expenses + | 314 | 297 | 467 | 744 | 1,007 | 1,262 | 1,436 |
| Operating Profit | 9 | 5 | 16 | 24 | 9 | 8 | 14 |
| OPM % | 3% | 2% | 3% | 3% | 1% | 1% | 1% |
| Other Income + | 0 | 1 | 0 | 1 | 2 | 3 | 4 |
| Interest | 0 | 0 | 0 | 1 | 0 | 1 | 3 |
| Depreciation | 1 | 1 | 1 | 2 | 1 | 2 | 3 |
| Profit before tax | 8 | 5 | 15 | 22 | 10 | 8 | 12 |
| Tax % | 19% | -5% | -0% | -25% | -16% | 11% | -6% |
| Net Profit + | 7 | 5 | 15 | 28 | 12 | 7 | 12 |
| EPS in Rs | 14.23 | 10.02 | 40.13 | 15.54 | 5.02 | 3.14 | 5.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Spectrum Talent
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 4 | 18 | 23 | 23 | 23 |
| Reserves | 10 | 10 | 19 | 38 | 124 | 136 | 149 |
| Borrowings + | 4 | 5 | 15 | 4 | 1 | 35 | 30 |
| Other Liabilities + | 22 | 26 | 26 | 37 | 53 | 55 | 78 |
| Total Liabilities | 41 | 46 | 64 | 96 | 200 | 249 | 281 |
| Fixed Assets + | 2 | 2 | 3 | 3 | 7 | 8 | 49 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Investments | 0 | 5 | 1 | 0 | 0 | 0 | 0 |
| Other Assets + | 38 | 40 | 61 | 93 | 194 | 241 | 231 |
| Total Assets | 41 | 46 | 64 | 96 | 200 | 249 | 281 |
Financials of Spectrum Talent
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 6 | 5 | -7 | 9 | -5 | -67 | |
| Cash from Investing Activity + | 0 | -5 | 2 | -1 | -5 | -8 | |
| Cash from Financing Activity + | -3 | -4 | 3 | -7 | 76 | 39 | |
| Net Cash Flow | 3 | -3 | -2 | 1 | 66 | -36 | |
| Free Cash Flow | 4 | 5 | -9 | 7 | -10 | -72 | |
| CFO/OP | 28% | 118% | -30% | 39% | -77% | -813% |
Financials of Spectrum Talent
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 30 | 31 | 29 | 28 | 34 | 31 |
| Inventory Days | 7 | 7 | 2 | 5 | 3 | ||
| Days Payable | 6 | 3 | 2 | 1 | 2 | ||
| Cash Conversion Cycle | 23 | 30 | 33 | 32 | 28 | 38 | 32 |
| Working Capital Days | 2 | 6 | 14 | 19 | 22 | 31 | 19 |
| ROCE % | 22% | 52% | 47% | 10% | 5% | 8% |
Guidance history
How Spectrum Talent's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY25 call → | 20–40% | Up 0–2% | Planned | — | — |
| Q4 FY24 call → | 20–40% | Flat | None planned | — | Rising |
| Q1 FY24 call → | 20–40% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.