Spel Semiconductor Share Price & Earnings Call Analysis
- Market cap
- ₹446 Cr
- ROE
- -64.50%
- Price to sales
- 100.86
- Debt to equity
- 6.84
- 52W high / low
- ₹194 / ₹96.7
- Sales growth (5Y)
- -16.98%
- EBITDA margin
- -30.77%
- Net profit margin
- -82.01%
- Promoter holding
- 59.18%
- Sales (last year)
- ₹4 Cr
Incorporated in 1984, SPEL Semiconductor Ltd is in the business of wafer sort, assembly, test and drop-shipment services of IC chips[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹66,283 Cr | 16.5 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 11.6 | |
| 3 | 40%+ | Up 0–2% | ₹12,066 Cr | 47.0 | |
| 4 | 40%+ | Up 0–2% | ₹500 Cr | 6.7 | |
| 5 | 40%+ | Flat | ₹20,621 Cr | 111.2 | |
| 6 | 40%+ | Flat | ₹15,855 Cr | 11.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Spel Semiconduct
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Spel Semiconduct
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4.14 | 5.13 | 2.21 | 2.28 | 2.38 | 2.13 | 1.39 | 1.89 | 2.45 | 1.93 | 1.53 | 0.63 | 2.18 |
| Expenses + | 1.68 | 5.25 | 3.35 | 3.21 | 2.78 | 3.02 | 2.74 | 2.58 | 5.20 | 2.48 | 2.17 | 2.26 | 0.43 |
| Operating Profit | 2.46 | -0.12 | -1.14 | -0.93 | -0.40 | -0.89 | -1.35 | -0.69 | -2.75 | -0.55 | -0.64 | -1.63 | 1.75 |
| OPM % | 59.42% | -2.34% | -51.58% | -40.79% | -16.81% | -41.78% | -97.12% | -36.51% | -112.24% | -28.50% | -41.83% | -258.73% | 80.28% |
| Other Income + | 2.63 | -2.55 | -1.43 | -2.07 | -2.29 | -1.32 | -1.88 | -2.86 | -4.85 | -2.74 | -10.87 | -4.04 | 1.08 |
| Interest | 1.04 | 0.67 | 0.54 | 0.68 | 0.68 | 0.71 | 0.76 | 0.63 | 0.79 | 2.00 | 0.67 | 0.60 | 1.78 |
| Depreciation | 0.74 | 0.71 | 0.71 | 0.73 | 0.73 | 0.67 | 0.67 | 0.67 | -0.02 | 0.29 | 0.29 | 0.29 | 0.28 |
| Profit before tax | 3.31 | -4.05 | -3.82 | -4.41 | -4.10 | -3.59 | -4.66 | -4.85 | -8.37 | -5.58 | -12.47 | -6.56 | 0.77 |
| Tax % | -14.20% | -0.49% | -2.36% | -3.17% | 16.34% | -0.28% | -0.43% | -0.62% | -4.54% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit + | 3.77 | -4.04 | -3.73 | -4.26 | -4.76 | -3.58 | -4.65 | -4.82 | -8.00 | -5.59 | -12.47 | -6.56 | 0.77 |
| EPS in Rs | 0.82 | -0.88 | -0.81 | -0.92 | -1.03 | -0.78 | -1.01 | -1.05 | -1.73 | -1.21 | -2.70 | -1.42 | 0.17 |
Financials of Spel Semiconduct
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 47 | 26 | 36 | 42 | 26 | 37 | 16 | 9 | 11 | 12 | 8 | 6 |
| Expenses + | 35 | 35 | 38 | 44 | 34 | 31 | 22 | 12 | 7 | 14 | 13 | 7 |
| Operating Profit | 12 | -10 | -2 | -3 | -8 | 6 | -6 | -2 | 4 | -2 | -5 | -1 |
| OPM % | 26% | -37% | -6% | -7% | -30% | 16% | -35% | -24% | 35% | -16% | -68% | -17% |
| Other Income + | 1 | -0 | -21 | 4 | 5 | 2 | 3 | -4 | -2 | -9 | -11 | -17 |
| Interest | 4 | 3 | 2 | 3 | 3 | 1 | 1 | 1 | 3 | 3 | 3 | 5 |
| Depreciation | 10 | 11 | 7 | 6 | 5 | 5 | 4 | 5 | 4 | 3 | 2 | 1 |
| Profit before tax | -0 | -24 | -32 | -8 | -11 | 1 | -8 | -12 | -5 | -16 | -22 | -24 |
| Tax % | -27% | -16% | -5% | 2% | -2% | 21% | 2% | 2% | -32% | 3% | -2% | 0% |
| Net Profit + | -0 | -20 | -31 | -8 | -11 | 1 | -9 | -13 | -3 | -17 | -21 | -24 |
| EPS in Rs | -0.08 | -4.29 | -6.64 | -1.84 | -2.33 | 0.23 | -1.87 | -2.77 | -0.67 | -3.64 | -4.56 | -5.17 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Spel Semiconduct
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | 41 | 21 | 49 | 41 | 31 | 33 | 26 | 7 | 3 | -13 | -33 | -43 |
| Borrowings + | 27 | 16 | 28 | 25 | 22 | 28 | 30 | 31 | 25 | 28 | 31 | 21 |
| Other Liabilities + | 30 | 47 | 51 | 58 | 64 | 75 | 64 | 88 | 89 | 85 | 84 | 91 |
| Total Liabilities | 144 | 130 | 175 | 170 | 163 | 182 | 166 | 172 | 164 | 146 | 128 | 115 |
| Fixed Assets + | 98 | 87 | 133 | 126 | 122 | 117 | 113 | 87 | 78 | 75 | 72 | 74 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 46 | 43 | 42 | 44 | 41 | 65 | 54 | 85 | 86 | 71 | 56 | 41 |
| Total Assets | 144 | 130 | 175 | 170 | 163 | 182 | 166 | 172 | 164 | 146 | 128 | 115 |
Financials of Spel Semiconduct
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 6 | -7 | -29 | -6 | 4 | -7 | -2 | -22 | -3 | -9 | -2 | 13 |
| Cash from Investing Activity + | 0 | 1 | 26 | 7 | 1 | 1 | 1 | 21 | 12 | 9 | 1 | 2 |
| Cash from Financing Activity + | -6 | 6 | 8 | -6 | -5 | 5 | 1 | 1 | -8 | 0 | 0 | -15 |
| Net Cash Flow | -0 | -0 | 6 | -6 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 6 | -7 | -29 | -6 | 4 | -7 | -2 | -2 | 7 | -1 | -2 | 13 |
| CFO/OP | 48% | 73% | 1,356% | 227% | -51% | -112% | 42% | 972% | -78% | 453% | 31% | -1,212% |
Financials of Spel Semiconduct
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 54 | 159 | 18 | 60 | 319 | 926 | 41 | 61 | 36 | 36 | 34 |
| Inventory Days | 2,094 | 1,178 | 2,838 | 2,947 | 716 | |||||||
| Days Payable | 558 | 346 | 343 | 449 | 790 | |||||||
| Cash Conversion Cycle | 1,580 | 886 | 159 | 18 | 60 | 319 | 926 | 41 | 61 | 2,531 | 2,534 | -41 |
| Working Capital Days | 39 | -214 | -34 | 11 | -63 | 52 | 92 | 632 | 465 | 31 | -784 | -2,053 |
| ROCE % | 3% | -20% | -6% | -6% | -8% | 3% | -4% | -6% | 9% | -5% | -11% | 0% |
Momentum score · price trend
3 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −44.6% | 6% |
| Last 6 months | −25.0% | 8% |
| Last 3 months | −28.3% | 3% |
The price is 55% below its all-time high of ₹250.3 (8 Sept 2025). Stocks more than 20% below their peak have their score halved, so 6 became 3.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Spel Semiconduct: 0.4 × 6 + 0.4 × 8 + 0.2 × 3 = 6, halved to 3 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 12 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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