Spice Islands Apparels Limited (526827) fair value: what the stock is really worth
We calculate from audited financials what Spice Islands Apparels Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
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Consumer Discretionary · IN · Market cap ₹189M (≈ $2.0M)
At a glance
SISpice Islands Apparels Limited526827 · BSE
Price₹93.30
Fair Value₹122.15
Upside+30.9%
Quality46/100
Below-average quality, trading 24% below our fair value of ₹122.15.
As of Sep 11, 2026, the fair value of Spice Islands Apparels Limited is ₹122.15 per share against a price of ₹93.30, so the fair value sits 31% above the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +22.6 %/yr)
!Loss over the last twelve months · -13.3% net margin · fiscal year 2026 31.6%
!Low debt · negative free cash flow
!Trails peers (3/11)
!Narrow moat 16/100
!Evidence only low, so the estimate is less certain
!The models disagree: range ₹73.17 to ₹488.60
!Weak on dividend: 1 out of 100
Evidence: LowRange ₹73.17 to ₹488.60
Fair value as of: Sep 11, 2026
From 17 valuation models · updated today
Share price −4.7% over the past month.
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What matters now
The model range is unusually wide (₹73.17 to ₹488.60). The outcome hinges heavily on assumptions, so read the point estimate with caution.
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 11, 2026.
How to read this chart
60‑month range ₹0.5096 – ₹530.00 · fair‑value band ₹73.17 – ₹488.60 · the ₹93.30 price screens below the ₹122.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 11, 2026.
Spice Islands Apparels Limited (526827) currently trades at ₹93.30, while our model-based Fair Value estimate is ₹122.15, implying the stock looks roughly 23.6% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Discretionary sector. Bull case: the Growth Earnings group reads highest at a median of ₹611.80 per share, and 8 of the 17 models we run sit above the ₹93.30 price. Bear case: the Asset-Based group reads lowest at ₹21.85, and 9 of the 17 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Spice Islands Apparels Limited generated revenue of ₹141M at a net margin of −13.3%. Revenue declined 86.0% year over year. Net debt stands at ₹10.0M. The stock trades on a trailing P/E of 39.6 (as of Jul 4, 2026). Fundamentals as of Sep 11, 2026
Scenario range: ₹73.17 (bear) to ₹488.60 (bull), the price of ₹93.30 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. For context, the median of 10 Consumer Discretionary peers we cover trades at −27% fair-value upside, at 31%, 526827 screens cheaper than that median.
Fair Value models
Based on fiscal year 2026 figures (about 5 months old). Earnings retained since then (₹0.4987 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence
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Key figures & financial health
P/E ratio39.6as of Jul 4, 2026
P/S ratio12.5P/E × margin
EPS (TTM)₹1.11price ÷ EPS = P/E 39.6
Dividend yield0.0%payout 3.6%
Net margin31.6%FY2026
Return on assets (EBIT)−10.1%avg 5y
More key figures
Profitability
Operating margin−16.2%TTM
Growth
Revenue (TTM)₹141MTTM
Revenue growth (YoY)−86.0%3y avg +175%
Balance sheet & cash flow
Free cash flow−₹12.8MFY2026
Net debt₹10.0MFY2025
Figures from reported company fundamentals · as of Sep 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality46/100
Of which business quality 55
· Market factors (momentum, volatility) 66
Profitability94
Margins and returns on capital today
Quality Growth100
Are margins and returns improving?
Cashflow16
Earnings quality: real cash, not paper profit
Fin. Strength90
Balance sheet, leverage, solvency risk
Investment0
Disciplined investing over empire-building
Low Volatility50
Calm price path (market factor)
Momentum83
Price trend over the last 3–12 months (market factor)
52W Momentum55
Distance to the 52-week high (market factor)
Net Issuance0
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Spice Islands Apparels Limited manufactures and sells woven and knitted garments in India, the United Kingdom, the United Arab Emirates, and internationally.
Full company description
Spice Islands Apparels Limited manufactures and sells woven and knitted garments in India, the United Kingdom, the United Arab Emirates, and internationally. The company offers men's shirts, ladies blouses/tops/skirts, hand embroidered tops, basic men's/ladies/girls/children's T-shirts, fashion T-shirts, polo shirts, sweatshirts, jerseys, piques, jacquards, and yarn dyed stripes in various fabrics. It is also involved in financial activities. Spice Islands Apparels Limited was founded in 1988 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Spice Islands Apparels Limited reported revenue of ₹179M in FY2026 versus ₹26.3M in FY2022, a compound +61.6%/yr. Reported net income was ₹56.6M in FY2026.
Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹179M
Latest YoY
+2,197.5%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+175.2%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+22.6%
Avg. revenue growth/yr (12Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.5%
EBIT margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−29.6% (2021) → 13.4% (2026)
Value creation/yr ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Apparel” was too small, so the broader sector is used.)
Valuation
Quality Score46 · Below median
Fair Value upside−64% · Bottom 25%
Profitability
Return on assets0% · Below median
Net margin (TTM)−13% · Bottom 25%
Operating margin (TTM)−16% · Bottom 25%
Growth and dividend
Revenue growth−86% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiples vs Consumer Discretionary median · lower = cheaper
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE75· sector 22
FUTURE0· sector 14
PAST0· sector 21
HEALTH100· sector 96
DIVIDEND1· sector 45
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Apparel stocks, each showing price versus our Fair Value estimate (as of Sep 11, 2026).
Is Spice Islands Apparels Limited (526827) overvalued or undervalued?
As of Sep 11, 2026, our model estimates a fair value of ₹122.15 versus a price of ₹93.30, about +31% upside (undervalued).
What is the fair value of 526827?
Our model-based fair value for Spice Islands Apparels Limited is ₹122.15 (as of Sep 11, 2026), built from audited fundamentals. The current price: ₹93.30.
What is the quality score of 526827?
Spice Islands Apparels Limited has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Spice Islands Apparels Limited (526827)?
Our model-based price target is the fair value of ₹122.15 (as of Sep 11, 2026) from 17 valuation models. Cautious scenario ₹73.17, optimistic scenario ₹488.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Spice Islands Apparels Limited stock forecast for 2026?
Our models put fair value at ₹122.15, about +31% upside versus a price of ₹93.30 (undervalued). Cautious scenario ₹73.17, optimistic scenario ₹488.60. The calculation is refreshed regularly with new filings.
What is the revenue of Spice Islands Apparels Limited (526827)?
Spice Islands Apparels Limited reported trailing-twelve-month revenue of about ₹141M (latest available figure, as of Sep 11, 2026).
What is the net profit margin of 526827?
The net profit margin of Spice Islands Apparels Limited is about −13.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Spice Islands Apparels Limited pay a dividend?
Spice Islands Apparels Limited currently shows a dividend yield of about 0.04% relative to its recent price (as of Sep 11, 2026).
What is the intrinsic value of Spice Islands Apparels Limited (526827)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spice Islands Apparels Limited it is ₹122.15 per share (as of Sep 11, 2026), against a price of ₹93.30. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Spice Islands Apparels Limited stock overvalued or undervalued in 2026?
As of Sep 11, 2026, 526827 trades below its calculated fair value: price ₹93.30, fair value ₹122.15, a gap of about +31% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 526827?
No. The price is what the market pays today (₹93.30); the fair value is what the company's own numbers justify (₹122.15). For Spice Islands Apparels Limited the two are ₹28.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Spice Islands Apparels Limited worth?
The market values Spice Islands Apparels Limited at about ₹189M (market capitalisation, as of Sep 11, 2026). Per share that is ₹93.30; our models calculate a fair value of ₹122.15 per share.
What do the bullish and bearish scenarios say about 526827?
Our models span a range for Spice Islands Apparels Limited: cautious scenario ₹73.17, base ₹122.15, optimistic ₹488.60 per share (as of Sep 11, 2026, price ₹93.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 526827?
Spice Islands Apparels Limited trades at a price-to-earnings ratio of 39.6 (as of Sep 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹122.15 is built from several models across several years. Other multiples: P/S 0.0.
Which stocks are comparable to Spice Islands Apparels Limited?
From the same area (Consumer Discretionary) we also value ACTIVE, GARMNTMNTR, SPENTA, LWSKNIT, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Spice Islands Apparels Limited stock attractive at the current price?
The data as of Sep 11, 2026: price ₹93.30, calculated fair value ₹122.15 (+31%), Quality Score 46/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 526827 calculated?
We run Spice Islands Apparels Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹122.15, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Spice Islands Apparels Limited currently trades 31 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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