SPL Industries Limited (532651) Fair Value & Analysis

Consumer Goods · IN · Market cap ₹851M (≈ $9.0M) · ISIN INE978G01016

What is SPL Industries Limited really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

• The price is below even our cautious bear case (₹41.77). The market is more pessimistic than our downside scenario.
• 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 (65/100) 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 Aug 18, 2026.

How to read this chart

60‑month range ₹21.39 – ₹83.95 · fair‑value band ₹41.77 – ₹53.51 · the ₹30.21 price screens below the ₹47.75 fair value. Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

SPL Industries Limited (532651) currently trades at ₹30.21, while our model-based Fair Value estimate is ₹47.75, implying the stock looks roughly 36.7% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Consumer Goods sector. Bull case: the Growth Earnings group reads highest at a median of ₹56.10 per share, and 16 of the 22 models we run sit above the ₹30.21 price. Bear case: the Earnings-Based group reads lowest at ₹10.75, and 6 of the 22 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, SPL Industries Limited generated revenue of ₹1.5B at a net margin of 18.1%. Revenue declined 51.3% year over year. The stock trades on a trailing P/E of 2.9 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹41.77 (bear case) to ₹53.51 (bull case); at ₹30.21, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Goods peers we cover trades at −63% fair-value upside, at 58%, 532651 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly ₹9.65 per share, which is 20.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Widest divergence: Growth Earnings (₹56.10) versus Earnings-Based (₹10.75). Highest evidence: FCF DCF (81).

Key figures & financial health

Quality Score breakdown

About the company

SPL Industries Limited designs, manufactures, and sells cotton knitted garments and made ups in India. The company operates through two segments, Manufacturing and Trading.

Full company description

SPL Industries Limited designs, manufactures, and sells cotton knitted garments and made ups in India. The company operates through two segments, Manufacturing and Trading. It offers single jersey, jacquard, interlocks, flat backs, auto stripes fleece, double jersey jacquard, and waffles and various texture fabrics; and range of outer wear, such as T shirts, sweat shirts, polo shirts, etc. The company also trades in garments; and exports its products. The company was formerly known as Shivalik Prints Private Limited and changed its name to SPL Industries Limited in 1994. SPL Industries Limited was incorporated in 1991 and is based in Faridabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SPL Industries Limited reported revenue of ₹1.4B in FY2025 versus ₹1.1B in FY2021, a compound +6.1%/yr. Reported net income was ₹97.9M in FY2025, compounding −7.8%/yr from FY2021.

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Peer Group

Consumer Discretionary · 3806 stocks

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 “Textile - Apparel Clothing” was too small, so the broader sector is used.)

Valuation Multiples vs Consumer Discretionary median · lower = cheaper

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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