S. P. Apparels Limited (SPAL) Fair Value & Analysis
Consumer Cyclical · IN · Market cap ₹27.8B
Strengths
Risks
Fair value as of: Aug 19, 2026
From 26 valuation models · updated 2 days ago
Share price −4.3% over the past month.
A solid business, but screening 15% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹426.14 to ₹1,104) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range ₹164.32 – ₹1,179 · fair‑value band ₹426.14 – ₹1,104 · the ₹930.45 price screens above the ₹791.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
S. P. Apparels Limited (SPAL) currently trades at ₹930.45, while our model-based Fair Value estimate is ₹791.49, implying the stock looks roughly 14.9% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, S. P. Apparels Limited generated revenue of ₹15.8B at a net margin of 6.4%. Revenue declined 8.6% year over year. It earns a return on equity of 11.3%. Net debt stands at ₹3.6B. Fundamentals as of Aug 19, 2026
Our scenario range runs from ₹426.14 (bear case) to ₹1,104 (bull case); at ₹930.45, the current price sits within 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 21% below its 52-week high and 55% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at -15%, SPAL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 26 models by family
Widest divergence: DCF Models (₹892.63) versus Dividend Discount (₹32.16). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 67
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.
About the company
S.P. Apparels Limited, together with its subsidiaries, manufactures and exports knitted garments for infants and children in India and internationally. The company offers yarns, fabrics, and cotton waste products under the Angel & Rocket brand, as well as dyeing, embroidery, and printing services.
Full company description
S.P. Apparels Limited, together with its subsidiaries, manufactures and exports knitted garments for infants and children in India and internationally. The company offers yarns, fabrics, and cotton waste products under the Angel & Rocket brand, as well as dyeing, embroidery, and printing services. It also engages in the manufacture, distribution, marketing, and retail sale of menswear garments under the Crocodile brand name. The company was founded in 1988 and is headquartered in Tirupur, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
S. P. Apparels Limited reported revenue of ₹15.8B in FY2026 versus ₹8.2B in FY2022, a compound +17.7%/yr. Reported net income was ₹1.0B in FY2026, compounding +4.5%/yr from FY2022.
of which total revenue +10.4 pp · buybacks/dilution −2.9 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
SPAL screens 15% overvalued. Compare with H & M Hennes & Mauritz AB →
Peer Group
Apparel Manufacturing · 215 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Apparel Manufacturing median · lower = cheaper
Snowflake
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| H & M Hennes & Mauritz AB HMB | kr 174.25 | kr 165.47 | -5% |
| LPP SA LPP | 22,220 PLN | 17,754 PLN | -20% |
| Bosideng International Holdings 3998 | HK$4.65 | HK$5.92 | +27% |
| Youngor Fashion Co 600177 | ¥7.91 | ¥5.59 | -29% |
| Page Industries Limited PAGEIND | ₹38,295 | ₹12,395 | -68% |
| Hla Group 600398 | ¥6.07 | ¥9.92 | +63% |
| Youngone Corporation 111770 | 85,200 KRW | 188,736 KRW | +122% |
| F&F Co 383220 | 68,800 KRW | 179,500 KRW | +161% |
| Youngone Holdings 009970 | 188,300 KRW | 697,038 KRW | +270% |
| Wiselink Co 8932 | 105.00 TWD | 37.95 TWD | -64% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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