SPEL SEMICONDUCTOR LTD. (SPELS) Fair Value & Analysis
Technology · IN · Market cap ₹7.3B
Strengths
Risks
Fair value as of: Aug 20, 2026
From 6 valuation models · updated yesterday
Fair value updated Aug 20, 2026, revised from ₹217.42 to ₹218.26 (+0.4%) since Aug 13, 2026.
A solid business, screening 45% undervalued on our models.
What matters now
- The model range is unusually wide (₹43.65 to ₹414.51). 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 (59/100) 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 20, 2026.
How to read this chart
60‑month range ₹10.92 – ₹260.90 · fair‑value band ₹43.65 – ₹414.51 · the ₹150.35 price screens below the ₹218.26 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
SPEL SEMICONDUCTOR LTD. (SPELS) currently trades at ₹150.35, while our model-based Fair Value estimate is ₹218.26, implying the stock looks roughly 45.2% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Trailing-twelve-month revenue stands at ₹62.8M. Revenue declined 10.9% year over year. Net debt stands at ₹209M. Fundamentals as of Aug 20, 2026
Our scenario range runs from ₹43.65 (bear case) to ₹414.51 (bull case); at ₹150.35, 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 43% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at 45%, SPELS screens cheaper 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 6 models by family
Widest divergence: Growth DCF (₹1,646) versus Asset-Based (₹21.53). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 42
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
SPEL Semiconductor Limited provides contract manufacturing services for semiconductor companies in India. The company offers turnkey solutions, including wafer sort, assembly, test, and drop-shipment services; and value-added services, such as package design, failure analysis and full reliability test, test program development, and product characterization.
Full company description
SPEL Semiconductor Limited provides contract manufacturing services for semiconductor companies in India. The company offers turnkey solutions, including wafer sort, assembly, test, and drop-shipment services; and value-added services, such as package design, failure analysis and full reliability test, test program development, and product characterization. It also provides packaging solutions for semiconductors used in various applications, such as communications, consumer electronics, computing, industrials, and automotive. The company offers its products to integrated device manufacturers and fabless companies in the United States, Asia, and Europe. SPEL Semiconductor Limited was incorporated in 1984 and is based in Chennai, India. SPEL Semiconductor Limited operates as a subsidiary of Natronix Semiconductor Technology Private Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
SPEL SEMICONDUCTOR LTD. reported revenue of ₹62.8M in FY2026 versus ₹94.9M in FY2022, a compound −9.8%/yr. Reported net income was −₹238M in FY2026.
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Peer Group
Semiconductors · 326 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 Semiconductors 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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $225.01 | $98.98 | -56% |
| Taiwan Semiconductor Manufacturing Company TSM | $429.15 | $291.42 | -32% |
| Broadcom Inc 1AVGO | €366.85 | €121.25 | -67% |
| Micron Technology, Inc ZMIC | C$43.68 | C$6.23 | -86% |
| SK hynix Inc 000660 | 1,504,000 KRW | 1,481,291 KRW | -2% |
| Advanced Micro Devices, Inc 1AMD | €428.20 | €56.33 | -87% |
| Intel Corporation INTC | C$54.50 | C$16.95 | -69% |
| MediaTek Inc 2454 | 3,845 TWD | 1,559 TWD | -59% |
| SK Square Co 402340 | 1,024,000 KRW | 1,204,862 KRW | +18% |
| Semiconductor Manufacturing International Corporation 0981 | HK$73.00 | HK$13.18 | -82% |
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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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