SPICE ISLANDS APPARELS LTD.-$ (SPICEISL) fair value: what the stock is really worth
We calculate from audited financials what SPICE ISLANDS APPARELS LTD.-$ 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 ₹179M (≈ $1.9M) · ISIN INE882D01017
At a glance
SISPICE ISLANDS APPARELS LTD.-$SPICEISL · BSE
Price₹479.45
Fair Value₹170.58
Upside−64.4%
Quality66/100
A solid business, but trading 181% above our fair value of ₹170.58.
As of Aug 21, 2026, the fair value of SPICE ISLANDS APPARELS LTD.-$ is ₹170.58 per share against a price of ₹479.45, so the fair value sits 64% below the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y −44.1 %/yr)
!Thin margins · 0.0% net margin
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (3/9)
!Narrow moat 40/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 1 out of 100
Evidence: LowRange ₹127.94 to ₹213.23
Fair value as of: Aug 21, 2026
From 6 valuation models · updated 21 days ago
Fair value updated Aug 21, 2026, revised from ₹174.30 to ₹170.58 (−2.1%) since Aug 13, 2026. Share price −80.9% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price sits above even our optimistic bull case (₹213.23). The favourable scenario is already priced in.
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 but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ₹13.21 – ₹2,724 · fair‑value band ₹127.94 – ₹213.23 · the ₹479.45 price screens above the ₹170.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
SPICE ISLANDS APPARELS LTD.-$ (SPICEISL) currently trades at ₹479.45, while our model-based Fair Value estimate is ₹170.58, implying the stock looks roughly 181.1% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Discretionary sector. How firm this estimate is: it rests on 6 models at a data quality of 91/100, which puts the evidence level at low.
Net debt stands at ₹5.1M. Fundamentals as of Aug 21, 2026
Scenario range: ₹127.94 (bear) to ₹213.23 (bull), the price of ₹479.45 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 13% below its 52-week high. For context, the median of 10 Consumer Discretionary peers we cover trades at −22% fair-value upside, at −64%, SPICEISL screens richer than that median.
Fair Value models
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 →
Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹0.3200 to ₹36.51). Read the values as a conservative anchor, not as a price target.
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
Highest evidence
Gordon GGM best evidence₹0.3000₹0.3200₹0.350067
Graham-Dodd₹11.29₹13.79₹15.5265
DDM Multi-Stage₹0.3000₹0.3400₹0.400065
All 6 models by family
Earnings-Based
Graham-Dodd₹11.29₹13.79₹15.5265
Dividend Discount
Gordon GGM best evidence₹0.3000₹0.3200₹0.350067
DDM Multi-Stage₹0.3000₹0.3400₹0.400065
Multiples
P/E Multiple₹27.39₹36.51₹45.6463
P/S Multiple₹4.21₹5.61₹7.0258
Growth Earnings
Growth-Adj P/E₹19.30₹27.58₹35.8565
Widest divergence: Growth Earnings (₹27.58) versus Dividend Discount (₹0.3200). Highest evidence: Gordon GGM (67).
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Key figures & financial health
Dividend yield0.0%
Net margin35.5%FY2024
Return on assets (EBIT)−24.2%avg 5y
Free cash flow−₹12.2MFY2024
Net debt₹5.1MFY2024
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality66/100
Of which business quality 62
· Market factors (momentum, volatility) 24
Profitability87
Margins and returns on capital today
Quality Growth86
Are margins and returns improving?
Cashflow33
Earnings quality: real cash, not paper profit
Fin. Strength15
Balance sheet, leverage, solvency risk
Investment100
Disciplined investing over empire-building
Low Volatility0
Calm price path (market factor)
Momentum33
Price trend over the last 3–12 months (market factor)
52W Momentum35
Distance to the 52-week high (market factor)
Net Issuance82
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.
Revenue & earnings trend
FY2020 – FY2024 · reported fiscal years
SPICE ISLANDS APPARELS LTD.-$ reported revenue of ₹9.0M in FY2024 versus ₹150M in FY2020, a compound −50.6%/yr. Reported net income was ₹3.2M in FY2024.
Growth Quality 12/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
₹9.0M
Latest YoY
+4.6%
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.
−48.2%
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.
−44.1%
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.
−24.1% (2019) → −5.5% (2024)
Value creation/yr ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
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.)
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
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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 Aug 21, 2026).
Is SPICE ISLANDS APPARELS LTD.-$ (SPICEISL) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹170.58 versus a price of ₹479.45, about −64% upside (overvalued).
What is the fair value of SPICEISL?
Our model-based fair value for SPICE ISLANDS APPARELS LTD.-$ is ₹170.58 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹479.45.
What is the quality score of SPICEISL?
SPICE ISLANDS APPARELS LTD.-$ has a Quality Score of 66/100. 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 LTD.-$ (SPICEISL)?
Our model-based price target is the fair value of ₹170.58 (as of Aug 21, 2026) from 6 valuation models. Cautious scenario ₹127.94, optimistic scenario ₹213.23. It is a calculation from audited fundamentals, not an analyst target.
What is the SPICE ISLANDS APPARELS LTD.-$ stock forecast for 2026?
Our models put fair value at ₹170.58, about −64% upside versus a price of ₹479.45 (overvalued). Cautious scenario ₹127.94, optimistic scenario ₹213.23. The calculation is refreshed regularly with new filings.
What is the net profit margin of SPICEISL?
The net profit margin of SPICE ISLANDS APPARELS LTD.-$ is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does SPICE ISLANDS APPARELS LTD.-$ pay a dividend?
SPICE ISLANDS APPARELS LTD.-$ currently shows a dividend yield of about 0.05% relative to its recent price (as of Aug 21, 2026).
What is the intrinsic value of SPICE ISLANDS APPARELS LTD.-$ (SPICEISL)?
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 LTD.-$ it is ₹170.58 per share (as of Aug 21, 2026), against a price of ₹479.45. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is SPICE ISLANDS APPARELS LTD.-$ stock overvalued or undervalued in 2026?
As of Aug 21, 2026, SPICEISL trades above its calculated fair value: price ₹479.45, fair value ₹170.58, a gap of about −64% (overvalued). 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 SPICEISL?
No. The price is what the market pays today (₹479.45); the fair value is what the company's own numbers justify (₹170.58). For SPICE ISLANDS APPARELS LTD.-$ the two are ₹308.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is SPICE ISLANDS APPARELS LTD.-$ worth?
The market values SPICE ISLANDS APPARELS LTD.-$ at about ₹179M (market capitalisation, as of Aug 21, 2026). Per share that is ₹479.45; our models calculate a fair value of ₹170.58 per share.
What do the bullish and bearish scenarios say about SPICEISL?
Our models span a range for SPICE ISLANDS APPARELS LTD.-$: cautious scenario ₹127.94, base ₹170.58, optimistic ₹213.23 per share (as of Aug 21, 2026, price ₹479.45). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is SPICEISL from its 52-week high?
SPICE ISLANDS APPARELS LTD.-$ trades at ₹479.45, about 13% below its 52-week high of ₹549.00 and 1,027% above the low of ₹42.56 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of ₹170.58 is for.
Which stocks are comparable to SPICE ISLANDS APPARELS LTD.-$?
From the same area (Consumer Discretionary) we also value ACTIVE, GARMNTMNTR, SPENTA, LWSKNIT, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SPICE ISLANDS APPARELS LTD.-$ stock attractive at the current price?
The data as of Aug 21, 2026: price ₹479.45, calculated fair value ₹170.58 (−64%), Quality Score 66/100, from 6 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 SPICEISL calculated?
We run SPICE ISLANDS APPARELS LTD.-$ through 6 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 ₹170.58, 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 LTD.-$ itself currently trades above fair value. 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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