As of 6 Nov 2026, Span Divergent is loss-making on a trailing 12-month basis, with a net loss of ₹3.46 Cr, so it has no P/E ratio. The share price is ₹28.45, 45% below its 52-week high. Sales grew 10% a year over 3 years. Debt is 0.73× equity. It is a small-cap company with a market cap of ₹21 Cr, ranked 112th of 127 Packaged Foods companies by market cap; the shares rose 17% over the past year.
- ₹28.64
- ₹28.64
- ₹26.68
- ₹28.08
- 577
Health check
- ReturnsAhead
+16.5% over a year, better than 6 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +10.5% a year over 3 years, but loss-making now.
- ProfitabilityNegative
ROCE -21.5% vs peer median 15.3%.
- Balance sheetStretched
Debt 0.73× equity, operating profit doesn’t cover interest, Piotroski 4 of 9.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹21 Cr
- Small cap
- P/E
- n/a
- Industry 19.5
- Price to book
- 1.39
- Peers 8.88
- Dividend yield
- 0.00%
- ROE
- −41.5%
- Peers 14.8%
- ROCE
- −21.5%
- Peers 15.3%
- Debt to equity
- 0.73
- Debt ₹7.14 Cr
- EPS (TTM)
- −₹5.78
- OPM (TTM)
- −17.8%
- Net margin −20.1%
- Sales growth
- −7.9%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 1.20
- EV/EBITDA −2.8
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −41.5%.
- Quarterly sales down 7.9% on a year ago.
- 45% below its 52-week high.
- Interest coverage of only −6.0×.
About Span Divergent
Span Divergent Limited, through its subsidiaries, engages in the food, agriculture, and life science businesses in India. It operates through Cashew processing, Tissue Culture, and Trading segments. The company is involved in the processing of raw cashew nuts. It also provides life-science consumables; and offers management consultancy and strategic support services. The company was formerly known as Span Diagnostics Limited and changed its name to Span…
- Headquarters
- Surat
- Employees
- 6
- Sector
- Consumer Defensive
- ISIN
- INE004E01016
- Website
- span.in
Price range
- Avg volume (3M)
- 570
- 1-year return
- plus 16.5%
- From 52-week high
- minus 44.7%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| SDLSpan Divergent | 28.45 | plus 1.32% | 21 | – | 1.39 | −21.5% | −41.5% | −17.8% | 10.5% | – | 0.00% | plus 16.5% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1 | 7.6 | 3.8 | 4.6 | 0.9 | |
| 1.6 | 7.6 | 4.9 | 5.4 | 1.9 | |
| −0.7 | −0 | −1.1 | −0.9 | −1 | |
| −69.1% | 0.0% | −28.6% | −18.6% | −118.3% | |
| 0.7 | 0.2 | 0.2 | 0.1 | 0.3 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | |
| 0.2 | 0 | 0.1 | – | – | |
| −0.1 | −0.2 | −1.1 | −1.1 | −1.1 | |
| −17.6% | −13.8% | −0.6% | 1.2% | −3.7% | |
| −0.1 | −0.1 | −1 | −1 | −1.1 | |
| -0.31 | -0.34 | -1.78 | -2.02 | -1.64 |
Profit & loss
- Sales CAGR 3Y
- +10.5%
- ROE
- −41.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.5 | 12.3 | 8.6 | 16.9 | |
| – | minus 1.5% | minus 30.7% | +97.6% | |
| 11.3 | 10.7 | 9.2 | 19.5 | |
| 1.2 | 1.6 | −0.6 | −2.6 | |
| 9.7% | 13.1% | −7.4% | −15.3% | |
| 0.2 | 0.6 | 1.2 | 1.3 | |
| 0.8 | 0.7 | 0.6 | 0.4 | |
| 2.2 | 1.6 | 1.1 | 1.2 | |
| −3.9 | 0.9 | 0.1 | – | |
| −5.5 | 0.8 | −1.1 | −2.9 | |
| 1.8% | 2.3% | −17.6% | −1.5% | |
| −5.1 | 1 | −0.9 | −2.5 | |
| -9.93 | 1.79 | -2.33 | -5.38 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.5 | 5.5 | 5.5 | 7.3 | |
| −8.3 | −7.3 | −8.3 | 7.6 | |
| 11.2 | 9.1 | 8.4 | 7.1 | |
| 17.3 | 17 | 17.7 | 6.9 | |
| 25.6 | 24.2 | 23.2 | 28.9 | |
| 12.8 | 10.7 | 9.6 | 9.3 | |
| 0.5 | 0.5 | 0.4 | 0.1 | |
| 4.4 | 5.6 | 6.9 | 12.5 | |
| 8 | 7.3 | 6.3 | 7 | |
| 25.6 | 24.2 | 23.2 | 28.9 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2 | 2.5 | 1.9 | 0.2 | |
| 0.5 | 0.1 | −1 | 1.6 | |
| −2.3 | −2.1 | −1.1 | 4.1 | |
| 0.2 | 0.5 | −0.3 | 5.9 | |
| −0.2 | −0.4 | – | −0.4 | |
| 1.8 | 2.1 | 1.9 | −0.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.