On 6 Nov 2026, S. P. Apparels was priced at ₹857.35, or 20.6× trailing earnings, against an industry P/E of 17.2×, and the shares are 30% below their 52-week high. It earns ROCE of 16% and ROE of 11%, and sales and net profit grew 13% and 7.0% a year over 3 years. Its dividend yield is 0.3%, and debt is 0.45× equity. It is a small-cap company with a market cap of ₹2,155 Cr, ranked 11th of 61 Apparel Manufacturing companies by market cap; the shares rose 23% over the past year.
- ₹881.40
- ₹881.40
- ₹836.00
- ₹880.35
- 45.4K
Health check
- ReturnsAhead
+23.2% over a year, better than 5 of 7 peers.
- Price tagPricier
P/E 20.6 vs industry 17.2.
- GrowthSteady
Sales +13.3%, profit +7.0% a year over 3 years.
- ProfitabilityAverage
ROCE 15.9% vs peer median 20.1%.
- Balance sheetSolid
Debt 0.45× equity, interest covered 9.9×.
- Red flags1 to check
Quarterly sales down 0.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,155 Cr
- Small cap
- P/E
- 20.6
- Industry 17.2
- Price to book
- 2.28
- Peers 5.48
- Dividend yield
- 0.35%
- ROE
- 11.2%
- Peers 20.0%
- ROCE
- 15.9%
- Peers 20.1%
- Debt to equity
- 0.45
- Debt ₹419 Cr
- EPS (TTM)
- ₹41.72
- Face value ₹10
- OPM (TTM)
- 14.4%
- Net margin 6.7%
- Sales growth
- −0.6%
- Latest quarter vs a year ago
- Profit growth
- +20.4%
- Latest quarter vs a year ago
- Price to sales
- 1.37
- EV/EBITDA 11.0
Strengths and risks
Strengths
- Quarterly profit up 20.4% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly sales down 0.6% on a year ago.
About S. P. Apparels
S.P. Apparels Limited, together with its subsidiaries, manufactures and exports knitted garments for infant wear, children's apparel, and intimate wear in India and internationally. The company offers yarns, fabrics, and cotton waste products under the Angel & Rocket brand. The company also provides dyeing, embroidery, and printing services. In addition, it engages in the manufacture, distribution, marketing, and retail sale of menswear garments under the…
- Headquarters
- Tirupur
- Employees
- 13,534
- Sector
- Consumer Cyclical
- ISIN
- INE212I01016
- Website
- s-p-apparels.com
Price range
- Avg volume (3M)
- 67.9K
- 1-year return
- plus 23.2%
- From 52-week high
- minus 29.8%
Peers · Apparel Manufacturing
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PAGEINDPage Industries | 35,930.00 | plus 1.15% | 40,076 | 53.0 | 26.67 | 61.5% | 52.5% | 21.4% | 3.8% | 10.2% | 2.23% | minus 11.5% |
| PGILPearl Global Industries | 1,338.80 | 0.00% | 12,368 | 39.9 | 8.46 | 20.1% | 21.2% | 9.0% | 17.5% | 23.0% | 0.54% | plus 105.8% |
| MANYAVARVedant Fashions | 472.80 | minus 6.51% | 11,488 | 29.8 | 5.48 | 22.3% | 20.0% | 44.0% | 1.9% | −4.3% | 1.64% | minus 21.6% |
| GOKEXGokaldas Exports | 682.95 | minus 7.32% | 5,004 | 37.8 | 2.32 | 8.9% | 4.7% | 8.2% | 20.9% | −16.7% | 0.00% | minus 14.5% |
| ABFRLAditya Birla Fashion and Retail | 39.02 | minus 6.61% | 4,748 | – | 0.91 | −3.2% | −12.3% | 8.9% | −13.0% | – | 0.00% | minus 50.3% |
| LUXINDLux Industries | 1,162.40 | plus 0.41% | 3,496 | 34.1 | 1.86 | 9.3% | 5.9% | 6.4% | 7.2% | −9.9% | 0.17% | minus 7.5% |
| SBCSBC Exports | 68.70 | plus 2.86% | 3,271 | 80.8 | 32.48 | 36.4% | 41.5% | 8.7% | 27.2% | 54.1% | 0.00% | plus 176.0% |
| SPALS. P. Apparels | 857.35 | minus 2.61% | 2,155 | 20.6 | 2.28 | – | 11.1% | 14.4% | – | – | 0.35% | plus 23.2% |
| Median of 7 peers | – | 0.00% | 5,004 | 38.9 | 5.48 | 20.1% | 20.0% | 8.9% | 7.2% | 2.9% | 0.17% | −11.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 403 | 427 | 383 | 365 | 401 | |
| 351 | 364 | 326 | 320 | 340 | |
| 52.9 | 63.7 | 56.6 | 44.6 | 61.4 | |
| 13.1% | 14.9% | 14.8% | 12.2% | 15.3% | |
| 0.9 | 5.2 | 2.9 | 2.7 | 2.6 | |
| 11.8 | 10.3 | 10 | 8.6 | 14.9 | |
| 11.3 | 11.7 | 12.5 | 12.3 | 13.2 | |
| 30.8 | 46.8 | 37 | 26.4 | 35.8 | |
| 32.9% | 25.9% | 27.0% | 29.7% | 30.6% | |
| 20.7 | 34.7 | 27 | 18.6 | 24.9 | |
| 8.20 | 13.77 | 10.71 | 7.38 | 9.86 |
Profit & loss
- Sales CAGR 3Y
- +13.3%
- Profit CAGR 3Y
- +7.0%
- EPS CAGR 3Y
- +7.4%
- ROE
- 11.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,027 | 1,031 | 1,321 | 1,496 | |
| – | +0.4% | +28.1% | +13.2% | |
| 872 | 866 | 1,131 | 1,259 | |
| 155 | 166 | 191 | 237 | |
| 15.1% | 16.1% | 14.4% | 15.8% | |
| 13.3 | −9.5 | −1 | −19.6 | |
| 12.3 | 13.8 | 22.1 | 23.9 | |
| 36.2 | 37.8 | 43.3 | 47.9 | |
| −9.5 | 13 | −1.1 | −4.2 | |
| 111 | 118 | 123 | 141 | |
| 25.5% | 23.8% | 22.8% | 28.4% | |
| 82.5 | 89.6 | 95.1 | 101 | |
| – | +8.6% | +6.1% | +6.1% | |
| 32.37 | 35.72 | 37.90 | 40.09 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 25.1 | 25.1 | 25.1 | 25.1 | |
| 649 | 739 | 831 | 921 | |
| 245 | 203 | 381 | 419 | |
| 179 | 175 | 219 | 226 | |
| 1,097 | 1,142 | 1,456 | 1,591 | |
| 461 | 482 | 617 | 675 | |
| 9.9 | 36.2 | 60.9 | 26.4 | |
| 40.4 | 1.2 | 10.1 | 44.2 | |
| 133 | 129 | 35.3 | 67.5 | |
| 453 | 493 | 732 | 778 | |
| 1,097 | 1,142 | 1,456 | 1,591 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 216 | 79.2 | 44.4 | 209 | |
| −160 | 6.2 | −177 | −189 | |
| −47.8 | −66.8 | 82.5 | −1.5 | |
| 8.3 | 18.6 | −49.8 | 18.4 | |
| −51.8 | −55 | −82.2 | −108 | |
| 164 | 24.2 | −37.8 | 101 | |
| – | −7.5 | – | −5 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 15.3% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.