As of 6 Nov 2026, Spice Islands Industries trades at 49.8× trailing earnings, above the industry P/E of 29.6×. Its ROCE of 40% is the highest among its 5 Beverages (Non-Alcoholic) peers, though net profit is above operating profit, which points to a one-off gain. It carries very little debt, and its dividend yield is 0.1%. It is a small-cap company with a market cap of ₹411 Cr, ranked 3rd of 6 Beverages (Non-Alcoholic) companies by market cap; the shares rose 630% over the past year.
- ₹135.40
- ₹135.40
- ₹129.75
- ₹134.30
- 31.8K
Health check
- ReturnsAhead
+629.9% over a year, better than 5 of 5 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthStrong
Sales +202.0% a year over 3 years.
- ProfitabilityStrong
ROCE 40.5% vs peer median 15.3%.
- Balance sheetSolid
Practically debt-free, Piotroski 7 of 9.
- Red flags2 to check
Net profit is above operating profit, so a one-off gain is likely flattering earnings.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹411 Cr
- Small cap
- P/E
- 49.8
- Industry 29.6
- Price to book
- 29.34
- Peers 1.40
- Dividend yield
- 0.09%
- ROE
- 69.1%
- Peers 16.6%
- ROCE
- 40.5%
- Peers 15.3%
- Debt to equity
- 0.04
- Debt ₹0.59 Cr
- EPS (TTM)
- ₹2.65
- OPM (TTM)
- 8.2%
- Net margin 19.5%
- Sales growth
- +825.9%
- Latest quarter vs a year ago
- Profit growth
- +320.4%
- Latest quarter vs a year ago
- Price to sales
- 11.92
- EV/EBITDA 59.6
Strengths and risks
Strengths
- Return on equity of 69.1%.
- Return on capital employed of 40.5%.
- Practically debt-free.
- Quarterly profit up 320.4% on a year ago.
- Quarterly sales up 825.9% on a year ago.
Risks to check
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 49.8 against an industry P/E of 29.6.
About Spice Islands Industries
Spice Islands Industries Limited engages in the business of trading branded packaged beverages, providing hospitality services, and renting electric vehicles (EVs). It provides carbonated and pulp-based drinks, including drinking water. The company also offers services for loading and boarding, such as room rentals and restaurant services, including banquet services. In addition, it engages in the edible oil business. The company was formerly known as…
- Headquarters
- Mumbai
- Employees
- 38
- Sector
- Consumer Defensive
- ISIN
- INE882D01025
Price range
- Avg volume (3M)
- 42K
- 1-year return
- plus 629.9%
- From 52-week high
- minus 6.4%
Peers · Beverages - Non-Alcoholic
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VBLVarun Beverages | 438.00 | plus 1.08% | 1,48,153 | 151.6 | 6.80 | 19.4% | 16.8% | 23.0% | 17.3% | 26.6% | 0.46% | minus 8.0% |
| VINCOFEVintage Coffee And Beverages | 159.95 | minus 3.74% | 2,343 | 29.6 | 4.24 | 15.4% | 16.6% | 18.5% | 106.4% | 165.3% | 0.09% | plus 1.9% |
| SPICEISLINSpice Islands Industries | 132.00 | minus 1.71% | 411 | 49.8 | 29.34 | 40.5% | 69.1% | 8.2% | 202.0% | – | 0.09% | plus 629.9% |
| RAMANEWSShree Rama Newsprint | 26.14 | minus 3.22% | 393 | – | −3.73 | 1.1% | – | −1.9% | −11.2% | – | 0.00% | minus 4.4% |
| ORIBEVEROrient Beverages | 163.20 | minus 0.49% | 35 | 8.3 | 1.40 | 15.3% | 16.6% | 4.5% | 15.5% | 10.7% | 0.00% | minus 20.2% |
| GALACTICOGalactico Corporate Services | 1.81 | minus 0.55% | 33 | 12.1 | 0.63 | 6.0% | 3.7% | 7.8% | −11.9% | −47.2% | 0.00% | minus 19.5% |
| Median of 5 peers | – | −0.55% | 393 | 20.8 | 1.40 | 15.3% | 16.6% | 7.8% | 15.5% | 18.6% | 0.00% | −8.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1.9 | 1.7 | 3.3 | 10.9 | 17.8 | |
| 1.7 | 1.7 | 2.3 | 9.8 | 17.3 | |
| 0.3 | 0.1 | 1 | 1.1 | 0.6 | |
| 14.1% | 4.8% | 30.4% | 10.3% | 3.1% | |
| 0.1 | 0.7 | 0.5 | 2 | 0.9 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0.3 | 0.8 | 1.5 | 3.1 | 1.4 | |
| −0.5% | −0.2% | −0.2% | −0.5% | 0.4% | |
| 0.3 | 0.8 | 1.5 | 3.1 | 1.4 | |
| 0.77 | 1.82 | 2.95 | 6.25 | 2.24 |
Profit & loss
- Sales CAGR 3Y
- +202.0%
- ROE
- 69.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.6 | – | 0.8 | 17.9 | |
| 0.8 | – | 1.7 | 15.2 | |
| −0.2 | −0.5 | −0.9 | 2.7 | |
| −26.9% | – | −114.3% | 15.3% | |
| 0.2 | 1 | 2.1 | 3.1 | |
| 0.1 | 0.1 | 0.1 | 0 | |
| 0 | 0 | 0.1 | 0.1 | |
| −0.1 | −0.1 | – | −0 | |
| −0.1 | 0.3 | 1.1 | 5.6 | |
| −19.3% | – | 57.5% | −0.4% | |
| −0.1 | 0.3 | 0.5 | 5.7 | |
| – | – | +49.8% | +1086.3% | |
| -0.28 | 0.74 | 1.11 | 11.45 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.3 | 4.3 | 4.3 | 6.2 | |
| −4.9 | −4.6 | −1.9 | 7.8 | |
| 0.1 | 0.6 | 1.3 | 0.6 | |
| 2.4 | 0.9 | 1.4 | 3.1 | |
| 1.9 | 1.3 | 5.1 | 17.7 | |
| 0.6 | 0.2 | 3.1 | 5.7 | |
| – | – | – | 4.4 | |
| – | – | 0 | 0 | |
| 0 | 0.1 | 0.4 | 2.8 | |
| 1.3 | 0.9 | 1.6 | 4.8 | |
| 1.9 | 1.3 | 5.1 | 17.7 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.1 | −0.2 | 0.3 | 2.9 | |
| 0.2 | 0.4 | −2.9 | −5.7 | |
| −0.3 | −0.1 | 2.8 | 5.3 | |
| −0.1 | 0.1 | 0.2 | 2.5 | |
| −0 | – | −2.9 | −4.2 | |
| 0.1 | −0.2 | −2.6 | −1.3 |
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.