SPML Infra Limited SPMLINFRA NSEINFRA

Industrials · Engineering & Construction · India

https://www.spml.co.in

SPML Infra Limited operates as an infrastructure development company in India. The company undertakes water supply and bulk water transmission, wastewater and sanitation, and power distribution and rural electrification projects; constructs pumping stations and water reservoir; and offers metering and billing solutions, and battery energy storage systems, as well as provides services in various areas, including construction of dams, canals, lift irrigation, and micro irrigation. It also undertakes power generation, transmission, and distribution projects, including the construction of hydro, solar, wind, gas turbine, and thermal power plants; and offers rural electrification, and integrated and smart energy management solutions. In addition, the company develops roads, bridges, flyovers, highways, industrial infrastructure, tunnels, special economic zones, industrial/business/technology parks, airports, bus terminals, automated car parking facilities, and toll express roads. Further, it provides municipal solid waste management solutions, such as collection, segregation, transportation, and safe disposal, as well as sewer rehabilitation solutions. Additionally, it develops an integrated management information system for metering, billing, CRM, network analysis, demand forecasting and management, asset and inventory management, business intelligence, and operation and maintenance of the entire network. The company was formerly known as Subhash Projects and Marketing Limited and changed its name to SPML Infra Limited in April 2010. SPML Infra Limited was incorporated in 1981 and is based in Kolkata, India.

Market & Price

Market Cap

₹1,746.78 Cr

Current Price

₹207.62

High / Low (52W)

₹307.97 / ₹153.73

Beta

Valuation

Stock P/E

28.40

Industry PE

27.78

Forward P/E

PEG Ratio

Book Value

₹112.12

Price to Book

1.85

P/S

1.97

EV/EBITDA

21.74

Dividend Yield

Profitability & Returns

ROCE

6.92%

ROE

8.69%

ROA

2.44%

Profit Margin

8.41%

Op Margin

7.71%

EPS (Latest Qtr)

₹2.46

EPS (TTM)

₹7.31

Balance Sheet & Liquidity

Debt/Equity

0.38

Quick Ratio

0.87

Current Ratio

1.70

Debt

₹358.07 Cr

Total Assets

₹1,966.77 Cr

Current Assets

₹1,069.58 Cr

Working Capital

₹484.61 Cr

Ownership

Promoter Holding

64.12%

Chg in Prom Hold

FII / Inst Holding

3.20%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹1,855.90 Cr

Total Revenue (TTM)

₹887.86 Cr

EBITDA

₹85.37 Cr

Free Cash Flow

₹-51.99 Cr

Operating Cash Flow

₹-112.53 Cr

Shares Outstanding

₹8.39 Cr

Gross Margin

19.16%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-7.41%

Profit 5Y

11,537.08%

Revenue (YoY)

55.50%

Earnings (YoY)

204.70%

PROS

Profit CAGR of 11537.1% over 5 years.

CONS

Revenue declined at -7.4% CAGR over 5 years.
Trading 32.6% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

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Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	SPMLINFRA SPML Infra Limited NSEINFRA	207.62	28.40	₹1,746.78 Cr	-	6.92%	8.69%	-7.41%	11,537.08%
2	LT Larsen & Toubro Limited NIFTY50NSEAIINFRA	4,076.50	34.84	₹5.61 L Cr	0.93%	14.55%	16.95%	16.09%	15.38%
3	ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA	1,804.60	30.96	₹4.16 L Cr	0.42%	11.02%	15.59%	22.93%	34.11%
4	HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU	4,303.80	31.55	₹2.88 L Cr	1.16%	13.80%	23.98%	7.87%	16.08%
5	POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA	38,445.00	172.41	₹1.71 L Cr	0.02%	24.92%	21.04%	22.24%	119.12%
6	INDIGO InterGlobe Aviation Limited NSEINFRA	4,405.00	-	₹1.70 L Cr	0.24%	15.53%	-	44.12%	72.60%
7	CUMMINSIND Cummins India Limited NSEINFRA	5,881.00	68.97	₹1.63 L Cr	1.12%	34.95%	29.45%	16.07%	24.35%
8	CGPOWER CG Power and Industrial Solutions Limited NSEINFRA	917.45	118.99	₹1.44 L Cr	0.14%	19.35%	19.56%	21.67%	7.81%
9	POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA	9,477.50	53.48	₹1.43 L Cr	0.37%	30.44%	24.58%	26.57%	28.11%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	187.86 Cr	149.39 Cr	155.91 Cr	187.76 Cr	229.76 Cr
Cost of Revenue	-	160.90 Cr	162.74 Cr	132.88 Cr	158.93 Cr	186.66 Cr
Gross Profit	-	26.96 Cr	-13.35 Cr	23.03 Cr	28.83 Cr	43.11 Cr
Operating Expenses	-	17.41 Cr	15.72 Cr	15.91 Cr	20.23 Cr	18.83 Cr
Operating Income	-	9.55 Cr	-29.07 Cr	7.12 Cr	8.60 Cr	24.27 Cr
EBITDA	-	13.70 Cr	22.33 Cr	24.22 Cr	28.29 Cr	34.89 Cr
Interest Expense	-	1.39 Cr	9.59 Cr	9.20 Cr	9.08 Cr	14.03 Cr
Pretax Income	-	12.20 Cr	12.55 Cr	14.91 Cr	19.01 Cr	20.34 Cr
Tax Provision	-	2.25 Cr	53.29 L	2.80 Cr	3.97 Cr	0
Net Income	-	9.94 Cr	12.01 Cr	12.12 Cr	15.04 Cr	20.34 Cr
Diluted EPS	2.05	1.04	-	1.44	1.79	2.46

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	920.94 Cr	854.62 Cr	1,230.42 Cr	731.00 Cr
Cost of Revenue	851.07 Cr	770.03 Cr	1,019.58 Cr	662.55 Cr
Gross Profit	69.87 Cr	84.58 Cr	210.84 Cr	68.46 Cr
Operating Expenses	86.28 Cr	75.85 Cr	133.14 Cr	65.73 Cr
Operating Income	-16.41 Cr	8.73 Cr	77.70 Cr	2.72 Cr
EBITDA	24.32 Cr	56.37 Cr	59.06 Cr	96.50 Cr
Interest Expense	21.58 Cr	50.26 Cr	56.92 Cr	39.08 Cr
Pretax Income	-1.26 Cr	2.93 Cr	-22.76 L	56.51 Cr
Tax Provision	-1.12 Cr	2.59 Cr	1.38 Cr	8.58 Cr
Net Income	-13.89 L	39.08 L	-6.97 Cr	47.94 Cr
Diluted EPS	-0.09	0.08	-1.42	6.36

Compounded Sales Growth

5 Years:	-7.41%
1 Year:	55.50%

Compounded Profit Growth

5 Years:	11,537.08%
1 Year:	204.70%

Stock Price Performance

1 Year:	+5.56%
6 Months:	+8.03%
3 Months:	+19.81%
1 Month:	-1.61%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	2,804.82 Cr	2,792.63 Cr	1,891.81 Cr	1,966.77 Cr
Current Assets	1,797.09 Cr	1,697.86 Cr	1,033.85 Cr	1,069.58 Cr
Cash & Equivalents	40.69 Cr	20.07 Cr	228.08 Cr	129.44 Cr
Inventory	90.23 Cr	92.44 Cr	37.38 Cr	50.05 Cr
Receivables	1,450.72 Cr	685.05 Cr	530.63 Cr	498.01 Cr
Total Liabilities	2,478.27 Cr	2,443.63 Cr	1,428.32 Cr	1,196.63 Cr
Current Liabilities	1,666.13 Cr	1,614.72 Cr	701.84 Cr	584.96 Cr
Long Term Debt	663.59 Cr	635.93 Cr	518.98 Cr	457.91 Cr
Total Debt	1,811.50 Cr	1,753.67 Cr	811.74 Cr	524.47 Cr
Total Equity	319.85 Cr	342.47 Cr	460.28 Cr	770.14 Cr
Shares Outstanding	3.94 Cr	4.54 Cr	4.90 Cr	7.15 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	-18.96 Cr	20.04 Cr	594.49 Cr	-84.40 Cr
Investing Cash Flow	35.96 Cr	45.92 Cr	-6.63 Cr	-90.50 Cr
Financing Cash Flow	-15.97 Cr	-86.58 Cr	-409.74 Cr	76.26 Cr
Capital Expenditure	-65.33 L	-50.46 L	-66.77 Cr	-57.38 L
Free Cash Flow	-19.61 Cr	19.53 Cr	527.72 Cr	-84.97 Cr
Net Change in Cash	1.03 Cr	-20.62 Cr	178.12 Cr	-98.64 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	7.6%	9.9%	17.1%	9.4%
Operating Margin %	-1.8%	1.0%	6.3%	0.4%
Net Margin %	-0.0%	0.0%	-0.6%	6.6%
ROE %	-0.0%	0.1%	-1.5%	6.2%
ROCE %	-1.4%	0.7%	6.5%	0.2%

Shareholding Pattern

Insiders

64.12%

Institutions

3.20%

Public Float

8.93%

Analyst View

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SPMLINFRA · Industrials