Company Overview

SPL Industries Limited designs, manufactures, and sells cotton knitted garments and made ups in India and internationally. Originally incorporated on December 6, 1991, as a private limited company with the name Shivalik Prints Pvt Ltd, the company was established with the main objective of carrying on the business of manufacturing and export of apparel. The company was formerly known as Shivalik Prints Private Limited and changed its name to SPL Industries Limited in September 1994. SPL Industries Limited was incorporated in 1991 and is based in Faridabad, India.

Business Operations and Products

The company operates through Manufacturing Cotton Knitted Garments and Made Ups and Processing Charges; and Trading of Garments segments. The company offers knitted fabrics, such as single jersey, jacquard, interlocks, flat backs, auto stripes fleece, double jersey jacquard, and waffles and various textures; and a range of outerwear, such as T-shirts, sweatshirts, and polo shirts, etc. The Company also manufactures home furnishings, including bed sheets, curtains, and pillows.

In addition, the company is involved in processing activities, such as printing, dyeing, coloring, spinning, weaving, combing, knitting, and bleaching services. The company has five manufacturing units in Faridabad, Haryana, and is capable of producing 100,000 pieces of knitted garments per month. Over the years, they have increased their production capacity to 7,000 MT of knitted fabric and 22.5 million pieces of fabric garments.

Global Presence and Markets

SPL Industries exports its products to the United States, Canada, Mexico, the United Kingdom, Germany, Spain, the Netherlands, the Middle East, and Japan. In the year 2005, the company was accorded the status of Two Star Export House in accordance with the provisions of the Foreign Trade Policy. The company has established itself as a significant player in the global textile and apparel export market, serving diverse international markets across North America, Europe, and Asia.

Financial Performance

SPL Industries reported a 30.82% decline in standalone net profit for Q1 March 2025, totaling Rs 2.94 crore. Sales also fell by 55.23% to Rs 30.72 crore. For the full year, net profit decreased by 16.68% to Rs 9.79 crore, with annual sales down 30.03% to Rs 139.42 crore.

Key Financial Metrics

- Market Capitalization: ₹123 Crore (as of July 2025)

- Annual Revenue: ₹139.42 Crore (trailing 12-month basis)

- Net Profit: ₹9.79 Crore (full year)

- P/E Ratio: 11.05 (as of 4/6/2025)

- P/B Ratio: 0.51 (as of 4/6/2025)

Shareholding Pattern

Promoter holding in SPL Industries Ltd has gone up to 68.93% as of Mar 2025 from 68.93% as of Jun 2024. This indicates stable promoter commitment to the company with no significant changes in the ownership structure over the past quarters.

Stock Performance

The SPL Industries Ltd's 52-week high share price is ₹73.00 and 52-week low share price is ₹30.49. In terms of performance, SPL Industries Ltd share price has declined by 34.4% over the past six months and has declined by 33.69% over the last year. The stock has faced significant volatility and downward pressure in recent periods, reflecting challenges in the textile and apparel export sector.

Industry Position

The company has delivered a poor sales growth of -4.66% over the past five years. Over the last 5 years, revenue has grown at a yearly rate of 5.71%, vs industry avg of 7.62%. Market share decreased from 0.43% to 0.37%. Despite being a recognized name in the apparel export industry, the company faces challenges in maintaining growth momentum and market share expansion.

Balance Sheet Strength

The company is debt-free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. This debt-free status provides financial flexibility and reduces financial risk, which is particularly advantageous during challenging market conditions. Though the company is reporting repeated profits, it is not paying out dividends.

SPL Industries continues to operate as a significant player in India's textile and apparel export sector, leveraging its established manufacturing capabilities and international market presence despite facing recent operational challenges and market headwinds.