TickerSutra

NSE: SPECTRUM · BSE: 544386 · ISIN INE01EO01010

Spectrum Electrical Industries Limited stock analysis

Spectrum Electrical Industries Limited ranks #666 in the TickerSutra evidence-ranked universe with a score of 61/100 and 95% data confidence. The latest captured fundamentals show ROCE of 17.7%, quarterly sales growth of 84.4% and quarterly profit growth of 118.2%.
Complete evidence gate watch governance reviewUpdated 29 Sept 2026
TICKERSUTRA SCORE61/100

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#666 of 5,430 ranked equities
Market capitalisation₹4,117.86cr
ROCE17.7%
Quarterly sales growth84.4%
Quarterly profit growth118.2%
P/E ratio82.4×
Promoter pledge0.0%

INVESTMENT EVIDENCE

What supports—and challenges—the thesis

Evidence in favour

  • Strong CFO/EBITDA of 0.93×
  • 25.9% three-year sales CAGR
  • CWIP indicates an active capacity pipeline
  • No promoter shares are reported as pledged

Risks and constraints

  • Debt/equity is above 0.5×
  • Valuation is above 40× earnings

Still unresolved: Related-party exposure · Broad media sentiment

FINANCIAL TRAJECTORY

Recent operating history

PeriodRevenueOperating profitNet profitOperating margin
2022₹251cr₹25cr₹8cr10.0%
2023₹253cr₹23cr₹8cr9.0%
2024₹322cr₹40cr₹19cr12.0%
2025₹397cr₹52cr₹24cr13.0%
2026₹505cr₹76cr₹43cr15.0%
TTM₹576cr₹88cr₹50cr15.0%
Debt / equity0.88×
CFO / EBITDA0.93×
Operating margin15.0%
Free cash flow₹-35cr
Sales CAGR · 3Y25.9%
Profit CAGR · 3Y75.2%

EXCHANGE EVENT TRIGGERS

Latest corporate disclosures

0 positive catalysts0 negative catalysts7 routine filings

MANAGEMENT COMMENTARY

Signals from filed documents

Customer concentrationModerate severity · 2 mentions
Risk easing

Possibility That Expands Corporate Overview Statutory Reports Financial Statements 6 7 Annual Report 2025-26 Annual Report 2025-26 We have never believed in presenting a business as free of risk. Our B2B model necessarily entails a degree of customer concentration, and a substantial share of revenue is derived from a limited number of multinational customers. This is a real exposure, managed through long-standing cus

Regulatory updatesLow severity · 22 mentions
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The diversity of their professional backgrounds and areas of expertise enables the Board to benefit from a broad range of knowledge and experience. The Company has a well-defined induction and familiarization programme for its Directors to enable them to understand the Company’s business operations, the nature of its industry, business model and the applicable regulatory framework. The programme is designed to familiar

Regulatory approvalLow severity · 10 mentions
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Rahul Vasant Lavane, Company Secretary and Com- pliance Officer, acts as the Compliance Officer for the pur- poses of the SEBI PIT Regulations and is responsible for administering and monitoring compliance with the Code and the applicable requirements relating to prevention of insider trading. POLICY FOR PRESERVATION OF DOCUMENTS (ARCHIVAL POLICY): Pursuant to Regulation 9 of the Securities and Exchange Board of Indi

Niche productsLow severity · 1 mention
Positive catalyst

Growth of this scale will not be distributed evenly across the value chain. It will increasingly favour manufacturers that can deliver repeatability, process control, traceability and reliable execution across increasingly complex product requirements. For Spectrum, the opportunity lies in applications where a component’s performance depends on the integration of material, tooling, forming, surface treatment, assembl

Capacity expansion plansLow severity · 1 mention
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Spectrum continued to deepen the platform on which its OEM business rests. This work is less visible than new capacity and considerably harder to replicate holding dimensional tolerance across millions of parts, maintaining plating chemistry that cannot vary between batches, and compressing the cycle from a customer’s drawing to a qualified part. Investment during the year went into precision, repeatability and proce

Institutional interestLow severity · 1 mention
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The declaration confirming compliance with the Code of Conduct, duly signed by the Managing Director, forms part of this Annual Report as Annexure IX. UTILIZATION OF FUNDS RAISED BY WAY OF PREFERENTIAL ISSUE DURING THE YEAR 2025-26: The Company had raised funds through the Qualified Institutions Placement (“QIP”) by way of issue and allotment of 3,10,500 Equity Shares to eligible Qualified Institutional Buyers (“QIBs

Export market updatesLow severity · 1 mention
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Actual results could differ materially from those expressed or implied. Important factors that could cause a difference to the Company’s operations include economic conditions affecting demand and supply, price conditions in the domestic and overseas markets in which the Company operates, changes in Government regulations, tax laws and other statutes, and other incidental factors. 11 Internal Control Systems and Thei

HOW TO READ THIS PAGE

Evidence, freshness and limitations

What does the TickerSutra score mean?

The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.

Which sources support this page?

Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.

Why can an item be unresolved?

Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.

Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer

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