Spel Semiconductor Ltd

₹ 248 4.99%

03 Jul 4:01 p.m.

About

Incorporated in 1984, SPEL Semiconductor Ltd is in the business of wafer sort, assembly, test and drop-shipment services of IC chips^[1]

Key Points

Holding Company:^[1]
Natronix Semiconductor Technology Pvt Ltd, headquartered in Singapore and a member of the Valingro Group has its OSAT presence in India through its subsidiary, SPEL Semiconductor Ltd

Website BSE

Market Cap ₹ 1,146 Cr.
Current Price ₹ 248
High / Low ₹ 248 / 49.1
Stock P/E
Book Value ₹ 12.7
Dividend Yield 0.00 %
ROCE -7.61 %
ROE -15.2 %
Face Value ₹ 10.0

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Pros

Cons

Stock is trading at 19.6 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -14.9% over past five years.
Company has a low return on equity of -12.5% over last 3 years.
Company has high debtors of 158 days.
Working capital days have increased from 101 days to 173 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Electronics Industry: Electronics - Components

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2011	Dec 2011	Mar 2012	Jun 2012	Sep 2012	Dec 2012	Mar 2013	Jun 2013	Sep 2013	Dec 2013	Mar 2014	Dec 2014	Mar 2015
	21.20	17.77	21.58	21.97	22.67	19.51	16.61	15.67	20.27	12.35	15.09	12.74	8.34
	18.08	14.76	18.52	17.59	19.34	17.52	14.89	12.97	15.42	8.97	11.29	9.13	6.99
Operating Profit	3.12	3.01	3.06	4.38	3.33	1.99	1.72	2.70	4.85	3.38	3.80	3.61	1.35
OPM %	14.72%	16.94%	14.18%	19.94%	14.69%	10.20%	10.36%	17.23%	23.93%	27.37%	25.18%	28.34%	16.19%
	-0.16	-0.59	0.37	0.09	-0.50	0.39	0.39	0.30	0.19	0.48	0.17	0.23	0.38
Interest	0.45	0.70	0.95	1.72	1.21	1.44	1.26	1.14	1.50	1.08	0.99	1.03	0.98
Depreciation	2.29	2.34	2.48	3.06	3.89	3.12	1.78	2.96	2.96	2.70	2.34	2.75	1.87
Profit before tax	0.22	-0.62	0.00	-0.31	-2.27	-2.18	-0.93	-1.10	0.58	0.08	0.64	0.06	-1.12
Tax %	27.27%	32.26%		-3.23%	0.00%	33.49%	46.24%	27.27%	29.31%	25.00%	-1.56%	16.67%	19.64%
	0.16	-0.42	0.02	-0.32	-2.27	-1.45	-0.49	-0.80	0.41	0.06	0.66	0.05	-0.90
EPS in Rs	0.03	-0.09	0.00	-0.07	-0.49	-0.31	-0.11	-0.17	0.09	0.01	0.14	0.01	-0.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
	46.29	53.90	72.81	81.00	87.16	91.46	79.78	80.77	63.39	47.20	25.85	35.67
	40.61	42.94	56.71	62.04	69.01	74.77	67.26	70.00	48.65	34.85	35.38	36.96
Operating Profit	5.68	10.96	16.10	18.96	18.15	16.69	12.52	10.77	14.74	12.35	-9.53	-1.29
OPM %	12.27%	20.33%	22.11%	23.41%	20.82%	18.25%	15.69%	13.33%	23.25%	26.17%	-36.87%	-3.62%
	6.69	1.19	3.67	2.25	1.48	1.61	0.86	1.23	1.14	1.38	-0.33	2.63
Interest	1.23	1.46	2.79	3.24	2.14	1.73	3.25	5.84	4.71	4.05	3.05	2.67
Depreciation	3.82	4.28	6.08	8.34	8.20	8.84	9.38	11.85	10.96	10.13	10.72	7.11
Profit before tax	7.32	6.41	10.90	9.63	9.29	7.73	0.75	-5.69	0.21	-0.45	-23.63	-8.44
Tax %	21.04%	38.38%	33.12%	35.10%	34.34%	41.53%	28.00%	20.39%	-52.38%	26.67%	16.17%	-4.50%
	5.78	3.95	7.29	6.25	6.10	4.52	0.54	-4.53	0.32	-0.33	-19.80	-8.81
EPS in Rs		0.87	1.58	1.36	1.32	0.98	0.12	-0.98	0.07	-0.07	-4.29	-1.91
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-4%
5 Years:	-15%
3 Years:	-17%
TTM:	38%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	49%

Stock Price CAGR
10 Years:	39%
5 Years:	122%
3 Years:	152%
1 Year:	369%

Return on Equity
10 Years:	-1%
5 Years:	-8%
3 Years:	-13%
Last Year:	-15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
Equity Capital	45.45	45.45	46.13	46.13	46.13	46.13	46.13	46.13	46.13	46.13	46.13	46.13
Reserves	-1.44	2.99	34.08	34.62	40.71	45.24	45.98	41.18	41.51	40.87	21.07	12.25
	19.62	29.07	46.76	44.30	29.40	35.28	38.65	33.10	30.34	27.30	16.16	28.23
	12.86	12.59	31.86	22.38	27.06	28.81	27.49	27.67	27.41	30.16	47.02	36.60
Total Liabilities	76.49	90.10	158.83	147.43	143.30	155.46	158.25	148.08	145.39	144.46	130.38	123.21
	40.23	58.98	112.36	116.46	112.09	104.06	127.01	118.87	108.57	98.11	87.20	68.88
CWIP	18.87	8.70	0.23	0.32	0.33	14.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	17.39	22.42	46.24	30.65	30.88	37.40	31.24	29.21	36.82	46.35	43.18	54.33
Total Assets	76.49	90.10	158.83	147.43	143.30	155.46	158.25	148.08	145.39	144.46	130.38	123.21

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
	7.48	5.49	15.14	19.06	16.33	15.19	18.23	13.24	5.12	5.81	-6.96	-15.54
	-15.23	-13.08	-30.41	-14.24	-7.18	-14.23	-17.71	-3.36	1.48	0.38	0.91	6.83
	7.43	7.99	18.22	-4.61	-12.59	2.03	-2.55	-10.61	-6.83	-6.32	6.01	14.24
Net Cash Flow	-0.32	0.40	2.95	0.21	-3.44	2.99	-2.03	-0.73	-0.23	-0.13	-0.05	5.53

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2007	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
Debtor Days	17.35	27.22	22.26	18.39	33.00	18.24	30.33	24.40	54.47	43.61	53.94	158.50
Inventory Days	297.03	290.17	196.51	197.30	167.97	152.26	183.15	166.68	381.23	2,093.72	1,177.89	344.06
Days Payable	258.46	150.71	95.12	103.97	108.22	86.56	81.38	97.81	166.72	557.55	345.15	351.87
Cash Conversion Cycle	55.92	166.68	123.65	111.72	92.75	83.93	132.11	93.27	268.98	1,579.78	886.68	150.68
Working Capital Days	23.34	69.14	60.96	53.80	54.48	15.92	31.71	26.57	53.09	116.69	13.70	172.73
ROCE %		11.15%	13.39%	10.21%	9.47%	7.79%	3.11%	0.12%	4.13%	3.10%	-19.67%	-7.61%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	59.17%	59.17%	59.17%	59.17%	59.17%	59.18%	59.18%	59.18%	59.18%	59.18%	59.18%	59.18%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.09%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	40.79%	40.79%	40.79%	40.78%	40.78%	40.78%	40.78%	40.80%	40.80%	40.78%	40.78%	40.70%
No. of Shareholders	28,113	29,494	30,273	56,706	59,873	61,930	62,155	61,548	61,548	62,288	65,538	73,794

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	59.17%	59.17%	59.17%	59.17%	59.17%	59.17%	59.18%	59.18%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.09%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.02%	0.02%
	40.79%	40.79%	40.79%	40.79%	40.79%	40.78%	40.80%	40.70%
No. of Shareholders	30,811	28,606	27,959	27,562	27,684	56,706	61,548	73,794

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Spel Semiconductor Ltd

Spel Semiconductor Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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