NSE: SPECTRUM · BSE: 544386
SPECTRUM ELECTRIC IND LTD
Manufactures electrical press components, injection moulded plastic components, and provides electroplating services for industrial customers, with operations based in Jalgaon, Maharashtra. Group revenue for FY26 stood at Rs 525.94 crore on a consolidated basis with net profit of Rs 44.48 crore, and raw materials are the dominant cost at 71.8% of revenue. The wholly owned subsidiary Spectrum Electrical Technologies Private Limited handles the manufacturing of electrical press components, injection moulding plastic components, and electroplating, with FY25-26 turnover of Rs 23.12 crore. Capital expenditure ran at 27.1% of revenue in FY26, and capital work-in-progress surged from Rs 188 lakh to Rs 1,168 lakh, pointing to an active expansion phase. The company acquired Alric Electric Private Limited as a wholly owned subsidiary for Rs 111 lakh in March 2026 and has signed a non-binding MOU with the Government of Maharashtra for a planned Rs 110 crore investment at Talegaon Akrale Industrial Area, expected to generate 525 jobs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Electrical press components, Injection moulded plastic components, Electroplating services. Capital goods and industrial products manufacturer, materials-intensive, in an active capacity expansion phase
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 402 | 526 |
| EBITDA (ex other income) | 54 | 80 |
| margin % | 13.4 | 15.2 |
| Owners' profit | 26 | 44 |
| EPS, as reported (₹) | 16.41 | 28.33 |
| ROE % · ROCE % | 13.3 · 17.3 | 18.2 · 16.3 |
| Debt / equity (x) | 0.88 | 0.89 |
| Cash from operations | (26) | 94 |
| Capex | (61) | (143) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 169 | 85 | 118 | 125 | 283 | 155 |
| Profit before tax | 20 | 6 | 12 | 12 | 34 | 18 |
| Net profit | 14 | 6 | 8 | 10 | 26 | 13 |
| EPS (₹) | 8.70 | 3.65 | 4.93 | 6.44 | 16.93 | 8.31 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 106.3 | 26.7 | 117 of 130 | 10% |
| P/B | 25.0 | 3.1 | 109 of 112 | 3% |
| ROCE | 12.9 | 11.3 | 62 of 142 | 57% |
| ROE | 18.2 | 9.8 | 16 of 113 | 87% |
| Debt / Equity | 0.9 | 0.2 | 99 of 113 | 13% |
| EBITDA margin | 17.0 | 12.4 | 36 of 110 | 68% |
| Revenue growth | 80.9 | 20.6 | 16 of 114 | 87% |
| Profit growth | 131.9 | 17.1 | 18 of 109 | 84% |
| Market cap | 6117 | 273 | 14 of 141 | 91% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to review September 2026 quarter and half-year results | board shareholder meetings | low | — | — |
| 13 Oct 2026 · Quarterly Compliance Certificate from Registrar under SEBI Depositories Regulations | compliance | minimal | — | — |
| 6 Oct 2026 · Trading approval for 13.7 lakh preferential shares | capital market events | low | — | — |
| 2 Oct 2026 · AGM 2026 results: all 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 1 Oct 2026 · Listing approval for 13,73,625 preferential shares at Rs 2,002 each | capital market events | medium | — | — |
| 30 Sept 2026 · 18th AGM held Sep 30; FY26 accounts adopted, director reappointed, cost auditor ratified | board shareholder meetings | low | — | — |
| 27 Sept 2026 · Trading window closure from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · CRISIL upgrades Spectrum Electrical bank facility ratings | credit debt | high | — | — |
| 22 Sept 2026 · MoU with Maharashtra Govt for ITI upgradation under CSR | general | low | — | — |
| 20 Sept 2026 · Board approves interim investment of Rs 287.50 crores from preferential issue | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.