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NSE:SPELS

SPEL SEMICONDUCTOR LTD

Capital Goods › Electrical Equipment
ThemesSemiconductors & Electronics· core

Latest filings

  1. Independent Director Mr. Ramanujam Venkatesh resigns from SPEL board · Management Changes
  2. SPEL Semiconductor 41st AGM held on Sep 14, 2026; key resolutions passed · Board & Shareholder Meetings
  3. SPEL AGM Sep 14 - Rights Issue up to Rs 500 Cr, Land Sale and Borrowing Plan on Agenda · Board & Shareholder Meetings
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Provides outsourced semiconductor back-end services — assembly, test, mark, and packaging of integrated circuits — from a single factory in Maraimalai Nagar, Chennai. Revenue for FY26 was Rs 6.28 crore, with total income of Rs 853.07 lakhs, and the customer base and end markets are not disclosed in the filings. Operations at the Chennai factory have been suspended since January 14, 2026 due to a working capital shortage that left the company unable to procure raw materials, pay utilities, or cover overheads, and the statutory auditor flagged material uncertainty about the company's ability to continue as a going concern. On the cost side, other operating expenses stood at 52.4% of revenue, employee costs at 40.5%, materials at 22.5%, and depreciation at 18.2%. The board has approved plans to modernize and expand manufacturing capacity in packaging, testing and automation, and has cleared applications for India Semiconductor Mission, PLI and state incentives. Funding proposals include a Rights Issue or QIP of up to Rs 500 crore and a further Rs 500 crore via FDI or FCCBs, and authorized share capital may rise from Rs 60 crore to Rs 150 crore.

Operating scale
Factory location
IC Assembly & Test plant, Maraimalai Nagar, Chennai
Plant status
Operations suspended since January 14, 2026 due to working capital shortageFY26
Service scope
Assembly, Test, Mark and Package of semiconductor integrated circuits
Tripartite MoU partners
California Software Company (Calsoft) and Natronix-India; targets R&D, design IP and AI solutions for semiconductor chipsJuly 2026
Proposed funding
Up to Rs 500 crore via Rights Issue/QIP, plus Rs 500 crore via FDI/FCCBs
Net worth erosion
Shrunk to Rs 304.43 lakhs as at March 31, 2026FY26
Biggest cost
Employee costs at 40.5% of revenue, ahead of materials at 22.5% and depreciation at 18.2%
Kind of business
Capital-intensive, single-site semiconductor back-end assembly and test; factory currently non-operational
Where it sits
Single-factory IC assembly and test operator listed on BSE, based in Chennai; seeking India Semiconductor Mission, PLI and state incentives alongside a fresh fundraise
Market Cap
₹—
P / E (TTM)
—
EV / EBITDA
—
Div Yield
—
Growth
-17.0%▼
Revenue 5y CAGR
PAT — · EBITDA —
Quality
-17.9%·
ROCE (5y median)
ROE -50.7% (5y median) · margin -280.9%
Leverage
6.86·
Debt / Equity · high
Net debt ₹21 Cr
Revenue FY21→FY26
0.4×▼
Margin −325.4 pts
₹16 Cr → ₹6 Cr
Where it sits among 56 Other Electrical Equipment peersBar = share of peers beaten · tick = industry median · latest reported figures
ROCE#54/55
ROE#50/50
Debt / Equity#50/50
EBITDA margin#3/51
Revenue growth#35/46
Profit growth#14/45

Scorecard

Measured from the filed financials, judged against its Other Electrical Equipment peers · as of FY26 — not investment advice

Strengths
Nothing stands out in the filed numbers.
Concerns
Revenue shrinking over 5 years (−17% a year)
Erratic profits — up in only 1 of the last 5 years
Negative returns on capital — −17.9% (5-year median)
#54 of 55 in Other Electrical Equipment on the latest reported figures · down from −6.2% in FY21
Carries more debt than its peers — 6.86× equity
higher than 100% of its 50 Other Electrical Equipment peers

Charts

How has the market priced it — with filings on the timeline?

SPELS · price

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Peers

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Financials

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Ownership

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Common questions

Answered from SPEL SEMICONDUCTOR LTD's filed financials and exchange disclosures

What does SPEL SEMICONDUCTOR LTD do?

SPEL SEMICONDUCTOR LTD is a Electrical Equipment company listed on NSE and BSE, trading under the symbol SPELS.

Is SPEL SEMICONDUCTOR LTD profitable?

No. Over the trailing twelve months SPEL SEMICONDUCTOR LTD reported a net loss of ₹24 Cr on revenue of ₹6.28 Cr.

Does SPEL SEMICONDUCTOR LTD pay a dividend?

Not in the latest reported year — SPEL SEMICONDUCTOR LTD's dividend payout for FY26 was nil.

Is SPEL SEMICONDUCTOR LTD debt-free?

No. It reported borrowings of ₹21 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹21 Cr after cash. Debt stands at 6.86× equity. That is higher than 100% of its 50 Other Electrical Equipment peers.

Where can I track SPEL SEMICONDUCTOR LTD's announcements?

Every NSE and BSE filing by SPEL SEMICONDUCTOR LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.