S. P. Apparels Limited (SPAL) - Net Assets
Based on the latest financial reports, S. P. Apparels Limited (SPAL) has net assets worth Rs8.92 Billion INR (≈ $96.47 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs15.27 Billion ≈ $165.15 Million USD) and total liabilities (Rs6.35 Billion ≈ $68.67 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check SPAL asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs8.92 Billion |
| % of Total Assets | 58.42% |
| Annual Growth Rate | 23.53% |
| 5-Year Change | 53.99% |
| 10-Year Change | 570.33% |
| Growth Volatility | 50.36 |
S. P. Apparels Limited - Net Assets Trend (2011–2025)
This chart illustrates how S. P. Apparels Limited's net assets have evolved over time, based on quarterly financial data. Also explore how large is S. P. Apparels Limited's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for S. P. Apparels Limited (2011–2025)
The table below shows the annual net assets of S. P. Apparels Limited from 2011 to 2025. For live valuation and market cap data, see S. P. Apparels Limited stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs8.50 Billion ≈ $91.92 Million |
+12.25% |
| 2024-03-31 | Rs7.57 Billion ≈ $81.89 Million |
+13.50% |
| 2023-03-31 | Rs6.67 Billion ≈ $72.15 Million |
+5.68% |
| 2022-03-31 | Rs6.31 Billion ≈ $68.27 Million |
+14.37% |
| 2021-03-31 | Rs5.52 Billion ≈ $59.69 Million |
+6.80% |
| 2020-03-31 | Rs5.17 Billion ≈ $55.89 Million |
+8.24% |
| 2019-03-31 | Rs4.77 Billion ≈ $51.64 Million |
+22.16% |
| 2018-03-31 | Rs3.91 Billion ≈ $42.27 Million |
+2.04% |
| 2017-03-31 | Rs3.83 Billion ≈ $41.43 Million |
+202.13% |
| 2016-03-31 | Rs1.27 Billion ≈ $13.71 Million |
+11.75% |
| 2015-03-31 | Rs1.13 Billion ≈ $12.27 Million |
+26.91% |
| 2014-03-31 | Rs894.08 Million ≈ $9.67 Million |
+18.11% |
| 2013-03-31 | Rs757.01 Million ≈ $8.19 Million |
+2.76% |
| 2012-03-31 | Rs736.70 Million ≈ $7.97 Million |
+67.14% |
| 2011-03-31 | Rs440.77 Million ≈ $4.77 Million |
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Equity Component Analysis
This analysis shows how different components contribute to S. P. Apparels Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 603242000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs6.01 Billion | 70.18% |
| Common Stock | Rs250.93 Million | 2.93% |
| Other Comprehensive Income | Rs37.53 Million | 0.44% |
| Other Components | Rs2.27 Billion | 26.45% |
| Total Equity | Rs8.56 Billion | 100.00% |
S. P. Apparels Limited Competitors by Market Cap
The table below lists competitors of S. P. Apparels Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jai Corp Limited
NSE:JAICORPLTD
|
$220.13 Million |
|
Korea Asset In Trust Co Ltd
KO:123890
|
$220.17 Million |
|
Cathay Chemical Works Inc
TW:1713
|
$220.19 Million |
|
Bank Woori Saudara Indonesia 1906
JK:SDRA
|
$220.39 Million |
|
Evans Bancorp Inc
NYSE MKT:EVBN
|
$220.08 Million |
|
Crane Harbor Acquisition Corp. - Class A Ordinary Shares
NASDAQ:CHAC
|
$220.06 Million |
|
Xingguang Agricultural Mach
SHG:603789
|
$220.05 Million |
|
Chant Sincere Co Ltd
TW:6205
|
$220.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in S. P. Apparels Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,636,420,000 to 8,563,430,000, a change of 927,010,000 (12.1%).
- Net income of 951,020,000 contributed positively to equity growth.
- Share repurchases of 870,000 reduced equity.
- New share issuances of 870,000 increased equity.
- Other comprehensive income decreased equity by 23,550,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs951.02 Million | +11.11% |
| Share Repurchases | Rs870.00K | -0.01% |
| Share Issuances | Rs870.00K | +0.01% |
| Other Comprehensive Income | Rs-23.55 Million | -0.28% |
| Other Changes | Rs-460.00K | -0.01% |
| Total Change | Rs- | 12.14% |
Book Value vs Market Value Analysis
This analysis compares S. P. Apparels Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.38x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 28.48x to 2.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-03-31 | Rs28.48 | Rs811.05 | x |
| 2012-03-31 | Rs46.49 | Rs811.05 | x |
| 2013-03-31 | Rs47.90 | Rs811.05 | x |
| 2014-03-31 | Rs55.04 | Rs811.05 | x |
| 2015-03-31 | Rs69.51 | Rs811.05 | x |
| 2016-03-31 | Rs77.38 | Rs811.05 | x |
| 2017-03-31 | Rs155.06 | Rs811.05 | x |
| 2018-03-31 | Rs157.82 | Rs811.05 | x |
| 2019-03-31 | Rs188.97 | Rs811.05 | x |
| 2020-03-31 | Rs203.65 | Rs811.05 | x |
| 2021-03-31 | Rs217.33 | Rs811.05 | x |
| 2022-03-31 | Rs248.23 | Rs811.05 | x |
| 2023-03-31 | Rs264.24 | Rs811.05 | x |
| 2024-03-31 | Rs304.33 | Rs811.05 | x |
| 2025-03-31 | Rs341.11 | Rs811.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently S. P. Apparels Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.11%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.82%
- • Asset Turnover: 0.96x
- • Equity Multiplier: 1.70x
- Recent ROE (11.11%) is above the historical average (9.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | -4.52% | -0.64% | 0.63x | 11.19x | Rs-69.47 Million |
| 2012 | 12.43% | 2.64% | 0.66x | 7.13x | Rs18.96 Million |
| 2013 | 2.94% | 0.55% | 0.81x | 6.59x | Rs-56.83 Million |
| 2014 | 7.06% | 1.59% | 0.80x | 5.57x | Rs-27.72 Million |
| 2015 | 7.22% | 1.82% | 0.88x | 4.49x | Rs-33.14 Million |
| 2016 | 14.18% | 3.53% | 0.95x | 4.23x | Rs55.45 Million |
| 2017 | 13.74% | 8.47% | 0.93x | 1.75x | Rs145.79 Million |
| 2018 | 12.04% | 7.22% | 0.82x | 2.04x | Rs80.93 Million |
| 2019 | 15.16% | 8.88% | 0.93x | 1.83x | Rs249.86 Million |
| 2020 | 8.97% | 6.15% | 0.86x | 1.71x | Rs-54.03 Million |
| 2021 | 7.73% | 6.83% | 0.69x | 1.63x | Rs-126.66 Million |
| 2022 | 13.28% | 10.30% | 0.77x | 1.66x | Rs209.16 Million |
| 2023 | 12.25% | 8.03% | 0.94x | 1.63x | Rs151.51 Million |
| 2024 | 11.74% | 8.69% | 0.90x | 1.49x | Rs132.61 Million |
| 2025 | 11.11% | 6.82% | 0.96x | 1.70x | Rs94.68 Million |
Industry Comparison
This section compares S. P. Apparels Limited's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $6,932,596,010
- Average return on equity (ROE) among peers: 6.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| S. P. Apparels Limited (SPAL) | Rs8.92 Billion | -4.52% | 0.71x | $220.09 Million |
| Aditya Birla Fashion and Retail Limited (ABFRL) | $26.76 Billion | -25.13% | 2.80x | $844.53 Million |
| Arvind Fashions Limited (ARVINDFASN) | $11.47 Billion | 1.13% | 1.77x | $640.27 Million |
| Bang Overseas Limited (BANG) | $890.93 Million | 0.13% | 0.79x | $5.59 Million |
| Bhandari Hosiery Exports Limited (BHANDARI) | $635.94 Million | 7.79% | 1.70x | $8.15 Million |
| Cantabil Retail India Limited (CANTABIL) | $788.50 Million | -41.69% | 0.59x | $218.77 Million |
| Dollar Industries Limited (DOLLAR) | $5.37 Billion | 15.89% | 0.56x | $183.89 Million |
| Future Lifestyle Fashions Limited (FLFL) | $16.00 Billion | 1.16% | 1.47x | $155.41 |
| Gokaldas Exports Limited (GOKEX) | $7.08 Billion | 16.53% | 0.71x | $557.37 Million |
| Iris Clothings Limited (IRISDOREME) | $321.65 Million | 12.25% | 1.54x | $66.58 Million |
| Nandani Creation Limited (JAIPURKURT) | $5.90 Million | 76.90% | 8.00x | $6.06 Million |
About S. P. Apparels Limited
S.P. Apparels Limited, together with its subsidiaries, manufactures and exports knitted garments for infants and children in India and internationally. The company offers yarns, fabrics, and cotton waste products under the Angel & Rocket brand, as well as dyeing, embroidery, and printing services. It also engages in the manufacture, distribution, marketing, and retail sale of menswear garments un… Read more