Unlisted Shares
Spray Engineering Devices Unlisted Shares
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Spray Engineering Devices Unlisted Shares
Spray Engineering Devices Limited is engaged in providing engineering solutions in spray drying, evaporation, and heat transfer technologies. The company caters to industries such as food processing, dairy, chemicals, and pharmaceuticals, offering customized process solutions and turnkey projects.
Share Details
| company Name | Spray Engineering Devices Unlisted Shares |
| indicative Unlisted Share Price | ₹335 |
| market Capitalization | ₹472 Crore |
| lot Size | 100 |
| 52 Week High | ₹425 |
| 52 Week Low | ₹188 |
| face Value | ₹10 |
| book Value | 85.71 |
| pe Ratio | 31.46 |
| pb Ratio | 2.19 |
| debt To Equity | 0.39 |
| return On Equity | 7.31 |
| total Outstanding Shares | 25096423 |
| isin | INE52B01015 |
| depository | NSDL & CDSL |
| pan | AAICS6520M |
| cin | U30000CH2004PLC027625 |
| rta | Link Intime |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 214 | 392 | 547 | 461 |
| EBITDA | 21 | 54 | 87 | 39 |
| PBT | 15 | 45 | 74 | 20 |
| Net Profit / Loss (PAT) | 15 | 33 | 53 | 15 |
| EPS | 6.69 | 14.71 | 23.56 | 5.98 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Operating Profit Margin (%) | 9.81 | 13.78 | 15.9 | 8.46 |
| Net Profit Margin (%) | 7.01 | 8.42 | 9.69 | 3.25 |
| Earning Per Share (Diluted) | 6.69 | 14.71 | 23.56 | 5.98 |
Financial Annual Report Summary
The company has shown growth in revenue and profitability until FY24, followed by a sharp decline in FY25. Margins have compressed significantly, indicating cyclical or project-based business volatility.
Why Invest in Spray Engineering Devices
- Strong growth till FY24 followed by sharp decline in FY25.
- Cyclical/project-based revenue pattern.
- Moderate leverage (D/E ~0.39).
- Low ROE (~7%) indicates limited capital efficiency.
- Valuation (P/E ~31) seems high for volatile earnings.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 26 | 54 | 76 | 99 |
| CWIP | 1 | 13 | 13 | 13 |
| Investments | 0 | 0.26 | 0.4 | 0.5 |
| Trade Receivables | 43 | 60 | 87 | 114 |
| Inventory | 66 | 78 | 76 | 114 |
| Other Assets | 48 | 58.74 | 49.6 | 79.5 |
| Total Assets | 184 | 264 | 302 | 420 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 22.43 | 22.43 | 22.5 | 25.09 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 16 | 49 | 101 | 180 |
| Borrowings | 19 | 58 | 75 | 80 |
| Trade Payables | 32 | 39 | 56 | 42 |
| Other Liabilities | 94.57 | 95.57 | 47.5 | 92.91 |
| Total Liabilities | 184 | 264 | 302 | 420 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
Growing assets with increasing working capital and moderate debt levels.
Liabilities Breakdown
Debt to Equity ratio of 0.39 indicates moderate leverage.
Additional Insights
Rising receivables and inventory suggest working capital-heavy operations.
Cash Flow Insights
- Negative operating cash flow in recent years.
- Heavy investment outflows.
- Reliance on financing increasing.
Shareholding Pattern
Recent
Promoter: High
Institutional: Low
Public: Low
Promoters & Management
Promoter-led engineering company with expertise in process technologies.
Key Management
Not Available
Registrar & Transfer Agent (RTA)
Registrar: Link Intime
Website: https://linkintime.co.in/
Management Analysis
Focused on expanding engineering solutions across food, pharma, and chemical industries.
Frequently Asked Questions About Spray Engineering Devices Unlisted Shares
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