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Spectrum Electrical Industries Limited
(SPECTRUM)
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Rating:63Neutral
Price Target:
₹4,053.00
▲(88.52% Upside)
Action:Reiterated
Date:09/22/26
The score is driven mainly by strong operating performance and a clear bullish price trend, but it is held back by persistently negative free cash flow, increased leverage, and a very high P/E that leaves limited room for execution missteps.
Positive Factors
Revenue and Margin Growth
The combination of sharp revenue acceleration and steadily expanding operating and net margins indicates stronger scale economics and improving earnings capacity. If maintained, this trajectory can strengthen the company’s competitive position and fund continued expansion over the next several quarters.
Negative Factors
Rising Leverage
The substantial debt build alongside rapid growth increases the company’s sensitivity to execution setbacks and weaker cash conversion. Higher leverage can absorb more operating cash through financing obligations, reducing flexibility to fund expansion or manage periods of slower performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Growth
The combination of sharp revenue acceleration and steadily expanding operating and net margins indicates stronger scale economics and improving earnings capacity. If maintained, this trajectory can strengthen the company’s competitive position and fund continued expansion over the next several quarters.
Read all positive factors
Spectrum Electrical Industries Limited (SPECTRUM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹59.80B
Dividend Yield0.19%
Average Volume (3M)4.52K
Price to Earnings (P/E)105.7
Beta (1Y)-1.06
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees1,949
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)36.59
Shares Outstanding15,713,840
10 Day Avg. Volume827
30 Day Avg. Volume4,522
Financial Highlights & Ratios
PEG Ratio0.74
Price to Book (P/B)9.82
Price to Sales (P/S)4.56
P/FCF Ratio-41.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Spectrum Electrical Industries Limited Business Overview & Revenue Model
Company Description
Spectrum Electrical Industries Limited, established in 2008 and based in Mumbai, India, is engaged in the design, production, and sale of components for the electrical, automotive, and irrigation sectors throughout India. Their comprehensive produ...
Spectrum Electrical Industries Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.80B | 5.26B | 3.86B | 3.14B | 2.53B | 2.51B |
| Gross Profit | 1.88B | 1.30B | 999.04M | 777.40M | 721.16M | 582.83M |
| EBITDA | 1.07B | 797.11M | 578.57M | 465.58M | 278.62M | 260.32M |
| Net Income | 574.51M | 444.19M | 256.09M | 194.18M | 84.50M | 76.51M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.68B | 4.45B | 3.18B | 2.53B | 2.18B |
| Cash, Cash Equivalents and Short-Term Investments | 332.41M | 347.69M | 45.02M | 118.08M | 212.82M | 147.47M |
| Total Debt | 0.00 | 2.49B | 2.14B | 943.68M | 1.03B | 786.82M |
| Total Liabilities | -2.45B | 4.23B | 2.54B | 1.53B | 1.65B | 1.34B |
| Stockholders Equity | 2.45B | 2.44B | 1.90B | 1.65B | 878.15M | 833.88M |
Cash Flow | ||||||
| Free Cash Flow | -42.42M | -582.65M | -875.01M | -146.76M | -120.94M | -11.71M |
| Operating Cash Flow | 208.61M | 844.40M | -263.11M | 41.73M | 18.52M | 210.93M |
| Investing Cash Flow | -205.01M | -1.39B | -527.63M | -378.22M | -91.52M | -227.78M |
| Financing Cash Flow | -3.60M | 602.28M | 717.68M | 368.06M | 136.94M | -45.60M |
Spectrum Electrical Industries Limited Technical Analysis
Positive
2149.95
Price Trends
2625.28
Positive
2164.95
Positive
1717.69
Positive
Market Momentum
363.68
Negative
77.43
Negative
88.70
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SPECTRUM, the sentiment is Positive. The current price of 2149.95 is below the 20-day moving average (MA) of 3116.10, below the 50-day MA of 2625.28, and above the 200-day MA of 1717.69, indicating a bullish trend. The MACD of 363.68 indicates Negative momentum. The RSI at 77.43 is Negative, neither overbought nor oversold. The STOCH value of 88.70 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SPECTRUM.
Spectrum Electrical Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹35.59B | 35.80 | ― | 0.30% | 21.99% | 28.73% | |
63 Neutral | ₹59.80B | 105.68 | ― | 0.19% | ― | ― | |
58 Neutral | ₹23.39B | 20.89 | ― | 1.69% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹17.11B | 18.90 | ― | 0.38% | 14.96% | -4.12% | |
49 Neutral | ₹21.01B | -7.90 | ― | ― | 55.63% | -13.55% | |
48 Neutral | ₹15.56B | 41.33 | ― | 0.03% | 7.40% | 14.85% |
* General Sector Average
IN:SPECTRUM
Spectrum Electrical Industries Limited
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2,495.75
190.57%
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Spectrum Electrical Industries Limited Corporate Events
Spectrum Electrical Industries Reports Voting Outcomes of 18th AGM
Oct 2, 2026
Spectrum Electrical Industries Limited, an electrical components and engineering company based in Jalgaon, Maharashtra, is listed on NSE and BSE under the symbol SPECTRUM and script code 544386. The firm operates under India’s corporate and ...
Spectrum Electrical Industries Gains NSE, BSE Nod for Preferential Share Listing
Oct 1, 2026
Spectrum Electrical Industries Limited has received listing approval from NSE and BSE for 1,373,625 fully paid equity shares with a face value of ₹10 each, issued at ₹2,002 per share on a preferential basis. The new shares, once credit...
Spectrum Electrical Industries Announces Trading Window Closure Ahead of Q2 Results
Sep 27, 2026
Spectrum Electrical Industries Limited has announced that it will close its trading window for dealing in the company’s securities from October 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its own code of...
Spectrum Electrical Parks Rs 287.5 Crore Preferential Issue Proceeds in Interim Investments
Sep 20, 2026
Spectrum Electrical Industries Limited has approved the temporary interim investment of about Rs 287.5 crore in unutilized proceeds raised through a preferential issue, ensuring these funds are parked in low-risk money market instruments, liquid a...
Spectrum Electrical Industries Publishes Q1 FY27 Unaudited Results in Line with SEBI Norms
Aug 15, 2026
Spectrum Electrical Industries Limited has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at a board meeting held on August 13, 2026. The decision underscores routine financial disclosure ...
Spectrum Electrical Reappoints Cost and Internal Auditors for FY 2026-27
Aug 13, 2026
Spectrum Electrical Industries Limited has reappointed M/s Kolhe Associates as Cost Auditor and M/s Sonawane MOR and Company as Internal Auditor for the 2026-27 financial year, effective 13 August 2026. The move is in line with statutory requirem...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.