Key Metrics of SPL Industries Limited
About SPL Industries Limited
Company details
- Listed
- NSE: SPLIL · ₹27.59
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 31 Dec 2019 | CARE | Other | — | — | — | — | View |
| 22 Oct 2018 | CARE | Reaffirmed | BBB- | A3 | Stable | ₹12.8 Cr | View |
| 16 Aug 2017 | CARE | Assigned | BBB- | A3 | Stable | ₹26.3 Cr | View |
Credit strengths (CARE, Oct 2018)
+ Experienced and resourceful promoters with long track record of operations
SPL was incorporated in 1991 and is a part of Shivalik Prints Limited group. The group is promoted by Mr. Vijay Jindal who has more than 2 decade of experience in the apparel industry. Further, the chairman and managing director of the company Mr. Mukesh Aggarwal; has been associated with the company since its inception has approximately 22 years of expertise in this field. The promoters are also assisted by a team of qualified professionals having vast experience in the
+ Improved operational performance
The company is engaged in trading of garments and job work (stitching and dying) for Shivalik Prints Limited. In FY18, SPL has enhanced its job work capacity from 7200 MTPA to 9000 MTPA in order to meet higher demand in future from Shivalik Prints which has resulted in higher operating income from it with Rs. 56.28 cr being generated in FY18 as compared to Rs. 37.27 cr in FY17. The cost of the project was ~Rs. 4 cr. Till Aug’17, the company was primarily engaged in the manufacturing of garments;
+ Comfortable capital structure with low overall gearing
The total operating income of the company has improved to Rs. 176.67 cr in FY18 from Rs. 155.53 cr in FY17 due to repeated orders from its clients. The profitability margins have improved with PBILDT margin at 6.09% (PY: 4.56%) and PAT margin at 3.05% (PY: 0.93%) due to selective order processing by the company. The company has changed its policy and is now focusing on those orders wherein the margins are high. The debt coverage ratio has also improved with overall
Credit challenges
− Currently, India’s exports are mainly directed to the traditional markets
US and EU and now, with these regions turning into matured markets, the growth in apparel imports is expected to slow down.
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Bank Facilities | Working capital & bank lines | — | ₹2.34 Cr | — | BBB- (Stable) | Reaffirmed | CARE |
| Short term Bank Facilities – Packing Credit | Working capital & bank lines | — | ₹10.0 Cr | — | A3 | Reaffirmed | CARE |
| Short term Bank Facilities – Bank Guarantee | Non-fund based limits | — | ₹50.0 L | — | A3 | Assigned | CARE |
CARE ratings on record (checked 22 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Bank Guarantee | — | Withdrawn |
| EPC/PSC | — | Withdrawn |
| Term Loan | — | Withdrawn |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 41% |
| Information on file | 67% · missing: Capex / investment plans, Auditor details, Recent rating review (last 15 months) |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 41% chance the next rating action is stable or better
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.