During the latest quarter, SP Apparels reported net sales reaching ₹427.34 crores, marking the highest quarterly figure recorded by the company. Correspondingly, the operating profit to net sales ratio stood at 14.89%, also the highest for the period, indicating a favourable margin profile. The PBDIT for the quarter was ₹63.65 crores, while profit before tax excluding other income was ₹40.01 crores. Net profit after tax reached ₹34.71 crores, with earnings per share at ₹13.84, both representing peak quarterly outcomes.
On the operational front, the company’s return on capital employed (ROCE) for the half-year period was 14.54%, the highest recorded, signalling efficient utilisation of capital resources. Additionally, the debtors turnover ratio for the half-year was 6.87 times, reflecting effective management of receivables. However, the debt-equity ratio for the half-year was at 0.45 times, the highest level noted, and interest expenses for the latest six months amounted to ₹22.10 crores, showing a growth rate of 26.43%, which may warrant attention from investors monitoring financial leverage and cost of debt.
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SP Apparels’ stock price closed at ₹815.05, down by 1.58% from the previous close of ₹828.10 on the day of reporting. The stock’s 52-week high and low prices are ₹994.85 and ₹610.05 respectively, with intraday trading ranging between ₹805.00 and ₹834.65. These price movements reflect some volatility amid the company’s evolving financial narrative.
When compared to the broader market, SP Apparels’ returns present a mixed picture. Over the past week and month, the stock outperformed the Sensex with returns of 15.06% and 17.69% respectively, against Sensex gains of 0.96% and 0.86%. However, year-to-date and one-year returns for SP Apparels were negative at -11.25% and -1.44%, contrasting with Sensex returns of 8.36% and 9.48%. Over longer horizons, the stock has delivered substantial cumulative returns, with 3-year and 5-year returns at 121.84% and 458.64%, significantly exceeding the Sensex’s 37.31% and 91.65% over the same periods.
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In summary, SP Apparels’ recent quarterly results indicate a positive adjustment in its financial trend, with record levels in sales, profitability, and operational efficiency metrics. The company’s leverage and interest costs have also shifted, reflecting changes in its capital structure and financing expenses. Investors may consider these factors alongside the stock’s price volatility and comparative returns against the Sensex when evaluating the company’s position within the Garments & Apparels sector.
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