Stock Performance and Market Context
On 8 December 2025, Sprayking’s share price touched Rs.1.75, its lowest level in the past year and an all-time low. This price point reflects a substantial drop from its 52-week high of Rs.6.33, representing a decline of approximately 72.3%. The stock’s performance today showed a day change of -3.12%, underperforming its sector by 0.75%. The sector, Engineering - Industrial Equipment, itself experienced a decline of 2.36% on the same day.
In comparison, the broader market index, Nifty, closed at 25,960.55, down 225.9 points or 0.86%. Despite the market’s overall mild retreat, Sprayking’s share price has been notably weaker, trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This indicates a sustained downward momentum over multiple time frames.
Long-Term Price Trends and Relative Performance
Over the last twelve months, Sprayking’s stock has recorded a negative return of 68.95%, a stark contrast to the Sensex’s positive return of 4.15% and the BSE500’s marginal gain of 0.62%. This divergence highlights the stock’s underperformance relative to both the broader market and its sector peers.
The stock’s decline has been accompanied by a general downturn in small-cap stocks, with the Nifty Small Cap 100 index falling 2.61% on the day, contributing to the pressure on Sprayking’s valuation.
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Financial Metrics and Operational Highlights
Sprayking’s financial data reveals a mixed picture. The company’s operating profit compound annual growth rate (CAGR) over the past five years stands at -0.19%, indicating a slight contraction in operating profits over the medium term. Additionally, the company’s debt servicing capacity is constrained, with a Debt to EBITDA ratio of 3.73 times, suggesting elevated leverage relative to earnings before interest, taxes, depreciation, and amortisation.
Despite these challenges, quarterly figures show some positive trends. The company reported a profit after tax (PAT) of Rs.4.10 crores for the latest quarter, reflecting a growth of 645.5% compared to previous periods. Quarterly PBDIT reached Rs.5.63 crores, the highest recorded, while the operating profit to net sales ratio also peaked at 28.64%. These figures indicate pockets of operational efficiency and profitability improvement in the short term.
Valuation and Capital Efficiency
Sprayking’s return on capital employed (ROCE) is recorded at 9.1%, which is considered attractive within its sector. The enterprise value to capital employed ratio stands at 1, suggesting the stock is trading at a discount relative to its peers’ historical valuations. This valuation metric reflects the market’s current assessment of the company’s capital utilisation and overall worth.
Over the past year, while the stock price has declined by nearly 69%, the company’s profits have risen by 56.3%. This disparity is reflected in a price-to-earnings-growth (PEG) ratio of 0.1, indicating that earnings growth has not been matched by the stock price movement.
Shareholding Pattern and Market Capitalisation
The majority of Sprayking’s shares are held by non-institutional investors, which may influence trading patterns and liquidity. The company’s market capitalisation grade is rated at 4, placing it in a mid-range category in terms of market value within its sector.
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Sector and Market Environment
The Other Industrial Products sector, to which Sprayking belongs, has experienced pressure in recent trading sessions. The engineering and industrial equipment segment has seen declines, reflecting broader economic and market conditions. While the Nifty index remains close to its 52-week high, trading 1.41% below the peak of 26,325.80, the small-cap segment, where Sprayking is categorised, has been a notable drag on market performance.
Sprayking’s trading below all major moving averages suggests that the stock is currently in a downtrend, with limited short-term technical support. This trend aligns with the company’s relative underperformance compared to sector and market benchmarks.
Summary of Key Data Points
To summarise, Sprayking’s stock price has reached Rs.1.75, its lowest level in 52 weeks and all time. The stock has underperformed the Sensex and BSE500 indices over the past year, with a return of -68.95% compared to positive market returns. Financial metrics show a modest contraction in operating profits over five years, elevated debt levels, but recent quarterly profit growth and improved operating margins. Valuation ratios indicate the stock is trading at a discount relative to peers, with a ROCE of 9.1% and an enterprise value to capital employed ratio of 1.
Market conditions in the small-cap segment and the engineering sector have contributed to the stock’s price movement, with Sprayking trading below all key moving averages and underperforming its sector peers.
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