Stock Price Movement and Market Context
On 24 Nov 2025, Sprayking's share price touched Rs.1.81, the lowest level recorded in the past year and also an all-time low for the company. This price point reflects a notable drop compared to its 52-week high of Rs.6.33. The stock's performance today showed a decline of 1.06%, underperforming its sector by 0.93%. This contrasts with the broader market, where the Sensex opened 88.12 points higher and was trading at 85,369.59, a 0.16% gain. The Sensex is currently 0.51% away from its own 52-week high of 85,801.70 and has been on a three-week consecutive rise, gaining 2.59% over that period.
Sprayking's share price is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating sustained downward momentum. This contrasts with the Sensex, which is trading above its 50-day moving average, with the 50 DMA positioned above the 200 DMA, a configuration often associated with bullish market conditions.
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Comparative Performance Over One Year
Over the last twelve months, Sprayking's stock has recorded a return of -67.73%, a stark contrast to the Sensex's positive return of 7.90% and the BSE500 index's 6.66% gain. This significant underperformance highlights the challenges faced by the company in maintaining investor confidence and market value.
Financial Metrics and Valuation Insights
Sprayking's long-term financial trajectory shows a compound annual growth rate (CAGR) of -0.19% in operating profits over the past five years, indicating a slight contraction in earnings before interest and taxes. The company's ability to service debt is constrained, with a Debt to EBITDA ratio of 3.73 times, suggesting a relatively high leverage position compared to typical industry standards.
Despite these concerns, some financial indicators present a more nuanced picture. The company reported its highest quarterly PBDIT at Rs.5.63 crores and an operating profit to net sales ratio of 28.64% in the same period. Additionally, profit before tax excluding other income reached Rs.4.04 crores, reflecting pockets of operational profitability.
Sprayking's return on capital employed (ROCE) stands at 9.1%, which is considered attractive within its sector. The enterprise value to capital employed ratio is 1, indicating a valuation that is modest relative to the capital base. The stock is trading at a discount compared to its peers' average historical valuations, which may reflect market caution given the company's recent performance.
Interestingly, while the stock price has declined by over two-thirds in the past year, the company's profits have risen by 56.3% during the same period. This divergence between profit growth and share price movement is underscored by a PEG ratio of 0.1, suggesting that the market valuation does not currently reflect the recent profit expansion.
Shareholding Pattern and Market Position
The majority of Sprayking's shares are held by non-institutional investors, which may influence the stock's liquidity and trading dynamics. The company operates within the Other Industrial Products industry and sector, a segment that has seen mixed performance amid broader market trends.
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Summary of Market and Company Dynamics
Sprayking's recent decline to Rs.1.81 marks a critical juncture for the stock, reflecting a combination of subdued long-term growth, elevated leverage, and market sentiment that contrasts with the broader positive trends seen in the Sensex and other indices. The stock's position below all major moving averages signals continued pressure, while its valuation metrics suggest the market is pricing in significant risk factors.
While the company has demonstrated some improvement in profitability metrics, this has not translated into share price gains, indicating a disconnect between operational results and market valuation. The stock's discount relative to peers and its low PEG ratio highlight this disparity.
Investors and market participants will likely continue to monitor Sprayking's financial disclosures and market movements closely as the stock navigates this low price territory.
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