SPELS
SPEL Semiconductor financials
- Market cap
- ₹672 Cr
- Sector
- Capital Goods
Quarterly results
Q4 FY26: revenue down 11.0%, net profit up 109.6% against the same quarter last year.
| Line item | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 1 | 2 | 2 | 2 −9% | 2 +10% | 1 −67% | 2 −11% |
| EBITDA | -1 | -1 | -1 | -3 | -1 +38% | -1 +53% | -2 −136% | 2 +164% |
| Net profit | -4 | -5 | -5 | -8 | -6 −56% | -12 −168% | -7 −36% | 1 +110% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −41.8% 1Y
1Y: ₹250.3 on 8 Sept 2025 → ₹145.65. High ₹250.3 (8 Sept 2025), low ₹122.9 (30 Mar 2026).
Financials, as filed
Revenue fell 47.2% a year over 4 years, FY13 to FY26. Operating margin narrowed to -17.1%.
| Year ending | FY13 | FY14 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | ₹81 Cr | ₹63 Cr | ₹12 Cr | ₹8 Cr | ₹6 Cr |
| Operating profit | ₹11 Cr | ₹15 Cr | ₹-3 Cr | ₹-6 Cr | ₹-1 Cr |
| Operating margin | 14.1% | 23.2% | -21.6% | -72.3% | -17.1% |
| Interest | ₹6 Cr | ₹5 Cr | ₹3 Cr | ₹3 Cr | ₹5 Cr |
| Depreciation | ₹12 Cr | ₹11 Cr | ₹3 Cr | ₹2 Cr | ₹1 Cr |
| Net profit | ₹-5 Cr | ₹0 Cr | ₹-17 Cr | ₹-21 Cr | ₹-24 Cr |
| Net margin | -5.6% | 0.5% | -139.9% | -267.8% | -380.4% |
| Cash from operations | — | — | ₹-9 Cr | ₹-2 Cr | ₹13 Cr |
| Free cash flow | — | — | ₹-1 Cr | ₹-2 Cr | ₹13 Cr |
| ROCE | 0.1% | 4.1% | — | — | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹46 Cr | ₹46 Cr | ₹46 Cr | ₹46 Cr | ₹46 Cr | ₹46 Cr |
| Reserves | ₹26 Cr | ₹7 Cr | ₹3 Cr | ₹-13 Cr | ₹-44 Cr | ₹-43 Cr |
| Borrowings | ₹30 Cr | ₹31 Cr | ₹25 Cr | ₹28 Cr | ₹27 Cr | ₹21 Cr |
| Other liabilities | ₹64 Cr | ₹88 Cr | ₹89 Cr | ₹85 Cr | ₹91 Cr | ₹91 Cr |
| Total liabilities | ₹166 Cr | ₹172 Cr | ₹164 Cr | ₹146 Cr | ₹120 Cr | ₹115 Cr |
| Fixed assets | ₹113 Cr | ₹87 Cr | ₹78 Cr | ₹75 Cr | ₹75 Cr | ₹74 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹54 Cr | ₹85 Cr | ₹86 Cr | ₹71 Cr | ₹45 Cr | ₹41 Cr |
| Total assets | ₹166 Cr | ₹172 Cr | ₹164 Cr | ₹146 Cr | ₹120 Cr | ₹115 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count grew 12% to 1,10,209.
- Promoters
- 59.2%
- FIIs
- 0.0%
- DIIs
- 0.0%
- Public
- 40.8%
Since Jun 2025
- Public +0.01 pp
- Promoters 0.00 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Dec '23: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Mar '24: Promoters 59.2%, FIIs 0.1%, DIIs 0.0%, Public 40.7%.Jun '24: Promoters 59.2%, FIIs 0.1%, DIIs 0.0%, Public 40.7%.Sep '24: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Dec '24: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Mar '25: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Jun '25: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Sep '25: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Dec '25: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Mar '26: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.Jun '26: Promoters 59.2%, FIIs 0.0%, DIIs 0.0%, Public 40.8%.
Who is on the register
Named in the Jun 2026 filing
Every holder of SPEL Semiconductor Ltd. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Natronix Semiconductor Technology Private Limited | 55.97% | unchanged |
| Valli Arun | 2.11% | unchanged |
| Ar Rm Arun | 0.89% | unchanged |
| Vibrant Industries Private Limited | 0.20% | unchanged |
| Ac Muthiah | 0.00% | unchanged |
| Hitesh Ramji Javeri | — | off the list |
| Sharad Kanayalal Shah | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse SPEL Semiconductor Ltd.
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