SPAL
S. P. Apparels Limited
Each stock's 10,000-path forecast, rendered as light.
S. P. Apparels Limited (SPAL) Stock Analysis & Case Study
Is SPAL a good buy? The data-driven verdict.
S. P. Apparels Limited (SPAL) trades at ₹1,037,on the numbers it tread carefully, a Downstox Snapshot Score of 34/100.
On the numbers, S. P. Apparels Limited (SPAL) tread carefully, a Downstox Snapshot Score of 34/100, weighing premium at 25.8× earnings, ROE of 11.2%, a 49% model probability of trading higher in a year. Below: the full bull case, bear case, sector-relative valuation, and a probability-weighted price target for 2027-2031.
Last updated . Data snapshot for research, not investment advice.
SPAL fundamentals at a glance, PE, PB, ROE, ROCE, market cap, dividend yield
How SPAL ranks against the 2,373 companies in our screener
- SPAL's market cap of 2,606 Cr ranks in the 55th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's book value of ₹376 ranks in the 85th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's promoter holding of 61.8% ranks in the 55th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's 3-year profit (PAT) growth of 7.0% ranks in the 38th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's 3-year revenue growth of 13.0% ranks in the 58th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's debt-to-equity ratio of 0.44x is lower than 40% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
Is SPAL overvalued? SPAL P/E vs peers
SPAL trades at 25.8× earnings. We don't have a verified sector peer group for this stock yet, so no sector peer median or peer comparison table is shown here. Showing one anyway would compare it against an arbitrary set of large-cap names, not real sector peers.
SPAL share price target 2027, 2028, 2029, 2030, 2031, a probability view
Unlike a single guessed number, this is a probability-weighted range from a 10,000-path Monte-Carlo simulation on 9.8y of SPAL history (13%/yr drift, 53%/yr volatility).
| Year | Low (P10) | Median target (P50) | High (P90) | Upside vs today |
|---|---|---|---|---|
| SPAL 2027 | ₹516 | ₹1,022 | ₹2,025 | -1% |
| SPAL 2028 | ₹389 | ₹1,008 | ₹2,612 | -3% |
| SPAL 2029 | ₹310 | ₹995 | ₹3,188 | -4% |
| SPAL 2030 | ₹253 | ₹981 | ₹3,809 | -5% |
| SPAL 2031 | ₹216 | ₹968 | ₹4,338 | -7% |
Median (P50) is the central estimate; the P10-P90 band is the 80% confidence range. Probabilities, not promises.
What is the probability SPAL goes up, or doubles?
The bull case for SPAL
- S. P. Apparels Limited is part of the nifty500 universe with live, tracked fundamentals on Downstox.
- Upside scenario: the model's optimistic (P90) 3-year path reaches ₹3,188.
The bear case & risks
- SPAL's P/E of 25.8x is lower than 52% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- SPAL's return on equity of 11.2% ranks in the 56th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- High historical volatility (53%/yr) means a wide, bumpy range of outcomes, size positions accordingly.
- Downside scenario: the model's pessimistic (P10) 3-year path falls to ₹310.
SPAL volatility & expected range, how bumpy is the ride?
Over the last 9.8 years SPAL compounded at 13%/year with annualized volatility of 53%. That volatility implies a 1-year 80% range of ₹516-₹2,025, the honest backbone behind any single price target.
SPAL price forecast, the full 60-month probability fan
SPAL price probability fan
Each band shows where 10,000 simulated paths land. The wider the fan, the more uncertainty.
Probability of key outcomes
What are the odds SPAL hits common targets within the simulated horizon?
Full multi-horizon detail on the SPAL price target & forecast page.
SPAL Piotroski F-Score: 6/8, how financially strong is it?
The Piotroski F-Score grades financial strength on profitability, leverage and efficiency checks. Downstox scores the eight checks it can verify from published filings, so 8 is full marks. SPAL scores 6/8, mixed financial health.
SPAL MTF margin & leverage across 9 brokers
Margin Trading Facility lets you buy SPAL with part of the capital. Lower margin % = higher leverage. Rates compared across 9 brokers (no competitor publishes this):
| Broker | Margin required | Approx. leverage |
|---|---|---|
| Upstox | 39.19% | 2.6× |
| ZerodhaCHEAPEST | 39.16% | 2.6× |
| Groww | 39.23% | 2.5× |
| DhanCHEAPEST | 39.16% | 2.6× |
| Kotak Neo | 100.00% | 1.0× |
| Paytm Money | 40.22% | 2.5× |
| Pocketful | 39.17% | 2.6× |
| Anand RathiCHEAPEST | 39.16% | 2.6× |
| Share India | 39.17% | 2.6× |
Compare every broker on the SPAL MTF page.
About S. P. Apparels Limited: sector, index & market-cap context
S. P. Apparels Limited (SPAL) is a small-cap NSE-listed company, with a market capitalisation of ₹2,606 Cr. See more stocks on our screener.
How the SPAL Snapshot Score & forecast are built
The Downstox Snapshot Score is a transparent, rules-based read of S. P. Apparels Limited's public fundamentals plus a statistical forecast, not an analyst opinion. It rewards low-to-fair valuation, high ROE/ROCE, a strong Piotroski F-Score, a dividend, low volatility and a favourable probability of upside; it penalises rich valuations, weak capital efficiency, a low F-Score and high volatility. The price target is a 10,000-path Monte-Carlo simulation on real historical volatility, a distribution, not a single guess. The bull and bear cases are generated from the same data, so you always see both sides.
This is information, not investment advice. Do your own due diligence and consult a SEBI-registered adviser before investing.
SPAL analysis, FAQs
Is S. P. Apparels Limited (SPAL) a good buy?
On the numbers, S. P. Apparels Limited (SPAL) tread carefully, a Downstox Snapshot Score of 34/100, weighing premium at 25.8× earnings, ROE of 11.2%, a 49% model probability of trading higher in a year. This is a data snapshot for research, not investment advice.
Is SPAL overvalued or undervalued?
SPAL trades at 25.8× earnings, premium versus the ~22× long-run Nifty average.
What is the SPAL share price target for 2031?
SPAL's probability-weighted 2031 median target is ₹968, with an 80% range of ₹216-₹4,338 (10,000-path Monte-Carlo).
What is the probability SPAL doubles in 5 years?
The modelled probability of SPAL reaching ₹2,073 (2×) within 5 years is 26%.
What is the bull case for SPAL?
S. P. Apparels Limited is part of the nifty500 universe with live, tracked fundamentals on Downstox.
What are the risks in SPAL?
SPAL's P/E of 25.8x is lower than 52% of the 2,373 NSE companies in our screener, as of 9 Aug 2026. SPAL's return on equity of 11.2% ranks in the 56th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026. High historical volatility (53%/yr) means a wide, bumpy range of outcomes, size positions accordingly.