Speb Adhesives Limited (NSE: SPEB)
Source: Speb Adhesives Limited Annual Report FY 2025-26 (Fiscal Year Ended March 31, 2026)
📋 Quick Facts: Company Snapshot
| Attribute | Disclosed Detail |
|---|---|
| Official Company Name | Speb Adhesives Limited (Formerly known as SPEB Adhesives Private Limited) |
| Corporate Identity Number (CIN) | L99999MH1990PLC058873 |
| NSE Symbol & BSE Scrip Code | NSE: SPEB |
| Date of Incorporation / Founding Year | Incorporated November 7, 1990 (Traces origins to 1972) |
| Founders / Key Promoter Figures | Kirtikumar Kanayalal Vithlani and Harish Kanayalal Vithlani |
| Registered Office & Corporate Headquarters | Plot No. J 33, MIDC, Taloja, Raigad, Panvel, Maharashtra – 410208, India |
| Telephone & Investor Relations Contact | Phone: +91 7738532223 | Email: cs@speb7.com / info@speb7.com |
| Chairman / Managing Director & KMPs | Kirtikumar Kanayalal Vithlani (Chairman & Whole Time Director), Gaurav Kirti Vithlani (Managing Director) |
| Chief Financial Officer (CFO) & Company Secretary (CS) | Anilkumar Dahyalal Pandya (CFO), Monika Dhawan (Company Secretary & Compliance Officer) |
| Promoter & Holding Group | Vithlani Family (Promoter & Promoter Group: Kirtikumar K. Vithlani, Harish K. Vithlani, Gaurav K. Vithlani, Bhaumik H. Vithlani) |
| Industry / Sector Classification | Specialty Adhesives & Industrial Chemicals (Synthetic Rubber & Water-Based Formulations) |
| Total Employees / Permanent Workforce | 36 Permanent Employees (as of March 31, 2026) |
| Manufacturing Plants / Operating Infrastructure | 1 Existing Facility at Taloja, MIDC, Raigad (Maharashtra); 1 Under-Development Facility at Khalapur, Raigad (Maharashtra); 1 Corporate Office Unit at Vashi, Navi Mumbai |
| Geographic Reach | Domestic: 12+ States across India (450+ Active Customers); International: Gulf Cooperation Council (GCC) Region |
| Statutory Auditors | M/s. CVK & Associates, Chartered Accountants (Firm Reg No: 101745W) |
| Registrar and Share Transfer Agent (RTA) | MUFG Intime India Private Limited |
🏢 The Corporate Identity: Who They Are & Where They Came From
The Big Picture
Speb Adhesives Limited is an established Indian specialty adhesives manufacturer specializing in synthetic rubber-based and water-based adhesive formulations. Tracing its operational heritage back to 1972, the company has built technical formulation capabilities, operating out of its primary manufacturing facility at Taloja in MIDC, Raigad, Maharashtra. Speb Adhesives serves a broad range of industrial sectors, including foam and furnishing, ducting and HVAC insulation, woodworking, footwear, automotive interiors, wallpaper, flooring, and generator sets.
The financial year 2025–26 marked a key corporate milestone for Speb Adhesives Limited as it completed its Initial Public Offering (IPO) on the SME Platform of the National Stock Exchange of India Limited (NSE Emerge). The company issued equity shares to transition from a promoter-led closely held enterprise into a publicly listed corporate entity, raising growth capital to fund infrastructure expansion and product diversification.
The Founders, Promoters & Their Legacy
The company was originally incorporated as SPEB Adhesives Private Limited on November 7, 1990, under the Companies Act, 1956, building upon industrial foundation work started by its promoters in 1972. The operational leadership of the firm has been guided by the Vithlani family, led by executive leaders Kirtikumar Kanayalal Vithlani and Harish Kanayalal Vithlani, alongside second-generation leaders Gaurav Kirti Vithlani and Bhaumik Harish Vithlani.
Over four decades, the promoter group built a product portfolio anchored around its flagship synthetic rubber adhesive brand, SPEB-7, expanding the firm’s reach across both business-to-business (B2B) OEM clients and dealer-distributor networks throughout Western India and adjacent regional markets.
The Journey: History & Evolution
The historical evolution of Speb Adhesives Limited reflects a structured transition from small-scale adhesive compounding to specialized chemical manufacturing:
- 1972: Inception of the original adhesive formulation operations that established the technical foundation for synthetic rubber bonding.
- 1990: Formal corporate incorporation as SPEB Adhesives Private Limited on November 7, 1990, in Maharashtra.
- 2024: Capital restructuring executed on November 4, 2024, subdividing the face value of equity shares from ₹100 to ₹10 per share. On January 28, 2025, the company capitalized its general reserves to issue 1,74,42,450 bonus equity shares of ₹10 each in the ratio of 415:4.
- 2025: Conversion of the company’s corporate status from a Private Limited company to Speb Adhesives Limited. The company successfully executed its Initial Public Offering (IPO) of 60,24,000 equity shares of ₹10 each at an offer price of ₹56 per share (including a share premium of ₹46 per share), aggregating to ₹33.73 Crores. The issue was open from December 01, 2025, to December 03, 2025, oversubscribed by 2.34 times, and officially listed on NSE Emerge on December 08, 2025.
- 2026: Acquisition of dedicated office premises spread across Units 1603, 1604, and 1605 at Level 23, Vashi, Navi Mumbai, for an aggregate consideration of ₹6.65 Crores, alongside ongoing phase-wise construction of a new manufacturing plant at Khalapur, Maharashtra.
The Corporate Umbrella
During the financial year ended March 31, 2026, Speb Adhesives Limited operated entirely as a standalone operating entity. The company does not have any holding company, subsidiary, joint venture, or associate company, and accordingly, standalone financial statements represent its complete corporate perimeter.
⚙️ The Business Engine: What They Do & Where They Operate
The Core Divisions
Speb Adhesives Limited operates principally in a single primary business segment: the manufacturing and sale of Adhesives. Within this single reportable primary operational framework, the company categorizes its revenues secondary-wise by market geographic location into Domestic Sales and Overseas Sales.
| Segment / Revenue Source | FY 2025-26 Revenue (₹ in Crores) | % Share of Total Revenue (FY 25-26) | FY 2024-25 Revenue (₹ in Crores) | % Share of Total Revenue (FY 24-25) | Latest YoY (%) |
|---|---|---|---|---|---|
| In-House Manufacturing – Solvent-based Adhesives (Domestic) | 46.58 | 92.26% | 41.52 | 92.68% | +12.19% |
| In-House Manufacturing – Solvent-based Adhesives (Export) | 3.00 | 5.93% | 3.18 | 7.10% | -5.66% |
| Contract Manufacturing – Water-Based Adhesives (Domestic) | 0.11 | 0.21% | 0.09 | 0.20% | +22.22% |
| Contract Manufacturing – Water-Based Adhesives (Export) | 0.80 | 1.59% | 0.00 | 0.00% | N/M |
| Other Operating Revenues (Duty Drawback & RoDTEP) | 0.08 | 0.16% | 0.07 | 0.16% | +14.29% |
| Total Revenue from Operations | 50.57 | 100.00% | 44.87 | 100.00% | +12.70% |
The Product & Service Catalog
The technical offerings of Speb Adhesives span over 100 Stock Keeping Units (SKUs) across solvent-based synthetic rubber formulations, water-based adhesives, and imported specialized chemistries catering to specific industrial use-cases:
- Foam & Furnishing Adhesives: Formulated for bonding polyurethane foam, wood, rexine, and leather, widely consumed across sofa, chair, mattress, and upholstery manufacturing.
- Woodworking Adhesives: Solutions designed for plywood, MDF, HDF, furniture, and interior cabinetry. Products include heat-resistant synthetic resin formulations, PURKONE (D4 Grade Adhesives), and hot-melt adhesives.
- HVAC & Chilled-Water Insulation Adhesives: Specialized formulations deployed for bonding acoustic lining, nitrile rubber insulation, glass wool, and ducting sheets in central air conditioning, chilled water piping, and silent generator enclosures.
- Flooring, Carpet & Wallpaper Adhesives: Dedicated application adhesives sold under the Floor Bond and Wall Fix product families for rubber flooring, carpet laying, and vinyl wallpaper installation.
- Automotive Interior Adhesives: Formulations supplied for interior bonding of automobile headliners, door trims, trunks, and seat assembly.
The Names You Know
The company’s commercial portfolio is anchored by its multi-purpose flagship synthetic rubber brand SPEB-7, known in the industrial market for high initial grab strength, heat resistance, and long bonding open time. Additional key commercial product ranges include PURKONE (D4 grade moisture-curing wood adhesives), Floor Bond, and Wall Fix.
Mapping the Domestic & Global Reach
Speb Adhesives Limited serves a customer base spread across 12 Indian states comprising more than 450 active dealer, distributor, and direct B2B industrial customer accounts. The company also exports selected product ranges to international markets, primarily focusing on the Gulf Cooperation Council (GCC) region.
| Geographic Region | FY 2025-26 Sales (₹ in Crores) | % Share (FY 25-26) | FY 2024-25 Sales (₹ in Crores) | % Share (FY 24-25) | Latest YoY (%) |
|---|---|---|---|---|---|
| Domestic (India) | 46.69 | 92.47% | 41.61 | 92.90% | +12.21% |
| Overseas / Exports (GCC & International) | 3.80 | 7.53% | 3.18 | 7.10% | +19.50% |
| Total Gross Sales | 50.49 | 100.00% | 44.79 | 100.00% | +12.73% |
The Brick & Mortar Footprint
The physical industrial asset footprint of Speb Adhesives Limited consists of:
- Taloja Manufacturing Plant (Raigad, Maharashtra): A 2,366 square meter operating facility located at Plot No. J 33, MIDC, Taloja, with an installed production capacity of approximately 3,600 tonnes per annum (12,000 liters per day) dedicated to solvent-based synthetic rubber adhesives.
- Khalapur Growth Project (Raigad, Maharashtra): A newly acquired greenfield expansion site encompassing 16,193 square meters. Phase I is under development to bring water-based adhesive production in-house and expand solvent-based capacities, aiming for a combined installed capacity of 8,550 tonnes per annum upon completion.
- Navi Mumbai Office Premises: Office units 1603, 1604, and 1605 (aggregate 4,570 saleable square meters) on Level 23 of the Level 23 commercial complex in Sector 2, Vashi, Navi Mumbai, acquired for ₹6.65 Crores during FY 2025-26.
📊 The Financial Health: The Numbers Simplified
Earnings, Expenses, & Take-Home Profits
During the financial year ended March 31, 2026, Speb Adhesives Limited achieved total revenues of ₹51.44 Crores, representing a growth of 11.98% compared to ₹45.94 Crores reported in FY 2024-25. Revenue from core product sales crossed the ₹50-Crore threshold to reach ₹50.57 Crores. Profit after tax (PAT) rose by 13.39% from ₹6.05 Crores in FY 2024-25 to ₹6.87 Crores in FY 2025-26.
| Statement of Profit and Loss Line Item (Ind AS Schedule III) | FY 2025-26 (₹ in Crores) | FY 2024-25 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| INCOME | |||
| Revenue from Operations | 50.57 | 44.87 | +12.70% |
| Other Income | 0.87 | 1.07 | -18.69% |
| TOTAL INCOME | 51.44 | 45.94 | +11.97% |
| EXPENSES | |||
| Cost of materials consumed | 32.88 | 30.93 | +6.30% |
| Changes in inventories of finished goods and work-in-progress | (0.24) | 0.14 | N/M |
| Employee benefits expense | 4.42 | 3.31 | +33.53% |
| Finance Cost | 0.00 | 0.00 | N/M |
| Depreciation and amortisation Expense | 0.62 | 0.44 | +40.91% |
| Other Expenses | 4.46 | 2.66 | +67.67% |
| TOTAL EXPENSES | 42.15 | 37.48 | +12.46% |
| Profit before exceptional and extraordinary items and tax | 9.29 | 8.46 | +9.81% |
| Profit Before Tax (PBT) | 9.29 | 8.46 | +9.81% |
| Tax Expense: | |||
| Current Tax (Income Tax) | 2.37 | 2.24 | +5.80% |
| Deferred Tax | 0.00 | 0.17 | -100.00% |
| Short/(Excess) Provision Of Previous Year | 0.06 | 0.00 | N/M |
| Profit After Tax (PAT) | 6.87 | 6.05 | +13.55% |
| Earnings per equity share (Face Value ₹10): | |||
| Basic (in ₹) | 3.59 | 3.44 | +4.36% |
| Diluted (in ₹) | 3.59 | 3.44 | +4.36% |
Assets, Borrowings, & Net Worth
The total balance sheet size of Speb Adhesives Limited expanded significantly from ₹27.27 Crores as of March 31, 2025, to ₹57.97 Crores as of March 31, 2026. This financial expansion was primarily driven by the fresh capital proceeds raised through the SME Initial Public Offer. Shareholders’ Funds expanded from ₹25.36 Crores to ₹55.75 Crores, comprising Paid-Up Share Capital of ₹22.46 Crores and Reserves & Surplus of ₹33.29 Crores.
| Balance Sheet Line Item (Ind AS Schedule III) | As at 31st March, 2026 (₹ in Crores) | As at 31st March, 2025 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| I. EQUITY & LIABILITIES | |||
| (1) Shareholders’ Funds | |||
| (a) Share Capital | 22.46 | 17.61 | +27.54% |
| (b) Reserves and Surplus | 33.29 | 7.75 | +329.55% |
| Total Equity | 55.75 | 25.36 | +119.83% |
| (3) Non-Current Liabilities | |||
| (d) Long Term Provisions | 0.10 | 0.05 | +100.00% |
| (4) Current Liabilities | |||
| (a) Current Borrowings (Short-Term Bank Overdraft) | (0.01) | 0.00 | N/M |
| (b) Trade Payables (Micro and Small Enterprises) | 0.02 | 0.00 | N/M |
| (b) Trade Payables (Other Creditors) | 1.55 | 0.92 | +68.48% |
| (c) Other Current Liabilities | 0.50 | 0.30 | +66.67% |
| (d) Short-Term Provisions | 0.06 | 0.64 | -90.62% |
| Total Current Liabilities | 2.12 | 1.86 | +13.98% |
| TOTAL EQUITY & LIABILITIES | 57.97 | 27.27 | +112.58% |
| II. ASSETS | |||
| (1) Non-Current Assets | |||
| (a) Property, Plant & Equipment | 3.50 | 2.30 | +52.17% |
| (e) Long Term Loans and Advances | 13.02 | 0.01 | +130100.00% |
| (f) Other Non-Current Assets | 0.11 | 0.00 | N/M |
| (2) Current Assets | |||
| (b) Inventories | 3.14 | 2.41 | +30.29% |
| (c) Trade Receivables | 8.04 | 6.86 | +17.20% |
| (d) Cash and Cash Equivalents | 29.67 | 14.80 | +100.47% |
| (e) Short-Term Loans and Advances | 0.42 | 0.36 | +16.67% |
| (f) Other Current Assets | 0.06 | 0.54 | -88.89% |
| Total Current Assets | 41.34 | 24.96 | +65.62% |
| TOTAL ASSETS | 57.97 | 27.27 | +112.58% |
Cash Flow: Tracking the Money Movement
In FY 2025-26, Net Cash Generated from Operating Activities stood at ₹4.74 Crores compared to ₹6.56 Crores in FY 2024-25. The cash outflow towards Investing Activities reached ₹10.51 Crores, dominated by long-term capital advances of ₹12.93 Crores deployed for property and land purchases. Net Cashflow from Financing Activities stood at ₹24.03 Crores, reflecting net IPO equity proceeds of ₹27.18 Crores offset by IPO-related transaction costs of ₹3.14 Crores.
| Cash Flow Statement Activity | FY 2025-26 (₹ in Crores) | FY 2024-25 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| A. CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net Profit before tax for the period | 9.29 | 8.46 | +9.81% |
| Operating Profit before Working Capital Changes | 9.15 | 8.10 | +12.96% |
| Cash Generated From Operations | 726.39 | 880.10 | -17.47% |
| Less : Taxes Paid | (2.52) | (2.24) | +12.50% |
| Net Cash from Operating Activities | 4.74 | 6.56 | -27.74% |
| B. CASHFLOW FROM INVESTING ACTIVITIES | |||
| Purchase of Property, Plant and Equipment (CapEx) | (1.82) | (0.86) | +111.63% |
| Sale of Fixed Assets | 0.00 | 0.50 | -100.00% |
| Capital Advances Paid | (12.93) | 0.00 | N/M |
| Interest Received | 0.84 | 0.67 | +25.37% |
| Maturity of Fixed Deposits | 3.40 | 0.00 | N/M |
| Investment in Fixed Deposits | 0.00 | (6.45) | -100.00% |
| Net Cashflow From Investing Activities (II) | (10.51) | (6.14) | +71.17% |
| C. CASHFLOW FROM FINANCING ACTIVITIES | |||
| Excess Repayment of Bank Overdraft | (0.01) | 0.00 | N/M |
| Fresh Issue of Shares (IPO Proceeds) | 2,718.24 | 0.00 | N/M |
| IPO Related Expenses | (3.14) | (0.52) | +503.85% |
| Net Cashflow From Financing Activities (III) | 24.03 | (0.52) | N/M |
| NET INCREASE/(DECREASE) IN CASH (I + II + III) | 18.27 | (0.10) | N/M |
| Opening Cash and Cash Equivalents | 2.64 | 2.74 | -3.65% |
| Closing Cash and Cash Equivalents | 20.91 | 2.64 | +692.05% |
Funding the Future: CapEx, CWIP & R&D Spending
Speb Adhesives deployed significant capital during FY 2025-26 toward infrastructure growth initiatives funded through IPO proceeds and internal accruals:
- Direct Plant & Equipment Additions: The company committed ₹1.82 Crores in physical property additions, including factory machinery (₹1.78 Crores), building sheds, electrical installations, and computers.
- Long-Term Capital Advances: Capital advances expanded to ₹13.02 Crores, comprising ₹3.94 Crores for land acquisition at Khalapur (plus ₹0.79 Crores stamp duty and ₹0.08 Crores professional fees) and ₹7.61 Crores for corporate office premises at Vashi (plus ₹0.47 Crores stamp duty).
- Research & Development Focus: Product formulation spending remained integrated within internal operating costs, focusing on water-based, low-VOC formulations, SBS/polychloroprene rubber systems, and D4-grade moisture-cured woodworking adhesives.
🗺️ The Corporate Family Tree: Structure & Investments
Subsidiaries, Associates, & Joint Ventures (Form AOC-1)
Speb Adhesives Limited does not have any subsidiary, associate, or joint venture companies as of March 31, 2026. Consequently, no disclosures are applicable under Section 129(3) of the Companies Act, 2013 (Form AOC-1).
Strategic Investments & Treasury Holdings
The company maintains a zero balance in long-term equity or mutual fund non-current investments. Treasury assets are managed via interest-bearing bank fixed deposits and liquid bank sweep balances. As of March 31, 2026, total bank deposit balances stood at ₹26.78 Crores (comprising ₹18.02 Crores in deposits under 3 months maturity, ₹2.35 Crores in deposits up to 12 months, ₹3.65 Lakhs with government departments, and ₹6.38 Crores in margin money deposits supporting Letter of Credit facilities with Bank of Baroda).
👥 Power & Control: Who Pulls the Strings?
The Brain Trust: Board of Directors & Key Managerial Personnel (KMP)
The governance structure of Speb Adhesives Limited is managed by an 8-member Board of Directors, combining executive promoter expertise with independent leadership in industrial operations, defense manufacturing, and corporate law.
| Name of Director / KMP | Designation / Role | DIN | Category |
|---|---|---|---|
| Kirtikumar Kanayalal Vithlani | Chairman & Whole Time Director | 00816243 | Executive Director (Promoter) |
| Harish Kanayalal Vithlani | Executive Director | 00804161 | Executive Director (Promoter) |
| Gaurav Kirti Vithlani | Managing Director | 00838641 | Executive Director (Promoter) |
| Bhaumik Harish Vithlani | Executive Director | 00838596 | Executive Director (Promoter) |
| Chirag Suresh Shah | Independent Director | 06699216 | Non-Executive Independent Director |
| Dhaval Janak Mehta | Independent Director | 10902102 | Non-Executive Independent Director |
| Kajal Arunkumar Pandya | Independent Director | 02540598 | Non-Executive Independent Director |
| Sartaj Singh | Independent Director | 07913285 | Non-Executive Independent Director |
| Anilkumar Dahyalal Pandya | Chief Financial Officer (CFO) | – | Key Managerial Personnel |
| Monika Dhawan | Company Secretary & Compliance Officer | – | Key Managerial Personnel |
Who Owns the Stock? Shareholding Pattern
Following the SME IPO allotment finalized on December 5, 2025, the total issued equity capital of Speb Adhesives Limited increased to 2,24,64,570 fully paid equity shares of ₹10 each.
| Category of Shareholder | Number of Shares (FY 2025-26) | % Shareholding (FY 2025-26) | Number of Shares (FY 2024-25) | % Shareholding (FY 2024-25) |
|---|---|---|---|---|
| Kirti Kanayalal Vithlani (Promoter) | 47,94,960 | 21.34% | 53,79,960 | 30.55% |
| Harish Kanayalal Vithlani (Promoter) | 47,94,960 | 21.34% | 53,79,960 | 30.55% |
| Gaurav Kirti Vithlani (Promoter) | 34,04,375 | 15.15% | 34,04,375 | 19.33% |
| Bhaumik Harish Vithlani (Promoter) | 34,04,375 | 15.15% | 34,04,375 | 19.33% |
| Total Promoter & Promoter Group | 1,63,98,670 | 73.00% | 1,75,68,670 | 99.76% |
| Compact Structure Fund (Public / Institutional) | 17,66,000 | 7.86% | 0 | 0.00% |
| Other Public Shareholders | 42,99,900 | 19.14% | 41,900 | 0.24% |
| Total Issued Share Capital | 2,24,64,570 | 100.00% | 1,76,10,570 | 100.00% |
🎯 The Strategic Outlook: Future Plans & Potential Pitfalls
Competitive Advantages & Economic Moats
Speb Adhesives Limited relies on several technical and commercial differentiators in the specialty chemical industry:
- Formulation Know-How: Decades of continuous compounding experience in synthetic rubber, SBS, and polychloroprene chemistries providing initial tack and bond longevity across multi-substrate applications.
- Industrial Diversification: A portfolio of 100+ SKUs engineered for specific industrial niches (HVAC insulation, generator silent canopy lining, D4-grade woodworking, and automotive interiors), reducing dependency on any single market segment.
- Established Distributor Ecosystem: Active supply arrangements serving 450+ clients across 12 states, establishing brand recall among regional OEM fabricators and trade shops.
What Could Go Wrong? Key Challenges & Business Risks
Management outlines critical operational and commercial risks that could impact business trajectory:
- Raw Material Price Volatility: Direct input cost exposure to petrochemical derivatives, synthetic rubbers, resins, and solvents (Hexane consumption alone accounted for ₹6.45 Crores and Synthetic Rubber accounted for ₹9.45 Crores in FY 26).
- Execution and Ramping Risk: Scaling risks associated with civil commissioning and commercial production ramp-up at the new 16,193 sq. meter Khalapur plant.
- Environmental and Regulatory Transition: Tightening environmental compliance surrounding VOC emissions and solvent handling, requiring capital allocation toward water-based adhesive technology.
- Working Capital Expansion: Channel expansion into retail and Dealer-to-Retailer (D2R) distribution networks demands disciplined credit monitoring to manage trade receivables.
The Next Chapter: Growth & CapEx Initiatives
The strategic roadmap defined by Speb Adhesives Limited is anchored on five growth vectors:
- In-House Water-Based Manufacturing: Commissioning Phase I of the Khalapur facility to transition water-based woodworking and industrial adhesives from contract manufacturing to in-house production, raising total company manufacturing capacity from 3,600 MTPA to 8,550 MTPA.
- Product Portfolio Expansion: Commercializing adjacent high-margin product lines including epoxy adhesives, specialized cladding adhesives, flooring compounds, and wallpaper fixatives.
- GCC and International Distribution: Expanding market footprint across Gulf Cooperation Council (GCC) countries, building regional stock points, and broadening export-compliant product certifications.
- Retail & D2R Channel Penetration: Strengthening distributor network density across tier-2 and tier-3 Indian urban centers via dedicated digital dealer lead management systems.
The Verdict: Strategic Outlook & Conclusion
Speb Adhesives Limited completed FY 2025–26 with a solid financial base, supported by net equity infusion from its SME IPO listing on NSE Emerge. Crossing ₹50 Crores in operational revenues with a Net Profit after tax of ₹6.87 Crores, the company maintains zero long-term debt and substantial cash reserves. Its success will depend on executing the Khalapur capacity expansion, managing raw material volatility, and scaling its water-based and export product channels.
Note: Financial ratios, margins, YoY growth percentages, and % revenue shares are calculated by IndianCompanies.in based on disclosed Ind AS financial statements.
Official Site: https://www.speb7.com/