Spray Engineering Devices Unlisted Shares
Spray Engineering Devices makes evaporators, MVR systems and other machinery for sugar mills and allied industries from Mohali, Punjab. Consolidated revenue for FY25 was ₹4,609.71 million.
Read the full company profileSpray Engineering Devices share details
- Lot size
- 500 shares
- Min. investment
- ₹42,000
- Face value
- ₹10
- Implied market cap
- ₹211 Cr
- Shares outstanding
- 25,096,423
- Headquarters
- Mohali, Punjab
- Website
- sprayengineering.com
- ISIN
- INE528I01015
- CIN
- U00000CH2004PLC027625
- Lock-in after IPO
- 6 months
Spray Engineering Devices share price chart
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About Spray Engineering Devices
Strengths
- Consolidated total equity rose to ₹2,050.31 million at 31 March 2025 from ₹1,212.79 million a year earlier, so the balance sheet is larger than before.
- The company stayed profitable in a weaker year, with consolidated profit after tax of ₹150.20 million in FY25.
- Revenue is spread across sugar machinery and Low Temperature Evaporator/MVR systems, plus erection and commissioning work, as the directors' report describes.
- Consolidated EBITDA (profit before finance costs, depreciation and tax) was ₹396.24 million in FY25, still positive after a sharp fall from ₹891.56 million.
- The group has two subsidiaries and one associate, giving it a fabrication arm and a sugar engineering associate alongside the main business.
Risks
- Consolidated revenue fell to ₹4,609.71 million in FY25 from ₹5,473.45 million in FY24, so demand or project timing can swing sharply.
- Consolidated profit after tax dropped to ₹150.20 million from ₹531.55 million, and EPS fell to ₹5.95 from ₹23.19.
- Finance costs rose to ₹114.50 million from ₹98.91 million even as revenue fell, which squeezes profit.
- Business depends on the sugar industry and its capital spending, which is cyclical and tied to government policy.
- Several bank loans are backed by personal guarantees of the promoter directors, which links company finances to the promoters.
- Mr. Prateek Verma resigned as Wholetime Director and the Chief Financial Officer changed during 2025, which means recent management churn.
- Unlisted shares trade off-market with no exchange price discovery, so the indicative price of ₹84 may differ from actual deal prices and exits can be slow.
Spray Engineering Devices financial performance
Revenue, profit and balance-sheet figures by fiscal year.
| Metric | FY25Latest | FY24 |
|---|---|---|
| Revenue (₹ Cr) | 461 | 547 |
| EBITDA (₹ Cr) | 39.62 | 89.16 |
| PAT (₹ Cr) | 15.02 | 53.16 |
| EBITDA Margin (%) | 8.59 | 16.29 |
| PAT Margin (%) | 3.26 | 9.71 |
| RoNW (%) | 7.33 | 43.83 |
| EPS (₹) | 5.95 | 23.19 |
| Total Assets (₹ Cr) | 420 | 302 |
| Net Worth (₹ Cr) | 205 | 121 |
Swipe the table sideways for earlier years →
Management team
Buy or sell Spray Engineering Devices unlisted shares
Get a live quote on WhatsApp in under 60 seconds. Current price ₹84.00. Shares are delivered to your own demat in 24–48 hours, never to a custodian.
Indicative off-market price, not an exchange quote. Read the disclaimer.
Spray Engineering Devices unlisted shares: common questions
Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
