# Spectrum Electrical Industries share price today (Spectrum Electrical Industries Ltd, NSE: SPECTRUM)

> Spectrum Electrical Industries share price today: ₹4,181.30 at the NSE close on 3 November 2026, up 173.7% in a year. Spectrum Electrical Industries (NSE: SPECTRUM) is worth ₹7,145 crore, trades at a P/E of 142.8 and has closed between ₹1,072.80 and ₹4,181.30 over the past 52 weeks. > Spectrum Electrical Industries Ltd's share price has risen faster than its earnings: +173.7% in a year, against +75.1% for earnings per share. SPECTRUM · Capital Goods - Electric General · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/spectrum-electrical-industries-ltd

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## Key numbers

- Price: ₹4,181.30 (+173.7% in a year)
- P/E: 142.8× (higher than 78% of the last 8.1 years)
- Revenue (Jun 2026): ₹156 Cr (+83.5% on a year ago)
- Profit (Jun 2026): ₹13.0 Cr (+116.7% on a year ago)
- Operating margin: 15.0% (+1.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 12.9%, against a 12.0% cost of capital: +0.9 points
- Profit that came in as cash: 45%, last 3 years

The main question: profits are rising, but only 45% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Spectrum Electrical Industries share price today? Spectrum Electrical Industries Ltd's share price was ₹4,181.30 at the close on 3 November 2026. It has been rising for 20 weeks. That is 83.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,073 and ₹4,181, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 30 weeks in a row. Over the last 8.1 years the share price moved +6,433% while the NIFTY 500 moved +150%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Spectrum Electrical Industries this quarter? 8 points in one quarter, revenue up on a year earlier for 6 quarters in a row (every quarter we can compare) and profit up on a year earlier for 6 quarters in a row (every quarter we can compare). 1. Promoters cut their stake by 5.8 points in one quarter From 72.7% to 66.9% in the September 2026 quarter. 2. Revenue up on a year earlier for 6 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹156 crore, +83.5% on a year earlier. 3. Profit up on a year earlier for 6 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹13 crore, +116.7% on a year earlier. ## What are Spectrum Electrical Industries' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Spectrum Electrical Industries reported revenue of ₹156 crore, up 83.5% from ₹85.0 crore a year earlier, and a profit of ₹13.0 crore, up 116.7% from ₹6.00 crore. ### Spectrum Electrical Industries results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹156 crore | ₹85.0 crore | +83.5% |
| Profit | ₹13.0 crore | ₹6.00 crore | +116.7% |
| Earnings per share | ₹8.46 | ₹3.90 | +116.9% |
| Operating margin | 15.0% | 14.0% | +1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Spectrum Electrical Industries share price history? Spectrum Electrical Industries closed at ₹4,181.30 on 3 November 2026, up 173.7% from ₹1,527.60 a year earlier (31 October 2025) and up 6,868.8% over five years. Its highest weekly close since October 2018 was ₹4,181.30 on 3 November 2026. ### Spectrum Electrical Industries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹3,679.80 | +13.6% |
| 1 month ago · 1 Oct 2026 | ₹3,853.40 | +8.5% |
| 6 months ago · 30 Apr 2026 | ₹1,206.20 | +246.7% |
| 1 year ago · 31 Oct 2025 | ₹1,527.60 | +173.7% |
| 3 years ago · 3 Nov 2023 | ₹1,038.80 | +302.5% |
| 5 years ago · 27 Oct 2021 | ₹60.00 | +6,868.8% |
| Earliest weekly close in our records · 5 Oct 2018 | ₹64.00 | +6,433.3% |
| Highest weekly close since October 2018, also the 52-week high · 3 Nov 2026 | ₹4,181.30 | 0.0% |
| Lowest weekly close since October 2018 · 30 Jul 2021 | ₹48.50 | +8,521.2% |
| 52-week low (weekly close) · 9 Jan 2026 | ₹1,072.80 | +289.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (296 weekly closes from 5 October 2018 to 3 November 2026.)

## What is the latest news on Spectrum Electrical Industries? 3 Nov 2026: Spectrum Electrical Industries closed at ₹4,181.30, up 13.6% on the week and up 8.5% on the month. Our read, 19 Jul 2026: Spectrum is undergoing a massive capacity expansion phase, driving 86% profit growth, but negative free cash flows require monitoring. ### Earlier

- Results for April to June 2026: Revenue up 83.5% and profit up 116.7% on a year earlier. ### Our read of the business

The company delivered 86% on a year earlier profit growth in January to March 2026, supported by 67% revenue growth. A massive capital spending program has driven CWIP to 172 Cr, absorbing operating cash flow and increasing debt. January to March 2026: Growth accelerates with 86% profit jump. (Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does Spectrum Electrical Industries pay? Spectrum Electrical Industries has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. Not in its latest year. Spectrum Electrical Industries Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 3 of its last 11 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What is Spectrum Electrical Industries' order book? Working capital build is seasonal and growth-driven, typical of capital goods order-book billing. ⚠ estimate

(Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Spectrum Electrical Industries story? What are the risks? CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. ### Each change stops working if

- : The new capacity faces commissioning delays or lacks underlying order book support. ### The main risks

- : Aggressive capital spending and working capital build driving negative free cash flow. ✓ fact
- : Margins are at the top of their historical band. ⚠ estimate

(Our read after the January to March 2026 results, written 19 July 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Spectrum Electrical Industries' next results? When Spectrum Electrical Industries reports July to September 2026, these are the 2 checks that show whether the story is still on course. First: Debt continuing to rise without corresponding revenue jumps in FY27. - What to check ()
- Debt continuing to rise without corresponding revenue jumps in FY27. - Operating margin dropping below 13% as input costs rise. ## Which stock lists is Spectrum Electrical Industries on? Spectrum Electrical Industries is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 6805.018942363622](https://www.sectoralpha.in/momentum-stocks-india)

## Is Spectrum Electrical Industries profitable? Spectrum Electrical Industries Ltd earned ₹13.0 Cr of net profit in the Jun 2026 quarter, +116.7% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹43.0 Cr. That is 8.3% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr. For the full year, FY26 profit was ₹43.0 Cr (+79.2% on the year before). Why profit moved: revenue changed +83.5% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +117.6% and revenue +50.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹184 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹156 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much revenue does Spectrum Electrical Industries make, and is it growing? Spectrum Electrical Industries Ltd reported ₹156 Cr of revenue in the Jun 2026 quarter, +83.5% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 73.9% a year on average. The last full year, FY26, came in at ₹505 Cr. The last four reported quarters add to ₹576 Cr. FY26 revenue was ₹505 Cr, +27.2% on the year before. Recent pace: the last four quarters grew +50.9% on average, against 73.9% a year over the longer run, so this year is growing slower than its own long-run rate. FY26-Q4. revenue ₹184 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹156 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Spectrum Electrical Industries keep? Spectrum Electrical Industries Ltd's operating margin was 15.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 11 years it has been between 9.0% and 23.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +1.1 percentage points on the year while gross margin changed −5.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. revenue ₹184 Cr and profit ₹20 Cr as reported. FY27-Q1. revenue ₹156 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## Is Spectrum Electrical Industries' profit turning into cash? Over the last 3 years, 45% of Spectrum Electrical Industries Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹71.0 Cr of operating cash against ₹43.0 Cr of profit. After ₹118 Cr of spending on assets, free cash was −₹47.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 45% of profit came in as cash: the cash cycle got 62 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 6.5× depreciation over three years. The next section checks what that spending is building. ## Where does Spectrum Electrical Industries' cash go? Spectrum Electrical Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 121 days in FY26, down from 183 days in FY21. It spent ₹202 Cr on assets over the last 3 years. Customers take 87 days to pay, and stock sits for 138 days on average. Why this happened. CWIP surged to 172 Cr from 38 Cr, indicating a major brownfield/greenfield expansion phase. At FY26 sales of ₹505 Cr, each day of that cycle ties up about ₹1.4 Cr, so roughly ₹167 Cr is tied up in the business at any time. FY26: customers took 87 days to pay and stock sat for 138 days, about 4.5 months of sales sitting as stock, for a full cycle of 121 days, shorter than FY21's 183. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 138 days. Customers pay about 87 days after that. Suppliers are paid at 104 days. Together that makes the 121-day cycle. Spending on assets: ₹202 Cr over the last 3 years, against ₹31.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹117 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Spectrum Electrical Industries' P/E ratio, and how does it compare with its own history? Spectrum Electrical Industries Ltd's P/E is 142.8×, near the high end of its own history: higher than 78% of past readings. Its usual P/E (the middle reading) is 77.2×, over 8.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹31.82. Why the multiple is where it is: over the past year earnings per share moved +75.1% while the price moved +173.7%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +133.7% a year; about +33.2% a year came from earnings growth and about +100.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Spectrum Electrical Industries share price assume? Worked out from its price on 27 August 2026, Spectrum Electrical Industries Ltd's share price assumed profit growth of about 31.2% a year. Today its P/E is 142.8×, higher than 78% of its own last 8.1 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Spectrum Electrical Industries business getting better or worse? Spectrum Electrical Industries Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 7 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## What is the Spectrum Electrical Industries story, and has it been checked? Spectrum Electrical Industries Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Still open: CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. Our read, 19 July 2026. Spectrum is undergoing a massive capacity expansion phase, driving 86% PAT growth, but negative free cash flows require monitoring. From the numbers. From the price. Price stage 2, week 20, above its 200-day line, relative strength rising. From the research. Spectrum is undergoing a massive capacity expansion phase, driving 86% PAT growth, but negative free cash flows require monitoring. Where they disagree. What is proven. Spectrum is undergoing a massive capacity expansion phase, driving 86% PAT growth, but negative free cash flows require monitoring. What is not proven yet. CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. What would change our mind. CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. The test written in advance. CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. Measured by: the thesis as written as stated by the next result. What the company does. The company delivered 86% YoY PAT growth in Q4 FY26, supported by 67% revenue growth. A massive capex program has driven CWIP to 172 Cr, absorbing operating cash flow and increasing debt. What the surface reading misses. The surface reading is: PAT spike of 50% YoY implies massive acceleration. The research reads it further: Acceleration is genuine and core operating, driven by 17% revenue growth and margin having at 16%, with no material one-offs. What the surface reading misses. The surface reading is: OPM at 16.1% (94th percentile of 10y) looks like a cyclical peak. The research reads it further: Margins are at cycle highs, but supported by robust revenue growth (scale). Normalized OPM is 13.3%. Sources: our stock research file (19 July 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## How much does Spectrum Electrical Industries earn on its capital? Spectrum Electrical Industries Ltd earned a ROCE of 18% in FY26. That is up from a low of 0% in FY12. Its return on capital used (ROIC) is 0.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 8.5% net margin and 0.81× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 8.5% net margin × 0.81× asset turnover × 2.57× leverage (assets divided by equity) ≈ 17.7% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 12.9% − 12.0% = +0.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Spectrum Electrical Industries have too much debt? Spectrum Electrical Industries Ltd has total debt of ₹249 Cr against shareholder equity of ₹245 Cr as of Jun 2026, so its debt is 1.02× its equity. Year by year, that ratio went from 0.95 in FY22 to 1.02 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Spectrum Electrical Industries shareholding pattern? Domestic institutions raised their stake in Spectrum Electrical Industries Ltd by 7.7 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 8.0% of the company. Promoters moved −5.7 points over the same period, to 66.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +7.7 points over 8 quarters, to 8.0%; Promoters: −5.7 points over 8 quarters, to 66.9%; Foreign institutions: +1.0 points over 8 quarters, to 3.5%. Why the owners changed: domestic institutions drove it (+7.7 points), with the other side taken by promoters (−5.7 points). They raised their stake step by step. ## How far is Spectrum Electrical Industries from balance-sheet trouble? For Spectrum Electrical Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Spectrum Electrical Industries rank in its industry? 68.2 out of 100, rank 3 of 19 in Capital Goods - Electric General, with 89% of the evidence available. Spectrum Electrical Industries Ltd scores 68.2 out of 100 against the 19 companies it is compared with in Capital Goods - Electric General, ranking 3. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 24.3 + 17.2 + 6.7 + 20 = 68.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Spectrum Electrical Industries compared with? Spectrum Electrical Industries ranks 3 of 19 Capital Goods - Electric General companies on the 4-Factor Sector Score, with 68.2 out of 100. 1. [Modison Ltd](https://www.sectoralpha.in/stocks/modison-ltd) MODISONLTD · leader · Most evidence points up · 100% evidence 78.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Revenue 84.9% · Profit 100% · Operating margin change -2 points · 100% evidence Capital efficiency 17.1/25 · ROCE 31% · Operating margin 11% · 100% evidence Valuation 15.1/20 · P/E 9.6× · PEG 0.46 · 100% evidence Relative strength 18.7/20 · Lead over its industry 47.3% · Lead over NIFTY 500 46.8% · 1 year 128.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.1 + 17.1 + 15.1 + 18.7 = 78 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Rishabh Instruments Ltd](https://www.sectoralpha.in/stocks/rishabh-instruments-ltd) RISHABH · leader · Most evidence points up · 96% evidence 68.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 5.8% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 16.9/25 · ROCE 14.5% · Operating margin 17% · 100% evidence Valuation 10.8/20 · P/E 30× · PEG 1.24 · 100% evidence Relative strength 16.3/20 · Lead over its industry 22.8% · Lead over NIFTY 500 25.5% · 1 year 52.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.8 + 16.9 + 10.8 + 16.3 = 68.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. Spectrum Electrical Industries Ltd this page SPECTRUM · leader · Most evidence points up · 89% evidence 68.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 40.8% · Profit 92.3% · Operating margin change 1 points · 88% evidence Capital efficiency 17.2/25 · ROCE 17.8% · Operating margin 15% · 100% evidence Valuation 6.7/20 · P/E 135× · PEG 1.9 · 65% evidence Relative strength 20.0/20 · Lead over its industry 119.7% · Lead over NIFTY 500 122.5% · 1 year 158.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.3 + 17.2 + 6.7 + 20 = 68.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Modern Insulators Ltd](https://www.sectoralpha.in/stocks/modern-insulators-ltd) MODINSULAT · turning · Most evidence points up · 78% evidence 68.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.5/35 · Revenue 41.6% · Profit 100% · Operating margin change 8 points · 83% evidence Capital efficiency 18.3/25 · ROCE 19.3% · Operating margin 17% · 76% evidence Valuation 7.7/20 · P/E 22.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry 35.3% · Lead over NIFTY 500 36.4% · 1 year 195.4% · 100% evidence · 4 of 12 weeks ahead Exact sum: 29.5 + 18.3 + 7.7 + 12.6 = 68.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [V-Guard Industries Ltd](https://www.sectoralpha.in/stocks/v-guard-industries-ltd) VGUARD · quiet · Evidence leans up · 100% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 21.5% · Profit 41.7% · Operating margin change 1 points · 100% evidence Capital efficiency 16.1/25 · ROCE 18.4% · Operating margin 9% · 100% evidence Valuation 14.7/20 · P/E 28.7× · PEG 1.12 · 100% evidence Relative strength 7.3/20 · Lead over its industry -12.4% · Lead over NIFTY 500 -7.7% · 1 year -22.7% · 100% evidence · 5 of 12 weeks ahead Exact sum: 24.7 + 16.1 + 14.7 + 7.3 = 62.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Insolation Energy Ltd](https://www.sectoralpha.in/stocks/insolation-energy-ltd) INA · quiet · Evidence leans up · 81% evidence 59.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 81.7% · Profit 45.2% · Operating margin change -6 points · 88% evidence Capital efficiency 16.5/25 · ROCE 22.4% · Operating margin 10% · 100% evidence Valuation 19.5/20 · P/E 7.8× · PEG 0.23 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -36.5% · 1 year -61.5% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.3 + 16.5 + 19.5 + 7.5 = 59.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Alpex Solar Ltd](https://www.sectoralpha.in/stocks/alpex-solar-ltd) ALPEXSOLAR · quiet · Evidence leans up · 64% evidence 57.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 100% · Profit 61.3% · Operating margin change -1 points · 88% evidence Capital efficiency 19.7/25 · ROCE 44.8% · Operating margin 15% · 100% evidence Valuation 11.3/20 · P/E 8.4× · PEG n/a · 15% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -21.8% · 1 year -45% · 25% evidence · 1 of 12 weeks ahead Exact sum: 18.7 + 19.7 + 11.3 + 7.9 = 57.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) RELTD · quiet · Evidence leans up · 79% evidence 54.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.3/35 · Revenue 28.2% · Profit 53% · Operating margin change 14.6 points · 88% evidence Capital efficiency 15.3/25 · ROCE 14.4% · Operating margin 31.8% · 100% evidence Valuation 9.4/20 · P/E 44.7× · PEG n/a · 15% evidence Relative strength 4.1/20 · Lead over its industry -8.7% · Lead over NIFTY 500 -4.4% · 1 year -16.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 25.3 + 15.3 + 9.4 + 4.1 = 54.1 · What this means: Earnings are strong; relative strength in its sector is -8.7% and the one-year return is -16.4%. 9. [IKIO Technologies Ltd](https://www.sectoralpha.in/stocks/ikio-technologies-ltd) IKIO · quiet · Evidence leans up · 78% evidence 53.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 34.5% · Profit 100% · Operating margin change 4 points · 83% evidence Capital efficiency 9.5/25 · ROCE 9.5% · Operating margin 13% · 76% evidence Valuation 13.1/20 · P/E 26.8× · PEG n/a · 50% evidence Relative strength 5.5/20 · Lead over its industry -5.4% · Lead over NIFTY 500 -1.9% · 1 year -22.8% · 100% evidence · 7 of 12 weeks ahead Exact sum: 25.2 + 9.5 + 13.1 + 5.5 = 53.3 · What this means: Earnings are strong; relative strength in its sector is -5.4% and the one-year return is -22.8%. 10. [Siemens Ltd](https://www.sectoralpha.in/stocks/siemens-ltd) SIEMENS · losing its lead · Evidence leans up · 78% evidence 50.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 13.2% · Profit 33.7% · Operating margin change -4 points · 83% evidence Capital efficiency 17.2/25 · ROCE 21.4% · Operating margin 9% · 76% evidence Valuation 5.5/20 · P/E 78.2× · PEG n/a · 50% evidence Relative strength 8.8/20 · Lead over its industry -4.2% · Lead over NIFTY 500 -0.3% · 1 year 6.7% · 100% evidence · 7 of 12 weeks ahead Exact sum: 19.3 + 17.2 + 5.5 + 8.8 = 50.8 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [Swelect Energy Systems Ltd](https://www.sectoralpha.in/stocks/swelect-energy-systems-ltd) SWELECTES · turning · Evidence leans down · 89% evidence 48.9 out of 100 Growth Capital Valuation Relative
12. [HPL Electric & Power Ltd](https://www.sectoralpha.in/stocks/hpl-electric-power-ltd) HPL · quiet · Evidence leans down · 81% evidence 48.3 out of 100 Growth Capital Valuation Relative
13. [Kirloskar Electric Company Ltd](https://www.sectoralpha.in/stocks/kirloskar-electric-company-ltd) KECL · quiet · Evidence leans down · 79% evidence 43.3 out of 100 Growth Capital Valuation Relative
14. [Salzer Electronics Ltd](https://www.sectoralpha.in/stocks/salzer-electronics-ltd) SALZERELEC · quiet · Evidence leans down · 81% evidence 41.4 out of 100 Growth Capital Valuation Relative
15. [Servotech Renewable Power System Ltd](https://www.sectoralpha.in/stocks/servotech-renewable-power-system-ltd) SERVOTECH · basing · Evidence leans down · 78% evidence 39.7 out of 100 Growth Capital Valuation Relative
16. [Honda India Power Products Ltd](https://www.sectoralpha.in/stocks/honda-india-power-products-ltd) HONDAPOWER · quiet · Evidence leans down · 81% evidence 39.4 out of 100 Growth Capital Valuation Relative
17. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) EXICOM · quiet · Evidence leans down · 68% evidence 38.9 out of 100 Growth Capital Valuation Relative
18. [Focus Lighting & Fixtures Ltd](https://www.sectoralpha.in/stocks/focus-lighting-fixtures-ltd) FOCUS · Most evidence points down · 69% evidence 24.4 out of 100 Growth Capital Valuation Relative
19. [Igarashi Motors India Ltd](https://www.sectoralpha.in/stocks/igarashi-motors-india-ltd) IGARASHI · quiet · Most evidence points down · 89% evidence 23.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Electric General](https://www.sectoralpha.in/sectors/capital-goods-electric-general), all 19 compared on one page. ## Which companies are close to Spectrum Electrical Industries in size? Spectrum Electrical Industries is the 3rd largest of 19 Capital Goods - Electric General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Siemens and V-Guard Industries. Just below it: Ravindra Energy, Rishabh Instruments, Honda India Power Products and Exicom Tele-Systems. ### Capital Goods - Electric General companies close in size

1. [Siemens Ltd](https://www.sectoralpha.in/stocks/siemens-ltd) ₹1,17,627 crore
2. [V-Guard Industries Ltd](https://www.sectoralpha.in/stocks/v-guard-industries-ltd) ₹12,247 crore
3. Spectrum Electrical Industries Ltd ₹6,757 crore
4. [Ravindra Energy Ltd](https://www.sectoralpha.in/stocks/ravindra-energy-ltd) ₹2,671 crore
5. [Rishabh Instruments Ltd](https://www.sectoralpha.in/stocks/rishabh-instruments-ltd) ₹2,424 crore
6. [Honda India Power Products Ltd](https://www.sectoralpha.in/stocks/honda-india-power-products-ltd) ₹1,777 crore
7. [Exicom Tele-Systems Ltd](https://www.sectoralpha.in/stocks/exicom-tele-systems-ltd) ₹1,740 crore

[All 19 Capital Goods - Electric General companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-electric-general#all-companies)

### Companies close in size in other industries

1. [ISGEC Heavy Engineering Ltd](https://www.sectoralpha.in/stocks/isgec-heavy-engineering-ltd) ₹6,762 crore · Infra - Engineering - General
2. [Mishra Dhatu Nigam Ltd](https://www.sectoralpha.in/stocks/mishra-dhatu-nigam-ltd) ₹6,758 crore · Aerospace & Defence - Equipments
3. Spectrum Electrical Industries Ltd ₹6,757 crore
4. [Transport Corporation of India Ltd](https://www.sectoralpha.in/stocks/transport-corporation-of-india-ltd) ₹6,745 crore · Logistics
5. [India Shelter Finance Corporation Ltd](https://www.sectoralpha.in/stocks/india-shelter-finance-corporation-ltd) ₹6,726 crore · Finance - Housing

## What else do people ask about Spectrum Electrical Industries? ### What is Spectrum Electrical Industries's share price today? Spectrum Electrical Industries Ltd's share price is ₹4,181.30, +173.7% over the past year. The whole company is worth ₹7,145 Cr on the market. It is at its highest price of the past 52 weeks (range ₹1,073 to ₹4,181), 83.0% above its 200-day average. The price has been rising for 20 weeks (as of 3 November 2026). ### What were Spectrum Electrical Industries's latest quarterly results? Spectrum Electrical Industries Ltd reported revenue of ₹156 Cr and net profit of ₹13.0 Cr for the Jun 2026 quarter. Revenue rose 83.5% and profit rose 116.7% compared with a year earlier. Earnings per share were ₹8.46. The operating margin was 15.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Spectrum Electrical Industries's market cap? Spectrum Electrical Industries Ltd's market capitalisation is ₹7,145 Cr at a share price of ₹4,181.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Spectrum Electrical Industries performing? Spectrum Electrical Industries Ltd's share price has been rising for 20 weeks. In its latest quarter, revenue rose 83.5% and profit rose 116.7% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 30 weeks running (as of 3 November 2026). ### Will Spectrum Electrical Industries's share price go up? This page does not forecast Spectrum Electrical Industries Ltd's share price. What it shows instead: the share price is ₹4,181.30, and it has been rising for 20 weeks. Its P/E of 142.8× is higher than 78% of its own last 8 years (as of 3 November 2026). ### Who owns Spectrum Electrical Industries? Promoters own 66.9% of Spectrum Electrical Industries Ltd, foreign institutions 3.5%, domestic institutions 8.0% and the public 21.6% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 7.7 percentage points over 8 quarters (as of 3 November 2026). ### Does Spectrum Electrical Industries have too much debt? Spectrum Electrical Industries Ltd has a moderate amount of debt: its debt is 0.88× its equity, and its operating profit is 5 times its interest bill. FY26 borrowings were ₹214 Cr against equity of ₹242 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Spectrum Electrical Industries in its business cycle? Spectrum Electrical Industries Ltd's FY26 operating margin was 15.0%, against a 11-year range of 9.0% to 23.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 15.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Spectrum Electrical Industries story? The main question: profits are rising, but only 45% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Spectrum Electrical Industries a stock worth studying right now? What the numbers show: Spectrum Electrical Industries Ltd's share price has risen faster than its earnings: +173.7% in a year, against +75.1% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Spectrum Electrical Industries share price forecast for 2026? What would change the story: CWIP failing to convert to fixed assets and revenue in FY27, turning the capacity expansion into a debt trap. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

This is research, not advice. We’re not SEBI-registered.