Spice Islands (526827) — Financial Results

Investor Takeaways

Revenue of ₹4.61 Cr in Q3FY11 showed a decline compared to previous quarters, with OPM at 4.99% and EPS at [amount not verified]- The company reported a procedural delay in filing unaudited Q1 FY2026 results due to accounting clarifications, with board meeting rescheduled from August 14 to August 19.

Peer comparison shows Spice Islands Industries has a lower P/E (14.95) than Adani Enterprises (45.56) and Adani Ports (29.17), but higher ROE (19.83%) and ROCE (24.09%) than all peers.

Overall Tone: Neutral based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹4.61 Cr	N/A
Net Profit	₹0.27 Cr	N/A
EBITDA	N/A	N/A
EPS	[amount context mismatch]	N/A
OPM	4.99%	N/A

What Changed

The filing confirms a delay in submitting unaudited financial results for the quarter ended June 30, 2026, due to the need for additional accounting clarifications. The board meeting initially scheduled for August 14 was adjourned to August 19 to finalize the results. The company stated the delay was procedural and not intentional, and it regrets the lapse in timely disclosure. No financial figures for the current quarter were provided in the filing, and the quarterly trend data reflects historical performance from FY11, which is not comparable to current reporting periods. The company emphasized it will ensure timely disclosures going forward.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Spice Islands Industries Ltd	14.95	19.83%	24.09%	60.21
Adani Enterprises Ltd	45.56	9.07%	10.88%	397452.96
Adani Ports & SEZ Ltd	29.17	13.67%	13.37%	393746.61
Interglobe Aviation Ltd	N/A	-68.97%	17.66%	192555.43

Spice Islands Industries demonstrates stronger returns on equity and capital compared to its peers, though its valuation multiples are lower than Adani Enterprises and Adani Ports.

Risks & Concerns

The delay in financial reporting raises concerns about internal controls and compliance timelines.

No specific risks were identified in the filing beyond the procedural delay.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY11	4.61	0.27	4.99
Q2FY11	5.31	0.42	6.03
Q1FY11	2.55	0.45	15.29
Q3FY10	7.09	1.09	19.18

The quarterly trend shows fluctuating profitability, with peak OPM in Q3FY10 at 19.18% and declining revenue and profit margins in subsequent quarters. The data reflects historical performance and does not represent current reporting periods.

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About Spice Islands Industries Ltd (526827)

Services · Diversified · Listed on BSE

Market Cap: ₹57.22 Cr P/E: 14.2 ROE: 19.8% ROCE: 24.1%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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Spice Islands Industries Ltd (526827) — Financial Results | 5 September 2026