S.P. ApparelsNSE:SPAL -4.41%88 Days Payable is 70.91 as of Mar. 2026, which is 17% below its 10-year median of 85.11. GuruFocus rates NSE:SPAL with a GF Score™ of 88/100 and a GF Value™ of ₹933.20 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,018 Manufacturing - Apparel & Accessories companies, S.P. Apparels ranks better than 60.71% on this metric.
The historical rank and industry rank for S.P. Apparels's Days Payable or its related term are showing as below:
NSE:SPAL'
s Days Payable Range Over the Past 10 Years
Min: 67.6 Med: 85.11 Max: 105.37
Current: 67.6
During the past 12 years, S.P. Apparels's highest Days Payable was 105.37. The lowest was 67.60. And the median was 85.11.
NSE:SPAL's Days Payable is ranked better than 60.71% of 1018
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 54.045
vs NSE:SPAL: 67.60
S.P. Apparels's Days Payable
increased
from Mar. 2025 (68.96) to Mar. 2026 (70.91).
It may suggest that S.P. Apparelsdelayed paying its suppliers.
S.P. Apparels Days Payable Related Terms
S.P. Apparels Days Payable Historical Data
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The historical data trend for S.P. Apparels's Days Payable can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:SPAL vs RL, LEVI, VFC: Days Payable Comparison
For the Apparel Manufacturing subindustry, S.P. Apparels's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
S.P. Apparels Days Payable vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, S.P. Apparels's Days Payable distribution charts can be found below:
* The bar in red indicates where S.P. Apparels's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
S.P. Apparels's Days Payable for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
S.P. Apparels (NSE:SPAL) has a Days Payable of 70.91 as of Mar. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on S.P. Apparels and its competitors. This is 17% below median its historical median of 85.11. Over the past decade, S.P. Apparels' Days Payable has ranged from 67.60 to 105.37. According to the industry distribution chart, S.P. Apparels ranks #400 out of 1018 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 39.3%.
Is S.P. Apparels' Days Payable too high?
S.P. Apparels' current Days Payable of 70.91 is 17% below median its 10-year median of 85.11. Over the past 10 years, this metric has ranged from a low of 67.60 to a high of 105.37. The Manufacturing - Apparel & Accessories industry median Days Payable is 54.05. S.P. Apparels' value of 70.91 is 31.2% above this industry median. Based on the distribution chart, S.P. Apparels ranks #400 out of 1018 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, S.P. Apparels has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does S.P. Apparels' Days Payable compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, S.P. Apparels ranks #400 out of 1018 companies for Days Payable. This puts S.P. Apparels in the upper half of its industry. The industry median Days Payable is 54.05. S.P. Apparels' value of 70.91 is 31.2% above this benchmark. Historically, S.P. Apparels' own Days Payable has ranged from 67.60 to 105.37 over the past decade. While the company's 10-year median is 85.11 vs. the industry median of 54.05, S.P. Apparels has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a Manufacturing - Apparel & Accessories company?
The median Days Payable among Manufacturing - Apparel & Accessories companies is 54.05, based on 1,018 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. S.P. Apparels's current Days Payable of 70.91 is 31.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on S.P. Apparels and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Days Payable is 54.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. S.P. Apparels's current Days Payable is 70.91, which is 17% below median its own 10-year median of 85.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is S.P. Apparels stock overvalued right now?
Based on GuruFocus' analysis, S.P. Apparels (NSE:SPAL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹933.20, compared to a current price of ₹1,051.40 — trading 12.7% above its estimated fair value. The current Days Payable is 70.91, which is 17% below median its 10-year median of 85.11 and 31.2% above the Manufacturing - Apparel & Accessories industry median of 54.05. S.P. Apparels' overall GF Score™ is 88/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For S.P. Apparels (NSE:SPAL), the current Days Payable is 70.91 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is S.P. Apparels (NSE:SPAL) Overvalued in 2026?
Based on GuruFocus' analysis, S.P. Apparels stock appears to be overvalued.
The current stock price of ₹1,051.40 is trading 12.7% above its estimated GF Value™ of ₹933.20.
GuruFocus considers S.P. Apparels to be Modestly Overvalued.
Key valuation signals for NSE:SPAL:
Days Payable: 70.91 (17% below median its 10-year median of 85.11)
GF Value™: ₹933.20 vs. price of ₹1,051.40 (12.7% above fair value)
Industry Position: 31.2% above the Manufacturing - Apparel & Accessories median (#400 of 1018)
No single metric tells the full story. See the NSE:SPAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
S.P. Apparels Ltd is an India-based company engaged in the business of manufacturing and exporting knitted garments for infants and children. Geographically, it derives a majority of revenue from Outside India. Its product categories include the Garment division and Retail division. The company manufactures and retails menswear garments under the brand Crocodile.
88GF Score
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