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SPL IndustriesNSE:SPLIL -0.50%67 Return-on-Tangible-Equity is 7.34% as of Mar. 2026, which is 18% below its 10-year median of 8.98. GuruFocus rates NSE:SPLIL with a GF Score™ of 67/100 and a GF Value™ of ₹20.72 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,015 Manufacturing - Apparel & Accessories companies, SPL Industries ranks worse than 55.17% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. SPL Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹158.5 Mil. SPL Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹2,160.5 Mil. Therefore, SPL Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 7.34%.
The historical rank and industry rank for SPL Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:SPLIL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.26 Med: 8.98 Max: 32.33
Current: 3.34
During the past 13 years, SPL Industries's highest Return-on-Tangible-Equity was 32.33%. The lowest was 2.26%. And the median was 8.98%.
NSE:SPLIL's Return-on-Tangible-Equity is ranked worse than 55.17% of 1015
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.43
vs NSE:SPLIL: 3.34
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
SPL Industries Return-on-Tangible-Equity Related Terms
SPL Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for SPL Industries's Return-on-Tangible-Equity 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:SPLIL vs RL, LEVI, VFC: Return-on-Tangible-Equity Comparison
For the Apparel Manufacturing subindustry, SPL Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
SPL Industries Return-on-Tangible-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, SPL Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where SPL Industries's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 7.34% mean?
SPL Industries (NSE:SPLIL) has a Return-on-Tangible-Equity of 7.34% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on SPL Industries and its competitors. This is 18% below median its historical median of 8.98. Over the past decade, SPL Industries' Return-on-Tangible-Equity has ranged from 2.26 to 32.33. According to the industry distribution chart, SPL Industries ranks #560 out of 1015 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 55.2%.
Is SPL Industries' Return-on-Tangible-Equity too high?
SPL Industries' current Return-on-Tangible-Equity of 7.34% is 18% below median its 10-year median of 8.98. Over the past 10 years, this metric has ranged from a low of 2.26 to a high of 32.33. The Manufacturing - Apparel & Accessories industry median Return-on-Tangible-Equity is 4.43. SPL Industries' value of 7.34% is 65.7% above this industry median. Based on the distribution chart, SPL Industries ranks #560 out of 1015 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, SPL Industries has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SPL Industries' Return-on-Tangible-Equity compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, SPL Industries ranks #560 out of 1015 companies for Return-on-Tangible-Equity. This places SPL Industries in the lower half of its industry. The industry median Return-on-Tangible-Equity is 4.43. SPL Industries' value of 7.34% is 65.7% above this benchmark. Historically, SPL Industries' own Return-on-Tangible-Equity has ranged from 2.26 to 32.33 over the past decade. While the company's 10-year median is 8.98 vs. the industry median of 4.43, SPL Industries 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 Return-on-Tangible-Equity for a Manufacturing - Apparel & Accessories company?
The median Return-on-Tangible-Equity among Manufacturing - Apparel & Accessories companies is 4.43, based on 1,015 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SPL Industries's current Return-on-Tangible-Equity of 7.34% is 65.7% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on SPL Industries and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Return-on-Tangible-Equity is 4.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPL Industries's current Return-on-Tangible-Equity is 7.34%, which is 18% below median its own 10-year median of 8.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPL Industries stock overvalued right now?
Based on GuruFocus' analysis, SPL Industries (NSE:SPLIL) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹20.72, compared to a current price of ₹31.74 — trading 53.2% above its estimated fair value. The current Return-on-Tangible-Equity is 7.34%, which is 18% below median its 10-year median of 8.98 and 65.7% above the Manufacturing - Apparel & Accessories industry median of 4.43. SPL Industries' overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For SPL Industries (NSE:SPLIL), the current Return-on-Tangible-Equity is 7.34% 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 SPL Industries (NSE:SPLIL) Overvalued in 2026?
Based on GuruFocus' analysis, SPL Industries stock appears to be overvalued.
The current stock price of ₹31.74 is trading 53.2% above its estimated GF Value™ of ₹20.72.
GuruFocus considers SPL Industries to be Significantly Overvalued.
Key valuation signals for NSE:SPLIL:
Return-on-Tangible-Equity: 7.34% (18% below median its 10-year median of 8.98)
GF Value™: ₹20.72 vs. price of ₹31.74 (53.2% above fair value)
Industry Position: 65.7% above the Manufacturing - Apparel & Accessories median (#560 of 1015)
No single metric tells the full story. See the NSE:SPLIL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPL Industries Ltd is engaged in the export of garments. The group undertakes various processing activities, including printing, dyeing, coloring, spinning, weaving, combing, knitting, and bleaching. The company's operating segment includes Manufacturing cotton knitted garments and made ups and Processing Charges and Trading of garments. It generates maximum revenue from the Trading segment. Geographically, the location of customers is carried out throughout India and outside India. It generates the majority of revenue from outside India.
67GF Score
Get the complete analysis for NSE:SPLIL
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