The evidence is mixed3 supporting, 4 against, 2 worth knowing
Supporting
matches profit that turns into cash, which has beaten the market by +2.73 points over 20 sessions across 9,184 past signals
4 of the scans it matches have a positive measured record
revenue grew 368% year on year in the quarter ending 31 March 2026
Against
trading 1% below its 200-day average
down 29% over twelve months
1 of the scans it matches has historically underperformed the market
net margin has narrowed from 8.3% to 5.0% across four quarters
Worth knowing
the 50-day and 200-day averages disagree, which usually means a turn in progress rather than a trend to lean on
the 5 scans it matches come from only 2 families — one signal wearing several hats rather than several signals
What would change this read: a close back above 70, its 200-day average.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.
What is working, what is not
from the filings and from the price, with the figure behind every line
Working3
Revenue rose 367.8% year on year, from Rs 125 cr to Rs 584 cr.
+367.8%Rs 125 crRs 584 cr
Net margin improved from -19.4% to 5.0%.
-19.4%5.0%
Operating cash flow was Rs 395 cr against Rs 166 cr profit, which is 239% of it.
Rs 395 crRs 166 cr239%
Needs watching5
Trading 1.2% below its 200-day average.
-1.2%
28% below its 52-week high.
-28%
Down 29.4% over the past year.
-29.4%
A warning rule fires on it tonight: lost the 200-day line.
Lost the 200-day line
Only Rs 2.9 crore changes hands on a median day. A large order moves this price by itself.
Rs 2.9 cr
Every figure here is computed — from the company’s own filings, or from its own closing prices. Wording of 3 of these 3 filing lines was drafted by a language model, which is given the figures and may not introduce another — any sentence containing a number that did not come from the filings is discarded before it reaches this page.
How it has performed
price return over each window, beside the median NSE stock over the same days
What the scans say today
5 of 47 matched on 10 Sep
SPIC matches 5 of the 47 scans today, across 2 different kinds of evidence. Note how few kinds of evidence that is: several scans in one family are one signal wearing several hats, not several signals.
Return on capital uses profit before tax over equity plus borrowings. The textbook version adds finance costs back; those are not tagged reliably in quarterly filings, so this understates the ratio for a heavily borrowed company rather than flattering it. Balance sheets are filed half-yearly, so these can be up to six months behind the profit figures above.
Valuation against its own history
500 sessions since 26 September 2024
8×
median 14×
18×
now 9×
SPIC trades at 9× trailing earnings, below its median of 14× over this window — 40% less expensive than usual. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.
Dividend filings were typically +0.16pt vs the market over the next 5 sessions (n=940) · AGM / EGM filings were typically +0.17pt vs the market over the next 5 sessions (n=8,423) · Results filings were typically -0.51pt vs the market over the next 5 sessions (n=7,726)
The business
from the company’s filed results
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.
Going for it
revenue grew 368% against the same quarter a year earlier
net margin widened from 4.7% to 5.0%
revenue rose in 3 of the last 4 quarters
Going against it
profit dropped 222% year on year
Quarter-by-quarter numbers, as filed
Quarter
Revenue
Profit before tax
Net profit
EPS
Net margin
Q4 FY26
31 Mar · consolidated
584
42
29
1.45
5.0%
Q3 FY25
31 Dec · consolidated
818
55
38
1.89
4.7%
Q2 FY25
30 Sep · consolidated
760
48
35
1.73
4.6%
Q1 FY25
30 Jun · consolidated
754
79
63
6.14
8.3%
Q4 FY24
31 Mar · consolidated
125
-44
-24
-1.19
-19.4%
Q3 FY24
31 Dec · consolidated
506
47
33
1.78
6.6%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.
Where the price stands
the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average+2.0%
Versus 200-day average-1.2%
Below 52-week high-28.3%
Above 52-week low+25.0%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)55.3
Higher closes in last 52 of 5
Six-month return+10.32%
Risk and liquidity
What a position costs to hold and to exit. Position sizing starts with the daily swing, not with conviction.
Typical daily swing (ATR)2.86%
Volume versus 20-day0.8x
Median daily turnoverRs 2.9 cr
Recent sessions
what this stock has matched since the engine went live
This is the live record, not the backtest — the scans this stock actually appeared in on each stored session. A name that keeps reappearing is in a persistent condition; a one-day appearance usually is not.
Session
Scans
Which
10 Sep
1
Consistently growing and profitable
9 Sep
1
Consistently growing and profitable
8 Sep
2
Breaking out of a tight range, Consistently growing and profitable
7 Sep
1
Consistently growing and profitable
4 Sep
2
Breaking out of a tight range, Consistently growing and profitable
3 Sep
2
Breaking out of a tight range, Consistently growing and profitable