Spray Engineering Devices Unlisted Shares Share Price
About The Company
Spray Engineering Devices Unlisted Shares Unlisted Shares
Financials · IPO timeline · Growth projects
Strong
Market Position
Consistent
YoY Growth
Experienced
Management
Key Indicators
A snapshot of Spray Engineering Devices Unlisted Shares's financial health, valuation multiples and capital efficiency at a glance.
Pricing Trends
Financial Performance
| Indicators | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 461.8 | 548.2 | 394.7 | 216.1 | 111.5 |
| Expense | 422.2 | 459.2 | 335.9 | 193.2 | 98.4 |
| EBITDA | 39.6 | 89.0 | 58.8 | 22.9 | 13.1 |
| Other Cost | 19.1 | 14.7 | 11.9 | 7.5 | 8.4 |
| PBT | 20.6 | 74.3 | 46.9 | 15.4 | 4.7 |
| Tax Expense | 5.5 | 21.2 | 12.2 | 0.1 | 0.0 |
| PAT | 15.0 | 53.1 | 34.7 | 15.3 | 4.7 |
| Other Inc./Exp. | 0.3 | -0.8 | -0.4 | 0.0 | -0.1 |
| Net Income | 14.7 | 52.3 | 34.3 | 15.3 | 4.6 |
| Shares O/S | 2.51 | 2.30 | 2.30 | 2.20 | 2.20 |
| EPS (₹) | 5.95 | 23.20 | 15.20 | 6.80 | 2.10 |
| Rev. Growth % | -15.8% | 38.9% | 82.6% | 93.8% | — |
| EBITDA Mgn % | 8.6% | 16.2% | 14.9% | 10.6% | 11.7% |
| Net Mgn % | 3.2% | 9.5% | 8.7% | 7.1% | 4.1% |
| EPS Growth | -74.4% | 52.6% | 123.5% | 223.8% | — |
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Spray Engineering Devices Unlisted Shares Unlisted Shares
About Spray Engineering Devices Unlisted Shares
A) Spray Engineering Devices Limited provides Engineering Solutions for evaporation, condensation, heat exchange & crystallization systems. They also manufacture equipment for sugar mills.
B) Established in 2004, Spray began its journey by manufacturing spray nozzles. In a few years, SED emerged as one of the fastest-growing technology-driven engineering solutions providers.
C) Today, SED has established its presence across multiple countries by providing innovative technology and solutions.
D) SED has an in-house R&D unit status granted by Govt. of India and actively works with 3 modern fabrication and automation units at Baddi, Himachal Pradesh.
Business Model of Spray Engineering Devices unlisted shares

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Financial Performance of Spray Engineering Devices Unlisted Shares
Amount(In Rs Crores) | FY 21-22 | FY 22-23 | FY 23-24 |
Revenue | 214 | 392 | 547 |
EBITDA | 21 | 54 | 87 |
Operating Profit Margin | 9.81% | 13.78% | 15.9% |
Profit After Tax | 15 | 33 | 53 |
Earning Per Share | 6.69 | 14.71 | 23.56 |
A) Revenue Growth
SED’s revenue has grown from Rs 214 crores in FY 21-22 to Rs 547 crores in FY 23-24. This is more than 150% growth in 3 years.
And clearly reflects the growth of operations for Spray Engineering Devices ltd share price.
B) EBITDA growth in 3 years
SED’s EBITDA has grown from Rs 21 crores in FY 21-22 to Rs 87 crores in FY 23-24. This is a significant 4X growth in 3 years.
C) Operating Profit Margin
SED’s Operating profit margin has grown in the last 3 years. In Fy 22, the net profit margin was 9.81%, But in Fy 23 Operating Margin grew to 13.78% and further grew to 15.9% in Fy 24.
Thus giving strong profitability growth for Spray Engineering Devices Unlisted Shares.
D) Profit after Tax
Spray’s profit was Rs 15 cr. in FY 22 which doubled to Rs 33 cr. in FY 23. In FY 24, PAT reached 53 crores
Thus reflecting a strong prospect for growth in Spray Engineering Devices stock price.
E) Earnings Per Share
SED an earning of Rs 6.69 per share in FY 22. This jumped to Rs 14.71 per share in FY 23 and Rs 23.56 per share in FY 24
Earnings per share and P/E Ratio affect the Spray Engineering Devices stock price.
Thus based on the above financial observations, Spray Engineering Devices Unlisted Shares can give significant investment growth to investors.
Spray Engineering Devices ltd Share Price Analysis

In July 2024, Spray Engineering Devices unlisted shares were trading at Rs 550 per share. By Aug-Sept 24, the share price jumped to Rs 675 per share.
And October end, the share price jumped to Rs 540 per share and traded around this price for 3 months.
Currently, the Spray Engineering Devices unlisted share price is trading at Rs 557 per share.
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