Sparc Electrex

SPAR.BO

Communication Equipment · Technology

Price

₹5.12

-0.01 (-0.19%)

Market Cap

₹51.3M

Exchange

Bombay Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 13, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+82.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 5.5M (2022) → 10.0M (2026)

Winston Score History

The full picture

Sparc Electrex Ltd. is a small Indian technology company that operates in the communication equipment space. It focuses on electronics and related products, serving industrial and commercial customers in India. The company is listed on the Bombay Stock Exchange and competes in a fragmented market alongside many other domestic and international electronics manufacturers.

The company generates revenue through the sale of electronic and communication equipment, though its financials show deeply negative gross and operating margins, meaning it currently spends far more than it earns. It operates primarily within India and, with a market cap of around $0.1 billion, is a micro-cap company with limited scale and resources. The most pressing risk facing Sparc Electrex is its severe unprofitability — negative margins of this magnitude suggest fundamental challenges in its cost structure or revenue base, and the company would need significant operational improvement to become financially viable.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-99.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-384.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

0.6%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$5M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Sparc Electrex's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

-126915.8%

Thin — -126915.8% gross margin

Operating Margin

-146515.8%

Losing money on operations — -146515.8%

ROCE

-21.8%

Weak — -21.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-92.3%

Shrinking sales (-92.3% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

69.0%

Converts sales into free cash efficiently (69.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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