2. Business Divisions

Spray Engineering delivers energy-efficient and sustainable solutions across a variety of industries. The company’s core business divisions include:

• Sugar and Bio-Refinery: Spray Engineering plays a pivotal role in optimizing the energy and water consumption of sugar plants and bio-refineries. Their Low-Temperature Evaporation Systems and other specialized technologies significantly reduce steam consumption, power usage, and water waste, ensuring greater sustainability.
• Distillery and Jaggery: The company provides innovative solutions for jaggery production with its Boiler-Free Jaggery Production Unit, which eliminates the need for traditional boilers. This eco-friendly process maximizes the use of bagasse and ensures a sustainable production cycle for jaggery manufacturers.
• Biofuel and Water Management: Spray Engineering also delivers cutting-edge solutions for biofuel production and water management. Its wastewater recycling systems have been implemented in over 100 plants globally, transforming wastewater into clean water while reducing environmental impact.
• Bio-Based Green Chemicals: As part of its commitment to sustainability, SED focuses on providing solutions for the production of bio-based green chemicals, which are becoming increasingly vital for industries looking to reduce their carbon footprints.

3. Financial Highlights

Here are five key financial highlights of Spray Engineering Unlisted Shares, showcasing the company’s strong financial health and potential for growth:

1. Steady Revenue Growth: Spray Engineering’s revenue has consistently grown, reaching ₹547 crore in FY 2024, up from ₹392 crore in FY 2023. This reflects strong demand for its energy-efficient solutions across various sectors.
2. Improved Profit Margins: In FY 2024, the company reported a gross margin of 37.66%, an improvement over the previous years. This increase in margins reflects better operational efficiencies and a higher proportion of revenue from value-added solutions like its Low-Temperature Evaporation System.
3. Significant Increase in Earnings: EBITDA in FY 2024 was ₹87 crore, up from ₹54 crore in FY 2023, indicating improved operational performance and cost management. Additionally, PAT rose to ₹53 crore in FY 2024, compared to ₹33 crore in the previous year, demonstrating solid bottom-line growth.
4. Solid Earnings Per Share (EPS): Spray Engineering reported an EPS of ₹23.56 in FY 2024, a significant increase from ₹14.71 in FY 2023. This growth in EPS suggests that the company is effectively translating its revenue into shareholder value.
5. Strong Return on Equity (ROE): With an ROE of 43%, Spray Engineering demonstrates strong returns on shareholder equity, reflecting efficient capital use and a high level of profitability relative to its equity base.