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UNLISTED COMPANY PROFILE

SPRAY ENGINEERING DEVICES

INDUSTRIALS LINE
INDICATIVE PRICE / SHARE
₹88
▼ 10.2% · 30-DAY
OTC REFERENCE PRICE · NOT AN OFFER TO DEAL
PRICE AS OF 02 SEPT 2026
VIEW DATA METHOD →
REQUEST CURRENT DETAILS →
INDICATIVE PRICE HISTORY · DATED OBSERVATIONS SINCE 2024

PRICE HISTORY.

Use the left and right arrow keys to inspect dated observations. Home selects the first observation and End selects the latest.

₹705
₹88
12 Jul 2423 Apr 2602 Sept 26

ALL-TIME LOW
₹88
ALL-TIME HIGH
₹705
WINDOW
ALL
NOT A STOCK-EXCHANGE QUOTE · NOT AN OFFER TO DEAL
THE TIMETABLE · KEY NUMBERS

Key numbers

Published fundamentals and the date each figure was recorded.

CALCULATION METHOD →
Market cap
₹221 Cr
Indicative price × reported outstanding shares
Min. investment
₹10,120
Indicative price × lot size
Lot size
115
P/E ratio
14.79
P/B ratio
1.08
EPS
5.95
ROE
7.31%
Book value
₹81.7
Face value
₹10
Debt / equity
0.39
ISIN
INE528I01015
Company security identifier
THE BUSINESS · HOW IT EARNS

Spray Engineering Devices Limited designs and manufactures process equipment and provides engineering services for sugar and allied industries and water recovery. Its product portfolio covers tubular and plate falling-film evaporators, spray continuous pans, mechanical circulators, low-temperature evaporators, direct-contact heaters, molasses conditioners, sugar melters, condensate flashing, cooling and condensing systems and mill electrification. The company also supplies low-temperature evaporation systems for jaggery production. It undertakes process and equipment design, equipment manufacturing, industrial and plant automation, project engineering and management, EPC work, turnkey projects and after-sales technical support. Its manufacturing, research and development, instrumentation and automation activities support in-house fabrication and testing. For wastewater applications, it uses mechanical-vapour-compression or recompression-based low-temperature evaporation equipment for water recovery and recycling, including zero-liquid-discharge applications. The company describes its offerings as serving energy efficiency, process improvement and resource optimisation needs of sugar, allied and wastewater users.

About this company

Spray Engineering Devices Limited (SEDL) is an Indian engineering and clean-technology company that designs and manufactures energy-efficient process equipment for the sugar and allied industries. Incorporated in 2004 and headquartered in the Chandigarh–Mohali region with manufacturing operations in Baddi, Himachal Pradesh, the company has built a niche around turning the sugar mill into a more integrated, lower-energy and lower-waste operation. The firm's product and solutions portfolio spans evaporators, falling-film and tube heat exchangers, condensers, crystallizers, direct-contact heaters, molasses conditioners, mill electrification systems and a range of proprietary spray-nozzle and integrated equipment used in evaporation, crystallization and refining. Beyond core sugar processing, SEDL has extended into adjacent segments including biofuels and distillery solutions, bio-refinery and bio-based green chemicals, jaggery manufacturing, and water treatment. The company is recognised by India's Department of Scientific & Industrial Research as an in-house R&D unit, and it operates a dedicated research facility for jaggery technology. In terms of scale, SEDL employs a workforce in the region of 1,200 people, runs multiple fabrication units, and has executed projects across more than 40 countries, giving it a meaningful export footprint alongside its domestic base. This positions the company as a specialised technology supplier within a traditional, cyclical sugar-sector value chain that is increasingly focused on energy efficiency, ethanol and decarbonisation. In the unlisted market, Spray Engineering Devices draws interest because it sits at the intersection of two themes that attract pre-IPO attention: India's push toward ethanol blending and biofuels, and the broader appetite for energy-efficient industrial and clean-tech businesses. Its established client base, patents and R&D recognition, multi-country project history and diversified application areas make it a frequently tracked name among investors who follow unlisted engineering companies. The figures referenced here are indicative market data points drawn from unlisted-market sources and are presented for information only.

COMPANY AT A GLANCE
Sector lineIndustrials
SettlementNSDL / CDSL
Incorporated2004
Listing statusUnlisted / Pre-IPO
*INDICATIVE · TIMELINE MAY CHANGE · NOTHING FINAL UNTIL THE RHP

COMPANY REGISTRY · ON FILE

PUBLIC OR ADMIN-SUPPLIED DATA · VERIFY INDEPENDENTLY
CIN
U00000CH2004PLC027625
PAN
AAICS5252M
Incorporated
2004
Outstanding shares
2,50,96,423
Registered office
SCO – 107, 2nd Floor, Sector 47 – C, Chandigarh – 160047
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THE LOGBOOK · FINANCIALS BY YEAR

WHAT THE ENGINE HAS DONE.

AMOUNT UNIT NOT VERIFIEDFY21FY22FY23FY24FY25
REVENUE11,10021,40039,20054,73546,097
PAT5001,5003,3005,3161,502
EPS (₹)2715236
PAT MARGIN5%7%8%10%3%
CAUTION · AMOUNT UNIT AND FIELD-LEVEL SOURCES HAVE NOT BEEN VERIFIED · DO NOT RELY ON THESE FIGURES WITHOUT CHECKING THE COMPANY FILING

THE CREW · BOARD & MANAGEMENT

Vivek Verma
Managing Director
Arshdeep Kaur Judge
Director
Niveta Sharma
Director
Shridhar Venkatesh
Nominee Director
Vimarsh Verma
Additional Director
COMPANY TIMELINE · EVENTS
Shareholders at the EGM approved raising capital through an IPO and a preferential issue of 25,09,642 equity shares at Rs.287 each. (6 May 2024)
READ THE NOTICE →
Shareholders approved alteration of the Memorandum of Association and adoption of new Articles of Association. (20 Sep 2024)
READ THE NOTICE →
Vimarsh Verma was appointed Additional Director, effective 20 August 2025. (20 Aug 2025)
READ THE NOTICE →
THE GLOVEBOX · ANNUAL REPORTS
ENQUIRE NOW →
NON-BINDING · NO PAYMENT · NOT AN OFFER TO DEAL
RESEARCH DESK · QUESTIONS

COMMON QUESTIONS.

Is Spray Engineering Devices listed on the stock exchange?+

No. As of 2 September 2026, Spray Engineering Devices is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.

What is the Spray Engineering Devices unlisted share price?+

As of 2 September 2026, the indicative unlisted share price of Spray Engineering Devices is ₹88 per share. This is an over-the-counter reference price, not a stock-exchange quote.

What indicative minimum amount is displayed for Spray Engineering Devices unlisted shares?+

The displayed unit count is 115 share(s); at the indicative price of about ₹88, the displayed amount is approximately ₹10,120. This is a display convention, not evidence of inventory, an order minimum or a quote.

What is the ISIN of Spray Engineering Devices?+

The recorded ISIN of Spray Engineering Devices is INE528I01015. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.

Is trading in Spray Engineering Devices unlisted shares legal in India?+

Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.

Is there a lock-in period for unlisted shares?+

A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.

Do you guarantee returns?+

No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.

SIMILAR COMPANY PROFILES
INDUSTRIALS LINE.
Prices shown are indicative over-the-counter reference prices, not an offer to deal. This page is information only and not investment advice. Unlisted shares carry higher risk and lower liquidity than listed shares. Settlement to your own demat account via NSDL / CDSL through registered intermediaries.
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