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In the world of unlisted shares, finding a company that combines cutting-edge technology with sustainability is rare. Spray Engineering Devices Limited (SED) is one such gem. While the name might sound technical, SED plays a huge role in the food we eat, the energy we use, and the water we save.
Founded in 2004, SED has grown from a spray nozzle manufacturer into a global leader in energy-efficient solutions. Here is everything you need to know about the company, explained in simple words.
Imagine a company that helps sugar factories save massive amounts of energy, turns wastewater into clean water, and produces jaggery without burning any fuel. That is SED in a nutshell.
SED specializes in designing and building equipment for industries like sugar, biofuel, and chemicals. They operate in over 40 countries and employ 1,200 skilled professionals. Their work is so advanced that the Government of India (DSIR) recognizes their research and development unit.
SED’s business is diversified but focused on sustainability. They operate in:
What makes SED special? It’s their focus on solving big problems with smart technology. Here are two of their flagship innovations:
This is a fancy name for a machine that cleans dirty water without using too much energy.
Traditionally, making jaggery (gur) requires burning bagasse (dry sugarcane waste) in a boiler. SED invented a way to do it without a boiler.
SED isn't just about lab experiments; their technology is deployed on a massive scale. Their solutions have been successfully installed in over 500 sugar factories in India.
When a sugar factory uses SED’s technology, the results are dramatic:
SED is the go-to partner for India’s biggest business groups. Their client list reads like a "Who's Who" of Indian industry:
SED is not just an Indian success story. They have executed major projects across the globe, proving their technology works everywhere.
For investors looking at the unlisted market via Unlisted Network, SED presents a compelling story. Here is why the company is positioned for long-term growth:
Spray Engineering Devices Limited (SED) is a high-impact, technology-driven company. They are not just manufacturing equipment; they are engineering solutions for a cleaner, more efficient planet. For investors on Unlisted Network looking for a fundamentally strong company with a global footprint and a focus on green technology, SED represents a unique opportunity to invest in the backbone of sustainable industry.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Unlisted shares are illiquid and carry high risk. Investors should conduct their own due diligence before investing.
| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 214 | 392 | 547 | 461 |
| Cost of Material Consumed | 147 | 255 | 341 | 302 |
| Change in Inventory | -6 | -7 | 6 | -12 |
| Gross Margins | 34.11 | 36.73 | 36.56 | 37.09 |
| Employee Benefit Expenses | 28 | 39 | 47 | 54 |
| Other Expenses | 24 | 51 | 66 | 78 |
| EBITDA | 21 | 54 | 87 | 39 |
| OPM | 9.81 | 13.78 | 15.9 | 8.46 |
| Other Income | 1 | 1 | 1 | 0.8 |
| Finance Cost | 5 | 8 | 10 | 11.5 |
| D&A | 2 | 3 | 5 | 7.6 |
| EBIT | 19 | 51 | 82 | 31.4 |
| EBIT Margins | 8.88 | 13.01 | 14.99 | 6.81 |
| PBT | 15 | 45 | 74 | 21 |
| PBT Margins | 7.01 | 11.48 | 13.53 | 4.56 |
| Tax | 0 | 12 | 21 | 6 |
| PAT | 15 | 33 | 53 | 15 |
| NPM | 7.01 | 8.42 | 9.69 | 3.25 |
| EPS | 6.69 | 14.71 | 23.56 | 5.98 |
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