1. India Stocks

  2. •

    Health technology

  3. •

    Medical specialties
Span Divergent Ltd

Span Divergent Ltd

BBSE:SDL
23.10
INR
+1.10
(+5.00%)
-6.29EPS
356.70MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
112.31
103.95
- -
5.26
26.33
43.05
17.17
13.55
23.96
22.93
22.58
15.65
30.82
29.14
Basic EPS, GAAP
-8.65
53.58
6.06
-4.78
-22.88
-25.74
-14.23
-10.23
-17.94
-9.25
1.79
-1.68
-4.56
-5.41
Free Cash Flow per Basic Share
5.46
78.78
-13.65
-39.26
-29.21
-13.11
-2.67
0.28
13.35
3.3
3.88
3.4
-0.36
- -
Dividend per Share
0.57
- -
0.05
- -
- -
0.03
- -
- -
0.04
- -
- -
- -
- -
- -
Book Value per Share
31.1
84.78
93.72
88.93
66.05
46.38
32.2
22.01
4.07
-5.2
-3.46
-5.14
20.46
- -
Tangible Book Value per Share
14.89
84.58
93.65
88.02
65.34
45.82
31.83
21.77
3.93
-5.3
-3.5
-5.17
20.42
- -
Basic Weighted Avg Shares
7
7
5
5
5
5
5
5
5
5
5
5
5
6
Sales/Revenue/Turnover
817
756
- -
29
144
235
94
74
131
125
123
86
169
168
Operating Margin (%)
-0.55
-4.89
- -
-220.12
-92.82
-47.53
-98.29
-68.18
-9.06
-7.58
-0.22
-20.17
-22.25
-24.24
Depreciation Expense
48
60
2
8
26
36
35
31
22
22
16
11
12
11
Net Income, GAAP
-63
390
33
-26
-125
-141
-78
-56
-98
-51
10
-9
-25
-31
Effective Tax Rate (%)
- -
0.61
27.8
- -
- -
- -
- -
- -
- -
- -
2.25
- -
- -
- -
Profit Margin (%)
-7.71
51.55
- -
-90.93
-86.91
-59.78
-82.84
-75.46
-74.88
-40.36
7.91
-10.73
-14.81
-18.55
Working Capital
-114
502
436
277
182
60
26
22
-112
-162
-149
-155
17
- -
LT Debt
86
2
2
65
85
73
101
118
65
53
36
26
1
- -
Total Equity
227
617
514
487
361
219
134
72
-29
-84
-76
-88
98
- -
Return on Invested Capital (%)
- -
84.88
2.89
- -
- -
- -
- -
- -
- -
- -
26.4
- -
- -
- -
Return on Capital (%)
- -
76.64
5.91
- -
- -
- -
- -
- -
- -
- -
86.2
- -
- -
- -
Return on Common Equity (%)
-24.36
92.48
5.86
-5.24
-29.53
-45.78
-36.21
-37.74
-137.64
- -
- -
- -
- -
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
70
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
1
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
7
7
Market Capitalization
183
254
357

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
191
- -
Cash, Cash Equivalents & STI
- -
125
- -
Accounts Receivable, Net
- -
15
- -
Inventories
- -
17
- -
Total Current Liabilities
- -
174
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
70
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-31.47%
-31.86%
-211.15%
Free Cash Flow
436.56%
889.79%
-110.53%
Net Income, GAAP
2.55%
-22.72%
172.7%
Sales/Revenue/Turnover
- -
27.58%
97.6%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
35
27
18
5
86
2026
10
76
38
46
169
2027
9
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-0.01
0.23
-0.28
-1.87
-1.68
2026
-0.18
-0.34
-1.78
-1.32
-4.56
2027
-1.64
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Veeral Pradipkumar Desai
Full Time Employees
6
Sector
Health technology
Industry
Medical specialties
Address
902 - 904, Rajhans Bonista Surat GU India 395007
IPO Date
Oct 17, 1994
Website
span.in
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Business
Span Divergent Limited (SDL.BO) is an India-based holding company operating in the food, agriculture, life sciences, and business consulting sectors through its subsidiaries and divisions. The company offers cashew processing through its wholly owned subsidiary Dryfruit Factory LLP, which operates a state-of-the-art, ISO 9001 and FSSC certified plant near Ahmedabad, Gujarat, designed for 7,000 MT of raw cashew nuts annually and currently processing 4,000 MT; plant tissue culture and agriculture solutions via Aranya Agri Biotech LLP; trading of clean room consumables and accessories for biotech and pharmaceutical industries through Biospan Contamination Control Solutions Pvt Ltd, a joint venture with Micronclean Ltd. UK; diagnostic-related activities via Span Diagnostics LLP and Biospan Scientific LLP; cashew-related operations through Desai Farmharvest LLP; and management consulting services to small and medium enterprises and startups via its Spanyan Business Assistance division. These offerings target biotech, pharma, food processing, agriculture, and entrepreneurial customers primarily in India. Founded in 1972 as Desai Laboratories by pathologist Dr. Pradip K. Desai and reorganized as Span Diagnostics Limited in 1976, the company was originally a leader in in-vitro diagnostics before divesting that business in 2015 to a Japanese multinational and renaming to Span Divergent Limited to pursue diversification. Headquartered at 9th Floor, Rajhans Bonista, Surat, Gujarat, it maintains operations across India, including manufacturing facilities in Udhna, Sachin, and near Ahmedabad. Recent developments include the sale or transfer of its entire investment in subsidiary Span Diagnostics LLP, announced on November 10, 2025; temporary halts in manufacturing operations at a subsidiary; revised consolidated financial results and segment reporting for periods ended September 30, 2024, and June 30, 2025; and board approvals alongside newspaper publications under SEBI regulations in October 2024. These changes reflect ongoing portfolio adjustments and regulatory compliance amid its diversified operations.