const BORDER = 3; Var Bmp : TBitmap; w, h: Integer; x, y: Integer; begin Bmp:=TBitmap.Create; try Bmp.PixelFormat:=pf24bit; Bmp.Canvas.Font.Name :='Arial'; // set the font to use Bmp.Canvas.Font.Size :=20; //set the size of the font Bmp.Canvas.Font.Color := clWhite; //set the color of the text w :=Bmp.Canvas.TextWidth(IntToStr(sped1.Value)); //calculate the width of the image h :=Bmp.Canvas.TextHeight(IntToStr(sped1.Value)); //calculate the height of the image Bmp.Width := Max(w, h) + BORDER * 2; // get a square Bmp.Height := Max(w, h) + BORDER * 2; // get a square x := (Bmp.Width - w) div 2; // center y := (Bmp.Height - h) div 2; // center Bmp.Canvas.Brush.Color := clBlue; //set the background Bmp.Canvas.FillRect(Rect(0,0, Bmp.Width, Bmp.Height)); //paint the background which is transparent Bmp.Canvas.Brush.Color := clRed; // circle in red Bmp.Canvas.Pen.Color := clRed; // circle in red Bmp.Canvas.Ellipse(0, 0, Bmp.Width, Bmp.Height); // draw the circle Bmp.Canvas.TextOut(x, y, IntToStr(sped1.Value)); //draw the number img1.Picture.Assign(bmp); // assign the bmp to the image ; image.transparent = true, .stretch = true; finally Bmp.Free; end;
Adjust the different values you need ... 
Updated source code RRUZ
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