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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Surana Solar Ltd

About the Company - Surana Solar Ltd

Surana Solar Ltd. is a Public Limited Listed company incorporated on 08/11/2006 and has its registered office in the State of Telangana, India. Company’s Corporate Identification Number(CIN) is L45200TG2006PLC051566 and registration number is 051566. Currently Company is involved in the business activities of Manufacture of other electrical equipment. Company’s Total Operating Revenue is Rs. 24.83 Cr. and Equity Capital is Rs. 24.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electric Equipment - GeneralPlot No.212/3 & 4, Phase II, Hyderabad Telangana 500051surana@surana.com
http://www.suranasolar.com
Management
NamePosition Held
Mr. N Krupakar ReddyIndependent Director
Mr. Manish SuranaNon Executive Director
Mr. Narender SuranaNon Executive Director
Mr. Devendra SuranaNon Executive Director
Mr. R Surender ReddyIndependent Director
Mrs. Sanjana JainIndependent Director
Mr. Baunakar ShekarnathWhole Time Director
Mr. Srinagesh BooruguAddnl. & Ind.Director

Surana Solar Ltd. Share Price Update

Share PriceValue
Today₹35.30
Previous Day₹36.02

Basic Stock Data of Surana Solar Ltd

Market Cap 154 Cr.
Current Price 31.3
High / Low44.0/14.7
Stock P/E
Book Value 11.4
Dividend Yield0.00 %
ROCE0.36 %
ROE0.43 %
Face Value 5.00

Data Source: screener.in

Competitors of Surana Solar Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Orient Electric Ltd 4,483 Cr. 210279/18962.0 28.80.71 %19.2 %13.5 % 1.00
WS Industries (India) Ltd 759 Cr. 162194/17.427.3 20.60.00 %1.22 %63.8 % 10.0
Salzer Electronics Ltd 1,132 Cr. 651661/23628.3 2450.34 %12.0 %9.70 % 10.0
V-Guard Industries Ltd 13,378 Cr. 308335/23867.5 37.90.42 %14.5 %12.0 % 1.00
Havells India Ltd 88,820 Cr. 1,4171,472/1,12875.1 1100.54 %22.3 %17.0 % 1.00
Industry Average173 Cr266.452.0488.460.4%13.84%23.2%4.6

Surana Solar Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales3.6615.623.749.782.628.699.3011.1813.907.806.602.774.40
Expenses2.3514.202.388.352.377.769.7410.5813.217.306.224.213.90
Operating Profit1.311.421.361.430.250.93-0.440.600.690.500.38-1.440.50
OPM %35.79%9.09%36.36%14.62%9.54%10.70%-4.73%5.37%4.96%6.41%5.76%-51.99%11.36%
Other Income0.010.380.170.130.340.233.880.210.160.530.650.320.28
Interest0.200.150.060.130.120.230.120.030.030.010.010.030.01
Depreciation1.031.471.141.050.100.790.610.640.630.750.660.540.44
Profit before tax0.090.180.330.380.370.142.710.140.190.270.36-1.690.33
Tax %11.11%88.89%78.79%57.89%16.22%-114.29%29.52%28.57%89.47%7.41%33.33%14.20%66.67%
Net Profit0.080.020.070.160.310.311.910.100.030.250.24-1.450.11
EPS in Rs0.020.000.010.030.060.060.390.020.010.050.05-0.290.02

Surana Solar Ltd Quarterly Chart

Surana Solar Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales71.0792.55129.05125.38121.0584.0939.1234.7433.1727.9424.8342.1821.57
Expenses65.3082.88118.13107.36111.7076.0333.0929.9327.6222.5720.8640.8021.63
Operating Profit5.779.6710.9218.029.358.066.034.815.555.373.971.38-0.06
OPM %8.12%10.45%8.46%14.37%7.72%9.58%15.41%13.85%16.73%19.22%15.99%3.27%-0.28%
Other Income1.21-0.781.440.381.190.410.581.271.010.410.874.751.78
Interest3.572.982.915.294.443.282.161.940.860.820.540.190.06
Depreciation2.972.324.092.932.992.753.172.844.954.553.082.632.39
Profit before tax0.443.595.3610.183.112.441.281.300.750.411.223.31-0.73
Tax %27.27%27.86%43.28%17.19%31.51%31.56%34.38%23.08%21.33%48.78%30.33%31.12%
Net Profit0.322.593.038.442.131.670.841.000.590.210.852.28-0.85
EPS in Rs0.070.530.621.720.430.340.170.200.120.040.170.46-0.17
Dividend Payout %384.38%94.98%81.19%29.15%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Surana Solar Ltd Profit & Loss Yearly Chart

Surana Solar Ltd Growth

Compounded Sales Growth
10 Years:-8%
5 Years:2%
3 Years:8%
TTM:-50%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:-34%
TTM:-136%
Stock Price CAGR
10 Years:15%
5 Years:38%
3 Years:59%
1 Year:82%
Return on Equity
10 Years:3%
5 Years:1%
3 Years:0%
Last Year:0%

Surana Solar Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital24.6024.6024.6024.6024.6024.6024.6024.6024.6024.6024.6024.6024.60
Reserves17.9117.6217.7823.2525.3727.0427.8928.8929.4829.6930.5432.8231.61
Borrowings25.4529.4341.7666.1848.5722.8425.1122.546.507.3510.380.000.20
Other Liabilities10.2223.1518.2711.835.7710.233.063.123.782.342.982.022.66
Total Liabilities78.1894.80102.41125.86104.3184.7180.6679.1564.3663.9868.5059.4459.07
Fixed Assets28.0132.2130.7129.5727.2029.0325.8827.0630.6826.4023.6119.6514.56
CWIP1.2911.4613.6311.8512.5011.4511.4411.440.000.000.000.000.00
Investments0.020.030.020.020.000.000.000.000.004.850.055.620.19
Other Assets48.8651.1058.0584.4264.6144.2343.3440.6533.6832.7344.8434.1744.32
Total Assets78.1894.80102.41125.86104.3184.7180.6679.1564.3663.9868.5059.4459.07

Surana Solar Ltd Reserves and Borrowings Chart

Surana Solar Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 7.6812.26-3.42-14.8720.9934.12-1.618.6710.805.91-8.1610.14
Cash from Investing Activity -4.46-8.88-2.620.18-1.03-3.360.14-3.983.76-5.105.160.12
Cash from Financing Activity -3.02-0.315.6514.34-20.27-30.431.13-2.62-16.81-0.792.95-10.15
Net Cash Flow0.203.07-0.39-0.35-0.310.33-0.342.07-2.250.03-0.050.12

Surana Solar Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days20.7037.2737.0530.6052.0195.1531.7215.3478.35106.4752.182.94
Inventory Days199.05154.09129.21232.26159.3795.62383.47415.43200.10157.90418.82134.50
Days Payable28.7288.3424.998.253.3610.924.908.316.7813.5216.795.19
Cash Conversion Cycle191.03103.01141.28254.61208.03179.84410.30422.46271.67250.85454.21132.24
Working Capital Days181.7084.9597.55188.58165.45125.18356.88375.51333.75391.00448.20193.06
ROCE %5.67%11.22%10.30%15.97%7.10%6.61%4.52%4.22%1.01%2.01%2.75%-0.36%

Surana Solar Ltd Financial Efficiency Indicators Chart

Surana Solar Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters70.19%70.03%70.34%66.90%65.23%65.09%64.77%64.72%64.85%64.90%64.54%62.31%
FIIs0.00%0.00%0.00%0.06%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%
DIIs0.04%0.04%0.04%0.03%0.04%0.04%0.03%0.03%0.03%0.03%0.03%0.03%
Public29.77%29.93%29.62%33.00%34.74%34.88%35.19%35.24%35.12%35.07%35.43%37.65%
No. of Shareholders15,54416,73519,29629,82540,41340,96641,94241,11040,37941,40846,51355,685

Surana Solar Ltd Shareholding Pattern Chart

No. of Surana Solar Ltd Shareholders

This stock is not held by any mutual fund

Surana Solar Ltd ROCE Trend

Surana Solar Ltd EPS Trend

Surana Solar Ltd Key Financial Ratios

MonthMar 13
FaceValue10.00
Basic EPS (Rs.)1.05
Diluted EPS (Rs.)1.05
Cash EPS (Rs.)2.32
Book Value[Excl.RevalReserv]/Share (Rs.)17.16
Book Value[Incl.RevalReserv]/Share (Rs.)17.16
Revenue From Operations / Share (Rs.)38.58
PBDIT / Share (Rs.)3.93
PBIT / Share (Rs.)2.66
PBT / Share (Rs.)1.45
Net Profit / Share (Rs.)1.05
NP After MI And SOA / Share (Rs.)1.05
PBDIT Margin (%)10.19
PBIT Margin (%)6.89
PBT Margin (%)3.75
Net Profit Margin (%)2.71
NP After MI And SOA Margin (%)2.71
Return on Networth / Equity (%)6.11
Return on Capital Employeed (%)10.81
Return On Assets (%)2.57
Long Term Debt / Equity (X)0.41
Total Debt / Equity (X)0.68
Current Ratio (X)1.25
Quick Ratio (X)0.48
Dividend Payout Ratio (NP) (%)95.38
Dividend Payout Ratio (CP) (%)43.08
Earning Retention Ratio (%)4.62
Cash Earning Retention Ratio (%)56.92
Interest Coverage Ratio (X)3.24
Interest Coverage Ratio (Post Tax) (X)1.86
Enterprise Value (Cr.)91.90
EV / Net Operating Revenue (X)0.96
EV / EBITDA (X)9.50
MarketCap / Net Operating Revenue (X)0.71
Retention Ratios (%)4.61
Price / BV (X)1.61
Price / Net Operating Revenue (X)0.71
EarningsYield0.03

Surana Solar Ltd Profitability Ratios (%)

Surana Solar Ltd Liquidity Ratios

Surana Solar Ltd Liquidity Ratios (%)

Surana Solar Ltd Interest Coverage Ratios (X)

Surana Solar Ltd Valuation Ratios

Fair Value / Intrinsic Value of Surana Solar Ltd

Fair Value: ₹0.75

The stock is overvalued by 97.60% compared to the current price ₹31.3

*Investments are subject to market risks

Strength and Weakness of Surana Solar Ltd

StrengthWeakness
  1. The company has higher reserves (26.15 cr) compared to borrowings (23.56 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (65.13 cr) and profit (2.51 cr) over the years.
  1. The stock has a low average ROCE of 5.92%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 245.15, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 251.63, which may not be favorable.

Should I Buy Surana Solar Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Surana Solar Ltd:
    1. Net Profit Margin: 2.71%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 10.81% (Industry Average ROCE: 24.63%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 1.86
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.48
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E of N/A (Industry average Stock P/E: 65.18)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.68
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Surana Solar Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE