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Last Updated: April 2, 2026, 3:45 am
Author: Getaka|Social: XLinkedIn

Surani Steel Tubes Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹41.37Overvalued by 62.05%vs CMP ₹109.00

P/E (56.8) × ROE (1.1%) × BV (₹79.70) × DY (2.00%)

₹36.34Overvalued by 66.66%vs CMP ₹109.00
MoS: -199.9% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹34.6626%Over (-68.2%)
Graham NumberEarnings₹40.6218%Over (-62.7%)
DCFCash Flow₹6.3615%Over (-94.2%)
Net Asset ValueAssets₹79.988%Over (-26.6%)
EV/EBITDAEnterprise₹15.4810%Over (-85.8%)
Earnings YieldEarnings₹9.208%Over (-91.6%)
ROCE CapitalReturns₹16.138%Over (-85.2%)
Revenue MultipleRevenue₹145.126%Under (+33.1%)
Consensus (8 models)₹36.34100%Overvalued
Key Drivers: EPS CAGR -16.2% drags value — could be higher if earnings stabilize. | ROE 1.1% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -16.2%

*Investments are subject to market risks

Investment Snapshot

47
Surani Steel Tubes Ltd scores 47/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 1.9% WeakROE 1.1% WeakD/E 0.28 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
Promoter holding at 30.8% Stable
Earnings Quality40/100 · Moderate
OPM stable around 1% SteadyWorking capital: 142 days Capital intensive
Quarterly Momentum70/100 · Strong
Revenue (4Q): +43% YoY Accelerating
Industry Rank30/100 · Weak
P/E 56.8 vs industry 40.7 In-lineROCE 1.9% vs industry 15.3% Below peersROE 1.1% vs industry 11.7% Below peers3Y sales CAGR: 18% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:45 am

Market Cap 169 Cr.
Current Price 109
Intrinsic Value₹36.34
High / Low 139/47.3
Stock P/E56.8
Book Value 79.7
Dividend Yield0.00 %
ROCE1.91 %
ROE1.12 %
Face Value 10.0
PEG Ratio-3.50

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Surani Steel Tubes Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Surani Steel Tubes Ltd 169 Cr. 109 139/47.356.8 79.70.00 %1.91 %1.12 % 10.0
Rama Steel Tubes Ltd 653 Cr. 3.99 14.9/3.4341.5 2.850.00 %6.75 %4.62 % 1.00
Hariom Pipe Industries Ltd 942 Cr. 304 572/27315.0 1950.20 %14.1 %11.9 % 10.0
Gandhi Special Tubes Ltd 982 Cr. 808 1,034/60713.7 2361.86 %27.5 %21.0 % 5.00
Hi-Tech Pipes Ltd 1,549 Cr. 76.3 128/70.124.0 60.20.03 %11.3 %7.47 % 1.00
Industry Average9,873.50 Cr511.9240.74163.020.44%15.34%11.65%4.69

All Competitor Stocks of Surani Steel Tubes Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 5147436470675965659111111451
Expenses 5445425867656361668911011452
Operating Profit -321631-44-1211-1
OPM % -6%4%2%10%5%2%-6%6%-2%2%1%0%-1%
Other Income 00000000001-14
Interest 1111111100000
Depreciation 1111111000000
Profit before tax -50-1520-53-121-13
Tax % 9%-106%13%2%1%50%-2%12%9%0%11%-40%21%
Net Profit -50-1420-53-121-12
EPS in Rs -6.400.42-0.725.432.220.02-5.673.51-1.451.680.94-0.441.36

Last Updated: December 28, 2025, 11:34 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:34 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 365868771019398107137124155225165
Expenses 3456657397929999132123155224165
Operating Profit 123441-275001-0
OPM % 4%3%5%5%4%1%-2%7%3%0%0%1%-0%
Other Income 00000000001-03
Interest 1111112221000
Depreciation 0010001111011
Profit before tax 00123-0-542-2102
Tax % 100%37%3%43%36%18%6%3%2%20%18%-200%
Net Profit 00112-0-542-2001
EPS in Rs 0.000.645.724.003.03-0.17-5.994.702.23-2.160.470.320.92
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)0.00%100.00%-100.00%180.00%-50.00%-200.00%100.00%
Change in YoY Net Profit Growth (%)0.00%100.00%-200.00%280.00%-230.00%-150.00%300.00%

Surani Steel Tubes Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:18%
3 Years:18%
TTM:45%
Compounded Profit Growth
10 Years:35%
5 Years:21%
3 Years:20%
TTM:530%
Stock Price CAGR
10 Years:%
5 Years:26%
3 Years:36%
1 Year:-73%
Return on Equity
10 Years:2%
5 Years:3%
3 Years:1%
Last Year:3%

Last Updated: September 5, 2025, 1:41 pm

Balance Sheet

Last Updated: December 4, 2025, 2:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2222688888111616
Reserves -00225161114161478106108
Borrowings 1110121315172018151142350
Other Liabilities 237109495127411
Total Liabilities 16162328364548455141134157125
Fixed Assets 5555441513125101212
CWIP 00026110000001
Investments 000000000001819
Other Assets 1011182125303332393712412894
Total Assets 16162328364548455141134157125

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2-02-1-8-025-2-579
Cash from Investing Activity + -0-1-2-4-5-1-007-5-67
Cash from Financing Activity + -20-05131-2-5-59625
Net Cash Flow 0-0-0-000-0-0034-32
Free Cash Flow 2-10-5-13-1255-637
CFO/OP 129%-9%77%-10%-681%28%33%100%-471%-14,125%666%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-10.00-8.00-9.00-9.00-11.00-16.00-22.00-11.00-10.00-11.00-42.00-34.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 43303038222422241339344
Inventory Days 5735636066828883775315453
Days Payable 1914324430143112171761
Cash Conversion Cycle 8251615458937995727615196
Working Capital Days 31182315134826403452103142
ROCE %12%12%19%18%17%2%-7%15%9%-1%1%2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2022Mar 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 33.97%33.97%53.75%51.72%44.93%39.02%38.40%31.02%30.84%30.84%30.84%30.84%
Public 66.03%66.03%46.25%48.28%55.07%60.98%61.60%68.98%69.16%69.16%69.16%69.16%
No. of Shareholders 3943642583215871,0981,2081,2801,2431,2391,2301,232

Shareholding Pattern Chart

No. of Shareholders

Surani Steel Tubes Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25
FaceValue 10.00
Basic EPS (Rs.) 0.38
Diluted EPS (Rs.) 0.38
Cash EPS (Rs.) 0.82
Book Value[Excl.RevalReserv]/Share (Rs.) 78.36
Book Value[Incl.RevalReserv]/Share (Rs.) 78.36
Revenue From Operations / Share (Rs.) 144.72
PBDIT / Share (Rs.) 2.42
PBIT / Share (Rs.) 1.91
PBT / Share (Rs.) 0.10
Net Profit / Share (Rs.) 0.31
NP After MI And SOA / Share (Rs.) 0.31
PBDIT Margin (%) 1.67
PBIT Margin (%) 1.31
PBT Margin (%) 0.07
Net Profit Margin (%) 0.21
NP After MI And SOA Margin (%) 0.21
Return on Networth / Equity (%) 0.39
Return on Capital Employeed (%) 2.42
Return On Assets (%) 0.30
Total Debt / Equity (X) 0.28
Current Ratio (X) 4.11
Quick Ratio (X) 3.21
Interest Coverage Ratio (X) 217.36
Interest Coverage Ratio (Post Tax) (X) 189.75
Enterprise Value (Cr.) 191.25
EV / Net Operating Revenue (X) 0.84
EV / EBITDA (X) 50.86
MarketCap / Net Operating Revenue (X) 0.71
Price / BV (X) 1.32
Price / Net Operating Revenue (X) 0.71

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Surani Steel Tubes Ltd. is a Public Limited Listed company incorporated on 31/07/2012 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L27109GJ2012PLC071373 and registration number is 071373. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 225.00 Cr. and Equity Capital is Rs. 15.55 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Tubes/PipesS.No. 110, 115, Opp. Vinayak TMT, Gandhinagar Gujarat 382315Contact not found
Management
NamePosition Held
Mr. Vijay SinglaManaging Director
Mr. Chetan SinglaJoint Managing Director
Ms. Pavni SinglaWholeTime Director & CFO
Mr. Gurpreet Singh BhatiaInd. Non-Executive Director
Mrs. Sangeeta MehtaniInd. Non-Executive Director
Mr. Kailash GargInd. Non-Executive Director

FAQ

What is the intrinsic value of Surani Steel Tubes Ltd and is it undervalued?

As of 18 April 2026, Surani Steel Tubes Ltd's intrinsic value is ₹36.34, which is 66.66% lower than the current market price of ₹109.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (1.12 %), book value (₹79.7), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Surani Steel Tubes Ltd?

Surani Steel Tubes Ltd is trading at ₹109.00 as of 18 April 2026, with a FY2026-2027 high of ₹139 and low of ₹47.3. The stock is currently in the middle of its 52-week range. Market cap stands at ₹169 Cr..

How does Surani Steel Tubes Ltd's P/E ratio compare to its industry?

Surani Steel Tubes Ltd has a P/E ratio of 56.8, which is above the industry average of 40.74. The premium over industry average may reflect growth expectations or speculative interest.

Is Surani Steel Tubes Ltd financially healthy?

Key indicators for Surani Steel Tubes Ltd: ROCE of 1.91 % is on the lower side compared to the industry average of 15.34%; ROE of 1.12 % is below ideal levels (industry average: 11.65%). Dividend yield is 0.00 %.

Is Surani Steel Tubes Ltd profitable and how is the profit trend?

Surani Steel Tubes Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹225 Cr. Compared to ₹2 Cr in Mar 2022, the net profit shows a declining trend.

Does Surani Steel Tubes Ltd pay dividends?

Surani Steel Tubes Ltd has a dividend yield of 0.00 % at the current price of ₹109.00. The company is currently not paying meaningful dividends.

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 Surani Steel Tubes 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
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