Suraj Products Ltd

Suraj Products Ltd

₹ 738 -1.33%
24 Jun - close price
About

Incorporated in 1991, Suraj Product
Ltd manufactures finished products
from Iron Ore[1]

Key Points

Business Overview:[1][2]
SPL does production of Sponge Iron by direct reduction of Iron Ore, Pig Iron, Ingots/Billet, TMT Bars & Generation of Power. It is a secondary steel producer and derives the major portion of its
revenue from semi-urban and rural areas.

  • Market Cap 841 Cr.
  • Current Price 738
  • High / Low 951 / 155
  • Stock P/E 29.1
  • Book Value 114
  • Dividend Yield 0.20 %
  • ROCE 26.0 %
  • ROE 24.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 36.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%

Cons

  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
71.24 70.51 51.64 54.81 59.89 74.95 60.82 46.54 102.67 111.21 67.78 73.59 92.09
60.41 57.77 41.61 43.69 50.15 64.55 48.58 35.07 88.42 96.77 55.41 60.47 81.16
Operating Profit 10.83 12.74 10.03 11.12 9.74 10.40 12.24 11.47 14.25 14.44 12.37 13.12 10.93
OPM % 15.20% 18.07% 19.42% 20.29% 16.26% 13.88% 20.12% 24.65% 13.88% 12.98% 18.25% 17.83% 11.87%
0.04 0.10 0.07 0.03 0.09 0.11 0.04 0.03 0.15 0.19 0.04 0.25 0.29
Interest 1.30 1.24 1.07 0.99 1.18 1.08 0.80 1.00 1.15 0.97 0.77 0.87 0.87
Depreciation 2.39 2.10 2.11 2.11 2.26 1.83 2.37 2.29 2.45 2.23 2.23 2.23 2.25
Profit before tax 7.18 9.50 6.92 8.05 6.39 7.60 9.11 8.21 10.80 11.43 9.41 10.27 8.10
Tax % 57.80% 28.32% 20.38% 18.51% 26.29% 17.24% 28.21% 32.16% 29.54% 26.60% 22.32% 27.85% 28.15%
3.03 6.80 5.51 6.56 4.70 6.29 6.54 5.57 7.61 8.39 7.31 7.41 5.82
EPS in Rs 2.66 5.96 4.83 5.75 4.12 5.52 5.74 4.89 6.68 7.36 6.41 6.50 5.11
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
74 88 93 56 60 70 116 118 218 237 285 345
66 80 84 51 55 58 102 101 187 193 237 294
Operating Profit 8 8 9 5 5 12 14 17 31 44 48 51
OPM % 11% 9% 9% 8% 9% 16% 12% 14% 14% 18% 17% 15%
0 0 0 0 0 0 0 0 0 0 0 1
Interest 4 4 2 2 3 5 4 6 7 4 4 3
Depreciation 3 3 3 2 2 4 4 7 9 9 9 9
Profit before tax 1 2 4 1 1 3 6 4 15 31 36 39
Tax % 39% 33% 33% 28% -8% -7% 1% -42% 37% 24% 27% 26%
1 1 3 0 1 4 6 5 9 24 26 29
EPS in Rs 1.34 1.01 2.22 0.38 0.84 3.14 5.53 4.74 8.04 20.68 22.82 25.38
Dividend Payout % 37% 59% 32% 0% 0% 0% 0% 0% 0% 5% 7% 8%
Compounded Sales Growth
10 Years: 15%
5 Years: 24%
3 Years: 17%
TTM: 21%
Compounded Profit Growth
10 Years: 38%
5 Years: 37%
3 Years: 47%
TTM: 11%
Stock Price CAGR
10 Years: 48%
5 Years: 118%
3 Years: 132%
1 Year: 354%
Return on Equity
10 Years: 20%
5 Years: 25%
3 Years: 29%
Last Year: 25%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 6 11 11 11 11 11 11 11 11 11 11 11
Reserves 10 16 18 18 19 22 29 34 43 67 92 119
45 34 18 25 45 51 64 87 66 61 54 41
7 5 6 4 4 4 7 17 9 5 15 14
Total Liabilities 68 67 53 59 79 89 111 149 130 145 172 186
18 22 21 20 39 41 57 82 75 74 84 75
CWIP 0 0 0 0 0 6 13 0 0 0 0 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0
50 45 32 39 40 41 40 67 54 71 88 110
Total Assets 68 67 53 59 79 89 111 149 130 145 172 186

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-4 10 22 -4 7 8 20 -0 33 13 33 32
-1 -6 -2 -1 -21 -12 -28 -16 -2 -7 -19 -1
5 -4 -19 4 17 1 8 16 -28 -9 -13 -18
Net Cash Flow 0 -1 1 -1 2 -2 0 -0 2 -3 1 13

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 17 21 20 24 21 15 8 19 12 10 15 8
Inventory Days 222 165 88 246 207 197 114 221 83 120 66 74
Days Payable 25 12 15 20 16 11 16 61 10 5 6 6
Cash Conversion Cycle 214 175 92 250 212 201 106 178 86 125 75 76
Working Capital Days 191 153 90 212 190 161 75 115 61 91 83 79
ROCE % 11% 9% 11% 5% 6% 10% 11% 8% 17% 27% 27%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70% 73.70%
0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
26.30% 26.30% 26.30% 26.30% 26.28% 26.27% 26.26% 26.27% 26.28% 26.27% 26.27% 26.28%
No. of Shareholders 8,5498,8259,2229,2979,6569,6489,5789,5319,51710,32510,68411,328

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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