Suraj Products Ltd

₹ 664 -2.24%

26 Jul - 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.

Website BSE

Market Cap ₹ 757 Cr.
Current Price ₹ 664
High / Low ₹ 951 / 212
Stock P/E 26.2
Book Value ₹ 114
Dividend Yield 0.23 %
ROCE 26.0 %
ROE 24.8 %
Face Value ₹ 10.0

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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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Detailed Comparison with:

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

Upcoming result date: 2 August 2024

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:	46%
5 Years:	117%
3 Years:	122%
1 Year:	186%

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%	26%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 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%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	26.30%	26.30%	26.30%	26.28%	26.27%	26.26%	26.27%	26.28%	26.27%	26.27%	26.28%	26.28%
No. of Shareholders	8,825	9,222	9,297	9,656	9,648	9,578	9,531	9,517	10,325	10,684	11,328	12,045

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	69.31%	73.70%	73.70%	73.70%	73.70%	73.70%	73.70%	73.70%	73.70%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.02%
	30.69%	26.30%	26.30%	26.30%	26.30%	26.30%	26.27%	26.28%	26.28%
No. of Shareholders	8,585	8,523	8,534	8,474	8,470	9,297	9,531	11,328	12,045

* 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.

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Suraj Products Ltd

Suraj Products Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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