S & S Power Switchgear Ltd

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S & S Power Switchgear Ltd

₹ 289 5.28%
15 Oct 1:20 p.m.
sspower.com BSE: 517273 NSE: S&SPOWER
About

S&S Power Switchgear Ltd is the listed holding company of an electrical-engineering group supplying high-voltage disconnectors and retrofit services through SSPSE, protection and control panels through Acrastyle UK, LV panels through APIL and automation systems for aluminium smelters through HART. The group serves utilities and industrial customers across India, the UK and export markets.[1][2]

Key Points

Business Overview:[1]
SSPSE manufactures 36–420kV and new 800kV-class disconnectors and provides
retrofit, spares and field services. Acrastyle
UK supplies protection, control and monitoring panels, while HART supplies pot-control and furnace-control systems for aluminium plants. [2]

Website BSE NSE
  • Market Cap ₹ 357 Cr.
  • Current Price ₹ 289
  • High / Low ₹ 445 / 194
  • Stock P/E 575
  • Book Value ₹ 88.6
  • Dividend Yield 0.00 %
  • ROCE -1.49 %
  • ROE -1.45 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 3.21 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -4.47% over last 3 years.

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
0.37 0.37 0.36 0.47 0.99 0.98 0.90 0.98 1.01 1.03 1.03 1.04 1.06
0.51 0.51 0.44 0.60 0.71 1.97 1.16 2.01 2.20 1.84 2.00 2.11 2.20
Operating Profit -0.14 -0.14 -0.08 -0.13 0.28 -0.99 -0.26 -1.03 -1.19 -0.81 -0.97 -1.07 -1.14
OPM % -37.84% -37.84% -22.22% -27.66% 28.28% -101.02% -28.89% -105.10% -117.82% -78.64% -94.17% -102.88% -107.55%
0.01 0.01 0.01 0.02 0.20 0.16 0.02 0.00 0.01 0.03 0.29 1.86 2.63
Interest 0.43 0.46 0.46 0.45 0.52 0.44 0.55 0.55 0.54 0.57 0.60 0.61 0.58
Depreciation 0.10 0.10 0.10 0.10 0.09 0.09 0.09 0.10 0.02 0.02 0.02 0.01 0.00
Profit before tax -0.66 -0.69 -0.63 -0.66 -0.13 -1.36 -0.88 -1.68 -1.74 -1.37 -1.30 0.17 0.91
Tax % -1.52% 0.00% 0.00% -10.61% 0.00% -5.88% -1.14% 22.62% -2.30% -202.19% 0.00% 70.59% 47.25%
-0.65 -0.69 -0.63 -0.59 -0.12 -1.28 -0.87 -2.05 -1.70 1.40 -1.31 0.05 0.48
EPS in Rs -1.05 -1.11 -1.02 -0.95 -0.10 -1.04 -0.70 -1.66 -1.38 1.13 -1.06 0.04 0.39
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1.59 2.59 0.34 0.70 0.51 0.86 0.57 0.58 0.59 0.04 0.10 0.00 4.16
2.15 3.35 3.13 3.89 4.02 5.01 3.11 2.87 2.69 2.05 5.84 8.16 8.15
Operating Profit -0.56 -0.76 -2.79 -3.19 -3.51 -4.15 -2.54 -2.29 -2.10 -2.01 -5.74 -8.16 -3.99
OPM % -35.22% -29.34% -820.59% -455.71% -688.24% -482.56% -445.61% -394.83% -355.93% -5,025.00% -5,740.00% -98.06% -95.91%
1.40 1.37 2.47 3.29 5.60 -1.11 3.48 3.36 13.27 1.56 4.14 6.31 4.81
Interest 0.41 0.46 0.63 0.88 1.12 1.25 1.57 1.54 1.26 1.79 2.08 2.32 2.36
Depreciation 0.16 0.17 0.15 0.15 0.16 0.47 0.47 0.48 0.38 0.39 0.36 0.08 0.05
Profit before tax 0.27 -0.02 -1.10 -0.93 0.81 -6.98 -1.10 -0.95 9.53 -2.63 -4.04 -4.25 -1.59
Tax % 0.00% 0.00% -6.36% 11.83% 1.23% -0.86% 0.00% 2.11% 0.73% -3.04% 7.18% -63.29%
0.27 -0.02 -1.02 -1.04 0.80 -6.92 -1.10 -0.96 9.45 -2.55 -4.33 -1.56 0.62
EPS in Rs 0.44 -0.03 -1.65 -1.68 1.29 -11.16 -1.77 -1.55 15.24 -4.11 -3.51 -1.26 0.50
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 7%
Compounded Profit Growth
10 Years: %
5 Years: -10%
3 Years: %
TTM: 111%
Stock Price CAGR
10 Years: %
5 Years: 56%
3 Years: 40%
1 Year: -19%
Return on Equity
10 Years: -4%
5 Years: -5%
3 Years: -4%
Last Year: -1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 6.20 6.20 6.20 6.20 6.20 6.20 6.20 6.20 6.20 6.20 12.34 12.34
Reserves 15.61 15.59 13.95 12.98 13.74 6.82 5.89 4.89 14.38 11.98 93.15 97.02
7.37 7.37 11.06 14.76 13.94 15.48 15.96 15.13 17.29 18.87 21.01 22.52
5.21 5.88 4.67 4.50 3.79 4.78 4.05 4.44 2.99 2.96 2.57 3.38
Total Liabilities 34.39 35.04 35.88 38.44 37.67 33.28 32.10 30.66 40.86 40.01 129.07 135.26
3.27 3.14 2.90 2.78 2.87 3.31 2.88 0.49 0.84 0.48 0.12 0.04
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 16.95 16.95 15.75 18.74 18.74 13.02 13.02 13.02 13.02 27.28 80.42 80.42
14.17 14.95 17.23 16.92 16.06 16.95 16.20 17.15 27.00 12.25 48.53 54.80
Total Assets 34.39 35.04 35.88 38.44 37.67 33.28 32.10 30.66 40.86 40.01 129.07 135.26

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-0.64 0.12 -0.41 0.06 0.45 -0.69 0.48 -0.18 1.23 0.22 -2.02 -3.91
0.37 0.23 -1.57 -2.92 1.48 0.90 0.57 0.72 11.54 14.26 -52.61 0.00
0.34 -0.46 2.01 2.83 -1.94 0.09 -1.32 -0.57 -12.78 -14.47 54.93 3.63
Net Cash Flow 0.07 -0.11 0.03 -0.03 -0.01 0.30 -0.26 -0.02 -0.01 0.00 0.30 -0.28
Free Cash Flow -0.73 0.08 -0.22 0.03 0.45 -0.85 0.45 -0.47 11.28 0.19 -2.02 -3.92
CFO/OP 114% -16% 15% -2% -19% 17% -11% 7% -68% 9% 38% 47%

Ratios

Standalone / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 484.37 404.46 3,156.18 1,209.71 916.08 645.12 204.91 654.48 210.34 821.25 2,664.50
Inventory Days 381.59 182.50 385.86 107.70 419.07 101.86 317.69 1,733.75 476.73 3,589.17 83.65 0.00
Days Payable 1,169.66 488.73 1,480.86 879.59 621.85 237.67 358.24 1,569.50 402.24 5,110.00 296.56
Cash Conversion Cycle -303.70 98.23 2,061.18 437.83 713.30 509.30 164.36 818.73 284.83 -699.58 2,451.58
Working Capital Days 808.05 507.34 -9,146.47 -6,929.79 -9,132.16 -6,137.09 -9,887.02 -7,608.36 -284.58 -7,391.25 3,248.50
ROCE % 2.37% 1.30% -1.72% 0.00% 5.90% -0.03% 1.66% 2.17% 2.31% -2.24% -2.40% -1.49%

Insights

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Mar 2024 Mar 2025 Mar 2026
New Orders (Order Inflow)
INR Crore

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Order Book (Backlog)
INR Crore
UK Electricity Utility Framework Customers (Acrastyle UK)
utilities
Countries Served (SSPSE Disconnector Exports)
countries
Disconnector Units Deployed (Cumulative, SSPSE)
units
Protection & Control Panel Units Deployed (Cumulative, Acrastyle UK)
units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
50.21% 50.21% 50.21% 74.97% 74.98% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03%
0.41% 0.41% 0.41% 0.21% 0.21% 0.21% 0.21% 0.21% 0.24% 0.24% 0.24% 0.25%
49.38% 49.38% 49.38% 24.82% 24.80% 24.82% 24.82% 24.81% 24.79% 24.79% 24.79% 24.76%
No. of Shareholders 19,66919,62819,56719,62519,56019,67619,87819,68019,68719,77719,64619,379

* 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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