Salzer Electronics Ltd
Salzer Electronics Limited is engaged in offering Total and Customised Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. It is also involved in manufacturing CAM Operated Rotary switches & Wire Ducts in India. [1]
- Market Cap ₹ 1,351 Cr.
- Current Price ₹ 764
- High / Low ₹ 1,650 / 750
- Stock P/E 20.1
- Book Value ₹ 300
- Dividend Yield 0.33 %
- ROCE 12.8 %
- ROE 10.6 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.55 times its book value
- Company has a low return on equity of 10.0% 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
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
245 | 283 | 361 | 385 | 443 | 560 | 567 | 606 | 784 | 1,013 | 1,136 | 1,383 | 1,468 | |
214 | 248 | 318 | 340 | 389 | 496 | 502 | 544 | 720 | 922 | 1,025 | 1,256 | 1,333 | |
Operating Profit | 30 | 35 | 43 | 45 | 53 | 64 | 65 | 62 | 64 | 91 | 110 | 127 | 135 |
OPM % | 12% | 13% | 12% | 12% | 12% | 11% | 12% | 10% | 8% | 9% | 10% | 9% | 9% |
1 | 1 | 3 | 5 | 3 | 1 | 1 | 2 | 2 | 1 | 2 | 18 | 20 | |
Interest | 12 | 12 | 13 | 15 | 15 | 20 | 21 | 21 | 20 | 26 | 34 | 41 | 43 |
Depreciation | 8 | 7 | 8 | 9 | 11 | 12 | 14 | 16 | 16 | 16 | 19 | 22 | 23 |
Profit before tax | 12 | 17 | 24 | 26 | 31 | 32 | 30 | 27 | 30 | 50 | 59 | 82 | 89 |
Tax % | 28% | 29% | 30% | 34% | 35% | 26% | 13% | 23% | 25% | 28% | 27% | 24% | |
8 | 12 | 17 | 17 | 20 | 24 | 26 | 21 | 22 | 36 | 43 | 62 | 67 | |
EPS in Rs | 8.21 | 11.65 | 12.50 | 12.09 | 13.35 | 14.99 | 16.51 | 12.93 | 14.07 | 22.47 | 24.85 | 35.21 | 37.66 |
Dividend Payout % | 18% | 13% | 13% | 13% | 12% | 11% | 0% | 12% | 13% | 10% | 10% | 7% |
Compounded Sales Growth | |
---|---|
10 Years: | 17% |
5 Years: | 20% |
3 Years: | 21% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 15% |
3 Years: | 34% |
TTM: | 43% |
Stock Price CAGR | |
---|---|
10 Years: | 12% |
5 Years: | 52% |
3 Years: | 44% |
1 Year: | -22% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 9% |
3 Years: | 10% |
Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 10 | 10 | 14 | 14 | 15 | 16 | 16 | 16 | 16 | 16 | 17 | 18 |
Reserves | 86 | 98 | 182 | 218 | 255 | 271 | 293 | 315 | 335 | 387 | 449 | 513 |
83 | 97 | 109 | 126 | 146 | 148 | 178 | 204 | 252 | 277 | 308 | 418 | |
53 | 70 | 71 | 96 | 121 | 131 | 119 | 139 | 138 | 196 | 196 | 217 | |
Total Liabilities | 232 | 275 | 375 | 454 | 537 | 566 | 607 | 674 | 742 | 876 | 970 | 1,165 |
68 | 78 | 102 | 139 | 166 | 183 | 207 | 211 | 214 | 231 | 254 | 295 | |
CWIP | 0 | 6 | 8 | 9 | 6 | 6 | 3 | 1 | 1 | 1 | 2 | 3 |
Investments | 6 | 6 | 18 | 5 | 3 | 4 | 20 | 21 | 21 | 22 | 25 | 26 |
158 | 186 | 248 | 301 | 361 | 373 | 378 | 441 | 506 | 623 | 689 | 841 | |
Total Assets | 232 | 275 | 375 | 454 | 537 | 566 | 607 | 674 | 742 | 876 | 970 | 1,165 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
14 | 26 | -15 | 1 | 4 | 52 | 36 | 14 | -14 | 23 | 20 | -17 | |
-9 | -22 | -45 | -20 | -41 | -28 | -50 | -17 | -18 | -32 | -39 | -55 | |
-4 | 0 | 64 | 12 | 26 | -19 | 9 | 4 | 29 | 14 | 15 | 72 | |
Net Cash Flow | 1 | 4 | 5 | -7 | -10 | 4 | -5 | 2 | -2 | 5 | -5 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 86 | 100 | 101 | 111 | 97 | 95 | 92 | 108 | 97 | 99 | 107 | 108 |
Inventory Days | 125 | 123 | 95 | 125 | 161 | 132 | 145 | 145 | 141 | 135 | 132 | 138 |
Days Payable | 50 | 49 | 47 | 38 | 42 | 50 | 47 | 48 | 47 | 55 | 66 | 62 |
Cash Conversion Cycle | 162 | 174 | 149 | 198 | 216 | 178 | 190 | 205 | 192 | 180 | 172 | 183 |
Working Capital Days | 29 | 41 | 58 | 60 | 65 | 51 | 52 | 55 | 52 | 53 | 68 | 63 |
ROCE % | 14% | 15% | 14% | 12% | 12% | 12% | 11% | 9% | 9% | 12% | 13% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
10h - Salzer granted patent (07-Oct-2025) for 1000V disconnecting and earthing device for traction and locomotive systems.
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Closure of Trading Window
29 Sep - Trading window closed from Oct 01, 2025 until 48 hours after Q2/H1 results for period ending 30.09.2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
25 Sep - Management met Agrawal Family Office in Coimbatore on 24 Sep 2025; no UPSI.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
17 Sep - Of Plant visit by an investor - Agrawal Family Office on 24.09.2025
- Shareholder Meeting / Postal Ballot-Outcome of AGM 12 Sep
Annual reports
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Financial Year 2011
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Product Portfolio[1][2]
a) Industrial SwitchGear Products: Transformers, Terminal Blocks, Rotary Switches, Isolators, General Purpose Relays, Wiring Ducts, MPCBs (Motor Protection Circuit Breakers), Contactors & OLRs (Overload Relays), Control Panels and Wire Harness
b) Building Electrical Products: Modular Switches, Wires & Cables, MCBs (Miniature Circuit Breakers) and Changeovers
c) Wire & Cable Products: Wires & Cables, Flexible Bus Bars, Enamelled Wires, Bunched Conductors and Tinned Copper Wires
d) Energy Management Products: Energy Savers and Street Light Controllers
e) Smart Meters: Single Phase Meters and Three Phase Meters
f) Customized OEM Products: Panels, CT’s (Current Transformers), Terminal Sockets, Coils/Inductors.