Suraj Ltd
Incorporated in 1994, Suraj Ltd manufactures tube and tube fittings of basic iron and steel[1]
- Market Cap ₹ 436 Cr.
- Current Price ₹ 234
- High / Low ₹ 440 / 205
- Stock P/E
- Book Value ₹ 72.2
- Dividend Yield 0.64 %
- ROCE 11.9 %
- ROE 8.89 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 5.87% over past five years.
- Earnings include an other income of Rs.4.90 Cr.
- Debtor days have increased from 40.7 to 51.3 days.
* 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 Industrial Products Iron & Steel Products
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 238 | 248 | 153 | 196 | 207 | 179 | 176 | 188 | 344 | 367 | 331 | 234 | 221 | |
| 211 | 224 | 136 | 180 | 190 | 162 | 159 | 175 | 331 | 332 | 291 | 205 | 210 | |
| Operating Profit | 27 | 24 | 17 | 16 | 17 | 18 | 17 | 14 | 12 | 35 | 39 | 28 | 12 |
| OPM % | 11% | 10% | 11% | 8% | 8% | 10% | 10% | 7% | 4% | 10% | 12% | 12% | 5% |
| 1 | 3 | 1 | 0 | 0 | 0 | 1 | 4 | 5 | 6 | 3 | 4 | 5 | |
| Interest | 11 | 10 | 10 | 9 | 10 | 10 | 10 | 9 | 6 | 4 | 4 | 5 | 5 |
| Depreciation | 11 | 7 | 7 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 9 | 11 | 11 |
| Profit before tax | 6 | 9 | 1 | 1 | 1 | 1 | 2 | 2 | 5 | 29 | 30 | 17 | -0 |
| Tax % | 36% | 26% | 25% | 38% | 60% | -48% | 38% | 29% | 35% | 30% | 31% | 31% | |
| 4 | 7 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 20 | 21 | 12 | -0 | |
| EPS in Rs | 1.91 | 3.58 | 0.20 | 0.22 | 0.20 | 0.73 | 0.50 | 0.71 | 1.56 | 10.96 | 11.25 | 6.38 | -0.23 |
| Dividend Payout % | 79% | 42% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 13% | 24% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 6% |
| 3 Years: | -12% |
| TTM: | -12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 63% |
| 3 Years: | 55% |
| TTM: | -102% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 54% |
| 3 Years: | 50% |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 11% |
| 3 Years: | 15% |
| Last Year: | 9% |
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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 18 | 18 | 18 | 18 |
| Reserves | 63 | 66 | 66 | 66 | 66 | 68 | 69 | 70 | 73 | 85 | 103 | 112 | 114 |
| 121 | 130 | 122 | 116 | 112 | 99 | 81 | 56 | 35 | 22 | 34 | 64 | 44 | |
| 22 | 20 | 8 | 28 | 16 | 12 | 20 | 24 | 30 | 20 | 29 | 25 | 26 | |
| Total Liabilities | 225 | 235 | 216 | 229 | 213 | 198 | 188 | 169 | 158 | 146 | 185 | 220 | 202 |
| 78 | 74 | 68 | 63 | 61 | 57 | 54 | 49 | 49 | 60 | 85 | 89 | 86 | |
| CWIP | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 13 | 13 |
| 147 | 160 | 147 | 164 | 152 | 141 | 134 | 119 | 109 | 86 | 87 | 118 | 103 | |
| Total Assets | 225 | 235 | 216 | 229 | 213 | 198 | 188 | 169 | 158 | 146 | 185 | 220 | 202 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 | 1 | 10 | 16 | 14 | 26 | 30 | 33 | 33 | 45 | 41 | -9 | |
| -4 | -6 | 5 | -2 | -1 | -2 | -4 | -2 | -7 | -19 | -47 | -14 | |
| -24 | 2 | -14 | -13 | -14 | -23 | -28 | -34 | -26 | -26 | 6 | 23 | |
| Net Cash Flow | 2 | -3 | 0 | 0 | -1 | 1 | -1 | -3 | 0 | -0 | -0 | -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 | 31 | 40 | 78 | 79 | 74 | 62 | 45 | 48 | 30 | 33 | 38 | 51 |
| Inventory Days | 225 | 212 | 343 | 242 | 220 | 234 | 273 | 194 | 80 | 38 | 39 | 133 |
| Days Payable | 13 | 15 | 6 | 42 | 20 | 16 | 36 | 40 | 27 | 7 | 22 | 31 |
| Cash Conversion Cycle | 244 | 237 | 415 | 279 | 274 | 281 | 282 | 203 | 82 | 64 | 55 | 153 |
| Working Capital Days | 5 | 4 | 33 | 32 | 41 | 55 | 65 | 78 | 45 | 33 | 11 | 31 |
| ROCE % | 8% | 8% | 5% | 5% | 5% | 6% | 7% | 7% | 8% | 26% | 24% | 12% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Cessation
24 Jan - Internal auditor Sandip S. Gandhi (M/s S.S. Gandhi & Associates) died 22 Jan 2026; replacement to be appointed.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Jan - Newspaper publication of Financial Results of Quarter and Nine months Ended on 31St December, 2025.
-
As The Dividend Have Been Declared By The Board, The Record Date For The Same Pursuant To Regulation 42 Of SEBI (LODR) Regulations, 2015, Shall Be Friday, January 23, 2026
16 Jan - Board declared interim dividend; record date set as January 23, 2026; results for quarter ended Dec 31, 2025.
-
Considered And Approved The Standalone And Consolidated Un-Audited Financial Results Along With The Limited Review Report For The Quarter And Nine-Months Ended 31St December, 2025.
16 Jan - Q3 and nine-month results approved; interim dividend Rs1.50/share; record date Jan 23, 2026.
- Corporate Action-Board approves Dividend 16 Jan
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1]
SL is a part of Suraj Group. It manufactures
and sells stainless Steel Seamless Pipes, Tubes & ‘U’ Tubes, flanges and fittings with electro-polishing, etc., and specializes in tubing for Heat exchangers, LP/HP Heater, Condensers, Heating Elements and duly annealed, pickled, tubes with 30-meters length tubes