Surana Solar Ltd

Surana Solar Ltd

₹ 43.8 4.16%
18 Apr - close price
About

Incorporated in 2006, Surana Solar Ltd is in the business of manufacturing Solar Photovoltic Modules, generation of Wind and Solar Power energy and trading of other solar related products[1]

Key Points

Business Overview:[1][2]
SSL is a part of the Surana Group. It is a manufacturer of Solar Photovoltaic Modules and is also into EPC of Power Projects on turnkey basis on MW scale. It offers grid connected and grid off Photovoltaic Power plants in open
areas and provides engineering, procurement and construction within a range of 1 MW to 15 MW

  • Market Cap 216 Cr.
  • Current Price 43.8
  • High / Low 48.0 / 18.2
  • Stock P/E
  • Book Value 11.4
  • Dividend Yield 0.00 %
  • ROCE -1.44 %
  • ROE -2.22 %
  • Face Value 5.00

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 3.84 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -12.4%
  • The company has delivered a poor sales growth of -12.6% over past five years.
  • Company has a low return on equity of -0.39% over last 3 years.
  • Earnings include an other income of Rs.1.16 Cr.
  • Working capital days have increased from 436 days to 665 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
15.62 3.74 9.78 2.62 8.69 9.30 11.18 13.90 7.80 6.60 2.77 4.40 3.93
14.20 2.38 8.35 2.37 7.76 9.74 10.58 13.21 7.30 6.22 4.21 3.90 3.63
Operating Profit 1.42 1.36 1.43 0.25 0.93 -0.44 0.60 0.69 0.50 0.38 -1.44 0.50 0.30
OPM % 9.09% 36.36% 14.62% 9.54% 10.70% -4.73% 5.37% 4.96% 6.41% 5.76% -51.99% 11.36% 7.63%
0.38 0.17 0.13 0.34 0.23 3.88 0.21 0.16 0.53 0.65 0.32 0.28 0.10
Interest 0.15 0.06 0.13 0.12 0.23 0.12 0.03 0.03 0.01 0.01 0.03 0.01 0.03
Depreciation 1.47 1.14 1.05 0.10 0.79 0.61 0.64 0.63 0.75 0.66 0.54 0.44 0.27
Profit before tax 0.18 0.33 0.38 0.37 0.14 2.71 0.14 0.19 0.27 0.36 -1.69 0.33 0.10
Tax % 88.89% 78.79% 57.89% 16.22% -114.29% 29.52% 28.57% 89.47% 7.41% 33.33% 14.20% 66.67% 260.00%
0.02 0.07 0.16 0.31 0.31 1.91 0.10 0.03 0.25 0.24 -1.45 0.11 -0.15
EPS in Rs 0.00 0.01 0.03 0.06 0.06 0.39 0.02 0.01 0.05 0.05 -0.29 0.02 -0.03
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
92.55 129.05 125.38 121.05 84.09 39.12 34.74 33.17 27.94 24.83 42.18 17.71
82.88 118.13 107.36 111.70 76.03 33.09 29.93 27.62 22.57 20.86 40.80 17.78
Operating Profit 9.67 10.92 18.02 9.35 8.06 6.03 4.81 5.55 5.37 3.97 1.38 -0.07
OPM % 10.45% 8.46% 14.37% 7.72% 9.58% 15.41% 13.85% 16.73% 19.22% 15.99% 3.27% -0.40%
-0.78 1.44 0.38 1.19 0.41 0.58 1.27 1.01 0.41 0.87 4.75 1.16
Interest 2.98 2.91 5.29 4.44 3.28 2.16 1.94 0.86 0.82 0.54 0.19 0.08
Depreciation 2.32 4.09 2.93 2.99 2.75 3.17 2.84 4.95 4.55 3.08 2.63 1.91
Profit before tax 3.59 5.36 10.18 3.11 2.44 1.28 1.30 0.75 0.41 1.22 3.31 -0.90
Tax % 27.86% 43.28% 17.19% 31.51% 31.56% 34.38% 23.08% 21.33% 48.78% 30.33% 31.12% -40.00%
2.59 3.03 8.44 2.13 1.67 0.84 1.00 0.59 0.21 0.85 2.28 -1.26
EPS in Rs 0.53 0.62 1.72 0.43 0.34 0.17 0.20 0.12 0.04 0.17 0.46 -0.26
Dividend Payout % 94.98% 81.19% 29.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -18%
5 Years: -13%
3 Years: -14%
TTM: -58%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -425%
Stock Price CAGR
10 Years: 17%
5 Years: 43%
3 Years: 72%
1 Year: 130%
Return on Equity
10 Years: 3%
5 Years: 0%
3 Years: 0%
Last Year: -2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 24.60 24.60 24.60 24.60 24.60 24.60 24.60 24.60 24.60 24.60 24.60 24.60
Reserves 17.62 17.78 23.25 25.37 27.04 27.89 28.89 29.48 29.69 30.54 32.82 31.56
29.43 41.76 66.18 48.57 22.84 25.11 22.54 6.50 7.35 10.38 0.00 0.00
23.15 18.27 11.83 5.77 10.23 3.06 3.12 3.78 2.34 2.98 2.02 2.71
Total Liabilities 94.80 102.41 125.86 104.31 84.71 80.66 79.15 64.36 63.98 68.50 59.44 58.87
32.21 30.71 29.57 27.20 29.03 25.88 27.06 30.68 26.40 23.61 19.65 13.85
CWIP 11.46 13.63 11.85 12.50 11.45 11.44 11.44 0.00 0.00 0.00 0.00 0.00
Investments 0.03 0.02 0.02 0.00 0.00 0.00 0.00 0.00 4.85 0.05 5.62 8.04
51.10 58.05 84.42 64.61 44.23 43.34 40.65 33.68 32.73 44.84 34.17 36.98
Total Assets 94.80 102.41 125.86 104.31 84.71 80.66 79.15 64.36 63.98 68.50 59.44 58.87

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12.26 -3.42 -14.87 20.99 34.12 -1.61 8.67 10.80 5.91 -8.16 10.14
-8.88 -2.62 0.18 -1.03 -3.36 0.14 -3.98 3.76 -5.10 5.16 0.12
-0.31 5.65 14.34 -20.27 -30.43 1.13 -2.62 -16.81 -0.79 2.95 -10.15
Net Cash Flow 3.07 -0.39 -0.35 -0.31 0.33 -0.34 2.07 -2.25 0.03 -0.05 0.12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 37.27 37.05 30.60 52.01 95.15 31.72 15.34 78.35 106.47 52.18 2.94 4.53
Inventory Days 154.09 129.21 232.26 159.37 95.62 383.47 415.43 200.10 157.90 418.82 134.50 551.01
Days Payable 88.34 24.99 8.25 3.36 10.92 4.90 8.31 6.78 13.52 16.79 5.19 7.01
Cash Conversion Cycle 103.01 141.28 254.61 208.03 179.84 410.30 422.46 271.67 250.85 454.21 132.24 548.53
Working Capital Days 84.95 97.55 188.58 165.45 125.18 356.88 375.51 333.75 391.00 448.20 193.06 665.49
ROCE % 11.22% 10.30% 15.97% 7.10% 6.61% 4.52% 4.22% 1.01% 2.01% 2.75% -0.36%

Shareholding Pattern

Numbers in percentages

9 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
70.03% 70.34% 66.90% 65.23% 65.09% 64.77% 64.72% 64.85% 64.90% 64.54% 62.31% 49.94%
0.00% 0.00% 0.06% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.04% 0.04% 0.03% 0.04% 0.04% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
29.93% 29.62% 33.00% 34.74% 34.88% 35.19% 35.24% 35.12% 35.07% 35.43% 37.65% 50.02%
No. of Shareholders 16,73519,29629,82540,41340,96641,94241,11040,37941,40846,51355,68589,630

* 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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