BSE: 531638 | NSE: SURAJLTD | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Suraj Ltd is a average quality company.
The key valuation ratios of Suraj Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Suraj Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.3% | 4.8% | 4.9% | 5.3% | 5.9% | 6.7% | 6.8% | 7.5% | 25.9% | 23.9% | - |
| Value Creation Index ⓘ | -0.3 | -0.7 | -0.7 | -0.6 | -0.6 | -0.5 | -0.5 | -0.5 | 0.9 | 0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 248 | 154 | 196 | 207 | 179 | 176 | 188 | 344 | 367 | 331 | 281 |
| Sales YoY Gr. | - | -38.2% | 27.9% | 5.5% | -13.3% | -2.1% | 7.2% | 82.5% | 6.7% | -9.8% | - |
| Adj EPS ⓘ | 3.5 | 0.8 | 0.1 | -1.1 | 0.8 | 0.2 | -0.3 | -0.3 | 8.9 | 10 | 11.5 |
| YoY Gr. | - | -76.6% | -94% | -2340% | NA | -82.1% | -320% | NA | NA | 12.9% | - |
| BVPS (₹) ⓘ | 44.3 | 44.5 | 44.2 | 44.4 | 45.1 | 45.6 | 46.3 | 47.9 | 56.5 | 66.3 | 71 |
| Adj Net Profit ⓘ | 6.8 | 1.6 | 0.1 | -2.2 | 1.6 | 0.3 | -0.6 | -0.5 | 16.3 | 18.4 | 21 |
| Cash Flow from Ops. ⓘ | 1 | 9.6 | 15.9 | 14.5 | 26.3 | 30.5 | 32.5 | 33.3 | 44.6 | 40.8 | - |
| Debt/CF from Ops. ⓘ | 132.2 | 12.7 | 7.3 | 7.7 | 3.8 | 2.7 | 1.7 | 1.1 | 0.5 | 0.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3.2% | 13% | 20.6% | -9.8% | ||||
| Adj EPS ⓘ | 12.2% | 64.1% | NA | 12.9% | ||||
| BVPSⓘ | 4.6% | 8% | 12.7% | 17.3% | ||||
| Share Price | 18.1% | 63.8% | 104.3% | 138.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.2 | 1.9 | 0.1 | -2.5 | 1.9 | 0.3 | -0.7 | -0.5 | 16.6 | 16.3 | 16.8 |
| Op. Profit Mgn % ⓘ | 10.3 | 11.9 | 7.9 | 6.3 | 10 | 9.8 | 7.2 | 3.6 | 9.5 | 11.9 | 14.3 |
| Net Profit Mgn % ⓘ | 2.8 | 1.1 | 0.1 | -1 | 0.9 | 0.2 | -0.3 | -0.1 | 4.4 | 5.6 | 7.5 |
| Debt to Equity ⓘ | 1.5 | 1.4 | 1.4 | 1.3 | 1.1 | 0.9 | 0.6 | 0.4 | 0.2 | 0.3 | 0 |
| Working Cap Days ⓘ | 204 | 334 | 266 | 270 | 289 | 278 | 242 | 120 | 96 | 95 | 62 |
| Cash Conv. Cycle ⓘ | 175 | 300 | 225 | 214 | 234 | 218 | 181 | 81 | 61 | 55 | 11 |
Return on Equity has increased versus last 3 years average to 16.80%
Sales growth is growing at healthy rate in last 3 years 20.63%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -17.38%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.5 | 13.6 |
| TTM Sales (₹ Cr.) | 281 | 281 |
| BVPS (₹.) ⓘ | 71 | 73.4 |
| Reserves (₹ Cr.) ⓘ | 112 | 116 |
| P/BV ⓘ | 6.30 | 6.10 |
| PE ⓘ | 38.90 | 32.91 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 166.15 / 480.00 |
| All Time Low / High (₹) | 0.43 / 480.00 |
| Market Cap (₹ Cr.) | 822 |
| Equity (₹ Cr.) | 18.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 248 | 153 | 196 | 207 | 179 | 176 | 188 | 344 | 367 | 331 |
| Operating Expenses ⓘ | 225 | 137 | 181 | 194 | 162 | 159 | 175 | 331 | 332 | 291 |
| Manufacturing Costs | 10 | 9 | 12 | 16 | 14 | 15 | 14 | 32 | 37 | 31 |
| Material Costs | 193 | 107 | 149 | 147 | 131 | 124 | 145 | 280 | 269 | 228 |
| Employee Cost | 10 | 9 | 11 | 11 | 11 | 14 | 12 | 14 | 17 | 22 |
| Other Costs ⓘ | 11 | 11 | 8 | 21 | 5 | 6 | 4 | 6 | 8 | 10 |
| Operating Profit ⓘ | 24 | 17 | 16 | 13 | 18 | 17 | 14 | 12 | 35 | 39 |
| Operating Profit Margin (%) | 9.6% | 10.8% | 7.9% | 6.3% | 9.8% | 9.8% | 7.2% | 3.6% | 9.5% | 11.9% |
| Other Income ⓘ | 3 | 1 | 1 | 4 | 0 | 1 | 4 | 5 | 6 | 3 |
| Interest ⓘ | 10 | 10 | 9 | 10 | 10 | 10 | 9 | 6 | 4 | 4 |
| Depreciation ⓘ | 7 | 7 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 9 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 9 | 1 | 1 | 1 | 1 | 2 | 2 | 5 | 29 | 30 |
| Tax ⓘ | 2 | 0 | 0 | 1 | 0 | 1 | 1 | 2 | 8 | 9 |
| Profit After Tax | 7 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 20 | 21 |
| PAT Margin (%) | 2.8% | 0.3% | 0.2% | 0.2% | 0.8% | 0.6% | 0.7% | 0.9% | 5.5% | 6.2% |
| Adjusted EPS (₹) | 3.6 | 0.2 | 0.2 | 0.2 | 0.7 | 0.5 | 0.7 | 1.6 | 11.0 | 11.3 |
| Dividend Payout Ratio (%) | 42% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 13% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 85 | 86 | 85 | 86 | 87 | 88 | 89 | 92 | 104 | 122 |
| Share Capital ⓘ | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 18 | 18 |
| Reserves ⓘ | 66 | 66 | 66 | 66 | 68 | 69 | 70 | 73 | 85 | 103 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 124 | 122 | 116 | 112 | 99 | 81 | 56 | 35 | 22 | 34 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 124 | 122 | 116 | 112 | 99 | 81 | 56 | 35 | 22 | 34 |
| Trade Payables | 8 | 2 | 17 | 8 | 6 | 12 | 16 | 21 | 5 | 14 |
| Others Liabilities ⓘ | 17 | 6 | 10 | 8 | 7 | 8 | 8 | 9 | 15 | 16 |
| Total Liabilities ⓘ | 235 | 216 | 229 | 213 | 198 | 188 | 169 | 158 | 146 | 185 |
Fixed Assets | ||||||||||
| Gross Block | 151 | 152 | 152 | 157 | 159 | 163 | 165 | 172 | 190 | 224 |
| Accumulated Depreciation | 77 | 84 | 90 | 96 | 103 | 109 | 116 | 123 | 131 | 139 |
| Net Fixed Assetsⓘ | 74 | 68 | 63 | 61 | 57 | 54 | 49 | 49 | 60 | 85 |
| CWIP ⓘ | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13 |
| Inventories | 112 | 101 | 99 | 88 | 84 | 93 | 77 | 61 | 28 | 24 |
| Trade Receivables | 27 | 33 | 42 | 42 | 31 | 22 | 25 | 28 | 33 | 34 |
| Cash Equivalents | 11 | 5 | 5 | 4 | 5 | 3 | 0 | 1 | 1 | 0 |
| Others Assetsⓘ | 11 | 8 | 17 | 18 | 22 | 17 | 17 | 19 | 24 | 28 |
| Total Assets ⓘ | 235 | 216 | 229 | 213 | 198 | 188 | 169 | 158 | 146 | 185 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | 10 | 16 | 14 | 26 | 31 | 33 | 33 | 45 | 41 |
| PBT ⓘ | 9 | 1 | 1 | 1 | 1 | 2 | 2 | 5 | 29 | 30 |
| Adjustment ⓘ | 13 | 15 | 14 | 16 | 17 | 16 | 15 | 13 | 12 | 12 |
| Changes in Working Capital ⓘ | -18 | -3 | 2 | -2 | 9 | 13 | 16 | 17 | 13 | 11 |
| Tax Paid ⓘ | -3 | -3 | 0 | -1 | -1 | -1 | -1 | -1 | -8 | -13 |
| Cash Flow From Investing Activity ⓘ | -6 | 5 | -2 | -1 | -2 | -4 | -2 | -7 | -19 | -47 |
| Capex | -2 | -2 | -3 | -2 | -2 | -4 | -2 | -7 | -19 | -34 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13 |
| Others ⓘ | -4 | 6 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 2 | -14 | -13 | -14 | -23 | -28 | -34 | -26 | -26 | 6 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -8 | -8 | -8 | -10 | -10 | -10 | -9 | -6 | -4 | -3 |
| Dividend Paid ⓘ | -3 | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 |
| Others ⓘ | 18 | -3 | -6 | -5 | -13 | -18 | -25 | -20 | -22 | 12 |
| Net Cash Flow ⓘ | -3 | 0 | 0 | -1 | 1 | -1 | -3 | 0 | 0 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.24 | 0.46 | 0.5 | 0.45 | 1.63 | 1.11 | 1.55 | 3.31 | 20.54 | 18.33 |
| ROCE (%) | 9.34 | 4.75 | 4.9 | 5.26 | 5.94 | 6.7 | 6.84 | 7.49 | 25.85 | 23.89 |
| Asset Turnover Ratio | 1.12 | 0.71 | 0.93 | 0.94 | 0.87 | 0.91 | 1.06 | 2.11 | 2.42 | 2 |
| PAT to CFO Conversion(x) | 0.14 | N/A | N/A | N/A | 26 | 31 | 33 | 11 | 2.25 | 1.95 | Working Capital Days |
| Receivable Days | 34 | 69 | 67 | 74 | 74 | 54 | 45 | 28 | 31 | 37 |
| Inventory Days | 153 | 244 | 177 | 165 | 175 | 184 | 165 | 73 | 44 | 29 |
| Payable Days | 13 | 16 | 23 | 31 | 19 | 26 | 35 | 24 | 18 | 15 |
Suraj, earlier known as Suraj Stainless, a Suraj Group company, was founded by Tarachand Balaji Shah in 1960. Suraj Group established has spearheaded the mini-revolution with the aim to be one of the market leaders in the country. In 2011 company changed its name from Suraj Stainless Ltd to Suraj Ltd.
The company manufactures Stainless Steel Seamless & Welded Pipes, Tubes & ‘U’ Tubes are manufactured and tested to international Standards, under strict supervision of highly qualified and experienced technocrats, to satisfy and meet the most critical demands of reputed industrial users for various applications, sizes, grades and specifications as per ASTM and also conforming other international GradeStandards Equivalent to ASME, DIN, NFA, JIS, etc.
Suraj Stainless specialises in tubing for Heat exchangers, Heater, Condensers, Heating Elements and Instrumentation with facility of annealed, pickled, cold rolled and weld bead removed tubes upto 22-meters long tubes. Suraj Stainless is a Govt. of India recognized Export House and is selling its premium products in India and abroad to more than 53 countries in all over the world.
All products of Suraj Stainless Ltd.' have to meet a very high standard, set by stringent quality specifications and norms. All process parameters and conditions are developed and constantly monitored throughout the entire manufacturing process.
A quality system to ISO 9001 : 2000 , AD 2000 – Merkblatt / WO , and PED – 97 /23/EC as outlined in this manual has been developed and implemented to ensure that all the customer requirements is satisfied. The quality system is applicable to all departments and all activities undertaken by the company for manufacturing of Stainless Steel Seamless/Welded Pipes, Tubes and ‘U’ Tubes.
In 2010 commenced Production of Large Diameter Fusion Welded Pipes to Specification ASTM A-358. A-409, A-779, A-928
Product range of the company includes:
Seamless ferritic and austenitic alloy steel boiler, super heater and heat Exchanger tubes
The company is specialized in tubing for equipment like
- Heat Exchanger- Heating Elements- Surface Condensers- Evaporators- Digesters- Instrumentation and Fluid Pipings.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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