BSE: 518075 | NSE: | Steel/Sponge Iron/Pig Iron | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Suraj Products Ltd is a average quality company.
The key valuation ratios of Suraj Products 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 Weak which suggest that the price of Suraj Products Ltd is likely to Fall 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 % ⓘ | 11.4% | 5.5% | 5.6% | 10.1% | 11.4% | 8.6% | 17.2% | 27.4% | 27% | 26.1% | - |
| Value Creation Index ⓘ | -0.2 | -0.6 | -0.6 | -0.3 | -0.2 | -0.4 | 0.2 | 1.0 | 0.9 | 0.9 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 92.8 | 55.6 | 59.8 | 69.8 | 116 | 118 | 218 | 237 | 285 | 345 | 334 |
| Sales YoY Gr. | - | -40.1% | 7.5% | 16.8% | 66.7% | 1.4% | 84.5% | 8.8% | 20.3% | 21% | - |
| Adj EPS ⓘ | 2.2 | 0.4 | 0.8 | 3.1 | 5.3 | 4.7 | 8 | 20.7 | 22.8 | 25.4 | 23.2 |
| YoY Gr. | - | -84.2% | 137.1% | 278.3% | 69.8% | -12.4% | 71.7% | 157.9% | 10.3% | 11.3% | - |
| BVPS (₹) ⓘ | 25.4 | 25.8 | 26.5 | 29.7 | 35.2 | 39.9 | 48.1 | 68.7 | 90.5 | 114.4 | 124 |
| Adj Net Profit ⓘ | 2.5 | 0.4 | 1 | 3.6 | 6.1 | 5.3 | 9.1 | 23.6 | 26 | 28.9 | 26 |
| Cash Flow from Ops. ⓘ | 21.7 | -3.5 | 6.6 | 8.5 | 20 | -0.3 | 32.8 | 12.7 | 32.7 | 31.9 | - |
| Debt/CF from Ops. ⓘ | 0.8 | -7 | 6.8 | 6 | 3.2 | -334.9 | 2 | 4.8 | 1.6 | 1.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.7% | 24.3% | 16.6% | 21% | ||||
| Adj EPS ⓘ | 31.1% | 36.6% | 46.8% | 11.3% | ||||
| BVPSⓘ | 18.2% | 26.6% | 33.5% | 26.4% | ||||
| Share Price | 39.3% | 113.4% | 90.6% | 72.2% | ||||
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 % ⓘ | 8.9 | 1.4 | 3.2 | 11.2 | 16.4 | 12.4 | 18.2 | 35.4 | 28.7 | 24.8 | 19.5 |
| Op. Profit Mgn % ⓘ | 9.3 | 8.5 | 8.8 | 16.5 | 12.1 | 14 | 14.2 | 18.4 | 17 | 14.8 | 13.6 |
| Net Profit Mgn % ⓘ | 2.7 | 0.7 | 1.6 | 5.1 | 5.2 | 4.5 | 4.2 | 10 | 9.1 | 8.4 | 7.9 |
| Debt to Equity ⓘ | 0.6 | 0.8 | 1.5 | 1.5 | 1.6 | 1.9 | 1.2 | 0.8 | 0.5 | 0.3 | 0.1 |
| Working Cap Days ⓘ | 132 | 196 | 198 | 193 | 121 | 155 | 93 | 92 | 100 | 96 | 60 |
| Cash Conv. Cycle ⓘ | 94 | 139 | 148 | 138 | 80 | 100 | 62 | 69 | 62 | 50 | 35 |
Sales growth is growing at healthy rate in last 3 years 16.55%
Net Profit is growing at healthy rate in last 3 years 46.82%
Debt to equity has declined versus last 3 years average to 0.31
Sales growth is good in last 4 quarters at 10.70%
Return on Equity has declined versus last 3 years average to 19.50%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 23.2 | - |
| TTM Sales (₹ Cr.) | 334 | - |
| BVPS (₹.) ⓘ | 124 | - |
| Reserves (₹ Cr.) ⓘ | 130 | - |
| P/BV ⓘ | 4.03 | - |
| PE ⓘ | 21.57 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 273.00 / 951.00 |
| All Time Low / High (₹) | 2.00 / 951.00 |
| Market Cap (₹ Cr.) | 570 |
| Equity (₹ Cr.) | 11.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 20.7 |
| 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 | 93 | 56 | 60 | 70 | 116 | 118 | 218 | 237 | 285 | 345 |
| Operating Expenses ⓘ | 84 | 51 | 55 | 58 | 102 | 101 | 187 | 193 | 237 | 294 |
| Manufacturing Costs | 8 | 7 | 6 | 6 | 12 | 15 | 30 | 25 | 32 | 38 |
| Material Costs | 72 | 40 | 45 | 47 | 83 | 78 | 144 | 154 | 189 | 236 |
| Employee Cost | 2 | 2 | 2 | 3 | 5 | 6 | 10 | 11 | 12 | 16 |
| Other Costs ⓘ | 2 | 1 | 1 | 3 | 3 | 2 | 3 | 3 | 4 | 4 |
| Operating Profit ⓘ | 9 | 5 | 5 | 12 | 14 | 17 | 31 | 44 | 48 | 51 |
| Operating Profit Margin (%) | 9.3% | 8.5% | 8.8% | 16.5% | 12.1% | 14.0% | 14.1% | 18.4% | 17.0% | 14.8% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Interest ⓘ | 2 | 2 | 3 | 5 | 4 | 6 | 7 | 4 | 4 | 3 |
| Depreciation ⓘ | 3 | 2 | 2 | 4 | 4 | 7 | 9 | 9 | 9 | 9 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 4 | 1 | 1 | 3 | 6 | 4 | 15 | 31 | 36 | 39 |
| Tax ⓘ | 1 | 0 | 0 | 0 | 0 | -2 | 5 | 7 | 10 | 10 |
| Profit After Tax | 3 | 0 | 1 | 4 | 6 | 5 | 9 | 24 | 26 | 29 |
| PAT Margin (%) | 2.7% | 0.8% | 1.6% | 5.1% | 5.4% | 4.6% | 4.2% | 10.0% | 9.1% | 8.4% |
| Adjusted EPS (₹) | 2.2 | 0.4 | 0.8 | 3.1 | 5.5 | 4.7 | 8.0 | 20.7 | 22.8 | 25.4 |
| Dividend Payout Ratio (%) | 32% | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 7% | 8% |
| 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 | 29 | 30 | 30 | 34 | 40 | 46 | 55 | 78 | 103 | 130 |
| Share Capital ⓘ | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves ⓘ | 18 | 18 | 19 | 22 | 29 | 34 | 43 | 67 | 92 | 119 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 17 | 24 | 45 | 48 | 59 | 81 | 55 | 53 | 44 | 33 |
| Long Term Debt | 2 | 7 | 28 | 31 | 41 | 55 | 38 | 32 | 21 | 12 |
| Short Term Debt | 15 | 17 | 17 | 17 | 17 | 25 | 16 | 21 | 22 | 20 |
| Trade Payables | 3 | 2 | 2 | 1 | 4 | 13 | 4 | 2 | 3 | 4 |
| Others Liabilities ⓘ | 5 | 3 | 2 | 6 | 9 | 6 | 15 | 12 | 22 | 19 |
| Total Liabilities ⓘ | 54 | 59 | 79 | 89 | 111 | 146 | 129 | 145 | 172 | 186 |
Fixed Assets | ||||||||||
| Gross Block | 50 | 51 | 72 | 78 | 98 | 129 | 131 | 139 | 158 | 158 |
| Accumulated Depreciation | 29 | 31 | 33 | 36 | 40 | 47 | 56 | 65 | 74 | 83 |
| Net Fixed Assetsⓘ | 21 | 20 | 39 | 41 | 57 | 82 | 75 | 74 | 84 | 75 |
| CWIP ⓘ | 0 | 0 | 0 | 6 | 13 | 0 | 0 | 0 | 0 | 1 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 17 | 27 | 26 | 25 | 26 | 47 | 33 | 51 | 34 | 48 |
| Trade Receivables | 5 | 4 | 3 | 3 | 3 | 6 | 7 | 6 | 12 | 8 |
| Cash Equivalents | 3 | 2 | 4 | 2 | 2 | 2 | 4 | 1 | 2 | 15 |
| Others Assetsⓘ | 8 | 6 | 7 | 11 | 10 | 8 | 9 | 13 | 40 | 39 |
| Total Assets ⓘ | 54 | 59 | 79 | 89 | 111 | 146 | 129 | 145 | 172 | 186 |
| 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 ⓘ | 22 | -4 | 7 | 8 | 20 | 0 | 33 | 13 | 33 | 32 |
| PBT ⓘ | 4 | 1 | 1 | 3 | 6 | 4 | 15 | 31 | 36 | 39 |
| Adjustment ⓘ | 5 | 4 | 5 | 8 | 8 | 13 | 16 | 13 | 13 | 12 |
| Changes in Working Capital ⓘ | 14 | -8 | 2 | -3 | 7 | -16 | 3 | -25 | -10 | -11 |
| Tax Paid ⓘ | -1 | 0 | 0 | 0 | -1 | -1 | -2 | -6 | -6 | -8 |
| Cash Flow From Investing Activity ⓘ | -2 | -1 | -21 | -12 | -28 | -16 | -2 | -7 | -19 | -1 |
| Capex | -2 | -1 | -21 | -12 | -27 | -16 | -2 | -7 | -19 | 0 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | -1 |
| Cash Flow From Financing Activityⓘ | -19 | 4 | 17 | 1 | 8 | 16 | -28 | -9 | -13 | -18 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -14 | 5 | 20 | 6 | 13 | 15 | -12 | -7 | -10 | -9 |
| Interest Paid ⓘ | -2 | -2 | 0 | -5 | -4 | -6 | -7 | -4 | -4 | -3 |
| Dividend Paid ⓘ | 0 | -1 | -3 | 0 | 0 | 0 | 0 | 0 | -1 | -2 |
| Others ⓘ | -2 | 2 | 0 | 0 | 0 | 8 | -9 | 2 | 3 | -3 |
| Net Cash Flow ⓘ | 1 | -1 | 2 | -2 | 0 | 0 | 2 | -3 | 1 | 13 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.95 | 1.47 | 3.21 | 11.17 | 17.03 | 12.62 | 18.27 | 35.43 | 28.67 | 24.78 |
| ROCE (%) | 11.36 | 5.53 | 5.58 | 10.06 | 11.44 | 8.57 | 17.2 | 27.35 | 26.97 | 26.14 |
| Asset Turnover Ratio | 1.69 | 1.11 | 0.97 | 0.85 | 1.16 | 0.92 | 1.59 | 1.73 | 1.8 | 1.93 |
| PAT to CFO Conversion(x) | 7.33 | N/A | 7 | 2 | 3.33 | 0 | 3.67 | 0.54 | 1.27 | 1.1 | Working Capital Days |
| Receivable Days | 18 | 26 | 19 | 16 | 9 | 14 | 11 | 11 | 12 | 11 |
| Inventory Days | 87 | 130 | 144 | 131 | 81 | 113 | 67 | 64 | 54 | 43 |
| Payable Days | 13 | 24 | 17 | 13 | 11 | 39 | 22 | 7 | 5 | 6 |
Suraj Products was established in the year 1991 as Champion Cement Industries. Subsequently in the year 2000, it was renamed to Suraj Products. The unit started its operations with a mini cement plant and subsequently in the year 2002 it diversified to sponge iron manufacturing and production of cement stopped. Today the installed capacity is 36,000 TPA. Subsequently, it set up a pig iron plant with an installed capacity of 24,000 TPA. The company seeks to provide the ideal blend of technology, manpower and efficiency which places it in a unique position in terms of achievement of its goals and customer satisfaction.
The growth of the unit has resulted in the creation of numerous job opportunities in the area and the company strives towards furthering its contribution to the state & country.
Suraj Products is situated in the Sundargarh district of Orissa. The following are some basic facts about the company - the total capacity is 36,000 TPA for sponge and about 24,000 TPA for pig iron, the factory is situated at a distance of 30 km from the famous Rourkela Steel Plant, the factory is part of industrial hub famous for sponge iron & induction furnace plants and it is well connected by roads and railways.
The supply chain starts right from purchase of the iron ore, coal, coke, etc. to delivery of the finished product (sponge iron & pig iron) to the customers. The service by nature is customer centric with the intention of delivering the maximum value to the customer in the most cost effective and efficient manner. As the factory is a part of local industrial hub of induction furnaces, it caters finished product as raw material to local steel makers apart from Raigarh, Raipur, Ramgarh, Patna, Mandi Gobindgarh etc.
Suraj Products is one of the first companies to install Electro-Static Precipitator (ESP) with dry in 2004 as pollution control device on 50 TPD sponge iron kilns and later it becomes norm & trend in the industry.
The registered office is located at Barpali village, PO: Kesaramal (Rajgangpur), Sundargarh district, Odisha, Pin Code: 770017.
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