Salasar Techno Engg. Ltd.
NSE: SALASAR · Industrial Products · sector
₹3.83NSE close 2026-10-26
Key numbers
Market cap₹669 cr
Price₹3.83
52w high / low₹11 / ₹4
P/E47.9xSector median 24.2x
P/B0.8xSector median 2.8x
Book value₹4.8
Dividend yield–Sector median 0.50%
ROE1.7%Sector median 11.5%
ROCE7.2%Sector median 13.4%
OPM7.0%Sector median 10.3%
Debt / equity0.50xSector median 0.17x
EV/EBITDA10.0xSector median 16.7x
Interest cover1.6x
Current ratio1.16x
Sales growth 3y+14.4%Sector median +10.2%
Profit growth 3y-24.6%Sector median +12.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 152 companies in Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹44 cr vs borrowings ₹415 cr (FY26): borrowings are higher by ₹370 cr.
- Operating profit covered interest 1.6x in the last 12 months.
- 5.21% of the promoters' shares are pledged (2.3% of all shares).
- Promoter holding fell by 4.13 percentage points in a year, to 43.91% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 5 years (FY25, FY24, FY23, FY22).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 80% of net profit in the last 12 months.
- Debtor days went from 98 (FY24) to 157 (FY26).
- Dividend paid in 3 of the last 5 financial years.
- Price ₹3.83 on 2026-10-26: -65.2% from the 52-week high, +0.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹21.22 · low ₹3.83
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 281 | 375 | 483 | 300 | 427 | 331 | 445 | 296 |
| EBITDA | 26 | 32 | 21 | 30 | 42 | 26 | 14 | 22 |
| OPM % | 9.1% | 8.5% | 4.3% | 10.0% | 9.8% | 8.0% | 3.1% | 7.4% |
| Other income | 2 | 1 | 3 | 2 | 2 | 2 | 4 | 4 |
| Net profit | 10 | 12 | -5 | 9 | 16 | 5 | -12 | 5 |
| EPS (₹) | 0.06 | 0.07 | -0.03 | 0.05 | 0.09 | 0.04 | -0.08 | 0.03 |
| Revenue YoY | +51.8% | -11.8% | -8.0% | -1.5% | ||||
| Profit YoY | +64.4% | -55.1% | – | -41.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 719 | 1,005 | 1,208 | 1,447 | 1,503 | 1,498 |
| EBITDA | 69 | 91 | 122 | 104 | 112 | 104 |
| Net profit | 31 | 40 | 53 | 19 | 17 | 14 |
| EPS (₹) | 2.20 | 0.27 | 0.34 | 0.11 | 0.10 | 0.08 |
| Revenue growth | +39.8% | +20.3% | +19.8% | +3.8% | +4.0% | |
| Profit growth | +27.8% | +31.8% | -63.9% | -9.8% | -45.0% | |
| Dividend / share (₹) | 1.00 | 0.10 | 0.10 | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.4% | +20.3% | +4.0% |
| Net profit | -24.6% | -10.3% | -45.0% |
| EPS | -27.8% | -53.1% | – |
| Share price | – | -53.2% (2y) | -58.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 401 | 450 | 786 | 834 |
| Borrowings | – | 272 | 349 | 316 | 415 |
| Cash & equivalents | – | 21 | 29 | 53 | 44 |
| Total assets | – | 914 | 1,151 | 1,725 | 2,154 |
| Fixed assets | – | 159 | 226 | 380 | 417 |
| Capital work in progress | – | 21 | 0 | 2 | 8 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 330 | 324 | 464 | 644 |
| Inventory | – | 263 | 339 | 340 | 502 |
| Payables | – | 73 | 102 | 128 | 194 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1 | -0 | 52 | -5 | 161 |
| Cash from investing | -27 | 70 | -80 | 10 | -228 |
| Cash from financing | 26 | 70 | 30 | -1 | 66 |
| Capex | 26 | 0 | 56 | 12 | 68 |
| Free cash flow | -24 | -0 | -4 | -18 | 93 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.0% | 11.8% | 2.4% | 2.1% |
| ROCE % | – | 12.7% | 14.5% | 8.3% | 7.7% |
| Debtor days | – | 120 | 98 | 117 | 157 |
| Inventory days | – | 117 | 128 | 104 | 151 |
| Payable days | – | 32 | 39 | 39 | 58 |
| Cash conversion cycle (days) | – | 205 | 187 | 182 | 250 |
| Working capital days | – | 87 | 69 | 94 | 50 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 43.91% |
| FIIs | 5.60% |
| Public (non-institutions) | 50.49% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 53.40% | 50.95% | 48.92% | 48.04% | 46.59% | 47.24% | 44.50% | 43.91% |
| Promoter group | % |
|---|---|
| Hill View Infrabuild Limited | 16.44% |
| Shalabh Agarwal | 9.29% |
| Shashank Agarwal | 5.98% |
| Anshu Agarwal | 3.31% |
| More Engineering LLP (Earlier Known AS More Engineering Private Limited) | 2.67% |
| Shikhar Fabtech PVT Ltd | 2.59% |
| Tripti Gupta | 1.49% |
| Kamlesh Gupta | 0.75% |
| Shikhar Gupta | 0.74% |
| Alok Kumar | 0.42% |
| Bharat Agawal | 0.19% |
| Taru Agarwal | 0.05% |
| Gyanendra Kumar Agarwal | 0.00% |
| Base Engineering LLP (Earlier Known AS Base Engineering Private Limited) | 0.00% |
| Mithilesh Aggarwal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Maybank Securities PTE Ltd - ODI | 1.87% |
| Eminence Global Fund PCC- Eubilia Capital Partners Fund I | 1.59% |
4,63,792 shareholders. Pledged: 5.21% of promoter shares.
Peers in Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| INDOMIM | ₹52,085 cr | – | – | – | – | – | – | – |
| CPPLUS | ₹45,577 cr | 94.7x | 24.3x | 25.5% | 33.3% | 14.5% | – | 0.04% |
| SYRMA | ₹28,803 cr | 77.7x | 10.1x | 17.4% | 17.6% | 11.1% | +33.0% | 0.10% |
| HONAUT | ₹27,500 cr | 50.1x | 6.2x | 13.0% | 16.9% | 13.3% | +10.7% | 0.34% |
| KAYNES | ₹22,167 cr | 64.0x | 4.7x | 9.1% | 11.1% | 15.5% | +47.7% | – |
| JYOTICNC | ₹20,523 cr | 63.8x | 10.3x | 17.4% | 18.5% | 24.4% | – | – |
| LMW | ₹17,267 cr | 84.2x | 5.7x | 7.0% | 9.3% | 7.1% | -12.1% | 0.19% |
| TEGA | ₹12,752 cr | 447.9x | 3.7x | 0.9% | 4.5% | 7.5% | +11.7% | 0.11% |
| LLOYDSENGG | ₹12,248 cr | 48.1x | 7.3x | 14.1% | 15.1% | 14.2% | +60.9% | 0.27% |
| SALASAR | ₹669 cr | 47.9x | 0.8x | 1.7% | 7.2% | 7.0% | +14.4% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Steel Structures | ₹974 cr | 63.8% | ₹105 cr | 10.8% |
| EPC Projects | ₹553 cr | 36.2% | ₹13 cr | 2.3% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-23 | Other | Annual General Meeting |
| 2024-02-01 | Bonus | Bonus 4:1 |
| 2023-09-15 | Dividend | Annual General Meeting/Dividend - Re 0.10 Per Share |
| 2022-09-15 | Dividend | Annual General Meeting/Dividend - Re 0.10 Per Share |
| 2022-06-27 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 1/- Per Share |
| 2021-09-08 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2021-07-13 | Bonus | Bonus 1:1 |
| 2020-09-17 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2019-11-21 | Dividend | Interim Dividend - Re 1 Per Share |
| 2019-09-19 | Dividend | Dividend - Rs 1.50 Per Share |
| 2018-11-15 | Dividend | Interim Dividend - Re 1 Per Share |
| 2018-09-19 | Dividend | Annual General Meeting/Dividend Re 1 Per Share |
| 2017-11-23 | Dividend | Interim Dividend - Re 1/- Per Share (Purpose Revised) |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and trading in steel items: The manufacturing and trading of galvanised and non-galvanised steel structures, catering to the construction and infrastructure sectors.
- Turnkey Projects (Excluding steel structure): Turnkey project business focuses on providing end-to-end solutions for power transmission infrastructure, including engineering, procurement, and construction services.
| Sector | Industrials |
| Industry | Industrial Products |
| Sub-industry | Industrial Products |
| Symbol | SALASAR |
| BSE code | 540642 |
| ISIN | INE170V01027 |
| Face value | ₹1.0 |
| Incorporated | 2001-10-24 |
| Website | www.salasartechno.com |
| Plants (India / abroad) | 4 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.