Surana Solar Limited
NSE: SURANASOL · Heavy Electrical Equipment · sector
₹22.41NSE close 2026-10-26
Key numbers
Market cap₹110 cr
Price₹22.41
52w high / low₹33 / ₹18
P/E17.2xSector median 27.8x
P/B1.9xSector median 5.4x
Book value₹11.7
Dividend yield–Sector median 0.19%
ROE11.3%Sector median 18.8%
ROCE13.5%Sector median 21.4%
OPM-2.6%Sector median 15.1%
Debt / equity0.00xSector median 0.09x
EV/EBITDA–Sector median 21.4x
Interest cover40.3x
Current ratio3.20x
Sales growth 3y-20.9%Sector median +22.1%
Profit growth 3y-18.4%Sector median +27.5%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 40.3x in the last 12 months.
- Promoter holding rose by 3.07 percentage points in a year, to 46.38% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 171% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹22.41 on 2026-10-26: -31.9% from the 52-week high, +22.4% 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 ₹59.31 · low ₹21.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 11 | 3 | 2 | 3 | 3 | 14 | 17 |
| EBITDA | 1 | 0 | -1 | -2 | -2 | 1 | 0 | 1 |
| OPM % | 5.4% | 2.9% | -39.7% | -78.9% | -90.7% | 29.7% | 0.7% | 3.3% |
| Other income | 0 | 0 | 0 | 2 | 4 | 0 | 1 | 6 |
| Net profit | 0 | 0 | -1 | 0 | 1 | 0 | 0 | 5 |
| EPS (₹) | 0.07 | 0.03 | -0.14 | 0.06 | 0.11 | 0.04 | 0.04 | 1.11 |
| Revenue YoY | -81.9% | -75.9% | +440.1% | +720.6% | ||||
| Profit YoY | +63.6% | +29.4% | – | +1,842.9% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 25 | 42 | 18 | 39 | 21 | 36 |
| EBITDA | 4 | 1 | -0 | 1 | -3 | -1 |
| Net profit | 1 | 2 | -1 | 0 | 1 | 6 |
| EPS (₹) | 0.17 | 0.46 | -0.26 | 0.01 | 0.25 | 1.30 |
| Revenue growth | +69.9% | -58.0% | +119.1% | -46.3% | +21.6% | |
| Profit growth | +169.4% | -155.0% | – | +1,966.7% | +10,497.2% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -21.0% | -5.7% | +21.6% |
| Net profit | -18.4% | +42.5% | +10,497.2% |
| EPS | -18.4% | +44.3% | – |
| Share price | – | -36.1% (2y) | -30.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 57 | 56 | 56 | 57 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 6 | 8 | 7 | 7 |
| Total assets | – | 59 | 59 | 60 | 67 |
| Fixed assets | – | 20 | 14 | 10 | 25 |
| Capital work in progress | – | 0 | – | 1 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 0 | 0 | 0 | 1 |
| Inventory | – | 13 | 18 | 16 | 18 |
| Payables | – | 1 | 0 | 0 | 1 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -8 | 14 | 0 | 2 | 5 |
| Cash from investing | 5 | -4 | -0 | 4 | -8 |
| Cash from financing | 3 | -10 | 0 | -6 | 3 |
| Capex | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | -8 | 14 | 0 | 2 | 5 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 4.0% | -2.2% | 0.1% | 2.2% |
| ROCE % | – | 6.1% | -1.5% | 0.4% | 3.1% |
| Debtor days | – | 3 | 5 | 5 | 10 |
| Inventory days | – | 134 | 551 | 165 | 356 |
| Payable days | – | 5 | 7 | 5 | 21 |
| Cash conversion cycle (days) | – | 132 | 549 | 165 | 345 |
| Working capital days | – | 243 | 673 | 283 | 375 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 46.38% |
| DIIs | 0.04% |
| of which Mutual funds | 0.03% |
| Public (non-institutions) | 53.58% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 42.89% | 43.21% | 43.20% | 43.31% | 43.71% | 44.34% | 45.75% | 46.38% |
| Promoter group | % |
|---|---|
| Surana Telecom and Power Limited | 36.79% |
| Advait Surana | 1.85% |
| Namrata Surana | 1.45% |
| Sunita Surana | 1.08% |
| Mangilal Narender Surana | 1.00% |
| Rahul Surana | 0.93% |
| Manish Surana | 0.91% |
| Mitali Surana Saraogi | 0.75% |
| Surana Infocom Private Limited | 0.63% |
| Bhagyanagar Securities Private Limited | 0.47% |
| Vinita Surana | 0.34% |
| Shresha Surana | 0.12% |
| Devendra Surana | 0.04% |
| Nikita Surana | 0.04% |
| Public holders above 1% | % |
|---|---|
| Investor Education and Protection Fund Authority M | 1.98% |
1,06,909 shareholders. Pledged: – of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| SURANASOL | ₹110 cr | 17.2x | 1.9x | 11.3% | 13.5% | -2.6% | -20.9% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Solar Products | ₹21 cr | 99.3% | ₹0 cr | 0.9% |
| Renewable Energy | ₹0 cr | 0.7% | ₹0 cr | 8.6% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-07-15 | Other | Annual General Meeting |
| 2023-09-18 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-09-22 | Other | Annual General Meeting |
| 2020-09-22 | Other | Annual General Meeting |
| 2019-09-12 | Other | Annual General Meeting |
| 2018-09-17 | Other | Annual General Meeting |
| 2017-09-19 | Other | Annual General Meeting |
| 2016-09-22 | Other | Annual General Meeting |
| 2015-09-23 | Dividend | Annual General Meeting/ Dividend - Re 0.50/- Per Share |
| 2014-11-25 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2014-09-16 | Dividend | Annual General Meeting / Dividend - Re 1/- Per Share |
| 2013-09-19 | Dividend | Annual General Meeting / Dividend - Re.1 Per Share |
| 2012-09-24 | Other | Aanual General Meeting/ Diviednd Rs 0.50 Per Share |
| 2011-09-14 | Dividend | Annual General Meeting / Dividend - Re.1 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | SURANASOL |
| BSE code | 533298 |
| ISIN | INE272L01022 |
| Face value | ₹5.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
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.