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S&S Power Switchgear Ltd (S&SPOWER)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517273 NSE: S&SPOWER Electric Equipment | Small Cap | S&S Power Switchgear Share Price
₹322 -0.65 (-0.20%)
As on 23-Sep'26 16:59
S&S Power Switchgear Ltd (S&SPOWER)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517273 NSE: S&SPOWER Electric Equipment | Small Cap | S&S Power Switchgear Share Price
₹322 -0.65 (-0.20%)
As on 23-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹397 Cr.
Current Price
₹322
52-Week Low / High
₹203 / 440
TTM EPS
₹6.6
TTM Sales
₹276 Cr.
Book Value per Share
₹72.1
P/E Ratio
49.15
Industry PE
53.7
Price to Book (P/B)
4.47
Higher than its 5-year historical median
Price to Sales (P/S)
1.44
Lower than its 5-year historical median
EV/EBITDA
36.95
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-12.06%
Underperforms industry median
Return on Capital Employed (ROCE)
1.10%
Underperforms industry median
Return on Assets (ROA)
-2.23%
Operating Profit Margin
1.7%
Net Profit Margin
-2.04%
Gross Profit Margin
-0.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
150%
Operating Profit Growth (1 Year)
-
-72.02%
Net Profit Growth (1 Year)
-
-187.73%
Asset Quality
Promoter Holding
74.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹77 Cr.
Equity
₹12.3 Cr.
Face Value
₹10
All Time Low / High
₹1.25 / 499.55
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is S&S Power Switchgear Ltd a good quality company?
S&S Power Switchgear Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does S&S Power Switchgear Ltd performance compare with that of its Peers?
Revenue growth of S&S Power Switchgear Ltd vs industry peers?
S&S Power Switchgear Ltd revenue CAGR is 15.13%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of S&S Power Switchgear Ltd?
Promoters hold 74.97% of the S&S Power Switchgear Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of S&S Power Switchgear Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 64.73% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
S&S Power Switchgear Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 1.5% | -1.5% | -0.1% | 5.7% | -18.4% | 1.7% | 2.2% | 33.9% | -2.3% | -2.4% | - |
| Value Creation Index ⓘ | -0.9 | -1.1 | -1.0 | -0.6 | -2.3 | -0.9 | -0.8 | 1.4 | -1.2 | -1.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 2.6 | 1.7 | 2.1 | 0.5 | 0.9 | 0.6 | 0.6 | 0.6 | 0 | 0.1 | 0 |
| Sales YoY Gr. | - | -35.9% | 28.9% | -76.2% | 68.6% | -33.7% | 1.8% | 1.7% | -93.2% | 150% | - |
| Adj EPS ⓘ | -0.1 | -1.8 | -1.7 | 1.3 | -4.7 | -1.8 | -1.6 | 3.9 | -4.1 | -3.5 | 0.5 |
| YoY Gr. | - | NA | NA | NA | -462.3% | NA | NA | NA | -205.6% | NA | - |
| BVPS (₹) ⓘ | 34.6 | 32.5 | 30.9 | 32.2 | 21 | 19.5 | 17.9 | 33.2 | 29.3 | 84.9 | 89 |
| Adj Net Profit ⓘ | -0.1 | -1.1 | -1 | 0.8 | -2.9 | -1.1 | -1 | 2.4 | -2.6 | -4.4 | 1 |
| Cash Flow from Ops. ⓘ | 0.1 | -0.4 | 0.1 | 0.5 | -0.7 | 0.5 | -0.2 | 1.2 | 0 | -2 | - |
| Debt/CF from Ops. ⓘ | 61.8 | -26.9 | 249.3 | 31.2 | -22.4 | 32.9 | -86.4 | 13.6 | 912.1 | -10.4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -30.3% | -35% | -44.3% | 150% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | 10.5% | 32.2% | 68% | 189.5% | ||||
| Share Price | - | 64.7% | 51.3% | -19.9% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -0.3 | -5.2 | -5.3 | 4.1 | -17.7 | -8.7 | -8.3 | 15.3 | -13.2 | -7 | 0.6 |
| Op. Profit Mgn % ⓘ | -29.6 | -90.6 | -83.9 | -701.9 | -483.9 | -446.9 | -394.4 | -360.2 | -4690.7 | -5903.1 | NAN |
| Net Profit Mgn % ⓘ | -2.4 | -65.3 | -48.6 | 157.8 | -340.8 | -193.3 | -165.9 | 412.9 | -5959 | -4469.2 | INF |
| Debt to Equity ⓘ | 0.3 | 0.6 | 0.8 | 0.7 | 1.2 | 1.3 | 1.4 | 0.8 | 1 | 0.2 | - |
| Working Cap Days ⓘ | 1,903 | 3,298 | 2,785 | 11,360 | 6,690 | 10,129 | 10,108 | 13,391 | 1,62,480 | 1,11,998 | 0 |
| Cash Conv. Cycle ⓘ | 192 | 427 | 284 | 1,325 | 668 | 746 | 774 | 821 | 7,223 | 2,930 | 0 |
Valuation of S&S Power Switchgear - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 114 | 88 | 103 | 104 | 92 | 132 | 110 | 140 | 160 | 185 |
| Operating Expenses ⓘ + | 107 | 86 | 99 | 106 | 97 | 128 | 120 | 138 | 148 | 182 |
| Operating Profit ⓘ | 7 | 2 | 4 | -2 | -6 | 3 | -9 | 2 | 11 | 3 |
| Operating Profit Margin (%) | 6.2% | 2.7% | 3.9% | -1.8% | -6.1% | 2.5% | -8.5% | 1.1% | 7.1% | 1.7% |
| Other Income ⓘ + | 0 | 1 | 3 | 2 | 1 | 2 | 1 | 2 | 1 | 2 |
| Interest ⓘ | 2 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 6 | 5 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 |
| Profit Before Tax ⓘ | 6 | -0 | 4 | -4 | -16 | -2 | -15 | 2 | 4 | -5 |
| Tax ⓘ | 0 | -0 | 1 | -0 | -0 | -0 | 0 | 0 | -0 | -1 |
| Profit After Tax | 6 | 0 | 3 | -4 | -15 | -2 | -16 | 2 | 4 | -4 |
| PAT Margin (%) | 5.1% | 0.1% | 3.2% | -3.5% | -16.9% | -1.2% | -14.0% | 1.5% | 2.7% | -2.0% |
| Adjusted EPS (₹) | 6.3 | -0.4 | 4.9 | -3.3 | -23.2 | -2.6 | -21.1 | 4.0 | 4.7 | -3.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 43 | 13 | 17 | 12 | 0 | -2 | -11 | -8 | -5 | 68 | |
| Debt + | 16 | 19 | 30 | 30 | 22 | 21 | 48 | 50 | 57 | 25 | |
| Minority Interest | 12 | 2 | 3 | 1 | 1 | 1 | 0 | -0 | 1 | 0 | |
| Trade Payables | 34 | 25 | 25 | 27 | 32 | 38 | 42 | 39 | 49 | 86 | |
| Others Liabilities ⓘ | 24 | 25 | 28 | 27 | 42 | 52 | 26 | 27 | 28 | 31 | |
| Total Liabilities ⓘ | 130 | 84 | 103 | 97 | 97 | 111 | 105 | 108 | 130 | 210 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 78 | 37 | 45 | 44 | 41 | 43 | 41 | 44 | 45 | 77 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | |
| Investments ⓘ | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 15 | 8 | 13 | 12 | 19 | 20 | 21 | 23 | 27 | 48 | |
| Trade Receivables | 24 | 22 | 33 | 30 | 25 | 34 | 26 | 28 | 40 | 45 | |
| Cash Equivalents | 5 | 4 | 6 | 3 | 3 | 5 | 6 | 3 | 9 | 21 | |
| Others Assets ⓘ | 8 | 9 | 7 | 9 | 9 | 9 | 11 | 9 | 9 | 19 | |
| Total Assets ⓘ | 130 | 84 | 103 | 97 | 97 | 111 | 105 | 108 | 130 | 210 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 5 | -0 | 1 | -0 | 15 | 6 | -4 | -11 | 6 | 12 |
| Cash Flow From Investing Activity ⓘ + | -1 | -1 | -4 | -0 | -4 | -1 | -1 | 10 | -2 | 41 |
| Cash Flow From Financing Activity ⓘ + | -2 | 1 | 2 | -2 | -12 | -3 | 4 | -1 | 2 | -41 |
| Net Cash Flow ⓘ | 2 | 0 | -1 | -3 | -0 | 2 | -0 | -2 | 5 | 11 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 14.49 | 0.19 | 22.38 | -25.23 | N/A | N/A | N/A | N/A | N/A | -12.06 |
| ROCE (%) | 14.18 | 5.95 | 17.07 | -2.3 | N/A | N/A | N/A | N/A | N/A | 1.1 |
| Asset Turnover Ratio | 0.93 | 0.85 | 1.11 | 1.04 | 0.94 | 1.26 | 1.02 | 1.31 | 1.34 | 1.09 |
| PAT to CFO Conversion(x) | 0.83 | N/A | 0.33 | N/A | N/A | N/A | N/A | -5.5 | 1.5 | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 70.80 | 93 | 96.10 | 110.30 | 110 | 82 | 99.10 | 70.50 | 77.60 | 83.20 |
| Inventory Days | 46 | 46.30 | 37.40 | 43.40 | 62 | 54.90 | 68.20 | 57.70 | 56.80 | 73.90 |
| Payable Days | 171 | 195.60 | 140 | 147.60 | 186.70 | 144 | 184.10 | 150.20 | 153.90 | 206.30 |
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S&S Power Switchgear Ltd FAQs
The current trading price of S&S Power Switchgear on 23-Sep-2026 16:59 is ₹322.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Sep-2026 the market cap of S&S Power Switchgear stood at ₹397.4 Cr
The latest P/E ratio of S&S Power Switchgear as of 22-Sep-2026 is 636.9.
The latest P/B ratio of S&S Power Switchgear as of 22-Sep-2026 is 3.62.
The 52-week high of S&S Power Switchgear is ₹439.9 and the 52-week low is ₹202.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of S&S Power Switchgear is ₹0.00 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that S&S Power Switchgear Ltd is a average quality company.
The key valuation ratios of S&S Power Switchgear 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 S&S Power Switchgear Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About S&S Power Switchgear Ltd
S&S Power Switchgear, incorporated on 1975, is an Indian Multinational Company and a global engineering and technology group. The company has its registered office & manufacturing plant located at Maraimalai Nagar (near Chennai) Tamil Nadu India.
The company provides reliable Medium Voltage (MV) and High Voltage (HV) Disconnectors, Protection and Control Panels and dedicated Pot Controllers for the Aluminium Industry. Recognised as an Indian Multinational Company with a global footprint in Energy and Automation, its products undergo rigorous testing to meet international standards, ensuring high reliability and safety. The company operates through its subsidiaries, S&S Power Switchgear Equipment (SSPSE), Acrastyle (UK), and Hamilton Research & Technology (HART).
Business area of the company
The company is engaged in designing, manufacturing, and selling circuit breaker products, servicing of circuit breakers. The company is also providing corporate shared service to its subsidiaries.
Products of the company
- Centre break disconnectors
- Double break disconnectors
- Pantograph disconnectors
- Vertical break disconnector
History and milestones
- 1975: S&S Power Switchgear incorporated. Commercial production of HRC fuses commenced in collaboration with Brush Fusegear.
- 1978: High voltage disconnecting switches introduced in collaboration with Southwales Switchgear.
- 1981: Medium voltage vacuum switchgear introduced for the first time in India in collaboration with Brush Switchgear. Hawker Siddeley Switchgear joins as an equity partner as part of collaboration agreement.
- 1985: Launched medium voltage SF6 circuit breakers in collaboration with Southwales Switchgear.
- 1988: Hawker Siddeley disinvests its shares of S&S Power.
- 1989: Introduces miniature circuit breakers in collaboration with AEG Germany.
- 1990: Original promoters disinvest their holdings in favour of the Jalan Group.
- 1994: New products in medium voltage launched. S&S Power successfully designs, type tests and introduces horizontal drawout vacuum circuit breakers and pole mounted vacuum auto reclosers into the market.
- 1995: The company restructures its organisation to improve its customer orientation.
- 1996: Exclusive unit for the manufacture of disconnectors for world market established at Pondicherry.
- 1998: New product in medium voltage launched. It successfully designs, type tests and introduces 11kV, 2000 Amps, 31.5kA indoor switchgear with vacuum circuit breakers in the market.
- 1999: It obtains ISO 9001 certification from RWTUV, Germany for all its manufacturing units.
- 2000: Engineering Export Promotion Council selects S&S Power for the Best Exporter Award for consecutive two years 1997 and 1998. S&S Power decides to concentrate on its core competence area in manufacture of medium voltage switchgear & disconnector. Fuse & MCB divisions hived off.
- 2001: Approval obtained from Electricity Authority of UK and NGC, UK for use of disconnectors in UK grid.
- 2002: Electricity Authority of UK & National Grid Council S&S make for supply and installation in United Kingdom.
- 2003: Upgraded to ISO 9001:2000 version.
- 2007: Established new factory for control and relay panels.
- 2011: The company established a joint venture with Coelme to promote its Disconnector products, combining expertise and market reach.
- 2011: It sets up a new unit at M.M. Nagar, Chennai, marking an important step in strengthening its Chennai operations. This facility also enabled the systematic nurturing and growth of its High-Voltage (HV) Disconnector business, laying a stronger foundation for the years ahead.
- 2016: The company headquarters was shifted to a sprawling 50,000 sq. ft. integrated multi-modal facility in Chennai to further strengthen its manufacturing footprint in the region, bringing together operations, innovation, and administration under one roof.
- 2023: Its Chennai and UK facilities continued to drive growth, while the Pondicherry plant was divested and its operations integrated into the Chennai unit.
- 2024: A new management team was put in place under the leadership of Krishnakumar Ramanathan (KK).
- 2024: It completed the acquisition of Hamilton Research and Technology (HART), a Kolkata-based company specialising in proprietary automation technology.
- 2024: As part of the restructuring, Vikas Arora, CEO of HART, was integrated into the wider S&S Power leadership team, strengthening collaboration across the group.
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