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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

₹282.40 1.40 (0.50%)

As on 16-Oct'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

₹282.40 1.40 (0.50%)

As on 16-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹349 Cr.
Current Price
₹282.4
52-Week Low / High
₹203 / 440
TTM EPS
₹6.6
TTM Sales
₹276 Cr.
Book Value per Share
₹67.1
P/E Ratio
43.11
Industry PE
50.5
Price to Book (P/B)
4.21
Higher than its 5-year historical median
Price to Sales (P/S)
1.26
Lower than its 5-year historical median
EV/EBITDA
32.51
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
13.37%
Outperforms industry median
Return on Capital Employed (ROCE)
9.91%
Underperforms industry median
Return on Assets (ROA)
4.30%
Operating Profit Margin
3.9%
Net Profit Margin
3.83%
Gross Profit Margin
3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Steady versus 3-year growth rate
-100%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
223.49%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
74.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹70 Cr.
Equity
₹12.3 Cr.
Face Value
₹10
All Time Low / High
₹1.25 / 499.55

S&S Power Switchgear stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Overvalued

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 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.

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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.

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How does S&S Power Switchgear Ltd performance compare with that of its Peers?
Q.1 Revenue growth of S&S Power Switchgear Ltd vs industry peers?
S&S Power Switchgear Ltd revenue CAGR is 14.92%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 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.
Q.1 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 55.86% based on the current price.
View More

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ-1.5%-0.1%5.7%-18.4%1.7%2.2%33.9%-2.3%-2.4%-1.5%-
Value Creation
Index ⓘ		-1.1-1.0-0.6-2.3-0.9-0.81.4-1.2-1.2-1.1-

Growth Parameters ⓘ
Sales ⓘ1.72.10.50.90.60.60.600.100
Sales YoY Gr.-28.9%-76.2%68.6%-33.7%1.8%1.7%-93.2%150%-100%-
Adj EPS ⓘ-1.8-1.71.3-4.7-1.8-1.63.9-4.1-3.5-1.40.5
YoY Gr.-NANA-462.3%NANANA-205.6%NANA-
BVPS (₹) ⓘ32.530.932.22119.517.933.229.384.983.684
Adj Net
Profit ⓘ		-1.1-10.8-2.9-1.1-12.4-2.6-4.4-1.81
Cash Flow from Ops. ⓘ-0.40.10.5-0.70.5-0.21.20-2-3.9-
Debt/CF from Ops. ⓘ-26.9249.331.2-22.432.9-86.413.6912.1-10.4-5.8-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-100%-100%-100%-100%
Adj EPS ⓘNANA-171.6%NA
BVPSⓘ11.1%33.8%36%-1.5%
Share Price - 55.9% 40.5% -17.7%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		-5.2-5.34.1-17.7-8.7-8.315.3-13.2-7-1.70.6
Op. Profit
Mgn % ⓘ		-90.6-83.9-701.9-483.9-446.9-394.4-360.2-4690.7-5903.10NAN
Net Profit
Mgn % ⓘ		-65.3-48.6157.8-340.8-193.3-165.9412.9-5959-4469.20INF
Debt to
Equity ⓘ		0.60.80.71.21.31.40.810.20.2-
Working Cap
Days ⓘ		3,2982,78511,3606,69010,12910,10813,3911,62,4801,11,99700
Cash Conv.
Cycle ⓘ		4272841,3256687467748217,2232,93000

Valuation of S&S Power Switchgear - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales8810310492132110140160185264
Operating Expenses ⓘ + 869910697128120138148182254
Manufacturing Costs2333323569
Material Costs55666458898099104119176
Employee Cost 21242929293028304251
Other Costs ⓘ 7710778891517
Operating Profit ⓘ 24-2-63-9211310
Operating Profit Margin (%) 2.7%3.9%-1.8%-6.1%2.5%-8.5%1.1%7.1%1.7%3.9%
Other Income ⓘ + 1321212123
Exceptional Items ⓘ 000-60060-10
Interest ⓘ 3334555655
Depreciation ⓘ 1112222232
Profit Before Tax ⓘ -04-4-16-2-1524-56
Tax ⓘ -01-0-0-000-0-1-5
Profit After Tax 03-4-15-2-1624-410
PAT Margin (%) 0.1%3.2%-3.5%-16.9%-1.2%-14.0%1.5%2.7%-2.0%3.8%
Adjusted EPS (₹)-0.44.9-3.3-23.2-2.6-21.14.04.7-3.18.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1317120-2-11-8-56883
Share Capital ⓘ 6.206.206.206.206.206.206.206.2012.3412.34
Reserves ⓘ 7106-6-8-18-14-125671
Debt +19303022214850572536
Long Term Debt00000042472123
Short Term Debt193030222148810514
Minority Interest231110-0100
Trade Payables25252732384239498699
Others Liabilities ⓘ 25282742522627282943
Total Liabilities ⓘ 841039797111105108130209261

Fixed Assets

Net Fixed Assets ⓘ +37454441434144457784
Gross Block3946464952515558103113
Accumulated Depreciation22289911132629
CWIP ⓘ 0000001012
Investments ⓘ 3000000000
Inventories8131219202123274862
Trade Receivables22333025342628404568
Cash Equivalents 463356392126
Others Assets ⓘ 9799911991720
Total Assets ⓘ 841039797111105108130209261
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + -01-0156-4-11612-2
PBT ⓘ 05-4-16-2-1524-56
Adjustment ⓘ -1111156-86914
Changes in Working Capital ⓘ -0-532125-5-012-17
Tax Paid ⓘ -00000-0-0-5-4-4
Cash Flow From Investing Activity ⓘ + -1-4-0-4-1-110-241-12
Capex -1-0-0-3-1-09-2-6-4
Net Investments -0-0-0-1-1-10-1-1-4
Others ⓘ 1-300011048-4
Cash Flow From Financing Activity ⓘ + 12-2-12-34-12-419
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0000000000
Interest Paid ⓘ -2-1-3-4-5-5-5-5-5-5
Dividend Paid ⓘ 0000000000
Others ⓘ 330-82947-3614
Net Cash Flow ⓘ 0-1-3-02-0-2511-5
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)0.1922.38-25.23N/AN/AN/AN/AN/A-12.0613.37
ROCE (%)5.9517.07-2.3N/AN/AN/AN/AN/A1.19.91
Asset Turnover Ratio0.851.111.040.941.261.021.311.341.091.12
PAT to CFO Conversion(x)N/A0.33N/AN/AN/AN/A-5.51.5N/A-0.2
Working Capital Days
Receivable Days9396.10110.301108299.1070.5077.6083.2078
Inventory Days46.3037.4043.406254.9068.2057.7056.8073.9076.30
Payable Days195.60140147.60186.70144184.10150.20153.90206.30191.40

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S&S Power Switchgear Ltd FAQs

The current trading price of S&S Power Switchgear on 16-Oct-2026 16:59 is ₹282.4.

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 15-Oct-2026 the market cap of S&S Power Switchgear stood at ₹348.5 Cr

The latest P/E ratio of S&S Power Switchgear as of 15-Oct-2026 is 558.5.

The latest P/B ratio of S&S Power Switchgear as of 15-Oct-2026 is 3.36.

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 Weak which suggest that the price of S&S Power Switchgear Ltd is likely to Fall 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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