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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 Share Price

₹414.70 8.10 (1.99%)

As on 05-Jun'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 Share Price

₹414.70 8.10 (1.99%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹481 Cr.
Current Price
₹414.7
52-Week Low / High
₹203 / 456
TTM EPS
₹-1.3
TTM Sales
₹0 Cr.
Book Value per Share
₹88.6
P/E Ratio
0.00
Industry PE
56.3
Price to Book (P/B)
4.40
Higher than its 5-year historical median
Price to Sales (P/S)
0.00
Lower than its 5-year historical median
EV/EBITDA
-273.36
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
-7.05%
Underperforms industry median
Return on Capital Employed (ROCE)
-2.41%
Underperforms industry median
Return on Assets (ROA)
-5.15%
Operating Profit Margin
-5,903.1%
Net Profit Margin
-4452.31%
Gross Profit Margin
-3,784.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
150%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
74.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹97 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

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Valuation

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Price Trend

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Q.1 Is S&S Power Switchgear Ltd a good quality company?
S&S Power Switchgear Ltd is a weak quality company, based on a inconsistent 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?
Q.1 Revenue growth of S&S Power Switchgear Ltd vs industry peers?
S&S Power Switchgear Ltd revenue CAGR is -34.97%, compared to the industry median CAGR of 13.01%, indicating slower growth and losing 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 76.5% based on the current price.

10 Year X-Ray : Login to view analysis.

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 not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 1.5%-1.5%-0.1%5.7%-18.4%1.7%2.2%33.9%-2.3%-2.4%-
Value Creation
Index
-0.9-1.1-1.0-0.6-2.3-0.9-0.81.4-1.2-1.2-

Growth Parameters

Sales 2.61.72.10.50.90.60.60.600.10
Sales YoY Gr.--35.9%28.9%-76.2%68.6%-33.7%1.8%1.7%-93.2%150%-
Adj EPS -0.1-1.8-1.71.3-4.7-1.8-1.63.9-4.1-3.5-1.3
YoY Gr.-NANANA-462.3%NANANA-205.6%NA-
BVPS (₹) 34.632.530.932.22119.517.933.229.384.988.6
Adj Net
Profit
-0.1-1.1-10.8-2.9-1.1-12.4-2.6-4.4-2
Cash Flow from Ops. 0.1-0.40.10.5-0.70.5-0.21.20-2-
Debt/CF from Ops. 61.8-26.9249.331.2-22.432.9-86.413.6912.1-10.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -30.3%-35%-44.3%150%
Adj EPS NANANANA
BVPS10.5%32.2%68%189.5%
Share Price - 81.9% 149.6% 9.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-0.3-5.2-5.34.1-17.7-8.7-8.315.3-13.2-7-1.5
Op. Profit
Mgn %
-29.6-90.6-83.9-701.9-483.9-446.9-394.4-360.2-4690.7-5903.1NAN
Net Profit
Mgn %
-2.4-65.3-48.6157.8-340.8-193.3-165.9412.9-5959-4469.2-INF
Debt to
Equity
0.30.60.80.71.21.31.40.810.20.2
Working Cap
Days
1,9033,2982,78511,3606,69010,12910,10813,3911,62,4801,11,9980
Cash Conv.
Cycle
1924272841,3256687467748217,2232,9300

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales3221111100
Operating Expenses + 3344533326
Manufacturing Costs0000000000
Material Costs1010110000
Employee Cost 1122212113
Other Costs 1122211113
Operating Profit -1-2-2-4-4-3-2-2-2-6
Operating Profit Margin (%) -29.6%-90.7%-84.0%-701.0%-483.0%-446.0%-394.0%-360.0%-4,690.7%-5,903.1%
Other Income + 1126533324
Exceptional Items 0000-6001000
Interest 0111122122
Depreciation 0000000000
Profit Before Tax -0-1-11-7-1-110-3-4
Tax 0-000-0-000-00
Profit After Tax -0-1-11-7-1-19-3-4
PAT Margin (%) -0.7%-61.7%-48.7%157.8%-808.0%-193.0%-165.0%1,614.2%-5,952.9%-4,452.3%
Adjusted EPS (₹)-0.0-1.7-1.71.3-11.2-1.8-1.615.3-4.1-3.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of S&S Power - Standalone

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 222019201312112118105
Share Capital 66666666612
Reserves 16141314765141292
Debt +7111514151615171921
Long Term Debt0000000151721
Short Term Debt7111514151615110
Minority Interest0000000000
Trade Payables2110111110
Others Liabilities 4323433223
Total Liabilities 353538373332304040129

Fixed Assets

Net Fixed Assets +3333330100
Gross Block6333442222
Accumulated Depreciation2000111111
CWIP 0000000000
Investments 17161919131313132780
Inventories1000001110
Trade Receivables3321201001
Cash Equivalents 0000000000
Others Assets 11131414141515251147
Total Assets 353538373332304040129

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0-000-10-010-2
PBT -0-1-11-7-1-110-3-4
Adjustment 00-00611-1022
Changes in Working Capital -011-0-00-020-1
Tax Paid 0-00000-0-000
Cash Flow From Investing Activity + 0-2-3111112-14-53
Capex -00-0-0-0-0-010-00
Net Investments 0-0-3-0000-000
Others 0-2011112-14-53
Cash Flow From Financing Activity + -023-20-1-1-131455
Net Proceeds from Shares 00000000091
Net Proceeds from Borrowing 0000000023
Interest Paid -0-1-100-2-2-1-2-2
Dividend Paid 0000000000
Others -034-2001-1214-38
Net Cash Flow -00-0-00-0-0-000

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-0.08-4.91-5.294.11-42.02-8.74-8.2959.69-13.18-7.05
ROCE (%)1.52-1.53-0.145.71-18.371.652.2133.93-2.27-2.41
Asset Turnover Ratio0.080.050.060.010.020.020.020.0200
PAT to CFO Conversion(x)N/AN/AN/A0N/AN/AN/A0.11N/AN/A
Working Capital Days
Receivable Days327.60612.404481,291.20598.10590.50428.904322,137.701,668.20
Inventory Days69.10101.1046.70175.50117.90228.70448.60496.805,232.901,316.90
Payable Days463.801,569.80872.801,326.70214.70363.901,257.30526.404,343.50467.70

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

S&S Power Switchgear Ltd FAQs

The current trading price of S&S Power on 05-Jun-2026 16:59 is ₹414.7.

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 04-Jun-2026 the market cap of S&S Power stood at ₹481.3 Cr

The latest P/E ratio of S&S Power as of 04-Jun-2026 is 0.00.

The latest P/B ratio of S&S Power as of 04-Jun-2026 is 4.40.

The 52-week high of S&S Power is ₹456.0 and the 52-week low is ₹202.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of S&S Power is ₹0.00 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that S&S Power Switchgear Ltd is a below 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 Strong which suggest that the price of S&S Power Switchgear Ltd is likely to Rise 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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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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