S&S Power Switchgear Ltd - Stock Valuation and Financial Performance

BSE: 517273 | NSE: S&SPOWER | Electric Equipment | Small Cap

S&S Power Share Price

269.30 12.30 4.79%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on S&S Power

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

S&S Power Switchgear stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
167.3 Cr.
52-wk low:
22.1
52-wk high:
305.2

Is S&S Power Switchgear Ltd an attractive stock to invest in?

1. Is S&S Power Switchgear Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that S&S Power Switchgear Ltd is a below average quality company.

2. Is S&S Power Switchgear Ltd undervalued or overvalued?

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.

3. Is S&S Power Switchgear Ltd a good buy now?

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

10 Year X-Ray of S&S Power:

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

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 2.6%1.9%0.9%-2.1%-1.3%4.7%-6.6%0%0.4%10.4%-
Value Creation
Index
-0.8-0.9-0.9-1.2-1.1-0.7-1.5NA-1.0-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 11.62.61.72.10.50.90.60.60.60
Sales YoY Gr.-54.9%63.9%-35.9%28.9%-76.2%68.6%-33.7%1.8%1.7%-
Adj EPS 0.70.4-0.1-1.8-1.71.3-4.7-1.8-1.63.9-3.1
YoY Gr.--39.4%-123.3%NANANA-462.3%NANANA-
BVPS (₹) 34.234.734.632.530.932.22119.517.933.230.1
Adj Net
Profit
0.40.3-0.1-1.1-10.8-2.9-1.1-12.4-2
Cash Flow from Ops. 0-0.60.1-0.40.10.5-0.70.5-0.21.2-
Debt/CF from Ops. 0-11.561.8-26.9249.331.2-22.432.9-86.413.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -5.9%-22.7%-11.8%1.7%
Adj EPS 20.8%NANANA
BVPS-0.3%1.4%16.5%85.6%
Share Price - - 131.2% 745.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
2.11.2-0.3-5.2-5.34.1-17.7-8.7-8.315.3-9.7
Op. Profit
Mgn %
-45.6-35.6-29.6-90.6-83.9-701.9-483.9-446.9-394.4-360.2-377.7
Net Profit
Mgn %
43.516.8-2.4-65.3-48.6157.8-340.8-193.3-165.9412.9-1123.3
Debt to
Equity
0.30.30.30.60.80.71.21.31.40.8-
Working Cap
Days
4,3942,9591,9033,2982,78511,3606,69010,12910,10813,3914,031
Cash Conv.
Cycle
1861891924272841,325668746774821221

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.81

Return on Equity is Poor

Sales growth has been subdued in last 3 years -11.80%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at -83.53%

Latest Financials - S&S Power Switchgear Ltd.

Standalone Consolidated
TTM EPS (₹) -3.1 4.9
TTM Sales (₹ Cr.) 0.2 162
BVPS (₹.) 30.1 -7
Reserves (₹ Cr.) 12 -11
P/BV 8.97 -38.45
PE 0.00 55.55
From the Market
52 Week Low / High (₹) 22.09 / 305.15
All Time Low / High (₹) 1.25 / 305.15
Market Cap (₹ Cr.) 167
Equity (₹ Cr.) 6.2
Face Value (₹) 10
Industry PE 86

Management X-Ray of S&S Power:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of S&S Power

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1232211111
Operating Expenses 1233445333
Manufacturing Costs0000000000
Material Costs0010101100
Employee Cost 1111222121
Other Costs 1111222111
Operating Profit 0-1-1-2-2-4-4-3-2-2
Operating Profit Margin (%) -45.6%-35.6%-29.6%-90.7%-84.0%-701.0%-483.0%-446.0%-394.0%-360.0%
Other Income 1111265333
Interest 0001111221
Depreciation 0000000000
Exceptional Items 100000-60010
Profit Before Tax 100-1-11-7-1-110
Tax 0000000000
Profit After Tax 100-1-11-7-1-19
PAT Margin (%) 123.6%16.8%-0.7%-61.7%-48.7%157.8%-808.0%-193.0%-165.0%1,614.2%
Adjusted EPS (₹)2.00.40.0-1.7-1.71.3-11.2-1.8-1.615.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 22222220192013121121
Share Capital 6666666666
Reserves 15161614131476514
Minority Interest0000000000
Debt77711151415161517
Long Term Debt00000000015
Short Term Debt7771115141516151
Trade Payables1121101111
Others Liabilities 3443234332
Total Liabilities 33343535383733323040

Fixed Assets

Gross Block5663334422
Accumulated Depreciation2220001111
Net Fixed Assets3333333301
CWIP 0000000000
Investments 17171716191913131313
Inventories0010000011
Trade Receivables2233212010
Cash Equivalents 0000000000
Others Assets10111113141414151525
Total Assets 33343535383733323040

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'12Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -3-10000-1001
PBT 100-1-11-7-1-110
Adjustment 000000611-10
Changes in Working Capital -1-1-011-0-00-02
Tax Paid 0000000000
Cash Flow From Investing Activity 100-2-3111112
Capex 00000000010
Net Investments 1000-300000
Others 000-2011111
Cash Flow From Financing Activity 20023-20-1-1-13
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 000-1-100-2-2-1
Dividend Paid 0000000000
Others 21034-2001-12
Net Cash Flow 0000000000
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)6.111.24-0.08-4.91-5.294.11-42.02-8.74-8.2959.69
ROCE (%)62.391.52-1.53-0.145.71-18.371.652.2133.93
Asset Turnover Ratio0.030.050.080.050.060.010.020.020.020.02
PAT to CFO Conversion(x)-3N/AN/AN/AN/A0N/AN/AN/A0.11
Working Capital Days
Receivable Days6684373286124481,291598590429432
Inventory Days110866910147175118229449497
Payable Days01,1324641,5708731,3272153641,257526

S&S Power Switchgear Ltd Stock News

S&S Power Switchgear Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of S&S Power on 12-Apr-2024 10:20 is ₹269.3.
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 12-Apr-2024 10:20 the market cap of S&S Power stood at ₹167.3.
The latest P/E ratio of S&S Power as of 12-Apr-2024 10:20 is 0.00.
The latest P/B ratio of S&S Power as of 12-Apr-2024 10:20 is 8.97.
The 52-week high of S&S Power is ₹305.1 and the 52-week low is ₹22.09.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of S&S Power is ₹0.17 ( Cr.) .

About S&S Power Switchgear Ltd

S&S Power Switchgear was established in the year 1975 in technical collaboration with Brush Fusegear, UK for manufacture of HRC fuses. High voltage disconnecting switches were introduced in 1978 in collaboration with Southwales Switchgear, UK. In the year 1981, medium voltage switchgear was introduced for the first time in India in collaboration with Brush Switchgear, UK. Hawker Siddeley Switchgear, UK entered into an equity partnership as a part of the collaboration agreement. In the year 1986, Outdoor Porcelain Clad Vacuum Circuit Breakers were developed indigenously, type tested at KEMA, Holland and introduced into the Indian market for the first time. S&S Power has state-of-the-art modern manufacturing facility at Puducherry, India equipped with testing facilities, which are vital to meet the specific requirements for the manufacture of high technology power protection equipments for transmission and distribution. Careful selection of automatic and semi-automatic machines enables S&S Power to manufacture quality products to meet the stringent customer requirements. S&S Power had rapid growth in sales, which has been mainly due to the customer patronage in buying its products repeatedly and favouring us with large quantity orders. This was supported by S&S Power with the introduction of new products to meet the customer's changing needs.

S&S Power has executed and is executing export contracts from Australia, Malaysia, Indonesia, Nepal, Hong Kong, Oman, Argentina, UK, South Africa, Bangladesh, Vietnam and Thailand for supply of disconnectors. Repeated orders from these esteemed customers prove customer's confidence reposed on the company's products and our timely delivery.

S&S Power is the only company in India to have sold 3,470 circuit breakers and 4,000 nos of disconnectors in export market.

Milestones: â€¢ 

• 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 

• 1986 Porcelain clad vacuum circuit breaker for 11kV & 33kV developed indigenously, type tested and introduced into Indian market.

• 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.  

• 1992 S&S Power Corporation Sdn Bhd incorporated in association with Toprank Corporation Sdn Bhd for assembly of medium voltage switchgear in Malaysia.

• 1994 New products in medium voltage launched. S&S Power sucessfully designs, type tests and introduces horizontal drawout vacuum circuit breakers and pole mounted vacuum auto reclosers into the market. 

• 1995 S&S Power restructures its organisation to Improve its customer orientation.

• 1996 Exclusive unit for the manufacture of disconnectors for world market established at Pondicherry.  

• 1997 S&S Power takes over Acrastyle, UK -- a company engaged in the design and manufacture of control and protection equipment with a turnover of UK Pounds 10 million.  

• 1998 New product in medium voltage launched. S&S Power successfully designs, type tests and introduces 11kV, 2000 Amps, 31.5kA indoor switchgear with vacuum circuit breakers in the market. 

• 1999 New product in medium voltage launched. S&S Power successfully designs, type tests and introduces 11kV, 800 Amps, 13.1kA compact horizontal isolation indoor switchgear with vacuum circuit breaker into the market. S&S Power 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

Products:

• Centre Break Disconnectors • Double Break Disconnectors • Pantograph Disconnectors • Vertical Break Disconnector

Group companies:

• S&S Power Switchgear - A leading manufacturer of high voltage disconnecting switches. 

• Acrastyle-Ulverston, UK - Global sales and support for all products and services.  

• Acrastyle Power India (formerely i-Power Engineering) - Providing engineering design services  for control and protection of power generation and transmission & distribution systems.  

• Acrastyle Controls, Chennai, established in the year 2007 - Manufacture and supply of control and protection equipment for high voltage power systems 

Domestic clients:

• National Thermal Power Corpn  • National Hydro Electric Power Corpn  • Power Grid Corpn Of India Ltd • North Eastern Electric Power Corpn  • Damodar Valley Corpn • Neyveli Lignite Corpn  • State electricity boards • All power utility companies

Overseas clients:

• Mahkota • Projass • Viet-A-Co • Alstom • Comin Asia • LG • Franco Pacific • Viet-Phap • Gunkul Engg. â€¢ Koncar • United Utilities • Scottish Power • Northern Ireland Electricity • Alstom • Siemens 

Awards and achievements:

• Single largest supplier of disconnectors in India

• Single largest supplier of disconnectors in Malaysia

• Single largest supplier of disconnecotrs in Vietnam

• Supplies made to other countries

• S&S Power is the only company in India to have sold 3,470 circuit breakers and 4,100 disconnectors in the export market.

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