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Suraj Products Ltd (518075)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 518075 NSE: Steel & Iron Products | Small Cap | Suraj Products Share Price
₹257.15 -2.35 (-0.91%)
As on 03-Sep'26 16:59
Suraj Products Ltd (518075)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 518075 NSE: Steel & Iron Products | Small Cap | Suraj Products Share Price
₹257.15 -2.35 (-0.91%)
As on 03-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹296 Cr.
Current Price
₹257.2
52-Week Low / High
₹156 / 445
TTM EPS
₹18.4
TTM Sales
₹311 Cr.
Book Value per Share
₹151.5
P/E Ratio
14.10
In line with its 5-year historical median
Industry PE
24.9
Price to Book (P/B)
1.71
Lower than its 5-year historical median
Price to Sales (P/S)
0.95
Higher than its 5-year historical median
EV/EBITDA
8.00
In line with its 5-year historical median
Dividend Yield
0.87%
Profitability Efficiency
Return on Equity (ROE)
11.95%
Outperforms industry median
Return on Capital Employed (ROCE)
14.82%
Outperforms industry median
Return on Assets (ROA)
10.19%
Operating Profit Margin
10.3%
Net Profit Margin
6.2%
Gross Profit Margin
10.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-6.92%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-16.24%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.04%
Asset Quality
Promoter Holding
73.70%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹161 Cr.
Equity
₹11.4 Cr.
Face Value
₹10
All Time Low / High
₹2.00 / 951.00
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Suraj Products Ltd a good quality company?
Suraj Products 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 Suraj Products Ltd performance compare with that of its Peers?
Revenue growth of Suraj Products Ltd vs industry peers?
Suraj Products Ltd revenue CAGR is 6.89%, compared to the industry median CAGR of 7.75%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Suraj Products Ltd?
Promoters hold 73.70% of the Suraj Products Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Suraj Products Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 30.7% 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.
Suraj Products 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.6% | 10.1% | 11.4% | 8.6% | 17.2% | 27.4% | 27% | 26.1% | 17.6% | 14.8% | - |
| Value Creation Index ⓘ | -0.6 | -0.3 | -0.2 | -0.4 | 0.2 | 1.0 | 0.9 | 0.9 | 0.3 | 0.1 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 59.8 | 69.8 | 116 | 118 | 218 | 237 | 285 | 345 | 326 | 304 | 311 |
| Sales YoY Gr. | - | 16.8% | 66.7% | 1.4% | 84.5% | 8.8% | 20.3% | 21% | -5.3% | -6.9% | - |
| Adj EPS ⓘ | 0.8 | 3.1 | 5.3 | 4.7 | 8 | 20.7 | 22.8 | 25.4 | 18.8 | 16.3 | 18.4 |
| YoY Gr. | - | 278.3% | 69.8% | -12.4% | 71.7% | 157.9% | 10.3% | 11.3% | -26% | -13.1% | - |
| BVPS (₹) ⓘ | 26.5 | 29.7 | 35.2 | 39.9 | 48.1 | 68.7 | 90.5 | 114.4 | 131.2 | 145.6 | 151.5 |
| Adj Net Profit ⓘ | 1 | 3.6 | 6.1 | 5.3 | 9.1 | 23.6 | 26 | 28.9 | 21.4 | 18.6 | 21 |
| Cash Flow from Ops. ⓘ | 6.6 | 8.5 | 20 | -0.3 | 32.8 | 12.7 | 32.7 | 31.5 | 29.9 | 39.5 | - |
| Debt/CF from Ops. ⓘ | 6.8 | 6 | 3.2 | -334.9 | 2 | 4.8 | 1.6 | 1.3 | 0.7 | 0.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 19.8% | 6.9% | 2.2% | -6.9% | ||||
| Adj EPS ⓘ | 39.2% | 15.3% | -10.6% | -13.1% | ||||
| BVPSⓘ | 20.8% | 24.8% | 17.2% | 11% | ||||
| Share Price | 30.5% | 28.7% | -2.8% | -18.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 3.2 | 11.2 | 16.4 | 12.4 | 18.2 | 35.4 | 28.7 | 24.8 | 15.3 | 11.8 | 12.4 |
| Op. Profit Mgn % ⓘ | 8.8 | 16.5 | 12.1 | 14 | 14.2 | 18.4 | 17 | 14.8 | 11.4 | 10.3 | 10.7 |
| Net Profit Mgn % ⓘ | 1.6 | 5.1 | 5.2 | 4.5 | 4.2 | 10 | 9.1 | 8.4 | 6.6 | 6.1 | 6.8 |
| Debt to Equity ⓘ | 1.5 | 1.5 | 1.6 | 1.9 | 1.2 | 0.8 | 0.5 | 0.3 | 0.1 | 0 | - |
| Working Cap Days ⓘ | 198 | 193 | 121 | 155 | 93 | 92 | 100 | 96 | 105 | 107 | 63 |
| Cash Conv. Cycle ⓘ | 148 | 138 | 80 | 100 | 62 | 69 | 62 | 50 | 58 | 64 | 52 |
Valuation of Suraj Products - Standalone
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 60 | 70 | 116 | 118 | 218 | 237 | 285 | 345 | 326 | 304 |
| Operating Expenses ⓘ + | 55 | 58 | 102 | 101 | 187 | 193 | 237 | 294 | 289 | 273 |
| Operating Profit ⓘ | 5 | 12 | 14 | 17 | 31 | 44 | 48 | 51 | 37 | 31 |
| Operating Profit Margin (%) | 8.8% | 16.5% | 12.1% | 14.0% | 14.1% | 18.4% | 17.0% | 14.8% | 11.4% | 10.3% |
| Other Income ⓘ + | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Interest ⓘ | 3 | 5 | 4 | 6 | 7 | 4 | 4 | 3 | 2 | 1 |
| Depreciation ⓘ | 2 | 4 | 4 | 7 | 9 | 9 | 9 | 9 | 8 | 7 |
| Profit Before Tax ⓘ | 1 | 3 | 6 | 4 | 15 | 31 | 36 | 39 | 28 | 24 |
| Tax ⓘ | -0 | -0 | 0 | -2 | 5 | 7 | 10 | 10 | 6 | 5 |
| Profit After Tax | 1 | 4 | 6 | 5 | 9 | 24 | 26 | 29 | 21 | 19 |
| PAT Margin (%) | 1.6% | 5.1% | 5.4% | 4.6% | 4.2% | 10.0% | 9.1% | 8.4% | 6.6% | 6.2% |
| Adjusted EPS (₹) | 0.8 | 3.1 | 5.5 | 4.7 | 8.0 | 20.7 | 22.8 | 25.4 | 18.8 | 16.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 5.30% | 6.60% | 7.90% | 11.20% | 13.60% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 30 | 34 | 40 | 46 | 55 | 78 | 103 | 130 | 150 | 166 | |
| Debt + | 45 | 48 | 59 | 81 | 55 | 53 | 44 | 33 | 11 | 3 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 2 | 1 | 4 | 13 | 4 | 2 | 3 | 4 | 4 | 3 | |
| Others Liabilities ⓘ | 2 | 6 | 9 | 6 | 15 | 12 | 22 | 19 | 18 | 15 | |
| Total Liabilities ⓘ | 79 | 89 | 111 | 146 | 129 | 145 | 172 | 186 | 183 | 187 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 39 | 41 | 57 | 82 | 75 | 74 | 84 | 75 | 69 | 65 | |
| CWIP ⓘ | 0 | 6 | 13 | 0 | 0 | 0 | 0 | 1 | 3 | 1 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | |
| Inventories | 26 | 25 | 26 | 47 | 33 | 51 | 34 | 48 | 43 | 46 | |
| Trade Receivables | 3 | 3 | 3 | 6 | 7 | 6 | 12 | 8 | 14 | 11 | |
| Cash Equivalents | 4 | 2 | 2 | 2 | 4 | 1 | 2 | 15 | 17 | 21 | |
| Others Assets ⓘ | 7 | 11 | 10 | 8 | 9 | 13 | 40 | 39 | 37 | 28 | |
| Total Assets ⓘ | 79 | 89 | 111 | 146 | 129 | 145 | 172 | 186 | 183 | 187 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 7 | 8 | 20 | -0 | 33 | 13 | 33 | 31 | 30 | 40 |
| Cash Flow From Investing Activity ⓘ + | -21 | -12 | -28 | -16 | -2 | -7 | -19 | -1 | -5 | -30 |
| Cash Flow From Financing Activity ⓘ + | 17 | 1 | 8 | 16 | -28 | -9 | -13 | -18 | -24 | -18 |
| Net Cash Flow ⓘ | 2 | -2 | 0 | -0 | 2 | -3 | 1 | 13 | 1 | -9 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.21 | 11.17 | 17.03 | 12.62 | 18.27 | 35.43 | 28.67 | 24.78 | 15.32 | 11.95 |
| ROCE (%) | 5.58 | 10.06 | 11.44 | 8.57 | 17.2 | 27.35 | 26.97 | 26.14 | 17.57 | 14.82 |
| Asset Turnover Ratio | 0.97 | 0.85 | 1.16 | 0.92 | 1.59 | 1.73 | 1.8 | 1.93 | 1.77 | 1.64 |
| PAT to CFO Conversion(x) | 7 | 2 | 3.33 | -0 | 3.67 | 0.54 | 1.27 | 1.07 | 1.43 | 2.11 |
| Working Capital Days | ||||||||||
| Receivable Days | 19.40 | 16.20 | 8.80 | 13.70 | 11.40 | 10.60 | 11.80 | 10.60 | 12.30 | 14.90 |
| Inventory Days | 143.70 | 131 | 80.60 | 113.10 | 67.20 | 64.40 | 54.40 | 43.50 | 50.70 | 53.30 |
| Payable Days | 16.90 | 13.20 | 11.20 | 39 | 21.80 | 7.30 | 5.20 | 5.60 | 6.20 | 5.80 |
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Suraj Products Ltd FAQs
The current trading price of Suraj Products on 03-Sep-2026 16:59 is ₹257.1.
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 02-Sep-2026 the market cap of Suraj Products stood at ₹295.8 Cr
The latest P/E ratio of Suraj Products as of 02-Sep-2026 is 14.10.
The latest P/B ratio of Suraj Products as of 02-Sep-2026 is 1.71.
The 52-week high of Suraj Products is ₹444.7 and the 52-week low is ₹156.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suraj Products is ₹311 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Suraj Products Ltd is a average quality company.
The key valuation ratios of Suraj Products Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Suraj Products Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Suraj Products Ltd
Suraj Products was established in the year 1991 as Champion Cement Industries. Subsequently in the year 2000, it was renamed to Suraj Products. The unit started its operations with a mini cement plant and subsequently in the year 2002 it diversified to sponge iron manufacturing and production of cement stopped. Today the installed capacity is 36,000 TPA. Subsequently, it set up a pig iron plant with an installed capacity of 24,000 TPA. The company seeks to provide the ideal blend of technology, manpower and efficiency which places it in a unique position in terms of achievement of its goals and customer satisfaction.
The growth of the unit has resulted in the creation of numerous job opportunities in the area and the company strives towards furthering its contribution to the state & country.
Suraj Products is situated in the Sundargarh district of Orissa. The following are some basic facts about the company - the total capacity is 36,000 TPA for sponge and about 24,000 TPA for pig iron, the factory is situated at a distance of 30 km from the famous Rourkela Steel Plant, the factory is part of industrial hub famous for sponge iron & induction furnace plants and it is well connected by roads and railways.
The supply chain starts right from purchase of the iron ore, coal, coke, etc. to delivery of the finished product (sponge iron & pig iron) to the customers. The service by nature is customer centric with the intention of delivering the maximum value to the customer in the most cost effective and efficient manner. As the factory is a part of local industrial hub of induction furnaces, it caters finished product as raw material to local steel makers apart from Raigarh, Raipur, Ramgarh, Patna, Mandi Gobindgarh etc.
Suraj Products is one of the first companies to install Electro-Static Precipitator (ESP) with dry in 2004 as pollution control device on 50 TPD sponge iron kilns and later it becomes norm & trend in the industry.
The registered office is located at Barpali village, PO: Kesaramal (Rajgangpur), Sundargarh district, Odisha, Pin Code: 770017.
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