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Suraj Ltd (SURAJLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531638 NSE: SURAJLTD Steel & Iron Products | Small Cap | Suraj Share Price

₹228.50 30.95 (15.67%)

As on 22-Sep'26 13:06

Suraj Ltd (SURAJLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531638 NSE: SURAJLTD Steel & Iron Products | Small Cap | Suraj Share Price

₹228.50 30.95 (15.67%)

As on 22-Sep'26 13:06

Key Metrics
Valuation Multiples
Market Cap
₹364 Cr.
Current Price
₹228.5
52-Week Low / High
₹192 / 373
TTM EPS
₹4.5
TTM Sales
₹195 Cr.
Book Value per Share
₹76.8
P/E Ratio
43.72
Higher than its 5-year historical median
Industry PE
24.8
Price to Book (P/B)
2.58
Lower than its 5-year historical median
Price to Sales (P/S)
1.87
Higher than its 5-year historical median
EV/EBITDA
18.20
Higher than its 5-year historical median
Dividend Yield
0.66%
Profitability Efficiency
Return on Equity (ROE)
5.52%
Underperforms industry median
Return on Capital Employed (ROCE)
7.65%
Underperforms industry median
Return on Assets (ROA)
3.33%
Operating Profit Margin
7.8%
Net Profit Margin
3.63%
Gross Profit Margin
8.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-11.93%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-43%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-43.83%
Asset Quality
Promoter Holding
75.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹123 Cr.
Equity
₹18.4 Cr.
Face Value
₹10
All Time Low / High
₹0.43 / 530.40

Suraj 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 Suraj Ltd a good quality company?
Suraj 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.

View More

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 Suraj Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Suraj Ltd vs industry peers?
Suraj Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Suraj Ltd?
Promoters hold 75.00% of the Suraj Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Suraj Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 16.6% 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.
Suraj 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 % ⓘ4.9%5.3%5.9%6.7%6.8%7.5%25.9%23.9%12.4%7.6%-
Value Creation
Index ⓘ		-0.7-0.6-0.6-0.5-0.5-0.50.90.7-0.1-0.5-

Growth Parameters ⓘ
Sales ⓘ196207179176188344367331234206195
Sales YoY Gr.-5.5%-13.3%-2.1%7.2%82.5%6.7%-9.8%-29.3%-11.9%-
Adj EPS ⓘ0.1-1.10.80.2-0.3-0.38.9104.81.74.9
YoY Gr.--2340%NA-82.1%-320%NANA12.9%-51.7%-64.4%-
BVPS (₹) ⓘ44.244.445.145.646.347.956.566.371.173.675.3
Adj Net
Profit ⓘ		0.1-2.21.60.3-0.6-0.516.318.48.93.29
Cash Flow from Ops. ⓘ15.914.526.330.532.533.344.640.8-917.3-
Debt/CF from Ops. ⓘ7.37.73.82.71.71.10.50.8-7.13.5-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ0.5%1.8%-17.5%-11.9%
Adj EPS ⓘ48.2%NA-42.1%-64.4%
BVPSⓘ5.8%9.7%9.2%3.5%
Share Price 18.3% 31.4% 13.7% -28.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		0.1-2.51.90.3-0.7-0.516.616.372.46.6
Op. Profit
Mgn % ⓘ		7.96.3109.87.23.69.511.912.17.89.1
Net Profit
Mgn % ⓘ		0.1-10.90.2-0.3-0.14.45.63.81.54.6
Debt to
Equity ⓘ		1.41.31.10.90.60.40.20.30.50.5-
Working Cap
Days ⓘ		2662702892782421209695160212102
Cash Conv.
Cycle ⓘ		2252142342181818161559013628

Valuation of Suraj - 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'07Mar'18Mar'19Mar'24Mar'25Mar'26
Sales233207182331234206
Operating Expenses ⓘ + 211194164291205190
Manufacturing Costs81614313333
Material Costs190147133228144129
Employee Cost 21111222220
Other Costs ⓘ 102151078
Operating Profit ⓘ 221318392816
Operating Profit Margin (%) 9.5%6.2%9.7%11.9%12.1%7.8%
Other Income ⓘ + 040346
Exceptional Items ⓘ 000000
Interest ⓘ 71010454
Depreciation ⓘ 3679117
Profit Before Tax ⓘ 1211311811
Tax ⓘ 41-0953
Profit After Tax 80122137
PAT Margin (%) 3.6%0.2%0.8%6.5%5.7%3.6%
Adjusted EPS (₹)4.90.20.711.77.34.1
Dividend Payout Ratio (%)10.20%0%0%12.80%20.70%36.90%
PARTICULARSMar'07Mar'18Mar'19Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 368587123133138
Share Capital ⓘ 61919181818
Reserves ⓘ 306668104115119
Debt +6811299346460
Long Term Debt6800000
Short Term Debt011299346460
Minority Interest000000
Trade Payables1986141217
Others Liabilities ⓘ 1287161311
Total Liabilities ⓘ 135213198186222226

Fixed Assets

Net Fixed Assets ⓘ +456157858989
Gross Block57157159224238238
Accumulated Depreciation1296103139149149
CWIP ⓘ 000000
Investments ⓘ 000141515
Inventories578884245263
Trade Receivables194231343337
Cash Equivalents 545000
Others Assets ⓘ 101822283322
Total Assets ⓘ 135213198186222226
PARTICULARSMar'07Mar'18Mar'19Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + -18142741-917
PBT ⓘ 1211311811
Adjustment ⓘ 8161711139
Changes in Working Capital ⓘ -36-21011-37-3
Tax Paid ⓘ -3-1-1-13-30
Cash Flow From Investing Activity ⓘ + -17-1-2-47-14-6
Capex -17-2-2-34-14-6
Net Investments -000-1300
Others ⓘ 00000-0
Cash Flow From Financing Activity ⓘ + 38-14-24623-11
Net Proceeds from Shares ⓘ 100000
Net Proceeds from Borrowing ⓘ 600000
Interest Paid ⓘ -5-10-10-3-5-5
Dividend Paid ⓘ -100-3-3-3
Others ⓘ 37-4-141230-4
Net Cash Flow ⓘ 3-11-0-0-0
PARTICULARSMar'07Mar'18Mar'19Mar'24Mar'25Mar'26
Ratios
ROE (%)23.410.581.6420.5510.415.52
ROCE (%)18.46.935.9420.1413.147.65
Asset Turnover Ratio1.721.190.881.721.150.92
PAT to CFO Conversion(x)-2.25N/A271.86-0.692.43
Working Capital Days
Receivable Days29.7053.5072.8035.8052.3061.70
Inventory Days88.90127.70173.4059.8059.70102.20
Payable Days3633.1018.6015.5032.9041.20

Top 5 Mutual Funds Holding

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Announcements

Suraj Ltd FAQs

The current trading price of Suraj on 22-Sep-2026 13:06 is ₹228.5.

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 21-Sep-2026 the market cap of Suraj stood at ₹363.6 Cr

The latest P/E ratio of Suraj as of 21-Sep-2026 is 40.61.

The latest P/B ratio of Suraj as of 21-Sep-2026 is 2.63.

The 52-week high of Suraj is ₹372.9 and the 52-week low is ₹191.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suraj is ₹195 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Suraj Ltd is a average quality company.

The key valuation ratios of Suraj 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 Suraj Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Suraj Ltd

Suraj, earlier known as Suraj Stainless, a Suraj Group company, was founded by Tarachand Balaji Shah in 1960. Suraj Group established has spearheaded the mini-revolution with the aim to be one of the market leaders in the country. In 2011 company changed its name from Suraj Stainless Ltd to Suraj Ltd.

The company manufactures Stainless Steel Seamless & Welded Pipes, Tubes & ‘U’ Tubes are manufactured and tested to international Standards, under strict supervision of highly qualified and experienced technocrats, to satisfy and meet the most critical demands of reputed industrial users for various applications, sizes, grades and specifications as per ASTM and also conforming other international GradeStandards Equivalent to ASME, DIN, NFA, JIS, etc.

Suraj Stainless specialises in tubing for Heat exchangers, Heater, Condensers, Heating Elements and Instrumentation with facility of annealed, pickled, cold rolled and weld bead removed tubes upto 22-meters long tubes.  Suraj Stainless is a Govt. of India recognized Export House and is selling its premium products in India and abroad to more than 53 countries in all over the world.

All products of Suraj Stainless Ltd.' have to meet a very high standard, set by stringent quality specifications and norms. All process parameters and conditions are developed and constantly monitored throughout the entire manufacturing process.

A quality system to ISO 9001 : 2000 , AD 2000 – Merkblatt / WO , and PED – 97 /23/EC as outlined in this manual has been developed and implemented to ensure that all the customer requirements is satisfied. The quality system is applicable to all departments and all activities undertaken by the company for manufacturing of Stainless Steel Seamless/Welded Pipes, Tubes and ‘U’ Tubes.

In 2010 commenced Production of Large Diameter Fusion Welded Pipes to Specification ASTM A-358. A-409, A-779, A-928

Product range of the company includes:

Seamless ferritic and austenitic alloy steel boiler, super heater and heat Exchanger tubes

The company is specialized in tubing for equipment like

- Heat Exchanger- Heating Elements- Surface Condensers- Evaporators- Digesters- Instrumentation and Fluid Pipings.

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