Suraj Products Ltd - Stock Valuation and Financial Performance

BSE: 518075 | NSE: | Steel/Sponge Iron/Pig Iron | Small Cap

Suraj Products Share Price

406 -2.25 -0.55%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Suraj Products

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

1. Quality

2. Valuation

Overvalued

3. Price Trend

Suraj Products stock performance -

mw4me loader
P/E Ratio (SA):
15.05
Market Cap:
462.2 Cr.
52-wk low:
121
52-wk high:
534.5

Is Suraj Products Ltd an attractive stock to invest in?

1. Is Suraj Products Ltd a good quality company?

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

2. Is Suraj Products Ltd undervalued or overvalued?

The key valuation ratios of Suraj Products Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Suraj Products Ltd a good buy now?

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.

10 Year X-Ray of Suraj Products:

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 Products 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 % 6.2%7.7%3.8%4.4%8.6%9.7%8.3%11.2%20.7%19.6%-
Value Creation
Index
-0.6-0.5-0.7-0.7-0.4-0.3-0.4-0.20.50.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 87.792.855.659.869.8116118218237285355
Sales YoY Gr.-5.9%-40.1%7.5%16.8%66.7%1.4%84.5%8.8%20.3%-
Adj EPS 12.20.40.83.15.34.7820.722.826.9
YoY Gr.-119.8%-84.2%137.1%278.3%69.8%-12.4%71.7%157.9%10.3%-
BVPS (₹) 24.125.425.826.529.735.239.948.168.790.5109.2
Adj Net
Profit
1.22.50.413.66.15.39.123.62631
Cash Flow from Ops. 1021.7-3.56.68.520-0.332.812.732.7-
Debt/CF from Ops. 3.40.8-76.863.2-334.924.81.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14%32.5%34.2%20.3%
Adj EPS 41.4%48.7%69.6%10.3%
BVPS15.8%25%31.3%31.8%
Share Price 41.1% 82.9% 130.5% 229.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
5.28.91.43.211.216.412.418.235.428.727
Op. Profit
Mgn %
8.89.38.58.816.512.11414.218.41715.3
Net Profit
Mgn %
1.32.70.71.65.15.24.54.2109.18.7
Debt to
Equity
1.20.60.81.51.51.61.91.20.80.5-
Working Cap
Days
172132196198193121155939210046
Cash Conv.
Cycle
127941391481388010062696224

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 34.17%

Net Profit is growing at healthy rate in last 3 years 69.64%

Debt to equity has declined versus last 3 years average to 0.51

Sales growth is good in last 4 quarters at 47.34%

Return on Equity has declined versus last 3 years average to 27.00%

Latest Financials - Suraj Products Ltd.

Standalone Consolidated
TTM EPS (₹) 26.9 -
TTM Sales (₹ Cr.) 355 -
BVPS (₹.) 109.2 -
Reserves (₹ Cr.) 113 -
P/BV 3.71 -
PE 15.05 -
From the Market
52 Week Low / High (₹) 121.00 / 534.50
All Time Low / High (₹) 2.00 / 534.50
Market Cap (₹ Cr.) 462
Equity (₹ Cr.) 11.4
Face Value (₹) 10
Industry PE 20

Management X-Ray of Suraj Products:

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 Suraj Products

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
Sales8893566070116118218237285
Operating Expenses 8084515558102101187193237
Manufacturing Costs687661215302532
Material Costs70724045478378144154189
Employee Cost 2222356101112
Other Costs 1211332334
Operating Profit 8955121417314448
Operating Profit Margin (%) 8.8%9.3%8.5%8.8%16.5%12.1%14.0%14.1%18.4%17.0%
Other Income 0000010000
Interest 4223546744
Depreciation 3322447999
Exceptional Items 0000000000
Profit Before Tax 2411364153136
Tax 110000-25710
Profit After Tax 130146592426
PAT Margin (%) 1.3%2.7%0.8%1.6%5.1%5.4%4.6%4.2%10.0%9.1%
Adjusted EPS (₹)1.02.20.40.83.15.54.78.020.722.8
Dividend Payout Ratio (%)60%32%0%0%0%0%0%0%5%7%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 282930303440465578103
Share Capital 11111111111111111111
Reserves 16181819222934436792
Minority Interest0000000000
Debt32172445485981555344
Long Term Debt152728314155383221
Short Term Debt17151717171725162122
Trade Payables23221413423
Others Liabilities 6532696151222
Total Liabilities 6854597989111146129145172

Fixed Assets

Gross Block485051727898129131139158
Accumulated Depreciation26293133364047566574
Net Fixed Assets22212039415782757484
CWIP 00006130000
Investments 0000000000
Inventories32172726252647335134
Trade Receivables55433367612
Cash Equivalents 2324222412
Others Assets78671110891340
Total Assets 6854597989111146129145172

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1022-478200331333
PBT 2411364153136
Adjustment 65458813161313
Changes in Working Capital 314-82-37-163-25-10
Tax Paid -1-1000-1-1-2-6-6
Cash Flow From Investing Activity -6-2-1-21-12-28-16-2-7-19
Capex -6-2-1-21-12-27-16-2-7-19
Net Investments 0000000000
Others 00000-10000
Cash Flow From Financing Activity -4-194171816-28-9-13
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0-1452061315-12-7-10
Interest Paid -4-2-20-5-4-6-7-4-4
Dividend Paid 00-1-300000-1
Others 0-220008-923
Net Cash Flow -11-12-2002-31
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)5.288.951.473.2111.1717.0312.6218.2735.4328.67
ROCE (%)8.9711.365.535.5810.0611.448.5717.227.3526.97
Asset Turnover Ratio1.431.691.110.970.851.160.921.591.731.8
PAT to CFO Conversion(x)107.33-INF723.3303.670.541.27
Working Capital Days
Receivable Days1618261916914111112
Inventory Days1258713014413181113676454
Payable Days161324171311392275

Suraj Products Ltd Stock News

Suraj Products Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Suraj Products on 28-Mar-2024 16:01 is ₹406.0.
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 28-Mar-2024 16:01 the market cap of Suraj Products stood at ₹462.2.
The latest P/E ratio of Suraj Products as of 28-Mar-2024 16:01 is 15.05.
The latest P/B ratio of Suraj Products as of 28-Mar-2024 16:01 is 3.71.
The 52-week high of Suraj Products is ₹534.5 and the 52-week low is ₹121.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suraj Products is ₹355.2 ( Cr.) .

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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