S&S Power Switchgear Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Latest quarter profit grew 128.1% YoY, showing strong momentum
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Receivables are growing faster than sales - a possible quality concern
- Operating cash flow has been negative in recent years
- Interest coverage is weak at -0.9x - earnings barely cover interest
- Company has a low return on capital employed of 9.7%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.30x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7419.90 | 52.62 | 157233.90 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| SIEMENS | 3976.00 | 43.23 | 141593.51 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31650.00 | 122.63 | 141071.53 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| CGPOWER | 893.95 | 112.67 | 140837.36 | 0.15 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| ENRIN | 3114.90 | 74.55 | 110927.98 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| GVT&D | 4325.00 | 593.01 | 110740.13 | 0.23 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| WAAREEENER | 2636.00 | 19.87 | 75824.89 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17412.20 | 61.71 | 72908.95 | 0.34 | 467.45 | 77.80 | 6591.06 | 29.64 | 31.84 | 11.50 |
| HAVELLS | 1156.00 | 44.42 | 72546.13 | 0.87 | 2897.10 | 733.63 | 65181.90 | 1094.83 | 25.74 | 7.15 |
| SUZLON | 45.38 | 19.84 | 62377.70 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1233.30 | 160.47 | 29488.70 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| S&SPOWER | 317.00 | 48.39 | 391.23 | 0.00 | -0.26 | -114.64 | 71.21 | 19.97 | 1.10 | 2.48 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 1 | 1 | 0 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | |
| Operating Profit | -0 | -0 | -0 | -1 | -1 | -2 | -1 | -2 | -2 | -2 | -2 | -2 | -2 |
| OPM % | -5000.00% | -5000.00% | — | -1900.00% | — | -4825.00% | -2240.00% | -20000.00% | — | — | — | — | -162.87% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | -1 | -1 | -1 | -1 | -0 | -1 | -1 | -2 | -2 | -1 | -1 | 0 | 1 |
| Tax % | 1.52% | -0.00% | -0.00% | 10.61% | -0.00% | 5.88% | 1.14% | -22.62% | 2.30% | 202.19% | -0.00% | 70.59% | 47.23% |
| Net Profit | -1 | -1 | -1 | -1 | -0 | -1 | -1 | -2 | -2 | 1 | -1 | 0 | 0 |
| -1.05 | -1.11 | -1.01 | -0.95 | -0.10 | -1.04 | -0.71 | -1.66 | -1.38 | 1.14 | -1.06 | 0.04 | 0.39 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | |
| 3 | 3 | 4 | 4 | 5 | 3 | 3 | 3 | 2 | 6 | 9 | |
| Operating Profit | -1 | -2 | -2 | -4 | -4 | -3 | -2 | -2 | -2 | -6 | -8 |
| OPM % | -29.55% | -90.73% | -83.98% | -701.94% | -483.92% | -446.86% | -394.37% | -360.19% | -4690.68% | -5903.08% | -723.66% |
| 1 | 1 | 2 | 6 | -1 | 3 | 3 | 13 | 2 | 4 | 5 | |
| Interest | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | -0 | -1 | -1 | 1 | -7 | -1 | -1 | 10 | -3 | -4 | -2 |
| Tax % | -0.00% | 6.54% | -12.26% | 1.07% | 0.80% | 0.30% | -1.81% | 0.77% | 3.05% | -7.15% | 138.31% |
| Net Profit | -0 | -1 | -1 | 1 | -7 | -1 | -1 | 9 | -3 | -4 | 1 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -11.17 | -1.77 | -1.55 | 15.25 | -4.12 | -3.51 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -24%
- 5 Years:
- -35%
- 3 Years:
- -45%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 63%
- 3 Years:
- 66%
- 1 Year:
- -18%
RETURN ON EQUITY
- 10 Years:
- -3%
- 5 Years:
- 4%
- 3 Years:
- 13%
- Last Year:
- -7%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 12 |
| 16 | 14 | 13 | 14 | 7 | 6 | 5 | 14 | 12 | 92 | |
| 8 | 11 | 15 | 14 | 16 | 16 | 15 | 17 | 19 | 21 | |
| Trade Payables | 2 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 0 |
| 4 | 3 | 2 | 3 | 3 | 3 | 3 | 2 | 2 | 3 | |
| Total Liabilities | 35 | 35 | 38 | 37 | 33 | 32 | 30 | 40 | 40 | 129 |
| 3 | 3 | 3 | 3 | 3 | 3 | 0 | 1 | 0 | 0 | |
| 17 | 16 | 19 | 19 | 13 | 13 | 13 | 13 | 27 | 80 | |
| 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |
| 14 | 16 | 16 | 15 | 16 | 15 | 16 | 26 | 11 | 47 | |
| Total Assets | 35 | 35 | 38 | 37 | 33 | 32 | 30 | 40 | 40 | 129 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | -0 | 0 | 0 | -1 | 0 | -0 | 1 | 0 | -2 | |
| Cash from Investing | 0 | -2 | -3 | 1 | 1 | 1 | 1 | 12 | -14 | -53 |
| Cash from Financing | -0 | 2 | 3 | -2 | 0 | -1 | -1 | -13 | 14 | 55 |
| -0 | 0 | -0 | -0 | 0 | -0 | -0 | -0 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -0.03 | -1.65 | -1.68 | 1.30 | -11.17 | -1.77 | -1.55 | 15.25 | -4.12 | -3.51 |
| Book Value (₹) | 34.64 | 32.50 | 30.94 | 32.16 | 20.99 | 19.50 | 17.89 | 33.20 | 29.32 | 84.87 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.24 | -1.42 | -1.44 | 1.56 | -10.41 | -1.01 | -0.78 | 15.86 | -3.49 | -3.22 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 19.54% | -18.15% | 4.77% | 411.86% | 54.42% | 165.32% | 185.90% | 190.45% | -4690.68% | -5903.08% |
| Net Margin % | -0.65% | -59.01% | -48.56% | 157.79% | -808.69% | -193.34% | -165.92% | 1614.17% | -5952.91% | -4452.31% |
| ROE % | -0.08% | -4.91% | -5.29% | 4.11% | -42.02% | -8.74% | -8.29% | 59.69% | -13.18% | -7.05% |
| ROCE % | 1.52% | -1.53% | -0.14% | 5.71% | -18.37% | 1.65% | 2.21% | 33.93% | -2.27% | -2.41% |
| -0.05% | -2.91% | -2.85% | 2.15% | -19.87% | -3.42% | -3.12% | 26.85% | -6.40% | -5.15% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 328 | 612 | 448 | 1291 | 598 | 590 | 429 | 432 | 2138 | 1668 |
| Inventory Days | 69 | 101 | 47 | 175 | 118 | 229 | 449 | 497 | 5233 | 1317 |
| Payable Days | 464 | 1570 | 873 | 1327 | 215 | 364 | 1257 | 526 | 4344 | 468 |
| -67 | -856 | -378 | 140 | 501 | 455 | -380 | 402 | 3027 | 2517 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.34x | 0.55x | 0.77x | 0.70x | 1.19x | 1.32x | 1.36x | 0.81x | 1.02x | 0.20x |
| Interest Coverage (x) | 0.96x | -0.72x | -0.05x | 1.72x | -4.58x | 0.30x | 0.39x | 8.57x | -0.47x | -0.94x |
| 1.34x | 0.39x | 0.24x | 0.19x | 0.21x | 0.15x | 0.32x | 0.84x | 0.75x | 1.96x | |
| GROWTH | ||||||||||
| Revenue Growth % | 63.66% | -35.97% | 28.97% | -76.19% | 68.09% | -33.69% | 1.97% | 1.16% | -92.67% | 126.81% |
| Operating Profit Growth % | -35.36% | -157.99% | 132.53% | 1950.44% | -77.79% | 101.44% | 14.67% | 3.63% | -140.34% | -256.48% |
| Net Profit Growth % | -106.76% | -5602.45% | -1.79% | 177.20% | -961.52% | 84.15% | 12.49% | 1084.13% | -127.02% | -69.63% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -127.02% | 14.78% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.64x | 4.73x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -349.81x | -321.98x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - S&S Power Switchgears Limited has informed the Exchange regarding 'General updates'.
2026-09-05 - S&S Power Switchgears Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026
2026-09-03 - S&S Power Switchgears Limited has informed the Exchange about Registrar & Share Transfer Agent Update
2026-08-24 - S&S Power Switchgears Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-08-24 - S&S Power Switchgears Limited has informed the Exchange about Awarding of order(s)/contract(s)
2026-08-21 - S&S Power Switchgears Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-08-17 - S&S Power Switchgears Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-15 - S&S Power Switchgears Limited has informed the Exchange about General Updates
2026-08-14 - S&S Power Switchgears Limited has informed the Exchange about Resignation of Director/KMP/SMP
News
Recent coverage and analyst commentary for S&SPOWER
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