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Salzer Electronics Ltd.

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salzergroup.net/BSE: 517059NSE: SALZERELEC
Market Cap₹ 973 Cr.
Current Price
High / Low₹ 952 / 489
Stock P/E21.8
Book Value₹ 332
Price to Book1.50
Dividend Yield0.45 %
ROCE11.2 %
ROE9.7 %
Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

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.

Confidence
72%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 21.1% CAGR over last 5 years
  • Company has delivered good sales growth of 23.1% CAGR over last 5 years
  • Stock looks reasonably valued - P/E of 21.8 is below its historical median
  • Company has a consistent dividend-paying track record
  • Institutional investors have been accumulating - FII+DII up 2.2pp

CONS

  • Recent results are weak - TTM profit is down 17.8% versus prior year
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.26x)
  • Free cash flow has been persistently negative
  • Recurring exceptional / one-off items are inflating headline profit
  • Though reporting repeated profits, the company pays out little dividend (8.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsElectric Equipment
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.ABB7269.1051.56154038.320.543623.00930.0235588.701110.3130.1812.56
2.CGPOWER910.00114.69143365.960.14308.2815.523280.8113.9927.9412.11
3.SIEMENS3960.9043.07141055.770.45214.31-49.384713.708.4421.429.14
4.POWERINDIA31415.40121.72140025.860.032941.502135.1824936.901586.1828.7314.58
5.GVT&D4545.00623.18116373.150.22362.9924.651836.1438.0475.5125.10
6.ENRIN3178.7576.08113201.810.13440.9067.832485.6039.2840.1923.56
7.WAAREEENER2627.5019.8075580.390.158918.701053.9479317.901692.1637.9218.15
8.APARINDS17496.1562.0173260.470.34467.4577.806591.0629.6431.8411.50
9.HAVELLS1114.8042.8469960.570.90289.71-16.646518.1919.4825.747.15
10.SUZLON44.1619.3160700.730.00305.22-5.893829.0922.8335.7915.55
11.SCHNEIDER1227.70159.7529354.800.0012.44-69.84651.364.7831.015.23
12.SALZERELEC550.4022.27973.260.458.33-51.65498.0212.9011.406.07
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
282274262318347336334366432409412462486
257248233287316303299339391374376432475
Operating Profit25252931313334264135363011
OPM %8.73%9.24%11.20%9.74%9.01%9.86%10.29%7.16%9.55%8.48%8.69%6.41%2.26%
10101162211000
Interest8899101010111211121212
Depreciation4555556667767
Profit before Tax13131717173420122418171111
Tax %27.91%25.38%25.66%29.81%23.68%21.88%26.78%29.36%26.67%24.79%25.89%11.56%24.55%
Net Profit9912121326158181313108
5.715.677.396.957.5714.828.244.669.957.627.215.674.79

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
3854435605676067841,0131,1361,3831,7151,769
3413894965025447209221,0271,2581,5741,658
Operating Profit44536465626491109125141111
OPM %11.47%12.03%11.37%11.47%10.20%8.14%9.00%9.59%9.03%8.21%6.28%
531122132132
Interest1515202121202634414747
Depreciation911121416161619222627
Profit before Tax2631323027305059827058
Tax %33.56%35.30%25.85%13.40%23.16%25.43%27.77%27.29%24.49%23.56%22.47%
Net Profit1720242621223643625445
EPS0.000.000.000.0012.9314.0720.5824.8435.2130.44—
Dividend Payout %13.24%11.99%10.67%0.00%12.37%12.80%9.79%10.06%7.10%8.21%—

COMPOUNDED SALES GROWTH

10 Years:
17%
5 Years:
23%
3 Years:
19%

COMPOUNDED PROFIT GROWTH

10 Years:
12%
5 Years:
21%
3 Years:
14%

STOCK PRICE CAGR

10 Years:
10%
5 Years:
27%
3 Years:
13%
1 Year:
-34%

RETURN ON EQUITY

10 Years:
9%
5 Years:
10%
3 Years:
11%
Last Year:
10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 28

₹ 0.25

Rs.2.5000 per share(25%)Dividend

2025

Aug 29

₹ 0.25

Rs.2.5000 per share(25%)Final Dividend

2024

Aug 30

₹ 0.25

Rs.2.5000 per share(25%)Dividend

2023

Aug 25

₹ 0.22

Rs.2.2000 per share(22%)Final Dividend

2022

Aug 25

₹ 0.18

Rs.1.8000 per share(18%)Dividend

2021

Aug 26

₹ 0.16

Rs.1.6000 per share(16%)Dividend

2018

Sep 12

₹ 0.16

Rs.1.6000 per share(16%)Dividend

2017

Aug 31

₹ 0.16

Rs.1.6000 per share(16%)Dividend

2016

Jun 9

₹ 0.16

Rs.1.6000 per share(16%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
14151616161616171818
218254271293315335374447513561
115135140174200248273303448520
Trade Payables283654505974110145125174
799685738569104586266
Total Liabilities4545375666076747428769701,1651,338
139166183207211214231254295323
Capital Work in Progress9663111237
53420212122252631
93139143157177224270290364462
0000000332409431
Cash & Bank121014910813457
196213216212253274341646377
Total Assets4545375666076747428769701,1651,338

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
1523584119-53420-2142
Cash from Investing-13-33-28-50-17-18-32-39-51-62
Cash from Financing1226-19942914157221
-0-24-52-25-500

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
37.5337.5337.5437.5437.5437.4737.4837.4837.48
2.812.653.972.582.352.392.564.454.51
0.110.110.390.100.010.020.020.010.10
Government0.000.000.000.000.000.000.000.000.00
59.5559.7158.1059.7860.1060.1359.9558.0657.91

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12
Shareholders meeting

2026-09-12 - Salzer Electronics Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 12, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-12
Shareholders meeting

2026-09-12 - Salzer Electronics Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 12, 2026

2026-08-21
Copy of Newspaper Publication

2026-08-21 - Salzer Electronics Limited has informed the Exchange about Copy of Newspaper Publication - Notice of 41st AGM to the shareholders

2026-08-20
Shareholders meeting

2026-08-20 - Salzer Electronics Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 12, 2026

2026-08-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Salzer Electronics Limited has informed the Exchange about Transcript

2026-08-10
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Salzer Electronics Limited has informed the Exchange about Link of Recording

2026-08-10
Copy of Newspaper Publication

2026-08-10 - Salzer Electronics Limited has informed the Exchange about Copy of Newspaper Publication of Un-audited Results of Q1FY27

2026-08-09
Investor Presentation

2026-08-09 - Salzer Electronics Limited has informed the Exchange about Investor Presentation

2026-08-09
Press Release

2026-08-09 - Salzer Electronics Limited has informed the Exchange regarding a press release dated August 09, 2026, titled "Filing of Media Release on the results of Q1FY27".

News

Recent coverage and analyst commentary for SALZERELEC

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