Suratwwala Business Group Ltd.

•

suratwwala.co.inBSE: 543218NSE: SBGLP

Market Cap₹ 410 Cr.

Current Price

High / Low₹ 41 / 18

Stock P/E12.9

Book Value₹ 6

Price to Book8.72

Dividend Yield0.42 %

ROCE14.3 %

ROE17.0 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 1430.5%
Company has a healthy return on capital (ROCE) of 106.2%
Operating margins have improved to 41.3% from -327.0%
Company has delivered good sales growth of 24.6% CAGR over last 5 years
Latest quarter profit grew 25.8% YoY, showing strong momentum

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.09x)
Working capital days have increased from 256 to 844 days
Total debt has risen sharply - up 192.1% year on year
Stock is trading at 8.7x its book value

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

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	670.00	37.30	165845.88	1.19	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1211.80	29.35	121085.87	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1930.00	53.93	69031.83	0.13	394.51	22.95	1074.94	12.80	13.70	59.77
4.	OBEROIRLTY	1877.50	25.96	68266.32	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
5.	PRESTIGE	1579.00	59.72	68012.30	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
6.	GODREJPROP	1960.00	36.90	59040.39	0.51	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	587.90	36.57	21157.16	0.17	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	639.90	30.04	20877.33	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1331.60	112.46	14873.40	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1230.00	57.04	13155.32	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	765.70	10.32	10772.33	0.00	-16.53	-148.00	551.99	-36.24	7.49	-8.10
12.	SBGLP	23.67	9.79	410.48	0.42	9.34	75.30	42.12	164.08	13.05	31.88

Detailed Comparison with:

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
	16	18	16	21	9	1	1	21	15	17	21	36	19
	8	7	7	11	3	1	1	13	9	8	10	22	11
Operating Profit	8	11	9	10	5	-0	-0	9	7	9	10	14	9
OPM %	48.62%	60.52%	55.54%	49.29%	59.86%	-9.16%	-53.19%	40.90%	43.38%	52.07%	50.51%	39.32%	46.10%
Other Income	0	0	0	0	0	1	1	-0	1	0	0	-0	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	8	11	9	10	5	1	0	9	7	9	11	14	9
Tax %	-0.93%	25.23%	27.41%	45.52%	25.09%	58.49%	5.26%	26.76%	25.74%	24.86%	25.97%	26.02%	25.85%
Net Profit	8	8	7	6	4	0	0	6	5	7	8	10	7
	0	0	0	0	0	0	0	0	0	0	0	1	0
Equity Capital	17	17	17	17	17	17	17	17	17	17	17	17	17
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	16	11	9	11	13	1	62	72	32	93
	12	6	6	7	2	4	32	33	19	51
Operating Profit	5	5	3	3	12	-3	30	40	15	—
OPM %	28	44	33	32	93	-327	49	55	47	—
Other Income	0	0	0	0	1	1	0	1	2	1
Interest	1	0	1	3	4	4	3	2	0	0
Depreciation	0	0	0	0	0	0	0	0	0	1
	3	4	1	1	8	-7	27	38	15	43
Tax %	34	36	42	11	23	-55	23	26	27	26
Net Profit	2	3	1	0	6	-11	21	28	11	32
EPS	0	0	0	0	4	-6	1	2	1	—
Dividend Payout %	0	0	0	0	11	0	0	0	16	—
Minority Interest	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	0	0	0	0	0	-1	1	0	1	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 25%
3 Years:: 244%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 88%
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -8%
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 839%
3 Years:: 1430%
Last Year:: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-
Equity Capital	0	0	9	13	17	17	17	17	17
	6	9	1	1	10	-27	-6	41	51
	0	0	0	0	6	6	2	16	7
Trade Payables	1	1	4	1	2	2	8	9	12
	21	21	30	39	39	90	73	24	82
Total Liabilities	28	31	44	54	74	89	94	107	169
ASSETS	-	-	-	-	-	-	-	-	-
	0	1	1	1	0	1	1	1	21
	1	0	2	2	2	1	1	3	11
	13	19	26	32	43	71	77	78	103
	0	0	0	0	0	0	0	7	2
Cash & Bank	0	0	0	1	1	1	1	6	1
	13	10	16	19	27	16	15	14	30
Total Assets	28	31	44	54	74	89	94	107	169
Total Debt	7	4	16	24	24	19	7	21	60
Net Working Capital	11	10	22	26	34	-9	2	50	75
Contingent Liabilities	0	0	0	0	0	0	3	5	0
Book Value per Share	2779.34	4012.42	10.86	10.96	15.60	-5.83	6.41	3.34	3.95
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	1.00	1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1	2	-13	-12	-7	9	7	1	-3
Cash from Investing	3	1	-0	-0	-0	-0	-1	-10	-41
Cash from Financing	-4	-4	13	12	7	-9	-7	14	39
	-0	-0	-0	0	0	-0	0	5	-4
Free Cash Flow	1	2	-13	-12	-7	8	7	0	-23
OCF / Net Profit	0.29	0.86	-16.53	-25.46	-1.10	-0.85	0.35	0.03	-0.26
Cumulative 5-Year FCF	0	0	0	0	0	-21	-16	-3	-14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1000.23	1233.07	0.85	0.36	3.57	-6.20	12.22	1.60	0.62
Book Value (₹)	2779.34	4012.42	10.86	10.96	15.60	-5.83	6.41	3.34	3.95
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.40	0.00	0.00	0.00	0.10
Cash EPS (₹)	0.27	0.32	0.11	0.05	0.37	-0.61	1.23	0.16	0.64
PROFITABILITY
Operating Margin %	28.09%	44.49%	32.64%	31.97%	92.70%	-326.98%	48.94%	54.51%	41.29%
Net Margin %	13.66%	25.33%	8.49%	4.23%	48.61%	-1354.28%	34.30%	38.64%	33.30%
ROE %	35.99%	36.31%	8.18%	3.84%	30.22%	-126.81%	4193.81%	80.61%	16.99%
ROCE %	32.58%	35.15%	13.99%	10.20%	26.04%	-9.38%	222.52%	81.89%	14.34%
	7.88%	9.25%	2.02%	0.93%	9.74%	-13.26%	23.21%	27.63%	7.77%
EFFICIENCY
Debtor Days	0	0	166	166	231	2580	4	19	49
Inventory Days	290	542	918	978	1066	0	436	392	1028
Payable Days	56	391	-511	243	-221	0	77	111	285
	234	151	1595	901	1517	2580	363	300	791
FINANCIAL HEALTH
Debt to Equity (x)	1.18x	0.47x	1.63x	1.73x	0.90x	-1.88x	0.63x	0.36x	0.88x
Interest Coverage (x)	4.30x	11.52x	1.94x	1.19x	3.25x	-0.69x	11.66x	20.68x	92.42x
	1.72x	1.58x	2.16x	2.62x	2.19x	0.89x	1.02x	2.15x	2.55x
GROWTH
Revenue Growth %	0.00%	-33.53%	-17.23%	19.83%	18.66%	-93.78%	7687.18%	16.47%	-55.21%
Operating Profit Growth %	0.00%	5.27%	-39.28%	17.37%	244.07%	-121.95%	1265.65%	31.79%	-61.80%
Net Profit Growth %	0.00%	23.28%	-72.25%	-40.37%	1264.50%	-273.41%	297.25%	31.18%	-61.40%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-86.88%	-61.40%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	54.31x	55.65x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	260.96x	8.72x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.29%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	379.26x	43.12x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.39	73.39	73.39	73.39	73.39	73.39	73.39	73.39	73.39
	0.11	0.03	0.30	0.05	0.00	0.00	0.01	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.50	26.58	26.30	26.56	26.60	26.61	26.60	26.61	26.60

Documents

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

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Suratwwala Business Group Limited has informed the Exchange about Copy of Newspaper Publication intimating the Dispatch of Annual Report for the Financial Year 2025-26 along with Notice of 19th Annual General Meeting to be held on Wednesday, September 23, 2026 at 4:00 P.M. (IST).

2026-08-31

Shareholders meeting

2026-08-31 - Suratwwala Business Group Limited has informed the Exchange about 19th Annual General meeting

2026-08-17

Copy of Newspaper Publication

2026-08-17 - Suratwwala Business Group Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Record Date

2026-08-13 - Suratwwala Business Group Limited has informed the Exchange that Record date for the purpose of Final Dividend is 11-Sep-2026.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Outcome of board meeting

2026-07-14

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-14 - Suratwwala Business Group Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-24

Trading Window

2026-06-24 - Suratwwala Business Group Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-19

General Updates

2026-06-19 - Suratwwala Business Group Limited has informed the Exchange about Update on Investor/Analyst meet_Samruddhiseason3_organised by Hem Securities.

2026-06-10

General Updates

2026-06-10 - Suratwwala Business Group Limited has informed the Exchange about about Participation at Samruddhi Season 3 Nav-Bharat ka Caravan

News

Recent coverage and analyst commentary for SBGLP

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Suratwwala Business Group Ltd.

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Free 5nance Account

Name

DLF

670.00

37.30

165845.88

1.19

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1211.80

29.35

121085.87

0.35

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1930.00

53.93

69031.83

0.13

394.51

22.95

1074.94

12.80

13.70

59.77

OBEROIRLTY

1877.50

25.96

68266.32

0.43

543.51

29.02

1300.89

31.73

17.69

56.75

PRESTIGE

1579.00

59.72

68012.30

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

GODREJPROP

1960.00

36.90

59040.39

0.51

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

587.90

36.57

21157.16

0.17

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

639.90

30.04

20877.33

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1331.60

112.46

14873.40

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1230.00

57.04

13155.32

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

765.70

10.32

10772.33

0.00

-16.53

-148.00

551.99

-36.24

7.49

-8.10

SBGLP

23.67

9.79

410.48

0.42

9.34

75.30

42.12

164.08

13.05

31.88

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

Operating Profit

-0

OPM %

48.62%

60.52%

55.54%

49.29%

59.86%

-9.16%

-53.19%

40.90%

43.38%

52.07%

50.51%

39.32%

46.10%

Other Income

-0

Interest

Depreciation

Tax %

-0.93%

25.23%

27.41%

45.52%

25.09%

58.49%

5.26%

26.76%

25.74%

24.86%

25.97%

26.02%

25.85%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

Operating Profit

-3

—

OPM %

-327

—

Other Income

Interest

Depreciation

-7

Tax %

-55

Net Profit

-11

EPS

-6

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-1

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

-27

-6

Trade Payables

Total Liabilities

107

169

ASSETS

103

Cash & Bank

Total Assets

107

169

Total Debt

Net Working Capital

-9

Contingent Liabilities

Book Value per Share

2779.34

4012.42

10.86

10.96

15.60

-5.83

6.41

3.34

3.95

Face Value

10.00

1.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-13

-12

-7

-3

Cash from Investing

-0

-1

-10

-41

Cash from Financing

-4

-9

-7

-0

-4

Free Cash Flow

-13

-12

-7

-23

OCF / Net Profit

0.29

0.86

-16.53

-25.46

-1.10

-0.85

0.35

0.03

-0.26

Cumulative 5-Year FCF

-21

-16

-3

-14

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

1000.23

1233.07

0.85

0.36

3.57

-6.20

12.22

1.60

0.62

Book Value (₹)

2779.34

4012.42

10.86

10.96

15.60

-5.83

6.41

3.34

3.95

Dividend per Share (₹)

0.00

0.40

0.00

0.10

Cash EPS (₹)

0.27

0.32

0.11

0.05

0.37

-0.61

1.23

0.16

0.64

PROFITABILITY

Operating Margin %

28.09%

44.49%

32.64%

31.97%

92.70%

-326.98%

48.94%

54.51%

41.29%

Net Margin %

13.66%

25.33%

8.49%

4.23%

48.61%

-1354.28%

34.30%

38.64%

33.30%

ROE %

35.99%

36.31%

8.18%

3.84%

30.22%

-126.81%

4193.81%

80.61%

16.99%

ROCE %

32.58%

35.15%

13.99%

10.20%

26.04%

-9.38%

222.52%

81.89%

14.34%

7.88%

9.25%

2.02%

0.93%

9.74%

-13.26%

23.21%

27.63%

7.77%

EFFICIENCY

Debtor Days

166

231

2580

Inventory Days

290

542

918

978

1066

436

392

1028

Payable Days

391

-511

243

-221

111

285

234

151

1595

901

1517

2580

363

300

791

FINANCIAL HEALTH

Debt to Equity (x)

1.18x

0.47x

1.63x

1.73x

0.90x

-1.88x

0.63x

0.36x

0.88x

Interest Coverage (x)

4.30x

11.52x

1.94x

1.19x

3.25x

-0.69x

11.66x

20.68x

92.42x

1.72x

1.58x

2.16x

2.62x

2.19x

0.89x

1.02x

2.15x

2.55x

GROWTH

Revenue Growth %

0.00%

-33.53%

-17.23%

19.83%

18.66%

-93.78%

7687.18%

16.47%

-55.21%

Operating Profit Growth %

0.00%

5.27%

-39.28%

17.37%

244.07%

-121.95%

1265.65%

31.79%

-61.80%

Net Profit Growth %

0.00%

23.28%

-72.25%

-40.37%

1264.50%

-273.41%

297.25%

31.18%

-61.40%

0.00%

-86.88%

-61.40%

VALUATION

P/E (x)

0.00x

54.31x

55.65x

P/B (x)

0.00x

260.96x

8.72x

Dividend Yield %

0.00%

0.29%

0.00x

379.26x

43.12x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

73.39

0.11

0.03

0.30

0.05

0.00

0.01

0.00

DIIs

0.00

Government

0.00

26.50

26.58

26.30

26.56

26.60

26.61

26.60

26.61

26.60

Suratwwala Business Group Ltd.

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Suratwwala Business Group Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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