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Suraj Products Ltd

₹ 1804.99%
16 Jan – close price
🔗surajproducts.com•BSE: 518075•NSE:
Market Cap₹ 205 Cr.
Current Price₹ 180
High / Low₹ 479
Stock P/E12.8
Book Value₹ 136
Dividend Yield1.17 %
ROCE17.4 %
ROE15.3 %
Face Value₹ 10.0
Sales₹ 297 Cr.
OPM9.71 %
Mar Cap₹ 205 Cr.

ABOUT

Incorporated in 1991, Suraj ProductLtd manufactures finished productsfrom Iron Ore[1]

KEY POINTS

Business Overview:[1][2]SPL does production of Sponge Iron by direct reduction of Iron Ore, Pig Iron, Ingots/Billet, TMT Bars & Generation of Power. It is a secondary steel producer and derives the major portion of itsrevenue from semi-urban and rural areas.

Also present in buckets:
Aggressive Growth TriggersRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.APL Apollo Tubes1940.7051.3753873.860.30301.54460.385206.309.0622.3621317.407.401048.79301.5411.7010.020.16
2.Shyam Metalics813.4523.4322739.950.55260.4521.474457.0222.6512.0516767.7312.46970.37261.762.065.920.10
3.Welspun Corp736.8510.9619447.950.68443.5148.674373.6132.4621.2415463.5813.001773.93439.682.378.930.19
4.Godawari Power257.5523.2917312.050.39161.651.781307.683.1623.255396.6120.82743.44161.443.3013.860.04
5.Ratnamani Metals2090.1024.1314637.460.67156.0435.691191.6922.6921.515374.7616.84606.49136.223.7812.110.06
6.Gallantt Ispat L554.7027.3213461.190.2388.9381.901012.757.4519.204331.0017.56492.7088.934.3111.960.21
7.Usha Martin425.1530.7112959.080.71109.8016.20907.561.8418.753551.3716.89421.99127.504.3711.500.09
8.Suraj Products179.7512.78204.921.173.20-50.6958.69-22.4517.45297.459.7116.033.201.3211.600.08
–Median: 82 Co.153.0722.4895.10.010.4611.74201.638.9613.95739.18.3533.8310.522.266.80.26

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
60.8246.54102.67111.2167.7873.5992.0992.6475.6867.2290.8480.7058.69
Expenses
48.5835.0788.4296.7755.4160.4781.1681.7465.1359.8882.4473.4252.83
Operating Profit
12.2411.4714.2514.4412.3713.1210.9310.9010.557.348.407.285.86
Other Income
0.040.030.150.190.040.250.290.060.080.060.330.100.26
Profit before tax
9.118.2110.8011.439.4110.278.108.447.984.886.325.284.08
Tax %
28.21%32.16%29.54%26.60%22.32%27.85%28.15%20.62%18.67%18.44%32.75%13.07%21.57%
Net Profit
6.545.577.618.397.317.415.826.716.493.994.254.593.20
EPS in Rs
5.744.896.687.366.416.505.115.895.693.503.734.032.81

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
8893566070116118218237285345326297
Expenses
8084515558102101187193237294289269
Operating Profit
8955121417314448513729
Other Income
0000000000111
Interest
4223546744322
Depreciation
3322447999987
Profit before tax
2411364153136392821
Net Profit
130146592426292116
EPS in Rs
1.012.220.380.843.145.534.748.0420.6822.8225.3818.8014.07
Dividend Payout %
59%32%0%0%0%0%0%0%5%7%8%11%–

Compounded Sales Growth

10 Years:13%
5 Years:23%
3 Years:11%
TTM:-11%

Compounded Profit Growth

10 Years:24%
5 Years:32%
3 Years:-3%
TTM:-39%

Stock Price CAGR

10 Years:27%
5 Years:39%
3 Years:10%
1 Year:-61%

Return on Equity

10 Years:20%
5 Years:24%
3 Years:22%
Last Year:15%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
11111111111111111111111111
Reserves
16181819222934436792119138144
Borrowings
34182545516487666154412113
Other Liabilities
564447179515141216
Total Liabilities
6753597989111149130145172186183183
Fixed Assets
22212039415782757484756968
Gross Block
48.3950.0251.1272.1179.9397.72129.07131.31138.67157.78157.98159.41–
Accumulated Depreciation
26.2228.9731.1132.8638.5840.2746.8056.1665.0373.9782.8190.44–
CWIP
00006130000131
Investments
00000000000011
Other Assets
45323940414067547188110111104
Total Assets
6753597989111149130145172186183183

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1022-47820-03313333130
Cash from Investing Activity
-6-2-1-21-12-28-16-2-7-19-1-5
Cash from Financing Activity
-4-194171816-28-9-13-18-24
Net Cash Flow
-11-12-20-02-31131

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
2120242115819121015816
Inventory Days
1658824620719711422183120667468
Days Payable
12152016111661105666
Cash Conversion Cycle
1759225021220110617886125757678
Working Capital Days
823099866920351746424964
ROCE %
9%11%5%6%10%11%8%17%27%27%26%17%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%73.70%
FIIs
–––––––––––––
DIIs
0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public
26.26%26.27%26.28%26.27%26.27%26.28%26.28%26.27%26.28%26.28%26.27%26.28%26.26%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Suraj Limited plans ₹15 Crore capacity expansion to 7000 MT per annum

8th April 2026, 11:38 pm

Suraj Products Limited confirms SEBI dematerialization compliance for Q4 FY26

8th April 2026, 6:50 pm

Suraj Limited Confirms SEBI Dematerialization Compliance for Q4 FY26

7th April 2026, 6:29 pm

Suraj Products Announces Trading Window Closure Ahead of Q4/FY26 Results

31st March 2026, 12:22 am

Suraj Limited to Close Trading Window from April 1 for Financial Results

24th March 2026, 6:10 pm

Published by Other Websites

External media mentions & references

NHPC, NTPC Score Big Projects; Pharma Giants Lupin, Zydus Gain US FDA Nod

9th April 2026, 7:18 am

Mixed Earnings Shake Indian Markets; IndiGo, Bandhan Bank Fall

23rd January 2026, 7:30 am

Indian Firms Declare Dividends, Stock Splits Ahead of Jan 2026 Dates

18th January 2026, 5:46 pm

Dividend Watch: Bank of Maharashtra, Angel One, ICICI Pru AMC Lead Week's Payouts

18th January 2026, 7:49 am

Suraj Ltd. Trading Window Shuts April 1 for FY26 Audited Results

News Articles

Editorial & research coverage

Dividend Watch: Bank of Maharashtra, Angel One, ICICI Pru AMC Lead Week's Payouts
Dividend Watch: Bank of Maharashtra, Angel One, ICICI Pru AMC Lead Week's Payouts

18th January 2026, 7:49 am

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

7 Jan - Submission of Compliance Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018.

Closure of Trading Window
Disclosure Under Regulation 30.

27 Nov 2025 - Arbitration award ₹7,46,44,375 to Suraj Products vs Everllence India; interest and 30-day payment terms (26 Nov 2025).

Announcement under Regulation 30 (LODR)-Newspaper Publication

11 Nov 2025 - Submission of Newspaper cutting published for outcome of Board Meeting held on 10.11.2025 and Financial Results (Standalone & Consolidated) for the quarter and half year …

Financial Results For The Quarter & Half Year Ended 30.09.2025.

10 Nov 2025 - Board approved unaudited standalone and consolidated results for quarter/six months ended Sep 30, 2025; limited review enclosed.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

21 Apr 2025 from icra

Rating update

29 Nov 2024 from crisil

Rating update

26 Feb 2024 from icra

Rating update

28 Sep 2023 from crisil

Rating update

30 Nov 2022 from icra

Rating update

30 Jul 2022 from crisil

Concalls

No concalls.

Stock Analysis

Description

Suraj Products Ltd. is an Indian company established in 1991, engaged in manufacturing finished products from Iron Ore, including Sponge Iron, Pig Iron, Ingots/Billet, and TMT Bars, as well as power generation. It operates as a secondary steel producer.

Key Growth Triggers

The company has established a wholly-owned subsidiary in Abu Dhabi, UAE, to expand its reach into the Ferro Alloys and Green Iron & Steel markets.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. Suraj Products Limited reported a YoY decline in revenue and profit after tax for FY25, with a reduction in EPS.
  2. Suraj Ltd reported a significant 87.2% YoY decline in its consolidated net profit for Q2 FY26.

Key Dates To Watch

Announcement of Suraj Products Limited's unaudited financial results for the third quarter and nine months ended December 31, 2025, which were pending as of January 7, 2026, following a trading window closure initiated from January 1, 2026.

Corporate Announcements

8th Apr 26
Impact Rating: 8
Suraj Limited is enhancing its manufacturing capacity to a total of 7000 MT per annum for up to 170 MM OD pipes. This expansion, requiring a ₹15 Crore investment, is expected to be completed by September 2026.
8th Apr 26
Impact Rating: 6
Suraj Products Limited filed its quarterly SEBI dematerialization compliance report. The RTA confirmed submission of the Demat Transfer Register for the quarter ended March 31, 2026, to exchanges and depositories.
7th Apr 26
Impact Rating: 5
Suraj Limited received confirmation from its registrar, MCS Share Transfer Agent, regarding compliance with SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending March 31, 2026.
30th Mar 26
Impact Rating: 4
Suraj Products Limited has announced the closure of its trading window starting April 1, 2026. This restriction applies to promoters, designated persons, and connected individuals until 48 hours after the declaration of financial results for the quarter and year ending March 31, 2026.
24th Mar 26
Impact Rating: 6
Suraj Limited's trading window will be shut from April 1, 2026, until 48 hours post-announcement of audited financial results for the fiscal year ending March 31, 2026.