S & S Power Switchgear Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹332 Cr
- P/E
- 41.14
- ROE
- 12.78%
- PEG
- 0.54
- Price to sales
- 1.20
- Debt to equity
- 0.44
- 52W high / low
- ₹424 / ₹204
- Sales growth (5Y)
- 14.56%
- EBITDA margin
- 3.11%
- Net profit margin
- 3.90%
- Promoter holding
- 74.97%
- Sales (last year)
- ₹276 Cr
S&S Power Switchgear Ltd is the listed holding company of an electrical-engineering group supplying high-voltage disconnectors and retrofit services through SSPSE, protection and control panels through Acrastyle UK, LV panels through APIL and automation systems for aluminium smelters through HART. The group serves utilities and industrial customers across India, the UK and export markets.[1][2]
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹66,283 Cr | 16.5 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 11.6 | |
| 3 | 40%+ | Up 0–2% | ₹12,066 Cr | 47.0 | |
| 4 | 40%+ | Up 0–2% | ₹500 Cr | 6.7 | |
| 5 | 40%+ | Flat | ₹20,621 Cr | 111.2 | |
| 6 | 40%+ | Flat | ₹15,855 Cr | 11.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of S & S Power Switchgear Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of S & S Power Switchgear Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 46.38 | 36.07 | 33.73 | 46.47 | 43.10 | 36.17 | 54.51 | 39.32 | 55.50 | 59.36 | 60.23 | 79.08 | 65.07 |
| Expenses + | 45.05 | 34.86 | 31.61 | 41.84 | 40.20 | 36.50 | 49.38 | 41.31 | 55.26 | 56.32 | 63.04 | 74.40 | 60.14 |
| Operating Profit | 1.33 | 1.21 | 2.12 | 4.63 | 2.90 | -0.33 | 5.13 | -1.99 | 0.24 | 3.04 | -2.81 | 4.68 | 4.93 |
| OPM % | 2.87% | 3.35% | 6.29% | 9.96% | 6.73% | -0.91% | 9.41% | -5.06% | 0.43% | 5.12% | -4.67% | 5.92% | 7.58% |
| Other Income + | 1.50 | 0.21 | 0.13 | 0.73 | 0.12 | 0.28 | 0.87 | -1.35 | 0.75 | 1.06 | 0.84 | 1.20 | -0.03 |
| Interest | 0.95 | 1.29 | 1.34 | 1.33 | 1.51 | 1.49 | 0.89 | 0.67 | 2.35 | 0.90 | 0.77 | 0.81 | 2.43 |
| Depreciation | 0.52 | 0.56 | 0.59 | 0.63 | 0.60 | 0.69 | 0.85 | 0.89 | 0.47 | 0.58 | 0.59 | 0.61 | 0.61 |
| Profit before tax | 1.36 | -0.43 | 0.32 | 3.40 | 0.91 | -2.23 | 4.26 | -4.90 | -1.83 | 2.62 | -3.33 | 4.46 | 1.86 |
| Tax % | 30.15% | 0.00% | -9.38% | -0.88% | -7.69% | -1.79% | 9.86% | 7.55% | -90.16% | 32.44% | -187.99% | 21.30% | -2.15% |
| Net Profit + | 0.95 | -0.43 | 0.35 | 3.42 | 0.98 | -2.18 | 3.84 | -5.28 | -0.17 | 1.77 | 2.93 | 3.51 | 1.90 |
| EPS in Rs | 1.02 | -1.32 | 0.73 | 4.44 | 0.82 | -1.95 | 3.02 | -4.28 | -0.14 | 1.43 | 2.37 | 2.84 | 1.54 |
Financials of S & S Power Switchgear Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 90 | 114 | 87 | 103 | 103 | 92 | 132 | 110 | 140 | 159 | 186 | 264 |
| Expenses + | 90 | 107 | 85 | 99 | 106 | 97 | 128 | 120 | 138 | 148 | 182 | 254 |
| Operating Profit | 0 | 7 | 2 | 3 | -3 | -6 | 3 | -9 | 2 | 11 | 3 | 10 |
| OPM % | 0% | 6% | 2% | 3% | -3% | -6% | 3% | -9% | 1% | 7% | 2% | 4% |
| Other Income + | 4 | 2 | 2 | 5 | 2 | -4 | 2 | 1 | 8 | 1 | 1 | 3 |
| Interest | 2 | 2 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 6 | 5 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 2 |
| Profit before tax | 1 | 6 | 0 | 5 | -4 | -16 | -2 | -15 | 2 | 4 | -5 | 6 |
| Tax % | 13% | 3% | -63% | 11% | -2% | -1% | -11% | 0% | 11% | -3% | -19% | -80% |
| Net Profit + | 1 | 6 | 0 | 4 | -4 | -15 | -2 | -16 | 2 | 4 | -4 | 10 |
| EPS in Rs | 1.40 | 6.27 | 0.48 | 4.85 | -3.32 | -23.19 | -2.56 | -21.15 | 3.95 | 4.66 | -3.07 | 8.19 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of S & S Power Switchgear Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 12 | 12 |
| Reserves | 32 | 37 | 7 | 10 | 6 | -6 | -8 | -18 | -14 | -12 | 57 | 77 |
| Borrowings + | 17 | 16 | 19 | 30 | 30 | 22 | 21 | 49 | 52 | 59 | 29 | 39 |
| Other Liabilities + | 67 | 70 | 52 | 57 | 55 | 76 | 97 | 73 | 68 | 83 | 122 | 145 |
| Total Liabilities | 122 | 130 | 84 | 103 | 98 | 98 | 117 | 110 | 112 | 137 | 220 | 273 |
| Fixed Assets + | 76 | 78 | 37 | 45 | 44 | 41 | 43 | 41 | 44 | 45 | 77 | 85 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 46 | 52 | 44 | 58 | 54 | 57 | 74 | 69 | 68 | 92 | 142 | 188 |
| Total Assets | 122 | 130 | 84 | 103 | 98 | 98 | 117 | 110 | 112 | 137 | 220 | 273 |
Financials of S & S Power Switchgear Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | 5 | -0 | 1 | -0 | 15 | 6 | -4 | -11 | 6 | 12 | -2 |
| Cash from Investing Activity + | 0 | -1 | -1 | -4 | -0 | -4 | -1 | -1 | 10 | -2 | 41 | -12 |
| Cash from Financing Activity + | 0 | -2 | 1 | 2 | -2 | -12 | -3 | 4 | -1 | 2 | -41 | 9 |
| Net Cash Flow | 0 | 2 | 0 | -1 | -3 | -0 | 2 | -0 | -2 | 5 | 11 | -5 |
| Free Cash Flow | 0 | 4 | -2 | 0 | -0 | 12 | 5 | -4 | -2 | 4 | 6 | -4 |
| CFO/OP | 0% | 66% | -18% | 20% | 7% | -276% | 163% | 40% | -697% | 32% | 458% | 27% |
Financials of S & S Power Switchgear Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 86 | 77 | 92 | 117 | 107 | 100 | 94 | 86 | 73 | 91 | 88 | 94 |
| Inventory Days | 101 | 74 | 55 | 72 | 67 | 123 | 83 | 96 | 85 | 93 | 148 | 128 |
| Days Payable | 229 | 172 | 167 | 140 | 152 | 204 | 156 | 193 | 145 | 171 | 263 | 204 |
| Cash Conversion Cycle | -42 | -20 | -20 | 48 | 22 | 18 | 21 | -11 | 13 | 14 | -27 | 18 |
| Working Capital Days | -51 | -29 | -45 | -29 | -33 | -84 | -71 | -123 | 21 | 24 | 7 | 20 |
| ROCE % | -1% | 9% | 5% | 18% | -4% | -18% | 14% | -37% | 4% | 20% | 3% | 9% |
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What S & S Power Switchgear Ltd's management said in earlier quarters
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