Salzer Electronics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹831 Cr
- P/E
- 18.79
- ROE
- 9.55%
- PEG
- 1.37
- Price to sales
- 0.48
- Debt to equity
- 0.92
- 52W high / low
- ₹879 / ₹468
- Sales growth (5Y)
- 23.15%
- EBITDA margin
- 7.33%
- Net profit margin
- 3.09%
- Promoter holding
- 37.47%
- Sales (last year)
- ₹1,769 Cr
Salzer Electronics Limited is engaged in offering Total and Customised Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. It is also involved in manufacturing CAM Operated Rotary switches & Wire Ducts in India. [1]
Guidance scorecard · Q1 FY27 call
What Salzer Electronics Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ1 FY27 call
20–40%- Salzer Electronics expects incremental revenue from its Saudi Arabia plant starting FY28, projected at around INR 25 crores.
- The company forecasts a revenue growth rate of approximately 23% to 25% for the current year, achievable within existing capacity for Switchgear and Wire & Cable segments.
- Kaycee Industries, a subsidiary, has grown at a CAGR of 27% over the last 4 years and is expected to continue similar growth for the next 3-4 years.
2 more points from Salzer Electronics Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
FlatSee what Salzer Electronics Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- FY27 capex expected to be minimal (~INR 15-16 crores) mainly for balancing and maintenance.
- Planned minor capex for Saudi plant startup and expansion of Hosur plant.
- No major capex anticipated for Wire & Cable currently due to low capacity utilization.
- Switchgear business may see capacity expansion capex in the next year.
- No significant capex planned for Smart Meter and EV charging as existing capacity can support growth.
- Strategic investments in emerging businesses: Additional INR13 lakhs invested in Salzer EV Infra Pvt Ltd (total INR93 lakhs).
- Increased investment in Effilume Pvt Ltd, an associate, by INR1.68 crores (total INR4.2 crores; 47% equity stake).
2 more points from Salzer Electronics Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ1 FY27 call
See what Salzer Electronics Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- There is an INR 22 crore worth of finished goods (Smart Meters) available, but dispatch is pending clearance from the customer.
- Pending orders for Smart Meters exist alongside finished goods stock.
- Tamil Nadu Smart Meter tender has been cancelled; new tenders are expected in the coming months or next year.
- Salzer Electronics Limited expects to participate directly in government tenders for Smart Meters once announced.
2 more points from Salzer Electronics Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
Sign up free to see every company in the sector ranking and track Salzer Electronics Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Salzer Electronics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Salzer Electronics 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 + | 295 | 282 | 274 | 262 | 318 | 347 | 336 | 334 | 366 | 432 | 409 | 412 | 462 |
| Expenses + | 272 | 257 | 248 | 233 | 287 | 316 | 303 | 299 | 339 | 391 | 374 | 376 | 432 |
| Operating Profit | 23 | 25 | 25 | 29 | 31 | 31 | 33 | 34 | 26 | 41 | 35 | 36 | 30 |
| OPM % | 8% | 9% | 9% | 11% | 10% | 9% | 10% | 10% | 7% | 10% | 8% | 9% | 6% |
| Other Income + | 0 | 1 | 0 | 1 | 0 | 1 | 16 | 2 | 2 | 1 | 1 | 0 | 0 |
| Interest | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 10 | 11 | 12 | 11 | 12 | 12 |
| Depreciation | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 7 | 6 |
| Profit before tax | 12 | 13 | 13 | 17 | 17 | 17 | 34 | 20 | 12 | 24 | 18 | 17 | 11 |
| Tax % | 24% | 28% | 25% | 26% | 30% | 24% | 22% | 27% | 29% | 27% | 25% | 26% | 12% |
| Net Profit + | 9 | 9 | 9 | 12 | 12 | 13 | 26 | 15 | 8 | 18 | 13 | 13 | 10 |
| EPS in Rs | 5.54 | 5.68 | 5.62 | 7.15 | 6.95 | 7.49 | 14.82 | 8.24 | 4.65 | 9.95 | 7.62 | 7.20 | 5.67 |
Financials of Salzer Electronics 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 + | 283 | 361 | 385 | 443 | 560 | 567 | 606 | 784 | 1,013 | 1,136 | 1,383 | 1,715 |
| Expenses + | 248 | 318 | 340 | 389 | 496 | 502 | 544 | 720 | 922 | 1,025 | 1,256 | 1,574 |
| Operating Profit | 35 | 43 | 45 | 53 | 64 | 65 | 62 | 64 | 91 | 110 | 127 | 141 |
| OPM % | 13% | 12% | 12% | 12% | 11% | 12% | 10% | 8% | 9% | 10% | 9% | 8% |
| Other Income + | 1 | 3 | 5 | 3 | 1 | 1 | 2 | 2 | 1 | 2 | 18 | 2 |
| Interest | 12 | 13 | 15 | 15 | 20 | 21 | 21 | 20 | 26 | 34 | 41 | 47 |
| Depreciation | 7 | 8 | 9 | 11 | 12 | 14 | 16 | 16 | 16 | 19 | 22 | 26 |
| Profit before tax | 17 | 24 | 26 | 31 | 32 | 30 | 27 | 30 | 50 | 59 | 82 | 70 |
| Tax % | 29% | 30% | 34% | 35% | 26% | 13% | 23% | 25% | 28% | 27% | 24% | 24% |
| Net Profit + | 12 | 17 | 17 | 20 | 24 | 26 | 21 | 22 | 36 | 43 | 62 | 54 |
| EPS in Rs | 11.65 | 12.50 | 12.09 | 13.35 | 14.99 | 16.51 | 12.93 | 14.07 | 22.47 | 24.85 | 35.21 | 30.44 |
| Dividend Payout % | 13% | 13% | 13% | 12% | 11% | 0% | 12% | 13% | 10% | 10% | 7% | 8% |
Financials of Salzer Electronics 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 | 10 | 14 | 14 | 15 | 16 | 16 | 16 | 16 | 16 | 17 | 18 | 18 |
| Reserves | 98 | 182 | 218 | 255 | 271 | 293 | 315 | 335 | 387 | 449 | 513 | 561 |
| Borrowings + | 97 | 109 | 126 | 146 | 148 | 178 | 204 | 252 | 277 | 308 | 418 | 532 |
| Other Liabilities + | 70 | 71 | 96 | 121 | 131 | 119 | 139 | 138 | 196 | 196 | 217 | 228 |
| Total Liabilities | 275 | 375 | 454 | 537 | 566 | 607 | 674 | 742 | 876 | 970 | 1,165 | 1,338 |
| Fixed Assets + | 78 | 102 | 139 | 166 | 183 | 207 | 211 | 214 | 231 | 254 | 295 | 323 |
| CWIP | 6 | 8 | 9 | 6 | 6 | 3 | 1 | 1 | 1 | 2 | 3 | 7 |
| Investments | 6 | 18 | 5 | 3 | 4 | 20 | 21 | 21 | 22 | 25 | 26 | 31 |
| Other Assets + | 186 | 248 | 301 | 361 | 373 | 378 | 441 | 506 | 623 | 689 | 841 | 977 |
| Total Assets | 275 | 375 | 454 | 537 | 566 | 607 | 674 | 742 | 876 | 970 | 1,165 | 1,338 |
Financials of Salzer Electronics 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 + | 26 | -15 | 1 | 4 | 52 | 36 | 14 | -14 | 23 | 20 | -17 | 42 |
| Cash from Investing Activity + | -22 | -45 | -20 | -41 | -28 | -50 | -17 | -18 | -32 | -39 | -55 | -62 |
| Cash from Financing Activity + | 0 | 64 | 12 | 26 | -19 | 9 | 4 | 29 | 14 | 15 | 72 | 21 |
| Net Cash Flow | 4 | 5 | -7 | -10 | 4 | -5 | 2 | -2 | 5 | -5 | 0 | 0 |
| Free Cash Flow | 3 | -50 | -28 | -31 | 23 | 1 | -4 | -33 | -9 | -25 | -83 | -17 |
| CFO/OP | 82% | -25% | 15% | 23% | 91% | 63% | 30% | -8% | 38% | 29% | 1% | 42% |
Financials of Salzer Electronics 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 | 100 | 101 | 111 | 97 | 95 | 92 | 108 | 97 | 99 | 107 | 108 | 92 |
| Inventory Days | 123 | 95 | 125 | 161 | 132 | 145 | 145 | 141 | 135 | 132 | 138 | 127 |
| Days Payable | 49 | 47 | 38 | 42 | 50 | 47 | 48 | 47 | 55 | 66 | 62 | 48 |
| Cash Conversion Cycle | 174 | 149 | 198 | 216 | 178 | 190 | 205 | 192 | 180 | 172 | 183 | 171 |
| Working Capital Days | 41 | 58 | 60 | 65 | 51 | 52 | 55 | 52 | 53 | 68 | 63 | 57 |
| ROCE % | 15% | 14% | 12% | 12% | 12% | 11% | 9% | 9% | 12% | 13% | 13% | 11% |
Guidance history
How Salzer Electronics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
5 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −46.6% | 6% |
| Last 6 months | −28.1% | 9% |
| Last 3 months | −17.7% | 22% |
The price is 70.6% below its all-time high of ₹1,595.7 (20 Dec 2024). Stocks more than 20% below their peak have their score halved, so 11 became 5.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Salzer Electronics Ltd: 0.4 × 6 + 0.4 × 9 + 0.2 × 22 = 11, halved to 5 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Salzer Electronics Ltd's management said in earlier quarters
Others in Electrical Equipment this season
- Ram Ratna Wires (Q2 FY27)
Quarter Revenue (Consolidated):** ₹1,96,195.19 lakhs for Q2 FY2027 (30-09-2026) . Key results statement takeaways from Ram Ratna Wires Ltd's Q2 FY27 results sta
- Suzlon Energy Ltd (Q2 FY27)
Q2 FY27 consolidated net deliveries: 710 MW, up from 565 MW in Q2 FY26 (25.7% YoY increase). Key results statement takeaways from Suzlon Energy Ltd's Q2 FY27 ea
- Yash Highvoltage Ltd (Q2 FY27)
Bushings volume saw a 40% growth in H1 FY27 compared to H1 FY26, indicating strong volume momentum. Key concall takeaways from Yash Highvoltage Ltd's Q2 FY27…
- Volt.Transform. (Q2 FY27)
Revenue from operations for the quarter ended 30th September 2026: ₹68,419.19 lakh . Key results statement takeaways from Voltamp Transformers Ltd's Q2 FY27 ear