As of 6 Nov 2026, S&S Power Switchgears trades at 45.1× trailing earnings, above the industry P/E of 30.0×, and the shares are 34% below their 52-week high. Sales and net profit grew 24% and 60% a year over 3 years; its ROCE of 7.1% is the lowest among the 7 largest Electrical Equipment & Parts peers. Debt is 0.44× equity. It is a small-cap company with a market cap of ₹365 Cr, ranked 64th of 97 Electrical Equipment & Parts companies by market cap; the shares fell 15% over the past year.
- ₹291.25
- ₹302.00
- ₹291.15
- ₹303.75
- 1.1K
Health check
- ReturnsBehind
−15.2% over a year, better than 2 of 7 peers.
- Price tagPricier
P/E 45.1 vs industry 30.0.
- GrowthStrong
Sales +23.6%, profit +60.5% a year over 3 years.
- ProfitabilityWeak
ROCE 7.1% vs peer median 22.1%.
- Balance sheetFair
Debt 0.44× equity, interest covered 2.2×, Piotroski 6 of 9.
- Red flags4 to check
Quarterly profit down 114.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹365 Cr
- Small cap
- P/E
- 45.1
- Industry 30.0
- Price to book
- 4.09
- Peers 7.24
- Dividend yield
- 0.00%
- ROE
- 12.8%
- Peers 18.0%
- ROCE
- 7.1%
- Peers 22.1%
- Debt to equity
- 0.44
- Debt ₹39 Cr
- EPS (TTM)
- ₹6.55
- Face value ₹10
- OPM (TTM)
- 3.1%
- Net margin 2.9%
- Sales growth
- +20.0%
- Latest quarter vs a year ago
- Profit growth
- −114.6%
- Latest quarter vs a year ago
- Price to sales
- 1.32
- EV/EBITDA 42.6
Strengths and risks
Strengths
- Quarterly sales up 20.0% on a year ago.
Risks to check
- Quarterly profit down 114.6% on a year ago.
- P/E of 45.1 against an industry P/E of 30.0.
- 34% below its 52-week high.
- Interest coverage of only 2.1×.
About S&S Power Switchgears
S&S Power Switchgear Limited, together with its subsidiaries, provides transmission and distribution equipment for the power sector in India and the United Kingdom. The company provides center and double break, pantograph, knee type, and vertical break disconnectors; and spare parts and replacement components including mechanical parts, electrical contacts, insulators, operating mechanisms, and arc suppression systems. It also provides repair,…
- Headquarters
- Maraimalai Nagar
- Employees
- 211
- Sector
- Industrials
- ISIN
- INE902B01017
- Website
- sspower.com
Price range
- Avg volume (3M)
- 4.7K
- 1-year return
- minus 15.2%
- From 52-week high
- minus 33.6%
Peers · Electrical Equipment & Parts
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| POWERINDIAHitachi Energy India | 27,800.00 | minus 1.42% | 1,23,911 | 107.7 | 95.3 | 24.9% | 16.1% | 0.02 | 22.2% | plus 37.9% |
| CGPOWERCG Power and Industrial Solutions | 773.00 | minus 4.43% | 1,21,785 | 88.6 | 72.5 | 19.3% | 13.1% | 0.02 | 21.2% | plus 8.2% |
| POLYCABPolycab India | 7,871.00 | plus 0.28% | 1,18,613 | 37.5 | 29.0 | 30.4% | 13.6% | 0.02 | 26.6% | plus 3.8% |
| HAVELLSHavells India | 1,128.00 | plus 5.61% | 70,789 | 42.6 | 30.0 | 22.1% | 9.1% | 0.02 | 9.9% | minus 28.1% |
| APARINDSApar Industries | 14,106.00 | minus 9.65% | 59,065 | 41.6 | 30.7 | 26.7% | 9.5% | 0.12 | 17.0% | plus 87.2% |
| KEIKEI Industries | 3,988.00 | minus 1.80% | 38,143 | 36.1 | 29.9 | 18.7% | 11.0% | 0.04 | 19.1% | plus 1.8% |
| HONAUTHoneywell Automation India | 30,080.00 | minus 0.79% | 26,613 | 47.0 | 35.7 | 15.7% | 13.8% | 0.02 | 10.9% | minus 17.5% |
| S&SPOWERS&S Power Switchgears | 295.35 | minus 2.77% | 365 | 45.1 | 37.6 | 7.1% | 1.5% | 0.44 | 23.6% | minus 15.2% |
| Median of 7 peers | – | −1.42% | 70,789 | 42.6 | 30.7 | 22.1% | 13.1% | 0.02 | 19.1% | 3.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 59.4 | 60.2 | 79.1 | 65.1 | 71.2 | |
| 56.3 | 63 | 74.4 | 60.1 | 69.4 | |
| 3 | −2.8 | 4.7 | 4.9 | 1.8 | |
| 5.1% | −4.7% | 5.9% | 7.6% | 2.5% | |
| 1.1 | 0.8 | 1.2 | −0 | 0.4 | |
| 0.9 | 0.8 | 0.8 | 2.4 | 0.9 | |
| 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | |
| 2.6 | −3.3 | 4.5 | 1.9 | 0.6 | |
| 32.5% | 188.1% | 21.3% | −2.4% | 140.6% | |
| 1.8 | 2.9 | 3.5 | 1.9 | −0.3 | |
| 1.43 | 2.38 | 2.84 | 1.54 | -0.21 |
Profit & loss
- Sales CAGR 3Y
- +23.6%
- Profit CAGR 3Y
- +60.5%
- EPS CAGR 3Y
- +27.5%
- ROE
- 12.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 140 | 159 | 185 | 264 | |
| – | +14.2% | +16.3% | +42.2% | |
| 137 | 148 | 182 | 253 | |
| 2.5 | 11.5 | 3.2 | 10.2 | |
| 1.8% | 7.2% | 1.7% | 3.9% | |
| 0.4 | 0.2 | 0.8 | 0.4 | |
| 3.7 | 5.3 | 5 | 4.8 | |
| 2 | 2.4 | 2.9 | 2.4 | |
| 5.2 | 0.2 | −0.7 | 2.2 | |
| 2.4 | 4.2 | −4.7 | 5.6 | |
| 11.5% | −2.9% | 19.2% | −80.3% | |
| 2.4 | 2.9 | −3.8 | 10.1 | |
| – | +17.9% | minus 231.4% | – | |
| 3.95 | 4.65 | -3.07 | 8.19 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.2 | 6.2 | 12.3 | 12.3 | |
| −13.9 | −11.6 | 56.7 | 76.9 | |
| 52.2 | 58.7 | 28.9 | 39.4 | |
| 69.4 | 85 | 122 | 145 | |
| 114 | 138 | 220 | 273 | |
| 15.3 | 14.2 | 18.9 | 21.2 | |
| 1.4 | 0.7 | 0.2 | 0.2 | |
| 0.2 | 0.9 | 5.8 | 5.2 | |
| 3.5 | 5.8 | 16.9 | 19.4 | |
| 93.5 | 117 | 178 | 227 | |
| 114 | 138 | 220 | 273 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −11.3 | 5.8 | 11.6 | −1.7 | |
| 10.1 | −2 | 40.9 | −11.8 | |
| −0.7 | 1.5 | −41.3 | 8.7 | |
| −2 | 5.3 | 11.1 | −4.7 | |
| −1 | −1.9 | −32.3 | −8.3 | |
| −12.3 | 4 | −20.7 | −9.9 |
Shareholding pattern
- Promoters74.97%
- Public25.03%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.97% | 25.03% | 0.00 | |
| 30 Jun 2026 | 74.97% | 25.03% | 0.00 | |
| 31 Mar 2026 | 74.97% | 25.03% | 0.00 | |
| 31 Dec 2025 | 74.97% | 25.03% | 0.00 | |
| 30 Sep 2025 | 74.97% | 25.03% | – |
Major shareholders
Filings & events
News
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