On 6 Nov 2026, Suraj Products was priced at ₹244.15, or 13.4× trailing earnings, against an industry P/E of 19.9×, and the shares are 34% below their 52-week high. Sales grew 2.2% a year over 3 years while net profit fell 10%, with ROCE of 14% and ROE of 12%. It carries very little debt, and its dividend yield is 0.9%. It is a small-cap company with a market cap of ₹278 Cr, ranked 83rd of 150 Steel companies by market cap; the shares fell 31% over the past year.
- ₹238.05
- ₹252.75
- ₹238.05
- ₹248.95
- 2.4K
Health check
- ReturnsBehind
−30.8% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 13.4 vs industry 19.9.
- GrowthSlow
Sales +2.2%, profit −10.4% a year over 3 years.
- ProfitabilityAverage
ROCE 14.4% vs peer median 18.7%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags1 to check
34% below its 52-week high.
Small cap
High beta
Key metrics
- Market cap
- ₹278 Cr
- Small cap
- P/E
- 13.4
- Industry 19.9
- Price to book
- 1.68
- Peers 2.28
- Dividend yield
- 0.90%
- ROE
- 11.9%
- Peers 23.4%
- ROCE
- 14.4%
- Peers 18.7%
- Debt to equity
- 0.04
- Debt ₹6.69 Cr
- EPS (TTM)
- ₹18.22
- OPM (TTM)
- 10.7%
- Net margin 6.7%
- Sales growth
- +8.7%
- Latest quarter vs a year ago
- Profit growth
- +44.7%
- Latest quarter vs a year ago
- Price to sales
- 0.90
- EV/EBITDA 7.4
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 44.7% on a year ago.
- P/E of 13.4 against an industry P/E of 19.9.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 34% below its 52-week high.
About Suraj Products
Suraj Products Limited engages in the manufacture and sales of sponge iron by direct reduction of iron ore, pig iron, ingots and billet, TMT bars, and generation of power in India. It also provides quality control and support and maintenance services. The company was formerly known as Champion Cement Industries Limited and changed its name to Suraj Products Limited in 2000. Suraj Products Limited was incorporated in 1991 and is based in Rajgangpur, India.
- Headquarters
- Rajgangpur
- Sector
- Basic Materials
- ISIN
- INE069E01019
- Website
- surajproducts.com
Price range
- Avg volume (3M)
- 3.8K
- 1-year return
- minus 30.8%
- From 52-week high
- minus 33.8%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| SURAJSuraj Products | 244.15 | minus 1.93% | 278 | 13.4 | 7.9 | 14.4% | 10.7% | 0.04 | 2.2% | minus 30.8% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 80.7 | 58.7 | 65.5 | 98.9 | 87.7 | |
| 73.4 | 52.8 | 59 | 87.4 | 78.2 | |
| 7.3 | 5.8 | 6.5 | 11.5 | 9.5 | |
| 9.0% | 10.0% | 10.0% | 11.6% | 10.8% | |
| 0.1 | 0.3 | 0.2 | 0.5 | 0.5 | |
| 0.4 | 0.3 | 0.2 | 0.2 | 0.1 | |
| 1.7 | 1.8 | 1.8 | 1.9 | 1.6 | |
| 5.3 | 4.1 | 4.8 | 10 | 8.3 | |
| 13.0% | 21.6% | 16.6% | 30.9% | 19.5% | |
| 4.6 | 3.2 | 4 | 6.9 | 6.6 | |
| 4.03 | 2.81 | 3.54 | 6.04 | 5.83 |
Profit & loss
- Sales CAGR 3Y
- +2.2%
- Profit CAGR 3Y
- −10.4%
- EPS CAGR 3Y
- −10.4%
- ROE
- 11.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 285 | 345 | 326 | 304 | |
| – | +20.9% | minus 5.3% | minus 6.9% | |
| 237 | 294 | 289 | 273 | |
| 48.4 | 50.9 | 37.2 | 31.1 | |
| 17.0% | 14.8% | 11.4% | 10.3% | |
| −0 | 0.6 | 0.4 | 0.6 | |
| 3.7 | 3.3 | 2.2 | 0.9 | |
| 8.9 | 8.9 | 7.8 | 7.1 | |
| – | −0 | 0 | 0.4 | |
| 35.7 | 39.2 | 27.6 | 24.2 | |
| 27.2% | 26.2% | 22.4% | 22.5% | |
| 26 | 28.9 | 21.4 | 18.7 | |
| – | +11.2% | minus 25.9% | minus 12.7% | |
| 22.81 | 25.38 | 18.80 | 16.42 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.4 | 11.4 | 11.4 | 11.4 | |
| 91.7 | 119 | 138 | 155 | |
| 53.7 | 41.2 | 21.1 | 6.7 | |
| 15.1 | 14.3 | 12.4 | 14.2 | |
| 172 | 186 | 183 | 187 | |
| 83.8 | 76.3 | 72 | 66.1 | |
| – | 1.1 | 3.1 | 1.5 | |
| 3.6 | – | 0.3 | 4.5 | |
| 1.5 | 14.5 | 16.5 | 38 | |
| 83.1 | 94 | 91.1 | 76.7 | |
| 172 | 186 | 183 | 187 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32.7 | 31.5 | 29.9 | 39.5 | |
| −19.1 | −1.1 | −4.6 | −28.3 | |
| −13 | −17.6 | −24.4 | −17.8 | |
| 0.6 | 12.8 | 0.9 | −6.6 | |
| −19.1 | −1.4 | −3.6 | −2.7 | |
| 32.7 | 30.1 | 26.3 | 36.8 | |
| −1.3 | −1.7 | −2.3 | −2.4 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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