Surana Solar share price, P/E, ROE & financials

Surana Solar (SURANASOL) had a P/E of 17.0× on 6 Nov 2026, above the industry P/E of 15.5×, and the shares are 30% below their 52-week high. It earns ROCE of 2.9% and ROE of 11%, and sales and net profit fell 21% and 18% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. It is a small-cap company with a market cap of ₹112 Cr, ranked 24th of 27 Solar companies by market cap; the shares fell 27% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹22.72
Day high: ₹23.22
Day low: ₹22.30
Prev. close: ₹22.72
Volume: 39.6K

Health check

1 fair · 3 to check

ReturnsIn line
−27.1% over a year, better than 3 of 7 peers.
Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
GrowthShrinking
Sales −20.9%, profit −18.4% a year over 3 years.
ProfitabilityWeak
ROCE 2.9% vs peer median 27.4%.
Balance sheetn/a
Balance sheet figures aren’t reported.
Red flags2 to check
Net profit is above operating profit, so a one-off gain is likely flattering earnings.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Solar

26 listed peers. Screen the industry

Small cap

₹112 Cr, #24 of 27 in its industry by size.

Moves with the market

Beta 0.95 vs the NIFTY 50: tracks the market closely.

Key metrics

Last 12 months to Sep 2026: sales ₹44 Cr · profit ₹7 Cr

Market cap: ₹112 Cr; Small cap
P/E: 17.0; Industry 15.5
Price to book: 1.80; Peers 4.38
Dividend yield: 0.00%
ROE: 11.0%; Peers 29.9%
ROCE: 2.9%; Peers 27.4%
Debt to equity: n/a; Debt ₹0.00 Cr
EPS (TTM): ₹1.34; Face value ₹5
OPM (TTM): 6.4%; Net margin 15.2%
Sales growth: +296.9%; Latest quarter vs a year ago
Profit growth: +36.4%; Latest quarter vs a year ago
Price to sales: 2.58; EV/EBITDA 38.1

Strengths

Quarterly profit up 36.4% on a year ago.
Quarterly sales up 296.9% on a year ago.
Positive operating cash flow in each of the last 4 years.

Risks to check

Net profit is above operating profit, so a one-off gain is likely flattering earnings.
Interest coverage of only −33.5×.

Derived automatically from reported figures. Not a recommendation.

About Surana Solar

Surana Solar Limited manufactures and sells solar panels and solar photovoltaic (PV) modules under the Surana Solar brand in India and internationally. It operates through Renewable Energy and Solar Products segments. The company engages in generation of wind and solar power energy; trading of other solar related products; and infrastructure leasing activities. It also provides engineering, procurement, and construction services for power projects; solar…

Headquarters: Hyderabad
Employees: 68
Sector: Technology
ISIN: INE272L01022
Website: suranasolar.com

Price range

52 weeks

₹18.31₹32.50

Today

₹22.30₹23.22

Avg volume (3M): 40.2K
1-year return: minus 27.1%
From 52-week high: minus 29.7%

Peers · Solar

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
WAAREEENERWaaree Energies	2,438.00	minus 0.46%	70,129	19.0	12.0	30.1%	19.9%	0.31	57.8%	minus 27.3%
PREMIERENEPremier Energies	890.00	plus 0.85%	40,316	22.5	17.4	27.4%	29.9%	0.86	76.2%	minus 15.3%
EMMVEEEmmvee Photovoltaic Power	251.31	minus 0.28%	17,399	12.1	9.7	34.5%	34.7%	0.25	102.7%	plus 14.5%
KARAMTARAKaramtara Engineering	375.70	minus 0.96%	12,091	52.8	27.7	18.1%	9.0%	0.91	40.4%	plus 6.7%
UTLSOLARFujiyama Power Systems	351.80	minus 9.21%	10,811	35.7	22.5	28.9%	18.8%	0.41	58.7%	plus 68.8%
BORORENEWBOROSIL RENEWABLES	403.20	minus 2.55%	5,934	13.4	12.1	9.5%	30.1%	0.07	20.2%	minus 37.6%
VIKRAMSOLRVikram Solar	142.39	plus 1.95%	5,160	14.1	6.0	20.5%	15.4%	0.20	32.3%	minus 56.6%
SURANASOLSurana Solar	22.84	plus 0.53%	112	17.0	–	–	6.4%	–	–	minus 27.1%
Median of 7 peers	–	−0.46%	12,091	19.0	12.1	27.4%	19.9%	0.31	57.8%	−15.3%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Dec 25	Mar 26	Jun 26	Sep 26
2.1	2.6	13.6	17.2	10.2
3.7	1.8	13.2	16.6	9.2
−1.6	0.8	0.4	0.6	1
−79.0%	29.8%	3.0%	3.3%	10.1%
2.4	0.2	0.2	6.4	0.5
0	0.1	−0.1	0	0
0.3	0.6	0.6	0.6	0.5
0.4	0.3	0.2	6.4	1
23.4%	24.2%	−13.1%	14.6%	27.1%
0.3	0.2	0.2	5.4	0.8
0.06	0.04	–	1.11	0.15

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: −20.9%
Profit CAGR 3Y: −18.4%
EPS CAGR 3Y: −18.4%
ROE: 11.0%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
42.2	17.7	38.8	20.8
–	minus 58.0%	+119.1%	minus 46.3%
40.6	17.8	38.2	23.7
1.6	−0.1	0.6	−2.8
3.7%	−0.8%	1.6%	−13.5%
0.8	3.4	0.8	4.5
0.1	0.1	0	0.1
2.6	1.8	1.5	2
3.6	−2.3	0.1	2
3.3	−0.9	0	1.6
31.0%	−39.4%	−37.3%	20.5%
2.3	−1.3	0.1	1.2
–	minus 155.1%	–	+2019.1%
0.46	-0.26	0.01	0.25

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
24.6	24.6	24.6	24.6
32.8	31.6	31.6	32.9
2	2.7	3.6	9.9
59.4	58.9	59.8	67.4
19.7	13.9	11.6	24.5
–	–	1.2	–
0.2	0.2	0.2	–
5.7	8.3	5.8	5.8
33.9	36.5	40.9	37.1
59.4	58.9	59.8	67.4

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
–	10	0.1	1.5	5.3
–	0.3	−0	4.7	−8
–	−10.1	0.1	−5.7	2.7
–	0.1	0.2	0.5	0.1
−0.3	−0.2	–	−1.2	−15.8
–	9.8	0.1	0.3	−10.5
−0.1	−0.1	–	–	–

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company.

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you