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Swing Capital

Salasar Techno Engineering Ltd

NSE: SALASAR BSE: 540642Metal

Incorporated in 2006, Salasar Techno Engineering Ltd manufactures and sells Galvanized Steel Structure, and executes EPC projects.[1]

₹6.98
52W: ₹5.59 — ₹11.5
PE 24.2 · Book ₹4.34 · +61% vs book
Market Cap₹1,220 Cr
Stock P/E24.2Price to Earnings
ROCE12.9%Return on Capital
ROE8.53%Return on Equity
Div. Yield0%Face Value ₹1

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 10.5% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -15.8%

Shareholding Pattern

Promoters47.23%
FIIs4.97%
DIIs0%
Public47.79%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.97%54.95%▼1.053.41%▼1.550.95%▼2.548.91%▼2.048.03%▼0.946.59%▼1.447.23%▲0.6
FIIs8.42%6.49%▼1.95.62%▼0.95.21%▼0.44%▼1.23.55%▼0.54.97%▲1.44.97%
DIIs0%0%0.09%▲0.10%▼0.10%0%0%0%
Public35.6%38.56%▲3.040.88%▲2.343.83%▲2.947.08%▲3.348.41%▲1.348.43%▲0.047.79%▼0.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales275.26303.69356.23291.57276.38373.91470.75293.24417.32310.69
Expenses250.27266.23322.46264.36251.68341.46428.55266.55378.07289.25
Operating Profit24.9937.4633.7727.2124.732.4542.226.6939.2521.44
OPM %9.08%12.33%9.48%9.33%8.94%8.68%8.96%9.1%9.41%6.9%
Net Profit9.216.7515.229.838.9212.6519.318.8717.714.38
EPS ₹0.060.110.10.060.050.070.110.050.10.03

AI Insights

Revenue Trend

TTM revenue at ₹1,492Cr, up 5.6% YoY. OPM at 9%.

Debt Position

Borrowings at ₹350Cr. Debt-to-equity ratio: 0.60x. Moderate leverage.

Capex Cycle

CWIP at ₹5Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 4.97% (-4.07pp change). Promoters hold 47.23%.

Margin & Efficiency

ROCE declining from 17% (Mar 2014) to 13% (Mar 2025). Working capital days: 75.

Valuation

PE 24.2x with 12.9% ROCE. Price is 61% above book value of ₹4.34. Dividend yield: 0%.

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