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Swing Capital

Salzer Electronics Ltd

NSE: SALZERELEC BSE: 517059Energy

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]

₹688
52W: ₹489 — ₹1127
PE 23.4 · Book ₹315 · +118% vs book
Market Cap₹1,217 Cr
Stock P/E23.4Price to Earnings
ROCE12.8%Return on Capital
ROE10.6%Return on Equity
Div. Yield0.37%Face Value ₹10

Weaknesses

  • −Company has a low return on equity of 10.0% over last 3 years.

Shareholding Pattern

Promoters37.47%
FIIs4.45%
DIIs0.01%
Public58.06%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters37.53%37.53%37.54%▲0.037.54%37.54%37.47%▼0.137.47%37.47%
FIIs2.81%2.65%▼0.23.97%▲1.32.58%▼1.42.35%▼0.22.39%▲0.02.56%▲0.24.45%▲1.9
DIIs0.11%0.11%0.39%▲0.30.1%▼0.30.01%▼0.10.02%▲0.00.02%0.01%▼0.0
Public59.56%59.71%▲0.158.1%▼1.659.78%▲1.760.1%▲0.360.13%▲0.059.95%▼0.258.06%▼1.9

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales274262318347336334366432409412
Expenses248233287316303299339391374376
Operating Profit25293131333426413536
OPM %9%11%10%9%10%10%7%10%8%9%
Net Profit912121326158181313
EPS ₹5.627.156.957.4914.828.244.659.957.627.2

AI Insights

Revenue Trend

TTM revenue at ₹1,619Cr, up 17.1% YoY. OPM at 9%.

Debt Position

Borrowings at ₹477Cr. Debt-to-equity ratio: 0.88x. Moderate leverage.

Capex Cycle

CWIP at ₹6Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.01% (-0.17pp change). FIIs: 4.45% (-1.33pp change). Promoters hold 37.47%.

Margin & Efficiency

ROCE declining from 14% (Mar 2014) to 13% (Mar 2025). Working capital days: 63.

Valuation

PE 23.4x with 12.8% ROCE. Price is 118% above book value of ₹315. Dividend yield: 0.37%.

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