MarketFriction

Salzer Electronics Ltd

NSE SALZERELEC · BSE 517059 · Other Electrical Equipment
₹530.90 -1.03%
NSE close2026-10-01
52 week range488.80 - 952.50
Market cap₹946 Cr.
P/E21.4
Price band 20% Delivery 51.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales273.68262.46317.57347.13336.40333.82365.59432.41408.74411.95462.09485.96
Expenses248.41233.05286.65315.87303.24299.48339.41391.09374.07376.14432.45456.44
Operating Profit25.2729.4130.9231.2633.1634.3426.1841.3234.6735.8129.6429.52
OPM %9.23%11.21%9.74%9.01%9.86%10.29%7.16%9.56%8.48%8.69%6.41%6.07%
Other Income0.400.530.411.0715.841.931.770.581.250.240.330.25
Interest8.218.618.969.6410.0710.4910.6012.0211.1511.9512.2811.96
Depreciation4.904.615.155.335.385.885.705.886.866.916.366.59
Profit before tax12.5616.7217.2217.3633.5519.9011.6524.0017.9117.1911.3311.22
Tax %25.40%25.66%29.79%23.68%21.85%26.78%29.36%26.67%24.79%25.83%11.56%24.51%
Net Profit9.3812.4312.0813.2526.2014.578.2317.6013.4712.7410.028.47
EPS in Rs5.627.156.957.4914.828.244.659.957.627.205.674.79
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3613854435605676067841,0131,1361,3831,7151,769
Expenses3183403894965025447209221,0251,2561,5741,639
Operating Profit4345536465626491110127141130
OPM %12%12%12%11%12%10%8%9%10%9%8%7%
Other Income3531122121822
Interest131515202121202634414747
Depreciation8911121416161619222627
Profit before tax242631323027305059827058
Tax %30%34%35%26%13%23%25%28%27%24%24%
Net Profit171720242621223643625445
EPS in Rs12.5012.0913.3514.9916.5112.9314.0722.4724.8535.2130.4425.28
Dividend Payout %13%13%12%11%0%12%13%10%10%7%8%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%23%19%20%
Compounded Profit Growth12%21%14%-34%
Stock Price CAGR10%27%13%-29%
Return on Equity9%9%10%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital101414151616161616171818
Reserves98182218255271293315335387449513561
Borrowings97109126146148178204252277308458532
Other Liabilities707196121131119139138196196177228
Total Liabilities2753754545375666076747428769701,1651,338
Fixed Assets78102139166183207211214231254295323
CWIP689663111237
Investments61853420212122252631
Other Assets186248301361373378441506623689841977
Total Assets2753754545375666076747428769701,1651,338
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity26-1514523614-142320-2142
Cash from Investing Activity-22-45-20-41-28-50-17-18-32-39-51-62
Cash from Financing Activity0641226-19942914157221
Net Cash Flow45-7-104-52-25-500
Free Cash Flow3-50-28-31231-4-33-9-25-87-17
CFO/OP82%-25%15%23%91%63%30%-8%38%29%-2%42%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days100101111979592108979910710892
Inventory Days12395125161132145145141135132138136
Days Payable494738425047484755664751
Cash Conversion Cycle174149198216178190205192180172198177
Working Capital Days415860655152555253686455
ROCE %15%14%12%12%12%11%9%9%12%13%13%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters35.13%37.21%37.32%37.53%37.53%37.54%37.54%37.54%37.47%37.47%37.47%37.47%
FIIs6.06%3.70%3.20%2.81%2.65%3.97%2.58%2.35%2.39%2.56%4.45%4.51%
DIIs0.14%0.14%0.12%0.11%0.11%0.39%0.10%0.01%0.02%0.02%0.01%0.10%
Public58.69%58.95%59.37%59.56%59.71%58.10%59.78%60.10%60.13%59.95%58.06%57.90%
No. of Shareholders25,13428,29135,03542,50142,57845,67349,63051,08151,66951,70948,81748,818

Fundamentals

Market Cap₹ 946 Cr.
Current Price₹ 536
Stock P/E21.4
Book Value₹ 327
ROCE11.2 %
ROE9.55 %
Dividend Yield0.47 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)-34%
Standalone figures.
Valuation
Market capRs 939 Cr
Enterprise valueRs 1,464 Cr
P/E (TTM)21.00x
Price to book1.62x
Price to sales0.53x
EV / EBITDA11.11x
EV / EBIT13.94x
EV / sales0.83x
Price to cash flow22.39x
Earnings yield4.76%
Dividend yield0.47%
P/E, 3-year average26.83x
P/B, 3-year average2.74x
P/E, 5-year average20.98x
P/B, 5-year average2.02x
Profitability
Operating margin (excl. other income)8.25%
Operating margin (incl. other income)8.39%
EBITDA margin7.45%
Pre-tax margin3.26%
Net profit margin2.53%
Net margin, latest quarter1.74%
ROE9.70%
ROCE11.23%
ROA4.30%
ROE, 3-year average10.71%
ROCE, 3-year average12.67%
ROA, 3-year average4.94%
ROE, 5-year average9.67%
ROCE, 5-year average11.74%
ROA, 5-year average4.50%
ROIC (approx.)7.27%
Tax rate23.57%
Other income / net worth0.41%
Growth
Sales growth (latest year)24.03%
Profit growth (latest year)-13.54%
Sales CAGR, 3 years19.18%
Sales CAGR, 5 years23.15%
Profit CAGR, 3 years13.97%
Profit CAGR, 5 years21.10%
Sales growth QoQ5.17%
Profit growth QoQ-15.47%
Sales growth YoY (latest quarter)12.38%
Profit growth YoY (latest quarter)-51.88%
Per share
EPS (TTM)Rs 25.28
EPS (latest year)Rs 30.44
EPS (latest quarter)Rs 4.79
EPS, 3-year averageRs 30.17
EPS, 5-year averageRs 25.41
Book value per shareRs 327.48
Sales per shareRs 1,000.26
Cash flow per shareRs 23.71
Free cash flow per shareRs -9.61
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 2.50
Dividend per share, 5-year averageRs 2.30
Dividends
Dividend payout8.21%
Dividend payout, 3-year average8.45%
Dividend payout, 5-year average9.59%
Efficiency
Asset turnover1.28x
Fixed asset turnover5.32x
Inventory turnover3.12x
Inventory days117 days
Debtor days92 days
Debtors turnover3.98x
Creditor days51 days
Cash conversion cycle177 days
Working capital days55 days
Leverage
Total debtRs 532 Cr
Cash and bankRs 7 Cr
Net debtRs 525 Cr
Debt to equity0.92x
Net debt / EBITDA3.98x
Interest coverage2.22x
Current ratio (filing 2026-03-31)1.39x
Quick ratio (filing 2026-03-31)0.73x
Trade payables (filing 2026-03-31)Rs 174 Cr
Owners' fund to total sources43.27%
Debt to assets39.73%
Cash flow
Cash from Operating Activity (latest year)Rs 42 Cr
Cash from Investing Activity (latest year)Rs -62 Cr
Cash from Financing Activity (latest year)Rs 21 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -17 Cr
FCFE (approx.: FCF + change in debt)Rs 57 Cr
Cash from ops / profit, 5 years0.23x
Sales to cash flow40.92x
Statement figures
Net sales (TTM)Rs 1,769 Cr
Net sales (latest year)Rs 1,715 Cr
Sales (latest quarter)Rs 486 Cr
Operating profit excl. other income (latest year)Rs 141 Cr
Operating profit (latest quarter)Rs 30 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 132 Cr
PBDT (TTM)Rs 84 Cr
Profit before tax (TTM)Rs 58 Cr
Tax (latest year)Rs 17 Cr
Net profit (TTM)Rs 45 Cr
Net profit (latest year)Rs 54 Cr
Net profit (latest quarter)Rs 8 Cr
Depreciation (TTM)Rs 27 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 47 Cr
Cost of goods sold (latest year)Rs 1,441 Cr
Total expenditure (latest year)Rs 1,574 Cr
Total income (latest year)Rs 1,718 Cr
Share capitalRs 18 Cr
ReservesRs 561 Cr
Shareholders' fundsRs 579 Cr
Total assetsRs 1,338 Cr
Net blockRs 323 Cr
Capital work in progressRs 7 Cr
InvestmentsRs 31 Cr
ReceivablesRs 431 Cr
InventoryRs 462 Cr
Other liabilitiesRs 228 Cr
Shares outstanding (crore)1.77
Ownership
Promoter holding37.47% (-0.07 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 21.0 is at the 68th percentile of its own 9.4-year range (median 18.6, low 4.4, high 56.2).
P/B 1.62 is at the 62th percentile (median 1.30).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodSALZERELECNifty 50Difference
1 week-1.4%-2.8% +1.3 pts
1 month-1.5%-6.8% +5.3 pts
3 months-16.2%-7.6% -8.6 pts
6 months+8.1%+0.4% +7.7 pts
1 year-31.8%-9.9% -21.9 pts
2 years-43.0%-13.6% -29.4 pts
3 years+43.4%+14.2% +29.2 pts
5 years+221.6%+27.9% +193.7 pts
1 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Taurus Infrastructure Fund0.00%0 -100%

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was 26% of net profit over the last 3 years
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹486 Cr +12.4% vs Jun 2025. Net profit ₹8 Cr -51.9%.
Against our estimate for Jun 2026: sales -10.0%, profit -50.9% miss. Our estimate for Sep 2026: sales Rs 488 Cr, profit Rs 13 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-28Dividend - Rs 2.50 Per Share
2025-08-29Dividend - Rs 2.50 Per Share
2024-08-30Annual General Meeting / Dividend - Rs 2.50 Per Sh
2023-08-25Annual General Meeting/Dividend - Rs 2.20 Per Share
2022-08-25Annual General Meeting/Dividend - Rs 1.80 Per Share
2021-08-26 Dividend - Rs 1.60 Per Share
2020-09-09 Annual General Meeting
2019-08-07 Annual General Meeting/Dividend - Rs 1.6 Per Share
2018-09-12 Dividend Rs 1.60 Per Share
2017-08-31 Annual General Meeting/Dividend - Rs 1.60/- Per Share
2016-06-09 Annual General Meeting/Dividend Rs 1.60/- Per Share
DateTypeWhat it says
2026-09-12Shareholder meetingVoting results.
2026-09-12Shareholder meetingProceedings of Annual General Meeting held on September 12, 2026
2026-08-20Shareholder meetingNotice of Annual General Meeting to be held on September 12, 2026
2026-08-13Concall / analyst meetTranscript
2026-08-10Concall / analyst meetLink of Recording
2026-08-09Investor PresentationInvestor Presentation
2026-08-09Press ReleaseA press release dated August 09, 2026, titled "Filing of Media Release on the results of Q1FY27".
2026-08-08Change in ManagementChange in Management
2026-08-08Board meeting outcomeSalzer Electronics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026
2026-08-05Credit RatingCredit Rating
2026-08-04Concall / analyst meetSchedule of meet
2026-06-18Shareholder meetingNotice of Postal Ballot
2026-06-16Shareholder meetingNotice of Postal Ballot
2026-05-30Concall / analyst meetTranscript
2026-05-27Concall / analyst meetLink of Recording
2026-05-26Concall / analyst meetLink of Recording
2026-05-25Investor PresentationInvestor Presentation
2026-05-24Press ReleaseA press release dated May 23, 2026, titled "Announcement of Media Release on the results of Q4&FY26".
2026-05-23Shareholder meetingNotice of Annual General Meeting to be held on September 12, 2026
2026-05-23Change in ManagementChange in Management - Re-appointment of Cost Auditor for the year 2026-2027
2026-05-23Change in ManagementChange in Management - Re-appointment of Independent directors
2026-05-23Record DateRecord date for the purpose of Dividend is 28-Aug-2026.
2026-05-23DividendBoard of Directors at its meeting held on May 23, 2026, recommended Final Dividend of Rs. 2.50 per equity share.
2026-05-23DividendBoard of Directors at its meeting held on May 23, 2026, recommended Final Dividend of Rs. 2.50 per equity share.
2026-05-23Board meeting outcomeSalzer Electronics Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Salzer Electronics Ltd?

Salzer Electronics Ltd (SALZERELEC) has a market capitalisation of Rs 946 Cr. at the 2026-10-01 close.

What is the P/E ratio of Salzer Electronics Ltd?

Salzer Electronics Ltd trades at a P/E of 21.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Salzer Electronics Ltd's latest quarterly results?

In the Jun 2026 quarter, Salzer Electronics Ltd sales was Rs 486 Cr (+12.4% vs Jun 2025) and net profit was Rs 8 Cr.

What is the 52-week high and low of Salzer Electronics Ltd?

The 52-week high is Rs 952.50 and the 52-week low is Rs 488.80.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03