Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹772, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 31x in the Electrical industry in India. Total returns to shareholders of 136% over the past three years. 공시 • May 07
Salzer Electronics Limited to Report Fiscal Year 2026 Results on May 23, 2026 Salzer Electronics Limited announced that they will report fiscal year 2026 results at 12:15 PM, Indian Standard Time on May 23, 2026 New Risk • Mar 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.22b (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (₹9.22b market cap, or US$98.6m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹7.01 (vs ₹8.77 in 3Q 2025) Third quarter 2026 results: EPS: ₹7.01 (down from ₹8.77 in 3Q 2025). Revenue: ₹4.24b (up 24% from 3Q 2025). Net income: ₹123.9m (down 19% from 3Q 2025). Profit margin: 2.9% (down from 4.5% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹646, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 25x in the Electrical industry in India. Total returns to shareholders of 130% over the past three years. 공시 • Jan 28
Salzer Electronics Limited to Report Q3, 2026 Results on Feb 11, 2026 Salzer Electronics Limited announced that they will report Q3, 2026 results on Feb 11, 2026 New Risk • Nov 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Nov 03
Second quarter 2026 earnings released: EPS: ₹7.35 (vs ₹15.43 in 2Q 2025) Second quarter 2026 results: EPS: ₹7.35 (down from ₹15.43 in 2Q 2025). Revenue: ₹4.19b (up 22% from 2Q 2025). Net income: ₹130.0m (down 52% from 2Q 2025). Profit margin: 3.1% (down from 7.8% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.5% Last year net profit margin: 5.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (3.5% net profit margin). 공시 • Oct 22
Salzer Electronics Limited to Report Q2, 2026 Results on Nov 01, 2025 Salzer Electronics Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 01, 2025 New Risk • Oct 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Share price has been volatile over the past 3 months (4.2% average weekly change). Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹918, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 37x in the Electrical industry in India. Total returns to shareholders of 273% over the past three years. Upcoming Dividend • Aug 22
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 29 August 2025. Payment date: 12 October 2025. Payout ratio is a comfortable 8.7% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.3%). In line with average of industry peers (0.4%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹9.74 (vs ₹7.57 in 1Q 2025) First quarter 2026 results: EPS: ₹9.74 (up from ₹7.57 in 1Q 2025). Revenue: ₹4.42b (up 24% from 1Q 2025). Net income: ₹172.8m (up 20% from 1Q 2025). Profit margin: 3.9% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Jul 28
Salzer Electronics Limited to Report Q1, 2026 Results on Aug 08, 2025 Salzer Electronics Limited announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • Jun 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.3% average weekly change). Declared Dividend • May 28
Dividend of ₹2.50 announced Dividend of ₹2.50 is the same as last year. Ex-date: 29th August 2025 Payment date: 12th October 2025 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • May 27
Salzer Electronics Limited announces Annual dividend, payable on October 12, 2025 Salzer Electronics Limited announced Annual dividend of INR 2.5000 per share payable on October 12, 2025, ex-date on August 29, 2025 and record date on August 29, 2025. 공시 • May 26
Salzer Electronics Limited, Annual General Meeting, Sep 12, 2025 Salzer Electronics Limited, Annual General Meeting, Sep 12, 2025. Reported Earnings • May 26
Full year 2025 earnings released: EPS: ₹35.30 (vs ₹27.38 in FY 2024) Full year 2025 results: EPS: ₹35.30 (up from ₹27.38 in FY 2024). Revenue: ₹14.2b (up 22% from FY 2024). Net income: ₹460.3m (flat on FY 2024). Profit margin: 3.2% (down from 3.9% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,055, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 445% over the past three years. 공시 • May 10
Salzer Electronics Limited to Report Fiscal Year 2025 Results on May 24, 2025 Salzer Electronics Limited announced that they will report fiscal year 2025 results on May 24, 2025 Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹974, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 34x in the Electrical industry in India. Total returns to shareholders of 452% over the past three years. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹8.77 (vs ₹7.98 in 3Q 2024) Third quarter 2025 results: EPS: ₹8.77 (up from ₹7.98 in 3Q 2024). Revenue: ₹3.43b (up 27% from 3Q 2024). Net income: ₹152.4m (up 15% from 3Q 2024). Profit margin: 4.4% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹941, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 40x in the Electrical industry in India. Total returns to shareholders of 404% over the past three years. New Risk • Feb 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.5% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risk Large one-off items impacting financial results. 공시 • Jan 29
Salzer Electronics Limited to Report Q3, 2025 Results on Feb 11, 2025 Salzer Electronics Limited announced that they will report Q3, 2025 results on Feb 11, 2025 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹1,206, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 42x in the Electrical industry in India. Total returns to shareholders of 453% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,596, the stock trades at a trailing P/E ratio of 41.9x. Average trailing P/E is 54x in the Electrical industry in India. Total returns to shareholders of 776% over the past three years. Recent Insider Transactions • Dec 14
MD & Director recently bought ₹974k worth of stock On the 11th of December, Rangaswamynaidu Doraiswamy bought around 750 shares on-market at roughly ₹1,299 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Rangaswamynaidu's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹1,189, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 48x in the Electrical industry in India. Total returns to shareholders of 505% over the past three years. New Risk • Nov 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹15.43 (vs ₹5.99 in 2Q 2024) Second quarter 2025 results: EPS: ₹15.43 (up from ₹5.99 in 2Q 2024). Revenue: ₹3.60b (up 28% from 2Q 2024). Net income: ₹268.2m (up 173% from 2Q 2024). Profit margin: 7.5% (up from 3.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Nov 04
Salzer Electronics Limited to Report Q2, 2025 Results on Nov 11, 2024 Salzer Electronics Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,088, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 50x in the Electrical industry in India. Total returns to shareholders of 570% over the past three years. 공시 • Sep 16
Salzer Electronics Limited Appoints V. Shanakaran as A Non-Executive and Independent Director Salzer Electronics Limited at its AGM held on September 14, 2024, approved the appointment of Mr. V. Shanakaran as a non-executive and independent director of the company. New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Upcoming Dividend • Aug 23
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 14 October 2024. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). In line with average of industry peers (0.3%). 공시 • Aug 06
Salzer Electronics Limited Approves Change in Directorate Salzer Electronics Limited approved the resignation of Mr. P.Ramachandran, Whole Time Director and Mrs. Thilagam Rajeshkumar, Non-Executive Non Independent Director from the Board effective August 08, 2024. 공시 • Jul 23
Salzer Electronics Limited to Report Q1, 2025 Results on Aug 06, 2024 Salzer Electronics Limited announced that they will report Q1, 2025 results at 12:15 PM, Indian Standard Time on Aug 06, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹805, the stock trades at a trailing P/E ratio of 33.5x. Average trailing P/E is 43x in the Electrical industry in India. Total returns to shareholders of 414% over the past three years. 공시 • May 31
Salzer Electronics Limited, Annual General Meeting, Sep 14, 2024 Salzer Electronics Limited, Annual General Meeting, Sep 14, 2024. Declared Dividend • May 30
Dividend increased to ₹2.50 Dividend of ₹2.50 is 14% higher than last year. Ex-date: 30th August 2024 Payment date: 14th October 2024 Dividend yield will be 0.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • May 08
Salzer Electronics Limited to Report Fiscal Year 2024 Results on May 28, 2024 Salzer Electronics Limited announced that they will report fiscal year 2024 results on May 28, 2024 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹783, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 33x in the Electrical industry in India. Total returns to shareholders of 556% over the past three years. Recent Insider Transactions • Mar 02
Non-Executive Non-Independent Director recently bought ₹13m worth of stock On the 28th of February, Vishnurangaswamy Doraiswamy bought around 18k shares on-market at roughly ₹726 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹15m more in shares than they have sold in the last 12 months. New Risk • Feb 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Shareholders have been diluted in the past year (8.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹659, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 471% over the past three years. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: ₹7.98 (vs ₹6.45 in 3Q 2023) Third quarter 2024 results: EPS: ₹7.98 (up from ₹6.45 in 3Q 2023). Revenue: ₹2.71b (up 10% from 3Q 2023). Net income: ₹132.0m (up 28% from 3Q 2023). Profit margin: 4.9% (up from 4.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Dec 29
Salzer Electronics Limited to Report Q3, 2024 Results on Feb 08, 2024 Salzer Electronics Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Recent Insider Transactions • Dec 09
Non-Executive Non-Independent Director recently bought ₹1.0m worth of stock On the 5th of December, Vishnurangaswamy Doraiswamy bought around 3k shares on-market at roughly ₹386 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹1.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 26
Non-Executive Non-Independent Director recently bought ₹477k worth of stock On the 20th of November, Vishnurangaswamy Doraiswamy bought around 1k shares on-market at roughly ₹367 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 06
Second quarter 2024 earnings released: EPS: ₹5.99 (vs ₹5.87 in 2Q 2023) Second quarter 2024 results: EPS: ₹5.99 (up from ₹5.87 in 2Q 2023). Revenue: ₹2.81b (up 14% from 2Q 2023). Net income: ₹98.4m (up 4.8% from 2Q 2023). Profit margin: 3.5% (down from 3.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Oct 26
Salzer Electronics Limited to Report Q2, 2024 Results on Nov 04, 2023 Salzer Electronics Limited announced that they will report Q2, 2024 results at 12:15 PM, Indian Standard Time on Nov 04, 2023 공시 • Sep 13
Salzer Electronics Limited Approves Board Appointments Salzer Electronics Limited announced at annual general meeting held on September 9, 2023, the shareholders approved appointment of Mrs. Priya Bhansali and Mr. Sharat Chandra Bhargava as a non-executive and Independent Directors of the company. 공시 • Aug 18
Salzer Electronics Limited Proposes Dividend for the Fy 2022-23 Salzer Electronics Limited proposed dividend of INR 2.2 per share for the Fiscal Year 2022-23 at its AGM held on September 9, 2023. Upcoming Dividend • Aug 18
Upcoming dividend of ₹2.20 per share at 0.6% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 9.1% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.4%). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹389, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 31x in the Electrical industry in India. Total returns to shareholders of 279% over the past three years. 공시 • Aug 09
Salzer Electronics Limited Announces Executive Changes, Effective August 8 , 2023 Salzer Electronics Limited approved resignation of CS Mr. S Baskarasubramanian from the position of Director (Corporate Affairs) and Company Secretary cum compliance officer effective after closing business hours on August 7, 2023. Appointment of CS Mr. K M Murugesan as a Company Secretary and Compliance Officer of the Company effective August 8, 2023. The appointed Directors Mrs. Mrs. Priya Bhansali and Mr. Sharat Chandra Bhargava have individually confirmed that they have not been debarred from holding the office of director by virtue of any SEBI order or any other such authority. Mr. K M Murugesan is a qualified company secretary and has done post-graduation in master of corporate of secretaryship. He has 17 years of experience in the company in secretarial Department. He has in depth knowledge and practical insights in the laws and regulations applicable. Reported Earnings • Aug 08
First quarter 2024 earnings released First quarter 2024 results: EPS: ₹6.10. Revenue: ₹2.89b (up 22% from 1Q 2023). Net income: ₹99.4m (up 23% from 1Q 2023). Profit margin: 3.4% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Aug 01
Salzer Electronics Limited to Report Q1, 2024 Results on Aug 07, 2023 Salzer Electronics Limited announced that they will report Q1, 2024 results on Aug 07, 2023 New Risk • Jun 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.1% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (₹5.77b market cap, or US$70.4m). Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹24.21 (vs ₹14.14 in FY 2022) Full year 2023 results: EPS: ₹24.21 (up from ₹14.14 in FY 2022). Revenue: ₹10.4b (up 29% from FY 2022). Net income: ₹387.1m (up 71% from FY 2022). Profit margin: 3.7% (up from 2.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹273, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 23x in the Electrical industry in India. Total returns to shareholders of 351% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹282, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 352% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹6.45 (vs ₹4.78 in 3Q 2022) Third quarter 2023 results: EPS: ₹6.45 (up from ₹4.78 in 3Q 2022). Revenue: ₹2.46b (up 12% from 3Q 2022). Net income: ₹103.1m (up 23% from 3Q 2022). Profit margin: 4.2% (up from 3.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Feb 03
Salzer Electronics Limited to Report Q3, 2023 Results on Feb 10, 2023 Salzer Electronics Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 21% share price gain to ₹298, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 175% over the past three years. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 9 highly experienced directors. Non-Executive Non-Independent Director Vishnurangaswamy Doraiswamy was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: ₹5.87 (vs ₹4.93 in 2Q 2022) Second quarter 2023 results: EPS: ₹5.87 (up from ₹4.93 in 2Q 2022). Revenue: ₹2.45b (up 23% from 2Q 2022). Net income: ₹93.9m (up 19% from 2Q 2022). Profit margin: 3.8% (down from 3.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Oct 18
Salzer Electronics Limited to Report Q2, 2023 Results on Nov 10, 2022 Salzer Electronics Limited announced that they will report Q2, 2023 results on Nov 10, 2022 Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₹279, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 133% over the past three years. 공시 • Aug 19
Salzer Electronics Limited Proposes Dividend for the Financial Year 2021-22 Salzer Electronics Limited proposed dividend of INR 1.80 per equity share of INR 10 each fully paid-up of the Company be and is hereby declared for the Financial year 2021-22 and the same be paid as recommended by the Board of Directors of the Company, out of the Profit of the Company for the financial year ended March 31, 2022. The Company has a fixed Record Rate as August 26,2022, for the purpose of determining the shareholders getting entitled for dividend, if declared at the 37th AGM. Dividend as recommended by the Board of Directors, if declared at the Annual General Meeting will be paid within 30 days from the date of declaration, to those Members whose names appear on the Register of Members in respect of shares held in physical form as well as in respect of shares held in electronic form as per the details received from the depositories for this purpose as at the close of the business hours on August 26, 2022. Upcoming Dividend • Aug 18
Upcoming dividend of ₹1.80 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 10 October 2022. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.7%). In line with average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 24% share price gain to ₹226, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 99% over the past three years. Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: ₹6.03 (vs ₹2.48 in 1Q 2022) First quarter 2023 results: EPS: ₹6.03 (up from ₹2.48 in 1Q 2022). Revenue: ₹2.39b (up 57% from 1Q 2022). Net income: ₹81.1m (up 105% from 1Q 2022). Profit margin: 3.4% (up from 2.6% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. 공시 • Jul 28
Salzer Electronics Limited to Report Q1, 2023 Results on Aug 08, 2022 Salzer Electronics Limited announced that they will report Q1, 2023 results on Aug 08, 2022 Reported Earnings • May 23
Full year 2022 earnings released: EPS: ₹14.14 (vs ₹12.84 in FY 2021) Full year 2022 results: EPS: ₹14.14 (up from ₹12.84 in FY 2021). Revenue: ₹8.04b (up 28% from FY 2021). Net income: ₹225.9m (up 10% from FY 2021). Profit margin: 2.8% (down from 3.3% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 공시 • May 14
Salzer Electronics Limited to Report Fiscal Year 2022 Results on May 21, 2022 Salzer Electronics Limited announced that they will report fiscal year 2022 results on May 21, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 9 highly experienced directors. Non-Executive Non-Independent Director Vishnurangaswamy Doraiswamy was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₹200, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 19x in the Electrical industry in India. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹150, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 18x in the Electrical industry in India. Total returns to shareholders of 24% over the past three years. Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹4.78 (up from ₹4.08 in 3Q 2021). Revenue: ₹2.19b (up 24% from 3Q 2021). Net income: ₹83.6m (up 32% from 3Q 2021). Profit margin: 3.8% (up from 3.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. 공시 • Jan 30
Salzer Electronics Limited to Report Q3, 2022 Results on Feb 07, 2022 Salzer Electronics Limited announced that they will report Q3, 2022 results on Feb 07, 2022 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹174, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 21x in the Electrical industry in India. Total returns to shareholders of 32% over the past three years. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS ₹4.93 (vs ₹4.40 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹2.01b (up 29% from 2Q 2021). Net income: ₹78.9m (up 14% from 2Q 2021). Profit margin: 3.9% (down from 4.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 19
Upcoming dividend of ₹1.60 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 13 October 2021. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.6%). Recent Insider Transactions • Jul 06
Insider recently bought ₹1.1m worth of stock On the 28th of June, - Samhita bought around 7k shares on-market at roughly ₹159 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹1.8m more in shares than they have sold in the last 12 months. Reported Earnings • Jun 18
Full year 2021 earnings released: EPS ₹12.84 (vs ₹16.97 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: ₹6.28b (up 7.5% from FY 2020). Net income: ₹205.2m (down 24% from FY 2020). Profit margin: 3.3% (down from 4.6% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Apr 04
Insider recently bought ₹701k worth of stock On the 30th of March, - Samhita bought around 6k shares on-market at roughly ₹127 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Mar 10
New 90-day high: ₹144 The company is up 12% from its price of ₹129 on 10 December 2020. The Indian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 18% share price gain to ₹144, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 22x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 27%. 공시 • Jan 29
Salzer Electronics Limited to Report Q3, 2021 Results on Feb 04, 2021 Salzer Electronics Limited announced that they will report Q3, 2021 results on Feb 04, 2021 Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 19% share price gain to ₹126, the stock is trading at a trailing P/E ratio of 9x, up from the previous P/E ratio of 7.5x. This compares to an average P/E of 22x in the Electrical industry in India. Total return to shareholders over the past three years is a loss of 41%. Is New 90 Day High Low • Nov 12
New 90-day high: ₹110 The company is up 12% from its price of ₹98.55 on 14 August 2020. The Indian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 8.0% over the same period. 
