New Risk • May 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Market cap is less than US$100m (₹4.41b market cap, or US$46.2m). Reported Earnings • May 11
Full year 2026 earnings released: EPS: ₹4.07 (vs ₹7.25 in FY 2025) Full year 2026 results: EPS: ₹4.07 (down from ₹7.25 in FY 2025). Revenue: ₹2.12b (down 9.3% from FY 2025). Net income: ₹74.7m (down 44% from FY 2025). Profit margin: 3.5% (down from 5.7% in FY 2025). The decrease in margin was driven by lower revenue. 공시 • May 07
Suraj Limited, Annual General Meeting, Jun 26, 2026 Suraj Limited, Annual General Meeting, Jun 26, 2026. 공시 • Apr 29
Suraj Limited to Report Q4, 2026 Results on May 07, 2026 Suraj Limited announced that they will report Q4, 2026 results on May 07, 2026 New Risk • Apr 01
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 8.3% 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: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹4.72b market cap, or US$50.5m). Reported Earnings • Jan 17
Third quarter 2026 earnings released: EPS: ₹0.75 (vs ₹3.84 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.75 (down from ₹3.84 in 3Q 2025). Revenue: ₹618.8m (down 2.7% from 3Q 2025). Net income: ₹13.8m (down 81% from 3Q 2025). Profit margin: 2.2% (down from 11% in 3Q 2025). 공시 • Jan 16
Suraj Limited Declares Interim Dividend for the Financial Year 2025-26 Suraj Limited announced at the board meeting held on January 16, 2026, the company declared interim dividend for the financial year 2025-26 at the rate of INR 1.50 per equity share on equity shares having face value of INR 10/- each as on the record date of January 23, 2026. 공시 • Jan 07
Suraj Limited to Report Q3, 2026 Results on Jan 16, 2026 Suraj Limited announced that they will report Q3, 2026 results on Jan 16, 2026 Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹0.45 (vs ₹3.52 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.45 (down from ₹3.52 in 2Q 2025). Revenue: ₹514.2m (down 9.2% from 2Q 2025). Net income: ₹8.31m (down 87% from 2Q 2025). Profit margin: 1.6% (down from 11% in 2Q 2025). 공시 • Oct 27
Suraj Limited to Report Q2, 2026 Results on Nov 10, 2025 Suraj Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Reported Earnings • Jul 25
First quarter 2026 earnings released: EPS: ₹1.49 (vs ₹3.10 in 1Q 2025) First quarter 2026 results: EPS: ₹1.49 (down from ₹3.10 in 1Q 2025). Revenue: ₹503.4m (down 8.0% from 1Q 2025). Net income: ₹27.4m (down 52% from 1Q 2025). Profit margin: 5.5% (down from 10% in 1Q 2025). The decrease in margin was driven by lower revenue. 공시 • Jul 15
Suraj Limited to Report Q1, 2026 Results on Jul 24, 2025 Suraj Limited announced that they will report Q1, 2026 results on Jul 24, 2025 New Risk • May 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹6.86b market cap, or US$80.2m). 공시 • May 26
Suraj Limited, Annual General Meeting, Jul 09, 2025 Suraj Limited, Annual General Meeting, Jul 09, 2025. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹402, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 21x in the Metals and Mining industry in India. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹3.84 (vs ₹3.67 in 3Q 2024) Third quarter 2025 results: EPS: ₹3.84 (up from ₹3.67 in 3Q 2024). Revenue: ₹641.3m (down 31% from 3Q 2024). Net income: ₹70.6m (up 4.7% from 3Q 2024). Profit margin: 11% (up from 7.2% in 3Q 2024). The increase in margin was driven by lower expenses. 공시 • Feb 03
Suraj Limited Declares Interim Dividend for the Financial Year 2024-25 Suraj Limited announced that at the board meeting held on February 03, 2025 declared Interim Dividend for the financial year 2024-25 INR 1.50 per Equity Share (15 %) on the Equity Shares of INR 10/- each (face value). The `Record Date' will be 10 February 2025 for the purpose of payment of said interim Dividend on Equity Shares. The Interim Dividend would be paid to members whose names appear on the Register of Members as on the Record Date i.e. 10 February 2025. New Risk • Jan 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.23b (US$95.1m) 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (₹8.23b market cap, or US$95.1m). 공시 • Jan 24
Suraj Limited to Report Q3, 2025 Results on Feb 03, 2025 Suraj Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Board Change • Jan 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Non-Executive Independent Director Altesh Shah was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jan 21
Suraj Limited Announces Board Resignations Suraj Limited announced that Mr. Anil Kanwal Gidwani and Mr. Rajesh Chimanlal Kharadi vide letters dated January 20, 2025 has tendered resignation as an Independent Directors of the Company, with effect from close of business hours on January 20, 2025, due to certain emerging unavoidable personal situations. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹494, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 26x in the Metals and Mining industry in India. Reported Earnings • Oct 22
Second quarter 2025 earnings released: EPS: ₹3.52 (vs ₹2.30 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.52 (up from ₹2.30 in 2Q 2024). Revenue: ₹582.0m (down 32% from 2Q 2024). Net income: ₹64.7m (up 53% from 2Q 2024). Profit margin: 11% (up from 5.0% in 2Q 2024). The increase in margin was driven by lower expenses. 공시 • Oct 11
Suraj Limited to Report Q2, 2025 Results on Oct 21, 2024 Suraj Limited announced that they will report Q2, 2025 results on Oct 21, 2024 Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to ₹442, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 27x in the Metals and Mining industry in India.