Companies›Industrials›Capital Goods›Electrical Equipment
NSE:SALZERELEC

SALZER ELECTRONICS LTD

Capital Goods › Electrical Equipment
₹508.50
at close · 8 Oct 2026
▼ 11.50 (-2.21%)
ThemesElectric Vehicles· growingSolar Energy· mention

Latest filings

  1. RTA Certificate under SEBI Regulation 74(5) for Q2 FY26-27 · Compliance
  2. Trading window closed from Oct 1 until 48 hours after Q2 FY26-27 results · Compliance
  3. Salzer Electronics 41st AGM - All 6 resolutions approved by shareholders · Compliance
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures and sells industrial electrical equipment, with industrial switchgear accounting for 56% of FY26 revenue (₹1,758 crore) and growing 20% year-on-year at an 11% segment EBITDA margin, and wires and cables contributing 39% of revenue, growing 30% year-on-year at a 5% segment EBITDA margin. Building products make up the remaining 5%. Beyond these three core lines, the company is building newer businesses: a smart electricity meter vertical (₹45 crore executed in FY26 with a ₹200 crore Bangalore EMS project revenue expected from Q2 FY27), an EV charging subsidiary (~100 chargers sold for ₹9 crore in FY26), and a Saudi Arabia manufacturing facility targeting September–October 2026 commissioning with ₹100 crore GCC revenue planned in its first year. Costs are dominated by raw materials at 77.7% of revenue, primarily plastics, copper and silver, which compressed consolidated EBITDA margin to 8.36% in FY26 from 9.44% in FY25 and prompted February 2026 and planned June 2026 price hikes of 7–10%. Exports contribute about 21% of revenue with a stated target of returning to 25%, while working capital stands at ~30% of revenue against a 25% target.

Revenue mix · reported segments
Industrial switchgear56.0%
Wires and cables39.0%
Building products5.0%
Operating scale
FY26 consolidated revenue
₹1,758.38 croreFY26
FY26 revenue growth (YoY)
23.98%FY26
Industrial switchgear share of revenue
56%FY26
Wires & cables share of revenue
39%FY26
Export share of revenue
~21%FY26
Smart meter executed in FY26
₹45 croreFY26
Who pays it
Industrial customers (for switchgear), distribution and electrical contractors (for wires & cables and building products), utilities and AMISPs (for smart meters), and EV charging buyers including fleet and commercial customers
Biggest cost
Raw materials (plastics, copper, silver) at 77.7% of revenue
Kind of business
Cyclical, commodity-input-exposed industrial electrical equipment manufacturer with emerging smart meter and EV charging adjacencies
Where it sits
Indian-listed manufacturer of industrial switchgear, wires and cables, and building products, with a 56% switchgear share of FY26 revenue and an export presence of ~21%
Market Cap
₹920 Cr
P / E (TTM)
21.0×
EV / EBITDA
10.5×
Div Yield
0.50%
Growth
23.0%▲
Revenue 5y CAGR
PAT +20.3% · EBITDA +17.8%
Quality
18.2%▲
ROCE (5y median)
ROE 9.5% (5y median) · margin 8.4%
Leverage
0.88·
Debt / Equity · moderate
Net debt ₹527 Cr
Revenue FY21→FY26
2.8×▲
Margin −0.4 pts
₹626 Cr → ₹1,758 Cr
Cash conversion
0.28×▼
Operating cash ÷ profit · 5 yrs
₹60 Cr on ₹217 Cr
Moves on a normal day
1.27%·
Median daily move
Last 269 sessions · the yardstick for filing-day moves
Where it sits among 56 Other Electrical Equipment peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#24/52
P/B#10/49
ROCE#32/55
ROE#33/50
Debt / Equity#40/50
EBITDA margin#41/51
Revenue growth#29/46
Profit growth#33/45

Scorecard

Measured from the filed financials, judged against its Other Electrical Equipment peers · as of FY26 — not investment advice

Strengths
Revenue compounding 23% a year over 5 years
Profit compounding 20% a year over 5 years
Profit grew in every one of the last 5 years
Returns on capital 18.2% (5-year median)
#32 of 55 in Other Electrical Equipment on the latest reported figures · up from 13.3% in FY21
Concerns
Carries more debt than its peers — 0.88× equity
higher than 80% of its 50 Other Electrical Equipment peers
Over 5 years it reported ₹217 Cr of profit and ₹60 Cr of operating cash — 0.28×
Less than 60p of every ₹1 of profit arrived as cash
Heavy working capital — 153 days of cash tied up

Charts

How has the market priced it — with filings on the timeline?

SALZERELEC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from SALZER ELECTRONICS LTD's filed financials and exchange disclosures

What does SALZER ELECTRONICS LTD do?

SALZER ELECTRONICS LTD is a Electrical Equipment company listed on NSE and BSE, trading under the symbol SALZERELEC.

Is SALZER ELECTRONICS LTD profitable?

Yes. Over the trailing twelve months SALZER ELECTRONICS LTD reported a net profit of ₹45 Cr on revenue of ₹1,815 Cr.

Does SALZER ELECTRONICS LTD pay a dividend?

Yes. The dividend yield is 0.50% at the current price. It paid out 9% of its profit as dividend in FY26.

Is SALZER ELECTRONICS LTD debt-free?

No. It reported borrowings of ₹531 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹527 Cr after cash. Debt stands at 0.88× equity. That is higher than 80% of its 50 Other Electrical Equipment peers.

Is SALZER ELECTRONICS LTD expensive compared with its peers?

On trailing P/E, SALZER ELECTRONICS LTD ranks 24 of 52 in Other Electrical Equipment — cheaper than 55% of them, against an industry median of 25.4×. This is a position, not a valuation judgement.

How much does the SALZER ELECTRONICS LTD share price move in a day?

On a typical session SALZER ELECTRONICS LTD moves 1.27% — that is the median absolute close-to-close move across its last 269 trading days. MarketPing measures each filing's price reaction against it.

Where can I track SALZER ELECTRONICS LTD's announcements?

Every NSE and BSE filing by SALZER ELECTRONICS LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.