Manufactures and sells Solar PV modules through its Solar Products segment, which accounted for 99.3% of FY26 segment revenue at ₹20.70 crore (EBIT ₹0.19 crore). A small Renewable Energy segment contributed 0.7% at ₹0.14 crore. A Trading business that had contributed ₹28.79 crore in FY25 was discontinued ahead of FY26. Materials are the dominant cost at 103.9% of revenue, followed by other operating expenses at 16.9% and depreciation at 9.6%. FY26 total revenue was ₹20.83 crore with net profit of ₹1.24 crore. In Q1 FY27, revenue jumped to ₹17.15 crore (from ₹2.09 crore a year earlier) and net profit to ₹5.44 crore, with the Solar Products segment swinging from a loss to a ₹61.5 lakh profit. Operations are based at Cherlapally, where the company has 14,671 sq yards of industrial land, and the business sits within the Surana Group. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Solar Products (99%), Renewable Energy (1%). Small-cap solar PV module maker, recently refocused after exiting trading
| ₹ crore · consolidated | FY25 |
|---|---|
| Revenue | 39 |
| EBITDA (ex other income) | 0 |
| margin % | 1.1 |
| Owners' profit | (0) |
| EPS, as reported (₹) | 0.01 |
| ROE % · ROCE % | (0.1) · 0.2 |
| Debt / equity (x) | 0.00 |
| Cash from operations | 2 |
| Capex | (1) |
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 |
|---|---|---|---|
| Revenue | 11 | 3 | 2 |
| Profit before tax | 0 | (1) | 0 |
| Net profit | 0 | (1) | 0 |
| EPS (₹) | 0.03 | 0.17 | 0.03 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| a) Solar Products | 4 | 30.0 |
| b) Trading | 0 | 0.0 |
| c) Renewable Energy | 0 | 1.7 |
| a) Trading | 9 | 68.3 |
| Total, before eliminations | 13 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 30,817 | 18.1 | 2.96 | 14.3 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 9,347 | 20.9 | 4.41 | 19.9 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 5,178 | 22.1 | 5.73 | 15.5 | 24.2 | 31.8 | (13.9) | 86.5 |
| SHANKARA BUILDPRO LIMITED | 3,050 | 23.2 | 5.59 | 13.5 | 23.4 | 31.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Newspaper ad on SEBI special window for physical shares transfer and demat | compliance | minimal | — | — |
| 5 Sept 2026 · Notice of 20th AGM via video conferencing on 28 September 2026 | compliance | minimal | — | — |
| 4 Sept 2026 · Surana Solar 20th AGM notice and Annual Report for FY25-26, plans AI Data Centres entry | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Notice of 20th AGM on 28 Sep 2026, key items include AI data centres entry | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Surana Solar publishes 20th AGM notice for 28 September 2026 | compliance | minimal | — | — |
| 29 Aug 2026 · Book closure Sep 22-28 for 20th AGM; board clears land sale, AI data centre foray | corporate actions | low | — | — |
| 29 Aug 2026 · Surana Solar AGM on Sep 28; considers land sale and AI data centre expansion | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Surana Solar appoints new director, plans land sale, to explore AI data centre business | management changes | medium | — | — |
| 29 Aug 2026 · Board approves AGM notice, land sale proposal, and AI data centre expansion | board shareholder meetings | low | — | — |
| 27 Jul 2026 · Surana Solar Q1 FY27 profit jumps sharply year on year | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| — |
| 3.3 |
| CREATIVE NEWTECH LIMITED | 1,682 | 25.8 | 4.34 | 19.2 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 865 | 0.1 | 9.61 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 810 | 8.9 | 0.63 | 203.9 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 680 | 1.0 | — | 52.5 | — | — | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 110.9 | 14.7 | 151 of 161 | 6% |
| P/B | 2.2 | 1.1 | 99 of 145 | 32% |
| ROCE | (0.1) | 2.0 | 136 of 184 | 26% |
| ROE | (0.1) | 2.3 | 129 of 174 | 26% |
| Debt / Equity | 0.0 | 0.0 | 15 of 175 | 64% |
| EBITDA margin | 26.9 | 4.5 | 22 of 137 | 85% |
| Market cap | 125 | 25 | 33 of 174 | 82% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
