Suraj Ltd.

BSE: SURAJLTD531638ISIN INE713C01016

Industrials
Iron & Steel Products

Share price

₹201.00+1.00 (+0.50%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹309.50
52W low: ₹178.35
Off 52W high: -35.06%
1M return: +4.66%
3M return: -9.87%
6M return: -20.85%
1Y return: -30.67%
20D avg volume: 373
50 DMA: ₹202.87
200 DMA: ₹229.71

Key ratios Consolidated

Market cap: ₹369.12 Cr
Current price: ₹201.00
52W high / low: ₹309.50 / ₹178.35
Face value: ₹10.00
P/E: 34.37
P/B: 2.55
EPS (TTM): ₹5.85
Book value / share: ₹78.75
ROE: —
ROCE: 10.60%
Operating margin: —
Net margin: —
Debt / equity: 0.44
Net debt: ₹60.18 Cr
Interest cover: 3.40
Dividend yield: 0.75%
Dividend / share (TTM): ₹1.50
Payout: 25.64%
Cash conversion cycle: 146.7 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	55.63	39.03	43.44	61.88	50.19	50.34	58.75	63.61	56.64	54.74	76.17	93.09
	0.60	0.89	2.83	0.64	1.23	1.37	1.66	0.52	1.56	0.49	1.37	0.73
	56.22	39.91	46.27	62.52	51.42	51.72	60.41	64.13	58.20	55.23	77.53	93.83
	52.04	35.13	41.06	60.57	50.23	49.54	65.81	54.46	51.66	49.15	68.88	84.78
	35.77	24.10	41.75	39.67	39.33	24.09	37.36	54.74	44.88	28.96	44.03	61.87
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	5.17	4.44	5.51	4.96	5.36	4.41	5.96	5.29	5.88	5.26	6.54	5.51
	1.24	1.14	1.20	1.13	0.83	1.21	2.02	1.18	0.80	0.73	1.38	0.78
	2.11	1.39	-1.16	2.74	2.88	2.83	2.88	2.77	2.55	2.70	2.58	2.40
	11.45	9.40	12.05	9.98	11.15	7.48	11.04	10.92	10.66	6.90	12.06	10.66
	4.19	4.79	5.21	1.95	1.19	2.18	-5.40	9.67	6.54	6.08	8.66	9.05
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.19	4.79	5.21	1.95	1.19	2.18	-5.40	9.67	6.54	6.08	8.66	9.05
	1.24	1.54	1.41	0.59	0.64	0.63	1.52	2.83	2.01	1.87	2.67	2.65
	3.25	3.59	2.52	1.38	0.83	2.74	-5.92	7.06	6.47	5.70	6.07	6.74
	1.77	1.95	1.37	0.75	0.45	1.49	-3.22	3.84	3.52	3.10	3.31	3.67
Key metrics
	7.54	7.32	5.25	5.82	4.90	6.22	-0.50	13.62	9.89	9.51	12.62	12.23
	13.60%	18.80%	12.10%	9.40%	9.80%	12.40%	-0.90%	21.40%	17.50%	17.40%	16.60%	13.10%
	5.80%	9.20%	5.80%	2.20%	1.70%	5.40%	-10.10%	11.10%	11.40%	10.40%	8.00%	7.20%
	3.60%	—	4.50%	—	1.50%	—	-2.50%	—	—	—	—	—
	10.80%	-22.50%	-26.10%	-2.70%	-11.40%	-8.00%	-22.90%	-31.70%	—	—	—	—
	291.60%	31.00%	142.60%	-80.50%	-87.20%	-51.90%	-197.50%	4.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	199.98	205.85	233.74	330.67
	4.96	6.07	4.23	3.45
	204.92	211.92	237.97	334.12
	188.80	201.40	221.08	304.25
	141.29	144.84	165.94	227.82
	0.00	0.00	0.00	—
	20.08	20.24	22.38	22.30
	4.71	4.38	4.72	3.67
	5.08	7.29	10.90	9.38
	42.88	40.65	39.52	41.11
	16.14	10.53	16.89	29.87
	0.00	0.00	0.00	0.00
	16.14	10.53	16.89	29.87
	4.78	3.27	5.18	8.88
	10.74	7.47	13.30	21.85
	5.84	4.07	7.24	11.90
Key metrics
	25.93	22.20	32.51	42.92
	12.97%	10.80%	13.90%	13.00%
	5.37%	3.60%	5.70%	6.60%
	—	10.60%	16.00%	—
	-10.28%	-11.90%	-29.30%	—
	128.03%	-43.80%	-39.10%	—
	—	7.77	-24.50	—
	—	2.31	-0.68	—
	—	0.44	0.48	—
	—	60.18	63.92	—
	—	146.7	114.0	—
Balance sheet
	—	226.01	222.47	—
	—	114.45	107.09	—
	—	0.12	0.16	—
	—	36.70	32.83	—
	—	62.93	52.33	—
	—	14.65	21.77	—
	—	88.68	88.76	—
	—	16.92	12.14	—
	—	84.73	87.07	—
	—	60.30	64.08	—
	—	60.30	64.08	—
	—	0.00	0.00	—
	—	137.76	133.02	—
Cash flow
	—	17.27	-9.01	—
	—	-6.24	-14.29	—
	—	-11.07	23.15	—
	—	9.50	15.49	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	55.63	39.03	43.44	61.88	50.19	50.34	58.75	63.61	56.64	54.74	76.17	93.09
	0.60	0.89	2.83	0.64	1.23	1.37	1.66	0.52	1.56	0.49	1.37	0.73
	56.22	39.91	46.27	62.52	51.42	51.72	60.41	64.13	58.20	55.23	77.53	93.83
	52.04	35.13	41.06	60.57	50.23	49.54	65.81	54.46	51.66	49.15	68.88	84.78
	35.77	24.10	41.75	39.67	39.33	24.09	37.36	54.74	44.87	28.96	44.03	61.87
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	5.17	4.44	5.51	4.96	5.36	4.41	5.96	5.29	5.88	5.26	6.54	5.51
	1.24	1.14	1.20	1.13	0.83	1.21	2.02	1.18	0.80	0.73	1.38	0.78
	2.11	1.39	1.16	2.74	2.88	2.83	2.88	2.77	2.55	2.70	2.58	2.40
	11.45	9.40	12.05	9.98	11.15	7.48	11.04	10.92	10.66	6.90	12.06	10.66
	4.19	4.79	5.21	1.95	1.19	2.18	-5.40	9.67	6.54	6.08	8.66	9.05
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	4.19	4.79	5.21	1.95	1.19	2.18	-5.40	9.67	6.54	6.08	8.66	9.05
	1.24	1.54	1.41	0.59	0.64	0.63	-1.52	2.83	2.01	1.87	2.67	2.65
	2.95	3.24	3.80	1.36	0.55	1.55	-3.88	6.84	4.54	4.21	5.99	6.40
	1.61	1.77	2.07	0.74	0.30	0.84	-2.11	3.73	2.47	2.29	3.26	3.49
Key metrics
	7.54	7.32	7.57	5.82	4.90	6.22	-0.50	13.62	9.89	9.51	12.62	12.23
	13.60%	18.80%	17.40%	9.40%	9.80%	12.40%	-0.90%	21.40%	17.50%	17.40%	16.60%	13.10%
	5.30%	8.30%	8.70%	2.20%	1.10%	3.10%	-6.60%	10.80%	8.00%	7.70%	7.90%	6.90%
	3.70%	—	4.60%	—	1.50%	—	-2.50%	—	—	—	—	—
	10.80%	-22.50%	-26.10%	-2.70%	-11.40%	-8.00%	-22.90%	-31.70%	—	—	—	—
	436.40%	109.00%	197.90%	-80.10%	-87.90%	-63.20%	-164.80%	6.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	199.98	205.85	233.74	330.67	366.64	343.72
	4.96	6.07	4.23	3.45	5.67	5.04
	204.92	211.92	237.97	334.12	372.30	348.76
	188.80	201.40	221.08	304.25	343.68	344.16
	141.29	144.84	165.94	227.82	261.91	269.08
	0.00	0.00	0.00	—	—	—
	20.08	20.24	22.38	22.30	17.41	13.55
	4.71	4.38	4.72	3.67	4.09	5.61
	7.40	7.29	10.90	9.38	7.93	7.26
	42.88	40.65	39.52	41.11	44.89	37.61
	16.14	10.53	16.89	29.87	28.62	4.61
	0.00	0.00	0.00	—	—	—
	16.14	10.53	16.89	29.87	28.62	4.61
	4.78	3.27	5.18	8.88	8.50	1.60
	11.35	7.26	11.71	20.99	20.12	3.00
	6.19	3.95	6.37	11.43	10.96	1.56
Key metrics
	28.25	22.20	32.51	42.92	40.64	17.48
	14.13%	10.80%	13.90%	13.00%	11.10%	5.10%
	5.68%	3.50%	5.00%	6.30%	5.50%	0.90%
	—	10.80%	16.30%	—	—	—
	-10.28%	-11.90%	-29.30%	-9.80%	6.70%	—
	124.31%	-38.00%	-44.20%	4.30%	570.70%	—
	—	7.77	-24.50	—	—	—
	—	2.38	-0.77	—	—	—
	—	0.45	0.49	—	—	—
	—	60.18	63.92	—	—	—
	—	146.7	114.0	—	—	—
Balance sheet
	—	223.34	220.01	—	—	—
	—	114.45	107.09	—	—	—
	—	0.12	0.16	—	—	—
	—	36.70	32.83	—	—	—
	—	62.93	52.33	—	—	—
	—	14.65	21.77	—	—	—
	—	88.68	88.76	—	—	—
	—	16.92	12.14	—	—	—
	—	84.73	87.07	—	—	—
	—	60.30	64.08	—	—	—
	—	60.30	64.08	—	—	—
	—	0.00	0.00	—	—	—
	—	135.09	130.56	—	—	—
Cash flow
	—	17.27	-9.01	—	—	—
	—	-6.24	-14.29	—	—	—
	—	-11.07	23.15	—	—	—
	—	9.50	15.49	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -17.50%
Sales CAGR 5Y: —
Profit CAGR 3Y: -28.81%
Profit CAGR 5Y: —
Sales YoY (TTM): -10.28%
Profit YoY (TTM): +124.31%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -10.28%
Profit YoY (TTM): +128.03%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 74.98%

Quarter	September 2026	June 2026
Promoter %	74.98%	74.98%

Holder	Type	Holding	Previous	Change
ANILABEN ASHOKKUMAR SHAH	Promoter Group	19.43%	19.43%	0.00%
CHANDRIKA KUNAL SHAH	Promoter Group	15.79%	15.79%	0.00%
REKHA GUNVANT SHAH	Promoter Group	12.76%	12.76%	0.00%
ASHOK SHAH	Promoter	5.87%	5.87%	0.00%
KUNAL TARACHAND SHAH	Promoter	5.61%	5.61%	0.00%
SHAH GUNVANTKUMAR TARACHAND	Promoter	5.40%	5.40%	0.00%
DINESH STAINLESS PRIVATE LIMITED	Public	3.74%	3.74%	0.00%
DISHANT KUNAL SHAH	Promoter Group	3.02%	3.02%	0.00%
PAWAN PARAS JAIN	Public	2.39%	2.39%	0.00%
MUKESH RAGHUNATHMAL CHANDAN	Public	1.69%	1.69%	0.00%
CHIRAG SHAH	Promoter Group	1.59%	1.59%	0.00%
DIXIT SHAH	Promoter Group	1.59%	1.59%	0.00%
KAPIL GUNVANT SHAH	Promoter Group	1.47%	1.47%	0.00%
ABHAY GUNVANTKUMAR SHAH	Promoter Group	1.47%	1.47%	0.00%
NISHA MAHESHKUMAR JAIN	Promoter Group	0.98%	0.98%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	63,062	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	61,038	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	34,361	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,199	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,202	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,798	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,845	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,753	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,906	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Aeroflex Industries Limited	7,504	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Maharashtra Seamless Ltd.	7,450	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Sunflag Iron & Steel Co. Ltd.	7,070	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Shivalik Bimetal Controls Ltd.	6,178	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Technocraft Industries (India) Ltd.	6,166	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,756	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Goodluck India Limited	5,412	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,886	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,681	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,492	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,241	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Venus Pipes & Tubes Limited S	3,813	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kalyani Steels Ltd	3,774	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Kirloskar Industries Ltd	3,479	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,454	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,192	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—
Suraj Ltd.	369	201.00	34.37	10.60%	-10.28% TTM	+128.03% TTM	-30.67%

Filings & corporate actions

Recent announcements

Suraj Limited has informed the Exchange about Copy of Newspaper Publication30 Oct 2026 · Company Update / Newspaper Publication
Appointment of CS Mayank Balvantbhai Rami as a Company Secretary & Compliance Officer and a Key Managerial Personnel of the Company with effect from November 01, 202629 Oct 2026 · Company Update / Appointment of Company Secretary / Compliance Officer
Suraj Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026.29 Oct 2026 · Result / Financial Results
Suraj Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026.29 Oct 2026 · Board Meeting / Outcome of Board Meeting
Suraj Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/10/2026 ,inter alia, to consider and approve SURAJ LIMITED has informed the Exchange ....21 Oct 2026 · Board Meeting / Board Meeting
Suraj Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 20187 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Suraj Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201525 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Suraj Limited has informed the Exchange about the Resignation of CS Rashmi Lakhani from the post of Company Secretary & Compliance Officer and a Key Managerial Personnel of the Company ....9 Sep 2026 · Company Update / General
Copy of News paper publication for Financial results for quarter ended on 30th June, 2026.25 Jul 2026 · Company Update / Newspaper Publication
Quarterly Results for Quarter ended on 30th June, 2026.23 Jul 2026 · Result / Financial Results
Suraj Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 202623 Jul 2026 · Board Meeting / Outcome of Board Meeting
Suraj Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 23/07/2026 ,inter alia, to consider and approve SURAJ LIMITED has informed the Exchange ....15 Jul 2026 · Board Meeting / Board Meeting
Certificate Under Reg 74 (5) of SEBI (DP) Regulations, 2018 for the quarter ended on 30th June, 2026.9 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Suraj Limited has announce closure of Trading Window for the quarter ended on June 30, 2026.26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Disclosure of Voting Results of 33rd Annual General Meeting held on 26th June, 202626 Jun 2026 · AGM/EGM / AGM
Scrutinizer Report and Disclosure of Voting Results of 33rd Annual General Meeting held on 26th June, 202626 Jun 2026 · AGM/EGM / AGM
Suraj Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 26, 202626 Jun 2026 · AGM/EGM / AGM
Newspaper Publication5 Jun 2026 · Company Update / Newspaper Publication
33rd Annual Report For the Financial year 2025-26.4 Jun 2026 · Others / Reg. 34 (1) Annual Report
Notice of 33rd (Thirty Third) Annual General Meeting of SURAJ LIMITED will be held on Friday, June 26, 2026 at 10:30 a.m. IST.4 Jun 2026 · AGM/EGM / AGM
Suraj Limited launching a new business in the field of Copper/Aluminium Recycling.29 May 2026 · Company Update / General
Submitting herewith financial Results with Declaration.15 May 2026 · Result / Financial Results
Compliances- Reg. 24(A)- Annual Secretarial Compliance15 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Copy of News Paper Publications.8 May 2026 · Company Update / Newspaper Publication
Standalone and Consolidated Audited financial results for the quarter and year ended 31st March, 20267 May 2026 · Result / Financial Results
Standalone and Consolidated Audited Financial results for the quarter and year ended 31st March, 20267 May 2026 · Board Meeting / Outcome of Board Meeting
Annual Secretarial Compliance Report For the Financial year Ended on 2025-26.29 Apr 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Suraj Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2026 ,inter alia, to consider and approve To Consider And Approve The Financial ....28 Apr 2026 · Board Meeting / Board Meeting
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company is undertaking a capacity expansion project ....8 Apr 2026 · Company Update / General
Certificate under Reg 74(5) of SEBI (DP) Regulations, 20187 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Suraj Limited has informed the Exchange regarding the Trading Window Closure Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201524 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Suraj Limited has informed the Exchange regarding Appointment of M/S Trivedi Parikh & Shah as internal Auditor of the Company w.e.f. February 11, 2026.11 Feb 2026 · Company Update / Change in Management
Outcome of Board meeting held on February 11, 202611 Feb 2026 · Others / Outcome without intimation
Suraj Limited informed the exchange Regarding Cessation of Mr. Sandip S Gandhi as internal Auditor due to death From the Company w.e.f January 22, 202624 Jan 2026 · Company Update / Cessation
Newspaper publication of Financial Results of Quarter and Nine months Ended on 31St December, 2025.17 Jan 2026 · Company Update / Newspaper Publication
As the Dividend have been declared by board of Directors, the Record date for the Same pursuant to regulation 42 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 ....16 Jan 2026 · Corp. Action / Record Date
Consider and Approved the Standalone and Consolidated un audited Financial Results for Quarter and Nine Months ended on 31st December, 202516 Jan 2026 · Result / Financial Results
Declaration of Interim Dividend for Financial year 2025-26 at the Rate of Rs. 1.5 per Share16 Jan 2026 · Corp. Action / Dividend
1. Considered and approved the Standalone and Consolidated un-audited financial for the quarter and nine-months ended 31st December, 2025 2. Declaration of Dividend16 Jan 2026 · Board Meeting / Outcome of Board Meeting
Certificate Under Reg. 74(5) of SEBI (DP) Regulations, 201812 Jan 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 1.5000	23 Jan 2026	23 Jan 2026	—
Interim Dividend - Rs. - 1.5000	10 Feb 2025	10 Feb 2025	—

Board meetings

29 Oct 2026 Board Meeting - Financial Results
23 Jul 2026 Board Meeting - Financial Results