Company Overview

Salasar Exteriors and Contour Limited is an India-based civil construction company engaged in the business of interior and exterior design and civil works. The Company is involved in planning, researching, coordinating, executing, and managing interior design projects. Its core activities include conceptual development, space planning, site inspections, programming, research, team coordination, construction management, and execution according to planning.

Originally incorporated on 9th March 2018, the company transitioned from a proprietorship firm to a corporate entity in 2018, following a Business Succession Agreement for the proprietorship of Promoter Shree Kishan Joshi. This conversion marked the beginning of its structured growth journey in the construction sector.

Business Segments and Services

The company specializes in large-scale civil constructions for hotel, commercial, and industrial projects, including all structural work, as well as residential projects. It also engages in real estate trading (flats and land) in Mumbai and provides interior and exterior design services for commercial offices, malls, and factories.

Salasar Exteriors & Contour operates on a comprehensive service model, offering end-to-end solutions. They undertake projects on a turnkey basis, managing everything from structural creation to plan implementation, installation, and providing allied interior finishing, furniture, Mechanical, Electrical, and Plumbing (MEP) services. They deliver these end-to-end services for residential buildings, hotels and hospitality sectors, multi-level car parks, corporate office buildings, departmental stores, and buildings for commercial, educational, hospitality, and healthcare purposes.

The company provides interior and exterior works, including piling works, civil works, hard finishes, furniture work, and electrical & plumbing services, as well as fire-fighting works. Located in Mumbai, India, this diversified service portfolio positions Salasar Exteriors & Contour as a comprehensive solution provider for construction and design requirements across multiple sectors.

Operational Presence and Market Focus

Founded in March 2018 by acquiring the proprietorship of Shree Kishan Joshi, Salasar Exteriors primarily offers MEP & finishing works for residential, commercial, and hospitality properties, along with fire-fighting work in the Mumbai region. The company is expanding its operations by venturing into other verticals and focusing on growth potential in suburban areas like Mira Road and Naigaon, actively exploring new business development opportunities.

Its strategic focus on Mumbai and its expanding suburban areas reflects an understanding of the region's increasing infrastructure demands and development potential.

Financial Performance and Market Position

As of recent data, the company's market capitalization is ₹68.0 Crore, showing a decrease of -68.5% in the last year. Its annual revenue stands at ₹4.06 Crore, with a net profit of ₹0.74 Crore. The stock is trading at 5.33 times its book value. Although the company reports consistent profits, it does not currently pay dividends. Promoter holding is 69.4%.

Salasar Exteriors And Contour has an operating revenue of Rs. 1.69 Cr on a trailing 12-month basis. The company shows an outstanding annual revenue growth of 162%, a great pre-tax margin of 21%, and a poor ROE of 0% that needs improvement. It is debt-free and maintains a strong balance sheet, enabling stable earnings growth across business cycles.

Key Financial Metrics

- Market Capitalization: ₹68.0 Crore

- Annual Revenue (TTM): ₹1.69 Crore (Note: ₹4.06 Cr mentioned elsewhere, TTM is generally more current if available)

- Net Profit (TTM): ₹0.74 Crore (Note: Profitability figures can vary based on reporting period. ₹0.74 Cr is stated as current profit.)

- Price-to-Book Ratio: 5.33x

- Promoter Holding: 69.4%

- Revenue Growth (Annual): 162%

- Pre-Tax Margin: 21%

- Return on Equity (ROE): 0% (Needs improvement)

- Debt Status: Debt-free

Stock Performance and Valuation Metrics

As of July 18, 2025, Salasar Exteriors & Contour Ltd (SECL)'s share price on NSE was Rs 6.6.

- Current Market Capitalisation: ₹67.95 Crore

- Stock Symbol: SECL

Key valuation ratios as of July 2025:

- PE Ratio: 94.29

- PB Ratio: 5.33

- 52-Week High: Rs 31.00

- 52-Week Low: Rs 5.45

Management and Corporate Structure

The promoters of Salasar Exteriors & Contour Ltd include Shreekishan Joshi, Mintu Sambhunathkar, Mahesh Atmaram Kasar, Prashant Suresh Sapkal, Ashok Kumar Sewda, Dinesh Kumar Sharma, and Priyanka Rathore. The company's auditors are DGMS & Co/Chandabhoy & Jassoobhoy. Shreekishan Joshi serves as the Chairman, and Priyanka Rathore is the Company Secretary.

Recent Corporate Developments:

- July 5, 2025: Appointment of Mr. Sohil Patel as Additional Non-Independent Director.

Industry Position and Competitive Landscape

Salasar Exteriors & Contour Ltd operates within the broader construction ecosystem. Its identified peers include established infrastructure giants such as Larsen & Toubro Ltd, Rail Vikas Nigam Ltd, NBCC (India) Ltd, IRB Infrastructure Developers Ltd, K E C International Ltd, Kalpataru Projects International Ltd, and Techno Electric & Engineering Company Ltd. This comparison highlights the company's presence, albeit at a significantly smaller scale, alongside major players.

The company faces challenges typical of smaller construction firms, including a low return on equity of 4.48% over the last 3 years and high debtors, with outstanding amounts averaging 1,651 days. These metrics indicate areas requiring operational improvement, particularly in working capital management and return generation efficiency.

Salasar Exteriors & Contour Ltd represents a focused player in the Mumbai construction market with specialized expertise in interior and exterior works. While the company demonstrates growth potential through its diversified service offerings and debt-free status, investors should carefully consider the operational challenges and market volatility reflected in its financial performance and stock price movements.