Company Overview

Surana Solar Ltd, incorporated in 2006 and formerly known as Surana Ventures Limited, is a significant player in India's renewable energy sector. The company is part of the Surana Group and is headquartered in Hyderabad, India. Surana Solar Ltd is engaged in the manufacturing of Solar Photovoltaic Modules, generation of Wind and Solar Power energy, and trading of other solar-related products. The company has positioned itself as a comprehensive solutions provider in the solar energy space, catering to both domestic and international markets.

Business Operations and Manufacturing Capabilities

Surana Solar Ltd is a manufacturer of Solar Photovoltaic Modules and also undertakes EPC (Engineering, Procurement, and Construction) of Power Projects on a turnkey basis for MW-scale solar power plants. It offers grid-connected and off-grid Photovoltaic Power plants and provides EPC services for projects ranging from 1 MW to 15 MW. The company's manufacturing infrastructure includes a unit at Cherlapally with an installed capacity of 40 MW and another at Fabcity with a capacity of 20 MW for manufacturing solar photovoltaic modules.

The company's business segments include Solar Products, Trading, and Renewable Energy. Beyond manufacturing, Surana Solar engages in the generation of wind and solar power energy, trading of other solar-related products, and infrastructure leasing activities. It also provides solar lighting products, such as home lighting systems and solar street lighting products, as well as solar lanterns for various applications.

Power Generation Projects

Surana Solar has commissioned four Grid Connected Solar Power Plants in Gujarat and Telangana, each with a capacity of 5 MW. The company is actively expanding its renewable energy footprint with upcoming Power Projects totaling 30 MW slated to be set up in Karnataka, Andhra Pradesh, and Tamil Nadu. Notable commissioned projects include those at Charnaka Solar Park, Gujarat; Munnipally, Medak DT., Telangana; Shankapur, Medak DT., Telangana; and Pedumental, RR Dist., Telangana.

Market Capitalization and Stock Information

- Market Cap: ₹165 Crore (as per latest available data, down -19.5% in 1 year). Current Market Capitalisation as of July 29, 2025, is ₹158.94 Crores.

- Stock Listing: Listed on both NSE and BSE.

- NSE Symbol: SURANASOL

- BSE Code: 533298

- ISIN: INE272L01022

Financial Performance

#### FY25 Financial Results

For the full fiscal year FY2025, the company achieved a net profit of ₹0.06 Crore, marking a recovery from a net loss of ₹1.26 Crore in the previous year. Annual sales rose significantly by 119.09% to ₹38.80 Crore. Surana Solar reported its FY25 consolidated audited results after disinvesting Surana Technologies effective May 22, 2025.

#### Q4 FY25 Performance

In Q4 FY2024-2025, Surana Solar Ltd's net profit saw a decline of -373.33% compared to the same period last year, reporting ₹0.71 Crore. The company posted a standalone net loss of ₹0.71 Crore for the quarter ending March 2025, with sales declining by 35.88% to ₹2.52 Crore.

- Revenue (Q4 FY25): ₹2.52 Crore (as of March 2025)

- Net Profit (Q4 FY25): ₹0.71 Crore (as of March 2025)

Key Financial Metrics

- Revenue (FY25): ₹38.80 Crore

- Profit (FY25): ₹0.06 Crore

- Stock P/E: 2,747

- Book Value: ₹11.4

- ROCE: 0.37 %

- ROE: 0.11 %

- Face Value: ₹5.00

Ownership Structure

- Promoter Holding: 43.2% (as per latest available data). Promoter holding has decreased by -21.9% over the last 3 years.

Financial Health Indicators

The company is almost debt-free, indicating a strong balance sheet position. However, it exhibits a low interest coverage ratio and a low return on equity (ROE) of 0.79% over the last 3 years. The stock is currently trading at 2.96 times its book value.

Recent Corporate Actions

In a strategic move, Surana Solar divested its entire 100% stake in Surana Technologies for INR 4.15 Crore, ceasing control from May 22, 2025. This divestment is part of the company's strategic restructuring efforts.

Stock Performance

Surana Solar Ltd has delivered a return of 12.84% over the last 3 years. The stock has experienced volatility, with the highest price reaching ₹65.38 in the last 52-week period.

Surana Solar continues to operate in the rapidly growing renewable energy sector in India, focusing on solar photovoltaic module manufacturing and power generation projects across multiple states. The company's diverse business model, spanning manufacturing, EPC services, and power generation, positions it to capitalize on India's renewable energy expansion plans.