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S&S Power Switchgear Ltd.
(S&SPOWER)
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Rating:49Neutral
Price Target:
₹334.00
▲(1.57% Upside)
Action:Reiterated
Date:06/02/26
The score is held back primarily by weak and volatile cash generation (negative operating cash flow in FY2026 and worsening negative free cash flow) despite a clear FY2026 revenue rebound and return to reported profitability. A high P/E multiple further pressures the score, while technical strength cannot be validated due to missing indicators.
Positive Factors
Strong revenue rebound
A sharp re-acceleration in revenue in FY2026 indicates renewed demand and scaling of core switchgear sales. Durable top-line growth supports better absorption of fixed costs, long-term capacity utilization, and provides a foundation for steady margin recovery and reinvestment over months.
Negative Factors
Weak cash generation
Negative operating cash flow and deteriorating free cash flow undermine the durability of reported profits, forcing reliance on external funding or equity. Over several months, weak cash conversion heightens liquidity risk, constrains capex, and can erode investment in growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue rebound
A sharp re-acceleration in revenue in FY2026 indicates renewed demand and scaling of core switchgear sales. Durable top-line growth supports better absorption of fixed costs, long-term capacity utilization, and provides a foundation for steady margin recovery and reinvestment over months.
Read all positive factors
S&S Power Switchgear Ltd. (S&SPOWER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.94B
Dividend YieldN/A
Average Volume (3M)845.00
Price to Earnings (P/E)38.9
Beta (1Y)0.04
Revenue Growth42.18%
EPS GrowthN/A
CountryIN
Employees2
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)8.19
Shares Outstanding12,341,550
10 Day Avg. Volume788
30 Day Avg. Volume845
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)3.21
Price to Sales (P/S)4.61
P/FCF Ratio60.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
S&S Power Switchgear Ltd. Business Overview & Revenue Model
Company Description
S&S Power Switchgear Limited specializes in the design, manufacturing, and global distribution of circuit breaker products, suitable for both indoor and outdoor applications, serving markets in India and abroad. Their extensive portfolio includes ...
How the Company Makes Money
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S&S Power Switchgear Ltd. Earnings Call Summary
Earnings Call Date:Aug 14, 2026
(Q1-2027)
| Next Earnings Date:Aug 14, 2026
Earnings Call Sentiment Positive
The call emphasized strong top-line growth acceleration, record net new ARR, rapid momentum in AI security and cross-product platform adoption, improved profitability and robust balance sheet and backlog. Challenges discussed were deliberate workforce reductions with a one-time charge, some back-end loaded booking timing and macro/geopolitical deal-timing risks. On balance, the positives (growth, product momentum, margin improvement, cash position, and record RPO) substantially outweigh the limited operational and timing headwinds.Positive Updates
Revenue Growth
Revenue of $277 million in Q1, up 21% year-over-year, with guidance for fiscal 2027 revenue of $1.195B–$1.205B (≈20% YoY growth at midpoint) and Q2 revenue guidance of $289M–$291M (≈20% YoY at midpoint).
Negative Updates
Workforce Reduction and One-Time Charges
Company announced an ~8% workforce reduction. Expected one-time restructuring charge of approximately $25 million in Q2 (to be excluded from non-GAAP), with estimated annualized cost savings of ~$45 million.
Read all updates
Q1-2027 Updates
Positive
Negative
Revenue Growth
Revenue of $277 million in Q1, up 21% year-over-year, with guidance for fiscal 2027 revenue of $1.195B–$1.205B (≈20% YoY growth at midpoint) and Q2 revenue guidance of $289M–$291M (≈20% YoY at midpoint).
Read all positive updates
Company Guidance
SentinelOne guided fiscal 2027 revenue of $1.195–$1.205 billion (≈20% YoY at the midpoint) and Q2 revenue of $289–$291 million (≈20% YoY at midpoint); full‑year operating income of $115–$125 million (≈10% operating margin at midpoint, +650 bps YoY) and Q2 operating income of $23–$25 million (≈8% margin at midpoint); FY‑27 non‑GAAP EPS of $0.32–$0.38 ($0.35 midpoint) and Q2 EPS of $0.06–$0.08; an expected non‑GAAP tax rate of ~17%; weighted average diluted share count of ~347M for Q2 and ~350M for the year; a one‑time Q2 restructuring charge of ≈$25M (excluded from non‑GAAP) yielding ~ $45M of annualized cost savings; and an expectation of positive net new ARR growth for FY‑27 following Q1’s record $44M net new ARR (+55% YoY) with total ARR up 23%, RPO of $1.5B (+30% YoY), $812M cash and investments and no debt, trailing‑12‑month adjusted FCF margin of 6.5% (+440 bps YoY), Q1 operating margin of 4% (+550 bps YoY) and Q1 EPS of $0.04 (+83% YoY).S&S Power Switchgear Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.64B | 1.85B | 1.59B | 1.40B | 1.10B |
| Gross Profit | 876.91M | 645.00M | 545.42M | 395.79M | 299.12M |
| EBITDA | 129.16M | 32.18M | 118.84M | 3.75M | -93.48M |
| Net Income | 101.12M | -37.92M | 28.86M | 24.47M | -131.09M |
Balance Sheet | |||||
| Total Assets | 2.73B | 2.22B | 1.38B | 1.14B | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 262.94M | 169.44M | 57.74M | 34.90M | 57.18M |
| Total Debt | 394.46M | 289.39M | 586.74M | 531.26M | 486.39M |
| Total Liabilities | 1.84B | 1.52B | 1.43B | 1.22B | 1.22B |
| Stockholders Equity | 892.36M | 690.31M | -54.12M | -76.94M | -113.24M |
Cash Flow | |||||
| Free Cash Flow | -99.33M | -206.68M | 39.62M | -123.16M | -35.29M |
| Operating Cash Flow | -16.59M | 116.08M | 58.27M | -113.47M | -30.84M |
| Investing Cash Flow | -117.77M | 408.72M | -20.47M | 100.67M | -6.04M |
| Financing Cash Flow | 86.93M | -413.35M | 15.43M | -6.86M | 41.76M |
S&S Power Switchgear Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹2.32B | 9.32 | ― | 0.82% | 28.74% | 13.94% | |
68 Neutral | ₹100.40B | 31.66 | ― | 1.09% | 17.84% | -2.60% | |
64 Neutral | ₹89.06B | 34.16 | ― | 0.07% | 14.60% | -0.37% | |
60 Neutral | ₹21.38B | 23.49 | ― | 0.24% | 6.52% | -2.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹10.28B | 19.46 | ― | 0.43% | 23.98% | -20.50% | |
49 Neutral | ₹3.94B | 38.88 | ― | ― | 42.18% | ― |
* General Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.