S&S Power Switchgear Ltd. (IN:S&SPOWER)
:S&SPOWER
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S&S Power Switchgear Ltd.
(S&SPOWER)
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Rating:49Neutral
Price Target:
₹397.00
▲(29.53% 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
Revenue Re-acceleration
A clear re-acceleration in revenue indicates recovering end-market demand and improved order conversion, which supports scale advantages in manufacturing and fixed-cost absorption. Over 2–6 months this trend improves visibility on backlog conversion, capacity utilization and sustainable top-line momentum if order pipelines hold.
Negative Factors
Volatile Cash Generation
Negative and volatile operating and free cash flows threaten liquidity and the durability of reported profits because working-capital and capex demands may exceed internal cash. Over several months this raises funding risk, could force external financing, and constrains reinvestment or margin improvement initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Re-acceleration
A clear re-acceleration in revenue indicates recovering end-market demand and improved order conversion, which supports scale advantages in manufacturing and fixed-cost absorption. Over 2–6 months this trend improves visibility on backlog conversion, capacity utilization and sustainable top-line momentum if order pipelines hold.
Read all positive factors
S&S Power Switchgear Ltd. (S&SPOWER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.11B
Dividend YieldN/A
Average Volume (3M)845.00
Price to Earnings (P/E)47.3
Beta (1Y)0.10
Revenue Growth42.18%
EPS GrowthN/A
CountryIN
Employees2
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.61
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
S&SPOWER primarily makes money by manufacturing and selling HV/EHV switchgear and substation-related equipment. Revenue is earned through: (1) product sales of switchgear and associated components supplied to utilities and industrial clients for n...
S&S Power Switchgear Ltd. Earnings Call Summary
Earnings Call Date:May 22, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call emphasized substantial positive momentum: sustained double-digit top-line growth (22% FY), record net new ARR ($64M in Q4), strengthened profitability (full-year operating profitability, improved margins, positive free cash flow), strong product traction across AI, Data, Cloud, Purple and Wayfinder, large strategic customer wins, and a robust balance sheet. Near-term concerns included quarter linearity and collections timing, a Q1 margin profile below some expectations, macro/geopolitical uncertainty, and execution tradeoffs from limited headcount growth and the CFO transition. On balance, the positives—sizeable growth, margin improvement, product adoption, and cash strength—materially outweigh the near-term operational/seasonality issues.Positive Updates
Reached $1 Billion Revenue Scale with Strong Growth
Fiscal 2026 revenue exceeded $1.0B, growing 22% year over year; Q4 revenue was $271M, up 20% YoY.
Negative Updates
Quarterly Gross Margin Pressure and Linearity
Gross margin ticked down slightly in Q4 (though still strong at 78%); management noted Q4 was back-end loaded and collections were somewhat lumpy, impacting linearity and DSOs.
Read all updates
Q4-2026 Updates
Positive
Negative
Reached $1 Billion Revenue Scale with Strong Growth
Fiscal 2026 revenue exceeded $1.0B, growing 22% year over year; Q4 revenue was $271M, up 20% YoY.
Read all positive updates
Company Guidance
SentinelOne provided an enhanced non‑GAAP guidance framework for FY2027 and Q1: revenue of $1.195–$1.205 billion for FY2027 (≈20% y/y growth at the midpoint) and Q1 revenue of $276–$278 million (≈21% y/y at the midpoint); operating income of $110–$120 million for FY2027 (≈10% margin at the midpoint) and $4–$6 million for Q1 (≈2% margin at the midpoint); fully diluted EPS of $0.32–$0.38 for the year (midpoint $0.35) and $0.01–$0.02 for Q1; an expected non‑GAAP tax rate of ~17%; weighted average diluted share count of ~345 million for Q1 and ~352 million for the full year; adjusted full‑year free‑cash‑flow margin expected to closely track operating margin (Q1 adjusted FCF margins in the low teens), and a noted $40 million scheduled tax settlement payment included in FY2027 assumptions, with the company also forecasting a year‑over‑year improvement in net new ARR and a more balanced ~50/50 seasonality.S&S Power Switchgear Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.14B | 2.64B | 1.85B | 1.59B | 1.40B | 1.10B |
| Gross Profit | 650.90M | 876.91M | 645.00M | 545.42M | 395.79M | 299.12M |
| EBITDA | -6.07M | 129.16M | 32.18M | 118.84M | 3.75M | -93.48M |
| Net Income | -7.47M | 101.12M | -37.92M | 28.86M | 24.47M | -131.09M |
Balance Sheet | ||||||
| Total Assets | 2.30B | 2.73B | 2.22B | 1.38B | 1.14B | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 88.81M | 262.94M | 169.44M | 57.74M | 34.90M | 57.18M |
| Total Debt | 360.97M | 394.46M | 289.39M | 586.74M | 531.26M | 486.39M |
| Total Liabilities | 1.51B | 1.84B | 1.52B | 1.43B | 1.22B | 1.22B |
| Stockholders Equity | 785.46M | 892.36M | 690.31M | -54.12M | -76.94M | -113.24M |
Cash Flow | ||||||
| Free Cash Flow | -145.67M | -99.33M | -206.68M | 39.62M | -123.16M | -35.29M |
| Operating Cash Flow | -145.02M | -16.59M | 116.08M | 58.27M | -113.47M | -30.84M |
| Investing Cash Flow | -36.76M | -117.77M | 408.72M | -20.47M | 100.67M | -6.04M |
| Financing Cash Flow | 51.52M | 86.93M | -413.35M | 15.43M | -6.86M | 41.76M |
S&S Power Switchgear Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹2.76B | 11.01 | ― | 0.86% | 28.74% | 13.94% | |
68 Neutral | ₹96.88B | 32.20 | ― | 1.27% | 11.35% | -6.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ₹21.92B | 25.33 | ― | 0.24% | 6.52% | -2.94% | |
60 Neutral | ₹90.14B | 34.63 | ― | 0.07% | 24.24% | 23.80% | |
53 Neutral | ₹10.97B | 21.19 | ― | 0.36% | 23.98% | -20.50% | |
49 Neutral | ₹5.11B | 47.29 | ― | ― | 42.18% | ― |
* Industrials 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.