S&S Power Switchgear Ltd. (IN:S&SPOWER)
:S&SPOWER
Top Page
S&S Power Switchgear Ltd.
(S&SPOWER)
Select Model
Select Model
Rating:45Neutral
Price Target:
₹314.00
▲(2.45% Upside)
Action:UpgradedDate:03/12/26
The score is primarily constrained by weak profitability and cash flow despite solid revenue growth, with valuation also pressured by a negative P/E. Technicals cannot be evaluated due to missing indicators, and no earnings call or corporate event details were provided to add context.
Positive Factors
Revenue Growth
Consistent double-digit revenue growth (+16.24%) signals expanding customer adoption in the capital-intensive T&D sector. Sustained top-line gains over 2-6 months can improve scale economics, help absorb fixed costs, and provide runway to invest in efficiency and backlog execution.
Negative Factors
Profitability Deficit
Deep negative margins (net margin -35.11%, negative EBIT/EBITDA) reflect structural unprofitability. Persistent losses erode equity, limit reinvestment in R&D and operations, and reduce competitiveness on large contracts unless the company materially improves pricing, cost structure, or operational efficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent double-digit revenue growth (+16.24%) signals expanding customer adoption in the capital-intensive T&D sector. Sustained top-line gains over 2-6 months can improve scale economics, help absorb fixed costs, and provide runway to invest in efficiency and backlog execution.
Read all positive factors
S&S Power Switchgear Ltd. (S&SPOWER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.97B
Dividend YieldN/A
Average Volume (3M)845.00
Price to Earnings (P/E)―
Beta (1Y)0.27
Revenue Growth18.95%
EPS Growth-109.57%
CountryIN
Employees2
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)2.84
Shares Outstanding12,341,550
10 Day Avg. Volume788
30 Day Avg. Volume845
Financial Highlights & Ratios
PEG Ratio1.31
Price to Book (P/B)4.52
Price to Sales (P/S)9.18
P/FCF Ratio1.14K
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 designs, manufactures, and sells circuit breaker products for indoor and outdoor applications in India and internationally. It offers spare parts and services; retrofit solutions, including circuit breaker and disconne...
How the Company Makes Money
S&S Power Switchgear makes money primarily by selling high-voltage switchgear and associated substation equipment to customers in the power T&D value chain (e.g., electric utilities, grid operators, and large industrial power users). Its core reve...
S&S Power Switchgear Ltd. Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jun 02, 2026
Earnings Call Sentiment Positive
The call conveyed strong execution: double-digit ARR and revenue growth (both +23% YoY), record ARR per customer, robust international expansion (+34%), meaningful margin expansion (79% gross margin, 7% operating margin) and positive cash flow momentum. Platform diversification (non-endpoint ~50% of bookings), rapid adoption of Purple AI (>40% attach rate) and strategic acquisitions (Observo, Prompt) underpin a positive long-term growth narrative. Near term, management flagged prudent Q4 guidance, modest gross margin pressure from cloud investments, acquisition and FX impacts to margins, deal-timing/linearity risks and a CFO transition. Overall, the positives (growth, margin expansion, product momentum and acquisitions) substantially outweigh the modest near-term headwinds and execution risks.Positive Updates
Strong ARR and Net New ARR Growth
Total ARR grew 23% year-over-year; company added $54 million of net new ARR in Q3, with net new ARR higher sequentially and broad-based momentum from new logos and expansion.
Negative Updates
Conservative Q4 Guide and Street Expectations
Management acknowledged Q4 guidance was somewhat lighter than some Street expectations, citing deal timing, in-quarter linearity and a dynamic macro environment as reasons to take a prudent approach.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong ARR and Net New ARR Growth
Total ARR grew 23% year-over-year; company added $54 million of net new ARR in Q3, with net new ARR higher sequentially and broad-based momentum from new logos and expansion.
Read all positive updates
Company Guidance
SentinelOne guided fiscal 2026 revenue of approximately $1.001 billion (about 22% year‑over‑year growth) and Q4 revenue of roughly $271 million (≈20% y/y), with full‑year gross margin around 78.5% and Q4 gross margin about 77.5%. The company expects full‑year operating margin to slightly exceed 3% (an improvement of more than 600 basis points vs. FY25) and Q4 operating margin of ~5% (≈400 bps y/y improvement); the outlook absorbs an estimated combined 130 bps impact from the Prompt and Observo acquisitions plus ~120 bps of FX headwinds (Observo purchase price ≈$225M with an estimated ~60 bps near‑term operating‑margin impact). Management reaffirmed positive free cash flow for FY26 (expected to be a few points higher than operating margin), noted Q4 is seasonally the largest quarter with potential deal‑timing/linearity effects, and said they expect sequentially higher net new ARR in Q4.S&S Power Switchgear Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.14B | 1.85B | 1.59B | 1.40B | 1.10B | 1.32B |
| Gross Profit | 650.90M | 645.00M | 545.42M | 395.79M | 299.12M | 414.22M |
| EBITDA | -6.07M | 32.18M | 118.84M | 3.75M | -93.48M | 31.70M |
| Net Income | -7.47M | -37.92M | 28.86M | 24.47M | -131.09M | -15.88M |
Balance Sheet | ||||||
| Total Assets | 2.30B | 2.22B | 1.38B | 1.14B | 1.11B | 1.17B |
| Cash, Cash Equivalents and Short-Term Investments | 88.81M | 169.44M | 57.74M | 34.90M | 57.18M | 52.57M |
| Total Debt | 360.97M | 289.39M | 586.74M | 531.26M | 486.39M | 235.55M |
| Total Liabilities | 1.51B | 1.52B | 1.43B | 1.22B | 1.22B | 1.19B |
| Stockholders Equity | 785.46M | 690.31M | -54.12M | -76.94M | -113.24M | -16.93M |
Cash Flow | ||||||
| Free Cash Flow | -145.67M | -206.68M | 39.62M | -123.16M | -35.29M | 72.86M |
| Operating Cash Flow | -145.02M | 116.08M | 58.27M | -113.47M | -30.84M | 78.47M |
| Investing Cash Flow | -36.76M | 408.72M | -20.47M | 100.67M | -6.04M | -9.89M |
| Financing Cash Flow | 51.52M | -413.35M | 15.43M | -6.86M | 41.76M | -50.92M |
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 |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹1.93B | 8.32 | ― | 0.86% | 7.26% | 19.13% | |
65 Neutral | ₹14.43B | 16.63 | ― | ― | 34.48% | 40.61% | |
65 Neutral | ₹84.53B | 28.99 | ― | 0.07% | 33.60% | 100.44% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ₹13.28B | 130.82 | ― | 0.62% | ― | ― | |
45 Neutral | ₹3.97B | -10.24 | ― | ― | 18.95% | -109.57% |
* Industrials Sector Average
IN:S&SPOWER
S&S Power Switchgear Ltd.
321.90
-57.10
-15.07%
IN:INDOTECH
Indo Tech Transformers Ltd.
1,359.15
-648.60
-32.30%
IN:TARIL
Transformers and Rectifiers (India) Limited
281.60
-236.48
-45.65%
IN:TATAYODOGA
Tayo Rolls Limited
89.40
0.00
0.00%
IN:VETO
Veto Switchgears & Cables Ltd.
100.71
-5.70
-5.36%
IN:WENDT
WENDT India Limited
6,639.90
-2,825.25
-29.85%
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.