Recent Price Movement and Market Context
On 6 January 2026, Suraj Products Ltd. touched an intraday low of Rs.204.75, down 3.62% from the previous close, and closing the day with a decline of 0.71%. This new low represents a substantial drop from its 52-week high of Rs.504.90, reflecting a year-long downward trajectory. The stock has underperformed its sector by 2.49% today and has experienced a consecutive two-day fall, resulting in a cumulative loss of 4.98% over this period.
Intraday trading saw the stock reach a high of Rs.218.85, up 3.01%, but this was insufficient to offset the downward pressure. Notably, Suraj Products is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling sustained bearish momentum.
In contrast, the broader market index, Sensex, opened lower by 108.48 points and traded at 85,221.32, down 0.26%. Despite this, Sensex remains close to its 52-week high of 86,159.02, trading above its 50-day and 200-day moving averages, indicating a generally bullish market environment that Suraj Products has not mirrored.
Long-Term Performance and Financial Trends
Over the past year, Suraj Products Ltd. has delivered a negative return of 55.31%, a stark contrast to the Sensex’s positive 9.31% gain over the same period. This underperformance extends beyond the last year, with the stock lagging behind the BSE500 index across one-year, three-month, and three-year timeframes.
Financially, the company’s growth metrics have been modest. Net sales have increased at an annualised rate of 12.70% over the last five years, while operating profit has grown at 11.93%. However, recent quarterly results have been disappointing, with the company reporting negative outcomes for four consecutive quarters.
Specifically, Profit Before Tax excluding Other Income (PBT LESS OI) for the latest quarter stood at Rs.3.82 crore, down 51.65%, while Profit After Tax (PAT) declined by 50.7% to Rs.3.20 crore. Net sales for the quarter were at a low of Rs.58.69 crore, underscoring the subdued revenue environment.
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Valuation and Efficiency Metrics
Despite the recent price decline and earnings contraction, Suraj Products exhibits certain strengths in operational efficiency and financial health. The company maintains a high Return on Capital Employed (ROCE) of 25.99%, indicating effective utilisation of capital resources. Additionally, its Return on Equity (ROE) stands at 10.7%, reflecting reasonable profitability relative to shareholder equity.
Debt servicing capacity remains robust, with a low Debt to EBITDA ratio of 0.52 times, suggesting manageable leverage levels. The stock’s Price to Book Value ratio is 1.7, which is attractive compared to peers’ historical valuations, signalling that the market currently prices the company at a discount relative to its book value.
However, the company’s profitability has declined by 39.4% over the past year, aligning with the downward trend in share price and highlighting challenges in maintaining earnings momentum.
Shareholding and Market Sentiment
The majority shareholding of Suraj Products Ltd. remains with the promoters, indicating concentrated ownership. The company’s Mojo Score is 36.0, with a Mojo Grade of Sell as of 13 November 2025, downgraded from Hold. The Market Cap Grade is rated 4, reflecting its micro-cap status within the Iron & Steel Products sector.
These ratings and scores reflect the company’s current standing in the market, influenced by its recent financial performance and stock price behaviour.
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Summary of Key Performance Indicators
To summarise, Suraj Products Ltd. has experienced a significant decline in its stock price, reaching Rs.204.75, its lowest level in 52 weeks. The stock’s performance over the past year has been notably weak, with a return of -55.31%, contrasting sharply with the broader market’s positive trend. Quarterly financial results have shown contraction in profits and sales, contributing to the subdued market sentiment.
Nonetheless, the company maintains commendable management efficiency, as reflected in its ROCE and debt metrics, and trades at a valuation discount relative to peers. These factors provide context to the current price level and underline the complexity of the stock’s recent performance.
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