Stock Price Movement and Market Context
As of 24 Feb 2026, Surana Solar Ltd’s stock closed just 4.19% above its 52-week low of ₹22.2, signalling sustained downward pressure. The stock has reversed course after two consecutive days of gains, aligning with the sector’s overall performance today. It is trading below all major moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — indicating a prevailing bearish trend.
In comparison, the broader market, represented by the Nifty index, closed at 25,424.65, down 1.12% for the day. The Nifty remains 3.73% below its 52-week high of 26,373.20, with large-cap stocks leading the market recovery. However, Surana Solar’s performance starkly contrasts with the market’s relative stability and the Nifty Next 50’s modest gain of 0.08%.
Financial Performance and Profitability Concerns
Surana Solar’s financial metrics reveal ongoing difficulties. The company reported net sales of ₹5.14 crores over the latest six months, reflecting a steep decline of 79.37%. This contraction in revenue has contributed to a negative EBITDA, underscoring the company’s challenges in generating operating profits.
Over the past five years, the company’s operating profits have deteriorated at a compounded annual growth rate (CAGR) of -242.07%, a figure that highlights sustained financial strain. The average Return on Equity (ROE) stands at a modest 1.34%, indicating limited profitability relative to shareholders’ funds.
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Debt Servicing and Risk Profile
The company’s ability to service its debt remains weak, with an average EBIT to interest ratio of -1.66. This negative ratio suggests that earnings before interest and tax are insufficient to cover interest expenses, raising concerns about financial stability.
Surana Solar’s stock is considered risky relative to its historical valuations. The stock’s one-year return of -31.45% contrasts sharply with the Sensex’s positive 10.44% return over the same period. This underperformance extends beyond the short term, with the stock lagging the BSE500 index over one year, three years, and the last three months.
Shareholding Pattern and Market Capitalisation
The majority of Surana Solar’s shares are held by non-institutional investors, which may influence liquidity and trading dynamics. The company holds a market capitalisation grade of 4, reflecting its relatively modest size within the sector.
Sector and Industry Positioning
Operating within the Heavy Electrical Equipment industry, Surana Solar faces competitive pressures and sectoral headwinds. The company’s Mojo Score of 12.0 and a recent downgrade from a Sell to a Strong Sell rating on 11 Feb 2025 further illustrate the challenges it faces in reversing its fortunes.
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Historical Price Performance
Surana Solar’s 52-week high was ₹41.44, nearly double its current price level. The stock’s decline of over 31% in the past year reflects a significant erosion of market value. This trend is consistent with the company’s deteriorating financial fundamentals and subdued sales growth.
The stock’s recent fall to its 52-week low is a continuation of a broader downtrend that has persisted despite short-lived rallies. The gap between the current price and the 52-week high underscores the challenges the company faces in regaining investor confidence.
Summary of Key Metrics
To summarise, Surana Solar Ltd’s key financial and market metrics as of February 2026 are:
- 52-week low price: ₹22.2
- Current price proximity to 52-week low: 4.19%
- One-year stock return: -31.45%
- Sensex one-year return: +10.44%
- Operating profit CAGR (5 years): -242.07%
- Net sales growth (latest six months): -79.37%
- Average ROE: 1.34%
- EBIT to interest ratio (average): -1.66
- Mojo Score: 12.0 (Strong Sell)
- Market Cap Grade: 4
Market and Sector Comparison
While the broader market indices show signs of resilience, Surana Solar’s performance remains subdued. The stock’s trading below all major moving averages contrasts with the Nifty’s position, where the 50-day moving average remains above the 200-day moving average, a technical indicator often associated with a positive market trend.
Large-cap stocks have been leading the market, with the Nifty Next 50 index posting gains, whereas Surana Solar’s micro-cap status and financial metrics place it at a relative disadvantage within the Heavy Electrical Equipment sector.
Conclusion
Surana Solar Ltd’s recent fall to its 52-week low price of ₹22.2 reflects ongoing financial and market challenges. The company’s weak sales growth, negative profitability metrics, and poor debt servicing capacity have contributed to a sustained downtrend in its stock price. Despite short-term rallies, the stock remains below all key moving averages and continues to underperform broader market indices and sector peers.
Investors and market participants will note the company’s downgrade to a Strong Sell rating and its low Mojo Score, which encapsulate the current market sentiment and fundamental outlook. The stock’s performance over the past year and longer term highlights the difficulties faced by Surana Solar in reversing its trajectory within a competitive and capital-intensive industry.
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