Salasar Techno Engineering Ltd. (SALASAR) AI Stock Analysis

• Market Cap: ₹15.58B
• Dividend Yield: 0.24%
• Average Volume (3M): 3.17M
• Price to Earnings (P/E): 62.6
• Beta (1Y): 0.83
• Revenue Growth: 16.09%
• EPS Growth: -56.92%
• Country: IN
• Employees: 1,312
• Sector: Services
• Sector Strength: N/A
• Industry: Steel
• EPS (TTM): 0.05
• Shares Outstanding: 1,726,770,300
• 10 Day Avg. Volume: 2,880,284
• 30 Day Avg. Volume: 3,170,372
• PEG Ratio: -1.27
• Price to Book (P/B): 2.10
• Price to Sales (P/S): 1.14
• P/FCF Ratio: -27.48
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹9.50
• Price Target Upside: 5.32% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 64 Neutral
• Price Target: ₹9.50 ▲(5.32% Upside)

Salasar Techno Engineering Ltd. shows strong revenue growth and a stable balance sheet, which are positive indicators. However, the high P/E ratio suggests overvaluation, and inconsistent cash flows pose a risk. Technical indicators show neutral momentum, which does not strongly support a bullish outlook. Overall, the stock score reflects a cautious stance due to valuation concerns and operational challenges.

Salasar Techno Engineering Ltd. Business Overview & Revenue Model

Company Description

Salasar Techno Engineering Limited manufactures and sells galvanized steel structures in India and internationally. The company's products include telecommunication towers, power transmission line towers, smart lighting poles, monopoles, guard rails, substation structures, solar module mounting structures, and customized galvanized and non-galvanized steel structures. It also offers engineering, procurement, and control services for rural electrification, power transmission lines, and solar power plant projects. In addition, the company undertakes engineering, procurement, and construction projects for survey, supply of materials, design, erection, and testing and commissioning on a turnkey basis. Salasar Techno Engineering Limited was incorporated in 2001 and is based in New Delhi, India.

How the Company Makes Money

Salasar Techno Engineering Ltd. generates revenue primarily through its diverse range of engineering and infrastructure services. Its key revenue streams include the fabrication and installation of telecommunication towers, which are crucial for network providers to expand their coverage. Additionally, SALASAR is involved in the construction of power transmission lines, catering to utilities and power companies to enhance electricity distribution. The company's expertise in solar mounting structures supports the growing renewable energy sector, providing solutions for solar power installations. Strategic partnerships with telecommunications companies, power utilities, and renewable energy firms significantly contribute to its earnings, enabling the company to secure substantial contracts and maintain a steady flow of projects.

Salasar Techno Engineering Ltd. Financial Statement Overview

Summary

Salasar Techno Engineering Ltd. exhibits robust revenue growth and a strong equity position, indicative of solid market performance and financial management. However, the declining net income and erratic cash flow trends highlight areas needing attention, particularly cost management and operational efficiency. The balance sheet remains stable, but cash flow management poses a potential risk, requiring strategic improvements.

Income Statement

Salasar Techno Engineering Ltd. has shown strong revenue growth over the years with a notable increase from INR 5,813 million in 2021 to INR 14,474 million in 2025. Despite a dip in EBIT and EBITDA margins in 2025 compared to previous years, the company maintains good overall profitability with a consistent gross profit margin. However, the significant drop in net income in 2025 indicates challenges in managing costs or increased financial expenses.

Balance Sheet

The company's balance sheet reveals a solid equity base with a debt-to-equity ratio of 0.40 in 2025, showcasing prudent financial management in terms of leverage. The equity ratio has strengthened over the years, reflecting an increase in stockholder equity relative to total assets. However, the increase in total debt and liabilities in 2025 points to a potential risk if not managed carefully.

Cash Flow

Cash flow analysis shows inconsistency, with negative free cash flow in most years, including a significant negative free cash flow of INR 599 million in 2025. Despite this, the company has managed financing cash flows effectively. The operating cash flow to net income ratio is concerning, indicating operational challenges affecting cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.45B	14.47B	12.07B	7.00B	10.05B	5.81B
Gross Profit	2.01B	1.81B	1.69B	1.29B	1.88B	1.08B
EBITDA	1.27B	1.11B	1.21B	711.59M	935.67M	671.29M
Net Income	491.26M	191.05M	529.33M	314.45M	401.71M	296.47M
Balance Sheet
Total Assets	0.00	17.25B	11.51B	6.83B	9.14B	5.53B
Cash, Cash Equivalents and Short-Term Investments	248.63M	528.78M	26.71M	3.31M	749.59M	106.14M
Total Debt	0.00	3.17B	3.50B	2.49B	2.73B	1.98B
Total Liabilities	-7.04B	9.39B	7.00B	4.00B	5.13B	3.00B
Stockholders Equity	7.04B	7.86B	4.50B	2.82B	4.01B	2.53B
Cash Flow
Free Cash Flow	-725.95M	-599.39M	-40.55M	-252.31M	-696.44M	-340.63M
Operating Cash Flow	-670.36M	-476.78M	516.56M	14.92M	-1.65M	-71.27M
Investing Cash Flow	-1.63B	-475.00K	-796.14M	-272.92M	-699.50M	-235.42M
Financing Cash Flow	2.29B	484.59M	301.32M	256.53M	702.65M	304.38M

Salasar Techno Engineering Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SALASAR, the sentiment is Negative. The current price of 9.02 is below the 20-day moving average (MA) of 9.06, above the 50-day MA of 8.03, and below the 200-day MA of 9.66, indicating a neutral trend. The MACD of 0.43 indicates Positive momentum. The RSI at 52.48 is Neutral, neither overbought nor oversold. The STOCH value of 22.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SALASAR.

Salasar Techno Engineering Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
YATRA	67 Neutral	22.08B	45.50	4.67%	―	118.05%	―
VASCONEQ	67 Neutral	13.10B	9.15	11.92%	―	-0.49%	115.68%
SALASAR	64 Neutral	₹15.58B	62.64	―	0.24%	16.09%	-56.92%
SPMLINFRA	56 Neutral	17.61B	36.97	6.22%	―	-38.70%	527.14%
VERANDA	42 Neutral	20.10B	-6.97	-96.25%	―	19.26%	-146.36%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Salasar Techno Engineering Ltd. Corporate Events

Salasar Techno Launches ‘Saksham Niveshak’ Campaign to Aid Shareholders

Salasar Techno Engineering Limited has announced its participation in the ‘Saksham Niveshak’ campaign, initiated by the Investor Education and Protection Fund Authority under the Ministry of Corporate Affairs. This 100-day campaign aims to assist shareholders in claiming unpaid or unclaimed dividends by helping them update their KYC, bank mandates, nominee details, and contact information. This initiative is expected to enhance shareholder engagement and ensure that stakeholders receive their entitled dividends, thereby improving the company’s relationship with its investors.