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Salasar Techno Engineering Ltd. (SALASAR) AI Stock Analysis

IN:SALASAR

Salasar Techno Engineering Ltd.

(NSE:SALASAR)

Select Model
Rating:47Neutral
Price Target:INR 4.00â–²(1.52% Upside)
Action:reiterated
Date:09/26/26

The score is held down primarily by weakening financial performance (slowing/negative revenue growth and significant margin/ROE compression, with historically volatile cash flows). Technicals add further pressure due to a strong downtrend and negative momentum signals. Valuation is also a headwind given the high P/E without an offsetting dividend yield.

Positive Factors
End-to-end EPC capabilitiesAn integrated engineering, fabrication and installation model can improve project coordination and customer convenience across the delivery cycle. This broader capability may support repeat business, strengthen execution differentiation, and help the company capture more value than a narrowly focused fabricator.
Negative Factors
Revenue contraction and margin compressionThe shift from rapid expansion to declining revenue, alongside materially thinner margins, indicates weakening earnings momentum and reduced operating cushion. If sustained, this combination can constrain reinvestment, weaken returns on projects, and make profits more sensitive to execution or demand changes.

Salasar Techno Engineering Ltd. (SALASAR) vs. iShares MSCI India ETF (INDA)

-70%-60%-50%-40%-30%-20%-10%0%10%IN:SALASAR-61.82%INDA-12.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
INR 8.76B
Dividend Yield
―
Average Volume (3M)
544.26K
Price to Earnings (P/E)
54.9
Beta (1Y)
1.53
Revenue Growth
4.03%
EPS Growth
-44.58%
Country
India
Employees
1,349
Sector
General
Sector Strength
55
Industry
Steel

Salasar Techno Engineering Ltd. Business Overview & Revenue Model

Company Description

Salasar Techno Engineering Limited is an India-based provider of customized steel fabrication and infrastructure solutions. The company provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment fo...

Salasar Techno Engineering Ltd. Financial Statement Overview

Summary

Financials are mixed. Revenue growth was strong through 2024 but slowed sharply and turned negative in 2026, while profitability compressed materially (net margin down to ~1.1% in 2026). The balance sheet is serviceable with moderate leverage (~0.51 debt-to-equity), but ROE fell sharply (~2.1% in 2026). Cash flow improved in 2026 (FCF positive), yet the history of negative operating cash flow in multiple years signals higher cycle and working-capital risk.

Income Statement

54Neutral

Balance Sheet

62Positive

Cash Flow

46Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue14.98B15.03B14.47B12.07B10.05B7.19B
Gross Profit2.18B1.93B1.81B1.69B1.88B1.29B
EBITDA1.06B1.12B1.11B1.21B935.67M711.59M
Net Income136.94M172.16M191.05M529.33M401.71M314.45M
Balance Sheet
Total Assets021.54B17.25B11.51B9.14B6.83B
Cash, Cash Equivalents and Short-Term Investments441.96M441.96M528.78M26.71M4.78M3.31M
Total Debt04.22B3.17B3.50B2.73B2.49B
Total Liabilities-8.34B13.19B9.39B7.00B5.13B4.00B
Stockholders Equity8.34B8.34B7.86B4.50B4.01B2.82B
Cash Flow
Free Cash Flow85.82M364.70M-599.39M-40.55M-696.44M-252.31M
Operating Cash Flow198.54M1.12B-476.78M516.56M-1.65M14.92M
Investing Cash Flow-191.44M-2.35B-475.00K-796.14M-699.50M-272.92M
Financing Cash Flow-16.78M1.21B484.59M301.32M702.65M256.53M

Salasar Techno Engineering Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price3.94

Price Trends

50DMA4.79Negative
100DMA5.51Negative
200DMA6.51Negative

Market Momentum

MACD-0.22Negative
RSI34.49Neutral
STOCH37.19Neutral

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 3.94 is below the 20-day moving average (MA) of 4.10, below the 50-day MA of 4.79, and below the 200-day MA of 6.51, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 34.49 is Neutral, neither overbought nor oversold. The STOCH value of 37.19 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

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:SALASAR against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:RATNAMANIIN:RATNAMANI71OutperformINR 162.60B37.55―0.43%-16.30%-24.14%
IN:APLAPOLLOIN:APLAPOLLO70OutperformINR 600.02B46.05―0.39%15.83%24.85%
IN:SURYAROSNIIN:SURYAROSNI69NeutralINR 44.23B14.23―2.47%11.69%8.23%
IN:JTLINDIN:JTLIND67NeutralINR 30.04B16.30―0.16%16.02%32.54%
IN:JINDALSAWIN:JINDALSAW61NeutralINR 146.03B26.52―0.88%-0.73%-60.06%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:SALASARIN:SALASAR47NeutralINR 6.89B54.90――4.03%-44.58%

* General Sector Average

Performance Comparison

-50%0%50%IN:SALASARIN:APLAPOLLOIN:JINDALSAWIN:JTLINDIN:RATNAMANIIN:SURYAROSNIDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
IN:SALASAR and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:SALASARSalasar Techno Engineering Ltd.3.94-6.48-62.19%
IN:APLAPOLLOAPL Apollo Tubes Limited2161.00370.3420.68%
IN:JINDALSAWJindal Saw Limited228.3555.5932.18%
IN:JTLINDJTL Industries Limited76.4210.2015.41%
IN:RATNAMANIRatnamani Metals & Tubes Ltd.2319.85-150.56-6.09%
IN:SURYAROSNISurya Roshni Limited203.25-95.47-31.96%

Salasar Techno Engineering Ltd. Corporate Events

Salasar Techno Engineering Releases FY 2025-26 Annual Report for Shareholders

Sep 5, 2026

Salasar Techno Engineering Limited has released its Annual Report for the financial year 2025-26 and submitted it to both the National Stock Exchange of India and BSE in compliance with SEBI listing regulations. The report, which includes the notice...

Salasar Techno Engineering Bolsters Board With Leadership Renewals and New Independent Directors

Sep 5, 2026

Salasar Techno Engineering Ltd.’s board has approved the re-appointment of Managing Director Shashank Agarwal and whole-time directors Shalabh Agarwal and Tripti Gupta for five-year terms starting December 10, 2026, subject to shareholder appro...

Salasar Techno Engineering Moves AGM and Shareholder Communication Fully Online

Sep 5, 2026

Salasar Techno Engineering Ltd. has dispatched letters containing web links and QR codes to shareholders whose email addresses are not registered, enabling them to access the notice of the 25th Annual General Meeting and the annual report for FY 2025...

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.

Date of analysis: Sep 25, 2026