Suraj Limited (SURAJLTD) AI Stock Analysis

Suraj Limited

(NSE:SURAJLTD)

Select Model

Rating:51Neutral

Price Target:INR 184.00▼(-7.61% Downside)

Action:reiterated

Date:08/24/26

The overall score is held back primarily by weak technicals and a rich valuation, as the share price is in a clear downtrend while the stock trades at a high earnings multiple and offers only a modest dividend yield. Supporting the score on the positive side, the company’s financial profile shows an improving recovery in revenue and margins with moderate leverage, though the sustainability of current earnings and the volatility in free cash flow remain key risks.

Positive Factors

FY2026 Operating ReboundFY2026's roughly 94% revenue growth, 37% gross margin and 3.6% net margin show a substantial operating rebound. If retained, this broader revenue base and improved profitability can strengthen internal funding and competitive resilience, though consistency still matters.

Negative Factors

Earnings VolatilityFY2026 profitability followed FY2025 margins and net income near breakeven, making the rebound difficult to assess as a durable earnings base. Such pronounced period-to-period swings reduce forecasting confidence and can weaken the company's ability to plan investment and capital allocation.

Suraj Limited (SURAJLTD) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 3.66B
Dividend Yield: 0.75%
Average Volume (3M): 256
Price to Earnings (P/E): 44.1
Beta (1Y): 0.30
Revenue Growth: -10.28%
EPS Growth: 127.94%
Country: India
Employees: 121
Sector: General
Sector Strength: 55
Industry: Steel

Suraj Limited Business Overview & Revenue Model

Company Description

Established in Ahmedabad, India, in 1960, Suraj Limited operates as a manufacturer and supplier of a broad spectrum of stainless steel seamless products. Its offerings, sold within India and exported to approximately 70 countries globally, encompass...

How the Company Makes Money

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Suraj Limited Financial Statement Overview

Summary

Financials show a clear recovery in revenue and profitability, with leverage moderate and improving, but margins remain modest, cash flows volatile and recently weaker, and the track record of strong returns on capital is still limited.

Income Statement

62Positive

Balance Sheet

70Positive

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024
Income Statement
Total Revenue	1.06B	2.06B	2.31B
Gross Profit	-4.71M	770.05M	2.59M
EBITDA	24.79M	223.99M	111.50M
Net Income	-50.89M	74.70M	1.56M
Balance Sheet
Total Assets	2.06B	2.26B	2.22B
Cash, Cash Equivalents and Short-Term Investments	1.58M	1.59M	1.58M
Total Debt	438.86M	603.02M	640.80M
Total Liabilities	694.07M	882.58M	894.50M
Stockholders Equity	1.37B	1.38B	1.33B
Cash Flow
Free Cash Flow	120.05M	77.61M	-3.37M
Operating Cash Flow	236.53M	172.66M	-1.56M
Investing Cash Flow	-88.72M	-62.35M	-142.93M
Financing Cash Flow	-148.74M	-110.66M	231.52M

Suraj Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price199.15

Price Trends

50DMA202.31Negative

100DMA214.50Negative

200DMA224.78Negative

Market Momentum

MACD1.37Negative

RSI47.59Neutral

STOCH54.64Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURAJLTD, the sentiment is Negative. The current price of 199.15 is below the 20-day moving average (MA) of 200.22, below the 50-day MA of 202.31, and below the 200-day MA of 224.78, indicating a bearish trend. The MACD of 1.37 indicates Negative momentum. The RSI at 47.59 is Neutral, neither overbought nor oversold. The STOCH value of 54.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SURAJLTD.

Suraj Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SURAJLTD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:MANAKSTEEL	69Neutral	INR 7.14B	9.25	―	―	80.77%	283.94%
IN:VRAJ	62Neutral	INR 4.00B	11.15	―	―	29.01%	-0.59%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BEDMUTHA	55Neutral	INR 3.48B	20.44	―	―	51.93%	45.78%
IN:SURAJLTD	51Neutral	INR 3.67B	44.10	―	0.75%	-10.28%	127.94%
IN:SHAH	44Neutral	INR 2.53B	16.47	―	―	48.83%	-21.60%

* General Sector Average

Performance Comparison

IN:SURAJLTD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SURAJLTD	Suraj Limited	199.75	-88.32	-30.66%
IN:BEDMUTHA	Bedmutha Industries Limited	109.00	-17.05	-13.53%
IN:MANAKSTEEL	Manaksia Steels Ltd	114.35	57.55	101.32%
IN:SHAH	Shah Metacorp Ltd	2.57	-1.94	-43.00%
IN:SHIVAUM	Shiv Aum Steels Ltd.	541.05	241.05	80.35%
IN:VRAJ	Vraj Iron & Steel Ltd.	124.00	-21.00	-14.48%

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: Aug 24, 2026

Suraj Limited AI Stock Analysis