Surana Solar Limited (SURANASOL) AI Stock Analysis

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Surana Solar Limited

(NSE:SURANASOL)

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Rating:47.3Neutral

Price Target:INR 22.50▼(-3.56% Downside)

Action:reiterated

Date:11/07/26

The score is primarily constrained by sharply deteriorating profitability, a 46% revenue decline, negative free cash flow, and substantial operating losses. The debt-free balance sheet and moderate P/E provide limited support, while technical momentum remains weak.

Positive Factors

Debt-free balance sheetA debt-free balance sheet reduces interest burden and refinancing exposure, preserving financial flexibility through operating volatility. Stable assets and equity also provide a stronger platform for funding solar manufacturing and solutions without relying heavily on external borrowing.

Negative Factors

Unstable profitabilityNegative gross profit and recurring swings in operating and net results indicate that revenue growth has not yet translated into dependable earnings quality. This weakens confidence in margin sustainability and may limit the company’s ability to compound profits consistently.

Surana Solar Limited (SURANASOL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.15B
Dividend Yield: ―
Average Volume (3M): 7,430
Price to Earnings (P/E): 17.5
Beta (1Y): 1.15
Revenue Growth: 144.37%
EPS Growth: 7620.69%
Country: India
Employees: 68
Sector: General
Sector Strength: 55
Industry: Solar

Surana Solar Limited Business Overview & Revenue Model

Company Description

Surana Solar Limited, headquartered in Hyderabad, India, and established in 2006, functions as a global and domestic provider of solar panels and photovoltaic modules. The enterprise operates primarily through two segments: Solar Products and Wind Po...

Surana Solar Limited Financial Statement Overview

Summary

Severe operating weakness and negative free cash flow outweigh the debt-free balance sheet. Revenue fell 46%, gross and operating margins were negative, and free cash flow was -₹61.6 million, while zero debt provides financial stability.

Income Statement

42Neutral

Balance Sheet

68Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	435.49M	208.34M	388.00M	177.06M	421.83M	248.32M
Gross Profit	49.04M	-16.21M	40.56M	56.20M	13.25M	55.81M
EBITDA	95.32M	-31.41M	14.58M	10.84M	60.70M	47.69M
Net Income	66.10M	12.40M	585.00K	-12.59M	22.85M	8.46M
Balance Sheet
Total Assets	739.72M	673.61M	598.32M	588.65M	594.38M	685.03M
Cash, Cash Equivalents and Short-Term Investments	74.55M	67.84M	68.67M	83.31M	60.26M	586.00K
Total Debt	0	0	0	0	0	103.84M
Total Liabilities	103.12M	98.95M	36.06M	26.98M	20.11M	133.62M
Stockholders Equity	636.59M	574.66M	562.26M	561.68M	574.26M	551.41M
Cash Flow
Free Cash Flow	0	-61.62M	2.70M	1.13M	136.92M	-84.70M
Operating Cash Flow	0	96.45M	15.13M	1.13M	138.89M	-81.63M
Investing Cash Flow	0	-125.35M	47.03M	-63.00K	-36.26M	51.56M
Financing Cash Flow	0	29.68M	-57.24M	615.00K	-101.48M	29.54M

Surana Solar Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price23.33

Price Trends

50DMA24.02Negative

100DMA25.15Negative

200DMA24.91Negative

Market Momentum

MACD-0.29Negative

RSI54.83Neutral

STOCH86.51Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURANASOL, the sentiment is Negative. The current price of 23.33 is above the 20-day moving average (MA) of 22.35, below the 50-day MA of 24.02, and below the 200-day MA of 24.91, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 54.83 is Neutral, neither overbought nor oversold. The STOCH value of 86.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SURANASOL.

Surana Solar Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SURANASOL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:WEBELSOLAR	78Outperform	INR 31.63B	9.15	―	0.35%	97.39%	67.02%
IN:SOLEX	56Neutral	INR 7.17B	8.87	―	0.08%	―	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SURANASOL	47Neutral	INR 1.15B	17.54	―	―	144.37%	7620.69%
IN:SWELECTES	44Neutral	INR 9.45B	22.14	―	0.57%	-10.86%	55.28%
IN:URJA	40Underperform	INR 4.58B	221.17	―	―	-18.75%	-0.54%

* General Sector Average

Performance Comparison

IN:SURANASOL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SURANASOL	Surana Solar Limited	23.33	-7.40	-24.08%
IN:GENSOL	Gensol Engineering Limited	10.21	-21.27	-67.57%
IN:SOLEX	Solex Energy Ltd.	655.45	-1053.30	-61.64%
IN:SWELECTES	Swelect Energy Systems Limited	618.00	-161.95	-20.76%
IN:URJA	Urja Global Limited	8.66	-3.68	-29.82%
IN:WEBELSOLAR	Websol Energy System Limited	72.48	-59.18	-44.95%

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: Nov 05, 2026

Surana Solar Limited AI Stock Analysis