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S&S Power Switchgears Limited (S&SPOWER)

📊 NSE: S&SPOWER 🏢 Electric Equipment 📅 Last Updated: 12/14/2025 12:31

📢 Recent Corporate Announcements

S&S Power Switchgear Schedules 48th AGM for Sep 28, 2026; Sets Sep 21 Cut-Off Date

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 10:38 PM

S&S Power Switchgear Limited has issued a notice regarding the availability and dispatch of the web-link for its FY 2025-26 Annual Report to unregistered email holders. The company announced that its 48th Annual General Meeting (AGM) will be held via video conferencing on September 28, 2026, at 03:00 PM IST. The cut-off date to determine shareholder voting eligibility is Monday, September 21, 2026. The remote e-voting window will be open from September 25, 2026, to September 27, 2026.

48th Annual General Meeting scheduled for September 28, 2026, at 03:00 PM IST via Video Conferencing.
Cut-off date for remote e-voting eligibility set for September 21, 2026.
Remote e-voting window opens September 25, 2026 (09:00 AM IST) and closes September 27, 2026 (05:00 PM IST).
Web-link for FY26 Annual Report dispatched to shareholders without registered email addresses pursuant to Regulation 36(1)(b).

💡 Eligible shareholders holding shares on or before the September 21, 2026 cut-off date can participate in the remote e-voting process or attend the AGM on September 28, 2026.

S&S Power Convenes 48th AGM on Sept 28, 2026; Releases FY26 Annual Report

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Sep 2026, 09:25 PM

S&S Power Switchgear Limited has notified the exchanges of its 48th Annual General Meeting scheduled for September 28, 2026, via video conferencing. The accompanying FY26 Annual Report highlights group revenue increasing to ₹266.79 crore (up from ₹187.43 crore in FY25) and EBITDA growing to ₹12.92 crore (4.84% margin). Acrastyle completed a 40% capacity expansion in the UK, with additional expansions planned in Chennai and Kolkata. Management reaffirmed its FY28 roadmap aiming for ~25% annual organic revenue growth and 12–15% EBITDA margins.

48th AGM scheduled for September 28, 2026, with remote e-voting from September 25 to September 27, 2026.
Record/Cut-off date for e-voting eligibility set for September 21, 2026.
FY26 group revenue reported at ₹266.79 crore with EBITDA of ₹12.92 crore (4.84% margin) vs ₹3.60 crore in FY25.
Completed a 40% manufacturing capacity expansion in the UK (Acrastyle), with further expansions planned at Kolkata and Chennai.
Targeting 12–15% EBITDA margins and doubling organic revenue over the FY25 base by FY28.

💡 Shareholders holding shares on the cut-off date of September 21, 2026, can cast votes remotely between September 25 and September 27, 2026, ahead of the AGM on September 28, 2026.

S&S Power Switchgear Appoints KFin Technologies as New RTA Effective September 2, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 11:15 AM

S&S Power Switchgear Limited has transitioned its Registrar to an Issue and Share Transfer Agent (RTA) from GNSA Infotech Private Limited to KFin Technologies Limited, effective September 2, 2026. Both NSDL and CDSL have completed the electronic connectivity migration to KFin Technologies as of September 2, 2026. The required tripartite agreement among the company, the outgoing RTA, and the incoming RTA is currently in process. All future shareholder correspondence regarding equity shares should now be addressed to KFin Technologies.

RTA changed from GNSA Infotech Private Limited to KFin Technologies Limited w.e.f. September 2, 2026
Electronic depository connectivity shifted and confirmed by NSDL (dated September 1, 2026) and CDSL (dated September 2, 2026)
Execution of the formal tripartite agreement under Regulation 7(4) of SEBI LODR is under process

💡 Shareholders seeking physical share transfers, demat requests, or folio updates should direct correspondence to KFin Technologies; no action is required for everyday trading operations.

Shareholders Approve Appointment of Martin Ansell as Independent Director with 99.93% Votes

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 08:42 PM

S&S Power Switchgears Limited announced the voting results of its postal ballot concluded on August 21, 2026. Shareholders approved the special resolution for the appointment of Mr. Martin Ansell (DIN: 11730141) as an Independent Director. Out of 94,13,919 total votes polled (representing 76.28% of outstanding shares), 99.93% (94,06,879 votes) voted in favour.

Special resolution to appoint Mr. Martin Ansell as Independent Director approved by shareholders.
99.93% of polled votes (94,06,879 votes) were cast in favour, with only 0.07% (7,040 votes) against.
Overall turnout was 76.28% (94,13,919 votes cast across 12,341,550 total equity shares).
Promoter and promoter group cast 100% of their 92,53,036 shares in favour.

💡 Track board governance updates and execution of the company's FY26-FY28 strategic roadmap during upcoming quarterly earnings.

Wins ₹8-10 Cr Order from Hitachi Energy India for Isolator Supply

🟢 POSITIVE ⭐ 5/10

OTHER 📅 24 Aug 2026, 03:16 PM

S&S Power Switchgears Limited's wholly owned subsidiary, S&S Power Switchgear Equipment Limited, has secured a purchase order valued at over ₹8-10 crore from Hitachi Energy India Ltd. The contract involves the supply of isolators for the Dilip Buildcon package Karnataka project. Deliveries are scheduled to commence at the end of the current financial year with execution planned between March 2027 and June 2027. The order represents approximately 3.0% to 3.6% of the company's TTM revenue of ₹276 crore.

Order value is stated at more than ₹8-10 crore
Awarded by domestic entity Hitachi Energy India Limited for the Dilip Buildcon package Karnataka project
Execution timeline slated between Mar'27 and Jun'27, with deliveries starting end of FY27
Secured via wholly owned subsidiary S&S Power Switchgear Equipment Limited (SSPSE)

💡 Track execution milestones and revenue recognition across Q4 FY27 and Q1 FY28, along with operating margin trajectory on switchgear equipment orders.

S&S Power Unit Wins Largest-Ever ₹50+ Cr Order from Vedanta Aluminium

🟢 POSITIVE ⭐ 8/10

OTHER 📅 21 Aug 2026, 12:25 PM

S&S Power Switchgear's wholly owned subsidiary, Hamilton Research & Technology Private Limited (HART), has received a landmark purchase order exceeding ₹50 crore from Vedanta Aluminium Metal Limited. The order covers the supply of Pot Control Systems along with installation and commissioning services. This represents the single largest contract in the company's history, accounting for approximately 18.1% of its TTM revenue of ₹276 crore. Execution will occur partly in the current financial year and the rest in the next financial year.

Order value exceeds ₹50 crore, marking the single largest contract ever received by the company
Awarded to wholly owned subsidiary Hamilton Research & Technology Private Limited (HART) by Vedanta Aluminium Metal Limited
Order size represents ~18.1% of TTM revenue (₹276 crore)
Execution timeline spans partly across current financial year and balance in the upcoming financial year

💡 Track execution progress and operating margin impact in the upcoming quarterly results to verify profitable delivery of the installation and commissioning scope.

S&S Power Posts Q1 FY27 Revenue of ₹71.65 Cr, Outlines 3-Year Growth Targets

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 15 Aug 2026, 08:31 AM

S&S Power Switchgear released its updated Investor Presentation outlining Q1 FY27 performance and progress on its 3-year strategic roadmap (FY26–FY28). Q1 FY27 revenue grew 18.6% YoY to ₹71.65 Cr (₹7,165 Lakhs), while EBITDA declined to ₹2.20 Cr (₹220 Lakhs) and EPS dropped to ₹(0.21) due to automation business execution delays and deferred tax asset reversals. New order inflows stood at ₹37.59 Cr for the quarter compared to ₹87.20 Cr in Q1 FY26. The group reiterated its FY28 goals to double organic revenues from FY25 levels, expand EBITDA margins to 12–15%, and become debt-free by March 2028.

Q1 FY27 revenue increased 18.6% YoY to ₹7,165 Lakhs (₹71.65 Cr) compared to ₹6,041 Lakhs in Q1 FY26
EBITDA for Q1 FY27 declined to ₹220 Lakhs vs ₹410 Lakhs in Q1 FY26, with EPS at ₹(0.21) vs ₹1.43 YoY
Q1 FY27 new order bookings stood at ₹3,759 Lakhs against ₹8,720 Lakhs in the prior-year period
Phase-I capacity expansion at Acrastyle completed and operational as of July 2026
Targeting organic revenue doubling from FY25 baseline, 12-15% EBITDA margins, and net debt-free status by FY28

💡 Track execution recovery in subsequent quarters, particularly the commencement of HART's Egypt project execution scheduled for September 2026 and margin rebound towards the 12-15% EBITDA target.

S&S Power Switchgear Appoints Srikant Sharma as CFO Following Resignation of C N Sathyanarayanan

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 14 Aug 2026, 08:28 PM

S&S Power Switchgear announced the resignation of Chief Financial Officer C N Sathyanarayanan effective 14th August 2026 due to personal commitments. In his place, the Board has appointed Srikant Sharma as the new CFO effective 14th August 2026. Mr. Sharma brings 17 years of experience in accounting and corporate finance, having previously held senior roles across Reliance Brands, Coffee Day Global, and Tata Capital. Concurrently, the Board approved Q1 FY27 financial results and scheduled the 48th Annual General Meeting for 28th September 2026.

C N Sathyanarayanan resigned as Chief Financial Officer with effect from close of business on 14th August 2026.
Srikant Sharma appointed as new CFO effective 14th August 2026 until superannuation.
Incoming CFO Srikant Sharma brings 17 years of experience with qualifications including ACA, CFA, and MBA.
The 48th Annual General Meeting is scheduled for Monday, 28th September 2026 at 03:00 PM via video conferencing.

💡 Track the seamless transition in financial leadership and monitor upcoming quarterly performance and margin execution under the new finance leadership.

S&S Power Q1 Standalone PBT Rises to ₹50.25 Lakh; Appoints Srikant Sharma as CFO

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 08:18 PM

S&S Power Switchgear reported standalone Profit Before Tax of ₹50.25 lakh for the quarter ended June 30, 2026, improving from a loss of ₹17.39 lakh in Q1 FY26 and profit of ₹17.07 lakh in Q4 FY26. Total comprehensive income for the quarter stood at ₹46.66 lakh compared to a loss of ₹170.20 lakh in the previous year quarter. Additionally, the company announced a Key Managerial Personnel change with the resignation of Group CFO C N Sathyanarayanan and the appointment of Srikant Sharma as Chief Financial Officer effective August 14, 2026. The 48th Annual General Meeting is scheduled for September 28, 2026.

Standalone Profit Before Tax stood at ₹50.25 lakh in Q1 June 2026 versus a loss of ₹17.39 lakh in Q1 June 2025
Standalone Total Comprehensive Income reached ₹46.66 lakh compared to a loss of ₹170.20 lakh in Q1 June 2025
Quarterly ESOP amortization charge included in expenses was ₹85.00 lakh versus ₹82.00 lakh in Q1 June 2025
Appointed Srikant Sharma (CA, CFA, MBA with 17 years experience) as new Chief Financial Officer effective August 14, 2026
48th Annual General Meeting convened for September 28, 2026

💡 Track consolidated revenue and margin execution against the company's stated 20% CAGR growth target and monitor full segment disclosures in the upcoming 48th AGM proceedings on September 28, 2026.

₹8 Cr+ Order Win from Siemens Energy India for Maharashtra Project

🟢 POSITIVE ⭐ 5/10

ROUTINE 📅 24 Jul 2026, 12:06 PM

S&S Power Switchgears' subsidiary, SSPSE, has secured a purchase order exceeding ₹8 Crores from Siemens Energy India Ltd. The contract involves the supply of isolators for the KCC Wagdari package project in Maharashtra. While the order value represents approximately 3% of the company's TTM revenue of ₹264 Cr, it is significant relative to its TTM PAT of ₹10 Cr. Execution is scheduled for the next financial year (FY 2027-28).

Order value confirmed at more than ₹8 Crores
Contract awarded by Siemens Energy India Ltd for a domestic project in Maharashtra
Execution and delivery scheduled for the next financial year (FY 2027-28)
Order represents approximately 80% of the company's TTM Net Profit of ₹10 Cr

💡 Investors should monitor the company's operating margins, which stood at a thin 3.7% TTM, to see if such Tier-1 client orders improve profitability. Watch for execution updates starting in the next financial year.

S&S Power Switchgears Issues Postal Ballot Notice via Newspaper Publication

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Jul 2026, 05:53 PM

S&S Power Switchgears Limited has published notices in English (Trinity Mirror) and Tamil (Makkal Kural) newspapers on July 23, 2026, regarding the dispatch of a Postal Ballot Notice. This is a standard regulatory requirement under SEBI (LODR) Regulations 30 and 47 to facilitate shareholder e-voting. The filing confirms the administrative step of notifying shareholders, though the specific resolutions were not detailed in this brief exchange update. The company currently has a TTM revenue of Rs 264 Cr and a market capitalization of Rs 426 Cr.

Newspaper publication date: July 23, 2026
Notices published in Trinity Mirror (English) and Makkal Kural (Tamil)
Complies with SEBI (LODR) Regulations 30 and 47
Relates to the dispatch of Postal Ballot Notice and e-voting information
Company TTM revenue stands at Rs 264 Cr

💡 Investors should review the specific resolutions in the full Postal Ballot Notice (when available) to understand any proposed corporate actions or changes.

S&S Power Seeks Approval for Appointment of Mr. Martin Ansell as Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 22 Jul 2026, 08:33 PM

S&S Power Switchgears has issued a postal ballot notice to confirm the appointment of Mr. Martin Ansell as an Independent Director for a five-year term (2026-2031). Mr. Ansell, a UK national with over 40 years of international energy sector experience, is currently an Additional Director. The company proposes a quarterly remuneration of ₹2,00,000 plus sitting fees, which may exceed 1% of net profits, requiring a special resolution. Shareholders can vote electronically between July 23 and August 21, 2026.

Appointment of Mr. Martin Ansell for a 5-year term from May 22, 2026, to May 21, 2031.
Proposed quarterly remuneration of ₹2,00,000 (₹8 Lakhs annually) plus sitting fees.
Remote e-voting period scheduled from July 23, 2026, to August 21, 2026.
Cut-off date for shareholder voting eligibility set as July 17, 2026.
Special resolution required as the director will attain the age of 75 during his tenure.

💡 Investors should monitor the voting results to be announced by August 25, 2026, to confirm the formalization of this board addition.

S&S Power Switchgears Approves Postal Ballot Process and Cut-Off Date

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Jul 2026, 08:15 PM

S&S Power Switchgears Limited announced that its Board of Directors approved a circular resolution on July 21, 2026, to initiate a postal ballot process. The board has fixed a cut-off date to determine shareholder eligibility and appointed a scrutinizer for remote e-voting. While the specific agenda for the postal ballot was not disclosed in this filing, the formal notice will be issued to shareholders in due course. This is a standard procedural step for seeking shareholder approval on corporate matters.

Board approved the circular resolution on July 21, 2026, for a postal ballot process.
Fixation of a cut-off date for determining eligible shareholders to vote was approved.
A scrutinizer has been appointed to oversee the remote e-voting process.
The draft notice of the postal ballot was approved and will be filed with exchanges shortly.

💡 Investors should wait for the detailed Postal Ballot Notice to understand the specific corporate actions or resolutions being proposed for shareholder approval.

S&S Power: 3,969 Shares Dematerialized in Quarter Ended June 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 08:38 AM

S&S Power Switchgears Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. For the quarter ended June 30, 2026, the company's Registrar and Transfer Agent (RTA), GNSA Infotech Private Limited, processed the dematerialization of 3,969 equity shares. This involved the cancellation of 155 physical share certificates. This is a standard administrative filing confirming that physical shares are being converted into electronic form as per regulatory requirements.

Processed 155 physical share certificates for dematerialization during the quarter.
A total of 3,969 equity shares were converted from physical to electronic form.
Compliance certificate issued by RTA GNSA Infotech Private Limited dated July 07, 2026.
Confirmation that the name of the depository has been substituted in records as the registered owner.

💡 No action is required from investors as this is a routine regulatory filing regarding the administrative handling of share certificates.

S&S Power Switchgears Closes Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Jun 2026, 02:13 PM

S&S Power Switchgears Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is in anticipation of the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026. The window will remain closed for all directors and designated persons until 48 hours after the results are officially declared. This is a standard regulatory procedure and does not reflect any change in the company's operational performance, which recorded a TTM revenue of Rs 264 Cr.

Trading window closure commences on July 01, 2026
Closure pertains to the financial results for the quarter ending June 30, 2026
Restriction applies to all Directors, Designated Persons, and their immediate relatives
Window to reopen 48 hours after the declaration of financial results

💡 Investors should watch for the upcoming announcement of the Board Meeting date, which will determine when the Q1 FY27 financial results will be released.

View All S&SPOWER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Manufacture of electrical equipment for transmission and distribution of power. Standalone total income for H1 FY26 was INR 3.63 Cr, representing a 55.9% decrease from INR 8.24 Cr in H1 FY25.

Geographic Revenue Split

Not disclosed in exact percentages; however, the group includes subsidiaries in India and the UK (Acrastyle and Hamilton Research), with a strategic focus on expanding into 1-2 select export markets by FY28.

Profitability Margins

Standalone Net Margin for H1 FY26 was -5.6% (Loss of INR 0.20 Cr on INR 3.63 Cr income), compared to a positive margin of 0.97% in H1 FY25. The company targets doubling organic revenues by FY28 to improve these figures.

EBITDA Margin

The company has set a target EBITDA margin corridor of 12-15% by FY28. Core profitability is currently under pressure with a standalone operating loss of INR 0.20 Cr in H1 FY26.

Capital Expenditure

The company received a INR 50 Cr promoter-investor infusion to boost net worth and balance sheet strength. Planned investments include 1.0-1.25% of revenue into R&D annually.

Credit Rating & Borrowing

Not disclosed in available documents; however, standalone finance costs were INR 0.33 Cr in H1 FY26, and the company targets becoming debt-free within 3 years.

⚙️ Operational Drivers

Raw Materials

Not specifically named in documents; typically includes copper, steel, and electrical components for switchgear manufacturing.

Capacity Expansion

Not disclosed in units; however, the 3-year strategic plan (FY 2026-2028) focuses on doubling organic revenues and expanding into new export markets.

Raw Material Costs

Cost of materials consumed for H1 FY26 was INR 2.94 Cr, representing 80.9% of total standalone income. This is a significant increase in cost intensity compared to H1 FY25 where material costs were INR 2.94 Cr against a higher revenue base.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

The company plans to achieve a CAGR of over 20% by doubling organic revenues from FY25 levels, expanding into 1-2 identified export markets, and pursuing 1-2 technology-based acquisitions that fit the group's future potential.

Products & Services

Switchgear and protection engineering equipment for electrical transmission and distribution of power.

Brand Portfolio

S&S Power, Acrastyle, Hamilton Research.

New Products/Services

Not disclosed in specific product names, but the company is investing 1.0-1.25% of revenue into R&D for innovation and product development.

Market Expansion

Targeting 1-2 specific export markets with dedicated resources and identified steps as part of the FY 2026-2028 strategic plan.

🌍 External Factors

Industry Trends

The industry is focused on the modernization of power transmission and distribution (T&D) networks. S&S Power is positioning itself through a 3-year roadmap focused on operational excellence and technology-led growth.

Competitive Landscape

Faces competition from both domestic and international players in the electrical equipment sector.

Competitive Moat

The company possesses a 60-year legacy (Since 1962) in switchgear engineering and established brands like Acrastyle, which provide a competitive advantage in specialized protection engineering.

Macro Economic Sensitivity

Sensitive to economic growth in India and abroad, as power infrastructure demand is linked to industrial and GDP growth.

Geopolitical Risks

Risks include managing international operations and navigating government policies and regulations in different jurisdictions.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI (LODR) Regulations. The company was fined INR 3,28,040 (INR 0.03 Cr) by BSE and NSE for non-compliance with Regulation 19 regarding the composition of the Nomination and Remuneration Committee.

Environmental Compliance

The company is implementing robust processes for Environment, Health, and Safety (EHS) and Compliance as part of its FY28 KPIs.

Legal Contingencies

Key Audit Matter identified regarding the impairment testing of investments in subsidiaries and loans granted, involving subjective management estimates and judgments.