🔍

S&SPOWER - S & S Power Swit

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

📢 Recent Corporate Announcements

S&S Power Switchgears Appoints KFin Technologies as New Registrar and Share Transfer Agent

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 07:27 PM

S&S Power Switchgears Limited has announced the appointment of KFin Technologies Limited as its new Registrar and Share Transfer Agent (RTA) as of March 5, 2026. This administrative move is intended to strengthen the company's investor services function. KFin Technologies, a major SEBI-registered entity, will replace the current agent, GNSA Infotech Private Limited. The transition of electronic connectivity and data is currently in progress, and the effective date of the change will be announced following a tripartite agreement.

Board approved KFin Technologies Limited (SEBI Reg No: INR000000221) as the new RTA.
The change aims to enhance the efficiency and quality of investor services.
GNSA Infotech Private Limited will continue to serve as RTA until the transition is finalized.
A tripartite agreement will be executed between the company and both the outgoing and incoming RTAs.

💡 This is a routine administrative update and requires no immediate action from shareholders. Investors should wait for the formal notification of the effective date for future share-related correspondence.

S&S Power Switchgears Appoints KFin Technologies as New Registrar and Share Transfer Agent

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 05:04 PM

S&S Power Switchgears Limited has announced the appointment of KFin Technologies Limited as its new Registrar and Share Transfer Agent (RTA). The Board of Directors approved this change on March 5, 2026, to strengthen the company's investor services function. KFin Technologies will replace the existing agent, GNSA Infotech Private Limited, following the completion of data transition and a tripartite agreement. Until the formal effective date is announced, GNSA Infotech will continue to manage RTA responsibilities.

Board approved KFin Technologies Limited (SEBI Reg No: INR000000221) as the new RTA on March 5, 2026.
The transition from current RTA GNSA Infotech Private Limited is aimed at enhancing investor service quality.
A tripartite agreement will be executed between the company and both RTAs to facilitate electronic connectivity shifting.
GNSA Infotech will remain the active RTA until the transition formalities and effective date are finalized.

💡 This is a routine administrative update and requires no immediate action from shareholders. Investors should update their records for future share-related queries once the effective date is notified.

S&S Power Targets Doubling Revenue by FY28; Order Book Hits Record ₹300 Cr

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 11 Feb 2026, 06:09 PM

S&S Power Switchgears has announced a 3-year strategic roadmap (FY 2026-2028) aiming to double organic revenues and achieve EBITDA margins of 12-15%. The company reported a record order intake of over ₹300 Crores in FY 25, marking a 67% YoY growth, despite temporary margin pressure from one-time operational streamlining costs. Key milestones include a patent for 800kV Disconnectors and securing the largest-ever international order for its subsidiary HART from Egypt. The group plans to invest 1.0-1.25% of revenue into R&D and implement SAP across all facilities to drive a projected 20% CAGR.

Record order intake of over ₹300 Crores in FY 25, representing a 67% year-on-year growth.
Strategic goal to double organic revenue by FY 2028 with a targeted 20% CAGR.
Acrastyle UK subsidiary reported 30% YoY revenue growth with a robust order book of ~₹180 Crores.
SSPSE unit secured a patent for 800kV Disconnectors and maintains an order book of ~₹80 Crores.
Commitment to invest 1.0-1.25% of revenue in R&D and achieve 12-15% EBITDA margins by FY 2028.

💡 Investors should focus on the company's ability to translate its record ₹300 Cr order book into bottom-line growth as one-time restructuring costs phase out. Monitor the successful commercialization of the 765kV and 800kV products as key indicators of technological leadership.

S&S Power Q3 FY26 Revenue Jumps 104% to ₹80.3 Cr; EBIDA Turns Positive at ₹5.9 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 10:46 AM

S&S Power Switchgears reported a strong turnaround in Q3 FY26, with revenue doubling to ₹80.30 crore from ₹39.30 crore YoY. The company flipped from an EBIDA loss of ₹2.00 crore to a profit of ₹5.90 crore, reflecting significantly improved operational efficiency. EPS for the quarter stood at ₹2.84 compared to a loss of ₹4.28 in the previous year. Despite a lower quarterly order intake of ₹50.50 crore, the cumulative YTD order book remains healthy at ₹245.30 crore, supporting future revenue visibility.

Revenue surged 104% YoY to ₹80.30 crore in Q3 FY26 compared to ₹39.30 crore in Q3 FY25.
EBIDA turned positive at ₹5.90 crore against a loss of ₹2.00 crore in the same quarter last year.
Year-to-date (YTD) FY26 revenue reached ₹201.80 crore, a 54% increase over YTD FY25.
Cumulative order book stands at a robust ₹245.30 crore as of December 31, 2025.
Quarterly EPS improved to ₹2.84 from a negative ₹4.28 in the year-ago period.

💡 Investors should note the successful operational turnaround and positive swing in profitability; continued monitoring of order book growth and execution is advised to confirm long-term sustainability.

S&S Power Q3 Standalone Loss Widens to ₹1.31 Cr; Subsidiaries Post ₹6.01 Cr Profit

🔵 WATCH ⭐ 7/10

EARNINGS 📅 10 Feb 2026, 07:43 PM

S&S Power Switchgears reported a standalone net loss of ₹130.97 Lakhs for Q3 FY26, widening from a loss of ₹87.10 Lakhs in the previous year. While standalone revenue grew 41.5% YoY to ₹131.49 Lakhs, it was weighed down by a significant rise in employee costs, including ₹83.30 Lakhs in non-cash ESOP amortization. However, the consolidated picture is stronger, with subsidiaries contributing a profit of ₹601.54 Lakhs on revenue of ₹5,827.04 Lakhs for the quarter. The company continues to navigate high finance costs of ₹59.81 Lakhs at the standalone level.

Standalone total income increased to ₹131.49 Lakhs in Q3 FY26 from ₹92.91 Lakhs in Q3 FY25.
Standalone net loss widened to ₹130.97 Lakhs, impacted by ₹83.30 Lakhs in ESOP amortization costs.
Subsidiaries reported robust quarterly revenue of ₹5,827.04 Lakhs and a profit after tax of ₹601.54 Lakhs.
Nine-month consolidated profit for subsidiaries reached ₹820.88 Lakhs as of December 31, 2025.
Finance costs remained high at ₹59.81 Lakhs for the quarter, representing a significant portion of standalone expenses.

💡 Investors should look past the standalone losses and focus on the consolidated performance, as the core business operations in subsidiaries are profitable. Monitor the company's ability to manage standalone debt and finance costs which continue to impact the bottom line.

S&S Power Switchgears Submits SEBI Regulation 74(5) Compliance for Q3 FY2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 12:07 PM

S&S Power Switchgears Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing, issued by Registrar and Share Transfer Agent GNSA Infotech Private Limited, covers the quarter ended December 31, 2025. A total of 146 physical share certificates, representing 4,990 equity shares, were processed for dematerialization during this period. The company confirmed that these certificates were verified, cancelled, and the depository's name was substituted in the records.

Compliance certificate submitted for the quarter ended December 31, 2025
Processed 146 physical share certificates for dematerialization
Total of 4,990 equity shares were converted from physical to electronic form
RTA confirmed all certificates were mutilated and cancelled after due verification

💡 This is a routine regulatory filing regarding the dematerialization of shares and has no impact on the company's business fundamentals. No action is required from investors.

S&S Power Targets 2x Revenue by FY28; Q2 FY26 New Orders Surge to ₹102.5 Crore

🔵 WATCH ⭐ 7/10

EXPANSION 📅 02 Jan 2026, 04:05 PM

S&S Power Switchgears has announced a 3-year strategic roadmap (FY26-28) aiming for 20% CAGR revenue growth and 12-15% EBITDA margins. For Q2 FY26, the company reported a revenue increase to ₹61.07 crore and a strong order inflow of ₹102.53 crore, up from ₹82 crore YoY. While EBITDA turned negative at -₹1.97 crore due to product mix and one-time costs, the company maintains a positive EPS of 2.38 and a robust total order book exceeding ₹270 crore. Significant expansion is underway in the UK unit to increase capacity by 70% by 2027.

Targeting 2x organic revenue growth and 12-15% EBITDA margins by FY2028 with a focus on becoming debt-free.
New orders grew 25% YoY to ₹102.53 crore in Q2 FY26, led by strong domestic and global demand.
Acrastyle UK unit capacity expansion approved to increase output by 30% in 2026 and 70% total by 2027.
Secured a major $3.5 million international order from Egypt Aluminium, marking entry into a select global technology club.
Q2 FY26 revenue rose to ₹61.07 crore from ₹55.38 crore YoY, though EBITDA was temporarily impacted by one-time effects.

💡 Investors should monitor the company's progress in restoring EBITDA margins in Q3 as projected by management. The strong order book and capacity expansion plans suggest long-term growth potential, but the current volatility in operational profitability requires a cautious watch.

S&S Power Switchgears to Close Trading Window from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Dec 2025, 02:15 PM

S&S Power Switchgears Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. The closure is intended for the preparation and declaration of the unaudited standalone and consolidated financial results for the quarter ending December 31, 2025. The window will remain closed for all directors and designated persons until 48 hours after the results are made public. This is a standard regulatory procedure followed by listed companies prior to earnings announcements.

Trading window closure begins on January 1, 2026.
Closure pertains to the financial results for the quarter ending December 31, 2025.
Window to reopen 48 hours after the official declaration of financial results.
Restriction applies to all Directors, Designated Persons, and Connected Persons.

💡 This is a routine regulatory announcement with no direct impact on the company's valuation. Investors should monitor for the upcoming announcement of the quarterly results date.

S&S Power Clarifies Significant Share Price Movement as Market Driven

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Dec 2025, 12:31 PM

S&S Power Switchgears Limited has responded to a clarification request from BSE and NSE regarding recent significant movements in its share price. The company officially stated that it is in full compliance with SEBI (LODR) Regulations, 2015, and has disclosed all material information. Management confirmed there is no undisclosed price-sensitive information or impending corporate actions that would affect the stock's performance. Consequently, the company attributes the recent price volatility entirely to market-driven factors beyond its control.

Responded to stock exchange queries dated December 12, 2025, regarding price volatility
Confirmed no undisclosed or price-sensitive information is pending announcement
Stated that all price and volume behavior is purely market driven
Reiterated commitment to prompt future disclosures under SEBI (LODR) Regulations

💡 As the company has confirmed no new fundamental developments, investors should be cautious of speculative price movements. Decisions should be based on existing financial performance rather than recent price volatility.

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.