---
title: "Shri Ram Switchgears Ltd (SRIRAM) — Share Price, Financials & Analysis"
symbol: "SRIRAM"
company: "Shri Ram Switchgears Ltd"
canonical: "https://tapetide.com/stocks/SRIRAM"
isin: "INE634W01012"
nse_symbol: "SRIRAM"
sector: "Industrials"
industry: "Industrial Manufacturing"
generated_at: "2026-09-13T19:24:50.492Z"
---

# Shri Ram Switchgears Ltd (SRIRAM)

Canonical page: https://tapetide.com/stocks/SRIRAM

## Company

- **NSE Symbol:** SRIRAM
- **ISIN:** INE634W01012
- **Sector:** Industrials
- **Industry:** Industrial Manufacturing
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2017-06-07
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** shriramswitchgears.com

## About

Incorporated in 1985, Shri Ram Switchgears Ltd does engineering and manufacturing of Electrical Products[1]

## Latest Price

- **Price:** ₹10.1
- **Change:** 0 (0%)
- **Open:** ₹0
- **Day High:** ₹10.1
- **Day Low:** ₹10.1
- **Previous Close:** ₹10.1
- **Volume:** 0
- **As Of:** 2023-06-30T04:29:59+00:00

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -45.4% over past five years.
- Company has high debtors of 3,920 days.
- Working capital days have increased from 2,176 days to 3,539 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 80% | -9% | — |
| revenue growth | -50% | -51% | -45% |

## Financial Statements

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 38.89 | 52.89 | 45.37 | 68.38 | 51.12 | 26.81 | 20.76 | 7.83 | 4.02 | 2.47 |
| Expenses | 35.78 | 48.8 | 41.76 | 57.79 | 39.9 | 19.18 | 17.97 | 17.39 | 17.26 | 4.05 |
| Operating Profit | 3.11 | 4.09 | 3.61 | 10.59 | 11.22 | 7.63 | 2.79 | -9.56 | -13.24 | -1.58 |
| OPM % | 8 | 7.73 | 7.96 | 15.49 | 21.95 | 28.46 | 13.44 | -122.09 | -329.35 | -63.97 |
| Other Income | 0.33 | 1.51 | 2.68 | 0.68 | 0.59 | 0.76 | 0.58 | 0.21 | 0.25 | 0.35 |
| Interest | 2.67 | 3.5 | 3.98 | 7.14 | 7.63 | 7.05 | 5.86 | 6.78 | 3.51 | 2.3 |
| Depreciation | 0.16 | 0.27 | 1.03 | 0.85 | 0.72 | 0.57 | 0.49 | 0.4 | 0.32 | 0.27 |
| Profit before tax | 0.61 | 1.83 | 1.28 | 3.28 | 3.46 | 0.77 | -2.98 | -16.53 | -16.82 | -3.8 |
| Tax % | 31.15 | 33.88 | 32.81 | 35.67 | 34.97 | -1.3 | -0.34 | 1.69 | 0 | 1.84 |
| Net Profit | 0.42 | 1.21 | 0.85 | 2.11 | 2.25 | 0.77 | -2.97 | -16.81 | -16.83 | -3.87 |
| EPS in Rs | 1.26 | 2.48 | 1.74 | 2.87 | 2.25 | 0.77 | -2.97 | -16.79 | -16.81 | -3.87 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3.34 | 4.88 | 4.89 | 7.34 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 | 10.01 |
| Reserves | 1.96 | 3.68 | 4.27 | 3.82 | 8.47 | 9.25 | 6.27 | -10.54 | -27.37 | -31.23 |
| Borrowings | 19.11 | 18.87 | 31.68 | 38.39 | 36.67 | 38.65 | 43.78 | 49.18 | 55.48 | 62.72 |
| Other Liabilities | 27.47 | 34.86 | 30.18 | 32.42 | 29.52 | 31.09 | 23.88 | 18.22 | 11.95 | 12.11 |
| Total Liabilities | 51.88 | 62.29 | 71.02 | 81.97 | 84.67 | 89 | 83.94 | 66.87 | 50.07 | 53.61 |
| Fixed Assets | 1.75 | 5.79 | 4.71 | 4.12 | 3.45 | 2.88 | 2.61 | 2.21 | 1.67 | 1.4 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.03 | 0.03 | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 50.1 | 56.47 | 66.28 | 77.85 | 81.22 | 86.12 | 81.33 | 64.66 | 48.4 | 52.21 |
| Total Assets | 51.88 | 62.29 | 71.02 | 81.97 | 84.67 | 89 | 83.94 | 66.87 | 50.07 | 53.61 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.52 | 10.51 | 0.19 | 9.43 | -1.82 | 2.85 | 3.62 | -7.13 | -5.18 | -6.02 |
| Cash from Investing Activity | -0.43 | -5.2 | 1.38 | 0.06 | 0.02 | -0.01 | -0.07 | 0.1 | 0.32 | 0.09 |
| Cash from Financing Activity | 1.57 | -2.2 | -0.4 | -10.15 | 0.22 | -1.75 | -3.64 | 4.32 | 3.15 | 4.96 |
| Net Cash Flow | 0.62 | 3.11 | 1.17 | -0.66 | -1.58 | 1.09 | -0.1 | -2.72 | -1.71 | -0.96 |
| Free Cash Flow | -1.22 | 6.56 | 0.24 | 9.17 | -1.87 | 2.84 | 3.4 | -7.13 | -4.81 | -5.91 |
| CFO/OP | -10 | 270 | 20 | 94 | -5 | 59 | 137 | 75 | 39 | 381 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 110.94 | 191.78 | 280.69 | 224.94 | 321.16 | 543.35 | 587.41 | 1423.64 | 2476.92 | 3920.43 |
| Inventory Days | 296.6 | 163.9 | 201.4 | 198.61 | 320.94 | 919.48 | 877.62 | 601.64 | 336.32 | 2922.27 |
| Days Payable | 171.23 | 86.03 | 220.76 | 143.13 | 226.86 | 478.85 | 321.88 | 251.76 | 139.35 | 1201.55 |
| Cash Conversion Cycle | 236.3 | 269.65 | 261.33 | 280.42 | 415.24 | 983.98 | 1143.15 | 1773.52 | 2673.88 | 5641.14 |
| Working Capital Days | 280.81 | 106.48 | 162.19 | 114.18 | 230.05 | 498.42 | 639.63 | 1545.31 | 1444.56 | 3539.17 |
| ROCE % | 14.85 | 20.56 | 15.12 | 22.79 | 21.18 | 13.8 | 4.53 | -17.94 | -31.05 | -4.07 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 5 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 9.78 | Buy |
| EMA (10) | 9.71 | Buy |
| SMA (20) | 8.17 | Buy |
| EMA (20) | 8.74 | Buy |
| SMA (50) | 7.3 | Buy |
| EMA (50) | 7.99 | Buy |
| SMA (100) | 8.16 | Buy |
| EMA (100) | 8.66 | Buy |
| SMA (200) | 11.11 | Sell |
| EMA (200) | 10.65 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 69.41 | Neutral |
| MACD (12,26,9) | 1.07 | Buy |
| Stochastic (14,3,3) | 88.77 | Sell |
| ADX (14) | 50.17 | Buy |
| Williams %R (14) | -22.11 | Neutral |
| ATR (14) | 0.4 | High Volatility |
| ROC (12) | 41.26 | Buy |
| Stoch RSI (14) | 37.56 | Neutral |
| UO (7,14,28) | 68.87 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - AGM notice dispatched; AGM scheduled for September 30, 2026 at 1:00 P.M. in Ratlam. | [Press Release 9 Sep - AGM notice dispatched; AGM scheduled for September 30, 2026 at 1:00 P.M. in Ratlam.](https://nsearchives.nseindia.com/corporate/SRIRAM_09092026174915_Covering_Letter.pdf) |
| 8 Sep - FY26 audited results approved; five directors appointed; NCLT plan cancels promoter shares, allots 4.75 lakh shares. | [Outcome of Board Meeting 8 Sep - FY26 audited results approved; five directors appointed; NCLT plan cancels promoter shares, allots 4.75 lakh shares.](https://nsearchives.nseindia.com/corporate/SRIRAM_08092026141946_Disclosure.pdf) |
| 8 Sep - Annual Report FY 2025-26 and 40th AGM notice made available online to shareholders. | [Updates 8 Sep - Annual Report FY 2025-26 and 40th AGM notice made available online to shareholders.](https://nsearchives.nseindia.com/corporate/SRIRAM_08092026161902_SE_Disclosure_Reg36_2025-26_signed.pdf) |
| 7 Sep - Board approved FY26 audited results, four director appointments, and NCLT-led share capital restructuring on 16 September 2026. | [Outcome of Board Meeting 7 Sep - Board approved FY26 audited results, four director appointments, and NCLT-led share capital restructuring on 16 September 2026.](https://nsearchives.nseindia.com/corporate/SRIRAM_07092026204654_Disclosure.pdf) |
| 7 Sep - Board approved FY26 audited results, four director appointments, and NCLT plan-driven share cancellation/allotment with Sept 16 record date. | [Appointment 7 Sep - Board approved FY26 audited results, four director appointments, and NCLT plan-driven share cancellation/allotment with Sept 16 record date.](https://nsearchives.nseindia.com/corporate/SRIRAM_07092026185609_Disclosure.pdf) |
| 7 Sep - Board approved FY26 audited results, director appointments, and NCLT resolution plan share capital restructuring on 16 Sept 2026 record date. | [Outcome of Board Meeting 7 Sep - Board approved FY26 audited results, director appointments, and NCLT resolution plan share capital restructuring on 16 Sept 2026 record date.](https://nsearchives.nseindia.com/corporate/SRIRAM_07092026205640_Disclosure.pdf) |
| 7 Sep - Audited FY26 results approved; NCLT resolution plan implemented, with share cancellation, allotment, promoter reclassification, and record date set. | [Appointment 7 Sep - Audited FY26 results approved; NCLT resolution plan implemented, with share cancellation, allotment, promoter reclassification, and record date set.](https://nsearchives.nseindia.com/corporate/SRIRAM_07092026185722_Disclosure.pdf) |
| 7 Sep - Audited FY26 results approved; NCLT plan restructures capital, appoints four directors, record date 16 Sep 2026. | [General Updates 7 Sep - Audited FY26 results approved; NCLT plan restructures capital, appoints four directors, record date 16 Sep 2026.](https://nsearchives.nseindia.com/corporate/SRIRAM_07092026194352_Disclosure.pdf) |
| 7 November 2023 - Register of Members & Share Transfer Books of the Company will remain closed from 25-Nov-2023 to 30-Nov-2023 for the purpose of Meeting. | [Book Closure 7 November 2023 - Register of Members & Share Transfer Books of the Company will remain closed from 25-Nov-2023 to 30-Nov-2023 for the purpose of Meeting.](https://nsearchives.nseindia.com/corporate/SRIRAM_07112023164147_Book_Closure_Letter.pdf) |
| 5 Sep - Monitoring Committee meeting postponed to 7 September 2026 to approve FY2026 audited financial results. | [Updates 5 Sep - Monitoring Committee meeting postponed to 7 September 2026 to approve FY2026 audited financial results.](https://nsearchives.nseindia.com/corporate/SRIRAM_05092026201222_Adjournment_of_Meeting.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31865_SRIRAM_2025_2026_A_11592411_08092026160824.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30040_SRIRAM_2024_2025_A_10189496_28072026190313.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30039_SRIRAM_2023_2024_A_6273820_28072026184943.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23960_SRIRAM_2022_2023_07112023162808_11072023170001.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21726_SRIRAM_2021_2022_08092022181240_09082022190027.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19698_SRIRAM_2020_2021_08092021130044_09082021140003.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17360_SRIRAM_2019_2020_05092020135010_05092020140002.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16068_SRIRAM_2018_2019_27092019124908_27092019130008.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13818_SRIRAM_2017_2018_29092018174250.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/SME_AR_12265_SRIRAM_2016_2017_21102017135605.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:24:50.492Z.