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Surana Solar Limited (SURANASOL) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Surana Solar Limited ₹4.28, price ₹24.15, upside -82.3%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · IN · ISIN INE272L01022

SS Thin data Sep 27, 2026

Surana Solar Limited

SURANASOL · NSE

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹4.28 · Strongly overvalued (−82.3%)
!Quality 47/100
!Weak Growth (revenue 5y −5.7 %/yr)
!Thin margins · 6.0% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (5/9)
!Narrow moat 14/100
!Evidence only low, so the estimate is less certain
!Weak on past: 9 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹65.38 ₹11.55 Fair Value ₹4.28 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹11.55 – ₹65.38 · fair‑value band ₹3.21 – ₹5.35 · the ₹24.15 price screens above the ₹4.28 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Surana Solar Limited manufactures and sells solar panels and solar photovoltaic (PV) modules under the Surana Solar brand in India and internationally. It operates through Renewable Energy and Trading & Others segments.

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Surana Solar Limited manufactures and sells solar panels and solar photovoltaic (PV) modules under the Surana Solar brand in India and internationally. It operates through Renewable Energy and Trading & Others segments. The company engages in generation of wind and solar power energy; trading of other solar related products; and infrastructure leasing activities. It also provides engineering, procurement, and construction services for power projects on turnkey basis; solar lighting products, including home lighting systems and solar street lighting products; and solar lanterns for use in street, industrial site, travelling, and house and garden application. In addition, the company operates manufacturing unit at cherlapally with installed capacity of 40 MW and the fabcity with installed capacity of 20 mw for manufacture of solar photovoltaic modules. The company was formerly known as Surana Ventures Limited. Surana Solar Limited was incorporated in 2006 and is based in Hyderabad, India.

Stock analysis

Surana Solar Limited (SURANASOL) currently trades at ₹24.15, while our model-based Fair Value estimate is ₹4.28, 82.3% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Economic Profit group reads highest at a median of ₹7.98 per share, and 0 of the 7 models we run sit above the ₹24.15 price.

Bear case: the Earnings-Based group reads lowest at ₹2.09, and 7 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹3.21 (bear) to ₹5.35 (bull), the price of ₹24.15 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Surana Solar Limited reported revenue of ₹208M in FY2026 versus ₹248M in FY2022, a compound −4.3%/yr. Reported net income was ₹12.4M in FY2026, compounding +10.0%/yr from FY2022.

Key figures

Market cap ₹1.3B (≈ $13.9M) · P/E ratio 603.8 · P/S ratio 35.9 · EPS (TTM) ₹0.0400 · Net margin 6.0% · Return on equity 2.2% · Return on assets (EBIT) −1.9% · Operating margin −3.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 9% fair-value upside, at −82%, SURANASOL screens richer than that median.

Fair Value models

Bear ₹3.21 Fair Value ₹4.28 Bull ₹5.35
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0203 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income ₹8.23 ₹7.98 ₹7.93 71
Graham-Dodd ₹1.71 ₹2.09 ₹2.36 67
Growth-Adj P/E ₹3.70 ₹5.29 ₹6.87 67
All 7 models by family
Earnings-Based
Graham-Dodd ₹1.71 ₹2.09 ₹2.36 67
Multiples
P/E Multiple ₹5.29 ₹7.05 ₹8.82 63
P/S Multiple ₹3.21 ₹4.28 ₹5.35 58
P/B Multiple ₹3.21 ₹4.28 ₹5.35 55
Asset-Based
NCAV (Graham) ₹5.84 ₹7.82 ₹11.68 54
Economic Profit
Residual Income ₹8.23 ₹7.98 ₹7.93 71
Growth Earnings
Growth-Adj P/E ₹3.70 ₹5.29 ₹6.87 67

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Quality Score breakdown

Overall quality 47/100

Of which business quality 51 · Market factors (momentum, volatility) 38

Profitability 19
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 90
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 8/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−46.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−21.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−5.7%
Start year 2021 (pandemic). Over 10 years: −15.9% a year
Revenue growth 16 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.1%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+15.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.8%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.8% vs −5.3%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → −25%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 16.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

SURANASOL screens overvalued: fair value 82% below the price. Compare with First Solar, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Solar · 104 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Above median
Fair Value upside −82.3% · Bottom 25%
Profitability
Return on equity (TTM) 2.2% · Above median
Return on assets −5.1% · Bottom 25%
Net margin (TTM) 6.0% · Above median
Operating margin (TTM) −3.5% · Below median
Growth and dividend
Revenue growth 440.2% · Top 25%

Valuation Multiplesvs Solar median · lower = cheaper

P/E (TTM) 603.8× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 6
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)9 · sector 0
HEALTH (low debt)100 · sector 82
DIVIDEND (yield)0 · sector 27

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $176.93 $392.06 +122%
Nextpower Inc NXT $80.85 $88.94 +10%
Tongwei Co 600438 ¥11.12 ¥12.13 +9%
Waaree Energies Limited WAAREEENER ₹2,495 ₹2,709 +9%
Jinko Solar Co 688223 ¥3.75 ¥6.49 +73%
Hengdian Group 002056 ¥20.04 ¥31.86 +59%
Hanwha Solutions Corporation 009830 29,200 KRW 9,611 KRW −67%
CSI Solar Co 688472 ¥8.32 ¥4.88 −41%
Enphase Energy, Inc ENPH $30.91 $24.08 −22%
Premier Energies Limited PREMIERENE ₹896.40 ₹648.72 −28%

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Surana Solar Limited · Fair Value
₹4.28 −82%Fair Value
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Cite: Fair Value Calculator (2026). "Surana Solar Limited Fair Value". https://www.fairvalue-calculator.com/stock/SURANASOL

Frequently asked questions

Is Surana Solar Limited (SURANASOL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹4.28 versus a price of ₹24.15, about −82% upside (overvalued).
What is the fair value of SURANASOL?
Our model-based fair value for Surana Solar Limited is ₹4.28 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹24.15.
What is the quality score of SURANASOL?
Surana Solar Limited has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Surana Solar Limited (SURANASOL)?
Our model-based price target is the fair value of ₹4.28 (as of Sep 27, 2026) from 7 valuation models. Cautious scenario ₹3.21, optimistic scenario ₹5.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Surana Solar Limited stock forecast for 2026?
Our models put fair value at ₹4.28, about −82% upside versus a price of ₹24.15 (overvalued). Cautious scenario ₹3.21, optimistic scenario ₹5.35. The calculation is refreshed regularly with new filings.
What is the revenue of Surana Solar Limited (SURANASOL)?
Surana Solar Limited reported trailing-twelve-month revenue of about ₹208M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Surana Solar Limited (SURANASOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surana Solar Limited it is ₹4.28 per share (as of Sep 27, 2026), against a price of ₹24.15. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Surana Solar Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, SURANASOL trades above its calculated fair value: price ₹24.15, fair value ₹4.28, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SURANASOL?
No. The price is what the market pays today (₹24.15); the fair value is what the company's own numbers justify (₹4.28). For Surana Solar Limited the two are ₹19.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Surana Solar Limited worth?
The market values Surana Solar Limited at about ₹1.3B (market capitalisation, as of Sep 27, 2026). Per share that is ₹24.15; our models calculate a fair value of ₹4.28 per share.
What do the bullish and bearish scenarios say about SURANASOL?
Our models span a range for Surana Solar Limited: cautious scenario ₹3.21, base ₹4.28, optimistic ₹5.35 per share (as of Sep 27, 2026, price ₹24.15). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Surana Solar Limited (SURANASOL)?
Balance-sheet figures for Surana Solar Limited (as of Sep 27, 2026): return on equity 2.2%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is SURANASOL from its 52-week high?
Surana Solar Limited trades at ₹24.15, about 28% below its 52-week high of ₹33.36 and 29% above the low of ₹18.78 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.28 is for.
Which stocks are comparable to Surana Solar Limited?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Surana Solar Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹24.15, calculated fair value ₹4.28 (−82%), Quality Score 47/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SURANASOL calculated?
We run Surana Solar Limited through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹4.28, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Surana Solar Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Surana Solar Limited (SURANASOL)?
The closing price on Oct 1, 2026 was ₹24.15. Our model-based fair value is ₹4.28, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surana Solar Limited right now?
The price sits above even our optimistic bull case (₹5.35). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Surana Solar Limited

How large is the market capitalisation of Surana Solar Limited (SURANASOL)?
The market capitalisation of Surana Solar Limited is ₹1.3B (≈ $13.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Surana Solar Limited (SURANASOL)?
The price-to-earnings ratio of Surana Solar Limited is 603.8. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Surana Solar Limited (SURANASOL)?
The price-to-sales ratio of Surana Solar Limited is 35.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Surana Solar Limited (SURANASOL)?
Earnings per share at Surana Solar Limited are ₹0.0400 (price ÷ EPS = P/E 603.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Surana Solar Limited (SURANASOL)?
The net margin of Surana Solar Limited is 6.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Surana Solar Limited (SURANASOL)?
The return on equity (ROE) of Surana Solar Limited is 2.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Surana Solar Limited (SURANASOL)?
On an EBIT basis the return on assets of Surana Solar Limited is −1.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Surana Solar Limited (SURANASOL)?
The operating margin of Surana Solar Limited is −3.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Surana Solar Limited (SURANASOL)?
Revenue at Surana Solar Limited is growing +440% versus a year earlier (3y avg −21.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Surana Solar Limited (SURANASOL)?
Earnings per share at Surana Solar Limited are growing +6.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Surana Solar Limited (SURANASOL) generate?
The free cash flow of Surana Solar Limited is −₹61.6M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Surana Solar Limited (SURANASOL) hold?
Surana Solar Limited holds more cash than debt, ₹18.9M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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