Sugs LloydShare price, financial results, shareholding and management
- Market cap
- ₹606 cr
- Stock P/E
- 21.1peers 25.9
- Book value
- ₹59.9
- Price to book
- 4.36
- EV / operating profit
- -
- Market cap to sales
- 2.02
- ROCE · FY26
- 28.5%
- ROE · FY26
- 32.4%
- ROE, 3-year average
- 49.9%
- Operating margin · FY26
- 14.0%peers 14.5%
- Sales growth, 3 years
- 102.9%
- Profit growth, 3 years
- 143.0%
- Debt to equity
- 0.50peers 0.36
- Borrowings
- ₹69 cr
- Interest cover
- 6.5×
- Cash from business / op. profit
- -84%
- Debtor days
- 193
- Pledged
- 0.00%
- Promoter holding
- 70.54%
- Change in promoter holding
- +0.26 pts
- Shareholders
- 1,551
- 52-week high / low
- ₹297 / ₹83
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Sugs Lloyd share price chart
Close on 6 Nov 2026 · +0.08% on the day · Vol 19,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -6.1%
- 3 months
- +54.2%
- 6 months
- +93.4%
- 1 year
- +165.5%
- Traded a day, 20 days
- ₹0.86 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +72% | +69% |
| 3 years, a year | +103% | +143% |
About Sugs Lloyd: business, products and customers
Sugs Lloyd builds and upgrades electricity lines, substations and solar plants for state power companies and other government bodies, and makes a small device that shows power companies where a line has failed. Its shares trade on BSE SME.
Sugs Lloyd, based in Noida, earns most of its money as a contractor: it wins public tenders to strengthen power distribution networks under central schemes such as RDSS, to build rooftop and ground mounted solar plants, and to put up civil buildings for power utilities. A newer line is smart grid control work, led by a large SCADA project with Konkan Railway Corporation that the company says it won against bigger players. It also designs its own fault passage indicators, auto reclosers and sectionalisers, which help power companies find and isolate faults, and it is developing a compact indicator, vacuum circuit breakers and ring main units.
As a contractor it purchases panels, inverters, transformers and cables from outside suppliers, subcontracts fabrication and hires most heavy machinery, so revenue carries the full cost of that equipment and margins are contractor margins rather than maker margins. It owns very few fixed assets, but money gets tied up in unpaid bills because government customers pay slowly and much of the billing falls in the last quarter of the year. Where it lacks the size to qualify for a tender, it bids through a joint venture or takes the work back to back from a partner, as with its September 2026 Punjab order.
Read more about the business
Its solar work is moving from plain construction contracts to RESCO terms, where the company builds a plant and then earns a service fee for ten years. That lowers revenue booked at the start, as the company says happened in the June 2026 quarter, but adds a steady stream later; the first such contract came from Bihar in 2026.
The offer document names Rulka Electricals and Ganesh Green Energy as its listed peers, both contractors for electrical and solar projects. The company says it has started looking at work in Africa and plans to enter power transmission and battery storage, where it had stepped back once before when prices were unsettled.
From the offer document (prospectus dated 3 September 2025), the annual report for FY26, the July 2026 investor presentation and earnings call, and the company's press releases of September 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 103% a year over three years.
- It earns a high return on the money it uses: ROCE 29% in FY26.
- The promoters own a large part of the company: 70.54%.
To watch
- The Patna smart grid project moving into bulk billing, which management says should ease working capital (Earnings call, 31 July 2026, p.4).
- Receivables, which the company has made a main priority to bring down from about ₹159 cr at March 2026 (Annual report FY26, p.18).
- Delivery of the ₹213.5 cr Punjab RDSS subcontract within 15 months of 21 September 2026 (Press release, 22 September 2026, p.2).
- A first transmission order and the launch of the compact fault passage indicator, both promised in FY27 (Earnings call, 31 July 2026, p.7 and p.14).
- Customers take longer to pay than before: 193 days in FY26, against 62 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Sugs Lloyd revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew roughly in step with sales.
SME companies report every six months.
Sugs Lloyd half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 123.03 | 177.69 |
| Expenses | 104.16 | · |
| Operating profit | 18.88 | · |
| OPM | 15.3% | · |
| Interest | 3.90 | · |
| Depreciation | 0.19 | · |
| Profit before tax | 15.90 | 22.78 |
| Net profit | 11.82 | 16.88 |
Sugs Lloyd profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 21 | 23 | 36 | 65 | 175 | 300.73 |
| Expenses | 19 | 20 | 33 | 56 | 149 | 256.73 |
| Operating profit | 2 | 3 | 3 | 9 | 26 | 44 |
| OPM | 8.0% | 14.0% | 8.0% | 14.0% | 15.0% | 14.0% |
| Other income | 1 | 1 | 1 | 5 | 2 | 3 |
| Interest | 0 | 0 | 0 | 1 | 4 | 7 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional and other items | -1 | -1 | -1 | 1 | -1 | -1.32 |
| Profit before tax | 2 | 3 | 3 | 14 | 23 | 38.68 |
| Tax rate | 0.0% | 33.3% | 33.3% | 28.6% | 26.1% | 25.8% |
| Net profit | 2 | 2 | 2 | 10 | 17 | 28.69 |
| EPS ₹ | 63.60 | 88 | 7.05 | 10.75 | 10.33 | 12.41 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Sugs Lloyd profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 8.0% | 14.0% | 8.0% | 14.0% | 15.0% | 14.0% |
| Tax rate | 0.0% | 33.3% | 33.3% | 28.6% | 26.1% | 25.8% |
| ROCE | · | 57.1% | 23.8% | 50.0% | 35.1% | 28.5% |
| ROE | · | 38.1% | 23.2% | 60.6% | 56.7% | 32.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Sugs Lloyd debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Sugs Lloyd balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.25 | 0.25 | 3 | 10 | 16 | 23 |
| Reserves | 4 | 6 | 8 | 12 | 22 | 116 |
| Net worth | 4.25 | 6.25 | 11 | 22 | 38 | 139 |
| Borrowings | 0 | 0 | 8 | 19 | 75 | 69 |
| Other liabilities | 15.75 | 15.75 | 6 | 7 | 20 | 64 |
| Total liabilities | 20 | 22 | 25 | 48 | 133 | 272 |
| Fixed assets | 0 | 0 | 0 | 1 | 1 | 1 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 2 | 2 | 2 |
| Other assets | 20 | 22 | 25 | 45 | 130 | 269 |
Sugs Lloyd cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | · | -4 | -10 | -4 | -44 | -37 |
| Cash from investing | · | 3 | 0 | -4 | -9 | -21 |
| Cash from financing | · | 0 | 11 | 9 | 52 | 58 |
| Net cash flow | · | -1 | 1 | 1 | -1 | 0 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 62 | 145 | 99 | 138 | 185 | 193 |
| Inventory days | 0 | 0 | 0 | 0 | 29 | 20 |
| Days payable | · | · | · | · | 32 | 106 |
| Cash conversion cycle | 62 | 145 | 99 | 138 | 182 | 108 |
| Working capital days | -35 | -104 | -23 | 6 | 22 | 109 |
Sugs Lloyd peers and competitors
Listed SME companies in the same industryBy sales, Sugs Lloyd is number 11 of the 34 listed SME companies in electrical equipment.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Sahaj Solar | 197 | 6.6 | 419 | 29.6 | 12.4% | 1.27 |
| GP Eco Solutions India | 506 | 11.8 | 414 | 43 | 14.0% | 0.99 |
| Raksan Transformers | 578 | 17.0 | 363 | 34 | 13.0% | 0.27 |
| INDO SMC | 1,183 | 37.0 | 310 | 32 | 15.0% | 0.31 |
| Sugs Lloyd | 606 | 21.1 | 301 | 28.7 | 14.0% | 0.50 |
| Smarten Power Systems | 111 | 12.6 | 243 | 8.8 | 4.9% | 0.07 |
| Yash Highvoltage | 3,671 | 99.2 | 235 | 37 | 24.0% | 0.21 |
| Vivid Electromech | 1,510 | 47.2 | 200 | 32 | 23.0% | 0.45 |
| Parth Electricals & Engineering | 802 | 56.4 | 198 | 14.2 | 10.5% | 0.15 |
| Supreme Power Equipment | 732 | 34.9 | 182 | 21 | 18.0% | 0.42 |
| Himalayan Solar | 187 | 8.9 | 170 | 21 | 18.0% | 0.77 |
| Median of the 10 others | 655 | 26 | 239 | 30.8 | 14.5% | 0.36 |
Sugs Lloyd shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.
Sugs Lloyd shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|
| Promoters | 70.00% | 70.00% | 70.28% | 70.54% |
| Foreign investors (FIIs) | 1.05% | 1.05% | 1.02% | - |
| Indian institutions (DIIs) | 0.25% | 0.46% | 0.42% | - |
| Number of shareholders | 2,154 | 1,606 | 1,603 | 1,551 |
Sugs Lloyd study: the business from its own documents
Read from 13 of the company's own documentsSugs Lloyd so far
From the company's own record
- 22 Sept 2026Order worth ₹213 cr
- 24 Sept 2026Order worth ₹4.68 cr
- 29 Sept 2026Order worth ₹8.90 cr
- 30 June 2026Promoters at 70.54%
- 15 Sept 2026Highest close since listing, ₹289.20
Sugs Lloyd key facts from the filings
Each figure with the document it comes from
- Order book
- ₹807 cr
- Work in hand at 30 June 2026, without GST, about 2.7 times FY26 revenue.Investor presentation, July 2026, p.7; earnings call, 31 July 2026, p.11
- Largest order
- About ₹540 cr
- A SCADA project with Konkan Railway Corporation, net of taxes, the company's first large smart grid control job.Annual report FY26, p.19
- Punjab RDSS order
- ₹213.5 cr
- Awarded on 21 September 2026 by Marshal Enterprises, including GST, as back to back subcontract work for PSPCL over 15 months.Press release, 22 September 2026, p.2
- Government customers
- 93.44%
- Share of FY25 revenue from government entities.Offer document, p.38
- Largest customer
- 37.90%
- Bihar Renewable Energy Development Agency's share of FY25 revenue; the top ten customers gave 87.93%.Offer document, p.149 and p.150
Show 5 more facts
- Fault passage indicators
- Over 50%
- The company's stated share of the Indian market for these devices; FPI revenue was about ₹7 cr in FY26.Investor presentation, July 2026, p.5; earnings call, 18 May 2026, p.8
- Power network share
- 59%
- Power T&D work as a share of June 2026 quarter revenue, against 27% a year earlier, as RDSS work grew and solar moved to RESCO terms.Investor presentation, July 2026, p.9
- Money owed by customers
- ₹159 cr
- Receivables at March 2026, with collections taking about 139 days; down to ₹149 cr by June 2026.Annual report FY26, p.18; earnings call, 31 July 2026, p.8
- Borrowings
- ₹68 cr → ₹91 cr
- Rise in the June 2026 quarter to fund working capital for the Patna project; the company expects a peak near ₹130 cr in FY27.Earnings call, 31 July 2026, p.6 and p.15
- Credit rating
- CARE BBB-; Stable
- Assigned on 3 November 2025 to bank facilities of ₹125 cr, citing experienced promoters and long working capital cycles.CARE rating note, 3 November 2025, p.1 and p.2
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says its order book gives eighteen to twenty four months of work and that a further pipeline of qualified bids is under evaluation. It has repeated its aim of about ₹600 cr of revenue in FY27 and about ₹1,000 cr by FY28, while the annual report says the FY28 figure is a target that will need a much larger order book. It expects the Patna smart grid project to move into bulk billing, a first transmission order in FY27, battery storage bids in Rajasthan and Bihar, a compact fault passage indicator within a few months and vacuum circuit breakers in about a year. It says it does not plan to raise equity through FY28.
| What management said | When | What happened |
|---|---|---|
| Revenue of ₹270 cr in FY26 | FY26 guidance | ₹300.7 cr |
| Transmission to add revenue in the current year | Earlier earnings calls | No transmission order yet at the July 2026 call |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Sugs Lloyd earns a contractor's margin on government power and solar projects, with a small but higher margin product line of its own beside it.
Its weak spots are slow payment from government customers, which keeps borrowings rising with growth, and reliance on a few large orders.
WatchCan it set its own prices?Most work is won in open tenders, so price is set by the lowest bid; its own devices are the exception.
AverageHow strong is it against rivals?It holds a lead in a small device niche and a record with power utilities, but in plain contracting it is a mid sized player.
WatchWho are its customers?Nearly all customers are government bodies or large power companies, and a handful of them give most of the revenue.
WatchDoes it need a lot of money?It needs little machinery but a lot of working capital, because bills are paid months after the work.
StrongCan it keep finding new work?Central schemes for distribution and solar keep tenders coming, and the order book is well above a year of sales.
AverageDo good and bad years swing a lot?Margins have held steady as the company grew, but revenue depends on the timing of tenders, government fund releases and outdoor working seasons.
Who runs Sugs Lloyd?
Promoters, directors and officers; tap a name for the background
SKSantosh Kumar ShahPromoter, Chairman and Managing Director · holds 0.28%
Holds a BTech in mechanical and automation engineering and a Master of Laws, with about 22 years in electrical transmission and distribution. Joined the board as non executive chairperson in October 2024 and was re designated Managing Director from 12 November 2025. The offer document states that Santosh Kumar Shah and Priti Shah are husband and wife.
Annual report FY26, p.5, p.11 and p.28; offer document, p.180 and p.181PSPriti ShahPromoter and Whole Time Director · holds 69.69%
Holds a BSc and an MBA in human resources from Delhi University, with about 16 years across electrical transmission and distribution, electrical products, pulp and paper and personal care products. On the board since April 2013; Managing Director from June 2024 and Whole Time Director from 12 November 2025.
Offer document, p.180; annual report FY26, p.11 and p.28KDKapil Dev MarwahExecutive Director
Completed higher secondary schooling and has about eight years of experience managing and executing construction projects; on the board since February 2022 and leads the core execution team.
Offer document, p.178 and p.180; annual report FY26, p.11SBSatyakam BasuChief Executive Officer
More than 43 years of experience in steel, metals, minerals and mining, industrial asset management, passive telecom infrastructure and energy services; joined the company on 1 July 2024.
Offer document, p.193VKVicky KumarChief Financial Officer
Holds a BCom from EIILM University, Sikkim, with 15 years of experience coordinating commercial projects; joined on 6 June 2024 and looks after finance.
Offer document, p.193DKDilip Kumar AgarwallaIndependent Director
A chartered accountant with more than 23 years in accountancy, financial planning, budgeting and business planning; on the board since October 2024.
Offer document, p.180; annual report FY26, p.12KRKavita RaniIndependent Director
A qualified company secretary with more than 14 years in secretarial functions and legal affairs, including public offerings and disclosure work; on the board since June 2024.
Offer document, p.180; annual report FY26, p.12Sugs Lloyd latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 June 2026: promoters 70.28% to 70.54%.
- 29 Sept 2026: order worth ₹8.90 cr announced.
- 24 Sept 2026: order worth ₹4.68 cr announced.
Sugs Lloyd announcements
8 on record, latest first; each opens the filing on the exchange
- Company UpdateSugs LLoyd Limited furnishing the compliance certificate under Reg 74(5) of SEBI(Depositories and Participants) Regulations, 2018PDF ↗
- AGM/EGMDetails of the Voting Results of the 17th Annual General Meeting of the CompanyPDF ↗
- AGM/EGMProceedings of 17th Annual General MeetingPDF ↗
- Company UpdateSugs LLoyd Limited Secures prestigious 8.90 crore order from the Golden Temple, Amritsar for a 2 MW Solar Power ProjectPDF ↗
- Insider Trading / SASTWe are hereby submitting that the trading window shall remain close w.e.f. 01-10-2026 and will remain reopen 48 hours after the announcement of the Unaudited fiPDF ↗
- Company UpdateSugs LLoyd Secures Order worth Rs. 4.68 crores from UPNEDAPDF ↗
- Company UpdateSugs LLoyd Limited receives 213.48 crore contract for power distribution works in PunjabPDF ↗
- Company UpdateSUGS LLoyd Limited Receives Rs. 213.48 Crore Letter of Award for RDSS Works in Punjab on a Back to Back BasisPDF ↗
Sugs Lloyd annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 3 Nov 2025 ↗read
- Credit ratings ↗read
Sugs Lloyd share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Sugs Lloyd's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,32,14,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY22 (₹88.00) and FY23 (₹7.05) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Sugs Lloyd
What does Sugs Lloyd do?
Sugs Lloyd builds and upgrades electricity lines, substations and solar plants for state power companies and other government bodies, and makes a small device that shows power companies where a line has failed. Its shares trade on BSE SME.
What is the share price of Sugs Lloyd?
₹261 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Sugs Lloyd?
₹606 cr at the close on 6 Nov 2026, on 2,32,14,000 shares.
What is the P/E of Sugs Lloyd?
21.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Sugs Lloyd's revenue and profit?
Revenue ₹301 cr and profit after tax ₹29 cr in FY26.
Who are the promoters of Sugs Lloyd?
Santosh Kumar Shah, Priti Shah; promoters held 70.54% at 30 June 2026.
What is Sugs Lloyd's website?
www.sugslloyds.com
More SME companies like Sugs Lloyd
Other listed SME companies in electrical equipment, the closest in size first, each read from its own documents.
- Saakshi Medtech and PanelsSAAKSHI · NSE Emerge · Electrical Equipment · listed 2023Market cap ₹657 cr
- Supreme Power EquipmentSUPREMEPWR · NSE Emerge · Electrical Equipment · listed 2023Market cap ₹684 cr
- Vans ElectroengineeringsVANS · BSE SME · Electrical EquipmentMarket cap ₹520 cr
- Parth Electricals & EngineeringPARTH · NSE Emerge · Electrical Equipment · listed 2025Market cap ₹712 cr
- Raksan TransformersRAKSAN · BSE SME · Electrical EquipmentMarket cap ₹486 cr
- GP Eco Solutions IndiaGPECO · NSE Emerge · Electrical Equipment · listed 2024Market cap ₹454 cr
Built from 3 earnings call transcripts, 3 investor presentations, 2 annual reports, 2 credit rating notes, 1 offer document, 1 result filing, 1 press release, 8 exchange announcements, 4 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.