Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Suntech Infra Solutions Ltd. (SUNTECH)
SME CapIT stocks · SME cap · NSE
Founded in 2009, Suntech Infra Solutions is a Pan India Infrastructure Execution Company. Core verticals include Foundation & Piling, Civil & Superstructure, and Equipment Rental. Strengths include 100+ owned machines, 750+ team members, and strong execution capabilities across Refineries, Power, Chemical, Metro, Industrial, and Commercial Infrastructure sectors.
₹36.5
-1.50 · -3.95%
Market cap ₹68.7 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 May, 04:18 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
59NeutralSMA20 -6.5% / mo · MACD − · sector +19.3pp vs Nifty 500 (3M)
Stock trend: 32
Sector RS: 100
Sector 3M: +13.7% vs Nifty 500 -5.6%
IT FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
SUNTECHD candles · FIT view-10.1%Latest close ₹36.50 on 2026-10-21
Bar
-0.3%
RSI
46
MACD hist
-0.08
52W pos
25%
2026-10-21O ₹36.60H ₹36.60L ₹36.50C ₹36.50Vol 8,000 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SUNTECHNifty ITNifty 500
- SUNTECH
- +21.7%
- Nifty 500
- -6.5%
- Nifty IT
- +12.0%
- Vs Nifty 500
- +28.2 pp
Chart stats
21 Oct 2026- From 52W high
- -40.7%
- 52W range position
- 24%
- ATR (14)
- 4.2%
- Volume vs 20D
- 1.35x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹35.5 - ₹40
₹61.5
₹28.7 - ₹61.5
₹1.5
Latest completed session
20-session average
52.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED66
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good72
Revenue +98.2% · PAT +57.1% YoY
Technical
Neutral59
Price trend and sector-relative-strength timing.
Valuation
Legacy model+84.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence61
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Good · 72/100Rev +98% YoY · PAT +57% YoY · +60% QoQ · margin compression
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹109 Cr | +98.2% | +60.3% |
| EBITDA | ₹23 Cr | NDF | +91.7% |
| Operating margin | 21.0% | NDF | +300 bps |
| PAT | ₹11 Cr | +57.1% | +266.7% |
| PAT margin | 10.1% | NDF | +568 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.04
- P/B
- 0.72
- EV/EBITDA
- 2.99
- Market Cap
- 68.70Cr
Profitability
- ROE
- 18.80%
- ROCE
- 16.30%
- ROA
- 6.73%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 23.00%
- EPS 5Y
- 23.00%
- Revenue 3Y
- 27.00%
- EPS 3Y
- 33.00%
Balance Sheet
- Debt/Equity
- 0.82
- Interest Coverage
- 5.83×
- Altman Z
- 2.44
- Book Value
- 49.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -21.00 Cr
- EPS TTM
- 7.10
Shareholding
- Promoter Hold
- 69.72%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 22%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 109+60.3% vs prev
Net Profit
₹ CrLatest: 11.0+266.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 46.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- Recent golden cross (SMA50 crossed above SMA200).
- SMA20 falling (~6.9% over last month) — short-term momentum negative.
- RSI(14) at 46 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 39% off 52W high · 27% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
44
RS percentile
Stage 1 Base / Transition
1M return
-0.8%
3M return
+14.6%
6M return
-11.1%
1Y return
-26.9%
RS 1D
-4
RS 20D
+20
Sector rank
#7
Industry rank
#37
Stage evidence
- Price is within 0.9% of the 30-week proxy.
- The 30-week proxy changed +0.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
252 observations
21 Oct 2026Value 69.74-3.04%
RS vs Nifty 50070
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation30/30
Growth21/25
Quality12/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-8
Raw sum
66
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
66/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 84.0%.
- Valuation contributes 30/30 to the score.
- Growth contributes 21/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
5.0
PB
0.7
EV/EBITDA
3.0
ROE
18.8%
ROCE
16.3%
FCF Yield
—
Debt/Equity
0.8
MoS
+84.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
66
Previous: 66
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+84.0%
Previous: +83.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
66
66
66
66
66
66
66
66
66
66
66
66
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹88.56
+58.8% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹227.91
+84.0% MoS
PEG
0.19
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SONUINFRA
SME
Sonu Infratech Ltd.
IT Services / Digital
match 157
72
3.8
18.5%
+88%
UNDERVALUED
SLONE
SME
Slone Infosystems Ltd.
IT Services / Digital
match 131
76
7.7
20.8%
+78%
DEEP VALUE
GREENLEAF
SME
Greenleaf Envirotech Ltd.
IT Services / Digital
match 131
72
10.2
30.4%
+70%
UNDERVALUED
ADDICTIVE
SME
Addictive Learning Technology Ltd.
IT Services / Digital
match 130
44
51.8
1.7%
-114%
WATCHLIST
MGSL
SME
Matrix Geo Solutions Ltd.
IT Services / Digital
match 130
75
7.8
23.0%
+76%
DEEP VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-02T07:19:34.921Z
Management commentary snapshot
Suntech Infra reports 16% YoY revenue growth for FY26, but profitability metrics show significant stress with flat FY26 EBITDA, declining margins, and a sharp drop in EPS, ROE, and ROCE.
Despite healthy revenue growth and a strong order book, the company's profitability is under pressure. FY26 EBITDA remained flat, and both EBITDA and PAT margins have seen a consistent decline over the past two years. The substantial drop in EPS, ROE, and ROCE, coupled with high debt-to-equity, raises concerns about capital efficiency and shareholder returns.
Growth engines
Sustainable Business Growth Target
Management aims for 20–25% annual revenue growth over the next three years, focused on long-term value creation.
Robust Order Book Position
A strong order book of ₹214.44 Cr, with ₹202.94 Cr executable in FY27, ensures healthy revenue visibility.
Expanding Market Penetration
Direct engagement with reputed owners and PMC consultants enhances market credibility and business visibility, driving repeat business.
Strategic Capex Initiatives
Strategic capex investment of ₹47 Cr in FY25 & FY26 strengthened operational capabilities, with Gross Block reaching ₹149 Cr.
Capacity and execution
Capex Investment
Capex for FY26 was ₹27.60 Cr, up from ₹18.75 Cr in FY25.
Total Fleet Size
Total fleet size increased to 100 machines in FY26 from 90 in FY25.
Risk radar
Fluctuations in Earnings
Company states future business prospects are subject to risks and uncertainties regarding fluctuations in earnings.
Competition
Risks include competition (both domestic and international) in the infrastructure execution sector.
Time and Cost Overruns
Company mentions risks related to time and cost overruns on contracts.
Government Policies and Regulations
Risks include government policies and actions regulations, which can impact projects.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The investor presentation provides H2 FY26 vs H2 FY25 and FY26 vs FY25 comparisons, indicating a focus on year-over-year performance, which is typical for infrastructure projects that can have varying execution cycles.
Sector KPIs management disclosed
Total Income (H2 FY26)
Total Income for H2 FY26 was ₹11,020.21 lakhs, a 16% YoY increase from ₹9,540.31 lakhs in H2 FY25.
Total Income (FY26)
Total Income for FY26 was ₹17,916.16 lakhs, a 16% YoY increase from ₹15,442.58 lakhs in FY25.
EBITDA (H2 FY26)
EBITDA for H2 FY26 was ₹2,456.07 lakhs, a 10% YoY increase from ₹2,233.10 lakhs in H2 FY25.
EBITDA (FY26)
negativeEBITDA for FY26 was ₹3,822.09 lakhs, a marginal 0% YoY increase from ₹3,821.50 lakhs in FY25.
Management forward view
Commitment to Safety and Quality
Suntech Infra officially launched its HSE (Health, Safety & Environment) and Quality Policies to reinforce commitment to safe operations and project delivery excellence.
Focus on Long-term Value Creation
Management is focused on long-term value creation over the next three years.
Enhancing Productivity
Capex initiatives are aimed at enhancing productivity and strengthening operational capabilities.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | 16% YoY (FY26) | Sustained achievement of the 20-25% annual revenue growth target. |
| EBITDA Margin | 21.33% (FY26) | Stabilization or improvement in EBITDA margin, which has declined significantly over the past two years. |
| Order Book Execution | ₹202.94 Cr executable in FY27 | Timely execution and conversion of the order book into revenue, without significant delays or cost overruns. |
| Debt to Equity | 1.43x (FY26) | Reduction in leverage, especially given the asset-heavy business model and declining profitability ratios. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
61Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 32nd percentile of the scored universe and 28th percentile within IT. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
32nd percentile
overall median 67 · IT: 28th pctile, median 69 · SME: 36th pctile, median 64
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
90
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
66
acceptable · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 69.7%.
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 1%.
Trust risks
- ▸Operating cash flow is negative at ₹-21 Cr.
- ▸Only 1 years of positive FCF.
- ▸ROCE trend is -4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Suntech Infra Solutions Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationFeb 2026
Feb 2026 · PPT
Source: Nse
Investor presentationDec 2025
Dec 2025 · PPT
Source: Nse
Investor presentationSep 2025
Sep 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.