The shares of the steel pipes and strips manufacturer gained up to 2 percent after the company received an order for the supply of ERW API coast pipes worth Rs 52.12 crore.
With a market capitalization of Rs 7,051.40 crore, the shares of Surya Roshni Ltd. closed at Rs 648.00 per share, increasing around 1 percent as compared to the previous closing price of Rs 641.80 apiece.
According to the exchange filing, Surya Roshni Ltd. has received a new work order for the supply of ERW API coast pipes worth Rs 52.12 crore from Indian Oil Corporation Limited (IOCL).
Looking at the company’s finances, Surya Roshni Ltd’s revenue climbed by 1 percent from Rs 1,916 crore in Q2 FY24 to Rs 1,938 crore in Q3 FY24. During the same time period, net profit climbed by 17 percent, from Rs 103 crore to Rs 121 crore.
Ase investor Mukul Mahavir Agrawal owns 15,00,000 shares as of December 2024, which is 1.38 percent of the business.
In Q3 FY24, the consumer lighting business experienced modest single-digit growth, while the consumer durables & appliances segment witnessed flattish growth. The company’s EBITDA margins for Q3 FY24 stood at 9.33%, as against 6.89% for the same quarter last year.
Surya Roshni has a strong in hand order book of Rs 600 crore for the oil and gas sector and export business. The company is Setting-up expansion project with an outlay of Rs 75 crore at Hindupur, A.P.
The company is the largest exporter of ERW pipes (GI and black pipes), exporting to more than 50 countries across the globe, including USA, Australia, Canada, Mexico, the Middle East, Europe, and Africa.
Surya Roshni Limited has grown to become India’s biggest manufacturer of GI pipes, its largest exporter of ERW pipes, and its second-largest supplier of lighting products. Creating a value-added product mix is its main goal (3LPE Coated pipes, alkyd pipes, etc.).
Written by:- Abhishek Singh
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