During Thursday’s trading session, the price of a micro-cap steel company specialized in manufacturing premium ERW pipes and steel tubes surged up to 5 percent after Reporting a 60 percent increase in their sales volume.
Price movement
With a market capitalization of Rs.142.36 crores, at 11.21 p.m., the shares of Surani Steel Tubes hit a 5 percent upper circuit at Rs. 116.40 on NSE, against its previous closing price of Rs. 111.
What’s the News
The Company has announced to the stock exchange a substantial increase in its sales volume for the financial year 2024-25. The Company’s sales quantity surged to 43,488 MT, reflecting a 60 percent growth compared to 27,212 MT in the previous financial year.
With this staggering performance, the indicators show the Company’s strong market demand, operational efficiency, and commitment to delivering high-quality products for its clients.
Management comments:
The management of the company said: “We are delighted with the impressive growth in our sales volume, which is a testament to our strategic initiatives and the trust our customers place in our products. This milestone reinforces our commitment to innovation, efficiency, and sustainable growth. Moving forward, we aim to build on this momentum and continue delivering value to our stakeholders.”
The Company remains focused on further strengthening its market position through continued investment in technology, infrastructure & product development The surge in sales shows that the company is attributed to expansion into new markets and enhanced production.
About the Company:
Surani Steel Limited founded in July 2012 is a leading manufacturer and supplier of steel specializing in ERW pipes and steel tubes. With decades of exposure and expertise in the steel industry. The company’s team is committed to establishing Surani Steel as a premier provider to a diverse range of industrial sectors. Surani Steel operates through a state-of-the-art manufacturing facility located in Dahegam, Gujrat. The Company caters to a diverse range of industries such as Infrastructure, Engineering, Heavy vehicles, Energy, and Construction.
Financials
The company’s revenue from operations has grown by 70.7percent from the revenue of Rs.65 crores in Sep’23 to Rs.111 crores in Sep’24.the company also has shown an increase in profits from a loss of 1 crore in Sep ’23 to a profit of Rs.1 crore in Sep’24. The Return on equity (ROE) of the company stands at 2.92 percent
Written by:- Likesh Babu S
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