This Ace Investor Mukul Agrawal Stock, dealing in the business of manufacturing ERW GI Pipes in India, also the leading exporter of ERW Pipes with a 60 percent market share, was up by 6 percent after reporting net profit growth of 163 percent quarter on quarter.
Price Movement
Surya Roshni Limited‘s stock in Friday’s session touched a day’s high of Rs. 270.10 per share up by 5.71 percent. The stock reiterated from the day’s high and was trading at Rs. 269.55 which is 5.50 percent higher than the previous closing price of Rs. 255.50. It has delivered a negative return of around 30 percent in the past year and has underperformed the Nifty Index in the same period.
Q3FY25 Financial Performance
Their Q3FY25 results show revenue from operations of Rs. 1,867.96 crore which declined by 3.60 percent year on year, from Rs. 1,937.8 crore in Q3FY24 and a 22.17 percent increase from Rs. 1,528.89 crore in Q2FY25.
Their net profit declined by 0.22 percent year on year, from Rs. 90.1 crores in Q3FY24 to Rs. 89.9 crores in Q3FY25. Quarterly, the profits increased by 163.17 percent from Rs. 34.16 crore.
Business Segments
As per the recent December 2024 results, the company recognizes its revenue from Steel Pipe and Strips which contributed around 75.83 percent, and the remaining 24.16 percent from Lighting and Consumer Durables. Both segments saw a revenue decline year on year. However, despite the decline the Lighting segment saw an increase in operating profits year on year for the Q3FY25.
Ace Investor Stake
As of December 2024, Ace Investor Mukul Mahavir Agrawal holds around 1.01 percent. The stake in the company is consistent from the September 2024 quarter.
Order Book & Capex Plans
The company has an order book of around Rs. 550 crore for the Oil and Gas Sector, Water Sector, and Exports Business. They have increased their market share to approximately 10 percent in this segment. Surya Roshni’s Rs. 75 crore outlay towards expansion project at Hindupur to manufacture GP and CR Coils or Pipe.
Company Overview
Surya Roshni Limited was established in 1973. It is an Indian multinational company that manufactures steel pipes and lighting products, including LEDs, home appliances, fans, and PVC pipes. They are the largest GI pipes producer and among the top LED lights manufacturers in India exporting to over 44 countries.
Written by Santhosh S
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