loader2
Partner With Us NRI

Surya Roshni Ltd share Price Today

Company details

620.00
633.85
364.53
841.65
6M Return 25.20%
1Y Return 55.42%
Mkt Cap.(Cr) 6,766.30
Volume 162,103
Div Yield 0.40%
OI
-
OI Chg %
-
Volume 162,103

Open Free Trading Account Online with ICICIDIRECT

Incur '0' Brokerage upto ₹500

Iron & Steel Products company Surya Roshni announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • The company reported slight dip in revenue by 2% & EBITDA by 5% in FY24 on account of significant headwinds.
  • EBITDA margins for Q4FY24 stood at 8.30%.
  • Strong volume growth coupled with better product-mix in favor of higher margin value products and cost savings on back of PLI led backward integration resulted in strong operating profitability.
  • EBITDA margins for Q4FY24 stood at 10.66% as against 9.84% for the same quarter last year.
  • Professional lighting business has witnessed high-teen digit growth in Q4.
  • Led Batten & LED Downlighter verticals saw healthy volume growth in FY24.
  • In Q4FY24, the fan business recorded mid-teens growth, while the appliances segment grew by robust 20%.
  • Net Working Capital: 76 days in Q4FY24 as against 70 days in Q3FY24.
  • In Q4FY24, the steel pipes segment recorded its highest ever quarterly volumes of 2.36 lakh tons and witnessed a volume growth of 4%.
  • Despite significant reduction in steel prices in Q4FY24, we witnessed only a slight dip in our overall sales revenue.
  • EBITDA/Ton for the quarter stood at Rs 5,877.

FY24 Financial Highlights:

  • We are now a Zero-debt company. We reduced our debt by Rs 400 crore in FY24 and have cash surplus of Rs 65 crore.
  • Inspite of significant price erosion in consumer lighting business, we recorded an annual revenue growth of 2% and stands at Rs 1,572 crore in FY24.
  • Professional lighting business witnessed more than 20% growth in FY24 driven by infrastructure as well as industrial projects.
  • In FY24, the fan business recorded mid-teens growth, while the appliances segment grew by robust 20%.
  • Net Working Capital: 55 days in Q4FY24 as against 69 days in Q3FY24.
  • Growth of 6% in FY24 inspite of the B2B business witnessing a temporary slowdown on account of General Elections.
  • Exports registered a volume growth of 12% in FY24.
  • Strong in-hand order book of Rs 800 crore as on 31st March 2024 for Oil & Gas sector, Water Sector and Exports business.

Commenting on the results, Company’s Managing Director, Raju Bista, said “The overall performance of the company in FY24 has been satisfactory given the headwinds in both our business verticals of Steel Pipe business & Lighting and Consumer Durable business. We firmly believe that these headwinds are temporary, and the company is poised for sustained growth in both the businesses.

EBITDA for FY24 stood at Rs 586 crore as compared to Rs 620 crore last year. There was slight dip in our overall EBITDA margins primarily on account of significant dip in operating margin of steel pipes business which was slightly offset by improved margins in lighting and consumer durable business. We registered PAT of Rs 329 crore in FY24, similar to what we had recorded in FY23.”

“In Lighting and Consumer Durables, we experienced good results in FY24. Overall sales witnessed a growth of 2% and EBITDA increased by 23% in FY24 as compared to previous year, signaling improved operational efficiency and effective cost management.

Our professional lighting segment notably grew in Q4FY24 by approximately 20%, demonstrating strong market acceptance and a robust order book. Consumer durables, including fans, water heaters, irons, kitchen appliances, and festival lighting products, all posted double-digit growth, reflecting high consumer satisfaction and market penetration.

Throughout the year, our focus on design quality and manufacturing excellence has significantly reduced warranty related costs for LED products, placing us at the forefront of industry standards. Both lighting plants met productivity targets, benefiting from numerous automation and process improvement projects. This focus on operational efficiency not only enhanced our performance metrics but also supported our profitability, with EBITDA margins improving from 7.9% to 9.6% over the fiscal year.

Despite a challenging market environment with subdued demand for consumer durable products in the last quarter, our engagement strategies with over 25,000 key retailers and innovative marketing activations have kept our brand highly visible and competitive. The introduction of new product lines, particularly in the premium category, has successfully enriched our product mix, further bolstering our market standing.

Looking forward, we expect the lighting and consumer durables industry to continue experiencing growth, driven by increasing consumer aspirations and government spending on infrastructure. Our strong position in both B2C and B2B segments, along with our focus on high-quality, innovative products, positions us well to capitalize on these opportunities. Our ongoing investments in technology and product development, along with strategic market expansions, are expected to drive sustained growth and profitability in the upcoming fiscal years.”

“In the Steel Pipes and Strips, the company achieved the highest ever quarterly volumes despite challenging market conditions and electoral season. However, the company demonstrated resilience, managing only a slight dip in sales revenues due to decline in steel prices. This success is attributed to our strong presence in the API pipes segment and robust export performance, which collectively constituted 29% of our total volume sales. The downturn in steel prices led to an EBITDA/Ton of Rs5,877, on account of muted value-added product sales & loss in inventory.

The current Government’s 2024 manifesto has given a lot of impetus to infrastructure projects which includes overbridges, new airports and railway station redevelopment. The designs of these projects are such that it will generate robust demand for DFT pipes. The manifesto also includes a promise to expand city gas distribution (CGD) networks across India, which will drive growth. We also expect healthy volume growth in API pipes business as well. We also supply GI section pipes to solar utility projects, which are likely to witness rampant installation over the upcoming years.

We are actively expanding our operational capacity - aimed at increasing our monthly production capacity by 12,000 to 15,000 tons - to meet anticipated market demand. These expansions will enhance our ability to serve growing market needs, particularly in water infrastructure and energy sectors. With steel prices stabilizing and the government’s increased focus on infrastructure development, we expect healthy demand across our product lines.

Our strong order book of Rs800 crore, particularly in the oil & gas and water sectors, along with a solid export portfolio, underscores the company's robust financial health and operational efficiency. Improved working capital cycles and strategic raw material sourcing further strengthen our market position. We will continue to innovate, adapt, and grow, driven by a commitment to excellence and sustainability.”

Result PDF

View Other Company Results

Surya Roshni Ltd shares SWOT Analysis

Strengths (9)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Weakness (3)

  • Degrowth in Revenue and Profit
  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)
  • Fall in Quarterly Revenue and Net Profit (YoY)

Opportunity (1)

  • RSI indicating price strength

Threats (2)

  • Red Flag: Resignation of Top Management
  • Increasing Trend in Non-Core Income

Resistance and support

R1 630.4
R2 639.1
R3 644.3
Pivot

625.22

S1 616.6
S2 611.4
S3 602.7
EMA SMA
594.7
590.5
590.2
560.9
588.4
589.4
606.8
583.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
SW CAPITAL PRIVATE LIMITED Bulk Purchase 2023-12-29 721.66 626096 NSE
SW CAPITAL PRIVATE LIMITED Bulk Sell 2023-12-29 764.36 610898 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2022-08-29 487.46 360030 NSE
Name Category Shares
JAIPRAKASH AGARWAL PROMOTER 1.54%
VINAY SURYA PROMOTER 0.98%
URMIL AGARWAL PROMOTER 0.54%
DIWAKAR MARKETING PRIVATE LIMITED PROMOTER 10.36%
CUBITEX MARKETING PRIVATE LIMITED PROMOTER 8.93%
SHREYANSH MERCANTILE PRIVATE LIMITED PROMOTER 5.84%
SAHAJ TIE UP PRIVATE LIMITED PROMOTER 5.74%
DICORD COMMODEAL PRIVATE LIMITED PROMOTER 4.16%
SHIRIN COMMODEAL PRIVATE LIMITED PROMOTER 3.89%
S M VYAPAAR PRIVATE LIMITED PROMOTER 3.65%
GOEL DIE CAST LIMITED PROMOTER 3.54%
ZATCO VYAPAR PRIVATE LIMITED PROMOTER 2.58%
SADABAHAR TRADECOMM PRIVATE LIMITED PROMOTER 2.35%
JITS COURIER AND FINANCE PRIVATE LIMITED PROMOTER 1.84%
PANKAJ INVESTMENTS LIMITED PROMOTER 1.78%
B M GRAPHICS PRIVATE LIMITED PROMOTER 1.77%
GARGIYA FINANCE AND INVESTMENT PVT LTD PROMOTER 0.96%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Surya Roshni Ltd Stocks COMPARISON

Financials( in Cr) Surya Roshni Ltd Tata Steel Ltd JSW Steel Ltd Jindal Steel & Power Ltd Tube Investments of India Ltd
Price 621.80 183.15 921.15 1,052.45 4,307.00
% Change -0.93 0.32 0.59 1.08 1.65
Mcap Cr 6,766.30 228,635.89 225,263.00 107,359.16 83,298.24
Revenue TTM Cr 7,996.71 243,352.69 165,960.00 53,211.52 14,964.73
Net Profit TTM Cr 335.52 8,075.35 4,139.00 3,974.09 1,325.06
PE TTM 20.55 0.00 26.72 18.06 125.33
1 Year Return 55.42 64.78 21.74 97.42 53.98
ROCE 22.26 12.10 8.60 14.17 33.06
ROE 19.67 7.48 6.22 13.27 37.40
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,863.59 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 34,088.77 -1,030.79
LAST 3M 113,155.52 -39,495.50
LAST 6M 184,812.44 -13,263.60
LAST 12M 291,038.85 99,015.20

Surya Roshni Ltd Information

Stock PE (TTM)
20.55
Promoter Holding
62.96%
Book Value
199.0994
ROCE
22.26%
ROE
19.67%
Description
  • Surya Roshni Limited (Formerly known Prakash Tubes Limited) was established in the year 1973 under the leadership of Mr. J.P. Agarwal. The Company acted as a Steel Pipe manufacturer and gradually diversified into Lighting in 1984, PVC pipes in 2010 and Consumer Durables in 2014-15. The Steel Pipes and Strips business, under the brand `Prakash Surya`, manufactures a wide range of products, and is India`s largest manufacturer of GI pipes and the largest Exporter of ERW Pipes. The business has further strengthened with the setting up of 3LPE coating facility unit in 2018 (for the Oil & Gas and CGD sector). The Lighting business, under the brand `Surya` manufactures an array of conventional to modern LED lighting, and is one of the leaders of the lighting industry. The Consumer Durable business offers a variety of Fans and Home Appliances, and is continuously growing the portfolio. The Company has two divisions, comprising of the steel division and the lighting division. The steel division, which commenced operations in 1974, manufactures electrical resistance welded (ERW) steel pipes and tubes, and cold-rolled formed sections and profiles, and cold-rolled (CR) strips. The lighting division, operating since 1983, manufactures flourescent tube lamps (FTL), general lighting systems (GLS), glass shells for GLS lamps, tubular glass shells, FTL filaments, GLS filaments, and sodium and mercury vapour lamps. The lamps are sold under the Surya brand. A backward intergration to manufacture lead glass tubings and an expansion of capacities of the lighting division were undertaken in 1993. The company recently completed a project to manufacture halogen lamps and decorative lamps. Its backward integration project to manufacture ribbon glass shells, FTL tube drawing lines, GLS filaments, FTL filaments, GLS caps and GLS chains, is under implementation, out of which two GLS lamp groups, GLS lamp filament and automatic FTL packing machine were completed in 1995-96. The technologies for the above projects are from GB Glass, UK, and Falma, Switzerland. The projects for GLS lamps, GLS filaments, lamp caps and electrostatic coating were also completed in 1995-96, while those for ribbon glass shells and tube drawing projects, will get over in 1998. All the products except ribbon shells are totally for captive consumption. Surya Roshni has also set up a joint venture with Osram, under the name Osram Surya Pvt Ltd to manufacture compact flourescent lamps. During the year 2006-07, Company started manufacturing Energy Saving Lamp. One Chain of CFL capable to manufacture lamps of all varities ranging from 5W to 23W was installed with an annual capacity of 12 Million Pieces and PCB Chain with approx. 6 Million Pieces was commissioned. It started using Natural Gas as Fuel replacing existing Fossil fuel, thus improve the quality & efficiency of machine and products. During year 2007-08, the Company extended its manufacturing of Energy Saving Lamp. In addition to chains installed last year capable to manufacture Energy Saving Lamps of all varities ranging from 5W to 23W, one more CFL chain for Spiral CFL Lamps and one G.E. make Automatic Chain for production of CFL were installed during the current year by which the capacity enhanced to 24 Million Pieces per annum. In addition to Natural Gas division it started to use Oxygen and Nitrogen Gas to bring the input cost low. During the year 2008-09, the Company commissioned a new Cold Rolling mill with Automatic Gauge Control (AGC) to increase the capacity of Cold Rolling Segment and to improve the quality of CR Product. It revamped the Luminaire Business Group (LBG) for Luminaires / HID Lamps & High Masts from Public Sector Undertakings / Public Work Departments and Local bodies as well as from wide spectrum of Industrial & Commercial Luminiaire Buyers. Apart from this, it installed One CFL Chain with world class technology from GE Europe. Surya Global Steel Tubes Limited became subsidiary of Company for acquiring 74.33% equity shares in the same. This subsidiary company purchased land admeasuring 63 acre in area of Anjar, Bhuj, in Gujarat for setting up a unit to manufacture 2 lacs M.T of Spiral welded Steel Pipes at project costing Rs. 225 Crores during year 2009. During 2009-10, the Company commissioned one hydrogen annealing plant which improved the quality of cold rolled product. It commissioned sixth galvanizing plant which has increased the capacity by 40000 MT per year. Solid State Welder and Hydro testing Machine was installed in Pipe Mill. One Gas Gen Set of 1.75MW was installed during the year which improved In- house generation of power. Unit set up new production facilities for manufacturing of FTL, CFL, PCB, HID, and PVC products in the said expansion. Malanpur Unit installed one CFL Line to produce T-3 Type Compact Fluorescent Lamps with capacity of 6 million pieces per annum .Unit added capacity in Cap Plant by installing new Furnace and adding one vitriting and one pinning machine. It started PCB Production for CFL lamps with SMT/ Auto Insertion Technology. During the year 2009-10, ERW unit of High Mast Division with a installed capacity of 25000 MT per annum started commercial production. The Subsidiary Company, Surya Global Steel Tubes Limited started commercial production of spiral pipe project with capacity of 60000 MT in January, 2010 at Anjar, Bhuj ( State of Gujarat). The Company expanded its Kashipur unit by setting up FTL,CFL,PCB,HID and PVC plants inaugurated in Uttarakhand effective on 25th March, 2010. During the year 2010-11, the Company commissioned one 1.75 MW Gas Gen Set which has improved In- house generation of power cost and contributed in emission reduction. Malanpur Unit installed on Ribbon Machine a Stirrer system from SORG, Germany for better glass / quality of shells and further one assembly building was built to accommodate all the 8 CFL assembly lines, thereby improving the MHR and reduction in wastages. The Company commissioned High Mast Fabrication Machinery and the state of Art Galvanizing plant of High Mast/ Poles and ERW pipes. Furthermore , the division has started production of High Mast and Poles and produced 1025 MT during the year. In the Subsidiary Company, Surya Global Steel Tubes Limited, the two phases of Spiral Mill with capacity of 60,000 M.T & 1,40,000 MT respectively and ERW Pipe Project with capacity of 100000 MT per annum were commissioned and commercial production started at Bhuj, in Gujarat during 2010-11. The Company launched colourful range of Ceiling, Table, Pedestal, Wall mounted and domestic Exhaust fans under the brand name "SURYA" in 2013-14. During year 2014-15, it added Surya Home Appliances business by introducing heating products like water heaters, heat convectors immersion rods in October and subsequently adding irons and mixers. During 2017-18, the Company launched several innovative LEDs like dynamic colour changing lamps, app-controlled lights, dimming lights, motionsensors and solar lights, among others. It augmented the fans portfolio by launching higher premium fans range with automatic colour changing LED Lights, electroplated finish, aero-dynamically designed blades and wood-finish aluminium blades. It introduced fans with anti-dust technology, which attract 50% less dust than a regular fan and developed a 32W super-efficient BLDC fan, which saves around 60% energy as compared to conventional fan. It introduced new models of energy-efficient and BEE fivestar rated fans. Company`s New Steel Pipe Plant at Hindupur (A.P.) which commissioned in March, 2017 for manufacture of ERW (GI, Black, Section) pipes expanded further its production capacity to 1,50,000 M.T.P.A. in November, 2017. The erstwhile Surya Global Steel Tubes Limited (e-SGSTL) merged with Company effective from 11th January, 2018 having its appointed date as 1st April, 2016 through the approved Scheme of Amalgamation by Chandigarh Tribunal on 11th December, 2017. The Kandla and Mundra Port manufactured API 5L X - 70 PSL2 Grade pipe for Oil & Gas Industry. The Company established world`s one of the best 3LPE Coating facility having latest technology from Selmer, Netherland at its unit and commenced Commercial Production on November 05, 2018 for 3LPE Coated Pipe Manufacturing Unit with an installed capacity of 18,50,000 Sq. mtr. for External and 11,00,000 Sq. mtr. Internal Coating for pipes ranging from 4" to 64" diameter. The expansion at Hindupur Unit (A.P) was commissioned with capacity of 2 lakh M.T per annum of ERW Pipes along with Galvanized Pipes in 2019-20. The Company commissioned third galvanized plant at Hindupur from March 2021. It completed expansion of hree-line LPE Coating at Anjar and started commercial production from 31st March, 2021. The Company commenced Commercial Production of its second line for manufacturing of 3LPE Coated Pipes with an installed capacity of 9 Lakh square meter per annum over and above the existing installed capacity of 18,50,000 Sq. mtr. in 2021. It introduced more premium range of LED Downlighters, Battens, Lamps, Street Lights, Flood Lights, other decorative luminaires. In 2022, the Company commissioned large-dia section pipe facility with Direct Forming Technology (DFT) at Malanpur, Madhya Pradesh having an nstalled capacity of 36,000 MTPA effective on 14th April, 2022.

Registered Address

Prakash Nagar Sankhol, , Bahadurgarh, Haryana, 124507

Tel : 01276-241540
Email : investorgrievances:sroshni.com
Website : http://www.surya.co.in
Registrar

Mas Services Limited

AGM Date (Month) : Sep
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 500336
NSE Code : SURYAROSNI
Book Closure Date (Month) :
BSE Group : B
ISIN : INE335A01020

FAQ’s on Surya Roshni Ltd Shares

You can buy Surya Roshni Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Surya Roshni Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:59 PM the closing price of Surya Roshni Ltd was Rs.621.80.

The latest PE ratio of Surya Roshni Ltd as of Jun 14, 2024 03:59 PM is 20.55

The latest PB ratio of Surya Roshni Ltd as of Jun 14, 2024 03:59 PM is 0.32

The 52-week high of Surya Roshni Ltd share price is Rs. 841.65 while the 52-week low is Rs. 364.53

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:59 PM, the market cap of Surya Roshni Ltd stood at Rs. 6,766.30.

Download App

Download Our App

Play Store App Store
market app