Shares of India’s largest ERW pipes exporter, the top GI pipes producer, and the second-largest in the lighting segment rose by over 4 percent after securing a Rs.214.68 crore order from Hindustan Petroleum Corporation Limited (HPCL) and another entity to supply coated line pipes and welded MS pipes.
Share price movement
In Thursday’s trading session, Surya Roshni Ltd shares hit an intra-day high of Rs.584.70 per share, up 4.14 percent from the previous close of Rs.561.45 apiece. However, the shares have since retreated and are currently trading at Rs.573.45 per share.
What happened
Surya Roshni Ltd has secured two significant orders, one from Hindustan Petroleum Corporation Limited (HPCL) and another from a domestic entity.
The orders, valued at Rs.106.01 crore and Rs.108.67 crore (including GST), involve the supply of 8″ Inch API SL PSL-2, XS2 Grade 3LPE Coated Line Pipes and Food Grade Epoxy Coated, Spirally Welded HSAW MS Pipes for projects in Jaipur, Madhya Pradesh, and Ranchi. The orders are to be executed within 40 and 15 weeks, respectively.
Manufacturing Facilities
Surya Roshni operates multiple manufacturing plants across India. Its Steel Division, known as Surya Steel Pipes, has major facilities in Bahadurgarh (Haryana), Bhuj (Gujarat), and Gwalior (Madhya Pradesh). The Lighting Division has factories in Kashipur (Uttarakhand) and Gwalior (Madhya Pradesh). Additionally, the company has a dedicated R&D center for LED technology in Uttarakhand.
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Product Portfolio
Surya Roshni offers a wide range of products, including LED lights, GLS (General Lighting Service) bulbs, and FTL (Fluorescent Tube Lights) in lighting solutions. Its steel products include GI (Galvanized Iron) pipes and strips. The company also manufactures home appliances such as fans and kitchen appliances, along with PVC pipes used in construction and plumbing applications.
Financial Performance
In its recent financial updates, Surya Roshni Ltd reported revenue of Rs.1,529 crore in Q2 FY25, falling 20 percent from Rs.1,916 crore in Q2 FY24. The net profit also declined 52.6 percent to Rs.36 crore, compared to Rs.76 crore in the same period.
Shareholding Pattern
As per the September 2024 shareholding pattern, the promoters of Surya Roshni Ltd hold a 62.96 percent stake, while Foreign Institutional Investors hold a 4.87 percent stake. Domestic Institutional Investors and Retail investors hold a stake of 1.03 percent and 31.02 percent, respectively in the company. Notable ace investor, Mukul Aggarwal owns a 1.01 percent stake in the company.
Company Profile
Surya Roshni Limited, headquartered in Delhi, is an Indian multinational company renowned for manufacturing lighting products, steel pipes, fans, kitchen appliances, and PVC pipes. It has emerged as one of India’s top LED light manufacturers and exports its products to more than 44 countries worldwide.
Written by – Siddesh S Raskar
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