Surani Steel Tubes Ltd
Surani Steel Tubes Limited, incorporated in 2012 and listed on NSE Emerge, manufactures and trades ERW mild-steel pipes/tubes from Dahegam, Gujarat, including round pipes and square/rectangular hollow sections used in infrastructure, engineering, agriculture, construction, energy, water, gas and related applications.[1]
- Market Cap ₹ 224 Cr.
- Current Price ₹ 144
- High / Low ₹ 174 / 47.3
- Stock P/E 50.9
- Book Value ₹ 83.5
- Dividend Yield 0.00 %
- ROCE 0.77 %
- ROE -0.43 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 30.8%
- Company has a low return on equity of 0.92% over last 3 years.
- Earnings include an other income of Rs.5.53 Cr.
- Promoter holding has decreased over last 3 years: -22.9%
- Working capital days have increased from 207 days to 375 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Iron & Steel Products
Part of Nifty SME Emerge
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 155.14 | 225.00 | 92.28 | |
| 154.74 | 223.62 | 93.88 | |
| Operating Profit | 0.40 | 1.38 | -1.60 |
| OPM % | 0.26% | 0.61% | -1.73% |
| 0.79 | -0.40 | 5.53 | |
| Interest | 0.11 | 0.02 | 0.00 |
| Depreciation | 0.48 | 0.80 | 0.89 |
| Profit before tax | 0.60 | 0.16 | 3.04 |
| Tax % | 18.33% | -200.00% | 32.89% |
| 0.50 | 0.49 | 2.05 | |
| EPS in Rs | 0.47 | 0.32 | 1.32 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -59% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -118% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | -23% |
| 1 Year: | 76% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 1% |
| Last Year: | 0% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|
| Equity Capital | 10.63 | 15.55 | 15.55 | 15.55 |
| Reserves | 77.71 | 106.29 | 108.35 | 114.29 |
| 42.36 | 34.57 | 0.00 | 0.00 | |
| 3.51 | 0.78 | 126.69 | 82.12 | |
| Total Liabilities | 134.21 | 157.19 | 250.59 | 211.96 |
| 10.30 | 11.83 | 11.03 | 23.72 | |
| CWIP | 0.13 | 0.10 | 0.86 | 0.89 |
| Investments | 0.00 | 17.44 | 0.00 | 0.00 |
| 123.78 | 127.82 | 238.70 | 187.35 | |
| Total Assets | 134.21 | 157.19 | 250.59 | 211.96 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| -56.80 | 8.88 | 12.61 | |
| -5.44 | -66.40 | 37.78 | |
| 95.99 | 25.19 | -34.57 | |
| Net Cash Flow | 33.76 | -32.34 | 15.82 |
| Free Cash Flow | -63.12 | 6.58 | 11.76 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -14,125% | 667% | -821% |
Ratios
Consolidated / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Debtor Days | 3.06 | 44.09 | 11.87 |
| Inventory Days | 153.59 | 52.77 | 587.89 |
| Days Payable | 5.53 | 0.60 | 513.02 |
| Cash Conversion Cycle | 151.12 | 96.26 | 86.74 |
| Working Capital Days | 102.53 | 142.30 | 375.40 |
| ROCE % | 1.91% | 0.77% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Mar 2027 (P) | Dec 2030 (P) | |
|---|---|---|---|---|---|---|---|---|---|
| Number of Permanent Employees count ・Standalone data |
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| Realization per Tonne INR/MT ・Standalone data |
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| Sales Volume MT ・Standalone data |
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| India Steel Pipes & Tubes Market Volume Million Tons ・Standalone data |
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| Installed Capacity MTPA ・Standalone data |
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| Number of SKUs count ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Outcome of Board Meeting
- Board approved H1 FY27 results: revenue ₹290.86 crore, profit ₹5.94 crore.
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Outcome of Board Meeting
- Board approved unaudited standalone and consolidated results for half year ended September 30, 2026.
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Shareholders meeting
- EGM approved authorising capital increase, company name change, and 98 lakh convertible warrants on preferential basis.
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Shareholders meeting
- EGM held on Oct 30, 2026; shareholders considered capital increase, name change, and 98 lakh warrant issuance.
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Copy of Newspaper Publication
- Newspaper publication of corrigendum to EGM notice for October 30, 2026 EGM.
Annual reports
-
Annual Report 2026
from nse
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Annual Report 2025
from nse
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Annual Report 2024
from nse
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Annual Report 2023
from nse
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Annual Report 2022
from nse
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Annual Report 2021
from nse
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Annual Report 2020
from nse
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Annual Report 2019
from nse
Concalls
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Nov 2023PPT
Product Profile:[1]
a) ERW Mild Steel Pipes:
ERW Black Steel Pipes, ERW Steel Pipes, Mild Steel ERW Pipes, Electric Resistance Welded Pipe
b) Mild Steel Tubes:
Mild Steel Square Tubes, MS Rectangular Tubes, Mild Steel Round Tubes
c) Mild Steel Coils:
Hot Rolled MS Coils, Mild Steel Coils, Mild Steel Coil
d) Mild Steel Pipes:
MS Structural Pipes, Mild Steel Seamless Pipe, Mild Steel Square Pipe, Mild Steel Round Pipes
e) ERW Mild Steel Tubes:
Electric Resistance Welded Tubes, ERW Round Steel Tubes, ERW MS Tubes
f) Mild Steel Hollow Section:
Mild Steel Square Hollow Section, Mild Steel Rectangular Hollow Section