Surya Roshni Ltd

About [ edit ]

Surya Roshni Limited incorporated in 1973 has emerged as India’s largest ERW Pipes exporter, largest GI Pipes producer, and the second largest in the lighting segment. Its focus is on developing the value-added product mix (3LPE Coated pipes, Alkyd pipes, etc.) #

Key Points [ edit ]
  • Market Cap 2,349 Cr.
  • Current Price 432
  • High / Low 469 / 75.5
  • Stock P/E 18.4
  • Book Value 231
  • Dividend Yield 0.46 %
  • ROCE 10.8 %
  • ROE 8.54 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Company has a low return on equity of 10.05% for last 3 years.
  • Dividend payout has been low at 9.91% of profits over last 3 years

Peer comparison

Sector: Steel Industry: Steel - Large

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,426 1,270 1,395 1,605 1,706 1,412 1,324 1,395 1,338 882 1,374 1,577
1,324 1,197 1,311 1,509 1,588 1,329 1,239 1,298 1,249 839 1,275 1,462
Operating Profit 102 74 84 96 118 83 84 96 90 42 99 116
OPM % 7% 6% 6% 6% 7% 6% 6% 7% 7% 5% 7% 7%
Other Income 2 1 1 1 2 1 1 1 1 1 1 1
Interest 28 27 27 30 31 30 29 30 25 20 17 16
Depreciation 22 21 22 23 23 25 26 26 27 21 27 27
Profit before tax 53 27 36 45 66 29 30 42 39 2 56 74
Tax % 30% 24% 29% 30% 33% 32% 25% 26% 24% 26% 27% 25%
Net Profit 37 21 25 31 44 19 23 31 30 2 41 55
EPS in Rs 6.80 3.77 4.62 5.72 8.11 3.56 4.16 5.63 5.43 0.29 7.59 10.17

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,462 1,756 2,182 2,522 2,922 2,962 2,778 2,964 3,887 4,938 5,980 5,478 5,171
1,379 1,643 2,001 2,326 2,686 2,729 2,555 2,722 3,574 4,592 5,608 5,125 4,824
Operating Profit 83 113 181 196 237 234 223 242 313 346 372 354 347
OPM % 6% 6% 8% 8% 8% 8% 8% 8% 8% 7% 6% 6% 7%
Other Income 15 17 0 1 2 4 4 2 1 3 4 3 4
Interest 46 49 61 94 110 114 109 96 113 105 115 114 79
Depreciation 24 27 51 47 57 56 56 61 84 87 89 103 101
Profit before tax 28 54 70 56 72 67 62 87 118 156 173 139 171
Tax % 23% 16% 5% 7% 4% 20% 12% 27% 27% 31% 30% 27%
Net Profit 22 45 67 52 69 53 54 63 86 108 121 102 128
EPS in Rs 16.23 15.23 11.86 15.80 12.17 12.34 14.40 19.68 19.86 22.22 18.79 23.48
Dividend Payout % 14% 12% 10% 0% 25% 8% 8% 7% 9% 10% 9% 11%
Compounded Sales Growth
10 Years:12%
5 Years:15%
3 Years:12%
TTM:-11%
Compounded Profit Growth
10 Years:9%
5 Years:14%
3 Years:6%
TTM:9%
Stock Price CAGR
10 Years:17%
5 Years:24%
3 Years:3%
1 Year:444%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:10%
Last Year:9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
26 28 44 44 44 44 44 44 54 54 54 54 54
Reserves 172 220 573 624 688 730 767 648 897 993 1,098 1,185 1,205
Borrowings 440 664 761 833 857 1,038 948 895 1,071 1,097 1,192 1,090 820
103 145 195 198 226 259 310 390 594 711 685 641 624
Total Liabilities 742 1,057 1,572 1,699 1,815 2,071 2,068 1,977 2,616 2,855 3,029 2,970 2,704
339 460 775 821 853 912 936 753 1,101 1,072 1,089 1,061 1,041
CWIP 10 48 32 38 26 54 26 18 16 22 25 15 20
Investments 16 50 50 50 50 50 50 50 0 0 0 4 4
377 498 715 790 886 1,055 1,056 1,155 1,500 1,762 1,916 1,890 1,638
Total Assets 742 1,057 1,572 1,699 1,815 2,071 2,068 1,977 2,616 2,855 3,029 2,970 2,704

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
67 11 14 117 175 90 267 208 256 155 120 280
-73 -220 -164 -98 -77 -146 -62 -51 -100 -63 -105 -52
11 209 165 -23 -100 62 -203 -156 -163 -88 -37 -229
Net Cash Flow 5 1 15 -4 -2 6 2 1 -6 4 -22 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 13% 11% 10% 12% 11% 9% 11% 13% 13% 13% 11%
Debtor Days 36 37 45 49 51 61 69 65 59 53 51 46
Inventory Turnover 6.09 5.70 5.16 5.42 6.00 5.73 5.08 5.21 5.21 5.20 5.71 4.91

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
62.90 62.90 62.90 62.90 62.90 62.90 62.90 62.90 62.90 62.92 62.96 62.96
1.19 1.35 1.32 1.30 1.48 1.32 1.27 1.16 0.59 0.37 0.68 1.29
2.28 2.40 2.34 2.41 2.39 2.29 2.26 2.31 2.31 2.15 2.71 1.61
33.63 33.35 33.44 33.38 33.23 33.49 33.57 33.62 34.20 33.31 32.19 32.67
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.26 1.47 1.47

Documents