Surya Roshni Ltd

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Surya Roshni Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Surya Roshni Ltd

₹ 219 -0.08%
20 Aug - close price
surya.co.in BSE: 500336 NSE: SURYAROSNI
About

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.) [1]

Key Points

Business Segments:[1]
a) Steel Pipes & Strips (76% in FY26 vs 77% in FY25):[2][3][4]
The company manufactures Structural Pipes, GI Pipes, API Grade & Spiral Pipes, Black, and CR Strips for applications in various segments such as agriculture, infrastructure, oil & gas, water, and construction. Its products are marketed under the Prakash Surya brand and exported to over 50 countries, with a foothold in the Gulf Cooperation Council nations. It has a network of 21,000+ dealers and retailers supported by 250+ distributors in this segment. It holds an estimated 10% market share in oil & gas transmission pipes, including Cross Country Land Pipes and City Gas Distribution (CGD). It is the country’s largest exporter of ERW pipes, including GI and black pipes.

Website BSE NSE
  • Market Cap ₹ 4,751 Cr.
  • Current Price ₹ 219
  • High / Low ₹ 314 / 187
  • Stock P/E 15.2
  • Book Value ₹ 121
  • Dividend Yield 2.29 %
  • ROCE 15.6 %
  • ROE 10.9 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.6%

Cons

  • The company has delivered a poor sales growth of 6.30% over past five years.
  • Company has a low return on equity of 13.8% over last 3 years.

* 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 Total Market BSE Industrials BSE 1000 Nifty Smallcap 500 Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
1,875 1,916 1,938 2,080 1,893 1,529 1,868 2,146 1,604 1,845 1,927 2,163 2,046
1,761 1,778 1,783 1,915 1,742 1,452 1,718 1,943 1,535 1,727 1,782 2,009 1,934
Operating Profit 114 137 155 166 151 76 150 202 70 118 145 154 112
OPM % 6% 7% 8% 8% 8% 5.0% 8% 9% 4.3% 6% 8% 7% 5%
2 1 4 7 8 9 6 9 13 23 3 16 8
Interest 6 6 7 4 5 6 5 5 5 9 7 6 5
Depreciation 29 29 30 29 30 31 30 31 32 32 33 33 34
Profit before tax 81 103 121 139 123 48 121 175 46 100 107 131 81
Tax % 27% 27% 26% 25% 25% 25% 26% 26% 26% 26% 26% 25% 26%
59 76 90 104 92 36 90 130 34 74 80 98 59
EPS in Rs 2.71 3.49 4.14 4.77 4.25 1.66 4.13 5.98 1.54 3.41 3.66 4.51 2.73
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
2,778 2,964 3,887 4,938 5,980 5,469 5,554 7,730 7,996 7,809 7,435 7,540 7,982
2,555 2,722 3,574 4,592 5,608 5,115 5,177 7,288 7,382 7,236 6,856 7,053 7,452
Operating Profit 224 243 313 346 372 354 377 442 614 572 579 487 530
OPM % 8% 8% 8% 7% 6% 6% 7% 6% 8% 7% 8% 6% 7%
3 2 1 3 4 3 5 6 5 14 31 54 49
Interest 109 96 113 105 115 114 70 64 45 24 21 28 28
Depreciation 56 61 84 87 89 103 103 108 115 117 123 130 133
Profit before tax 62 87 118 156 173 139 209 276 459 445 467 383 418
Tax % 12% 27% 27% 31% 30% 27% 25% 26% 27% 26% 25% 26%
54 63 86 108 121 102 156 205 335 329 348 286 311
EPS in Rs 3.08 3.60 4.92 4.97 5.56 4.70 7.19 9.40 15.41 15.11 16.01 13.12 14.31
Dividend Payout % 8% 7% 9% 10% 9% 11% 10% 10% 11% 16% 34% 38%
Compounded Sales Growth
10 Years: 10%
5 Years: 6%
3 Years: -2%
TTM: 12%
Compounded Profit Growth
10 Years: 16%
5 Years: 12%
3 Years: -6%
TTM: 8%
Stock Price CAGR
10 Years: 17%
5 Years: 11%
3 Years: 2%
1 Year: -22%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 14%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 44 44 54 54 54 54 54 53 54 54 109 109
Reserves 767 648 897 993 1,098 1,185 1,312 1,492 1,807 2,109 2,355 2,523
948 895 1,071 1,097 1,192 1,090 732 593 418 16 16 80
310 390 594 711 685 641 842 974 776 739 752 832
Total Liabilities 2,068 1,977 2,616 2,855 3,029 2,970 2,939 3,112 3,054 2,919 3,233 3,544
936 753 1,101 1,072 1,089 1,061 1,029 943 912 835 841 892
CWIP 26 18 16 22 25 15 10 53 8 17 57 30
Investments 50 50 0 0 0 4 4 4 4 4 4 4
1,056 1,155 1,500 1,762 1,916 1,890 1,896 2,112 2,130 2,063 2,331 2,618
Total Assets 2,068 1,977 2,616 2,855 3,029 2,970 2,939 3,112 3,054 2,919 3,233 3,544

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
267 208 256 155 120 280 540 285 279 540 393 401
-62 -51 -100 -63 -105 -52 -66 -54 -33 -51 -328 -284
-203 -156 -163 -88 -37 -229 -475 -231 -246 -454 -80 -92
Net Cash Flow 2 1 -6 4 -22 -1 -1 -0 -0 34 -15 24
Free Cash Flow 204 157 158 90 15 232 474 231 246 489 253 250
CFO/OP 124% 95% 90% 55% 42% 90% 157% 79% 63% 118% 91% 107%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 69 65 59 53 51 47 50 42 34 33 44 45
Inventory Days 70 79 84 80 66 79 74 59 68 66 59 64
Days Payable 31 36 44 39 27 26 41 35 24 22 24 31
Cash Conversion Cycle 108 108 99 93 90 100 82 65 78 77 79 78
Working Capital Days 27 31 30 30 28 34 38 33 45 61 63 64
ROCE % 9% 11% 13% 13% 13% 11% 13% 16% 23% 21% 21% 16%

Insights

In beta
Mar 2018 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Lighting LED Share of Revenue
% of Segment Revenue

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Steel Pipe Installed Capacity
Lakh MTPA
Lighting Retail Outlets
Count
Steel Pipe Order Book
INR Crore
Value-Added Products Share of Steel Volume
% of Steel Volume
Steel Pipe Capacity Utilization
%
Steel Pipe Volumes
Lakh Tons
Steel Pipe Exports Volume
Lakh Tons

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
62.96% 62.96% 62.96% 62.96% 62.96% 62.47% 62.47% 62.47% 62.47% 62.89% 63.00% 63.02%
5.15% 5.26% 5.02% 4.49% 4.87% 4.53% 4.12% 4.67% 4.94% 4.75% 4.68% 3.81%
0.45% 0.52% 0.56% 1.00% 1.03% 1.46% 1.63% 1.69% 1.67% 2.04% 2.10% 1.90%
30.54% 30.63% 31.11% 31.27% 31.02% 31.49% 31.75% 31.15% 30.90% 30.31% 30.20% 31.27%
0.91% 0.62% 0.36% 0.29% 0.12% 0.06% 0.03% 0.02% 0.02% 0.02% 0.01% 0.00%
No. of Shareholders 43,08347,63253,43859,59555,54661,30266,60062,98363,44365,95366,76667,798

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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