Shares soared more than 5% on Monday.
On January 2, Surya Roshni Ltd announced that top gain BSE group “A”. Shares of Surya Roshni Ltd closed at Rs 517.5. This is up more than 5% from the previous closing price of Rs 491.5. The share opened at Rs 493.4 and has so far made intraday highs and lows at Rs 518.6 and Rs 493.4 respectively. The company has a market capitalization of Rs 281.5 billion and belongs to the BSE Small Cap Index.
Surya Roshni Ltd operates in two business segments, the Steel Pipes & Strips segment and the Lighting & Durables segment. Approximately 80% of revenue is from the steel pipe and strip segment and the remaining 20% is from other segments. India’s largest exporter of ERW (Electrical Resistance Welding) pipes, leading manufacturer of GI (Galvanized Iron) pipes and his second largest player in the domestic lighting industry.
In 2022, the company achieved excellent performance. In fiscal year 2022, the company’s revenue increased by 39% and net profit increased by 29.5% to a reported Rs 204.92 crore.
For the latest September quarter, the company reported total revenue of Rs 198.4 billion, showing a year-on-year growth of 2%. Net profit for the quarter increased significantly by 55% year-on-year, from Rs 44 million to Rs 68 million in Q2 FY2022.
In terms of shareholding pattern, 62.96% are owned by promoters, 1.18% by FIIs, 0.04% by DIIs, 1.89% by Surya Roshni Employees Welfare Trust and the remaining 33.93% by non-institutional investors.
The stock is trading at a TTM PE of 12.55x with 52-week highs and lows of Rs 868.4 and Rs 336.05 respectively.
