1. India Stocks

  2. •

    Non-energy minerals

  3. •

    Steel
Surani Steel Tubes Ltd.

Surani Steel Tubes Ltd.

NNSE:SURANI
120.55
INR
-2.95
(-2.39%)
1.61BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
42.72
68.75
80.77
89.62
118.33
147
115.33
126.02
161.22
145.98
169.36
175.63
59.35
- -
Basic EPS, GAAP
-0.04
0.2
1.32
1.21
2.08
-0.22
-5.99
4.7
2.24
-2.16
0.56
0.38
1.32
- -
Free Cash Flow per Basic Share
-7.87
2.99
-0.11
2.94
-1.14
-13.5
-1.24
2.8
5.77
-2.57
-70.12
5.13
7.56
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
2.94
3.13
4.45
5.66
12.57
28.71
22.73
27.43
29.67
27.5
83.08
78.36
79.69
79.69
Tangible Book Value per Share
2.94
3.13
4.45
5.66
12.57
28.71
22.73
27.43
29.67
27.5
83.06
78.35
79.68
79.68
Basic Weighted Avg Shares
8
8
8
8
8
6
8
8
8
8
9
13
16
16
Sales/Revenue/Turnover
354
570
669
742
980
908
955
1,044
1,336
1,209
1,526
2,250
923
- -
Operating Margin (%)
3.13
2.77
4.32
4.17
3.91
0.81
-2.85
5.68
2.63
-2.6
-1.68
0.26
-2.2
- -
Depreciation Expense
3
3
5
4
4
4
13
13
13
9
5
8
9
- -
Net Income, GAAP
- -
2
11
10
17
-1
-50
39
19
-18
5
5
20
- -
Effective Tax Rate (%)
- -
33.44
31.29
43.4
38.19
- -
- -
3.43
2.32
- -
17.12
- -
32.74
- -
Profit Margin (%)
-0.08
0.29
1.64
1.35
1.76
-0.15
-5.19
3.73
1.39
-1.48
0.33
0.22
2.22
- -
Working Capital
29
32
46
29
34
124
71
119
129
186
781
1,096
1,125
1,125
LT Debt
58
58
58
58
36
37
26
21
- -
- -
- -
- -
- -
- -
Total Equity
24
26
37
47
104
238
188
227
246
228
883
1,218
1,239
1,239
Return on Invested Capital (%)
- -
7.87
13.64
10.3
10.69
- -
- -
14.41
8.59
- -
-0.07
- -
-0.25
- -
Return on Capital (%)
- -
7.25
13.73
10.36
10.63
- -
- -
14.53
8.5
- -
0.66
- -
1.46
- -
Return on Common Equity (%)
- -
6.47
34.88
23.85
22.84
-0.8
-23.27
18.75
7.84
-7.57
0.9
0.46
1.67
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
346
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
16
16
16
Market Capitalization
1,612
1,283
1,614

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
1,449
1,126
2,383
Cash, Cash Equivalents & STI
197
191
175
Accounts Receivable, Net
272
14
30
Inventories
318
157
1,434
Total Current Liabilities
353
8
1,258
Payables & Accruals
- -
- -
- -
ST Debt
346
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
60.57%
65.65%
1.69%
Free Cash Flow
22.02%
559.22%
78.71%
Net Income, GAAP
325.52%
-11.75%
321.42%
Sales/Revenue/Turnover
8.32%
6.62%
-58.99%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,526
2025
- -
- -
2,250
2026
- -
- -
923

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.56
2025
- -
- -
0.38
2026
- -
- -
1.32

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Vijay Singla
Full Time Employees
50
Sector
Non-energy minerals
Industry
Steel
Address
Plot No. 241, GIDC Industrial Estate, Chhatral Gandhinagar GU India 382729
IPO Date
Feb 6, 2019
Website
suranisteel.com
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Business
Surani Steel Tubes Ltd manufactures electric resistance welded (ERW) mild steel pipes and tubes, along with mild steel hollow sections and coils. The company produces ERW MS pipes in round, square, and rectangular shapes for applications in plumbing, water supply systems, oil and gas transmission, construction, and infrastructure; mild steel tubes including square, rectangular, and round variants; hot rolled MS coils and mild steel coils; MS structural pipes, seamless pipes, square pipes, and round pipes; and mild steel hollow sections encompassing square and rectangular profiles. Operations are based in India, with a manufacturing facility in Dahegam, Gandhinagar, Gujarat, serving dealers primarily across Gujarat, Rajasthan, Indore, and Mumbai. Founded in July 2012 and headquartered at Survey No. 110/115, Opp. Vinayak TMT, Bayad Road, Village Sampa, Taluka Dahegam, Gandhinagar, Gujarat, the company listed on the NSE SME platform following its initial public offering in 2019. In recent developments, the company underwent significant leadership changes in 2023, with Vijay Singla and Chetan Singla appointed as Managing Director and Joint Managing Director, respectively, effective July 20, 2023, replacing prior executives Dinesh Karshan Patel and Mukesh Patel; these reappointments were confirmed through September 2025. Pavni Singla joined as Additional Director and Chief Financial Officer in August 2023, while independent directors Sangeeta Mehtani, Kailash Garg, and Gurpreet Singh Bhatia were appointed in May 2023; the company also changed its statutory auditors to Anu and Associates in August 2023. In 2025, Company Secretary Mohinder Singh resigned effective August 2 citing personal reasons, and the company reported unaudited half-year results for the period ended September 30, 2025, with revenue of Rs. 5,093.70 lakh and PAT of Rs. 211.34 lakh, including an exceptional gain. The firm continues to expand capacity from 40,000 MTPA toward 300,000 MTPA by 2027, including a new galvanizing plant for GI pipes and larger diameter heavy-thickness pipes to broaden its product range to 600 SKUs.