Surya Roshni Limited

Surya Roshni Limited

195.49
INR
-5.59
(-2.78%)
14.32EPS
18.07P/E
56.31BMarket Cap
Oct 29Next Earn
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
171.39
161.71
169.07
177.54
224.17
271.37
247.2
256.87
361.28
373.05
359.76
339.85
344.69
366.68
Basic EPS, GAAP
3.04
3.08
3.84
3.96
4.96
5.55
4.71
7.34
9.6
15.7
15.26
15.95
13.13
14.32
Free Cash Flow per Basic Share
-3.84
11.4
8.84
7.18
4.06
0.66
10.37
21.88
10.66
11.41
22.45
11.21
11.07
- -
Dividend per Share
0.29
0.3
0.25
0.2
0.3
0.5
0.5
0.88
0.38
1.78
2.27
2.5
5.5
- -
Book Value per Share
44.14
36.7
40.16
54.24
48.12
52.93
56.94
63.76
72.55
86.59
99.85
113.31
121.02
- -
Tangible Book Value per Share
44.14
36.7
40.16
54.24
48.12
52.93
56.39
63.76
72.55
86.59
99.76
113.2
120.58
- -
Basic Weighted Avg Shares
175
175
175
218
218
218
218
216
213
214
216
217
218
218
Sales/Revenue/Turnover
30,048
28,352
29,642
38,639
48,787
59,061
53,800
55,431
77,117
79,746
77,621
73,852
75,003
79,824
Operating Margin (%)
5.95
5.91
6.16
6.01
5.47
4.89
4.71
5.06
4.4
6.26
5.91
6.22
4.8
4.98
Depreciation Expense
556
560
610
836
873
885
1,035
1,027
1,084
1,154
1,173
1,227
1,300
1,325
Net Income, GAAP
534
541
673
863
1,080
1,208
1,026
1,583
2,049
3,355
3,292
3,466
2,858
3,118
Effective Tax Rate (%)
20.51
12.45
27.3
26.61
30.8
29.96
26.72
25.14
25.93
26.94
26.03
25.53
25.52
25.54
Profit Margin (%)
1.78
1.91
2.27
2.23
2.21
2.05
1.91
2.86
2.66
4.21
4.24
4.69
3.81
3.91
Working Capital
2,306
2,380
2,777
3,433
4,311
4,613
5,098
5,857
7,006
9,994
13,437
15,818
17,757
- -
LT Debt
4,010
3,643
3,328
4,006
3,544
3,349
2,700
1,860
677
68
65
80
103
- -
Total Equity
7,739
6,435
7,040
9,509
10,473
11,519
12,392
13,673
15,476
18,636
21,664
24,652
26,336
- -
Return on Invested Capital (%)
2.99
3.15
3.94
3.49
8.52
8.85
7.87
9.35
11.68
16.43
15.22
14.75
10.44
- -
Return on Capital (%)
8.12
8.55
8.41
8.99
8.44
8.73
7.8
9.27
11.58
16.43
15.47
15.47
11.72
- -
Return on Common Equity (%)
7.59
7.63
9.98
10.43
10.81
10.99
8.58
12.15
14.06
19.67
16.34
14.97
11.21
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
695
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
103
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
218
218
218
Market Capitalization
59,895
40,929
56,309

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
25,805
- -
Cash, Cash Equivalents & STI
- -
4,520
- -
Accounts Receivable, Net
- -
9,374
- -
Inventories
- -
10,051
- -
Total Current Liabilities
- -
8,048
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
695
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.36%
14.1%
6.83%
Free Cash Flow
146.48%
0.64%
-1.1%
Net Income, GAAP
18.36%
15.81%
-17.54%
Sales/Revenue/Turnover
10.84%
7.31%
1.56%
Total Cash Common Dividend
- -
93.86%
120%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
18,932
15,289
18,680
21,458
73,852
2026
16,045
18,452
19,275
21,633
75,003
2027
20,465
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
4.26
1.57
4.13
5.98
15.95
2026
1.55
3.41
3.66
4.51
13.13
2027
2.74
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
2.5
2026
- -
- -
- -
- -
5.5
2027
- -
- -
- -
- -
- -

Company Description

CEO
Vinay Surya
Full Time Employees
3,319
Sector
Non-energy minerals
Industry
Steel
Address
Padma Tower - 1 New Delhi DE India 110008
IPO Date
Dec 7, 1994
Business
Surya Roshni Limited is an Indian multinational company engaged in the manufacturing and distribution of lighting solutions, steel pipes, and consumer durable products. The company's primary products include LED lighting fixtures such as LED tubes, batten lights, panel lights, downlighters, and lamps; fans including BLDC and 5-star rated models; steel pipes and tubes including ERW steel pipes, black and galvanized steel tubes, and spiral pipes with advanced coatings; and home appliances such as water heaters and electric ballasts. Surya Roshni caters to diverse market segments including agriculture, infrastructure, oil and gas, construction, and residential lighting and appliances, with operations predominantly in India and export markets in Europe and Canada. The company operates integrated manufacturing plants located in Kashipur (Uttarakhand), Gwalior (Madhya Pradesh), Malanpur, and Bahadurgarh, supported by a research and innovation center in Noida focused on energy-efficient lighting technologies. Founded in 1973, Surya Roshni is headquartered in New Delhi. In terms of recent developments, Surya Roshni has accelerated its green energy initiatives by installing over 3 MWp solar power capacity across its manufacturing facilities in Kashipur and Malanpur, aiming to significantly reduce reliance on grid power and cut operational costs while advancing sustainability goals. The company continues to benefit from a strong order book, including a recent Rs 105 crore order for spiral pipes with 3LPE coating for delivery by March 2026. Financial performance remains robust with revenue growth driven by strong export demand and strategic capacity expansions supported by government-linked production incentive investments. Operational improvements include manpower optimization and productivity enhancements targeting a reduction of fixed costs. The company also made key board level changes with appointments of new independent directors in 2025. Surya Roshni sustains its leadership position as one of India's largest branded lighting manufacturers and leading steel pipe producers, with significant export growth and continued focus on innovation and eco-friendly product development.