1. India Stocks

  2. •

    Basic Materials

  3. •

    Steel
Suraj Limited

Suraj Limited

SURAJLTD.BO
Suraj LimitedIN flagBombay Stock Exchange
222.50
INR
-1.65
- -
4.09BMarket Cap
Suraj Limited
SURAJLTD.BO
(Bombay Stock Exchange)

Recent

price

222.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
123.64
129.24
137.92
123.55
128.92
79.68
101.88
106.26
90.8
90.31
97.16
176.94
193.68
179.6
125.81
110.48
111.85
Revenue per Share
3.5
3.25
3.71
1.91
3.58
0.2
0.22
0.19
0.73
0.5
0.71
1.56
10.7
11.72
7.24
4.07
4.06
Basic EPS, GAAP
1.94
-4.13
7.87
12.86
-1.74
4.14
6.82
6.37
12.33
13.77
15.6
13.73
13.74
3.15
-13.34
4.23
- -
Free Cash Flow per Basic Share
1.32
1.5
1.5
1.5
1.5
1.52
- -
- -
- -
- -
- -
- -
- -
1.5
1.5
1.5
- -
Dividend per Share
25.15
26.5
28.26
28.32
29.91
30.12
30.34
30.04
30.77
31.22
31.93
33.5
44.52
55.83
61.54
64.12
63.98
Book Value per Share
38.98
40.48
42.41
42.57
44.24
44.44
44.67
44.38
45.11
45.56
46.27
47.84
55.14
66.63
72.2
74.81
74.65
Tangible Book Value per Share
19
19
19
19
19
19
19
19
19
19
19
19
19
18
18
18
18
Basic Weighted Avg Shares
2,382
2,490
2,657
2,380
2,483
1,535
1,963
2,047
1,749
1,740
1,872
3,409
3,644
3,298
2,310
2,029
2,059
Sales/Revenue/Turnover
9.7
9.55
9.49
6.7
6.65
6.2
4.93
3.19
6.45
6.04
3.78
1.56
7.45
9.17
7.6
4.36
4.29
Operating Margin (%)
100
102
104
107
73
71
63
64
66
67
69
73
79
94
109
73
73
Depreciation Expense
67
63
71
37
69
4
4
4
14
10
14
30
201
215
133
75
75
Net Income, GAAP
32.81
7.51
32.76
35.99
26.26
23.74
38.3
62.91
- -
38.74
28.58
34.8
29.69
29.96
28.03
30.41
30.42
Effective Tax Rate (%)
2.83
2.51
2.69
1.55
2.77
0.25
0.22
0.18
0.8
0.56
0.73
0.88
5.52
6.53
5.76
3.68
3.63
Profit Margin (%)
211
211
180
121
133
192
224
273
317
349
405
435
440
99
200
297
297
Working Capital
388
292
164
52
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
751
780
817
820
853
857
861
855
869
878
891
922
1,038
1,225
1,330
1,378
1,378
Total Equity
9.02
11.6
8.4
5.15
5.98
3.44
2.91
1.21
- -
3.62
3.19
2.49
13.95
13.49
6.7
3.02
3.02
Return on Invested Capital (%)
12.17
14.27
4.09
5.84
7.35
3.52
2.92
1.89
- -
4.16
5.31
5.77
22.03
19.76
10.59
5.82
5.92
Return on Capital (%)
19.93
12.57
13.55
6.75
12.28
0.68
0.74
0.62
2.4
1.63
2.26
4.76
27.14
23.11
12.35
6.47
6.47
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
439
- -
603
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
18
- -
18
Market Capitalization
5,781
4,601
3,939

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
954
- -
1,144
Cash, Cash Equivalents & STI
2
- -
2
Accounts Receivable, Net
254
- -
367
Inventories
556
- -
629
Total Current Liabilities
670
- -
847
Payables & Accruals
- -
- -
- -
ST Debt
439
- -
603
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.02%
9.23%
3.56%
Free Cash Flow
-56.99%
-149.34%
-131.68%
Net Income, GAAP
90.78%
122.77%
-43.85%
Sales/Revenue/Turnover
6.21%
7.48%
-12.19%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
765
849
931
753
3,298
2025
547
566
636
587
2,310
2026
503
502
619
434
2,029

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.62
2.3
3.67
- -
11.72
2025
3.1
3.52
3.84
-3.22
7.24
2026
1.49
0.45
0.75
1.37
4.07

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.5
2025
- -
- -
- -
- -
1.5
2026
- -
- -
- -
- -
1.5
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Business
Suraj Limited manufactures stainless steel seamless pipes, tubes, U tubes, flanges, and fittings with electro-polishing finish. The company specializes in seamless instrumentation tubes, heat exchanger tubes including U tubes, low-pressure and high-pressure heater tubes, condensers, and heating elements, offering duly annealed and pickled tubes up to 30 meters in length. Suraj Limited serves diverse industries such as pharmaceuticals, dyes and pigments, oil and gas processing, refineries, petrochemicals, power plants, and textiles. It operates primarily in India with two manufacturing plants in Mehsana, Gujarat, and exports its products to more than 70 countries globally. Founded in 1960 and headquartered in Ahmedabad, India, Suraj Limited is recognized as a Government of India export house. Recent developments include continued strategic focus on advanced manufacturing capabilities with state-of-the-art facilities for producing mother pipes from stainless steel round bars sourced domestically, using hot piercing processes followed by cold pilger milling and cold drawing for final seamless pipe production. The company maintains compliance with international standards equivalent to ASME, DIN, EN, NFA, and JIS. Suraj Limited has reinforced its market presence by expanding its product offerings with electro-polished tubes, forged rings, stub ends, and buttweld fittings. The company also recently reported financial performance updates for 2025, reflecting operational resilience amidst market fluctuations. These developments underline Suraj Limited's commitment to quality, environmental health and safety, and global market leadership in stainless steel tubular products.