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Surya Roshni Limited

Surya Roshni Limited

SURYAROSNI.NS
Surya Roshni LimitedIN flagNational Stock Exchange of India
257.55
INR
+2.15
- -
56.05BMarket Cap
Surya Roshni Limited
SURYAROSNI.NS
(National Stock Exchange of India)

Recent

price

257.55

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
165.24
172.58
168.77
171.39
161.71
169.07
177.54
224.17
271.37
247.2
256.87
361.28
373.05
359.76
342.19
346.4
346.6
Revenue per Share
4.83
2.98
3.95
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
13.14
Basic EPS, GAAP
-28.96
-13.22
4.77
-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
- -
Free Cash Flow per Basic Share
0.47
0.44
0.87
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
- -
Dividend per Share
17.99
16.89
19.17
21.58
24.72
27.89
27.91
32.01
36.36
40.01
46.03
54.75
67.02
77.83
91.62
5
5
Book Value per Share
48.46
44.02
41.77
44.14
36.7
40.16
43.69
48.12
52.93
56.39
63.36
72.5
87.18
100.32
113.33
120.55
120.61
Tangible Book Value per Share
140
175
175
175
175
175
218
218
218
218
216
213
214
216
217
218
218
Basic Weighted Avg Shares
23,060
30,257
29,590
30,048
28,352
29,642
38,639
48,787
59,061
53,800
55,431
77,117
79,746
77,620
74,359
75,404
75,404
Sales/Revenue/Turnover
5.98
5.65
6.1
5.95
5.91
6.16
6.01
5.47
4.89
4.71
5.06
4.4
6.26
5.91
6.14
4.74
4.74
Operating Margin (%)
547
599
565
556
560
610
836
873
885
1,035
1,027
1,084
1,154
1,173
1,227
1,300
1,300
Depreciation Expense
675
523
692
534
541
673
863
1,080
1,208
1,026
1,583
2,049
3,355
3,292
3,466
2,858
2,858
Net Income, GAAP
5.45
6.53
3.93
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
25.52
Effective Tax Rate (%)
2.93
1.73
2.34
1.78
1.91
2.27
2.23
2.21
2.05
1.91
2.86
2.66
4.21
4.24
4.66
3.79
3.79
Profit Margin (%)
1,812
2,303
2,365
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
17,757
Working Capital
4,983
5,859
3,683
4,010
3,643
3,328
4,006
3,544
3,348
2,700
1,860
677
68
65
80
103
103
LT Debt
6,763
7,718
7,323
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
26,336
Total Equity
10.25
9.01
9.67
8.25
8.53
8.28
9.31
8.75
9.01
7.95
9.48
11.85
16.45
15.17
14.57
10.25
10.25
Return on Invested Capital (%)
12.47
10.01
11.12
10.19
10.4
9.7
10.63
10.13
10.38
9.24
11.14
14.08
20.12
19.48
19.56
27.91
27.91
Return on Capital (%)
30.49
19.12
21.9
14.93
13.33
14.58
15.74
16.57
16.24
12.34
16.99
18.96
25.8
21.16
18.89
27.22
27.22
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
1,137
- -
695
LT Borrowings
- -
- -
- -
LT Finance Leases
99
- -
103
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
218
- -
218
Market Capitalization
62,252
59,854
40,918

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
25,144
- -
25,805
Cash, Cash Equivalents & STI
5,317
- -
5,056
Accounts Receivable, Net
7,924
- -
9,374
Inventories
10,712
- -
10,050
Total Current Liabilities
8,462
- -
8,048
Payables & Accruals
- -
- -
- -
ST Debt
1,137
- -
695
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

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
10.89%
7.41%
1.41%
Total Cash Common Dividend
- -
93.86%
120%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
18,753
19,157
19,378
20,332
77,620
2025
18,932
15,289
18,680
21,458
74,359
2026
16,045
18,452
19,275
21,632
75,404

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.75
3.53
4.17
- -
15.26
2025
4.26
1.57
4.13
5.98
15.95
2026
1.55
3.41
3.66
4.51
13.13

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.27
2025
- -
- -
- -
- -
2.5
2026
- -
- -
- -
- -
5.5
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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.