After yesterday's Annual General Meeting, shares of Surya Roshni jumped 20% on August 26

After yesterday's Annual General Meeting, shares of Surya Roshni jumped 20% on August 26

Indian Market
by 5paisa Research Team Last Updated: 2022-08-26T12:04:26+05:30

Surya Roshni Ltd is one of India’s largest players in the lighting segment.

Yesterday, the US market closed on a higher note, where NASDAQ ended with a gain of 1.67%. The Indian market is following the same sentiments today. On August 26, at 11:11 am, S&P BSE Sensex is trading at 58940.38, 0.28% higher from its previous close of 58774.72. Regarding sectoral performance, Metal and Consumer Durables remain strong among all other sectors today.

Talking about a stock-specific action, Surya Roshni Ltd is the top gainer among S&P BSE group ‘A’ companies. The company has a market capitalisation of Rs 2488 crore and belongs to BSE small cap index.

The shares of Surya Roshni Ltd are trading at Rs 457.35, up by 20% from its previous close of Rs 381.15. On August 26, the stock opened at Rs 385.16 and so far, has made an intraday high and low of Rs 457.35 and Rs 384.35, respectively.

Surya Roshni Ltd is India's top exporter of ERW (Electrical Resistance Welding) pipes, top manufacturer of GI (Galvanised Iron) pipes, and 2nd largest player in the domestic lighting industry.

In FY22, the company delivered excellent results. For FY22, the company’s revenue increased by 39%, while its net profit jumped by 29.5%, reported at Rs 204.92 crore. For the latest June quarter, the company reported total revenue of Rs 1839 crore with 26.59% YoY growth. However, the net profit decreased by 40.38% YoY from Rs 37.3 crore in Q1 FY22 to Rs 22.24 in Q1FY23. As per the FY22 period ending, the company has ROE and ROCE of 12.03% and 12.65%, respectively.

About the shareholding pattern, 62.96% is owned by the promoters, 0.71% by FIIs, 1.24% by DIIs, 1.99% by Surya Roshni Employees Welfare Trust, and the rest 33.1% by non-institutional investors.

The stock is trading at a TTM PE of 10.92x and has a 52-week high and low of Rs 868.4 and Rs 336.05, respectively.

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