This steel pipe manufacturer company was trending today!

This steel pipe manufacturer company was trending today!

by 5paisa Research Team Last Updated: Jan 02, 2023 - 05:28 pm 5.3k Views
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The stock surged 5% on Monday.

On January 2, the market traded in the green. The S&P BSE Sensex closed trading at 61,167.79, up 0.54%, while NIFTY50 closed at 18,197.45, up 0.51%. Regarding sectoral performance, Metal and Telecom were outperformers, while Consumer Durables and Healthcare were among the top losers. Talking about stock-specific action, Surya Roshni Ltd was among the top gainers in BSE group ‘A’.

The shares of Surya Roshni Ltd closed trading at Rs 517.5, up by more than 5% from its previous close of Rs 491.5. The stock opened at Rs 493.4 and so far, has made an intraday high and low of Rs 518.6 and Rs 493.4, respectively. The company has a market capitalisation of Rs 2,815 crore and belongs to BSE small cap index.

 Surya Roshni Ltd operates into two business segments- Steel Pipe and Strips Segment and Lighting and Consumer Durables Segment. About 80% of the revenue comes from Steel Pipe and Strips Segment, while the rest 20% is from the other segment. It is India's top exporter of ERW (Electrical Resistance Welding) pipes, the 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 September quarter, the company reported total revenue of Rs 1984 crore with 2% YoY growth. For the same quarter, the net profit increased significantly by 55% YoY from Rs 44 crore in Q2 FY22 to Rs 68 crore.

About the shareholding pattern, 62.96% is owned by the promoters, 1.18% by FIIs, 0.04% by DIIs, 1.89% by Surya Roshni Employees Welfare Trust, and the rest 33.93% by non-institutional investors.

The stock is trading at a TTM PE of 12.55x and has a 52-week high and low of Rs 868.4 and Rs 336.05, respectively.

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