Surya Roshni Ltd.

•

surya.co.inBSE: 500336NSE: SURYAROSNI

Market Cap₹ 4,703 Cr.

Current Price

High / Low₹ 314 / 187

Stock P/E15.1

Book Value₹ 123

Price to Book1.57

Dividend Yield2.31 %

ROCE15.9 %

ROE11.3 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Steel: 76.0% • Lighting: 24.0%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 77.0% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.39x)
Company has been maintaining a healthy dividend payout of 38.1%
Company comfortably covers its interest (14.8x coverage)
Company has a consistent dividend-paying track record

CONS

Total debt has risen sharply - up 2007.8% year on year
Company has delivered a poor sales growth of 6.3% over past five years
Growth is decelerating - 3Y profit CAGR (-5.2%) trails the 5Y trend (12.8%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsIron & SteelSteel & Iron Products

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	JSWSTEEL	1308.00	12.91	319865.38	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	185.95	21.04	232129.86	2.15	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	184.00	17.79	76001.67	1.28	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2775.65	31.71	73219.05	0.18	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	762.35	19.35	62849.63	0.52	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2198.00	49.66	61029.32	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1086.30	27.00	30322.09	0.41	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	317.60	31.08	20310.78	0.63	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.00	45.47	19681.83	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	537.05	16.75	18924.64	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	252.40	21.07	16992.55	0.40	222.37	2.75	1750.47	32.29	20.20	19.36
12.	SURYAROSNI	216.10	15.08	4703.11	2.31	59.60	77.22	2046.48	27.54	15.93	5.49

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,875	1,916	1,938	2,080	1,893	1,529	1,868	2,146	1,604	1,845	1,927	2,163	20,463
	1,761	1,778	1,783	1,915	1,742	1,452	1,718	1,943	1,535	1,727	1,782	2,009	19,737
Operating Profit	114	137	155	166	151	76	150	202	70	118	145	154	726
OPM %	6.10%	7.17%	7.98%	7.97%	7.97%	4.99%	8.01%	9.43%	4.35%	6.41%	7.52%	7.14%	3.55%
	2	1	4	7	8	9	6	9	13	23	3	16	80
Interest	6	6	7	4	5	6	5	5	5	9	7	6	53
Depreciation	29	29	30	29	30	31	30	31	32	32	33	33	343
Profit before Tax	81	103	121	139	123	48	121	175	46	100	107	131	805
Tax %	27.08%	26.57%	25.56%	25.43%	24.99%	24.66%	25.52%	25.87%	26.36%	25.53%	25.81%	24.97%	26.14%
Net Profit	59	76	90	104	92	36	90	130	34	74	80	98	595
	5.49	7.05	4.17	4.80	4.26	1.66	4.13	5.98	1.54	3.41	3.66	4.52	2.73

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,884	4,931	5,977	5,469	5,554	7,730	7,996	7,809	7,435	7,540	7,982
	3,571	4,585	5,605	5,115	5,177	7,288	7,382	7,236	6,856	7,053	7,492
Operating Profit	313	346	372	354	377	442	614	572	579	487	490
OPM %	8.06%	7.02%	6.22%	6.47%	6.79%	5.72%	7.68%	7.33%	7.79%	6.46%	6.14%
	1	3	4	3	5	6	5	14	31	54	49
Interest	113	105	115	114	70	64	45	24	21	28	28
Depreciation	84	87	89	103	103	108	115	117	123	130	133
Profit before Tax	118	156	173	139	209	276	459	445	467	383	418
Tax %	26.61%	30.80%	29.96%	26.66%	25.17%	25.93%	26.94%	26.03%	25.42%	25.52%	25.54%
Net Profit	86	108	121	102	156	205	335	329	348	286	311
EPS	15.86	19.86	22.22	18.78	28.76	37.60	61.62	30.32	16.01	13.13	—
Dividend Payout %	9.46%	10.07%	9.00%	10.65%	10.28%	10.43%	11.23%	16.49%	34.34%	38.09%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 6%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: 13%
3 Years:: -5%

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: 9%
3 Years:: -5%
1 Year:: -28%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 15%
3 Years:: 14%
Last Year:: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	54	54	54	54	54	53	54	54	109	109
	897	993	1,098	1,185	1,310	1,485	1,792	2,088	2,332	2,500
	1,080	1,108	1,202	1,101	742	599	425	30	44	109
Trade Payables	341	408	350	295	480	594	407	369	364	484
	244	292	325	335	353	381	377	377	384	341
Total Liabilities	2,616	2,855	3,029	2,970	2,939	3,112	3,054	2,919	3,233	3,544
	1,101	1,072	1,089	1,061	1,029	943	912	835	841	892
Capital Work in Progress	16	22	25	15	10	53	8	17	57	30
	0	0	0	4	4	4	4	4	4	4
	655	829	844	913	868	987	1,152	1,086	902	1,005
	0	0	0	0	0	0	0	715	894	934
Cash & Bank	22	25	2	2	1	1	1	45	296	453
	823	908	1,070	976	1,027	1,125	977	217	239	226
Total Assets	2,616	2,855	3,029	2,970	2,939	3,112	3,054	2,919	3,233	3,544

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	283	190	155	319	593	349	384	547	393	401
Cash from Investing	-100	-63	-105	-52	-66	-54	-33	-51	-328	-284
Cash from Financing	-163	-88	-37	-229	-475	-231	-246	-461	-80	-92
	-7	4	-22	-1	-1	-0	-0	34	-15	24

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.96	62.96	62.47	62.47	62.47	62.47	62.89	63.00	63.02
	4.49	4.87	4.53	4.12	4.67	4.94	4.75	4.68	3.81
	1.00	1.03	1.39	1.56	1.69	1.67	2.04	2.10	1.90
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.55	31.14	31.62	31.86	31.17	30.92	30.33	30.22	31.27

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-09-11 - Surya Roshni Limited has informed the Exchange about Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the month ended August, 2026

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Surya Roshni Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Surya Roshni Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-20

Updates

2026-08-20 - Surya Roshni Limited has informed the Exchange regarding 'Physical Letter to Shareholders' providing the weblink and exact pathway of Annual Report 2025-26 and Notice of 53rd AGM

2026-08-19

Shareholders meeting

2026-08-19 - Surya Roshni Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Surya Roshni Limited has informed the Exchange about Transcript

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Surya Roshni Limited has informed the Exchange about Copy of Newspaper Publication - prior notice of 53rd AGM

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Surya Roshni Limited has informed the Exchange about Copy of Newspaper Publication - extract of financial results

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Surya Roshni Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for SURYAROSNI

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Surya Roshni Ltd.

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Free 5nance Account

Name

JSWSTEEL

1308.00

12.91

319865.38

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

185.95

21.04

232129.86

2.15

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

184.00

17.79

76001.67

1.28

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2775.65

31.71

73219.05

0.18

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

762.35

19.35

62849.63

0.52

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2198.00

49.66

61029.32

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1086.30

27.00

30322.09

0.41

3507.30

1106.63

54550.90

1133.35

13.88

14.03

JINDALSAW

317.60

31.08

20310.78

0.63

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2808.00

45.47

19681.83

0.36

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

537.05

16.75

18924.64

0.37

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

252.40

21.07

16992.55

0.40

222.37

2.75

1750.47

32.29

20.20

19.36

SURYAROSNI

216.10

15.08

4703.11

2.31

59.60

77.22

2046.48

27.54

15.93

5.49

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,875

1,916

1,938

2,080

1,893

1,529

1,868

2,146

1,604

1,845

1,927

2,163

20,463

1,761

1,778

1,783

1,915

1,742

1,452

1,718

1,943

1,535

1,727

1,782

2,009

19,737

Operating Profit

114

137

155

166

151

150

202

118

145

154

726

OPM %

6.10%

7.17%

7.98%

7.97%

4.99%

8.01%

9.43%

4.35%

6.41%

7.52%

7.14%

3.55%

Interest

Depreciation

343

Profit before Tax

103

121

139

123

121

175

100

107

131

805

Tax %

27.08%

26.57%

25.56%

25.43%

24.99%

24.66%

25.52%

25.87%

26.36%

25.53%

25.81%

24.97%

26.14%

Net Profit

104

130

595

5.49

7.05

4.17

4.80

4.26

1.66

4.13

5.98

1.54

3.41

3.66

4.52

2.73

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

3,884

4,931

5,977

5,469

5,554

7,730

7,996

7,809

7,435

7,540

7,982

3,571

4,585

5,605

5,115

5,177

7,288

7,382

7,236

6,856

7,053

7,492

Operating Profit

313

346

372

354

377

442

614

572

579

487

490

OPM %

8.06%

7.02%

6.22%

6.47%

6.79%

5.72%

7.68%

7.33%

7.79%

6.46%

6.14%

Interest

113

105

115

114

Depreciation

103

108

115

117

123

130

133

Profit before Tax

118

156

173

139

209

276

459

445

467

383

418

Tax %

26.61%

30.80%

29.96%

26.66%

25.17%

25.93%

26.94%

26.03%

25.42%

25.52%

25.54%

Net Profit

108

121

102

156

205

335

329

348

286

311

EPS

15.86

19.86

22.22

18.78

28.76

37.60

61.62

30.32

16.01

13.13

—

Dividend Payout %

9.46%

10.07%

9.00%

10.65%

10.28%

10.43%

11.23%

16.49%

34.34%

38.09%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

109

897

993

1,098

1,185

1,310

1,485

1,792

2,088

2,332

2,500

1,080

1,108

1,202

1,101

742

599

425

109

Trade Payables

341

408

350

295

480

594

407

369

364

484

244

292

325

335

353

381

377

384

341

Total Liabilities

2,616

2,855

3,029

2,970

2,939

3,112

3,054

2,919

3,233

3,544

1,101

1,072

1,089

1,061

1,029

943

912

835

841

892

Capital Work in Progress

655

829

844

913

868

987

1,152

1,086

902

1,005

715

894

934

Cash & Bank

296

453

823

908

1,070

976

1,027

1,125

977

217

239

226

Total Assets

2,616

2,855

3,029

2,970

2,939

3,112

3,054

2,919

3,233

3,544

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

283

190

155

319

593

349

384

547

393

401

Cash from Investing

-100

-63

-105

-52

-66

-54

-33

-51

-328

-284

Cash from Financing

-163

-88

-37

-229

-475

-231

-246

-461

-80

-92

-7

-22

-1

-0

-15

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

62.96

62.47

62.89

63.00

63.02

4.49

4.87

4.53

4.12

4.67

4.94

4.75

4.68

3.81

1.00

1.03

1.39

1.56

1.69

1.67

2.04

2.10

1.90

Government

0.00

31.55

31.14

31.62

31.86

31.17

30.92

30.33

30.22

31.27

Surya Roshni Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Surya Roshni Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI