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Surya Roshni

SURYAROSNI NSE
₹206.10 +1.43 (+0.70%)
P/E
14.38
View as Markdown
MCP
Close 4 Nov 2026 ₹206.10 −88.90 −30.1% 1Y
Start ₹295.00

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
15.60%
Debt to Equity
0.03
EPS (TTM)
₹14.33
Book Value
₹121.01
Market Cap
—
P/E (TTM)
14.38
P/B
1.70
ROE
10.90%
Dividend Yield
2.44%
EBITDA
₹541 Cr
52W High
₹314.50
52W Low
₹187.35
Day Range
₹203.41 – ₹208.35
Volume
3,70,603

Peer Comparison

Industrials › Industrial Products › Iron & Steel Products

Surya Roshni peer comparison
Welspun Corp
₹2,400.0027.41₹60,980 Cr5.960.22%19.40%22.90%₹17,300 Cr₹2,319 Cr
APL Apollo Tubes
₹2,199.8049.69₹60,246 Cr10.640.39%25.40%31.80%₹23,065 Cr₹1,229 Cr
Shyam Metalics & Energy
₹1,231.4030.60₹34,478 Cr2.780.15%9.70%13.00%₹19,584 Cr₹1,121 Cr
Ratnamani Metals & Tubes
₹2,449.4039.67₹17,025 Cr4.180.42%12.60%17.90%₹4,314 Cr₹514 Cr
Jindal SAW
₹253.2229.51₹15,754 Cr1.280.81%8.20%10.40%₹18,501 Cr₹498 Cr
Usha Martin
₹486.0029.21₹14,245 Cr4.490.81%15.10%19.50%₹3,837 Cr₹508 Cr
Gallantt Ispat
₹529.1529.28₹12,939 Cr3.660.38%15.60%18.20%₹4,437 Cr₹436 Cr
Surya Roshni (this company)
₹206.1014.38₹4,462 Cr1.702.44%10.90%15.60%₹7,982 Cr₹312 Cr
Median 8 companies₹880.2829.40₹16,390 Cr3.920.41%13.85%18.05%₹12,641 Cr₹511 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
56
Good
Returns, margins, earnings quality 22% weight
Valuation
82
Strong
Cheap vs sector & own history 24% weight
Growth
41
Weak
Sales & profit trajectory 9% weight
Financial Health
76
Strong
Solvency, leverage, coverage 9% weight
Momentum
22
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.7%

Weaknesses

2
  • The company has delivered a poor sales growth of 6.28% over past five years.
  • Company has a low return on equity of 13.7% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsNeutral171
Moving AveragesStrong Bearish901

Key readings

RSI (14)
45.63
Neutral
MACD (12,26,9)
−2.91
Bullish
SMA (50)
213.50
Bearish
SMA (200)
232.30
Bearish

As of

Analyst Rating

Based on 1 analysts
HOLD100%

0 of 1 analyst rates Buy, 1 Hold, 0 Sell.

As of

BUY
0
0%
HOLD
1
100%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.79%
5Y+6.28%
3Y−1.94%
1Y+1.40%
TTM+11.65%

Net profit

Net profit growth by window
10Y+15.62%
5Y+12.60%
3Y−5.23%
1Y−17.58%
TTM+8.33%

Operating cash flow

Operating cash flow growth by window
10Y+6.78%
5Y−5.78%
3Y+12.72%
1Y+1.52%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−1.74 pp
5Y−0.36 pp
3Y−1.22 pp
1Y−1.33 pp
TTM−0.34 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2016₹2,964 Cr
Mar 2017₹3,145 Cr
Mar 2019₹5,975 Cr
Mar 2020₹5,471 Cr
Mar 2021₹5,561 Cr
Mar 2022₹7,731 Cr
Mar 2023₹7,997 Cr
Mar 2024₹7,809 Cr
Mar 2025₹7,436 Cr
Mar 2026₹7,540 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2016₹67.00 Cr
Mar 2017₹72.00 Cr
Mar 2019₹121 Cr
Mar 2020₹103 Cr
Mar 2021₹158 Cr
Mar 2022₹205 Cr
Mar 2023₹336 Cr
Mar 2024₹329 Cr
Mar 2025₹347 Cr
Mar 2026₹286 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹174 Cr +45.0% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Surya Roshni Ltd trades at a market cap of ₹5,793 Cr with a PE of 20x and near-zero debt. The company has delivered strong long-term profit CAGR of 16% over 10 years but faces recent headwinds with TTM profit declining 17% and sales growth stalling at 1% TTM.

Bull Case 7
  • Company is almost debt-free, providing significant financial flexibility and low interest burden
  • 10-year compounded profit growth of 16% demonstrates long-term earnings power
  • 10-year stock CAGR of 20% reflects sustained long-term wealth creation
  • 5-year compounded profit growth of 13% indicates medium-term profitability trajectory
  • Healthy dividend payout ratio of 29.7% signals shareholder-friendly capital allocation
  • Price-to-book of 2.18x is reasonable for an industrial company with near-zero debt
  • 5-year compounded sales growth of 6% alongside 13% profit growth suggests margin expansion over the medium term
Bear Case 8
  • TTM profit has declined 17%, indicating significant near-term earnings pressure
  • TTM sales growth of just 1% signals demand stagnation or pricing headwinds
  • 3-year compounded sales growth is negative at -2%, showing revenue contraction over a meaningful period
  • ROE has declined from 15% (5-year average) to 11% in the last year, indicating deteriorating capital efficiency
  • Stock has declined 22% over the past 1 year, reflecting negative market sentiment
  • 3-year ROE of 14% and last year ROE of 11% show a declining trend in returns on equity
  • 3-year compounded profit growth is negative at -5%, suggesting recent earnings erosion
  • 5-year sales CAGR of only 6.28% reflects structurally slow top-line growth for an industrial business

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Limited recent news flow for Surya Roshni. The confirmation of zero promoter pledges is a routine but reassuring governance signal. With no material headwinds or catalysts in the current news cycle, the stock's near-term direction will likely depend on broader sector trends and upcoming quarterly results.

Neutral 1
  • Zero promoter share pledges Jun 20

    Surya Roshni filed annual declaration confirming no encumbrance by promoters for FY ended 31 Mar 2026, indicating clean promoter holdings.

Quarterly Results

₹ Cr
SURYAROSNI quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,875
1,916
1,938
2,080
1,893
1,529
1,868
2,146
1,605
1,845
1,927
2,163
2,046
Expenses
1,761
1,778
1,783
1,915
1,742
1,453
1,718
1,943
1,535
1,727
1,783
2,009
1,934
Operating Profit
114
137
155
166
151
76
150
202
70
118
145
154
112
OPM %
6%
7%
8%
8%
8%
5%
8%
9%
4.3%
6%
8%
7%
5%
Other Income
2
2
4
7
8
7
6
9
13
23
3
16
8
Interest
6
6
7
4
5
6
5
5
5
9
7
6
5
Depreciation
29
29
30
29
30
31
30
31
32
32
33
33
34
PBT
81
104
121
139
123
46
121
175
46
100
107
131
81
Tax %
27%
27%
26%
25%
25%
26%
26%
26%
26%
26%
26%
25%
26%
Net Profit
59
76
90
104
92
34
90
130
34
74
80
98
60
EPS (₹)
2.72
3.49
4.14
4.78
4.25
1.57
4.13
5.98
1.55
3.41
3.66
4.52
2.74

Profit & Loss

₹ Cr
SURYAROSNI profit and loss, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,994
3,507
2,964
3,145
5,975
5,471
5,561
7,731
7,997
7,809
7,436
7,540
7,982
Expenses
2,763
3,197
2,722
2,916
5,603
5,117
5,182
7,288
7,383
7,237
6,857
7,053
7,452
Operating Profit
231
310
243
230
372
354
379
443
614
572
579
487
530
OPM %
8%
9%
8%
7%
6%
6%
7%
6%
8%
7%
8%
6%
7%
Other Income
1
1
2
1
4
3
5
6
5
14
30
54
49
Interest
116
145
96
88
115
114
70
64
45
24
21
28
28
Depreciation
60
85
61
56
89
103
103
108
115
117
123
130
133
PBT
56
82
87
87
172
140
211
277
459
445
465
384
419
Tax %
7%
6%
27%
24%
30%
27%
25%
26%
27%
26%
26%
26%
—
Net Profit
52
73
67
72
121
103
158
205
336
329
347
286
312
EPS (₹)
2.98
4.19
3.83
4.08
5.55
4.71
7.28
9.42
15.42
15.13
15.93
13.13
14.33
Div. Payout %
0%
24%
7%
9%
9%
11%
10%
10%
11%
16%
35%
38%
—

Balance Sheet

₹ Cr
SURYAROSNI balance sheet, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
44
44
44
44
54
54
54
53
54
54
109
109
Reserves
684
693
660
723
1,097
1,185
1,314
1,494
1,810
2,112
2,356
2,525
Borrowings
1,186
1,196
895
886
1,192
1,090
732
593
418
16
16
80
Other Liabilities
285
362
390
465
685
641
842
974
776
739
752
832
Total Liabilities
2,200
2,295
1,990
2,118
3,029
2,971
2,941
3,115
3,057
2,922
3,234
3,545
Fixed Assets
1,159
1,196
753
787
1,089
1,061
1,029
943
912
835
841
892
CWIP
38
26
18
15
25
15
10
53
8
17
57
30
Investments
0
0
63
68
0
0
0
0
0
0
0
0
Other Assets
1,002
1,073
1,155
1,248
1,916
1,895
1,903
2,119
2,136
2,070
2,336
2,623
Total Assets
2,200
2,295
1,990
2,118
3,029
2,971
2,941
3,115
3,057
2,922
3,234
3,545

Cash Flow

₹ Cr
SURYAROSNI cash flow, annual, ₹ crore
Particulars Mar 2012Mar 2013Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
64
254
208
181
120
276
540
285
280
546
395
401
Investing
−194
−108
−51
−84
−105
−48
−66
−54
−33
−51
−329
−284
Financing
122
−155
−156
−105
−37
−229
−475
−231
−246
−461
−80
−92
Net Cash Flow
−7
−8
1
−8
−22
−1
−1
0
1
34
−15
25
Free Cash Flow
−131
145
157
97
15
228
474
231
247
495
254
250
CFO/EBITDA
33
88
95
88
42
89
157
79
63
119
91
107

Ratios

SURYAROSNI financial ratios, annual
Particulars Mar 2012Mar 2013Mar 2016Mar 2017Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
42
47
65
63
51
46
50
42
34
34
44
45
Inventory Days
87
68
79
84
66
80
74
59
68
66
59
64
Days Payable
19
13
36
40
27
26
41
35
24
22
24
31
Cash Conversion Cycle
109
101
108
107
90
101
83
65
78
77
79
78
Working Capital Days
25
25
31
31
28
34
38
33
46
61
63
64
ROCE %
9%
11%
—
11%
—
11%
13%
16%
23%
21%
21%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Surya Roshni insights

68 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 63.02%
  • Public 21.41%
  • Others 9.80%
  • FIIs 4.27%
  • DIIs 1.50%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Surya Roshni

What does Surya Roshni Ltd do?
Surya Roshni Limited incorporated in 1973 has emerged as India’s largest ERW Pipes exporter, largest GI Pipes producer, and the second largest in the lighting segment. Its focus is on developing the value-added product mix (3LPE Coated pipes, Alkyd pipes, etc.)
Where is Surya Roshni Ltd (SURYAROSNI) listed?
Surya Roshni Ltd trades as SURYAROSNI on the NSE and under code 500336 on the BSE.
Which sector does Surya Roshni Ltd belong to?
Surya Roshni Ltd is classified under the Industrial Products sector, in the Iron & Steel Products industry.
What is the PE ratio of Surya Roshni Ltd?
Surya Roshni Ltd trades at a PE ratio of 14.38 as of 4 Nov 2026, on earnings per share of ₹14.33, against a book value of ₹121.01 per share.
What is the 52-week high and low of Surya Roshni Ltd?
Over the last 52 weeks Surya Roshni Ltd has traded between ₹187.35 and ₹314.5 as of 4 Nov 2026.
Does Surya Roshni Ltd pay dividends?
Surya Roshni Ltd has a dividend yield of 2.44%.
What is the Return on Equity (ROE) of Surya Roshni Ltd?
Surya Roshni Ltd reported a return on equity of 10.90%. Its debt-to-equity ratio is 0.03.

Company Information

Surya Roshni Limited incorporated in 1973 has emerged as India’s largest ERW Pipes exporter, largest GI Pipes producer, and the second largest in the lighting segment. Its focus is on developing the value-added product mix (3LPE Coated pipes, Alkyd pipes, etc.)

Website surya.co.in
CEO Mr. Jai Prakash Agarwal B.Com.
Employees 3,328
Listed 10 May 1995
Face Value ₹5

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