Surya Roshni Limited — Updates, 14-11-2024: Press Release

Surya Roshni Limited reported a challenging Q2 FY25, with consolidated revenues of ₹1,529 crore, down 20% YoY, primarily due to sharp declines in HR steel prices and dampened demand in the Steel Pipe segment, which fell 26% to ₹1,135 crore. Despite these setbacks, the Lighting & Consumer Durables segment demonstrated resilience, achieving a 5% YoY revenue increase to ₹395 crore, driven by solid volume growth and successful cost management strategies.

The company is pursuing strategic expansions, including the establishment of a new Spiral plant and ERW mill, expected to bolster future performance. They declared an interim dividend and issued bonus shares to reward shareholders. Operational efficiencies and a focus on high-margin products may cushion against the ongoing price pressures, while a robust order book, particularly in professional lighting and appliances, is anticipated to support growth in upcoming quarters. The management is cautiously optimistic about a 12% revenue growth for FY25, highlighting increased capacity utilization and proactive market strategies.