Surya Roshni Limited — Investor Meet, 17-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Surya Roshni delivered Q3 FY26 revenue of ₹1,927 crore (3% YoY) and PAT of ₹80 crore, with ₹245 crore net cash. Steel segment faced inventory loss & API degrowth but restocking is boosting Q4. Lighting & Durables grew, driven by new products & projects.

Management targets FY27 Steel volumes of 11 lakh tonnes (EBITDA ₹540-550 crore) and Lighting turnover of ₹2,100 crore (EBITDA ₹200 crore), eyeing total EBITDA of ₹750 crore. A major boost comes from ONGC's approval for ERW pipes. Management is confident in these goals and will evaluate demerger and higher shareholder payouts.