Wednesday, October 27, 2021

Surya Roshni Q2 revenue up 41.6% yoy | Stock outlook

  


Surya Roshni Q2 revenue up 41.6% yoy to Rs1,946cr; PAT up 5.7% yoy

The company reported a sustained revenue growth momentum on YoY basis, primarily led by value-added products and higher steel prices across the businesses.


Surya Roshni Limited, the largest exporter of ERW Pipes, largest producer of ERW GI pipes and one of the largest Lighting Companies in India, has declared its unaudited financial results for the quarter and half year ended September 30, 2021.

The company’s revenue increased 41.6% yoy to Rs1,946cr in Q2FY22 from Rs1,374cr in Q2FY21. EBITDA grew 0.9% yoy to Rs102cr from Rs101cr  0.9%. Profit after Tax (PAT) rose 5.7% yoy to Rs44cr in Q2FY22 from Rs42cr in Q2FY21.

The company’s long-term credit rating upgraded to AA- from A+. Steel Pipes and Strips EBITDA/MT at Rs4,060 a growth of 22.6% YoY for Q2FY22. The company reported a sustained revenue growth momentum on a YoY basis, primarily led by value-added products and higher steel prices (HRC) across the businesses. Further reduced the debt by Rs53cr in Q2FY22 and finance cost has also reduced by 13% in Q2FY22.

Exports contributed 23% to total Steel Pipes business. The volume and value growth is 50% and 178% respectively for Q2FY22.


Stock Outlook 

Avoid fresh position at cmp , stock can test 531  - 554 in downside. Long term intact can be hold.



Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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