Surya Roshni: Multibagger Stock Secures Rs 72Cr LED Street Light Order from Odisha Govt Order Book Brightens to Rs 795Cr

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Surya Roshni Ltd: A Beacon of Growth in the Indian Market


Table of Contents

  1. Introduction
  2. Recent Developments
  3. Stock Performance
  4. Company Overview
  5. Financial Performance
  6. Investor's Corner
  7. Conclusion
  8. Disclaimer

Surya Roshni: Multibagger Stock Secures Rs 72Cr LED Street Light Order

Surya Roshni Ltd won a Rs 72cr order from Odisha Govt for LED street lights. Shares rose 1% on Jan 4. Current order book is Rs 795cr.

Introduction

Surya Roshni Ltd, a company incorporated in 1973, has emerged as a leading player in India's ERW Pipes export market, GI Pipes production, and the lighting segment. With a focus on developing a value-added product mix, the company has shown consistent growth over the years.

Recent Developments

The company recently announced that it has secured an order amounting to Rs 72 crore (inclusive of GST) from the Odisha Urban Infrastructure Development Fund (OUIDF), Government of Odisha. This order includes the project and maintenance of LED public street lighting in 16 ULBs in Balasore, Jajpur, Keonjhar, and Mayurbhanj districts in the state of Odisha.

Stock Performance

Today, shares of Surya Roshni surged by 4.41 per cent to Rs 787.50 per share from its previous closing of Rs 754.20. The stock’s 52-week high is Rs 838.20 per share, and its 52-week low is Rs 275.68 per share.

Company Overview

Surya Roshni Ltd is the largest exporter of ERW Pipes and the largest producer of GI Pipes in India. It also holds the second-largest position in the lighting segment. The company's focus is on developing a value-added product mix, including 3LPE Coated pipes and Alkyd pipes. The company has a market cap of over Rs 8,500 crore and has delivered a good profit growth of 25.4 per cent CAGR over the last 5 years.

Financial Performance

In its recent quarterly results, the net sales decreased by 3.45 per cent to Rs 1,915.73 crore, while the net profit increased by 11.71 per cent to Rs 76.01 crore in Q2FY24 compared to Q2FY23. The net sales increased by 3.44 per cent to Rs 7,996.71 crore, and the net profit increased by 63.73 per cent to Rs 335.52 crore in FY23 compared to FY22.

Investor's Corner

As of September 2023, the company has an order book of Rs 795 crore. Ace investor Mukul Agrawal owns a 1.47 per cent stake in the company as of October 2023. The stock gave multibagger returns of 180 per cent in just 1 year, whereas the BSE Small-Cap Index is up by 52 per cent. Investors should keep an eye on this stock.

Conclusion

Surya Roshni Ltd has shown consistent growth and resilience in the market. With its recent order from the Government of Odisha and its strong financial performance, it continues to shine brightly in the Indian market. The company's focus on value-added products and its robust order book indicate a promising future. Investors looking for multibagger returns should certainly keep an eye on this stock.

Disclaimer

This blog post is for informational purposes only and should not be taken as investment advice. Before making any investment decisions, we recommend you consult with a financial advisor or do your own research.

Keyword: Surya Roshni Ltd, Odisha Urban Infrastructure Development Fund, Government of Odisha, LED Public Street Lighting, Balasore, Jajpur, Keonjhar, Mayurbhanj, Stock Performance, ERW Pipes, GI Pipes, Lighting Segment, Value-Added Product Mix, 3LPE Coated Pipes, Alkyd Pipes, Market Cap, Profit Growth, Quarterly Results, Net Sales, Net Profit, Order Book, Mukul Agrawal, Multibagger Returns, BSE Small-Cap Index, Investors

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