Surya Roshni rallied 4.81% to Rs 566 after the company announced that it had secured multiple orders totaling of Rs 214.68 crore from Hindustan Petroleum Corporation (HPCL) and domestic entity.
HPCL has placed an order worth Rs 106.01 crore. The said order involves the supply of 8 inch API 5L PSL-2, X52 grade 3LPE coated line pipes. These pipes will be used for projects in Jaipur, Rajasthan, and Ranchi, Jharkhand. The completion of the order is expected within 40 weeks.A domestic entity has placed an order worth Rs 108.67 crore. This order includes the supply of food-grade epoxy-coated, spirally welded HSAW MS pipes for a project in Madhya Pradesh. The order is expected to be fulfilled within 15 weeks.
Surya Roshni is a diversified Indian company with a strong presence in the steel pipes & strips and lighting & consumer durables businesses. The company has grown to become the largest manufacturer of GI pipes in India and a major exporter of ERW pipes. In addition to steel products, Surya Roshni offers a wide range of lighting solutions, including conventional and LED lighting, as well as consumer durables like fans and home appliances.
On a consolidated basis, net profit of Surya Roshni fell 55% to Rs 34 crore on 20% decline in net sales to Rs 1,529 crore in Q2 September 2024 over Q2 September 2023.
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