Outcome of Board Meeting held on 10th November, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 7.5 pts less than Nifty Microcap 250 and 7.7 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Suraj Products Ltd reported a weak Q2 FY26 with revenue from operations falling 22.4% year-on-year to Rs 5,869.35 lakhs (from Rs 7,567.81 lakhs in Q2 FY25). Profit after tax declined about 50.6% YoY to Rs 320.38 lakhs. For the half-year (H1 FY26), revenue dropped 17.2% to Rs 13,938.93 lakhs and PAT fell around 41% to Rs 779.51 lakhs compared to the same period last year. EBITDA margin compressed from roughly 14% in Q2 FY25 to about 10.4% in Q2 FY26, reflecting weaker operating leverage. The company also published consolidated results for the first time, including its wholly-owned UAE subsidiary (Suraj Iron & Steel Manufacturers) which is still in pre-operative stage with no revenue. Auditor GARV & Associates issued an unmodified limited review report on both standalone and consolidated results.
Sharply lower revenues and a near halving of profits signal pressure on volumes and pricing in the iron ore segment, which is likely to weigh negatively on near-term investor sentiment. However, the balance sheet remains healthy with low debt, strong equity base of Rs 15,492 lakhs, and positive operating cash flow of Rs 2,247 lakhs in H1.