SURYA ROSHNI LTD

Manufactures steel tubes and pipes under the Steel Pipes and Strips segment, which generated ₹5,731.22 crore or 76% of segment revenue in FY26. This segment supplies hot rolled tubes to standards such as ASTM A500 Grade B/C and recorded its highest-ever quarterly dispatch volumes of 2.6 lakh tonnes in Q4 FY26, with an order book of ₹1,000 crore providing visibility into the first half of FY27. An export order from a North American customer worth US dollar 2.96 million (about ₹28.21 crore) for lightly oiled, prime newly produced hot rolled tubes is scheduled for execution by October 2026. The Lighting and Consumer Durables segment contributed ₹1,809.2 crore or 24% of segment revenue in FY26 and posted its highest-ever quarterly revenue of ₹501 crore in Q4 FY26. Materials are the dominant input at 71.3% of revenue, consistent with the steel-intensive nature of the pipe business, followed by other operating expenses at 10.2% and employee costs at 6.4%. The company carries a net cash surplus of ₹337 crore, had zero outstanding borrowings as of March 31, 2026, and holds a CARE AA Stable rating on long-term bank facilities.