Surya Roshni (SURYAROSNI) had a P/E of 15.1× on 6 Nov 2026, below the industry P/E of 19.9×, and the shares are 31% below their 52-week high. Sales and net profit fell 2.0% and 5.2% a year over 3 years, with ROCE of 15% and ROE of 11%. It carries very little debt, and its dividend yield is 2.3%. It is a small-cap company with a market cap of ₹4,717 Cr, ranked 31st of 150 Steel companies by market cap; the shares fell 28% over the past year.
- ₹218.00
- ₹218.00
- ₹212.01
- ₹218.92
- 3.8 L
Health check
- ReturnsBehind
−27.8% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 15.1 vs industry 19.9.
- GrowthShrinking
Sales −2.0%, profit −5.2% a year over 3 years.
- ProfitabilityAverage
ROCE 14.9% vs peer median 18.7%.
- Balance sheetStretched
Practically debt-free, Piotroski 2 of 9.
- Red flags1 to check
31% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹4,717 Cr
- Small cap
- P/E
- 15.1
- Industry 19.9
- Price to book
- 1.79
- Peers 2.28
- Dividend yield
- 2.28%
- ROE
- 11.2%
- Peers 23.4%
- ROCE
- 14.9%
- Peers 18.7%
- Debt to equity
- 0.03
- Debt ₹80 Cr
- EPS (TTM)
- ₹14.32
- Face value ₹5
- OPM (TTM)
- 6.6%
- Net margin 3.9%
- Sales growth
- +27.5%
- Latest quarter vs a year ago
- Profit growth
- +77.2%
- Latest quarter vs a year ago
- Price to sales
- 0.59
- EV/EBITDA 8.2
Strengths and risks
Strengths
- Practically debt-free.
- Dividend yield of 2.28%.
- Quarterly profit up 77.2% on a year ago.
- Quarterly sales up 27.5% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 31% below its 52-week high.
About Surya Roshni
Surya Roshni Limited manufactures and sells steel pipes and strips, and lighting and consumer durables in India. The company offers GI pipes for agriculture and irrigation, casing and tubing, water transportation/plumbing and pipelines, green houses, firefighting, street light poles, and solar panels; API/3LPE coated spiral pipes for oil and gas, and water transportation, and city gas distribution; CR strips; hollow section pipes; spiral welded pipes;…
- Headquarters
- New Delhi
- Employees
- 3,319
- Sector
- Basic Materials
- ISIN
- INE335A01020
- Website
- surya.co.in
Price range
- Avg volume (3M)
- 5.4 L
- 1-year return
- minus 27.8%
- From 52-week high
- minus 31.1%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| SURYAROSNISurya Roshni | 216.76 | minus 0.99% | 4,717 | 15.1 | 8.9 | 14.9% | 6.6% | 0.03 | −2.0% | minus 27.8% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,605 | 1,845 | 1,927 | 2,163 | 2,046 | |
| 1,535 | 1,727 | 1,783 | 2,009 | 1,934 | |
| 69.8 | 118 | 145 | 154 | 112 | |
| 4.3% | 6.4% | 7.5% | 7.1% | 5.5% | |
| 12.8 | 22.5 | 2.8 | 15.9 | 8 | |
| 5.1 | 9.1 | 7.1 | 6.4 | 5.3 | |
| 31.8 | 32.1 | 33.2 | 32.9 | 34.3 | |
| 45.7 | 99.6 | 107 | 131 | 80.7 | |
| 26.4% | 25.5% | 25.8% | 25.0% | 26.1% | |
| 33.6 | 74.2 | 79.7 | 98.3 | 59.6 | |
| 1.55 | 3.41 | 3.66 | 4.51 | 2.74 |
Profit & loss
- Sales CAGR 3Y
- −2.0%
- Profit CAGR 3Y
- −5.2%
- EPS CAGR 3Y
- −5.2%
- ROE
- 11.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7,975 | 7,762 | 7,385 | 7,500 | |
| – | minus 2.7% | minus 4.9% | +1.6% | |
| 7,360 | 7,186 | 6,803 | 7,010 | |
| 615 | 576 | 582 | 490 | |
| 7.7% | 7.4% | 7.9% | 6.5% | |
| −1.5 | 6.9 | 22.3 | 45 | |
| 38.1 | 21.9 | 19 | 25 | |
| 115 | 117 | 123 | 130 | |
| −0.8 | 1.7 | 3 | 3.6 | |
| 459 | 445 | 465 | 384 | |
| 26.9% | 26.0% | 25.5% | 25.5% | |
| 336 | 329 | 347 | 286 | |
| – | minus 1.9% | +5.3% | minus 17.5% | |
| 15.41 | 15.13 | 15.93 | 13.13 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 53.8 | 54.2 | 109 | 109 | |
| 1,810 | 2,112 | 2,356 | 2,525 | |
| 418 | 16 | 16.3 | 79.8 | |
| 776 | 739 | 752 | 832 | |
| 3,057 | 2,922 | 3,234 | 3,545 | |
| 921 | 874 | 902 | 928 | |
| 8.5 | 41.3 | 63.7 | 45.3 | |
| – | 25 | 50 | – | |
| 1.1 | 45 | 296 | 452 | |
| 2,127 | 1,936 | 1,923 | 2,120 | |
| 3,057 | 2,922 | 3,234 | 3,545 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 280 | 546 | 395 | 401 | |
| −33.2 | −51.5 | −329 | −284 | |
| −246 | −461 | −80.3 | −91.8 | |
| 0.9 | 33.9 | −15 | 24.5 | |
| −36.4 | −61.9 | −151 | −160 | |
| 244 | 484 | 244 | 241 | |
| −38.1 | −49 | −54.4 | −120 |
Shareholding pattern
- Promoters63.02%
- Public36.98%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 63.02% | 36.98% | 0.00 | |
| 30 Jun 2026 | 63.02% | 36.98% | plus 0.02 | |
| 31 Mar 2026 | 63.00% | 36.99% | plus 0.11 | |
| 31 Dec 2025 | 62.89% | 37.10% | plus 0.42 | |
| 30 Sep 2025 | 62.47% | 37.52% | – |
Major shareholders
Filings & events
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