Reported Earnings • May 26
Full year 2026 earnings released: EPS: ₹13.13 (vs ₹15.95 in FY 2025) Full year 2026 results: EPS: ₹13.13 (down from ₹15.95 in FY 2025). Revenue: ₹75.9b (up 2.1% from FY 2025). Net income: ₹2.86b (down 18% from FY 2025). Profit margin: 3.8% (down from 4.7% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 25
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to ₹217. The fair value is estimated to be ₹296, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Duyuru • May 18
Surya Roshni Limited to Report Q4, 2026 Results on May 25, 2026 Surya Roshni Limited announced that they will report Q4, 2026 results on May 25, 2026 Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹276, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 40% over the past three years. Buy Or Sell Opportunity • Apr 25
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ₹235. The fair value is estimated to be ₹295, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹218, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 24% over the past three years. Reported Earnings • Feb 12
Third quarter 2026 earnings released: EPS: ₹3.66 (vs ₹4.13 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.66 (down from ₹4.13 in 3Q 2025). Revenue: ₹19.3b (up 3.2% from 3Q 2025). Net income: ₹796.9m (down 11% from 3Q 2025). Profit margin: 4.1% (down from 4.8% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Price Target Changed • Feb 12
Price target decreased by 14% to ₹268 Down from ₹312, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₹227. Stock is down 5.8% over the past year. The company is forecast to post earnings per share of ₹15.70 for next year compared to ₹15.95 last year. Duyuru • Feb 03
Surya Roshni Limited to Report Q3, 2026 Results on Feb 11, 2026 Surya Roshni Limited announced that they will report Q3, 2026 results on Feb 11, 2026 Buy Or Sell Opportunity • Jan 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.6% to ₹266. The fair value is estimated to be ₹335, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 26% in a year. Earnings are forecast to grow by 46% in the next year. Buy Or Sell Opportunity • Dec 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.9% to ₹267. The fair value is estimated to be ₹335, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 26% in a year. Earnings are forecast to grow by 46% in the next year. Buy Or Sell Opportunity • Nov 14
Now 20% undervalued Over the last 90 days, the stock has risen 1.9% to ₹275. The fair value is estimated to be ₹344, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 25% in a year. Earnings are forecast to grow by 46% in the next year. Declared Dividend • Nov 13
First half dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 17th November 2025 Payment date: 10th December 2025 Dividend yield will be 2.0%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹3.41 (vs ₹1.57 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.41 (up from ₹1.57 in 2Q 2025). Revenue: ₹18.7b (up 22% from 2Q 2025). Net income: ₹741.9m (up 117% from 2Q 2025). Profit margin: 4.0% (up from 2.2% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 03
Surya Roshni Limited to Report Q2, 2026 Results on Nov 11, 2025 Surya Roshni Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Buy Or Sell Opportunity • Oct 16
Now 20% overvalued Over the last 90 days, the stock has fallen 14% to ₹280. The fair value is estimated to be ₹233, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.2% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 28% in a year. Earnings are forecast to grow by 71% in the next year. Buy Or Sell Opportunity • Sep 24
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to ₹291. The fair value is estimated to be ₹240, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.2% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 28% in a year. Earnings are forecast to grow by 71% in the next year. Upcoming Dividend • Aug 30
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 04 September 2025. Payment date: 18 October 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (2.9%). Board Change • Aug 22
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ravi Gupta was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Aug 21
Now 22% overvalued Over the last 90 days, the stock has fallen 8.5% to ₹299. The fair value is estimated to be ₹245, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.2% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 28% in a year. Earnings are forecast to grow by 71% in the next year. Declared Dividend • Aug 15
Dividend of ₹3.00 announced Shareholders will receive a dividend of ₹3.00. Ex-date: 4th September 2025 Payment date: 18th October 2025 Dividend yield will be 1.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹1.55 (vs ₹4.26 in 1Q 2025) First quarter 2026 results: EPS: ₹1.55 (down from ₹4.26 in 1Q 2025). Revenue: ₹16.0b (down 15% from 1Q 2025). Net income: ₹336.3m (down 64% from 1Q 2025). Profit margin: 2.1% (down from 4.9% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 13
Surya Roshni Limited, Annual General Meeting, Sep 18, 2025 Surya Roshni Limited, Annual General Meeting, Sep 18, 2025, at 12:00 Indian Standard Time. Duyuru • Aug 04
Surya Roshni Limited to Report Q1, 2026 Results on Aug 13, 2025 Surya Roshni Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • May 15
Full year 2025 earnings released: EPS: ₹15.95 (vs ₹15.26 in FY 2024) Full year 2025 results: EPS: ₹15.95 (up from ₹15.26 in FY 2024). Revenue: ₹74.7b (down 4.4% from FY 2024). Net income: ₹3.47b (up 5.3% from FY 2024). Profit margin: 4.6% (up from 4.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 14
Surya Roshni Limited Recommends Final Dividend for the Financial Year Ended 31st March, 2025 Surya Roshni Limited in its Board of Directors Meeting held on May 14, 2025 recommended a final dividend of INR 3/- per equity share of face value of INR 5/- each (60%) for the financial year ended 31st March, 2025. The said dividend, if declared by the members of the Company, shall be credited/dispatched to the shareholders within 30 days of declaration and any further information in this regard including record date etc. shall be given to the stock exchanges in due course. Duyuru • May 10
Surya Roshni Limited to Report Q4, 2025 Results on May 14, 2025 Surya Roshni Limited announced that they will report Q4, 2025 results on May 14, 2025 Board Change • Feb 15
High number of new directors Additional Director & Whole time Director Puja Surya was the last director to join the board, commencing their role in 2025. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹226, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 106% over the past three years. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹4.13 (vs ₹4.17 in 3Q 2024) Third quarter 2025 results: EPS: ₹4.13 (down from ₹4.17 in 3Q 2024). Revenue: ₹18.7b (down 3.3% from 3Q 2024). Net income: ₹899.0m (flat on 3Q 2024). Profit margin: 4.8% (up from 4.6% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 28
Surya Roshni Limited to Report Q3, 2025 Results on Feb 06, 2025 Surya Roshni Limited announced that they will report Q3, 2025 results on Feb 06, 2025 New Risk • Jan 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 14
Now 41% overvalued Over the last 90 days, the stock has fallen 20% to ₹281. The fair value is estimated to be ₹199, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 24% in the next year. Upcoming Dividend • Nov 22
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 29 November 2024. Payment date: 13 December 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (2.7%). Price Target Changed • Nov 19
Price target decreased by 7.9% to ₹604 Down from ₹656, the current price target is provided by 1 analyst. New target price is 6.8% above last closing price of ₹566. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₹37.50 for next year compared to ₹30.51 last year. Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹3.14 (vs ₹7.06 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.14 (down from ₹7.06 in 2Q 2024). Revenue: ₹15.4b (down 20% from 2Q 2024). Net income: ₹341.6m (down 55% from 2Q 2024). Profit margin: 2.2% (down from 4.0% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 25% per year. Duyuru • Nov 14
Surya Roshni Limited Declares an Interim Dividend, Payable on or before December 13, 2024 Surya Roshni Limited announced that at the board meeting held on November 14, 2024, the directors have declared an interim dividend at the rate of 50% on paid-up value of equity shares i.e. INR 2.50 per equity share of INR 5 each of the company on pre-bonus paid-up share capital. The interim dividend shall be paid within 30 days from the date of declaration i.e. on or before 13th December, 2024, to the equity shareholders of the company, whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on the 29th November, 2024, which is the record date fixed for the purpose. Duyuru • Nov 07
Surya Roshni Limited to Report Q2, 2025 Results on Nov 14, 2024 Surya Roshni Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Duyuru • Aug 12
Surya Roshni Limited, Annual General Meeting, Sep 04, 2024 Surya Roshni Limited, Annual General Meeting, Sep 04, 2024, at 12:00 Indian Standard Time. Declared Dividend • Aug 12
Dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 23rd August 2024 Payment date: 4th October 2024 Dividend yield will be 0.8%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: ₹8.52 (vs ₹5.50 in 1Q 2024) First quarter 2025 results: EPS: ₹8.52 (up from ₹5.50 in 1Q 2024). Revenue: ₹19.0b (up 1.4% from 1Q 2024). Net income: ₹924.5m (up 56% from 1Q 2024). Profit margin: 4.9% (up from 3.2% in 1Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 30% per year. Duyuru • Aug 01
Surya Roshni Limited to Report Q1, 2025 Results on Aug 09, 2024 Surya Roshni Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Price Target Changed • May 17
Price target decreased by 7.5% to ₹684 Down from ₹739, the current price target is an average from 2 analysts. New target price is 18% above last closing price of ₹579. Stock is up 44% over the past year. The company is forecast to post earnings per share of ₹37.00 for next year compared to ₹30.51 last year. Reported Earnings • May 15
Full year 2024 earnings released: EPS: ₹30.51 (vs ₹31.39 in FY 2023) Full year 2024 results: EPS: ₹30.51 (down from ₹31.39 in FY 2023). Revenue: ₹78.2b (down 2.2% from FY 2023). Net income: ₹3.29b (down 1.9% from FY 2023). Profit margin: 4.2% (in line with FY 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 15
Surya Roshni Limited Recommends Final Dividend for the Financial Year 2023-24 Surya Roshni Limited announced subject to the approval of the shareholders in the ensuing Annual General Meeting of the company, the Board of Directors has recommended final dividend of INR 2.50 per equity share of INR 5 each for the financial year 2023-24 in addition to Interim Dividend of INR 2.50 per equity share paid in November, 2023. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹576, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 176% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹470 per share. Duyuru • May 08
Surya Roshni Limited to Report Q4, 2024 Results on May 14, 2024 Surya Roshni Limited announced that they will report Q4, 2024 results on May 14, 2024 Buy Or Sell Opportunity • Apr 22
Now 21% overvalued Over the last 90 days, the stock has fallen 26% to ₹561. The fair value is estimated to be ₹464, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹592, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 215% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹463 per share. Buy Or Sell Opportunity • Apr 03
Now 21% overvalued Over the last 90 days, the stock has fallen 25% to ₹572. The fair value is estimated to be ₹474, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Reported Earnings • Feb 12
Third quarter 2024 earnings released: EPS: ₹8.34 (vs ₹8.39 in 3Q 2023) Third quarter 2024 results: EPS: ₹8.34. Revenue: ₹19.4b (down 4.1% from 3Q 2023). Net income: ₹901.0m (flat on 3Q 2023). Profit margin: 4.6% (up from 4.4% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Metals and Mining industry in India. Duyuru • Feb 02
Surya Roshni Limited to Report Q3, 2024 Results on Feb 08, 2024 Surya Roshni Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹774, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 338% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹413 per share. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹576, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 251% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹411 per share. Duyuru • Dec 01
Surya Roshni Limited Announces Resignation of Mr. Tarun Baldua, Chief Executive Officer - Steel Operations Surya Roshni Limited announced that the Company has accepted the resignation of Mr. Tarun Baldua, Chief Executive Officer (CEO) - Steel Operations and the Key Managerial Personnel of the Company from his position w.e.f., November 30, 2023. Mr. Tarun Baldua was on extension post-completion of his superannuation age. He is being relieved with immediate effect. New Risk • Nov 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Duyuru • Nov 03
Surya Roshni Limited Declares Interim Dividend for the Half Year Ended September 30, 2023, Payable on or from November 21, 2023 Surya Roshni Limited announced that at its board meeting held on November 2, 2023, the directors have declared interim dividend at 5% on paid up value of equity shares that is INR 2.50 per equity share of INR 5 each of the company. The interim dividend shall be paid on or from November 21, 2023, to the equity shareholders of the company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on November 10, 2023, which is the Record Date fixed for the purpose. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹7.06 (vs ₹6.38 in 2Q 2023) Second quarter 2024 results: EPS: ₹7.06 (up from ₹6.38 in 2Q 2023). Revenue: ₹19.2b (down 3.4% from 2Q 2023). Net income: ₹760.1m (up 12% from 2Q 2023). Profit margin: 4.0% (up from 3.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 02
Price target decreased by 27% to ₹559 Down from ₹762, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₹547. Stock is up 168% over the past year. The company is forecast to post earnings per share of ₹38.65 for next year compared to ₹31.39 last year. Duyuru • Oct 19
Surya Roshni Limited to Report Q2, 2024 Results on Nov 02, 2023 Surya Roshni Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Duyuru • Sep 16
Surya Roshni Limited Declares Final Dividend for the Financial Year Ended March 31, 2023 Surya Roshni Limited at its AGM held on September 15, 2023, declared final dividend of INR 4.00 per equity share for the financial year ended March 31, 2023. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,128, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 598% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹495 per share. Upcoming Dividend • Aug 18
Upcoming dividend of ₹4.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 15 October 2023. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (7.5%). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹10.99 (vs ₹4.17 in 1Q 2023) First quarter 2024 results: EPS: ₹10.99 (up from ₹4.17 in 1Q 2023). Revenue: ₹18.8b (up 1.9% from 1Q 2023). Net income: ₹591.3m (up 166% from 1Q 2023). Profit margin: 3.2% (up from 1.2% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 12
Surya Roshni Limited, Annual General Meeting, Sep 15, 2023 Surya Roshni Limited, Annual General Meeting, Sep 15, 2023, at 12:00 Indian Standard Time. Duyuru • Jul 28
Surya Roshni Limited to Report Q1, 2024 Results on Aug 11, 2023 Surya Roshni Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: ₹62.78 (vs ₹38.40 in FY 2022) Full year 2023 results: EPS: ₹62.78 (up from ₹38.40 in FY 2022). Revenue: ₹80.0b (up 3.5% from FY 2022). Net income: ₹3.36b (up 64% from FY 2022). Profit margin: 4.2% (up from 2.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 19
Price target increased to ₹830 Up from ₹740, the current price target is an average from 2 analysts. New target price is 36% above last closing price of ₹611. Stock is up 18% over the past year. The company posted earnings per share of ₹38.40 last year. Duyuru • Jan 19
Surya Roshni Limited Declares Interim Dividend, Payable on February 3, 2023 Surya Roshni Limited announced that at the board meeting held on January 18, 2023 have declared interim dividend of INR 3/- per Equity Share of INR 10/- each of the Company. The interim dividend shall be paid on February 3, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on January 27, 2023, which is the Record Date fixed for the purpose. Duyuru • Jan 11
Surya Roshni Limited to Report Q3, 2023 Results on Jan 18, 2023 Surya Roshni Limited announced that they will report Q3, 2023 results on Jan 18, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹12.75 (vs ₹8.31 in 2Q 2022) Second quarter 2023 results: EPS: ₹12.75 (up from ₹8.31 in 2Q 2022). Revenue: ₹19.8b (up 2.0% from 2Q 2022). Net income: ₹680.4m (up 54% from 2Q 2022). Profit margin: 3.4% (up from 2.3% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 12
Surya Roshni Limited Announces Board Appointments The board of directors of Surya Roshni Limited meeting held on November 10, 2022, appointed Tekan Ghanshyam Keswani and Mr. Naresh Agarwal as Independent Directors of the Company for the first term for a period of five consecutive years with effect from 28th October, 2022 and November 4, 2022 respectively. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: ₹12.75 (vs ₹8.31 in 2Q 2022) Second quarter 2023 results: EPS: ₹12.75 (up from ₹8.31 in 2Q 2022). Revenue: ₹19.9b (up 2.1% from 2Q 2022). Net income: ₹680.4m (up 54% from 2Q 2022). Profit margin: 3.4% (up from 2.3% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 11
Surya Roshni Limited Announces Appointment of Jitendra J Agrawal as Chief Executive Officer- Lighting & Consumer Durables Surya Roshni Limited announced appointment of Mr. Jitendra J Agrawal - as the Chief Executive Officer (CEO) - Lighting & Consumer Durables. In his new role, Mr. Jitendra Agrawal will be responsible for the complete Surya Lighting and Consumer Durables businesses. With its strong leadership position in the consumer and professional segments in India, the company will greatly benefit from his insights and experience. Mr. Jitendra Agrawal is a young, dynamic and a renowned professional with 27 year of rich experience in Lighting and Electrical Industry. He joins from Luminous Power Technologies (a 100% subsidiary of French multinational Schneider Electric), where he was a Senior Vice President responsible for their Home Electrical Business. His past experience also includes 19 years at Philips Lndia Limited and 1 year with Kurian. In his last role at Philips, he was their Senior Director, responsible for Professional Lighting. Mr. Agrawal has extensive experience in the field of Business and People Management, Business Strategy, Multi Sales Channels, Product Marketing, Marketing Communication, New Business, Research & Development, Quality and Sourcing. He is an Electrical and Electronics engineer from Mangalore University batch of 1995 and has done his leadership development program from Wharton. Duyuru • Nov 05
Surya Roshni Limited Appoints Naresh Agarwal as Additional Independent Director Surya Roshni Limited has approved the appointment of Mr. Naresh Agarwal as an Additional Director in the capacity as Non-Executive; Independent Director of the Company as per the provisions of Section 161 read with Schedule IV of the Companies Act, 2013 and Regulation I 7(l) and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (referred to as "Listing Regulations"). Date of Appointment: November 4, 2022. Brief Profile: Mr. Naresh Agarwal, aged around 58 years is an energetic and a dynamic person, known for his commitment, sincerity, loyalty and true spirits with deep rooted knowledge in the field of marketing and operations. A committed and a noble man who always look towards the welfare of the society as a whole. With vast business experience of over three decades, he is a fit and proper person for the Industry in which the Company operates. He holds Managing directorship in Santosh Timber Trading Company Limited and directorship in Atlantic Wood Private Limited. Duyuru • Oct 28
Surya Roshni Limited Appoints Mr. Tekan Ghanshyam Keswani as an Additional Director Surya Roshni Limited has approved the appointment of Mr. Tekan Ghanshyam Keswani as an Additional Director in the capacity as Non-Executfve; Independent Director of the Company as per the provisions of Section 161 read with Schedule fV of the Companies Act, 2013 and Regulation 17(I) and other applicable regulations ofSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (referred to as "Listing Regulations"). Date of Appointment October 28, 2022 Mr. Tekan Ghanshyam Keswani, an MBA (Finance) FMS from University ofDelhi and a Fellow member ofInstitute ofChartered Accountants ofIndia from July, 1977 possess wide experience of more than 45 years in Commercial, Administration and Financial fields. He occupied Senior level positions at Jai Prakash Associates, Institute of Chartered Accountants of India, PHD Chamber of Commerce and Industry and other organisations. At present, he is looking as a freelance consultant with Certificate of Practice (COP) under the name T G Keswani and Associates. Company has received the consent letter from the said director. Duyuru • Sep 23
Surya Roshni Limited Approves Dividend for the Financial Year Ended March 31, 2022 Surya Roshni Limited at its AGM held on September 21, 2022 approved to declare final dividend of INR 4.00 per equity share for the financial year ended March 31, 2022. Duyuru • Sep 22
Surya Roshni Limited Announces Tenure Completion of Pramod Jain, Additional Director Surya Roshni Limited announced that Mr. Pramod Jain who was appointed as an Additional Director (Non-Executive Independent) of the Company by the Board on 27th November 2021, ceased to be the director of the Company upon expiry of his tenure i.e. after conclusion of the Annual General Meeting held on September 21, 2022. Duyuru • Sep 07
Surya Roshni Limited Announces Executive Changes Surya Roshni Limited announced executive changes. Mr. Krishan Kumar Narula and Mr. Sudhanshu Kumar Awasthi Independent Directors of the Company have completed the second term of their office on 4th September, 2022. Consequently, both of them ceased to be a Director of the Company with effect from 5th September, 2022. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 26% share price gain to ₹457, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 189% over the past three years. Upcoming Dividend • Aug 25
Upcoming dividend of ₹4.00 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 21 October 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (6.7%). Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹4.17 (vs ₹6.96 in 1Q 2022) First quarter 2023 results: EPS: ₹4.17 (down from ₹6.96 in 1Q 2022). Revenue: ₹18.4b (up 27% from 1Q 2022). Net income: ₹222.4m (down 40% from 1Q 2022). Profit margin: 1.2% (down from 2.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 10
Now 21% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be ₹460, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 24%. Duyuru • Aug 06
Surya Roshni Limited to Report Q1, 2023 Results on Aug 13, 2022 Surya Roshni Limited announced that they will report Q1, 2023 results on Aug 13, 2022 Buying Opportunity • Jul 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be ₹468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 24%. Buying Opportunity • Jun 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₹473, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • May 22
Full year 2022 earnings released: EPS: ₹38.40 (vs ₹29.35 in FY 2021) Full year 2022 results: EPS: ₹38.40 (up from ₹29.35 in FY 2021). Revenue: ₹77.3b (up 39% from FY 2021). Net income: ₹2.05b (up 29% from FY 2021). Profit margin: 2.7% (down from 2.8% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 19% per year. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 17% share price gain to ₹430, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 73% over the past three years. Price Target Changed • Apr 27
Price target decreased to ₹745 Down from ₹855, the current price target is provided by 1 analyst. New target price is 66% above last closing price of ₹450. Stock is up 8.3% over the past year. The company posted earnings per share of ₹29.35 last year. Duyuru • Feb 15
Surya Roshni Limited Announces Management Changes Surya Roshni Limited announced the Board of Directors of the Company at their meeting held on 14th February, 2022, interalia considered and approved the following matters: Approved continuation of employment of Shri Nirupam Sahay as Executive Director & CEO - Lighting of the Company on withdrawal of resignation. Appointment of Ms. Suruchi Aggarwal as an Additional Independent Woman Director. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹7.61 (down from ₹10.37 in 3Q 2021). Revenue: ₹20.3b (up 29% from 3Q 2021). Net income: ₹404.9m (down 27% from 3Q 2021). Profit margin: 2.0% (down from 3.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 08
Surya Roshni Limited to Report Q3, 2022 Results on Feb 14, 2022 Surya Roshni Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹519, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 122% over the past three years. Reported Earnings • Oct 28
Second quarter 2022 earnings released: EPS ₹8.31 (vs ₹7.75 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹19.5b (up 42% from 2Q 2021). Net income: ₹443.2m (up 5.7% from 2Q 2021). Profit margin: 2.3% (down from 3.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. 
