Surya Roshni stock hits new all-time high on strong growth trajectory

As Surya prepares to celebrate its Golden Jubilee year in 2023-24, it expects to accelerate its growth trajectory and aims to be debt-free.

Sep 20, 2021 02:09 IST India Infoline News Service

Surya Roshni has concluded its its 48th Annual General Meeting (AGM), where the company announced a strong growth trajectory. The company's stock has hit a new 52-week high of Rs840.45 per piece on Sensex during Monday's trade.

At around 1.54 pm, Surya Roshni was trading at Rs810.45  per piece up Rs39.75 or 5.1% on Sensex.

Raju Bista, the Managing Director of Surya Roshni, announced that the company posted revenue of Rs5,561cr in FY21, compared to Rs5,471cr and PAT of Rs158cr in FY21 compared to Rs103cr in FY20, inspite of a pandemic year. The company has also substantially reduced its debt by Rs37 4cr and finance cost along with improvement to top-notch Credit Rating of Al+ for the short term facilities. As the second wave of the pandemic eased, the company togged a 64% growth in revenue for the quarter ended June 30, 2021, rising to Rs1,453cr. The company also recorded a substantial increase in Profit to Rs37cr in Ql FY22."

Bista said, "Surya, being the country's 2nd largest consumer lighting brand, aims to further reinforce its position in the Consumer Lighting segment by launching innovative Smart Lighting solutions. We are also going to hike our brand spends with a vision to transform into a modern, innovative, progressive and agile brand. Having Ogilvy and Mather as our creative partners will strengthen our value proposition in building this ne brand identity."

He added, 'We will continue to capitalise on the emerging opportunities across all of our businesse and focus on value-added products and improvement in operating efficiencies, which will drive us to achieve growth and create value for all our stakeholders."

In pursuit of contributing to a more sustainable future, Surya Roshni has emerged as a frontrunner in the Lighting & Consumer Durables and Steel Pipes & Strips industry. The company has emerged as a market leader With its continuous cost reduction, overhead rationalisation, value-added products, debt reduction and creating demand for different applications of its products.

Keeping customers at its core, Surya Roshni over the period has transformed both its Lighting & Consumer Durables and Steel Pipes & Strips businesses as self-sustaining in terms of Profitability, Debt servicing & Growth. They are capable to win in their respective markets, with the help of their strong brands, extensive distribution network and loyal customers.

As Surya prepares to celebrate its Golden Jubilee year in 2023-24, it expects to accelerate its growth trajectory and aims to be debt-free

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