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Earnings Call Transcript

Surya Roshni Earnings Call Transcript: Key Takeaways

Surya Roshni reported strong volume growth but faced EBITDA per ton pressure due to soaring ocean freight and input costs. Management remains optimistic about achieving long-term targets despite near-term logistics headwinds.

Guidance and delivery
Management target Revenue 23.0% FY27
Highlights
Revenue growthRevenue up 28% YoY to ₹2,046 Cr driven by volume expansion.
MarginsSteel EBITDA per ton pressured by ₹800 freight hit; Lighting margins improving.
Order bookOrder book stands at ₹800 Cr; US export orders reach 78,000 tons.
Demand visibilityStrong domestic infrastructure demand; export demand recovering with US market opening.
Management confidenceBalanced; confident in long-term targets despite near-term logistical cost pressures.

Growth

Revenue grew 28% YoY to ₹2,046 Cr; Lighting and Steel Pipe volumes rose 15% and 21% respectively.

Outlook

Targets 2 million tons capacity by FY28-29 and ₹500 Cr wire business revenue in three years.

Risks

Ocean freight surge impacted EBITDA by ₹800/ton; Middle East geopolitical uncertainty slows specific regional orders.

Last quarter's promises, checked

Delivered

  • Guided zero-debt status → delivered zero-debt with ₹337 Cr cash surplus (= BEAT)
  • Guided 43% value-added product mix → delivered 43% for FY26 (= BEAT)
  • Guided 9.04 lakh tons FY26 volume → delivered 9.04 lakh tons (= BEAT)

Partly delivered

  • Guided 1.4 lakh tons exports → delivered 1.36 lakh tons (= PARTIAL)

Missed

  • Guided Q4 Steel EBITDA ₹5,500-6,000/ton → delivered ₹5,121/ton (= MISS)
  • Guided Q4 Steel volume 2.9 lakh tons → delivered 2.6 lakh tons (= MISS)
  • Guided FY26 Steel EBITDA ₹446 Cr → delivered ₹385 Cr (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: SURYAROSNI. Summary written with AI assistance from the document.

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Surya Roshni Ltd: key numbers

Share price
₹227.45
Market cap
₹4,950 Cr
Revenue (annual)
₹7,540 Cr
Net profit (annual)
₹285.8 Cr
P/E (TTM)
15.9×Sector 19.0×
Promoter holding
63.02%+0.02% QoQ
FII holding
3.81%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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