Surya Roshni surges on targeting double-digit growth from lighting & consumer durable business in FY24
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Surya Roshni is currently trading at Rs. 799.50, up by 7.10 points or 0.90% from its previous closing of Rs. 792.40 on the BSE.
The scrip opened at Rs. 808.35 and has touched a high and low of Rs. 808.35 and Rs. 796.30 respectively. So far 3574 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 934.75 on 28-Jun-2023 and a 52 week low of Rs. 336.05 on 16-Aug-2022.
Last one week high and low of the scrip stood at Rs. 813.05 and Rs. 772.00 respectively. The current market cap of the company is Rs. 4353.26 crore.
The promoters holding in the company stood at 62.96%, while Institutions and Non-Institutions held 5.32% and 31.72% respectively.
Surya Roshni is targeting a double-digit growth in FY24 from its lighting and consumer durable business as the company is adding new products to the category as well as expanding its distribution network. The company, known for lighting products, has introduced several new products into the kitchen appliance categories.
To increase the visibility of its products ranging from fans, kitchen appliances, lights and heating appliances, Surya Roshni also has plans to have a dedicated place in the larger stores in a shop-in-shop format.
For the financial year ended on March 31, 2023, Lighting and Consumer Durables Segment revenue was at Rs 1,545 crore. Surya Roshni's overall revenue in FY23 including its steel pipe and Strips Segment was at Rs 7,997 crore.
Surya Roshni is into the business of manufacturing electric resistance welded (ERW) steel pipes & lighting products, with facilities at Bahadurgarh (Haryana), Kashipur (Uttarakhand) and Malanpur (Madhya Pradesh).
