Surya Roshni Q1 Results Review - Weak Realisations Driving Underperformance: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .IDBI Capital Report.Surya Roshni Ltd.’s Q1 FY25 performance was below our expectations. Revenue increased marginally by 1.1% YoY to Rs 18.9 billion due to muted growth in lighting and consumer durable segment (up 3% YoY) and flattish growth in steel pipes segment. Steel pipes segment’s Ebitda/tonne increased by 38% YoY to Rs 6,065, driven by a better product mix and Surya aims to sustain Ebitda/tonne at similar levels for FY25. Surya commenced trial runs at the Bahadurgarh facility with a capacity of 50,000 mtpa and expects spiral pipes plant with a 60,000 mtpa capacity at Gwalior to start by Dec-24. These facilities will increase production capacity by 12,000 to 15,000 tons per month from Q4 FY25. We adjust our FY25E/FY26E Ebitda estimate by +3%/-3%, respectively. We arrive at the target price of Rs 604 (earlier Rs 627) based on SOTP method and maintain our Hold rating on the stock..Click on the attachment to read the full report:.Novelis To Attempt US Listing Again Next Year, Says Hindalco MD Satish Pai.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Surya Roshni Q1 Results Review - Weak Realisations Driving Underperformance: IDBI Capital

The company sees continued pricing pressure in consumer lighting segment, says the brokerage.

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Surya Roshni Q1 Results Review - Weak Realisations Driving Underperformance: IDBI Capital

The company sees continued pricing pressure in consumer lighting segment, says the brokerage.

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