CARE Equity Research has assigned a fundamental grade of 3/5 for the equity shares of Surya Roshni indicating ‘Good Fundamentals’. The grading factors in the company’s market position of being one of the largest players in the Electric Resistance Welded (ERW) pipes and lighting products in India with a strong reach of more than 200,000 retail outlets across country.
The agency has also assigned the valuation grade of 4/5 to the equity shares of the company indicating that shares to have ‘Moderate Upside Potential’. The valuation has been arrived at using the discounted cash flow valuation methodology based on five year consolidated financial estimates.
Surya Roshni (SRL), incorporated in 1973 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).
