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Surya Roshni Ltd. Stock Analysis

Small Cap
Evaluated by 658 users | BSE: 500336 | NSE: SURYAROSNI |
Diversified
Surya Roshni was incorporated in 1973 with a steel pipe plant located at Bahadurgarh in Haryana. Presently, this plant has emerged as one of the largest in Asia, with a production capacity of 180000 MT of steel pipes annually. Today company’s product portfolio comprise of fluorescent...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 9.44%8.09%9.39%7.79%7.21%7.79%9.17%8.72%8.98%7.79%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 2,2172,5542,9593,0312,8572,9643,8844,9315,9775,469
Y-o-Y Gr. Rt.-15.2%15.8%2.4%-5.7%3.8%31%27%21.2%-8.5%
Adjusted EPS (Rs.) 15.2311.8715.7411.9511.9614.3215.8919.8722.2218.79
Y-o-Y Gr. Rt.--22.1%32.6%-24.1%0.1%19.7%11%25.1%11.8%-15.4%
Book Value per Share (Rs.) 98.16110.02124.63135.63144.11157.76174.77192.49211.71227.71
Adjusted Net Profit 66.8526952.452.462.886.5108121102
Net Op. Cash Flow (Rs. Cr.) 14.111717590.3267208256155120280
Debt to Cash Flow from Ops 54.067.124.911.493.554.34.187.089.923.89
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Surya Roshni Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 10.6%13.9%12.1%-8.5%
Adjusted EPS 2.4%9.5%5.8%-15.4%
Book Value per Share 9.89.69.27.6
Share Price 15.4% 10.6% -15.5% 31.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 15.037.919.756.966.628.3510.5310.8210.998.55
Operating Profit Margin (%) 8.197.678.017.747.828.188.077.026.236.47
Net Profit Margin (%) 3.012.042.331.731.842.122.232.192.021.87
Debt to Equity 1.771.731.571.751.51.291.131.051.030.88
Working Capital Days 889791104122123114117111127
Cash Conversion Cycle 74807482908371737387
Entity Percentage Holding
Promoters 62.92%
Institutions 2.52%
Non-Institutions 34.57%
Pledged *23.8320.7523.6723.6721.3421.3421.3421.3421.349.06
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Surya Roshni Ltd.'s performance infers:

Surya Roshni Ltd. earnings have grown by 9.5%, whereas share price has appreciated 10.6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Surya Roshni Ltd. share prices over the last 10 years. Here is what we found out:

Surya Roshni Ltd. share price has appreciated 7.1% annually over the past ten years.

Surya Roshni was incorporated in 1973 with a steel pipe plant located at Bahadurgarh in Haryana. Presently, this plant has emerged as one of the largest in Asia, with a production capacity of 180000 MT of steel pipes annually. Today company’s product portfolio comprise of fluorescent tube lights, GLS lamps, CFL lamps, HPSV Lamps, HPMV Lamps Metal Halide Lamps and ERW pipe.

Company owns two manufacturing units at Malanpur and Kashipur.

Surya Roshni was incorporated in 1973 with a steel pipe plant located at Bahadurgarh in Haryana. Presently, this plant has emerged as one of the largest in Asia, with a production capacity of 180000 MT of steel pipes annually. Today company’s product portfolio comprise of fluorescent tube lights, GLS lamps, CFL lamps, HPSV Lamps, HPMV Lamps Metal Halide Lamps and ERW pipe.

Company owns two manufacturing units at Malanpur and Kashipur. Company’s Malanpur unit was set up in 1984 and its Kashipur unit in 1992. These units have received ISO 9001:2000, ISO 14001:1996 and OHSAS18001:1999 certifications for quality management.

Presently, it has marketing network of 30 branches, over 1500 authorized dealers and over 1,00,000 retailers in India itself. In India, Surya Roshni is the second largest seller of GLS and FTL. Currently company has presence in over 48 countries namely Australia, Indonesia, Oman, Bahrain, Iran, Paraguay, Bangladesh, Jordan, Saudi Arabia, Botswana, Korea, Singapore, Columbia, Kenya, Sri Lanka, Egypt and many more.

Products

  • General Lighting Service Lamps (GLS lamps)
  • Fluorescent Tubes
  • Compact Fluorescent Lamp (CFL)
  • HID Lamps
  • Luminaries
  • Lighting Poles
  • High Masts
  • Miniature Circuit Breakers (MCB)
  • Accessories like choke and starters
  • Components like soda lime glass shells, tubular glass shells, aluminum caps, GLS filament, TL cathodes and CFL cathodes

Milestones

  • 1973- Surya Roshni incorporated in 1973 with a steel pipe plant at Bahadurgarh in Haryana.
  • 1984- Company set up lighting division at Kashipur.
  • 1985- Its Kashipur unit started production of GLS chain and first chain of FTL. Company launched Surya tubes and bulbs.
  • 1986-Company’s Kashipur unit started production of second chain of FTL. Company set up a glass factory.
  • 1987-Company started production of second GLS lamp chain.
  • 1988-Company added a bulb blowing machine in Kashipur unit.
  • 1991-Company expanded its tube drawing capacity.
  • 1992-Company started production of its Fluorescent powder, Filament for GLS and FTL. Company added two GLS shell blowing machines at Kashipur. Company started production of its Malanpur plant producing 5 million FTLs and 20 million GLS.
  • 1993- Company expanded its Malanpur plant’s FTL capacity to 10 million.
  • 1994-Company started production of its glass plant. Company increased production capacity of GLS lamp unit. Its Malanpur plant started producing H4-Halogen lamps.
  • 1995-Company doubled GLS lamp production capacity. Production of H3 Lamps and Deco Lamps started at Malanpur plant.
  • 1996-Company increased filament and wire drawing capacity. Company installed an automatic packing machine for FTL. Company set up aluminium cap plant for GLS at Malanpur plant.
  • 1997- Company increased its FTL capacity increased by addition of a new FTL chain. At its Malanpur plant, company installed FTL automatic packaging machine and production of new Osram GLS chain was started.
  • 1998-Company established Asia's largest ribbon glass plant started with annual capacity of 400 million GLS and 25 million FTL shell. 
  • 2001-Company developed Triband tubes.
  • 2002-Company developed blended lamps and blue tubes. Company received ISO 14001 and OHSAS 18001 certifications.
  • 2004-Company increased production capacity of HID lamps from 1.5 lac Pcs. p.a. to 4.5 lacs Pcs. p.a.
  • 2005- Company added tube drawing line in lead glass furnace thus leading to doubling of production capacity. Company installed additional tube drawing line on sodalime furnace.
  • 2006-Company increased production capacity of wire drawing and filament plant by 90 million filaments p.a. 
  • 2008 - Worlds best CFL plant from GE Europe commissioned
  • 2010- Surya Roshni launched its high-power factor CFL lamps in the Kerala market.
  • 2011 -Surya Gets Award for Energy Conservation
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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