Is Surya Roshni Ltd (SURYAROSNI) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Surya Roshni Ltd is a good quality company .

Is Surya Roshni Ltd (SURYAROSNI) undervalued or overvalued?

The key valuation ratios of Surya Roshni Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Surya Roshni Ltd (SURYAROSNI) share price return in the past 10 years?

Surya Roshni Ltd share price has appreciated 22.5% annually (CAGR) over the past ten years.

Is Surya Roshni Ltd (SURYAROSNI) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Surya Roshni Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Surya Roshni Ltd (SURYAROSNI)?

Company share prices are keep on changing according to the market conditions. The current trading price of Surya Roshni Ltd (SURYAROSNI) on 05-Dec-2025 12:17:00 at 12:17 is 257.25.

What is the market cap of Surya Roshni Ltd (SURYAROSNI)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Dec-2025 at 12:17, the market cap of Surya Roshni stood at Rs. 5702.06.

What is the P/E ratio of Surya Roshni?

The latest standalone P/E ratio of Surya Roshni as of 05-Dec-2025 is 17.40.

What is the P/B ratio of Surya Roshni Ltd (SURYAROSNI)?

The latest standalone P/B ratio of Surya Roshni Ltd (SURYAROSNI) as of 05-Dec-2025 is 2.27.

What is the 52-week high and low of Surya Roshni Ltd (SURYAROSNI)?

The 52-week high of Surya Roshni Ltd (SURYAROSNI) is Rs. 358.30 and the 52-week low is Rs. 205.30.

What is the TTM revenue of Surya Roshni Ltd (SURYAROSNI)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Surya Roshni is Rs. 7462.84 (Cr.).

Surya Roshni Ltd (SURYAROSNI) - Company Profile, Valuation & Financials

Name: Surya Roshni Ltd (SURYAROSNI)
Brand: Surya Roshni

10 Year X-Ray of Surya Roshni:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	11.6%	12.8%	12.5%	12.8%	10.9%	12.7%	16.2%	23%	21.2%	21.1%	-
Value Creation Index ⓘ	-0.2	-0.1	-0.1	-0.1	-0.2	-0.1	0.2	0.6	0.6	0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	2,964	3,884	4,931	5,977	5,469	5,554	7,730	7,996	7,809	7,435	7,463
Sales YoY Gr.	-	31%	27%	21.2%	-8.5%	1.6%	39.2%	3.4%	-2.3%	-4.8%	-
Adj EPS ⓘ	3.6	4	5	5.6	4.7	7.3	9.7	15.6	15.1	15.9	15.1
YoY Gr.	-	10.9%	25.2%	11.9%	-15.5%	55.5%	33%	60.5%	-3.2%	5.3%	-
BVPS (₹) ⓘ	39.4	43.7	48.1	52.9	56.9	63.6	72.1	85.8	98.7	112.2	115.2
Adj Net Profit ⓘ	62.8	86.5	108	121	102	157	207	336	328	346	328
Cash Flow from Ops. ⓘ	208	256	155	120	280	540	285	279	540	393	-
Debt/CF from Ops. ⓘ	4.3	4.2	7.1	9.9	3.9	1.3	2	1.5	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	10.8%	6.3%	-1.3%	-4.8%
Adj EPS ⓘ	18%	27.6%	17.8%	5.3%
BVPSⓘ	12.3%	14.5%	15.9%	13.6%
Share Price	22.5%	30.7%	25.7%	-11.4%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	8.4	10.5	10.8	11	8.6	12	14.2	19.7	16.3	15	13.3
Op. Profit Mgn % ⓘ	8.2	8.1	7	6.2	6.5	6.8	5.8	7.7	7.4	7.8	7.2
Net Profit Mgn % ⓘ	2.1	2.2	2.2	2	1.9	2.8	2.7	4.2	4.2	4.7	4.4
Debt to Equity ⓘ	1.3	1.1	1.1	1	0.9	0.5	0.4	0.2	0	0	0
Working Cap Days ⓘ	123	114	117	111	127	124	95	97	97	99	54
Cash Conv. Cycle ⓘ	83	71	73	73	87	79	56	61	67	68	37

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 17.83%

Return on Equity has declined versus last 3 years average to 13.20%

Sales growth has been subdued in last 3 years -1.29%

Sales growth is not so good in last 4 quarters at 1.25%

	Standalone	Consolidated
TTM EPS (₹)	15.1	15.1
TTM Sales (₹ Cr.)	7,463	7,463
BVPS (₹.) ⓘ	115.2	115.2
Reserves (₹ Cr.) ⓘ	2,398	2,399
P/BV ⓘ	2.27	2.27
PE ⓘ	17.40	17.39

From the Market
52 Week Low / High (₹)	205.30 / 358.30
All Time Low / High (₹)	1.86 / 420.75
Market Cap (₹ Cr.)	5,702
Equity (₹ Cr.)	108.8
Face Value (₹)	5
Industry PE ⓘ	22.7

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	2,964	3,884	4,931	5,977	5,469	5,554	7,730	7,996	7,809	7,435
Operating Expenses ⓘ	2,722	3,571	4,585	5,605	5,115	5,177	7,288	7,382	7,236	6,856
Manufacturing Costs	138	147	159	170	185	168	208	230	229	228
Material Costs	2,124	2,853	3,771	4,686	4,197	4,301	6,150	6,174	6,033	5,591
Employee Cost	186	236	269	294	304	307	340	372	410	436
Other Costs ⓘ	274	335	387	455	430	401	590	605	564	602
Operating Profit ⓘ	242	313	346	372	354	377	442	614	572	579
Operating Profit Margin (%)	8.2%	8.1%	7.0%	6.2%	6.5%	6.8%	5.7%	7.7%	7.3%	7.8%
Other Income ⓘ	2	1	3	4	3	5	6	5	14	31
Interest ⓘ	96	113	105	115	114	70	64	45	24	21
Depreciation ⓘ	61	84	87	89	103	103	108	115	117	123
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	87	118	156	173	139	209	276	459	445	467
Tax ⓘ	24	31	48	52	37	53	72	124	116	119
Profit After Tax	63	86	108	121	102	157	205	335	329	348
PAT Margin (%)	2.1%	2.2%	2.2%	2.0%	1.9%	2.8%	2.6%	4.2%	4.2%	4.7%
Adjusted EPS (₹)	3.6	4.0	5.0	5.6	4.7	7.3	9.6	15.6	15.2	16.0
Dividend Payout Ratio (%)	7%	9%	10%	9%	11%	10%	10%	11%	16%	34%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund	691	951	1,047	1,152	1,239	1,364	1,538	1,846	2,142	2,441
Share Capital ⓘ	44	54	54	54	54	54	53	54	54	109
Reserves ⓘ	648	897	993	1,098	1,185	1,310	1,485	1,792	2,088	2,332
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	846	1,031	1,071	1,132	1,032	665	580	404	4	3
Long Term Debt	333	401	354	335	270	172	61	0	0	0
Short Term Debt	513	631	717	797	762	493	519	404	4	3
Trade Payables	215	341	408	350	295	480	594	407	369	364
Others Liabilities ⓘ	225	293	328	395	405	430	401	398	404	424
Total Liabilities ⓘ	1,977	2,616	2,855	3,029	2,970	2,939	3,112	3,054	2,919	3,233
Fixed Assets
Gross Block	811	1,273	1,328	1,432	1,503	1,570	1,577	1,642	1,664	1,777
Accumulated Depreciation	58	172	256	343	442	541	634	729	829	936
Net Fixed Assets ⓘ	753	1,101	1,072	1,089	1,061	1,029	943	912	835	841
CWIP ⓘ	18	16	22	25	15	10	53	8	17	57
Investmentsⓘ	50	0	0	0	4	4	4	4	4	4
Inventories	470	655	829	844	913	868	987	1,152	1,086	902
Trade Receivables	526	632	713	838	698	753	885	745	715	894
Cash Equivalents	27	22	25	2	2	1	1	1	45	296
Others Assetsⓘ	132	191	196	232	278	274	239	232	217	239
Total Assets ⓘ	1,977	2,616	2,855	3,029	2,970	2,939	3,112	3,054	2,919	3,233

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ	208	256	155	120	280	540	285	279	547	393
PBT ⓘ	87	118	156	173	139	209	276	459	445	467
Adjustment ⓘ	156	193	194	204	210	172	176	161	144	121
Changes in Working Capital ⓘ	-13	-28	-160	-221	-30	212	-103	-236	90	-64
Tax Paid ⓘ	-22	-26	-35	-35	-39	-53	-64	-105	-132	-132
Cash Flow From Investing Activity ⓘ	-51	-100	-63	-105	-52	-66	-54	-33	-51	-328
Capex	-51	-99	-65	-105	-48	-66	-54	-33	-51	-140
Net Investments	0	-1	2	0	0	0	0	0	0	-205
Others ⓘ	-0	0	0	-0	-4	0	0	0	-0	18
Cash Flow From Financing Activityⓘ	-156	-163	-88	-37	-229	-475	-231	-246	-461	-80
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	3	3	2
Net Proceeds from Borrowing ⓘ	-50	-68	-60	15	-66	-105	-163	-61	0	0
Interest Paid ⓘ	-98	-118	-106	-118	-115	-68	-63	-44	-23	-20
Dividend Paid ⓘ	-4	-4	-7	-11	-11	-19	-8	-38	-49	-54
Others ⓘ	-3	28	85	77	-37	-283	3	-106	-392	-8
Net Cash Flow ⓘ	1	-7	4	-22	-1	-1	-0	-0	34	-15

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	9.54	10.51	10.81	10.99	8.55	12.03	14.1	19.82	16.49	15.2
ROCE (%)	11.58	12.76	12.54	12.82	10.85	12.65	16.16	22.95	21.15	21.06
Asset Turnover Ratio	1.58	1.82	1.83	2.03	1.82	1.88	2.55	2.59	2.61	2.42
PAT to CFO Conversion(x)	3.3	2.98	1.44	0.99	2.75	3.44	1.39	0.83	1.66	1.13
Working Capital Days
Receivable Days	60	51	49	47	51	48	39	37	34	39
Inventory Days	49	49	54	51	59	59	44	49	52	49
Payable Days	33	36	36	30	28	33	32	30	23	24

About Surya Roshni Ltd

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 companyâ€™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. Companyâ€™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-Companyâ€™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 plantâ€™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

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Surya Roshni Ltd (SURYAROSNI) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

Surya Roshni Share Price

Surya Roshni Ltd (SURYAROSNI) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

DeciZen - make an informed investing decision on Surya Roshni Share

Overall Rating ⓘ

1. Quality

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3. Price Trend

Surya Roshni stock performance -

Is Surya Roshni Ltd an attractive stock to invest in?

1. Is Surya Roshni Ltd a good quality company?

2. Is Surya Roshni Ltd undervalued or overvalued?

3. Is Surya Roshni Ltd a good buy now?

10 Year X-Ray of Surya Roshni: Share

Analysis of Financial Track Record

Value Creation ⓘ

Growth Parameters ⓘ

CAGR ⓘ

Key Financial Parameters ⓘ

Recent Performance Summary

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Management X-Ray of Surya Roshni: Share

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