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Surya Roshni Annual Report 2023 Summary

Updated: Oct 7, 2023

  • Incorporated in 1973, Surya Roshni Limited has steadily ascended to become one of India's preeminent steel pipes and lighting companies.

  • The company stands as a significant conglomerate in India, exporting to several countries globally. It has been experiencing growth in sales and geographical expansion despite global adversities, with a keen focus on premium products and aggressive marketing strategies.

  • In the 2022-23 fiscal year, the company inaugurated a new facility in Gwalior, leveraging Direct Forming Technology (DFT) to boost production capacity by 36,000 MTPA in new product domains.

  • It is also embarking on a ₹75 crore expansion project in Hindupur, Andhra Pradesh to produce GP and CR coils/pipes at competitive rates, targeting the South Indian market.

  • Furthermore, a new ERW Pipe Mill is in the pipeline, aiming to meet the surging demand for larger diameter pipes and to strengthen its foothold in the oil and gas sectors with an investment of ₹75 crore.

  • Steel tubes and pipes manufacturers aim to maintain a positive export momentum of value-added products, particularly API pipes, to various regions, including the Middle East, Europe, and Australia, despite facing geopolitical challenges. The Company intends to increase its market share in GP pipes by participating in the Government’s ‘Jal Jivan Mission.’

  • The Company anticipates that due to massive capex spending, there will be a demand for higher thickness and higher gauge material in India. This, in turn, will lead to a peak in demand for the DFT-based pipes in the coming years. In addition, the Company plans to cater to the ‘inch-to-inch’ pipes market in Canada and the US, resulting in incremental exports for the Company.

  • It is strategizing to foster value creation through investments in value-added products, harmonizing the business ratio between the B2B and B2C sectors. As of March 31, 2023, its debt equity notably reduced to 0.22x compared to 0.37x on the same date in the previous year.

  • It holds a pivotal position in the industry, renowned as a prominent manufacturer and exporter of various types of pipes. The company operates six manufacturing facilities and exports to over 50 countries.

  • Financially, it recorded revenues amounting to ₹6,452 crore and ₹1,545 crore in steel pipes and strips, and lighting and consumer durable segments respectively. During the fiscal year 2022-23, it saw a marginal rise in revenue with significant growth in various business domains. It launched new products both domestically and globally, thus broadening its geographical outreach and cementing its commitment to exporting value-added items.

  • Continued robust order inflow and enquiry generation in exports and API-coated pipes & OEM. The order book stood at ₹ 850 crore including actual user order book

  • Owing to the increase in the number of working couples, single-person households, and a growing migrant population, the demand for domestic appliances has hit an all-time high.The proliferation of new homes and offices, combined with the emergence of a hybrid work culture, is driving the demand for these products even further.

  • Moreover, it experienced a substantial growth in different sectors including a 38% YoY increase in the professional lighting segment, alongside a surge in the home appliances sector, attributing to new product launches.

  • The company is also noting a declining trend in LED bulb replacement costs and a considerable rise in the demand for modern smart LED products.

  • To enhance its market share and brand visibility further, it has escalated its marketing and advertising endeavors and fostered deeper engagements with dealers and distributors. Recent developments include the launch of a new facility at Gwalior enhancing its global export capabilities.

  • Surya Roshni’s newly established DFT technology facility in Malanpur puts the Company in a prime position to capitalise on emerging opportunities in the inch-to-inch market for section pipes in the US and Canada.

  • Looking ahead, the company's growth plan encompasses several pivotal strategies including augmenting consumer awareness about the Surya brand's LED lighting and durable products, and introducing new products in tune with the swiftly changing consumer preferences. It is also channeling efforts to enhance manufacturing efficiency through automation and backward integration to optimize output.

  • To supplement this, the company aims to expand its distribution network, delving deeper into both existing and emerging markets, with a special focus on Tier-III and Tier-IV towns through collaborations with industry stakeholders.

  • Concurrently, it is bolstering its B2B sector by forming a skilled team and vendor ecosystem to offer bespoke smart lighting solutions, with a pronounced focus on infrastructural projects.

  • Lastly, the company seeks to seize substantial business opportunities in the PVC pipe sector, utilizing the potent 'Prakash Surya' brand network and its significant production capacity.



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