Surya Roshni Limited announces Q4FY26 Results

Surya Roshni Limited, the largest exporter of ERW Pipes, largest producer of ERW GI pipes and one of the largest Lighting Companies in India, has declared its audited financial results for the quarter and year ended March 31, 2026.

Consolidated Financial Performance Highlights

- In Q4FY26, consolidated revenue stood at ₹2,163 crore, broadly stable YoY and 12% higher sequentially. EBITDA stood at ₹170 crore with EBITDA margins of ~7.9%. PAT for the quarter stood at ₹98 crore, improving sequentially by 23%, supported by better realizations and improved product mix.

- The Lighting & Consumer Durables segment delivered healthy growth during Q4FY26, led by strong momentum across LED bulbs, battens, downlighters, appliances and professional lighting and the Steel Pipes & Strips business reported ever highest quarterly sales volumes of ~2.6 lakh tonnes.

- In Q4FY26, the Lighting & Consumer Durables segment reported revenue of ₹501 crore, registering growth of 9% YoY, supported by strong demand across consumer lighting, professional lighting and appliances categories.

- During FY26, the Company continued strengthening its long-term growth platform through expansion in Wires & Cables, PVC pipes, pumps businesses and continued investments in brand building and secondary marketing initiatives.

- The Steel Pipes & Strips business delivered resilient performance during Q4FY26 despite geopolitical disruptions and volatility across export markets, supported by improving realizations, disciplined inventory management and healthy contribution from value-added products.

- During FY26, the business continued to strengthen its product mix with value-added products contributing ~43% of overall volumes, while the hollow section pipes category achieved highest-ever quarterly sales during Q4FY26.

- The export business expanded its footprint across newer geographies including the UK market, while strengthening order visibility across North America and Europe.

- Order book stood at ₹1000 crore, led by majorly in exports, spiral pipes and domestic API orders, providing strong visibility for H1FY27, which is expected to be the highest value-added product sale in H1FY27.

Commenting on the results, Company's Managing Director, Mr. Raju Bista, said "During Q4FY26, Surya Roshni delivered a steady sequential improvement in performance despite continued macroeconomic and geopolitical uncertainties. Consolidated revenue stood at ₹2,163 crore, remaining stable YoY and improving 12% sequentially. EBITDA for the quarter stood at ₹170 crore, while margins improved sequentially to 7.9%.

Profit After Tax for Q4FY26 stood at ₹98 crore, reflecting healthy sequential improvement of 23% over Q3FY26 despite continued pricing pressure across certain segments.

For FY26, consolidated revenue increased to ₹7,540 crore compared to ₹7,436 crore in FY25, reflecting stable growth in a challenging operating environment. The Company continued to focus on operational efficiencies, value-added products and consistent operational delivery across both business verticals.

The Lighting & Consumer Durables business delivered healthy growth during FY26, supported by strong traction across consumer lighting, appliances and professional lighting categories. The Steel Pipes & Strips business also witnessed a strong sequential recovery during Q4FY26, aided by improved EBITDA per tonne, better product mix and stable sales volumes.

Commenting on the financial performance, Mr. Bharat Bhushan Singal - CFO said, "For the quarter, the revenue was ₹2,163 crore as compared to ₹2,146 crore, a growth of 1% YoY. EBITDA and PAT stood at ₹170 crore and ₹98 crore as compared to ₹211 crore and ₹130 crore, respectively. For FY26, the revenue was ₹ 7,540 crore as compared to ₹7,436 crore, a growth of 1% YoY. EBITDA and PAT stood at ₹541 crore and ₹286 crore as compared to ₹609 crore and ₹347 crore, respectively.

In Lighting & Consumer Durables, for the quarter, the revenue stood at ₹501 crore as against ₹458 crore, a growth of 9% YoY. EBITDA and PBT stood at ₹44 crore and ₹33 crore, as compared to ₹47 crore and ₹37 crore, respectively. For FY26, the revenue stood at ₹1,809 crore as against ₹1,690 crore, a growth of 7% YoY. EBITDA and PBT stood at ₹156 crore and ₹115 crore in FY26, as compared to ₹162 crore and ₹125 crore, respectively in the same period last year.

In the Steel Pipes and Strips, during Q4FY26, the revenue was ₹1,662 crore as compared to ₹1,688 crore. Similarly, EBITDA/MT stood at ₹5,121 compared to ₹6,708 in the same period last year. EBITDA and PBT stood at ₹126 crore and ₹98 crore as against ₹164 crore and ₹138 crore, respectively. For FY26, the revenue was ₹5,731 crore as compared to ₹5,749 crore. Similarly, EBITDA/MT stood at ₹4,553 compared to ₹5,392. EBITDA and PBT stood at ₹385 crore and ₹269 crore in FY26 as against ₹446 crore and ₹341 crore, respectively in the same period last year.

In Q4FY26, our Net Working Capital cycle was 58 days, with a Return on Capital Employed (ROCE) of 20.76% and a Return on Equity (ROE) of 15.23% and on yearly basis Net Working Capital cycle was 66 days , with a Return on Capital Employed (ROCE) of 15.93% and a Return on Equity (ROE) of 11.21% Improved capacity utilization, working capital optimization and cost rationalization enabled us to become a zero-debt company, and having cash surplus fund of ₹337 crore in FY26."

Source : Equity Bulls

Keywords

SuryaRoshni Q4FY26 Q4FY2026 FY26 FY2026 ResultUpdate