Surya Roshni, a manufacturer of steel pipes and electrical equipment, has received orders worth Rs 147.30 crore from Indian Oil Corporation (IOCL) and GAIL for the delivery of various types of pipe products.
According to an exchange filing, the business secured an order from Indian Oil for the delivery of API-SL coated pipes and bare pipes in the state of Tamil Nadu valued Rs 123.95 crore. The supply order must be completed within nine months.
Surya Roshni has also got an order from GAIL for the provision of powder-coated GI pipes for the company’s City Gas Distribution project for Rs 23.35 crore.
The directive would be carried out over the course of 18 months.
The firm released its December quarter results on Thursday, and its net profit more than quadrupled from the same time last year to roughly Rs 90 crore, up from Rs 40 crore.
However, revenue remained constant at Rs 2,021 crore. The steel pipes and strips business performed well, with EBITDA per MT increasing 76 percent from the previous year to Rs 6,733.
The corporation has issued a Rs 3 interim dividend.
Surya Roshni is the largest producer of ERW GI pipes and a prominent exporter of ERW pipes. It is one of India’s major lighting firms.
Surya Roshni’s stock is down 0.9 per cent at Rs 605.20.
