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Surya Roshni (SURYAROSNI) investor relations material
Surya Roshni Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY26 consolidated revenue grew 21% YoY to INR 1,845 crore, with EBITDA up 69% to INR 141 crore and PAT more than doubling to INR 74 crore, driven by improved realization, product mix, and operating leverage.
Lighting & Consumer Durables saw strong double-digit volume growth in LED lamps, battens, water heaters, and mixer grinders, despite pricing pressures.
Steel Pipes and Strips business posted 24% YoY revenue growth, with EBITDA more than doubling, supported by strong exports and higher value-added product share.
Achieved zero-debt status with a net cash surplus of INR 250 crore as of September 30, 2025, and declared an interim dividend of INR 2.5 per share.
Unaudited standalone and consolidated financial results for the quarter and half year ended 30th September 2025 were approved by the Board on 11th November 2025.
Financial highlights
Q2 FY26 consolidated revenue: INR 1,845 crore (up 21% YoY); EBITDA: INR 141 crore (up 69% YoY); PAT: INR 74 crore (up 117% YoY).
H1 FY26 revenue: INR 3,450 crore; EBITDA: INR 223 crore; PAT: INR 108 crore.
Standalone revenue from operations for Q2 FY26 was Rs. 1,84,501 lakhs, up from Rs. 1,52,872 lakhs in Q2 FY25; half-year revenue at Rs. 3,44,942 lakhs.
Net working capital cycle at 63 days; ROCE at 16.46%; ROE at 11.90%.
Gross profit margin in Q2 FY26: 21.6%; EBITDA margin: 7.6%; PAT margin: 4.0%.
Outlook and guidance
Strong order book in Steel Pipes and Lighting & Consumer Durables segments supports future growth.
Lighting and consumer durables segment guidance: FY26 revenue of INR 1,900 crore and EBITDA of INR 180 crore.
Steel segment full-year volume guidance recalibrated to around 1 million tons, reflecting realistic demand trends.
Domestic and export demand expected to remain robust, with government infrastructure initiatives and private capex as key drivers.
New product launches and backward integration initiatives to drive margin expansion.
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