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Surya Roshni (SURYAROSNI) investor relations material
Surya Roshni Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated Q3 FY26 revenue grew 3% YoY to INR 2,927 crore (₹1,927 crore/₹192,749 lakhs), with EBITDA at INR 148 crore and PAT at INR 80 crore (₹7,969 lakhs), reflecting modest growth but lower profitability due to inventory losses in Steel Pipes.
For the 9-month period ended December 2025, revenue was INR 5,377 crore (₹537,717 lakhs), EBITDA INR 371 crore, and PAT INR 188 crore (₹18,751 lakhs), showing modest YoY growth but lower margins.
The company achieved zero-debt status with a net cash surplus of INR 245-250 crore as of December 31, 2025.
Lighting & Consumer Durables segment saw 6% YoY revenue growth to INR 476 crore (₹47,649 lakhs), driven by festive demand and strong LED product performance, despite input cost pressures.
Steel Pipes business maintained stable revenues at INR 1,451 crore (₹145,100 lakhs), with higher dispatch volumes and a healthy product mix, though EBITDA was affected by inventory losses from steel price declines.
Financial highlights
Q3 FY26 consolidated revenue: INR 2,927 crore (up 3% YoY); EBITDA: INR 148 crore (margin 7.7%); PAT: INR 80 crore; gross profit margin at 22.5%.
9M FY26 revenue: INR 5,377 crore (up 2% YoY); EBITDA: INR 371 crore; PAT: INR 188 crore; EBITDA margin at 6.9%.
Lighting & Consumer Durables Q3 revenue: INR 476 crore (up 6% YoY); EBITDA: INR 42 crore; EBITDA margin at 8.8%.
Steel Pipes and Strips Q3 revenue: INR 1,451 crore (up 2% YoY); EBITDA: INR 106 crore; margin at 7.3%.
Q3 FY26 consolidated EPS (basic/diluted): ₹3.66; nine-month EPS: ₹8.62.
Outlook and guidance
Management remains confident in achieving full-year volume guidance for FY26 in the Steel segment, with Q4FY26 expected to be the highest-volume quarter historically.
Appliances and Wires & Cables segments show early signs of stabilization, with demand expected to recover in Q4FY26 and improved performance anticipated in FY27.
The company is monitoring the implementation of new Indian labour codes and will adjust accounting as required once rules are notified.
Focus remains on mix optimization, disciplined execution, and capacity augmentation to support growth.
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