Surya Roshni (SURYAROSNI) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 delivered consolidated revenue of ₹1,893 crore, up 1% year-over-year, with EBITDA up 36% to ₹159 crore and PAT up 56% to ₹92 crore.

• Zero-debt status maintained with a cash surplus of ₹156 crore at quarter-end.

• Strong market position in steel pipes, lighting, and consumer durables, with focus on value-added products and innovative lighting/consumer durables driving EBITDA margin improvement.

Financial highlights

• Q1 FY25 EBITDA margin improved to 8.37% from 6.20% in Q1 FY24; gross profit margin rose to 24% from 20.5% year-over-year.

• Net working capital days at 67; cash surplus of ₹156 crore.

• Net worth increased to ₹2,166 crore as of March 2024.

• FY24 revenue reached ₹7,809 crore, with PAT at ₹336 crore.

Outlook and guidance

• Anticipates 12%-15% revenue growth for FY25, driven by consumer demand, infrastructure focus, and robust order book of ₹600 crore as of June 30, 2024.

• Expects 12%-15% volume growth in steel pipes for FY25.

• Targeting ₹180 crore EBITDA for lighting business in FY25.

• Continued focus on value-added products and backward integration to drive profitability.