Surya Roshni (SURYAROSNI) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated revenue rose 33% YoY to ₹2,448.48 crore; EBITDA increased 1% to ₹143 crore and net profit rose 3% to ₹76.73 crore. Sequential revenue, EBITDA and PAT grew 20%, 19% and 29%.

• H1 FY27 revenue increased 30% to ₹4,494.96 crore, EBITDA rose 18% to ₹263 crore and net profit grew 26% to ₹136.33 crore.

• Statutory auditors issued unmodified limited review conclusions on standalone and consolidated results.

Financial highlights

• Q2 FY27 gross profit was ₹528 crore, with a 21.6% margin; H1 gross profit was ₹964 crore, with a 21.4% margin versus 22.4% in H1 FY26.

• Q2 EBIT was ₹109 crore and PBT ₹103.11 crore; H1 EBIT was ₹194 crore and PBT ₹183.80 crore.

• Q2 total income was ₹2,454.61 crore and total expenses ₹2,351.50 crore; finance costs were ₹5.42 crore versus ₹9.10 crore in Q2 FY26.

• No exceptional items were reported in Q2 or H1 FY27.

Segment performance

• Steel Pipes & Strips Q2 revenue rose 38% YoY to ₹1,941 crore; EBITDA was ₹103 crore, up 1%, and PBT ₹75 crore, up 7%.

• Lighting & Consumer Durables Q2 revenue reached a record ₹507 crore, up 17%; EBITDA was ₹40 crore, up 1%, with a 7.8% margin versus 9.0%.

• H1 Steel Pipes & Strips revenue grew 35% to ₹3,531 crore; Lighting & Consumer Durables revenue rose 16% to ₹964 crore and EBITDA increased 8% to ₹76 crore.

• Steel export volumes rose 64% to 64,408 tonnes, ~24% of segment volume; value-added products were ~48% of Q2 volume and capacity utilisation reached 84%.

• Q2 volume growth included ceiling fans and water heaters +26% each, mixer grinders +20%, table/pedestal/wall fans +18% and LED bulbs +11%.