Surya Roshni Q2 FY27: Revenue surges 33% to ₹2,448 Cr, PAT up 29% QoQ.
Surya Roshni's Q2 FY27 revenue surged 33% YoY to ₹2,448 Cr, with PAT up 29% QoQ to ₹77 Cr. H1 FY27 revenue grew 30% YoY to ₹4,495 Cr. Steel Pipes volume rose 23% YoY to 2.67 lakh tons, and Lighting revenue grew 17% YoY to ₹507 Cr. The company is a zero-debt entity with a cash surplus.
The announcement details strong financial results and positive future outlook for both key business segments, indicating a significant positive impact on the company's financial health and investor confidence.
The company reported record financial performance with significant year-on-year and quarter-on-quarter growth in revenue, EBITDA, and PAT across both its major segments. Positive outlook and future growth targets were also provided.
Surya Roshni Limited announced its financial results for the quarter and half-year ended September 30, 2026, during an earnings conference call held on November 7, 2026. The company reported a record performance for Q2 FY27, with consolidated revenue growing by 33% year-on-year and 20% sequentially to ₹2,448 crore. EBITDA stood at ₹143 crore and Profit After Tax (PAT) at ₹77 crore, marking a 19% and 29% quarter-on-quarter increase, respectively.
For the first half of FY27 (H1 FY27), consolidated revenue grew by 30% year-on-year to ₹4,495 crore. EBITDA increased by 18% to ₹263 crore, and PAT grew by 26% to ₹136 crore. This growth was driven by a 22% volume increase in Steel Pipes and Strips, and a 16% revenue growth in the Lighting and Consumer Durables segment.
The Lighting and Consumer Durables segment achieved its best-ever second quarter with revenue of ₹507 crore, up 17% year-on-year and 11% sequentially. For H1 FY27, revenue grew 16% to ₹964 crore. The segment's EBITDA for the quarter was ₹40 crore, with margins steady at 7.8%. The company provided an FY27 guidance for this segment of 22%-23% value growth and approximately 25% volume growth, targeting revenue of ₹2,200 crore and EBITDA of ₹200 crore. Beyond FY27, the company targets about 20% value growth in FY28 and a 15% CAGR through FY30, with EBITDA margins of 9% to 9.5%.
The Steel Pipes and Strips segment also saw a strong performance in Q2 FY27. Volume reached a record 2.67 lakh tons, up 23% year-on-year and 17% sequentially. Revenue grew by 38% year-on-year to ₹1,941 crore. For H1 FY27, volume grew by 22% to 4.96 lakh tons and revenue by 35% to ₹3,531 crore. EBITDA for the quarter was ₹103 crore, with EBITDA per ton improving to ₹4,105. Exports rose 64% year-on-year to about 65,000 tons. The company is confident of achieving its FY27 volume target of 11 lakh tons, with exports contributing 22% to 25% of volumes. Looking ahead, the company targets about 14 lakh tons in volume for FY28, with EBITDA per ton at ₹4,600 to ₹4,800, and aims for 2 million tons by FY2030.
Surya Roshni remains a zero-debt company with a cash surplus. The company is also considering a share buyback, with an announcement expected soon after Board approval. Capex plans for the year are around ₹150-155 crore, with future investments planned for greenfield expansion.
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