Surya Roshni bags an order worth Rs 147 cr

Surya Roshni said that it has received orders worth Rs 147.30 crore for supplying API 5L grade coated pipes to IOCL and powder coated GI pipes to GAIL (India).

The company has received an order from GAIL to supply power coated GI pipes PAN India for City Gas Distribution (CGD) project. The total value of the order is Rs 23.35 crore. The order will be executed in 18 months.

Further, it has received an order from IOCL to supply of API 5L coated pipes and bare pipes to Tamil Nadu. The total value of the order is Rs 123.95 crore. The order will be executed in 9 months.

Surya Roshni is the largest GI steel pipe manufacturer and the second largest in lighting products and manufacturing conglomerate with business interest spanning steel pipes, cold rolled sheets and 3LPE coated API pipes, LED and conventional lighting products, fans, electric appliances, PVC pipes etc.

The company's consolidated net profit surged 121.4% to Rs 89.66 crore in Q3 FY23 compared with Rs 40.49 crore in Q3 FY22. Net sales declined 0.4% YoY to Rs 2021.28 crore in Q3 FY23

The scrip was down 0.68% to Rs 606.90 on the BSE.

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