Surya Roshni Q4 Results Review - The Lighting Segment Partially Offsets Steel Margin Pressure: Systematix

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Research Report.Surya Roshni Ltd. reported Q4 FY24 revenue of Rs 20.8 billion (-3%/+7% YoY/QoQ), 4% below our estimate due to lower realizations. Ebitda for the quarter was reported at Rs 1.7 billion (-32%/+9% YoY/QoQ), 11% below estimate, majorly impacted by-lower realisations, anda fall in API spiral pipes deliveries, partially offset by better margins at the lighting and consumer durables segment. The steel pipes and tubes segment recorded Q4 FY24 sales of 236 kt (+10%/+20% YoY/QoQ). Ebitda/tonne was reported at Rs 5,877/tonne, falling by 40% YoY and 5% QoQ impacted by lower steel prices and subdued sales of value-added products, especially the high margin API spiral pipes (32% YoY decline). The segment’s current order book stands at Rs 8 billion comprising oil and gas and water segment, and export deliveries. The lighting and consumer durables segment Ebitda was reported at Rs 0.5 billion (+7%/+18% YoY/QoQ) with a +102 bps/+134 bps YoY/QoQ improvement in Ebitda margin at 10.8%. Surya Roshni repaid Rs 4 billion debt in FY24 attaining a debt-free status with closing cash position of Rs 0.6 billion. The company has announced a fresh capex plan towards steel pipe capacity expansion from 1.2 mt to 2 mt, and enhancing the professional and valueadded product portfolio in the lighting segment. The capex plan would span over two years at an estimated outlay of Rs 5 billion..Click on the attachment to read the full report:.Titagarh Rail Systems Q4 Results Review - Further Re-Rating May Take A Pause; Downgrade To Hold: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Surya Roshni Q4 Results Review - The Lighting Segment Partially Offsets Steel Margin Pressure: Systematix

Fresh capex announced

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