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As on 20-May-2022  09:42

Surya Roshni soars after Q4 PAT jumps 41% YoY
Net profit grew due to reduced finance costs and a healthy product mix of value-added products. On a consolidated basis, finance cost reduced 3.90% year-on-year (YoY) to Rs 15.05 crore in Q4 FY22.

Profit before tax (PBT) surged 43.87% YoY to Rs 111.67 crore and EBITDA jumped 27% YoY to Rs 154 crore in Q4 FY22.

During the quarter, total expenses climbed 34.16% to Rs 2,149.26 crore. Cost of material consumed rose 23.69% to Rs 1659.60 crore.

For the full year, the company's net profit rose 29.44% to Rs 204.92 crore on 39.01% increase in net sales to Rs 7730.82 crore in the year ended March 2022 over the year ended March 2021.

The company said the profitability would have been even better if not affected by the hyperinflation in input costs across businesses. The firm proactively took multiple price hikes to partly mitigate the higher input costs.

Commenting on the results, company's managing director, Raju Bista, said: For FY22, the top-line was underpinned by a healthy product mix driven by growing share of value-added products across steel pipes, lighting and consumer durables.

The company has now repaid all the long-term debt and has become a long term-debt free company.

Commenting on the financial performance, Bharat Bhushan Singal - CFO said, For full year basis, we have reduced a debt by Rs 137 crore which helped in reduction of debt to equity ratio from 0.52x in March 2021 to 0.37x in March 2022.

RoCE has improved by 350 basis points to 16.2% for FY22 from 12.7% in FY21, while RoE has improved by 200 basis points to 14.1% in FY22 from 12.1% in FY21.

The board recommended a dividend of Rs 4 per equity share for the financial year 2021-22.

Meanwhile, the company has appointed Bharat Bhushan Singal as Chief Financial Officer (CFO). He is also handling the role of Sr. V.P. and Company Secretary since last 26 years.

Surya Roshni has transformed into an organization that has developed its lighting & consumer durables business and built a stronghold in the steel pipes & strips business. The steel pipes & strips business manufactures a wide range of products and is the largest manufacturer of GI pipes in India and is the largest exporter of ERW pipes. The consumer durable business offers a variety of fans and home appliances.

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