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Surya Roshni Concludes 48th AGM Entering Into Sustainable Growth Trajectory
The company logged a 64% growth in revenue for the quarter ended June 30, 2021, rising to ₹1,453 crore. The company also recorded a substantial increase in Profit to ₹37 crore in Q1 FY22. Mr. Raju Bista appreciated the efforts and dedication of the entire Surya team.
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One of the most respected and trusted brands for Lighting, & Consumer Durables as well as Steel Pipes, in India, Surya Roshni organized its 48th Annual General Meeting on September 16, 2021.
Mr. Raju Bista, the Managing Director of Surya Roshni, announced that the company posted revenue of ₹5,561 crores in FY21, compared to ₹5,471 crores and PAT of ₹158 crore in FY21 compared to ₹103 crore in FY20, inspite of a pandemic year. The company has also substantially reduced its debt by ₹374 crore and finance cost along with improvement to top-notch Credit Rating of A1+ for the short term facilities. As the second wave of the pandemic eased, the company logged a 64% growth in revenue for the quarter ended June 30, 2021, rising to ₹1,453 crore. The company also recorded a substantial increase in Profit to ₹37 crore in Q1 FY22. Mr. Raju Bista appreciated the efforts and dedication of the entire Surya team.
Commenting on the remarkable performance, Mr. Bista said, “Surya, being the country’s 2nd largest consumer lighting brand, aims to further reinforce its position in the Consumer Lighting segment by launching innovative Smart Lighting solutions. We are also going to hike our brand spends with a vision to transform into a modern, innovative, progressive and agile brand. Having Ogilvy and Mather as our creative partners will strengthen our value proposition in building this new brand identity.
In Steel Pipes & Strips business having achieved the highest-ever EBITDA per ton of INR 5,033 in Q1 FY22, our export market is picking up pace and is expected to grow more than 30% in the current year. As the No. 1 Indian manufacturer of GI Pipes, the company is witnessing a healthy order book of about ₹1,000 crores in hand for API coated pipes catering to the Oil & Gas sector, & exports due to demand picking up with the easing of COVID globally.”
He added, “We will continue to capitalise on the emerging opportunities across all of our businesses and focus on value-added products and improvement in operating efficiencies, which will drive us to achieve growth and create value for all our stakeholders.”
In pursuit of contributing to a more sustainable future, Surya Roshni has emerged as a frontrunner in the Lighting & Consumer Durables and Steel Pipes & Strips industry. The company has emerged as a market leader with its continuous cost reduction, overhead rationalisation, value-added products, debt reduction and creating demand for different applications of its products.
Keeping customers at its core, Surya Roshni over the period has transformed both its Lighting & Consumer Durables and Steel Pipes & Strips businesses as self-sustaining in terms of Profitability, Debt servicing & Growth. They are capable to win in their respective markets, with the help of their strong brands, extensive distribution network and loyal customers.
As Surya prepares to celebrate its Golden Jubilee year in 2023-24, it expects to accelerate its growth trajectory and aims to be debt-free.