Surya Roshni Wins ₹214.68 Crore Worth of Pipe Supply Deals

1 Dec 2024 , 06:02 PM

Surya Roshni secured orders worth ₹214.68 crore, including GST. The first order, valued at ₹106.01 crore, was from Hindustan Petroleum Corporation Ltd (HPCL) for API 5L Grade X 3LPE Coated Line Pipes. These pipes will be used in Rajasthan and Jharkhand, with a completion timeline of 40 weeks.

The second order, worth ₹108.67 crore, involves supplying Food Grade Epoxy Coated, Spirally Welded HSAW MS Pipes in Madhya Pradesh. This order has a shorter execution period of 15 weeks.

For the September quarter, the company saw a 20% decline in revenue compared to the previous year. EBITDA dropped by 40%, reflecting challenges in profitability. Net profit also fell sharply by 55% year-on-year.

A significant dip in HR steel prices impacted earnings, along with subdued market demand. Price erosion in LED products further affected the lighting and consumer durables segment. The new orders are expected to strengthen the company’s portfolio and support revenue recovery.