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Last Updated: April 2, 2026, 3:45 am
Author: Getaka|Social: XLinkedIn

Surya Roshni Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹200.02Fairly Valued by 3.84%vs CMP ₹208.00

P/E (14.3) × ROE (14.9%) × BV (₹115.00) × DY (2.04%)

₹187.43Fairly Valued by 9.89%vs CMP ₹208.00
MoS: -11% (Negative)Confidence: 55/100 (Moderate)Models: 1 Under, 3 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹218.4122%Fair (+5%)
Graham NumberEarnings₹194.3016%Fair (-6.6%)
Earnings PowerEarnings₹122.9613%Over (-40.9%)
DCFCash Flow₹228.4913%Fair (+9.9%)
Net Asset ValueAssets₹115.147%Over (-44.6%)
EV/EBITDAEnterprise₹252.239%Under (+21.3%)
Earnings YieldEarnings₹145.907%Over (-29.9%)
ROCE CapitalReturns₹169.069%Over (-18.7%)
Revenue MultipleRevenue₹170.735%Over (-17.9%)
Consensus (9 models)₹187.43100%Fairly Valued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.2%

*Investments are subject to market risks

Investment Snapshot

62
Surya Roshni Ltd scores 62/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health78/100 · Strong
ROCE 20.7% ExcellentROE 14.9% GoodD/E 0.48 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.63% (6mo) Slight increasePromoter holding at 62.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 8% Steady
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 2% YoY FlatProfit (4Q): -1% YoY Declining
Industry Rank80/100 · Strong
P/E 14.3 vs industry 40.7 Cheaper than peersROCE 20.7% vs industry 15.3% Above peersROE 14.9% vs industry 11.7% Above peers3Y sales CAGR: -1% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:45 am

Market Cap 4,529 Cr.
Current Price 208
Intrinsic Value₹187.43
High / Low 359/187
Stock P/E14.3
Book Value 115
Dividend Yield2.04 %
ROCE20.7 %
ROE14.9 %
Face Value 5.00
PEG Ratio1.56

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Surya Roshni Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Surya Roshni Ltd 4,529 Cr. 208 359/18714.3 1152.04 %20.7 %14.9 % 5.00
Goodluck India Ltd 3,446 Cr. 1,037 1,353/59220.6 3920.39 %16.1 %14.5 % 2.00
Man Industries (India) Ltd 2,604 Cr. 347 491/23913.9 2620.00 %16.0 %10.0 % 5.00
Hi-Tech Pipes Ltd 1,549 Cr. 76.3 128/70.124.0 60.20.03 %11.3 %7.47 % 1.00
Gandhi Special Tubes Ltd 982 Cr. 808 1,034/60713.7 2361.86 %27.5 %21.0 % 5.00
Industry Average9,873.50 Cr511.9240.74163.020.44%15.34%11.65%4.69

All Competitor Stocks of Surya Roshni Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,0212,1511,8751,9161,9382,0801,8931,5291,8682,1461,6041,8451,927
Expenses 1,8581,8991,7611,7781,7831,9151,7421,4521,7181,9431,5351,7271,782
Operating Profit 1632521141371551661517615020270118145
OPM % 8%12%6%7%8%8%8%5%8%9%4%6%8%
Other Income 122147896913233
Interest 111066745655597
Depreciation 30292929302930313031323233
Profit before tax 123215811031211391234812117546100107
Tax % 27%28%27%27%26%25%25%25%26%26%26%26%26%
Net Profit 90156597690104923690130347480
EPS in Rs 4.127.152.713.494.144.774.251.664.135.981.543.413.66

Last Updated: March 3, 2026, 2:26 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 1:44 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,9622,7782,9643,8874,9385,9805,4695,5547,7307,9967,8097,4357,522
Expenses 2,7282,5552,7223,5744,5925,6085,1155,1777,2887,3827,2366,8566,987
Operating Profit 235224243313346372354377442614572579535
OPM % 8%8%8%8%7%6%6%7%6%8%7%8%7%
Other Income 3321343565143147
Interest 11410996113105115114706445242126
Depreciation 565661848789103103108115117123128
Profit before tax 676287118156173139209276459445467428
Tax % 20%12%27%27%31%30%27%25%26%27%26%25%
Net Profit 53546386108121102156205335329348317
EPS in Rs 3.043.083.604.924.975.564.707.199.4015.4115.1116.0114.59
Dividend Payout % 8%8%7%9%10%9%11%10%10%11%16%34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)1.89%16.67%36.51%25.58%12.04%-15.70%52.94%31.41%63.41%-1.79%5.78%
Change in YoY Net Profit Growth (%)0.00%14.78%19.84%-10.93%-13.54%-27.74%68.64%-21.53%32.00%-65.21%7.57%

Surya Roshni Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:6%
3 Years:-1%
TTM:-9%
Compounded Profit Growth
10 Years:21%
5 Years:28%
3 Years:19%
TTM:-20%
Stock Price CAGR
10 Years:26%
5 Years:48%
3 Years:33%
1 Year:-12%
Return on Equity
10 Years:14%
5 Years:16%
3 Years:17%
Last Year:15%

Last Updated: September 5, 2025, 1:41 pm

Balance Sheet

Last Updated: December 4, 2025, 2:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4444445454545454535454109109
Reserves 7307676488979931,0981,1851,3121,4921,8072,1092,3552,398
Borrowings 1,0389488951,0711,0971,1921,0907325934181616124
Other Liabilities 259310390594711685641842974776739752816
Total Liabilities 2,0712,0681,9772,6162,8553,0292,9702,9393,1123,0542,9193,2333,446
Fixed Assets 9129367531,1011,0721,0891,0611,029943912835841873
CWIP 5426181622251510538175716
Investments 5050500004444444
Other Assets 1,0551,0561,1551,5001,7621,9161,8901,8962,1122,1302,0632,3312,554
Total Assets 2,0712,0681,9772,6162,8553,0292,9702,9393,1123,0542,9193,2333,446

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 90267208256155120280540285279540393
Cash from Investing Activity + -146-62-51-100-63-105-52-66-54-33-51-328
Cash from Financing Activity + 62-203-156-163-88-37-229-475-231-246-454-80
Net Cash Flow 621-64-22-1-1-0-034-15
Free Cash Flow -572041571589015232474231246489253
CFO/OP 44%124%95%90%55%42%90%157%79%63%118%91%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow234.00-724.00-652.00312.00345.00371.00353.00-355.00-151.00196.00556.00563.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 616965595351475042343344
Inventory Days 707079848066797459686659
Days Payable 193136443927264135242224
Cash Conversion Cycle 1121081089993901008265787779
Working Capital Days 252731303028343833456163
ROCE %11%9%11%13%13%13%11%13%16%23%21%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 62.96%62.96%62.96%62.96%62.96%62.96%62.96%62.47%62.47%62.47%62.47%62.89%
FIIs 2.54%4.87%5.15%5.26%5.02%4.49%4.87%4.53%4.12%4.67%4.94%4.75%
DIIs 0.24%0.45%0.45%0.52%0.56%1.00%1.03%1.46%1.63%1.69%1.67%2.04%
Public 33.15%30.63%30.54%30.63%31.11%31.27%31.02%31.49%31.75%31.15%30.90%30.31%
Others 1.11%1.09%0.91%0.62%0.36%0.29%0.12%0.06%0.03%0.02%0.02%0.02%
No. of Shareholders 38,13341,37443,08347,63253,43859,59555,54661,30266,60062,98363,44365,953

Shareholding Pattern Chart

No. of Shareholders

Surya Roshni Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
LIC MF Multi Cap Fund 611,792 0.75 13.69487,6622026-03-20 02:20:5725.45%
LIC MF Dividend Yield Fund 335,093 1.13 7.5290,0452026-03-20 00:56:3215.53%
LIC MF Midcap Fund 201,370 1.34 4.51125,4592026-03-21 06:44:2660.51%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.0010.0010.0010.00
Basic EPS (Rs.) 15.9530.5162.7838.4029.35
Diluted EPS (Rs.) 15.9330.2561.6737.6629.10
Cash EPS (Rs.) 21.5741.1583.8058.7548.69
Book Value[Excl.RevalReserv]/Share (Rs.) 113.31199.70346.33290.19255.04
Book Value[Incl.RevalReserv]/Share (Rs.) 113.31199.70346.33290.19255.04
Revenue From Operations / Share (Rs.) 341.78719.881486.101449.621037.38
PBDIT / Share (Rs.) 27.9954.05115.1384.1371.63
PBIT / Share (Rs.) 22.3543.2493.6863.8152.48
PBT / Share (Rs.) 21.3941.0285.3551.8839.45
Net Profit / Share (Rs.) 15.9330.3462.3538.4229.53
NP After MI And SOA / Share (Rs.) 15.9330.3462.3538.4229.53
PBDIT Margin (%) 8.187.507.745.806.90
PBIT Margin (%) 6.536.006.304.405.05
PBT Margin (%) 6.255.695.743.573.80
Net Profit Margin (%) 4.664.214.192.652.84
NP After MI And SOA Margin (%) 4.664.214.192.652.84
Return on Networth / Equity (%) 14.0515.1918.0013.2411.57
Return on Capital Employeed (%) 18.9820.6625.6019.4716.79
Return On Assets (%) 10.7111.2610.976.575.38
Long Term Debt / Equity (X) 0.000.000.000.030.12
Total Debt / Equity (X) 0.000.000.210.370.48
Asset Turnover Ratio (%) 2.422.612.592.551.88
Current Ratio (X) 3.353.061.921.511.45
Quick Ratio (X) 2.011.390.850.790.76
Inventory Turnover Ratio (X) 7.485.015.476.354.54
Dividend Payout Ratio (NP) (%) 15.6914.8711.353.9812.02
Dividend Payout Ratio (CP) (%) 11.5910.968.442.607.29
Earning Retention Ratio (%) 84.3185.1388.6596.0287.98
Cash Earning Retention Ratio (%) 88.4189.0491.5697.4092.71
Interest Coverage Ratio (X) 29.3624.3813.817.055.50
Interest Coverage Ratio (Post Tax) (X) 17.7114.698.484.223.27
Enterprise Value (Cr.) 5014.075496.063940.862785.692525.95
EV / Net Operating Revenue (X) 0.670.700.490.360.45
EV / EBITDA (X) 8.239.376.366.216.58
MarketCap / Net Operating Revenue (X) 0.710.700.440.280.33
Retention Ratios (%) 84.3085.1288.6496.0187.97
Price / BV (X) 2.152.561.901.431.36
Price / Net Operating Revenue (X) 0.710.700.440.280.33
EarningsYield 0.060.050.090.090.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Surya Roshni Ltd. is a Public Limited Listed company incorporated on 17/10/1973 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L31501HR1973PLC007543 and registration number is 007543. Currently Company is involved in the business activities of Manufacture of tube and tube fittings of basic iron and steel. Company's Total Operating Revenue is Rs. 7435.22 Cr. and Equity Capital is Rs. 108.78 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Tubes/PipesPrakash Nagar, Rohtak Road, Bahadurgarh Haryana 124507Contact not found
Management
NamePosition Held
Mr. Jai Prakash AgarwalExecutive Chairman
Mr. Raju BistaManaging Director
Mr. Vinay SuryaManaging Director
Mr. Kaustubh N KarmarkarWhole Time Director
Mr. Sunil SikkaIndependent Director
Ms. Suruchi AggarwalIndependent Woman Director
Mrs. Urmil AgarwalDirector
Mr. Tekan Ghanshyam KeswaniIndependent Director
Mr. Naresh AgarwalIndependent Director
Mrs. Puja SuryaWhole Time Director
Mr. Ravinder Kumar JaggiIndependent Director

FAQ

What is the intrinsic value of Surya Roshni Ltd and is it undervalued?

As of 19 April 2026, Surya Roshni Ltd's intrinsic value is ₹187.43, which is 9.89% lower than the current market price of ₹208.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (14.9 %), book value (₹115), dividend yield (2.04 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Surya Roshni Ltd?

Surya Roshni Ltd is trading at ₹208.00 as of 19 April 2026, with a FY2026-2027 high of ₹359 and low of ₹187. The stock is currently near its 52-week low. Market cap stands at ₹4,529 Cr..

How does Surya Roshni Ltd's P/E ratio compare to its industry?

Surya Roshni Ltd has a P/E ratio of 14.3, which is below the industry average of 40.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Surya Roshni Ltd financially healthy?

Key indicators for Surya Roshni Ltd: ROCE of 20.7 % indicates efficient capital utilization. Dividend yield is 2.04 %.

Is Surya Roshni Ltd profitable and how is the profit trend?

Surya Roshni Ltd reported a net profit of ₹348 Cr in Mar 2025 on revenue of ₹7,435 Cr. Compared to ₹205 Cr in Mar 2022, the net profit shows an improving trend.

Does Surya Roshni Ltd pay dividends?

Surya Roshni Ltd has a dividend yield of 2.04 % at the current price of ₹208.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Surya Roshni Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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