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    Surya Roshni Limited

    Makes steel pipes and LED lighting/appliances under Prakash Surya and Surya brands; India's #2 lighting brand.

    Capital Goods
    Industrials
    View SURYAROSNI earnings calls
    ₹266.34
    +8.82% from avg

    Overview

    Price

    ₹266.34

    Market Cap

    ₹5.2k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital5454535454109109109
    Reserves1.2k1.3k1.5k1.8k2.1k2.4k2.4k2.5k
    Borrowings1.1k732593418161612480
    Other Liabilities641842974776739752816832
    Total Liabilities3.0k2.9k3.1k3.1k2.9k3.2k3.4k3.5k
    AssetsFixed Assets1.1k1.0k943912835841873892
    CWIP151053817571630
    Investments44444444
    Other Assets1.9k1.9k2.1k2.1k2.1k2.3k2.6k2.6k
    Total Assets3.0k2.9k3.1k3.1k2.9k3.2k3.4k3.5k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating120280540285279540393401
    Cash from Investing-105-52-66-54-33-51-328-284
    Cash from Financing-37-229-475-231-246-454-80-92
    SummaryCapital Expenditure
    Free Cash Flow15232474231246489253250
    FCF Margin

    Valuation

    Assumptions

    Current — SURYAROSNI
    Price
    ₹266
    EPS (TTM)
    ₹11.78
    PE (TTM)
    22.6
    Profit growth
    -8.5%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (26.1×) and current (22.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹266
    vs
    Fair value · 15% return
    ₹68
    74%Overvalued

    At -8.5% growth and a 23× exit, ₹266 only delivers your return if you pay ₹68. The price is currently baking in 17% growth.

    EPS grows -8.5%/yr for 5 years, then fades to 6% over 2, exits at 23×.

    YearGrowthEPS (₹)
    FY27-8.5%10.78
    FY28-8.5%9.86
    FY29-8.5%9.02
    FY30-8.5%8.26
    FY31-8.5%7.56
    FY32-1.2% ·fade7.46
    FY336.0% ·fade7.91

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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