Source: Surya Roshni Limited Annual Report 2025-26.
Quick Facts / Company Snapshot
| Metric | Details |
| Ticker | SURYAROSNI |
| Company Name | Surya Roshni Limited |
| Founded | October 1973 |
| Founders | Mr. B.D. Aggarwal & Mr. J.P. Aggarwal |
| FY25 Annual Revenue | ₹7,466.70 Crore |
| FY24 Annual Revenue | ₹7,822.30 Crore |
| FY25 Annual Net Profit | ₹348.40 Crore |
| FY24 Annual Net Profit | ₹328.86 Crore |
| Q4 FY26 Net Profit | ₹98.30 Crore |
| Q4 FY25 Net Profit | ₹130.09 Crore |
| Promoter Shareholding | 63.00% (As of March 2026) |
| Dividend Per Share | ₹2.50 Final Dividend (FY26) |
| Primary Segments | Steel Pipes & Strips, Lighting & Consumer Durables |
| Key Manufacturing Hubs | Bahadurgarh, Malanpur, Hindupur, Anjar, Kashipur |
| Headquarters | India |
| Leadership | Mr. Jai Prakash Agarwal |
| Key Subsidiary | Surya Roshni LED Lighting Projects Limited |
| Cost Auditor | FRN: 000026 |
| BSE Category | ‘A’ Group |
| 53rd AGM Date | September 15, 2026 |
Company Overview
Surya Roshni Limited is a major Indian manufacturing conglomerate operating across multiple industrial and consumer sectors. Formerly known as Prakash Tubes Limited, the organization has spent decades scaling its heavy industrial base while strategically expanding into retail markets.
- The company acts as a foundational steel pipe manufacturer under the flagship brand ‘Prakash Surya’.
- The enterprise holds the distinction of being India’s largest manufacturer of GI pipes.
- It is also recognized as the largest exporter of ERW pipes in the nation.
The operational architecture of the firm is defined by a dual-core approach. By balancing high-volume, infrastructure-driven steel manufacturing with consumer-facing lighting and durables, the entity captures a diverse range of economic cycles. This vast operational scale places it firmly within the ‘A’ group of companies on the BSE.
Business Segments
The company divides its vast operational footprint into two primary, highly distinct business segments. This structural separation allows for specialized manufacturing, distribution, and market targeting.
Source: Surya Roshni Limited Annual Report 2025-26.
| Business Segment | Operational Scope |
| Steel Pipes and Strips | Manufacturing of ERW pipes, GI pipes, CR strips, and coated spiral pipes. |
| Lighting and Consumer Durables | Production of lamps, LED lighting, fans, home appliances, and PVC pipes. |
Steel Pipes and Strips
This division represents the heavy industrial backbone of the organization. Operating out of multiple large-scale facilities, it serves massive infrastructure, agricultural, and commercial construction requirements.
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- This segment is responsible for driving the company’s status as the largest exporter of ERW pipes.
- The product range captures multiple regions across India, including MP, Gujarat, Maharashtra, UP, and Haryana.
The division continuously upgrades its technical capabilities to cater to specialized segments. The integration of hot dip galvanizing facilities and advanced coating lines ensures the segment can service high-end infrastructure projects like solar parks and airport construction.
Lighting and Consumer Durables
Initiated as a strategic diversification, this segment transformed the company from a strictly B2B industrial operator into a prominent consumer brand. It encompasses a wide array of fast-moving electrical goods.
- The division manufactures various types of energy-efficient lamps and light-emitting diodes (LEDs).
- Operations leverage massive domestic distribution networks established since the 1980s.
By integrating home appliances into this segment, the company actively attempts to capture a larger share of household retail spending, balancing the heavier capital cycles of the steel division.
History and Evolution
The evolutionary timeline of the organization demonstrates a consistent strategy of vertical integration and market expansion over five decades.
- October 1973: The enterprise was officially incorporated as Prakash Tubes Private Limited.
- 1984: The organization executed its first major strategic pivot, diversifying into the lighting sector.
- 1985: A dedicated facility for lighting products was established in Kashipur, Uttarakhand.
- 2010: The product portfolio expanded further with the introduction of PVC pipes.
- 2014-15: The company officially entered the consumer durables market, launching fans and home appliances.
Originating from a single steel pipe unit in Haryana, the company systematically transformed into a multifaceted manufacturing powerhouse with a massive national footprint.
Products and Services
The product portfolio spans fundamental construction materials to daily household electricals.
Source: Surya Roshni Limited Annual Report 2025-26.
| Product Category | Associated Segment | Core Application |
| Electric Resistance Welding (ERW) Pipes | Steel Pipes & Strips | Infrastructure and Exports |
| Galvanized Iron (GI) Pipes | Steel Pipes & Strips | Construction and Agriculture |
| Cold-Rolled (CR) Strips | Steel Pipes & Strips | Manufacturing and Automotive |
| Spiral Pipes & 3 LPE Coated Pipes | Steel Pipes & Strips | Specialized Transport |
| LEDs and Lamps | Lighting & Consumer Durables | Retail Consumer Lighting |
| Fans and Home Appliances | Lighting & Consumer Durables | Consumer Households |
| PVC Pipes | Lighting & Consumer Durables | Plumbing and Sanitation |
Specialized Steel Products
The industrial line includes ERW mild steel round and section pipes ranging from sizes of ½ inch to 8 inches in diameter. These products feature thicknesses from 1 mm to 6.50 mm and can grade up to YST 310. The recent addition of a 3 LPE coating line significantly elevates the technical specifications of their output.
Lighting and Appliances
The consumer portfolio revolves around advanced light-emitting diodes (LEDs) and an expanding range of home appliances. Introduced in recent years, fans and appliances represent a critical growth avenue designed to leverage the existing brand equity built through decades of lighting sales.
Geographical Presence
The organization executes a pan-India manufacturing strategy to aggressively optimize logistics and market penetration.
- Bahadurgarh (Haryana): Serves as a historical core manufacturing unit for steel pipes.
- Malanpur (Madhya Pradesh): Captures central regions including MP, Gujarat, and Maharashtra.
- Hindupur (Andhra Pradesh): Specifically commissioned to leverage the premium markets of South India.
- Anjar (Gujarat): Positioned in Kutch, closely proximate to Kandla and Mundra ports to facilitate global exports.
- Kashipur (Uttarakhand): A dedicated operational hub for the lighting and consumer durables division.
This decentralized production network directly lowers freight costs while ensuring rapid deployment to both domestic clients and international shipping routes.
Profit and Loss
The audited financial metrics reveal a highly resilient operational model navigating dynamic revenue environments.
Source: Surya Roshni Limited Annual Report 2025-26.
| Metric | FY 2024-25 | FY 2023-24 | Q4 FY 2025-26 | Q4 FY 2024-25 |
| Annual Revenue | ₹7,466.70 Crore | ₹7,822.30 Crore | Not Disclosed | Not Disclosed |
| Annual Net Profit | ₹348.40 Crore | ₹328.86 Crore | Not Disclosed | Not Disclosed |
| Quarterly Net Profit (Consolidated) | Not Disclosed | Not Disclosed | ₹98.30 Crore | ₹130.09 Crore |
- Annual revenue decreased by 4.55% to ₹7,466.70 crore in FY 2025 from ₹7,822.30 crore in the preceding year.
- Despite the revenue contraction, annual Net Profit increased by 5.94% to ₹348.40 crore in FY 2025.
- In the final quarter (Q4 FY26), consolidated net profit declined 24.44% to ₹98.30 crore year-over-year.
The dynamic wherein total revenue contracts while annual net profit expands underscores exceptional cost control and a structural shift toward higher-margin product execution. The subsequent drop in Q4 FY26 indicates volatility at the fiscal year-end, standard in heavy manufacturing cycles.
Board of Directors and Leadership Team
Corporate governance and strategic oversight are managed by a highly entrenched leadership team.
- Mr. Jai Prakash Agarwal serves as a pivotal leader within the Board of Directors.
- The operational direction has historically been guided under his leadership since the company’s inception.
The board actively engages with shareholders through structural corporate events, with the 53rd Annual General Meeting formally scheduled via video conference for September 15, 2026.
Subsidiaries, associates, joint ventures
The operational architecture of the conglomerate incorporates distinct subsidiary entities designed to handle specialized market segments.
Source: Surya Roshni Limited Annual Report 2025-26.
| Subsidiary Entity | Operational Focus |
| Surya Roshni LED Lighting Projects Limited | Specialized Lighting Infrastructure |
This structured division allows the parent organization to ring-fence specific project liabilities while aggressively bidding for massive governmental and commercial lighting contracts.
Physical Properties
The company commands an immense physical infrastructure network, defined by high-capacity, multi-acre manufacturing compounds.
- Bahadurgarh Plant: Features the capacity to produce 225,000 MT of ERW pipes and 115,000 MT of CR Strips annually.
- Malanpur Plant: Established in 2010 and spread across 51 acres, this facility boasts a production capacity of 150,000 MT of ERW pipes per annum.
- Anjar Plant: An ultra-modern mega-facility spanning an enormous 100 acres in Gujarat, housing the advanced 3 LPE coating line.
- Hindupur Plant: Commissioned in 2017 and spread across 17 acres, delivering a massive capacity of 200,000 MTPA to the South Indian corridor.
Founders
The origins of the modern conglomerate are rooted in family-led industrial entrepreneurship.
- The company was founded in 1973 by Mr. B.D. Aggarwal and his son, Mr. J.P. Aggarwal.
- Their original vision established the foundational steel pipe unit in Haryana.
Investments and capital expenditure plans
The organization continuously deploys capital expenditure to upgrade its industrial capabilities and maintain its dominant market position.
- The Malanpur facility is scheduled for capacity enhancement following the commissioning of a new Direct Forming Technology (DFT) Mill.
- Significant capital was recently deployed to establish a state-of-the-art 3 LPE coating line at the Anjar facility.
These infrastructure upgrades ensure the company can manufacture complex, value-added products that secure premium margins in both domestic and international markets.
Shareholding Pattern
The equity structure of the firm reveals a heavily concentrated, management-aligned ownership base.
Source: Surya Roshni Limited Annual Report 2025-26.
| Shareholder Category | Holding Percentage (March 2026) | Holding Percentage (December 2025) |
| Promoter Shareholding | 63.00% | 62.89% |
- Promoter holding increased by 0.18% in the final quarter, rising from 62.89% to 63.00%.
- This consistent accumulation indicates immense internal confidence in the company’s financial trajectory.
In parallel with maintaining tight control, the board prioritizes shareholder returns, actively declaring a final dividend of ₹2.50 per equity share for the financial year ended March 31, 2026.
Future Strategy
Corporate strategy is explicitly targeted toward maximizing logistical efficiencies and dominating international supply chains.
- The Anjar plant in Gujarat is strategically positioned for aggressive export expansion due to its proximity to Kandla and Mundra ports.
- The Hindupur facility’s primary mission is to radically improve Return on Investment (ROI) by penetrating premium South Indian markets while drastically rationalizing logistics costs.
Key Strengths
The fundamental market positioning of the company is supported by its massive operational scale and strategic diversification.
- Export Dominance: Holding the position as the absolute largest exporter of ERW pipes in India.
- Margin Expansion: The ability to increase annual net profits despite a contraction in total topline revenue, showcasing deep operational efficiency.
- Logistical Moat: The deployment of decentralized mega-plants (like Hindupur and Anjar) structurally lowers freight expenditures compared to centralized competitors.
Conclusion and Strategic Outlook
Surya Roshni Limited (NSE: SURYAROSNI) executes a masterclass in balanced corporate manufacturing. By maintaining its grip as India’s premier manufacturer of GI pipes and the largest exporter of ERW pipes, the heavy industrial division generates immense scale. Concurrently, the strategic integration of consumer-facing LED lighting and home appliances provides a vital counter-cyclical revenue stream.
Despite short-term quarterly profit fluctuations—as seen in the Q4 FY26 net profit drop—the structural foundation remains pristine. The systematic increase in promoter shareholding to 63.00% by March 2026 signals unwavering internal conviction. Fortified by aggressive capital expenditure into advanced DFT mills and 3 LPE coating lines, the conglomerate is exceptionally well-positioned to command premium margins in both domestic infrastructure projects and global export markets for the foreseeable future.
FAQ
What are the primary business operations of Surya Roshni Limited?
The company operates through two main segments: the manufacturing of Steel Pipes and Strips (including ERW and GI pipes) and Lighting and Consumer Durables (including LEDs and appliances).
What was the annual revenue for Surya Roshni?
The company recorded an annual revenue of ₹7,466.70 crore for FY 2025, which was a 4.55% decrease from the previous year.
Did Surya Roshni report a profit for Q4 FY26?
Yes, the company reported a consolidated net profit of ₹98.30 crore in Q4 FY26, though this was a decline from the ₹130.09 crore reported in Q4 FY25.
Who founded Surya Roshni Limited?
The company was incorporated in October 1973 by Mr. B.D. Aggarwal and his son, Mr. J.P. Aggarwal.
Does Surya Roshni pay a dividend to its shareholders?
Yes, the Board of Directors declared a final dividend of ₹2.50 per equity share for the financial year ended March 31, 2026.
Where are the manufacturing plants located?
The company operates massive manufacturing facilities in Bahadurgarh (Haryana), Malanpur (Madhya Pradesh), Hindupur (Andhra Pradesh), Anjar (Gujarat), and Kashipur (Uttarakhand).
Official Site: Surya Roshni Limited
