Surya Roshni Limited reported consolidated revenue growth of 3% YoY in Q3 FY26, reaching ₹1,927 crore, while 9M FY26 revenue grew 2% YoY to ₹5,377 crore. EBITDA stood at ₹148 crore for the quarter, impacted by inventory losses in the Steel Pipes business due to price corrections. The company highlighted steady growth in the Lighting & Consumer Durables segment and stable revenues in Steel Pipes driven by volume increases.
Q3 & 9M FY26 Consolidated Financial Performance
The company announced its financial highlights for the third quarter and the nine months ended FY26. Consolidated revenue increased 3% YoY in Q3 FY26 to ₹1,927 crore, against ₹1,868 crore in Q3 FY25. For the 9M period, revenue was ₹5,377 crore, marking a 2% YoY growth over ₹5,290 crore in 9M FY25.
EBITDA for the quarter was ₹148 crore, a 5% decrease YoY, though it saw a 5% sequential improvement (QoQ). Profit After Tax (PAT) for Q3 FY26 stood at ₹80 crore, down 11% YoY from ₹90 crore. For the nine months, PAT was ₹188 crore, a 13% drop YoY.
Segment Performance: Lighting & Consumer Durables
The Lighting & Consumer Durables segment showed steady growth. Q3 FY26 revenue rose 6% YoY to ₹476 crore, supported by festive demand in LED bulbs and professional lighting. EBITDA margins for the quarter were 8.8%, impacted by input costs, but sequential profitability improved.
The segment’s 9M FY26 revenue reached ₹1,308 crore, up 6% YoY. The segment continues to focus on Consumer and Professional Lighting growth, while Appliances and Wires & Cables showed stabilization signs, positioning them for improved performance in FY27.
Segment Performance: Steel Pipe and Strips
The Steel Pipe and Strips segment reported stable revenues of ₹1,451 crore in Q3 FY26, a 2% YoY increase, driven by higher dispatch volumes of 2.37 lakh tonnes. EBITDA was ₹106 crore, impacted by a one-time inventory loss of ~₹500 per ton due to steel price correction.
Hollow section (structural) pipes were a key growth driver, achieving quarterly volume of 40K MT. The order book remained robust at approximately ₹500 crore, providing strong visibility for Q4 FY26, which is expected to be the highest-volume quarter historically.
Strategic Highlights and Foundation
The presentation detailed the company’s ongoing efforts to reinforce its core leadership through:
- Brand Equity: Continuous advertising (ATL & BTL) and strong B2C contribution, noting ‘Prakash Surya’ as a major brand.
- Distribution Network: Deeply rooted presence up to Rural India, with over 3,00,000 Retail Outlets.
- Value Creation: Investing in technology upgradation, including a new 3LPE coating plant and a Large dia section pipe facility using DFT technology at Gwalior.
- Manufacturing: Highlighting four manufacturing locations across India for steel products.
- Diversification: Successfully penetrating FMEG categories like Fans and Home Appliances, and launching new products in Wires & Cables and Consumer Durables (e.g., Chill Coolers, Digital Water Heaters).
Financial Strength Overview (FY25 Figures)
Historical data underscored significant financial strengthening, particularly in the Lighting & Consumer Durables segment’s portfolio transformation:
- The LED Lighting share of sales grew to 63% of the total in FY25, up from 53% in FY21, showing a clear transition away from conventional products.
- Consolidated Net Worth reached ₹2,465 crore as of September 2025, compared to ₹2,508 crore in Equity & Liabilities.
- Consolidated Debt has been drastically reduced, standing at only ₹3 crore in FY25, from ₹717 crore in FY21.
Corporate Recognition and CSR
Surya Roshni reinforced its credibility through several accolades, including being recognized as a Top 500 Value Creator 2025 and receiving an award for excellence in manufacturing and lighting at the Pride of Bharat Awards 2025. The company also emphasized its commitment to social responsibility through its CSR arm, Surya Foundation, focusing on health, skill development, and education across various community programs.
Source: BSE
