Financial Performance Highlights Long-term credit rating upgraded to AA- from A+ Steel Pipes and Strips EBITDA/MT at Rs 4,060 a growth of 22.6% YoY for Q2FY22 The company reported a sustained revenue growth momentum on YoY basis, primarily led by valueadded products and higher steel prices (HRC) across the businesses. Further reduced the debt by Rs. 53 crores in Q2FY22 and finance cost has also reduced by 13% in Q2FY22 Commenting on the results, Company’s Managing Director, Mr. Raju Bista, said The company reported a sustained growth momentum on YoY basis, primarily led by strong contribution of value-added products across businesses. By maintaining the “Customer First” philosophy at its core, Surya Roshni over the period has transformed both Lighting & Consumer Durables and Steel Pipes & Strips businesses as self-sustaining, self-propelling businesses in terms of earnings, debt repayment and growth, leading to continuous upgrade in the credit rating. As Surya approaches towards its Golden Jubilee year in 2023-24, the company expects to accelerate the growth momentum further and endeavorsto be a debt-free company. In Steel Pipes business, The company has recorded a strong growth of more than 22% in EBITDA / MT driven by exports and API pipes. Capacity utilization of recently commissioned facilities remained at an optimal level. During the quarter the company also bagged its single largest export order of Rs. 115 crores. Going forward, the focus remains on increasing the share of value-added products like GI pipes, API coated pipes and exports in steel pipes and strips. In Lighting and Consumer Durables, the company remains confident of maintaining a robust growth trajectory, largely driven by recovery in the economy, improved consumer sentiments and festive season during H2FY22. Favorable product mix towards value added products, LED battens, and Smart Lighting with proactive price increases is expected to drive the margin expansion. We are further expanding Salesforce Automation (SFA) for frontline sales force in 3 more regions and continuous automation and productivity improvements are being undertaken. The company has done an extensive Consumer Research to sharpen the company’s brand positioning and has been continuously increasing the advertising spends with a vision to transform into a modern, innovative, progressive and agile brand. Having Ogilvy and Mather as our creative partners will further strengthen the value proposition in building the brand identity The company remains fully committed towards participating in the PLI scheme. Surya Roshni has applied under the ‘Large Investment’ category for manufacturing of components of LED lighting. This will enable to augment our manufacturing facility further through backward integration, leading to reduced reliance on imported components. In pursuit of contributing to a more sustainable future, Surya Roshni has emerged as a frontrunner in the Steel Pipes & Strips and Lighting & Consumer Durables industry. With a continuous cost reduction, overhead rationalisation, value-added products, debt reduction and creating demand for different applications of its products, the company remains confident about the healthy growth across all the businesses. Result PDF