Rs 2.50/Share Dividend Announced: Multibagger Metals Stock's Net Profit Soars 11.71%

Small cap metal & ferrous sector stock Surya Roshni today announced a surge of 11.71% in its consolidated net profit for the quarter ended September 30, 2023. The company profit after tax declared at Rs 76.01 crore for Q2 FY24 as compared to Rs 68.04 crore declared in the corresponding period of last fiscal, as per the BSE filing of the company.

Surya Roshni also declared an interim dividend of Rs 2.50/- per equity share of Rs 5/- each. Last trading price of Surya Roshni stock on BSE is Rs 546.90 per share after a decline of 4.24% intraday. Check more details below:

Surya Roshni Declares Interim Dividend: As per the BSE filing of the company issued today, "We would like to inform you that at the Board Meeting held today, the Directors have declared interim dividend @50% on paid-up value of equity shares i.e. Rs.2.50 per Equity Share of Rs.5/- ·each of the Company."

The interim dividend shall be paid on or from Tuesday, November 21, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, November 10, 2023, which is the Record Date fixed for the purpose, added the regulatory filing.

Surya Roshni Quarterly Results: As per the regulatory filing issued on November 2, 2023, "In spite of marginal decline in revenue on account of price erosion with the comparable quarter, the company reported an improved profitability on YoY basis, on back of favourable volume growth in Steel Pipes and value-added products in Lighting and Consumer Durables segment.

With backward integration and better volume growth EBITDA improved by 6% to Rs 139 crore; EBITDA margins for the quarter stood at 7.3%. Profit before tax stood at Rs 104 crore which grew by 14%, on account of improved margins. Profit after tax stood at Rs 76 crore reporting a growth of 12%. Debt reduced by Rs 190 crore and debt to equity ratio for 30th Sept. 2023 stands at 0.11x."

The company recorded revenue of Rs 377 crores in Q2 FY24 inspite of shift in festive season from Q2 to Q3 in current financial year. Professional lighting business has witnessed 20% growth in Q2 and 23% in H1 FY24 driven by infrastructure as well as industrial projects. PVC Pipes witnessed 11% growth in Q2 FY24 as well as H1 FY24, stated the BSE filing.

Surya Roshni Stock Performance & Return: Last trading price of Surya Roshni share on BSE is Rs 546.90 per share. Its 52-week high price is Rs 600.00 per share and 52-week low price is Rs 200.43 per share, respectively. The company has a market capitalisation of Rs 5951.25 crore. Surya Roshni stock surged 111% year-to-date, gained 164% in last 1-year, soared 72% in last 2-years, and offered return of 403% in last 3-years. In last 10-years, Surya Roshni stock jumped 1341%.

About The Company: Surya Roshni started in 1973 with making Steel Tubes, and has grown by leaps and bounds to become one of the largest Steel Pipes and Lighting companies in India. With sales of INR 7,997 crores in FY 2021-22, Surya Roshni is one of the largest conglomerates in India, with exports to over 50 countries around the world.

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