SURYA ROSHNI LTD. - 500336 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Transcript of Earnings Call with respect to Financial Results for the second quarter and half-year ended 30th September, 2022 held on 10th November, 2022 at 4.00 p.m. SURYA ROSHNI LTD. - 500336 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Audio Recording of Earnings Call with respect to Financial Results for the second quarter and half-year ended 30th September, 2022. SURYA ROSHNI LTD. - 500336 - OUTCOME OF BOARD MEETING HELD ON 10TH NOVEMBER, 2022
Pursuant to Regulation 30 of the Listing Regulations, we write to advise that the Board at the aforesaid meeting interalia recommended for the approval of the Members, appointment of Mr. Tekan Ghanshyam Keswani and Mr. Naresh Agarwal as Independent Directors of the Company for the first term for a period of five consecutive years with effect from 28th October, 2022 and 4th November, 2022 respectively. Q2FY23 Quarterly Result Announced for Surya Roshni Ltd.
Plastic products company Surya Roshni announced Q2FY23 results: Consolidated Q2FY23: The company reported a sustained growth momentum on a YoY basis, primarily led by value-added products across the products Continued to undertake multiple price hikes to partly mitigate the higher input costs Steel pipes and strips EBITDA/MT at Rs 5,259, a growth of 30% YoY for Q2FY23 Cash conversion cycles remained positive, driven by prudent financial acumen. The working capital days have remained largely stable at 60 days as compared to 62 days in H1FY22 Reduced debt by Rs 72 crore in H1FY23; finance cost also reduced by 26% in H1FY23. Debt equity reduced 0.31x as on September 30, 2022, as compared to 0.37x as on March 31, 2022. Managing Director Raju Bista said, “The company reported healthy performance on financial as well as operational metrics despite challenging business environments such as rising interest rates, strengthening of USD, import parity, volatile ocean freight and rising input costs. However, these external challenges were mitigated by strong inherent fundamentals, product mix, brand equity, financial acumen, lean balance sheet and excellent execution by our team. In lighting and consumer durables, Q2 and H1FY23 revenue grew by 12% and 29% YoY respectively, driven by an improved product mix. The company’s new-age lighting products continued to grow at a healthy pace with LED down-lighters growing at 63% and 100%, for Q2 and H1FY23 respectively. LED lighting as a whole grew by 29% YoY during the quarter. The professional lighting business is doing well and has registered a growth of 37% and 49% in Q2 and H1FY23 respectively. Consumer durables witnessed strong traction towards the end of Q2FY23 driven by the ongoing festive season. The company expects this traction to continue in Q3FY23 as well. The company has a strong product launch in the pipeline for lighting as well as consumer durables, which are in-line with current market trends. The company continued to undertake price hikes to mitigate the impact of rising input costs. The softening commodity prices from Q2FY23 onwards along with these price hikes will help the company to improve the margin profile in the near future. The company is proactively tracking all global and domestic events and utilising all the possible means at its disposal to counter the impacts of such events. The company’s capex under PLI scheme will further lower outside dependency and improve internal efficiencies along with the reduction in costs. The company is continuously adopting modern processes and automation for productivity enhancement and supply chain optimisation. The company has built strong and extensive capabilities and competence in design and manufacturing. The company’s past investment in R&D; and modern electronics to reduce replacement costs has boded well. The replacement cost now stands at 5.9%, a significant reduction on YoY as well as QoQ basis. As a result, the company remains well-placed to offer innovative products at a competitive price without compromising on quality. The company has also accelerated branding and marketing activities along with a focus on R&D; to launch trendy and innovative products and enhance dealer engagement. The company has successfully penetrated the Metro and Tier-1 cities market further along with deepening the existing rural network. The consumer durables segment is witnessing a healthy demand growth, driven by the ongoing festive season across the country. The company will also continue to focus on participating in multiple Smart Lighting projects in Professional Lighting. In Steel Pipes and Strips, the company’s performance in terms of revenue and profitability was affected on account of a steep correction in global commodity prices. However, EBITDA/MT improved significantly by 30% on a YoY basis to Rs 5,259 in Q2FY23, driven by a healthy product mix due to an increased share of value-added products. We firmly believe that these headwinds are transient in nature and the company will grow Steel and Strips businesssignificantly in the long term. Lastly, I would like to welcome Jitendra Agrawal as CEO – Lighting and Consumer Durables. He is a young, dynamic and renowned professional with 27 years of rich experience in the Lighting and Electrical Industry. We are confident that under his leadership, the company’s lighting business will touch new highs." Vinay Surya, Managing Director, said, “The company reported a robust set of numbers with healthy expansion in EBITDA margin and healthy bottom-line growth which was mainly on account of growing share of value-added products, improved working capital cycle and a significant reduction in debt. Result PDF SURYA ROSHNI LTD. - 500336 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation - November, 2022 SURYA ROSHNI LTD. - 500336 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release Q2 & H1FY23 Results Highlights- Continued healthy Performance underpinned by inherent fundamental strength. SURYA ROSHNI LTD. - 500336 - Announcement under Regulation 30 (LODR)-Change in Management
Appointment of Mr. Jitendra J Agrawal - as the Chief Executive Officer (CEO) - Lighting & Consumer Durables. SURYA ROSHNI LTD. - 500336 - Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2022.
Further to our letter dated 31st October, 2022, we enclose, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the following, as approved by the Board of Directors of the Company at the meeting held today, i.e. 10th November, 2022: (i) Unaudited Financial Results of the Company, both Standalone and Consolidated, for the quarter and half year ended 30th September, 2022; (ii) Unaudited Segment-wise Revenue, Results, Assets and Liabilities of the Company, both Standalone and Consolidated, for the quarter and half year ended 30th September, 2022; (iii) Unaudited Cash Flow Statement, both Standalone and Consolidated, for the half year ended 30th September, 2022; (iv) Unaudited Balance Sheet, both Standalone and Consolidated, as at 30th September, 2022; and (v) Limited Review Reports from the Statutory Auditors, M/s Ashok Kumar Goyal & Co., Chartered Accountants, on the aforesaid Standalone and Consolidated Financial Results. SURYA ROSHNI LTD. - 500336 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
The information as received from Company''s RTA Mas Services Ltd., on 9th November, 2022 in regard to information for loss of Share Certificates. SURYA ROSHNI LTD. - 500336 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Details of shares dematerialized by the Company Registrar Mas Services Limited during the month of October, 2022