Surya Roshni gains on order win worth Rs. 124 cr from IHB.

Surya Roshni rose 1.98% to Rs. 643.10 after the company won an order of Rs. 124.35 crore (excluding GST) from IHB for the supply of API 5L Grade 3LPE coated pipes for LPG pipeline project from Kandla (Gujarat) to Gorakhpur (UP).

IHB is a joint venture (JV) of Indian Oil, Hindustan Petroleum and Bharat Petroleum Corporation. The deal is expected to be completed within a period of 8 months.

On a consolidated basis, net profit of Surya Roshni rose 5.7% to Rs. 44.32 crore on 41.6% rise in net sales to Rs. 1,945.66 crore in Q2 September 2021 over Q2 September 2020.

Surya Roshni is engaged in manufacturing of lighting & consumer durables business like fans and home appliances. It also has a stronghold in the steel pipes & strips business. The company is the largest manufacturer of GI pipes in India and is the largest exporter of ERW pipes.

BS