Surya Roshni - Backend Infrastructure Ready As Opportunities Galore: IDBI Capital Initiates Coverage
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IDBI Capital Report
Surya Roshni Ltd. is the second largest manufacturer of steel pipes (contributes 67% to Ebitda) and also the second largest LED manufacturer in India.
With focus on improvement in product mix in steel pipes segment, we expect its margins to improve over the next two-three years.
In lighting and consumer durables segment, we anticipate strong growth in segment revenue led by rising demand for LED lights in India and also import substitution.
Surya Roshni has entered home appliances in the past five years - we expect this segment to record strong growth given strong distribution network of the company.
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