Surya Roshni bags Rs. 89.84 crore order from IOC

Surya Roshni, a Delhi-based lighting and GI steel pipe manufacturer, announced on Thursday that it has won order worth Rs. 89.84 crore.

The company informed in a stock exchange filing about the order. The order was awarded by Indian Oil Corporation (IOC). The order aggregating Rs. 89.84 crore, excluding GST, is for the supply of API Grade for oil and gas pipe lines of 115192 meter ranging in different sizes and specifications. The timeframe in which the order is to be executed is 10 months.

The manufacturing of API grade pipes comes in steel pipes and strips segment of the overall revenue mix of the company which contributes 74 per cent in total revenues. The segment has been a key performance driver of the company. In the API grade, oil and gas pipes had order intake of Rs. 383 crore in recently concluded quarter.

Surya Roshni is engaged in manufacturing electric resistance welded (ERW) steel pipes and lighting products, with facilities located in Haryana, Uttarakhand and Madhya Pradesh.

On Friday, stock closed ended the session down by 0.62 per cent at Rs. 161 on BSE.