This small-cap company receives orders worth Rs 147.30 crore and also declares a dividend to its shareholders!

The company reported excellent results in both quarterly and annual financial statements.

Today, shares of Surya Roshni Ltd surged 0.98 per cent to Rs 619.45 per share from its previous closing of Rs 613.45. The stock recently hit a new 52-week high of Rs 628.95. 

The company informed the exchange that it has received orders from PSUs worth Rs 147.30 crore (including GST) for the supply of API- SL Coated pipes and bare pipes from Indian Oil Corporation Limited (IOCL) and Powder Coated GI Pipes from GAIL (India) Limited.  

The company also recently declared an interim dividend of Rs 3 per equity share for a face value of Rs 10 per equity share. The corporation fixed the record date for interim dividend which is Friday, January 27, 2023. 

Surya Roshni Limited incorporated in 1973 has emerged as India’s largest ERW Pipes exporter, largest GI Pipes producer and the second largest in the lighting segment. Its focus is on developing the value-added product mix. 

Surya Roshni has a market cap of Rs 3,370 crore. The company reported excellent results in both quarterly and annual financial statements. In the latest quarterly consolidated financial statements (Q3FY23), the company reported net sales of Rs 2021.28 crore and a net profit increased by 121.44 per cent over Q3FY22. Investors should keep an eye on this Small-Cap stock.