Shares of Surya Roshni rose 4% to Rs 754.75 on the BSE on Thursday, hitting a new 52-week high. The stock surpassed the previous high of Rs 741.25 on March 6, 2023.

The stock has gained 53% so far in the calendar year 2023 (CY23), as it expects continued healthy results for the current and future fiscal years, backed by steady sales growth. At 2:32 pm, the S&P BSE Sensex was down 0.06% at 60,355. Since December 2022, the benchmark has lost 1.4%.

Surya Roshni has two reportable segments – Steel Pipe & Strip and Lighting & Consumer Durables. All Steel Pipe and Strip products are sold under the Prakash Surya brand name. Products in the lighting and consumer durables segment, including all types of lamps, household appliances and PVC pipes, are sold under the Surya brand.

After a strong 39% year-on-year revenue growth in FY22, driven by a realisation surge, higher sales volume and higher value-added product share, the company’s performance remained healthy in April to December reported revenue for FY22-23 (9MFY23). An increase of 8% year-on-year. Financial performance during the period benefited from stable input costs, the festive season and continued improvement in the product mix.

The company’s outlook for all of its businesses remains positive. Over the next few years, growth trajectories across all segments are expected to remain robust, driven by higher existing capacity utilisation, a higher share of value-added products, and improved financial parameters.