Surya Roshni Limited secured a domestic order aggregating to INR 272.86 crore (excluding GST) for supplying coated API line pipes to GAIL (India) and Indradhanush Gas Grid Limited (IGGL) for North-East gas grid pipe line projects on 27 September, 2020.
The company has received an order worth INR 61.57 crore from GAIL (India) through competitive e-bidding for supplying coated API line pipes (both external and internal) 35,000 metre of spiral pipes (24 inch) for Mumbai-Nagpur-Jharsuguda pipe line project in Buldana district, Maharashtra to be completed in 8 months. Jindal SAW, Welspun Corp, and Arcelor Mittal and Nippon Steel were competitive bidders who were awarded this tender.
It has also obtained an order worth INR 211.29 crore from Indradhanush Gas Grid (IGGL) for supplying coated API line pipes (both external and internal) 1,30,000 metre of spiral pipes (24 inch) for North-East Gas Grid line Project in Sonitpur, Biswanath and Golaghat district in Assam to be executed in 60 weeks.
Earlier this month, Surya had obtained orders aggregating to INR 287.45 crore (excluding GST) for the supply of API Grade 3LPE Coated line Pipes to Indian Oil Corporation for LPG pipeline projects and Bharat Gas Resources (BGRL) for City Gas Distribution (CGD).
The company is engaged in manufacturing cold rolled steel strips, pipes and tubes, in addition to lamps and other lighting accessories. The company has been witnessing V-shaped recovery in both their divisions – steel pipes & strips and lighting & consumer durables since June this year after the lockdown was lifted. However, there has been an overall double digit growth in revenue and substantial bottom line improvement owing to strong presence in the rural and semi-urban markets, growth in agriculture, consolidation of businesses post COVID and better export prospects owing to increasing preference of India-based manufactures over China.
The government’s thrust on projects like increasing the share of gas in energy mix, city gas distribution network and improved focus on domestic water segment, irrigation projects, and ‘Har Ghar Jal’ scheme which aims to provide drinking water to every rural household by 2024 will further boost the growth of steel pipes segment.
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