Surya Roshni Limited has paid a total of ₹720,000 in fines to stock exchanges for failing to appoint an independent director within the mandated timeframe, according to its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The penalties were imposed by BSE Limited and National Stock Exchange of India Limited for non-compliance with Regulation 17(1)(E) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The report, issued by Anjali Yadav & Associates Company Secretaries, confirms that the listed entity has complied with the provisions of SEBI regulations and circulars except for the matters specified in Annexure A. The company faced separate fines for vacancies that persisted during the quarters ended June 30, 2025, and September 30, 2025.

Penalties Imposed

The exchanges imposed fines for the delay in filling the independent director vacancy. The company stated that it has paid the fines and submitted waiver applications in compliance with applicable SEBI listing regulations.

Compliance Status

Apart from the penalties regarding the director appointment, the report indicates full compliance with other key regulatory requirements. These include adherence to Secretarial Standards, maintenance of a functional website, and timely disclosures of events under Regulation 30.

The audit confirmed that no actions were taken against the company, its promoters, or directors by SEBI or the stock exchanges other than the fines mentioned. There were no resignations of statutory auditors during the financial year, and no additional non-compliances were observed for any SEBI regulation.

Surya Roshni Limited reported its audited financial results for the quarter and financial year ended March 31, 2026. The company recorded a consolidated net profit of ₹98 crore for the fourth quarter, a decrease of 24% from ₹130 crore in the corresponding quarter of the previous year. For the full financial year, the consolidated net profit stood at ₹286 crore, compared to ₹347 crore in FY25. Sequentially, Q4 PAT improved by 23% to ₹98 crore, supported by better realizations and an improved product mix. The company maintains a net cash surplus of ₹337 crore as on March 31, 2026, and has become a zero-debt company.

Financial Performance

Consolidated revenue from operations for the year ended March 31, 2026, reached ₹7,540 crore, a 1% increase from ₹7,436 crore in the previous year. In Q4 FY26, revenue stood at ₹2,163 crore, broadly stable year-on-year and 12% higher sequentially. EBITDA for the quarter was ₹170 crore with margins of approximately 7.9%. Total expenses for the year rose to ₹7,211 crore from ₹7,000 crore in the prior year. The table below summarises the key financial metrics for the fourth quarter and full year:

Segment Performance

The Lighting & Consumer Durables segment reported revenue of ₹501 crore in Q4 FY26, registering growth of 9% year-on-year, supported by strong demand across consumer lighting, professional lighting, and appliances categories. The Steel Pipes & Strips business reported its highest-ever quarterly dispatch volumes of approximately 2.6 lakh tonnes during the quarter. The segment delivered resilient performance despite geopolitical disruptions, supported by improving realizations and disciplined inventory management. Value-added products contributed approximately 43% of overall volumes for the Steel Pipes & Strips business in FY26.

The total order book stood at ₹1,160 crore as on March 31, 2026. The order book for the Steel Pipes & Strips segment was ₹1,000 crore, led by exports, spiral pipes, and domestic API orders, providing strong visibility for H1FY27. The export business expanded its footprint across newer geographies including the UK market, while strengthening order visibility across North America and Europe.

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹2.50 per equity share of face value ₹5/- each (50%) for the financial year ended March 31, 2026. This is in addition to the interim dividend of ₹2.50 per share paid in November 2025. The dividend, if declared by shareholders, will be credited or dispatched within 30 days of the declaration.

Board Meeting and Appointments

The Board meeting, held on May 25, 2026, approved the audited standalone and consolidated financial results. Additionally, based on the Audit Committee's recommendation, the board approved the appointment of M/s R. J. Goel & Co., Cost Accountants, as the Cost Auditors for the financial year 2026-2027. The statutory auditors, M/s Ashok Kumar Goyal & Co., issued an unmodified opinion on the financial results.