1:2 Stock Split, 0.54% Yield: Multibagger Steel Stock Shines On Back-To-Back Order Win; Gives 115% Returns

Back-to-back huge order wins made investors optimistic in iron and steel products maker, Surya Roshni. On February 19, the stock gained by nearly 6%. The dividend-paying steelmaker announced two contracts worth Rs 334.17 crore that it won back-to-back on February 12th and 13th.

On BSE, Surya's share ended at Rs 642.70 apiece, up by 5.02% with a market cap of Rs 6,993.73 crore.

As per the regulatory filing on Tuesday, the company announced that it has obtained orders in aggregate amounted to Rs 214.46 crore (with GST) during this week including an order of Rs 94.75 crore (with GST) received today for the supply of MS Coated pipes (Spiral welded) from domestic undertakings to be completed/executed within specified time as per the terms and conditions specified in the respective order.

Also, yesterday, the company won an order worth Rs 119.71 crore for supply of MS Coated pipes (Spirally Welded) at Chittorgarh (Rajasthan).

Last year, the company paid dividends up to 120% amounting to Rs 9.50 per share. Of this total, the payout for FY23 dividends was to the tune of 70% aggregating to Rs 7 per share.

At the current market price, Surya's dividend yield is at 0.54%.

Meanwhile, also in 2023, the company's shares turned ex-split in the ratio of 1:2 -- which meant 1 existing share having a face value of Rs 10 each was sub-divided into two equity shares having a face value of Rs 5 each. The stock turned ex-split on October 6, 2023.

Surya Roshni started in 1973 by making Steel Tubes and has grown by leaps and bounds to become one of the largest Steel Pipes and Lighting companies in India. With sales of Rs 7,997 crores in FY 2022-23, Surya Roshni is one of the largest conglomerates in India, with exports to over 50 countries around the world. The Surya and Prakash Surya brands stand for quality, innovation and the latest technology.