Surya Roshni Ltd. on Monday announced that it has won an order worth more than Rs 113 crore from state-owned Bharat Petroleum Corp. Ltd. (BPCL) for its Hyderabad pipeline.

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BPCL has placed the order for the supply of bare and three-layer polyethylene coating, or 3LPE, for (external) line pipes.

The company added that the order has to be executed over the next nine months.

Formerly known as Prakash Tubes, Surya Roshni has two divisions -- the steel division and the lighting division. The steel division, which commenced operations in 1974, manufactures electrical resistance welded (ERW) steel pipes and tubes, cold-rolled formed sections and profiles, and cold-rolled (CR) strips.

In January, the company received total orders worth Rs 147.30 crore from Indian Oil Corporation Ltd. (IOCL) and GAIL for the supply of various types of pipe products.

Last month, IDBI Capital gave a ‘buy’ call on the stock with a target price of Rs 760 citing strong string steel pipes order backlog.

“The company currently has a strong order book of more than Rs 700 crore (exports and API pipes). The company is witnessing consistent order flow in API Pipes and other value-added products due to strong demand from oil and gas, CGD (city gas distribution), and water transportation sectors,” the IDBI Capital research report released in January said.

Shares of Surya Roshni are trading 2.31 percent lower at Rs 678.50.

(Edited by : Rukmani Krishna)