Surya Roshni Ltd to invest Rs550 crore for capacity expansion

Surya Roshni Ltd to invest Rs550 crore for capacity expansion
PTI
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First Published: Wed, Oct 28 2009. 03 18 PM IST
Updated: Wed, Oct 28 2009. 03 18 PM IST
Chennai: Makers of electrical bulbs tubelights and steel pipes Surya Roshni Ltd on Wednesday said that it would invest about Rs550 crore by March 2010 towards capacity expansion of its different plants in the country.
“Surya Roshni Limited and some of its subsidiaries will invest about Rs550 crore on capacity expansion by March 2010 in its plants in states including Gujarat and Madhya Pradesh,” Surya Roshni Ltd chairman and managing director J.P. Agarwal said.
“The company is aiming to increase its annual turnover of Rs1,750 crore to Rs5,000 crore in the next two to three years,” Agarwal said.
The company’s export figure was at Rs300 crore last year and the aim is to increase it to Rs400 crore this year.
“With a 60% growth rate, the company is forging ahead of the industry growth rate of 10%,” he said while launching the firm’s latest energy-efficient T-5 tube lights.
On setting up manufacturing units in south India, Agarwal said that the work was in progress and could probably get completed in the next financial year.
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First Published: Wed, Oct 28 2009. 03 18 PM IST