Homegrown lighting solutions company Surya Roshini Limited is eyeing a domestic market share of 35 per cent, up from 25 per cent at present.
The company is also bullish on the export market, which currently constitutes almost 20 per cent of its turnover. Surya exports to nearly 40 countries, including Canada, Europe, South America and West Asia.
“We have plans to invest Rs 550 crore on expansion of our production facilities all over the country with an aim to achieving a turnover of Rs 5,000 crore by 2011-12 fiscal,” Surya CMD Jaiprakash Agarwal told Business Standard on the sidelines of a conference here.
The company is raising funds from State Bank of India (SBI), Punjab National Bank (PNB) and internal accruals for expansion. The company has electric lamp manufacturing plants at Kashipur (Uttarakhand) and Gwalior (Madhya Pradesh). Surya is setting up another plant in Gwalior for bulbs, tubes and CFLs. It also owns a steel pipe plant in Bahadurgarh, Haryana.