Surya Roshni Limited, maker of tubes, bulbs and steel pipes under the brand Surya, would spend about Rs 550 crore in setting up two manufacturing plants this financial year, according to its chairman and managing director Jaiprakash Agarwal.
Speaking to the media here on Thursday, he said the investments also included about Rs 100 crore for a high mast lighting and poles factory at Gwalior. The company would have five manufacturing units by this fiscal end, including the two factories it has in Uttarakhand and one at Gwalior, for producing tube lights, CFL lamps, metal halide lamps and others. Three more plants would come up later including one in south India.
The company would depend on internal accruals and debt from financial institutions for meeting the capex plans.
The group registered a turnover of about Rs 1,750 crore this year and is looking to grow to Rs 5,000 crore in three years. It is also working to double the revenues from the lighting division to Rs 1,000 in a year.
The company currently has a market share of about 25 per cent in the lighting segment. In Andhra, it holds a 50 per cent share. On Thursday, the company launched energy saving T5, T8 and T12 tube lights with a life of 15,000 hours.
