Surana Solar plans to diversify into LED business

Surana Solar Limited, a manufacturer of solar energy systems with the focus on solar photovoltaic modules, is planning to diversify into LED bulbs and tubes manufacturing to tap the burgeoning demand for LEDs in India.
 
“In view of growth potential in the field of LED, the company proposes to enter into a new line of business for manufacturing LED bulbs and LED tubes of an initial capacity of 10,00,000 units with an established entity in the market. The Board at their meeting held on February 11, 2015 approved that the company shall hold 62.50% equity with an initial outlay of Rs 5 crores,” said Surana Solar in a BSE filing.
 
Surana Solar Limited, a part of the Hyderabad-based Surana Group, expects to achieve a turnover of Rs 40 crore in the second year of operation from the new LED business.