Surya Roshni LTD to invest rs 550 crore on capacity expansion

CHENNAI: Surya Roshni Limited, makers of electrical bulbs and tubelights and steel pipes, today said it would invest about Rs 550 crore towards capacity expansion in its different plants in the country.

The company was aiming to increase its annual turnover of Rs 1750 crore to Rs 5000 crore in the next two to three years, JP Agarwal, Chairman and Managing Director, Surya Roshni Limited,told reporters here.

"Surya Roshni Limited and some of its subsidiaries will invest about Rs 550 crore on capacity expansion by March 2010 in some of its plants in states including Gujarat and Madhya Pradesh," Agarwal said.

Company's exports figures had clocked Rs 300 crore last year but the aim was to increase it to Rs 400 crore this year.

With a 60 percent growth rate,the company was forging ahead of the industry growth rate of 10 percent, he said while launching the firm's latest "energy-efficient" T-5 tube lights in the city.

On setting up manufacturing units in south India, Agarwal said work was on but said it could probably materialise next financial year.